Stocks rose after results from Lowes, which was better than expected.This was viewed as a sign of good news for retailers and (sort of) the housing sector; in the statement they said they’ve seen consumer confidence improve and housing turnover increase in some areas.That being said, much of their improved results came from cost cutting, not increased sales, which isn’t as bullish.There are no economic reports out today.Crude oil is higher on hopes for an economic recovery.Grains are lower as the Midwest is expected to be drier for the next 7 to 10 days, which should help planting.The Pound is higher on ideas that the UK housing market is tightening.
June S&P:Held trendline support at 877.50, resistance is 894.75.
June NASDAQ:Breakout setup today; resistance is 1365 then 1373.
June Treasury Bonds:A quiet start, 12304 is a pivot point today.Resistance is at Friday’s high of 123-23.
June Japanese Yen:Stalling at Fibonacci resistance of 10534, support is 10380 to 10370.
June Euro Currency:Momentum buy day; 13525 is the first upside target.
June British Pound:Breakout setup.Held trendline support at 15105; last week’s high of 15352 is the target/resistance.
June Canadian Dollar:Momentum buy day after a breakout day Friday.Resistance is 8564 then 8591.
June Gold:A quiet start today after a good advance last week.There’s trendline support at 930.50.
July Silver:Breakout day; support is 1377 then 1370.Resistance is 1410.
July Copper:Breakout day; resistance is 20420 then 20620.
July Sugar:Momentum buy day; held support at 1490, Resistance is 1533 to 1536.
July Coffee:Breakout day; watch last week’s high at 13075.
July Cotton: Momentum buy day after Friday’s big breakout down, scalp only on the long side.
June Crude Oil:Good rally on a momentum buy day; resistance is 5880 then 5905.
July Natural Gas:Rallying on a momentum buy day; 4.302 then 4.337 are resistance.
July Soybeans:Followthrough selling today for a Turnaround Tuesday TM tomorrow? 1113 is support today.
July Wheat: Lower open, recovered losses last night.570 is a pivot point; 575-4 is resistance and 570 is support.
July Corn:Another candidate for a turnaround Tuesday.Important support at 402.
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.gif "Swing Traders Insight Futures Watch List for May 18")
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