The unemployment report/payroll numbers were terrible again, but the markets are focusing on hopes for the economic stimulus package and hopes that China will help lead the world back to strength.President Obamadiscussed his economic rescue team, and used the bully pulpit to push for the stimulus plan. It’s interesting-seems like they haven’t had any input on the makeup of the stimulus. Treasuries are heavy with the onslaught of supply coming, Crude is weak; soybeans are higher as it stays dry in South America.Grain traders are also watching the drought in China-they’re the world’s largest producer.
SPH- Upside breakout of the triangle, 870 to 876 is the objective area.
NQH- 1287 is the upside objective.
USH- Bearish under 12609, 12525 is the low of this selloff.
JYH- Watch yesterday’s low of 10846, it looks like a sell, but might be late in the day for much follow through
ECH- Momentum buy day, 12900 is resistance.
GCJ- Doji today=breakout mode Monday
COH- 2837 has been the high for this rally, resistance.
CLH- Broke under the old 3911 swing low, held recovery could lead to a rally.
LCJ- 8720 is this week’s high, resistance
SH- Couldn’t clear trendline resistance at 1005, momentum is giving a sell short signal
WH- 554-4 is key support.