Stocks extended their rally after Barney Frank said he expected the uptick rule to be restored “within a month.The Citi news and Rep. Frank’s comments are the big drivers today. Crude oil is down on bearish demand forecasts from the EIA. .
March S&P:See my blog post here.
June Treasury Bonds:Down day today, momentum says tomorrow should be a buy day.
June Japanese Yen: Looks like we’ll have a breakout setup for tomorrow.
June EuroFX:The ECB talked about a bottom in interest rates, and a recovery for US banks will help the EZ.The Euro had a breakout rally today; tomorrow should be a sell short day.
June British Pound:Another market that should have a breakout setup for tomorrow.
April Gold:Downside breakout under Fibonacci support at 905.50 and last week’s low at 900.40.Tomorrow should be a momentum buy day, but I’d look for a dead cat bounce.
May Silver: Testing last week’s swing low at 12.43.1250 is Fibonacci retracement support.
April Crude Oil:Consolidating around $47, breakout setup for tomorrow?
April Lean Hogs:Couldn’t clear resistance at 63.00, the doji and narrow range day yesterday meant a breakout day today.
May Soybeans: Good rally, but can’t stay over yesterday’s high at 883.
May Corn:The late February high at 380-4 is key.Momentum sell short day tomorrow.
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