RIM and Oracle posted good earnings, sort of offsetting a weak report from FedEx.  Yesterday a story came out that the Iranians stormed an oilfield in Iraq; the Iraqi oil minister is to make a statement about this shortly.  The dollar rallied, crude rallied, and gold sold off.  As Warren Buffett said, “When the tide goes out, you see who isn’t wearing a bathing suit” or something like that.  There are no economic releases today; there is a Cattle on Feed report out at 2 PM.

March S&P:  Buy day rally; 1093 is support, 1101.50 is resistance.
March NASDAQ:  Buy day rally; resistance is at 1794.
March Dow:  Buy day rally; there’s trend line support at 10268. The first rally objective is 10354.
March Coffee:  Treat as Sell short day; there’s support at the old Fib level of 118-23. 118-07 would be the next objective for a selloff.
March Yen:  Still on a breakout setup; watch the last swing low at 1.1030.
March Euro FX:  Should be a Buy day; I’m also looking for a Z day.
March British Pound:  1.6150 is a pivot point; it may consolidate around there today.
March Canadian Dollar:  Buy day; there’s trend line resistance at 9410.
Feb Gold:  Buy day rally; the 1110 area is now resistance.
March Silver:   Buy day; 17.45 is the first rally objective. 17.13 is the Buy day reference price.
March Copper:  Should be a Buy day but it’s not acting that way.  Yesterday’s low at 311.55 is the reference price.
March Cocoa:  Buy day; there’s trend line support at 3393.
March Sugar:  Sell Short day; this should be a break to buy. The old contract high at 26.25 is support.
March Cotton:  Breakout setup, the overnight high and low are the first breakout points.
Feb. Crude Oil:  Yesterday’s doji and inside day give today breakout potential.  Cleared the first upside breakout point at the Weds. high of 75.00.  75.62 is Fib retracement resistance.
Feb. Live Cattle:  Breakout setup, breakout points are 85.09 up (trend line) and 84.37 (20 day EMA).
Feb. Lean Hogs:  Should be a Buy day, but the action is negative so far.  That’s always a good thing to tell them. 55.77 is the midpoint of the past two week’s rally.
Jan. Soybeans:  Buy day, I’m using last week’s low at 1019-0 as the reference price.
March Wheat:  Buy day, Z day. Broken fib support at 532 is now resistance.
March Corn:  Buy day; holding Fib support at 396.    400 then 403-4 are resistance.

This is a sample of the analysis from 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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