The Shanghai stock market rose 4.5% overnight, regaining Tuesday night’s loss.  Jobless claims rose by 15K; they were expected to fall by 8K.  This pushed stocks back to unchanged.  We also get the Philly Fed survey and Leading Economic Indicators at 9 AM Central; both are projected to have risen last month.

Sept. S&P:  995.63 is now support, it was a 50% retracement of the decline of the last week.  Momentum is at a sell short level.
Sept. NASDAQ:  The 50% retracement level is at 1600, and momentum is at short sell level.
Sept. Treasury Bonds:  Momentum buy day. Support is 11908, and there’s trendline resistance at 12018.
Sept. Yen:  Watch trendline support at 10568.
Sept. Euro Currency:  Momentum sell short day, trading around trendline resistance.
Sept. Canadian Dollar:  Momentum sell short day; the first downside target is 9068.  There trendline resistance overhead at 9165.
Dec. Gold:  Momentum sell short day; watch support around $940.
Sept. Silver:  1380 is key support.
Sept. Copper:  There’s good resistance at 280; momentum is bearish.
Oct. Sugar:  Watch the contract high at 2333; momentum doesn’t support a rally today.
Dec Coffee:  Breakout day; breakout points are 129 on the upside, 127 and 126.25 on the downside.
Dec. Cotton:  Breakout day; breakout points are 5875 and 6025.
Oct. Crude Oil:  Momentum sell short day; watch trendline resistance at 73.18.
Dec. Corn:  Breaking trendline resistance (at 325-6 today); is MACD ready for a bullish crossover?

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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