Stocks are down. The Bundesbank said that Q1 of ‘09 will be worse than Q4 of ‘08.Bank of America posted a big earnings number, but this was mostly due to one time items. The stock is trading poorly. B of A’s report is weighing on the banking sector.Leading Economic Indicators for March are out at 9 AM, the estimate is for a decline of 0.4%.
June S&P:Currently trading around Fibonacci support at 851.75, 847 is next support.
June NASDAQ:Range contraction and doji=directional move today.Support is 1327, then 1319.
June Dow:Doji Friday; Fibonacci support is 7976; there’s also trendline support at 7943.
June Treasury Bonds: Reversing Friday’s breakout sale, resistance is 12608 then 12620.
June Japanese Yen:Two dojis last week, good rally today.Last week’s high at 10199 is resistance.
June British Pound:Broke Fibonacci and swing low support around 14580; next target is 14477.Bearish MACD crossover coming?
June Canadian Dollar:Narrow range day breakout setup; currently trading at support of 8119.
June Gold:Held 865 support overnight, 880 then 884 are resistance.
July Copper:Broke trendline support at 217.55; next support is 209.60.
July Cocoa:Trading on support at 2360; watch for a breakout down if it’s taken out.
July Coffee:It should be a momentum buy day, not much action yet. Friday’s low of 112.80 is support, 115 is key resistance.
June Crude Oil:Downside breakout of the triangle (see my blog post here.). Reaching support at the bottom of the triangle at 4905.
July Wheat:Breakout setup; closed overnight at 525 support.
July Soymeal:Formed a double top at 326; 314 is support.
July Bean Oil:Breakout setup; it’s already under support of 3654, 3625 is next target.
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.
.gif "Swing Traders Insight Futures Watch List for April 20")
Copyright 2009
This feed is for personal, non-commercial use only.
The use of this feed on other websites breaches copyright. If this content is not in your news reader, it makes the page you are viewing an infringement of the copyright. (Digital Fingerprint:
f2ea78dd95959aa32f651cec20a16e23)
