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. Swing Traders Insight Futures Watch List for April 20

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