Stocks are higher, buoyed by earnings reports from American Express and Ford.Durable goods orders fell by 0.8%; this was better than expected.Existing home sales are out at 9 AM.Banks are supposed to get the results of the stress tests today; the [public has to wait until May 4th.
June S&P:Trade or Fade labeled today a Trade day. Yesterday had the narrowest range of the previous four sessions.Wednesday’s high of 858.75 is resistance, support is 843.
June NASDAQ:Breakout day; watch the double top around 1361.
June Treasury Bonds:Narrow range breakout setup.Watch yesterday’s low of 12412.5.
June Japanese Yen:Broke out over 10250 resistance (read my blog post here.).10384 is the next target.
June Euro Currency:Third day higher, momentum sell short signal.Resistance is 13248.
June British Pound:Momentum sell short day; broke to support at 14570 overnight and recovered.14732 is resistance.
June Gold:917.50 is the next upside target.
July Silver:Testing resistance at the April high of 1293. 1300 then trendline resistance at 1307 are next.
July Copper:Momentum buy day, cleared broken support at 20085.
July Cocoa:Momentum sell short day. Watch support at the top of the channel at 2440.
July Sugar:Upside breakout over the April high of 1385.
July Coffee:Breakout setup, watch resistance at 119.
June Crude Oil:Trading at Fib resistance of 5130. Momentum sell short signal.
July Soybeans:Is the rally coming to an end?MACD looks ready for a bearish crossover, and they’re falling away from the January high of 1076.
July Wheat:545 is resistance, 532 is support.
July Corn:Momentum sell short day; 385 is next support.
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 24")
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