I’m not in the office today-I’m at home working on some projects, so I haven’t been following the markets as closely today.In spite of today being a witching day, I thought it might be kind of quiet today.This was a volatile week, and some consolidation was probably in order. It’s also day two of the first round of the NCAA, which draws attention. Many quiet markets today=lots of breakout setups for Monday.
June S&P:It’s a momentum sell short day today; support is 765.I would read much into this selloff unless it goes back under 750.
June NASDAQ:Breakout day, the downside could accelerate on a move under 1185.
June Treasury Bonds:A doji yesterday, momentum is back down to neutral, but there’s not much going on. If we stay around here today they’ll have a breakout setup for Monday. 129 is support.
June Yen:Momentum sell short day; 10411 is support-it’sa 50% retracement of the past three days’ rally.
June Euro Currency, British Pound:Looks like they’ll have a breakout setup for Monday.
April Gold:Momentum is bearish, but it’s holding up well. The points to watch are 960 and 950.
May Silver:Successful retest of 1350, momentum is still on a short sell signal.
May Cotton:Broke out over 4350, look for it to be support now.
May Wheat:540 is Fibonacci support, momentum is still bearish.
May Corn:Still watching 393 support, 398 resistance.
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