JP Morgan Chase reported better than expected earnings. They said they can pay back their TARP money and won’t need to raise equity.Jobless claims showed a big drop, continuing claims rose. Housing starts showed a bigger than expected drop. The Philly Fed survey is out at 9 AM.

June S&P:Momentum is still bullish; 850 is resistance.
June Dow:There’s double top resistance at 8060.
June Treasury Bonds:Momentum sell short day, there’s Fibonacci resistance at 12808, support is 12707 and 12629.
June Japanese Yen:Momentum buy day. 10080 is support, 10150 is Fibonacci resistance.
June Euro Currency:Momentum buy day, but kind of poor price action so far today.13120 is key support.
June British Pound:Turtle Soup type sale today; 14826 is support.
June Gold:Still in a breakout setup; still spinning its wheels.It’s going to move some time, really!
May Silver:Momentum sell short day; 1257.5 then 1250 are support.
May Copper: 22350 is tough resistance. Momentum is making a higher low; 21585 is support.
May Sugar:There’s a gap from 1290 to1278.Momentum is bullish.
May Cotton:It’s a momentum sell short day; resistance is 4835, support is 4764.
May Crude Oil:Stuck around $50, watch for a trending move out of here.
May Soybeans:1048 is double top resistance from January. Momentum is still bullish.
May Wheat:Hanging around 515 support, a failure targets $500.
May Corn:383 is key support.
May Bean Oil:Doji and narrow range yesterday, breakout day today.

This is the morning update to my Swing Trader’s Insight advisory service. For information on STI, and to sign up for a free two week trial, visit here. Swing Traders Insight Futures Watch List for April 16

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