Stocks are lower; there’s not really any news driving it.The stress tests came and went, and the relief rally is taking a break.Stocks are lower, the dollar and Treasuries are higher.There are no reports out today. The USDA has a crop production and supply/demand report out before tomorrow morning’s grain open, and grain traders are watching the weather.Rainis delaying planting in much of the Midwest.

June S&P:Treat today as a breakout setup.There’s trendline support at 911; I have next support at 909.Resistance is 916 then 922.
June NASDAQ:Breakout setup; it already broke support at 1375; 1368.75 is next.
June Dow:8419 is trendline support.
June Treasury Bonds:Momentum is bullish; resistance is 12109.5
June Yen:Momentum sell day (can rally).10244 is Fibonacci resistance.
June Euro Currency:Momentum sell short day.13552 is first support.
June British Pound:Momentum sell short day; 15094 then 15058 is support.
June Canadian Dollar:Momentum sell short day; 8640 is first support.
July Silver:Breakout mode; they’ve been jerking around so far this session.
July Copper:Momentum is bullish; 20600 is support.MACD looks to be making a bearish crossover.
July Sugar:Momentum is bullish, but it looks like the buy day may come tomorrow.1513 is first support.
July Cocoa:Momentum sell short day; 2476 is first support.
June Crude Oil:Momentum sell short day; 5610 is key support.
July Soybeans:Breakout day; 1092 then 1085 are support.
July Wheat:Momentum sell short day; 584 is first support.
July Corn:Momentum sell short day, support is at the old high of 417-4 then 411.
July Soymeal:Breakout setup; trading at first support of 337.20. Is there a bearish MACD crossover coming?
July Bean Oil:Momentum sell short day; support is 3867.

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 Morning Watch List for May 11

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