The ADP jobs report showed a los of 491K for April; this was better than expected.It rallied stocks, pushed down bonds.The energy inventory report is out at 9:30 Chicago time.Tomorrow we get the results of the stress tests, and the ECB and BOE meet.Results of the stress tests are being leaked; B of A and Citigroup have a lot of equity to raise.

June S&P:Cleared yesterday’s 905 high; momentum is bullish.I’ve got a breakout point at 913 on the upside.
June Treasury Bonds:Breakout setup; watch 121-29 on the downside, 122-29 on the upside.
June Japanese Yen:An overnight rally attempt failed; breakout setup for today.Support is 100.50 to 100.40.
June Canadian Dollar:breakout setup, 8508 is a pivot point today; 8560 to 8565 is the upside breakout point.
June Gold:Good bounce off support under $900; resistance is 917 then 919.
July Copper:Held Fib support at 207; yesterday’s high of 217.70 is resistance.
July Sugar:Held support at the old high of 1494; momentum is bullish.
July Cocoa: A good example of breakout trades reversing the next day;2342 is the last support before the recent 2300 low.
June Crude Oil:Testing trendline resistance at 54.93, momentum is bullish. Be alert when the report comes out.
July Soybeans:Breakout day; yesterday’s high and low are the first breakout points I’m watching.
July Wheat:Breakout setup, so far it’s acting like a momentum buy day (which it is).
July Corn:Big range then a doji yesterday.Momentum buy day; 406-2 then 408-4 are resistance.
July Soymeal:Chart looks very much like beans; breakout setup.

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 6

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