Stocks are higher over optimism about the recovering health of the financial sector.  Jobless claims posted a bigger than expected fall.  This was good news, but is overshadowed by tomorrow’s employment report release.  Treasuries are flat; besides tomorrow’s NFP report, they also have an FOMC meeting next week and the quarterly refunding.  There’s a lot of paper to be bought.

Sept. S&P:  Momentum is bullish; yesterday’s high at 1006.50 is a pivot point today.
Sept. NASDAQ:  Recovered from overnight losses after tepid earnings from Cisco.  Momentum buy day; the first objective is Tuesday’s high at 1632.50.
Sept. Treasury Bonds:  More downside on a fresh bearish MACD crossover.  11506 is first support; the late July low at 11430 is the objective for this selloff.
Sept. Yen:  Breakout day; it’s under the first downside breakout point at 10479; 14032 is the first downside objective.
Sept. Euro Currency:  There’s a little channel forming; watch 14450 and 14355 as channel breakout points.
Sept. British Pound:  It’s under pressure after yesterday’s breakout day rally. 16776 is the downside price objective.
Sept. Canadian Dollar:  Watch trendline support at 9292. Resistance is 9360.
Dec. Gold: Decent rally on a breakout day setup.  Look to buy a pop over today’s high at 974.30.
Sept. Silver:  Cleared the first breakout point at 1485; 1500 is psychological resistance.
Sept. Cocoa:  It closed under Fibonacci support at 2872 yesterday; it’s on a fresh bearish MACD crossover.
Sept. Coffee:  Good rally on a momentum buy day; clearing Tuesday’s high at 13410 is key for the bulls.
Dec. Cotton:  Two dojis; should be ready to move soon.  Watch 6300 and 6150 for breakout points.
Nov Beans:  As with the BP, it’s under pressure after a breakout day rally yesterday.  1016 is support.
Dec. Corn:  It’s a momentum buy day, but watch the 349 area.  A move under there could hit sell stops.

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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