Next weeks i don't see any major moves. FED money supply drives stock markets and currencies and last weeks YEN , EURO exchange rates will make some profits for who trade right the narrow volatility.
Next weeks USA markets and EMERGING markets will switching each other with outperform. On Euro-equities we should be more careful because only a fraction will outperform.
In next months (after summer) Europe will face its problems.
Low EURO money supply 3 means strong euro around 1.3$ but means deep recession and high unemployed rates. So far Germans asks from ECB to keep extremely low the euro money supply so keeping the exchange rate 20-30% higher than fair value (fair value while still PIGS in euro). This money supply policy will bring deep recession in hard core of EUROzone starting from France.
6/3/2013XLFopen LONG trade with last close value
6/3/2013XLVopen LONG trade with last close value
5/31/2013DIAopen LONG trade with last close value
5/31/2013QQQopen LONG trade with last close value
5/31/2013SPYopen LONG trade with last close value
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.