Bernanke’s testimony to the House Banking committee begins at 9 AM Central.I’m not sure there’s much he can say to bolster investor confidence.The Obama administration may have high approval ratings, but the markets aren’t voting their approval of the plan for US financial markets.Stocks are rebounding a bit this morning on some decent corporate profit news.
March S&P:So far the November low at 737.25 has held.753 is a pivot area this morning.
March NASDAQ:Momentum buy day. 1153.50 is resistance.
March Treasury Bonds:Bullish day, 12831 is trendline resistance.
March Japanese Yen:Slumping exports are hurting the Yen; 10253 is major Fibonacci support.
March EuroFX:Momentum buy day, 12785 and 12823 are resistance.
March British Pound:Momentum sell short day, 14375 is first objective/support.
March Canadian Dollar:Doji day yesterday=directional move today?
April Gold:Inside day and doji yesterday, look for a breakout today. There’s trendline support at 981.00, resistance is $1000.
March Silver:Momentum is bullish. 1460 is resistance, 1417 is support.
March Copper:Testing trend line resistance at 14570.
May Cocoa:Held trade over the old low at 2350 could lead to more short covering; 2405 is next resistance.
May Sugar:1308 is the midpoint of the recent range. 1290 is key support, 1318 is resistance.
April Crude Oil:Momentum buy day, 3930 is resistance.
May Soybeans, Soy Meal:Momentum sell short day.
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