Stocks are lower; Citigroup advised selling US equities (after they said to sell bank stocks last week). The IMF came out with a report that “toxic debt” could reach $4 trillion.That’s a lot of toxicity.This compounded the comment by Calyon’s banking analyst to sell bank stocks, and negative comments from Meredith Whitney.US consumer credit is out at 1 PM; it’s supposed to show a big drop as consumers deleverage.

June S&P:Will be set up for a momentum buy day tomorrow; today, watch for support at 810.
June NASDAQ:Support is 1280. Yesterday’s doji could lead to a directional move today.
June Treasury Bonds:Momentum is bullish; there’s resistance at 12624.5.
June Japanese Yen:Momentum buy day; 10050 is resistance, 10150 is the next objective.
June British Pound:Momentum is bullish; 14640 is support.
June Canadian Dollar:8028 is Fibonacci retracement support.
June Gold:Momentum buy day; 885 is resistance.
May Silver:Momentum buy day; support is at the last swing low of 1189.
May Cocoa:Momentum buy day after yesterday’s dramatic selloff, 2500 is support, 2620 is the next upside objective.
May Sugar:Momentum buy day, resistance at the broken low of 1242.
May Coffee:Momentum buy day, held 116 support, 11775 is objective.
May Crude Oil:4980 is Fibonacci retracement support.
May Soybeans:Doji yesterday, doji overnight. Look for a move today.
May Wheat:545 is support.
May Corn:Flat top triangle. They’re usually bearish, but it’s on the verge of breaking the lower trendline.
May Soymeal:The old high at 30880 is still key resistance.
May Bean Oil:trading around the old high at 3509; a second close over it would be bullish.

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 7

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