Friday’s news about Goldman continued to weigh on the markets last night, as did the Icelandic volcano.  Chinese stocks, especially real estate firms, fell after the government announced what were described as ‘the most draconian measures is history) to try to curb real estate speculation.  The volcano is disrupting IMF and EU talks with Greece about their bailout; the delay pushed Greek CDS to a record high.  Leading Economic Indicators for March are due at 9 AM; they are expected to have risen 1.1%.  There’s lots of economic headwind producing news for the markets today.

June SP:  It’s a Buy day, the reference price is 1182.75.  There’s trend line support at 1181.80.
June NASDAQ:  Buy day; the reference price is 109775.
June T Bonds:  Sell Short day.  Downside targets are 116-22 (swing high) and 116-11 (Fib retracement support).
June Yen:  It’s an ‘exit breakout buys day’, will it turn into a Sell Short day?  Friday’s high was 1.0887; the first downside target is 1.0798.
June Euro:  By the TT today could be a Buy day, but it’s sure not acting like on.  Breaking Fib retracement support at 1.3488 added to the bearish pressure.
June British Pound:  Opening under Fib retracement support at 1.5521 got the ball rolling last night.  There’s a bit of support at 1.5181; 1.5155 is bigger.
June Canadian Dollar:  Bearish after breaking fib support at 9876; looks like the Buy day may wait until tomorrow.
June Gold:  Today is a ‘cover b.o. sales’ day; the reference price is 1130.00.  There’s Fib retracement support at 1128.40.
May Silver:  Another ‘cover b.o. sales’ day; 17.61 is the reference price for a Buy day.  Regaining the 3/10 high at 1766.5 would help the bulls.
May Copper:  Buy day; watch Fib retracement support at 348.50 for a reference price.
July Sugar:  Buy day; the 16.80 area is the first rally objective. Holding the 16.00 area could put in a floor.
July Coffee:  It’s approaching the last major low of 130.00 from 2/25.  It’s also due for a Buy day; but don’t overstay on the long side.
June Crude Oil:  It’s a ‘cover b.o. sales’ day; but breaking under the old high area of 83.80 and Fib retracement support of 83.43 kept the pressure on.
June Natural Gas:  Breakout setup (ID/NR7); use Friday’s high of 4.183 and low of 4.0693 as breakout points,
July Soybeans:  Sell Short day; Friday’s range contraction could yield a breakout move today.  Watch trend line support at 981-6.
July Wheat:  Sell Short day; the old high of 496-4 from 4/7 is a pivot point today.
July Corn:  It’s finally having the Sell Short day move; it hit the first downside target at 365-4.

This is a sample of the analysis from my Swing Trader’s Insight advisory service. For information on STI, and to sign up for a free two week trial, visit here.

The information contained here includes information from sources believed to be reliable and accurate, but no guarantee is made as to accuracy, nor do they purport to be complete. Opinions are subject to change without notice. Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts or commodity options can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results.

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