Stocks have turned lower overnight; earnings continue to be a worry after B. of A. got pummeled yesterday.There are concerns about what the bank stress tests will show. Yesterday a blog (of very questionable legitimacy) claimed they had leaked results, their alleged report showed 16 of the 19 biggest US banks are technically insolvent, and that any two of them could take down the FDIC.Treasury is planning to release results on May 4th. There are no economic releases of consequence today.

June S&P:Momentum is on a buy signal, but the failure to hold 803 is bearish. 816.75 is next support. MACD is nearing a bearish crossover.
June NASDAQ:Momentum buy day, yesterday’s low of 1301.50 to 1300 is support.
June Dow:Trading under Fibonacci support at 7759.
June Treasury Bonds:Yesterday’s inside day and range contraction could give a directional move today.12711 is resistance.
June Japanese Yen: Momentum sell short day; 10165 then 10150 are support.
June Euro Currency:Momentum buy day; yesterday’s low of 12882 is support, 12983 is resistance.
June British Pound:Momentum buy day (but bearish MACD crossover). 14590 is resistance.
June Canadian Dollar:sold off after the Bank of Canada meeting. Bearish MACD crossover, broke trendline support at 8028.
June Gold:Followthrough buying today, $900 will be the test for the bulls.
July Copper:Testing Fibonacci support at 20085, bearish MACD crossover coming?
July Sugar:Breaking under recent lows, 1316 to 1312 is the last support before the recent 1274 swing low.
July Coffee:Breakout setup; be ready for the breakout move.
June Crude Oil:Broke the 50% retracement support at 4848; 4668 is the next target.
July Soybeans:Will this be a successful test of 1000?Momentum buy day; 1028 is the first upside target.
July Wheat:Triple bottom around 511;bulls need to get it over 525.

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 21

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