Stocks are seeing followthrough buying after yesterday’s big rally. A bit of caution is in order as yesterday’s rally was a breakout buy, and they have a habit of reversing themselves the following session. Stock futures are close to bullish MACD crossovers. Bank shares are higher in spite of a report of a big loss at UBS. Crude inventories are out at 9:30.
June S&P:(rollover day is tomorrow). Be careful about the long side after a breakout buy day.736.75 is important resistance.
June NASDAQ:1125 is resistance.
June Dow Jones:Momentum sell short day here.
June Treasury Bonds:Momentum buy day.
June Japanese Yen:Breakout day, 10250 is resistance.
June Eurocurrency:Back over trendline resistance at 12756.
June British Pound:Momentum buy day.Breakout point around 13890.
June Canadian Dollar:Momentum sell short day, 7875 is resistance.
April Gold:Should be momentum buy day. Watch yesterday’s low at 891.10.
May Silver:1247 is support.
May Copper:Triangle forming, should be getting close to a breakout.
May Cocoa:When will it break out?
May Sugar:1277 and 1288 are resistance points.
May Coffee:Breakout day, 107 resistance, 10550 is support.
April Crude Oil:Momentum buy day, 4414 is support.
May Soybeans:895 is resistance.
May Wheat:540 is resistance, 528 is trendline support.
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