Stocks started out on a good foot, as traders are hopeful of a new Chinese stimulus plan.The ISM services number met expectations; the Fed’s Beige book is out at 1 PM.
March S&P:Trade or Fade has resistance at 716.75.
June Treasury Bonds:Concerns about an avalanche of supply next week are hurting Treasury futures. The recent low was 123-04 is the next objective and support.
June 10 Year T Notes:Good selloff on a breakout trade day; has reached second downside objective at 120-09.
March EuroFX:Reaching trendline resistance at 12627, momentum is giving a short sell signal.
March British Pound:Trading at first breakout resistance of 14158; slow trade so far.
April Gold:Going down again, watch Fibonacci support at 905.70.
May Cocoa: Monday’s high of 2364 is next resistance, momentum sell short day tomorrow.
May Coffee:It’s having a good rally today, but I won’t get excited about the long side until it gets back over broken support at 110.50
April Crude Oil:See my blog post here.
April Live Cattle:Breakout day rally, a close over 85.10 would be bullish.
Grains:There were breakout day buys in soybeans, corn, Soymeal and bean oil. Momentum is showing a sell short signal for tomorrow.
.gif "Midsession Comments for March 4")
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