Housing starts were taken as bullish for stocks, and after a slow start they are rallying.The problem with the markets has been a crisis of confidence.As we move forward, we will be comparing the economy to increasingly weak periods, which should help confidence.I have long thought that the economy will be improving this spring, barring new surprises or market unfriendly developments out of Washington.
June S&P:Momentum buy day, 768 is resistance.
June Treasury Bonds:Retreating as stocks rally, momentum is bullish.
June 10 Year T Note:Breakout setup; trying for a downside breakout?The FOMC meeting concludes tomorrow; will they move much ahead of that?
Currencies:Just not much doing here today.
April Gold:Trading at 916 support.
May Copper:Momentum sell short day, 169.50 is the first downside objective.
May Sugar:Breakout setup; 1318 to 1320 is a potential breakout point.
May Cotton:Should be a momentum buy day tomorrow. 4250 is support.
April Crude Oil:4883 was last week’s high, 4932 is Fibonacci resistance.
Grains:Bull market, but I wouldn’t be chasing price too hard yet. Look to buy breaks.
.gif "Midsession Futures Comments for March 17")
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