Stocks are a bit higher on continued economic optimism.Japan and some European markets are closed for May Day.Consumer confidence is out at 8:55, the ISM Manufacturing Index is out at 9 AM.
June S&P:There was a doji yesterday; momentum is bullish. 862.75 is support, 875.50 is resistance.
June NASDAQ:Resistance is 1401.75, there’s trendline support at 1376.75
June Dow:8069 is support, 8179 is resistance.
June Treasury Bonds:Breakout setup for today.Broken support at 123-04 is resistance, 121-25 is support.
June Euro Currency:Doji yesterday could mean a directional move today.
June Canadian Dollar:Holding over broken resistance at the old high of 8368 is key for the bulls.The March high at 8508 is the next upside objective.
June Gold:Bearish under 887; 879 is late support for a ways.
July Silver:There’s trendline support at 1201.5 then the May low of 1177.Resistance is 1233.
July Copper: Head and shoulders of sorts?Clearing resistance at 209.50 would aid the bulls.
July Cocoa:Channel formed; holding 2350 support.Top of the channel is 2440 to 2466.
July Coffee:The recent high at 119.50 is key resistance for the bulls.
June Crude Oil:Triangle formed; the top trendline of the triangle is at 51.70
July Wheat:Trying to breakout up?545 then 550 are resistance.
July Bean Oil:Testing trendline resistance at 36.58.
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 Morning Watch List for May 1")
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