Stocks and Treasuries are both higher-stocks bouncing from yesterday’s losses, Treasuries because the Chinese reiterated that they will continue to buy Treasuries provided they maintain liquidity and preservation of value. Housing starts were weaker than expected; this may be good news as it will help draw down inventory.
March SP:Momentum buy day, 795 is resistance. Regaining 797.50 aids the bulls.
March NASDAQ:Held trendline support.
March Treasury Bonds:Holding up, today is a momentum sell short day. Support is 129-15.
March EuroFX:Hold support at 12542 (old low area).
March British Pound:This is the third doji day, should get a good move out of here.143 is resistance, 14130 is support.
April Gold:Sell short day, 960 and 954 are support.Looking to buy.
March Silver:The recent push up has come on lower momentum, a warning sign for the bulls.1393 is support.
March Copper:13990 is support-low of February.The bearish MACD crossover has me favoring the short side.
May Cocoa:The 2599 support area I was watching gave way, 2550 is next support,
May Sugar:Broke trendline support at 1322, 1307 is Fibonacci support.
May Wheat:Bearish under 530.
This is the morning update to my Swing Trader’s Insight advisory
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