There wasn’t much top tier news overnight. S&P reaffirmed Ireland’s sovereign credit rating, which helped the euro. Greek debt spreads continue to widen as anxiety mounts about its solvency. Dubai World meets with its creditors today; the outcome of the talks could be a market event. There’s no economic news out today. The Dollar’s correction is pretty light so far.
March S&P: Sell Day, can rally. Trying to clear Friday’s high at 1102.75; 1107 is the next resistance.
March NASDAQ: Breakout over resistance at 1814.
March Dow: Doji Friday, Taylor Buy Day. 10356 is the big rally objective.
March T Bonds: 117-08 and 117-05 are support. Looks like tomorrow will be the Buy Day.
March Yen: On a Buy Day signal; the 12/4 swing low at 1.1024 is the Buy Day reference price.
March Euro FX: Buy Day; first resistance is 1.4378.
March British Pound: Selling off after it couldn’t clear resistance at 1.6150.
March Canadian Dollar: There’s trend line resistance at 9489. I’d sell out longs today; tomorrow will be the Sell Short Day.
Feb Gold: Sell Day; 1119.30 is Fib resistance. It’s bullish over 1110.20.
March Silver: Breakout day (ID/NR7) rally; resistance is at 1745.5.
March Copper: Sell Day; hit my primary rally objective at 316.15.
March Cocoa: Buy Day rally; resistance is at 3306.
March Sugar: The lower open set up a Power Buy, the objective would be 26.94.
March Cotton: Buy day. Support is 74.94, resistance is at 75.54.
Feb. Crude Oil: Sell Day rally; resistance is at 75.62. There’s trend line support around 74.30.
March Soybeans: Buy Day rally; 1019-7 is key support (50% retracement of the Nov. rally)
March Soymeal: Buy Day; 300 is key support.
March Wheat: Sell Day; the 530 to 532 area is key 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.
The information contained here includes information from sources believed to be reliable and accurate, but no guarantee is made as to accuracy, nor do they purport to be complete. Opinions are subject to change without notice. Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts or commodity options can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results.
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