US durable goods orders rose, as did new home sales. New home sales seem to show that the bottom may be in for housing, but they not going to race back higher. Following in the footsteps of the failed UK auction, the US 5 year T Note auction was poorly taken. Lots of choppy markets today.
June S&P:Couldn’t clear the area around yesterday’s high, they just tested yesterday’s low.800 then 798 are support.
June NASDAQ:1225 is the big support..
June Treasury Bonds: 127 is key support; the short end of the curve is already giving up.
June 10 Year T Note: Bearish MACD crossover today; broke support at 12316. 12222 is key support. Is this the world’s bond buyers getting indigestion?
June Euro Currency:Good rally on a momentum buy day; 13578 is resistance.
June Canadian Dollar:Had a breakout setup today, but it hasn’t gone anywhere. Wait for tomorrow.
April Gold:Momentum buy day; 942 is Fibonacci retracement resistance (50% retracement of the past four days’ selloff).
May Soybeans:Momentum buy day for tomorrow
May Wheat:Downside breakout under 530; cover shorts, look for a bounce tomorrow.
May Corn: Downside breakout under 392, 380 is the target.
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