Durable goods orders were stronger than expected; we still have existing home sales at 9 AM and crude inventories at 9:30.Stocks are a bit higher as the recent back and forth continues.The Yen is sharply lower with renewed appetite for carry trades noted.Treasuries are higher after the latest pounding yesterday.Fundamentally I think the Treasury selloff is overdone; the economy isn’t strong enough for higher interest rates.Treasuries are protesting all the bailout money Washington is shoveling out; at some point something has to give.
June S&P: Momentum is at buy signal levels; 898.50 is resistance.
June NASDAQ:First resistance is at 1415.
June Treasury Bonds:117-19.5 is first resistance, then 11802.
June Japanese Yen:Big downside breakout, bearish MACD crossover coming.Broke support at the 200 day MA (1.0361) and Fibonacci retracement of 1.0341, 10266 is the next target.
June Euro Currency:Momentum buy day; resistance is 13889 then 13920.
June Gold:Breakout setup, bullish day so far.Clearing 960 is key for the bulls.
July Cocoa:Breakout over 2519 Fibonacci resistance, 2592 is the next objective.
July Sugar:Breakout day; I like selling if it breaks under 1548.
July Coffee:Oops buy today; 136 then 137 are resistance.
July Cotton:Breakout day; bearish under 5550.5450 is support, then 5424.
July Crude Oil:Watch the action at 9:30 when the inventory report is released.
July Natural Gas:Breakout day; I’m looking to sell.355 then 350 are breakout points.
August Live Cattle:Momentum buy day; 8340 then 8372 are upside targets.
July Soybeans:Breakout setup; 1195 is first upside breakout point, then major resistance at 1200.
July Wheat:Momentum sell short day after yesterday’s breakout rally; 612.50 is first support.
July Bean Oil: Narrow range/doji breakout setup today.
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.
.gif "Swing Traders Insight futures Watch List for May 28")
Copyright 2009
This feed is for personal, non-commercial use only.
The use of this feed on other websites breaches copyright. If this content is not in your news reader, it makes the page you are viewing an infringement of the copyright. (Digital Fingerprint:
f2ea78dd95959aa32f651cec20a16e23)
