Stocks are sharply higher.There were some good reports from China and Europe.The resolution of the GM bankruptcy is also helping as it’s a done deal now.The ISM manufacturing report is out at 9 AM.It’s estimated to have risen to 42%, a jump of nearly 2%.
June S&P:Broke above the recent high at 929.50, also above the 200 day MA at 921.04.The 2009 high at 939.25 is the next target.
June NASDAQ:Broke over the 2009 high at 1437.75, bullish MACD crossover.
June Dow:Broke over the May high at 8570.
September Treasury Bonds:Momentum sell short day; 11616 is first support.
June Japanese Yen:Momentum sell short day; 14070 then 10438 are support.
June British Pound:1.6413 is Fibonacci retracement resistance.
June Canadian Dollar:There’s resistance at old lows of 9240 to 9257; 9348 is a Fibonacci retracement objective.
August Gold:Momentum is at sell short levels but will the forex and commodity price factors continue to overwhelm this?970 is support; the 2009 high at 1009.80 is the next objective.
July Copper:Upside breakout over the 2009 high of 224.15.
July Cocoa:Doji Friday; breakout mode today.Friday’s high of 2646 is the upside breakout point.
July Coffee:Breakout day; held support at 137.00.
July Cotton: There’s Fibonacci resistance around 5790; that Area was also resistance in mid-May.
July Soybeans:Breakout day; trading at the 2009 high of 1200-6.1220-7 is a 50% retracement of the July 08/Dec 08 selloff.
July Soymeal:Breakout day; 382 is support, 387 is first resistance.
July Wheat:Breakout day; trading over the first breakout point at 646-2.
July Corn:Trading over resistance at the 200 day MA of 439-7.
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.
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: