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. Swing Traders Insight Futures Watch List for June 1

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