Stocks are about unchanged ahead of data this morning.  At 7:30 we get PPI (expected + 0.8%, core +0.1%) and retail sales (+2.0%, +0.4 ex-autos).  They markets will likely key off the 7:30 data for direction today.  Stocks are keeping a firm tone after yesterday afternoon’s runup.  The Dollar is treading water, and metals are quiet.  Crude oil is higher ahead of tomorrow’s inventory reports.

Dec. S&P:  Momentum is still bullish; resistance is yesterday’s high of 1045.25; clearing that targets 1050.    First support is 1039.50.
Dec. Dow:  The lagard of the stock indices.  A close over the old swing high at 9576 would help the market.
Dec T Bonds:   It’s got a breakout setup today (NR4). They couldn’t hold Fibonacci retracement support at 19-16; 119 is the next support.  Momentum should be on a buy signal tomorrow,.
Dec. Japanese Yen:  It’s a momentum sell short day; the July high at 10895 is the next downside target.
Dec Euro Currency:  Momentum is bullish; it needs to take out Friday’s high at 14635 to extend the rally.
Dec British Pound:  The next downside target is 16427 (50% retracement of the Sept. rally).  Tomorrow should be a momentum buy day.
Dec. Canadain Dollar:  A quiet session, holding around unchanged.  Might be settingt up for a breakout trade tomorrow.
Dec. Gold:  Momentum is dropping to buy signal levels; watch support at 998.50.
Dec. Copper:  Momentum buy day; targeting 286.
March Sugar:  It has around 2385.  Watch trednline support at 2286.
Nov. Crude Oil:  A rally on a momentum buy day. Resistance is 7030; watch trendline support at 6863. The inventory reports are tonight and tomrrow.
Dec. Lean Hogs:  They held trendline support yesterday (that’s at 4857 today). It’s a momentum buy dayLook to buy; first rally objective is 5027.
Dec. Wheat:  It’s a momentum buy day; holding 450 support is key for a rally.  There’s trendline resistance at 465-4.
Dec. Corn:  Breakout setup; overngith it rallied over the first breakout point at 320.  There’s trendlien resistance at 324-4.

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.

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:

Futuresinsightblogcom?d=yIl2AUoC8zA Futuresinsightblogcom?d=dnMXMwOfBR0 Futuresinsightblogcom?i=TuGjIL8m1k8:ssK-0iOKzOY:V_sGLiPBpWU Futuresinsightblogcom?i=TuGjIL8m1k8:ssK-0iOKzOY:gIN9vFwOqvQ Futuresinsightblogcom?d=TzevzKxY174