Stocks are slightly lower this morning.Kohl’s had batter than expected earnings, Wal Mart’s sales beat forecasts; they said this is the most challenging environment in decades.Retailers’ earnings help cushion yesterday’s retail sales bomb.Elsewhere, the Dollar is higher, many commodities lower as traders take a show me stance to economic recovery and demand rebound. PPI was about as expected, jobless claims rose last week after recent declines.

June S&P:Momentum is on a buy day signal but the market is skittish, and MACD is on a new bearish cross.Yesterday’s low of 880 is pivot today with support at 872.
June NASDAQ:Chart looks better than the Spoos, momentum buy day.
June Treasury Bonds:Working on clearing the May high of 123-03.5. 123-15 is the next upside objective.There’s trendline support at 122-11.
June Japanese Yen:Momentum sell short day; watch the April high of 10464.
June Canadian Dollar:Momentum buy day; holding support around 8500 is key.
June Gold:Momentum sell short day; testing trendline support at 921.50.
July Silver:Support is 1370. Momentum is at buy day levels.
July Cocoa: Broke under the May low at 2300; watch that level for the balance of the session.
July Sugar:testing trendline support at 1524.
July Coffee:Support is 12350; wait to buy.
July Cotton:Bearish MACD crossover; watch trendline support at 5695.
June Crude Oil:Watch support at the old high of 5610. I’m going to roll to July.
June Live Cattle:Momentum buy day; resistance is 8307.
July Soybeans:Pushing back into the recent channel; support is 1113-6. A close over 1130 gets the bulls going.
July Wheat:Momentum buy day, watch 580 support.
July Corn:Watch support at the old high of 417-4.
July Soymeal:Momentum sell short day; 351 is a pivot today, 348.50 is next support.
July Bean Oil:will it hold together?Support is 3860 to 3850.

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 May 14

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