There wasn’t any substantial news overnight, and there’s no economic releases of importance due today-we’re mostly looking at some reversals of yesterday’s moves.
June S&P:Momentum sell short day; the breakout point at 801.50, 800, and 798 are support. Regaining yesterday’s high at 821 would be impressive.
June NASDAQ:Momentum sell short day; 1227 to 1225 is support.
June Treasury Bonds:Bearish under 12805, 12703 is downside objective.
June Japanese Yen:Downside move on a breakout day; trendline support is 10152.
June Euro Currency:Lots of resistance at 13680, 13520 is support.Momentum is giving a buy signal; looks like it will be tomorrow.
June British Pound:Upside breakout over 14640 resistance.
June Canadian Dollar:good rally on a doji, breakout day, 8200 is resistance.
April Gold:925.30 was a 50% retracement of last week’s rally; 915 is next support. Momentum buy day tomorrow.
May Silver:1325 is support today.
May Copper:Trendline and Fibonacci support around 176.70.
May Sugar:Watch for a buy opportunity. 1325 and 1310 are support.
May Coffee: Breakout setup for today. Watch 118 and 116 as potential breakout points.
May Cotton: It’s ripe for a correction.
May Soybeans:Holding 950 last night was bullish.
May Corn:The past four closes have been within 1.5 cents of each other.I’m still watching 398 and 393 as potential breakout points.
This is the morning update for my Swing Trader’s Insight futures newsletter. For more information on STI, go here.
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