Sorry this is late; I had to clean up old trendlines off my charts. The markets don’t stop because you’re on vacation.

Stocks are lower; Asian stocks fell on the weak US consumer confidence number released Friday.  A weak earnings report from Lowe’s was balanced out by a good Empire State manufacturing survey, leaving markets where they were before these releases.  The only other news out today are TIC flows at 8 AM.  Economic concerns are weighing on commodity prices, notably crude oil.  This in turn is pressuring other commodities.  Corn and soybeans are lower on favorable weather forecasts for this week.  Rain is expected in the Midwest this week; this is timely, especially for soybeans.

Sept. S&P:  Bearish MACD crossover; its testing last week’s low at 985.75.  Tomorrow should have a momentum buy signal.
Sept. NASDAQ:  Same look as the Spoos; last week’s low was 1585.75.
Sept. Treasury Bonds:  Third day higher; cleared last week’s high at 11909.5.  There’s trendline resistance at 12020.5 today.
Sept. Yen:  Bullish MACD crossover, narrow range breakout day.  10568 is a 50% retracement of the July/August selloff.  The first upside breakout point is Friday’s high of 10593.
Sept. Euro Currency:  Broke last week’s low at 14087; the lat July low at 14008 is the next target.
Sept Canadian Dollar:  Trading around last week’s low of 9028; 8969 is Fibonacci retracement support.
December Gold:  Broke trendline support at 946; the lat July low at 927.60 is the next support.
Sept. Silver:  Broke Fibonacci retracement support at 1417; watch trendline support at 1395.5.
Sept. Copper:  Bearish MACD crossover coming?  There’s triple bottom support around 270.
October Sugar:  Narrow range and doji breakout setup; trading under first support at Friday’s low of 2153.
December Coffee:  129.03 is a 50% retracement of the late July to August rally; bearish MACD crossover.
October Crude Oil:  Broke trendline support at 6887; 6747 is a 50% retracement of the lat July to August rally.
November Soybeans:  Bearish MACD crossover coming.  951-6 is the last Fibonacci retracement support level from the past month’s rally.
Dec. Corn:  There’s a double bottom at 321-4; the late July low at 314-6 is the next downside 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.

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