Eur/USD and US dollar index didn't participate in late rally.

It was a strange day of trading. Dow was down 192 point and S&P500 was down 24 point at one point of time and then it recovered all the loses by the close. European market was down over 2% and Euro dropped below 1.26 for the first time in 2012. Dow and S&P500 sold off along with Euro but Euro didn't recover like Dow and S&P. Even USD rallied to 82.22 but at the close, it was at 82.02 This rally didn't make any sense and it wasn't convincing but just follow the trend and be patience.

Based on the chart, Dow and S&P500 are expected to open higher at the open but it depends on the futures and news out of Europe especially Greece and Germany. We can see lower open only if US dollar index rises above 82.05 By tomorrow close, I think market will reverse to the downside and close in the red. ****Added after posting article(EU conference was just over, it was all same BS talk and more discussion will be done in June EU Summit. To summaries EU conference was disappointing and USD would rise above 82.05 and we would have a lower open)

For Upside Dow needs to break 12,565 while for downside dow needs to break 12,422

For upside S&P500 needs to break 1324, while for downside S&P500 needs to break 1312

Durable Goods Orders 8:30 AM ET New order of 0.5% is expected, lower is bearish while higher is bullish for stock market.

Jobless Claims 8:30 AM ET 371k is expected, higher is bearish sign while lower is bullish.

Natural Gas Status Report 10:30 AM ET Built up in inventory is bearish news, while decline in inventory is good news.

Earnings before market open:  CMCO, COST, EJ, FLO, MMYT, REDF, TIF, TTC, SIG

Earning after market close:  PAY, UQM, TARO, RUE, PRGN, VSNT, CRMT

After hours big gainer: CEDC, SNPS, P, CPE,SPF, PVH, HPQ

After hours big loser:  EGO, KGC, CDE, EMC, NTAP, CLDX, MTGE, NIHD, WLBC

For Long Term: Keep DELL, PCX, NOK, RVBD, AAPL, PCLN, POT, MT, F, MOS, CAT, FAS, ERX in your watchlist.

For day trading watchout BIDU, AAPL, PCLN, MA, V, FAS, FAZ, TZA, TNA, TVIX, XIV, SVXY, UVXY, VXX, SPY, DIA, GLD, AGQ, INFY (remember volatility is not a long term investment option use it for strictly day trading) VIX is in Contango again after masssive sell off June future contract, so any bad news could lead to rally but it will go low at the close. So be careful with UVXY, TVIX, VXX. 

Fasten your seat belt, as Greece election will near, this market will become really messy.