Stocks are lower-we had three up days, so some profit taking is in order.Today is expiration day, I’d heard there was big open interest in cash SPX options at the 750 strike; the market often gravitates to them, but the market looks heavy today.
June S&P:Momentum sell short day, support is 737, then 731.
June NASDAQ:Support is 1150, then 1142.
June Treasury Bonds: Refunding is over, stocks are weaker, bonds are good.Yesterday’s high of 12707 is resistance.
June British Pound:Holding over Fibonacci resistance at 13894 is bullish. Momentum and MACD are not.
June Canadian Dollar:Is there a bullish MACD crossover coming?Momentum is giving a short sale signal, but it doesn’t look like that will hit today.
April Gold:The early rally faded, it’s supposed to be a momentum short sale signal, but so far it’s just back to unchanged. Support is 922 then 916.
May Silver: It’s supposed to be a short sale day, but it looks bullish over 1300.
May Copper:Tried to rally, but couldn’t break the top line of the triangle.16350 is support.
May Sugar:Momentum and MACD forecast a selloff. 1290 and 1281 are support.
May Cotton:4222 is key support. It looks like it could fall back to support around 4110.
April Crude Oil:$4700 is a pivot point; 4635 is support.
May Soybeans:Lower on a momentum sell short day, there’s trendline support at 863-4.
May Wheat:It may not get there today, but 509 is the bottom trendline of the triangle.
May Corn:Holding over $380 is bullish.
May Soymeal:Trendline support is at27080.
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