Tax day! (Here in the States, anyway).Stocks are slightly higher in spite of a cautious earnings report from Cisco and yesterday’s weak retail sales report.Lots of news to chew on today-CPI, Industrial Production, crude inventories, and the Beige Book at 1 PM.
June S&P:Looks like the correction leg for another stair step advance. It’s been exhibiting a rally, 2 or 3 days flagging down, then another rally. Momentum is bullish. 848 to 850 is resistance, 831 is support.
June Treasury Bonds: Momentum sell short day, 12808 is resistance.
June Japanese Yen:Reversing yesterday’s breakout rally; momentum sell short day.10033 is first support.
June British Pound:Breaking over the last high at 14962. Momentum is on a sell short signal.
June Canadian Dollar:Holding 8210 to 8200 is key for the bulls.
June Gold:Breakout day, not tipping its hand yet.There’s trend line resistance at 897.00, support at 887.
May Silver:Also a breakout day, but already breaking out up.1295.5 is Fibonacci resistance.
May Cocoa:Cover breakout sales, I’ll look to sell a rally back to 2500 to 2510.
May Sugar:Yesterday’s doji could equal a directional move today. Momentum is bullish.
May Coffee:Doji yesterday. 116.65 is Fibonacci resistance.
May Cotton:Momentum buy day today to get back yesterday’s breakout sale.
May Crude Oil:Breakout setup. Will this be another rally after a bearish inventory report?There’s trend line resistance at 5136.
May Wheat:2 doji days, breakout mode.
May Corn:Momentum sell short day, 391 is support.
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