It’s Columbus Day and thanksgiving in Canada, so trading may be thin.  Stocks are higher and the Dollar is lower.  I don’t know which is leading which; they’re two sides of the same coin these days.  It’s a heavy week for earnings; there’s some optimism after last week’s good report from Alcoa.  The financial picture is helping commodity prices. Grains are being aided by the freeze in the Midwest last night; it ended the growing season for any late developing areas.

Dec. S&P:  1075.75 was the last swing high; MACD is on the verge of a bullish crossover.
Dec. NASDAQ:  Cleared the lower swing high at 1732.50; 1753.25 is next.
Dec. Dow:  9857 is swing high resistance here.
Dec T Bonds:  It’s on a momentum buy signal; regaining 120-03 trendline support will aid the bulls. It’s still a weak market; I’d be interested in selling a rally to the 121 area.
Dec. Yen:  Followthrough selling from Friday’s breakout sale; 11090 and 11077 are support.  Momentum is on a buy signal.
Dec. British Pound:  Testing the lows; I wrote about the BP here.
Dec. Gold:  Trade or Fade labeled today a breakout day; momentum is bullish today.
Dec Silver:  ToF has today as a breakout day here as well.  Thursday’s high at 1795.5 is the upside breakout point; old high support at 1769 on the downside.
March Sugar:  A momentum buy day; the old low at 2195 is resistance.
Dec. Cotton:  Breakout day; it’s already over first resistance at Thursday’s high of 64.08. The 9/17 high of 73.58 is the first upside objective.
Nov Soybeans:  Cleared Fibonacci retracement resistance at 972-4; the 9/15 high of 977-6 is next resistance.
Dec. Soymeal: Broke trendline resistance at 298.40; there’s Fib retracement resistance at 303.50.
Dec. Wheat:  Breakout setup today.  It held Fib retracement at 461-4; 483 is the next upside breakout.
Dec. Corn:  Doji on Friday; 8/3 high at 376-0 is the next resistance.

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.

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