B of A had a poor earnings report. It showed declining credit quality and higher charge offs.GE’s report is out; I haven’t had time to read through it.CIT is negotiating with lenders to try to stave off bankruptcy.Although it’s generally thought A CIT bankruptcy wouldn’t cause a cataclysm on the scale of Lehman or AIG, but the resolution and fallout remain to be seen. May housing starts showed a bigger than expected jump.There are no other reports out today.

Sept. S&P:Will it continue to hold up?Staying over 928 is the key.
Sept. NASDAQ:Continues to find resistance at the June high of 1517.75.
Sept. Treasury Bonds:Breakout day.I’m watching a downside breakout point at 116-11.
Sept. Euro Currency:Trade or Fade labeled today a breakout day.Watch support at 14060.
Sept. British Pound:Watch support at 16260.
Sept. Canadian Dollar:Breakout day, watch breakout points at 9000 and 8900.
August Gold:Breakout day, watch 944 and 930.
Sept. Silver:Breakout day, trading back to my first breakout point at 13.13.
Sept Copper:Strong market, held support at 237.
Sept. Cocoa:Momentum buy day.Held 2636 support, resistance is at Wednesday’s high of 2754.
Oct. Sugar:Testing Fibonacci support at 1730, next support is 1705.
August Crude oil:Momentum sell short day, stopped at 62.33 resistance.Watch trendline support at 60.98; a break could push them down.
August Natural Gas:It looks to be on the edge of a real upturn.Watch trendline resistance at 3.628; I’m also watching for a bullish MACD crossover.
Nov. Soybeans:was that a successful retest of the recent 881-2 low?Resistance is 910-4 and 917.
Dec. Bean Oil: Yesterday it held Fibonacci support at 34.00; overnight it pushed up to the recent high of 35.17. MACD looks ready for a bullish crossover, first upside target would be around 36.10.
Sept. Wheat:Is this the time to buy it? I’m bullish, but it’s been a real back and forth affair.540 is resistance, 549 is the key for the bulls.
Dec. Corn: Regaining 328 takes off some pressure; clearing 337 would help the bulls.

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.

Copyright 2009
This feed is for personal, non-commercial use only.
The use of this feed on other websites breaches copyright. If this content is not in your news reader, it makes the page you are viewing an infringement of the copyright. (Digital Fingerprint:

Futuresinsightblogcom?d=yIl2AUoC8zA Futuresinsightblogcom?d=dnMXMwOfBR0 Futuresinsightblogcom?i=hkTSpFVVoms:zl4DT-5G7ns:V_sGLiPBpWU Futuresinsightblogcom?i=hkTSpFVVoms:zl4DT-5G7ns:gIN9vFwOqvQ Futuresinsightblogcom?d=TzevzKxY174