February retail sales were slightly better than expected, and January’s was revised higher-some good new.Jobless claims rose, and continuing claims are at a record high.A rise in unemployment tends to occur relatively late in the business cycle, as employers usually lay off people as a last resort.Treasury is auctioning a 30 year T Bond today, the last leg of the quarterly refunding. I’ve got slim pickings for interesting markets today.
Stock Indices:Breakout setup for all of them.
June S&P:first support is at yesterday’s low of 709.50.
June Dollar Index:Momentum buy day, 8800 support.
June Japanese Yen:Momentum sell short day.
June Euro Currency:Momentum sell short day.
June British Pound: 13796 is support.
April Gold:Momentum sell short day; 918.30 is resistance.
May Silver:Momentum sell short day, 1300 is resistance.
May Cotton:Breakout setup. 4223 and 4250 are resistance points.
April Crude Oil:Momentum buy day. 4466 is upside objective-Fibonacci retracement.
Soybeans, Corn, Wheat:Momentum buy days for everyone!
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