The June NASDAQ 100 was higher overnight as it extends Thursday's rally above the upper
boundary of this year's trading range crossing at 1286.50. Stochastics and the RSI are diverging
but are bullish signaling that sideways to higher prices are possible near-term. If June extends the
rally off March's low, the reaction high crossing at 1386.25 is the next upside target. Closes below
the 20-day moving average crossing at 1206.28 are needed to confirm that a short-term top has
been posted. First resistance is the overnight high crossing at 1311.75. Second resistance is the
reaction high crossing at 1386.25. First support is the 10-day moving average crossing at 1257.32.
Second support is the 20-day moving average crossing at 1206.28. The June NASDAQ 100 was
up 8.00 pts. at 1309.50 as of 5:51 AM CST. Overnight action sets the stage for a higher opening
by March NASDAQ 100 when the day session begins later this morning.
The June S&P 500 index was higher overnight as it extends Thursday's rally. Stochastics and the
RSI are diverging but are turning bullish signaling that sideways to higher prices are possible near-
term. If June extends the rally off March's low, February's high crossing at 867.50 is the next
upside target. Closes below the 20-day moving average crossing at 780.25 are needed to confirm
that a short-term top has been posted. First resistance is Thursday's high crossing at 842.00.
Second resistance is February's high crossing at 867.50. First support is the 10-day moving
average crossing at 813.36. Second support is the 20-day moving average crossing at 780.25. The
June S&P 500 Index was up 2.00 pts. at 837.50 as of 5:53 AM CST. Overnight action sets the
stage for a higher opening by the March S&P 500 index when the day session begins later this
morning.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
How to Properly Invest With Low Risk
Free Report: http://broadcast.ino.com/redirect/?linkid=962
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Thousands of traders daily are looking to protect their 401k and
improve their overall portfolio. The free report from www.iDayo.com
you can learn that. Visit below for the report:
http://broadcast.ino.com/redirect/?linkid=962
You'll also find great articles there that explain risk reduction
methods and how to find stocks that work in any market environment.
If you prefer, you can call 888-LOW RISK to discuss how to help you
improve your returns, or you can send your phone and the best
time to call you. Another great source of information is the weekly
Conference Call and Webinar, "Safe, Defensive & Profitable
Investing". These are held every Monday at 9:00 PM (Eastern Time).
Call the office or click Conference Calls on our website for
information on how to attend either the Conference Call (audio only,
by telephone) or the Webinar (audio and slides over the Internet).
Visit the link below and find the "Conference Calls" tab at the top
http://broadcast.ino.com/redirect/?linkid=962
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
_____________________________________________________________________
INTEREST RATES http://quotes.ino.com/exchanges/?c=interest
June T-bonds were lower overnight due to profit taking as it extends Thursday's key reversal down
and is trading below initial support marked by the 10-day moving average crossing at 1283.12.
Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible
near-term. If June extends the rebound off last week's low, the reaction high crossing at 132-18 is
the next upside target. Closes below the 20-day moving average crossing at 127-27 would confirm
that a short-term top has been posted. First resistance is Thursday's high crossing at 130-30.
Second resistance is March's high crossing at 132-18. First support is the overnight low crossing
at 128-20. Second support is the 20-day moving average crossing at 127-27.
ENERGY MARKETS http://quotes.ino.com/exchanges/?c=energy
May crude oil was higher overnight as it extends Thursday's rally above the 10-day moving
average crossing at 51.95. Stochastics and the RSI are turning bullish signaling that sideways to
higher prices are possible near-term. If May extends this week's rally, the reaction high crossing at
54.66 then January's high crossing at 58.31 are the next downside targets. Closes below
Wednesday's low crossing at 47.26 would confirm that a short-term top has been posted. First
resistance is the overnight high crossing at 53.90. Second resistance is March's high crossing at
54.66. First support is the 20-day moving average crossing at 50.23. Second support is
Wednesday's low crossing at 47.26.
May heating oil was higher overnight as it extends Thursday's rally above the 10-day moving
average crossing at 143.50. Stochastics and the RSI are turning bullish signaling that sideways to
higher prices are possible near-term. If May extends this week's rally, March's high crossing at
151.54 is the next upside target. Closes below Wednesday's low crossing at 129.98 would confirm
that a short-term top has been posted. First resistance is the overnight high crossing at 146.50.
Second resistance is March's high crossing at 151.54. First support is the 20-day moving average
crossing at 134.73. Second support is Wednesday's low crossing at 129.98.
May unleaded gas was higher overnight as it extends Thursday's rally and is trading above the 10-
day moving average crossing at 147.23. Stochastics and the RSI are turning neutral signaling that
sideways to higher prices are possible near-term. If May extends this week's rally, March's high
crossing at 155.46 is the next upside target. Closes below Wednesday's low crossing at 134.11
would confirm that a short-term top has been posted. First resistance is Thursday's high crossing
at 148.40. Second resistance is March's high crossing at 155.46. First support is the 20-day
moving average crossing at 142.49. Second support is Wednesday's low crossing at 134.11.
May Henry natural gas was higher due to short covering overnight as it consolidates some of this
week's decline. Stochastics and the RSI are oversold but remain neutral to bearish signaling that
sideways to lower prices are possible near-term. If May extends this year's decline, monthly
support crossing at 3.390 is the next downside target. Closes above the 10-day moving average
crossing at 3.981 would signal that a low has been posted. First resistance is the 10-day moving
average crossing at 3.981. Second resistance is last Thursday's high crossing at 4.467. First
support is Wednesday's low crossing at 3.629. Second support is monthly support crossing at
3.390.
CURRENCIES
The June Dollar was steady to slightly lower overnight as it extends Thursday's decline below the
10-day moving average crossing at 85.05. Stochastics and the RSI are turning neutral to bearish
signaling that sideways to lower prices are possible near-term. Multiple closes below the 10-day
moving average crossing at 85.05 would temper the near-term friendly outlook in the market.
Closes above Monday's high crossing at 86.61 are needed to confirm that a short-term low has
been posted. First resistance is the 20-day moving average crossing at 86.09. Second resistance is
Monday's high crossing at 86.61. First support is Thursday's low crossing at 84.46. Second
support is March's low crossing at 83.14.
The June Euro was steady to slightly lower covering overnight as it consolidates some of
Thursday's rally but remains above the 10-day moving average crossing at 134.080. Stochastics
and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-
term. Closes above the 10-day moving average crossing at 134.128 would temper the near-term
bearish outlook in the market while opening the door for a possible test of March's high crossing at
137.37 later this month. Closes below Monday's low crossing at 131.140 are needed to confirm
that a short-term top has been posted. First resistance is Thursday's high crossing at 135.190.
Second resistance is March's high crossing at 137.37. First support is the 20-day moving average
crossing at 132.278. Second support is Monday's low crossing at 131.140.
The June British Pound was slightly higher overnight as it extends this week's rally. Stochastics
and the RSI are bullish signaling that sideways to higher prices are possible near-term. If June
extends this week's rally, February's high crossing at 1.4950 is the next upside target. Closes
below Monday's low crossing at 1.4112 are needed to confirm that a short-term top has been
posted. First resistance is the overnight high crossing at 1.4834. Second resistance is February's
high crossing at 1.4950. First support is the 10-day moving average crossing at 1.4500. Second
support is the 20-day moving average crossing at 1.4279.
The June Swiss Franc was slightly higher overnight as it consolidates above the 20-day moving
average crossing at .8727. Stochastics and the RSI remain neutral to bearish signaling that
sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing
at .8727 are needed to confirm that a short-term top has been posted. Closes above the 10-day
moving average crossing at .8825 would temper the near-term bearish outlook. First resistance is
the 10-day moving average crossing at .8825. Second resistance is the reaction high crossing at
.8980. First support is the 20-day moving average crossing at .8727. Second support is Monday's
low crossing at .8672.
The June Canadian Dollar was higher due to short covering overnight and trading above the 10-day
moving average crossing at 80.59. Stochastics and the RSI are turning neutral to bullish signaling
that sideways to higher prices are possible near-term. Closes above the 10-day moving average
crossing at 80.59 would confirm that a short-term low has been posted while opening the door for a
possible test of March's high crossing at 82.09 later this month. Closes below Wednesday's low
crossing at 78.71 would confirm that a short-term top has been posted. First resistance is
Thursday's high crossing at 81.10. Second resistance is March's high crossing at 82.09. First
support is the 20-day moving average crossing at 79.74. Second support is Wednesday's low
crossing at 78.71.
The June Japanese Yen was steady to slightly lower overnight as it extends Thursday's decline
below March's low. Stochastics and the RSI remain bearish signaling that sideways to lower prices
are possible near-term. If June extends the overnight decline, the 75% retracement level of the 2008
rally crossing at .9799 is the next downside target. Closes above the 20-day moving average
crossing at .10234 would temper the near-term bearish outlook. First resistance is the 10-day
moving average crossing at .10188. Second resistance is the 20-day moving average crossing at
.10234. First support is the overnight low crossing at .9993. Second support is the 75%
retracement level crossing at .9799.
NEW! INO TV - http://tv.ino.com/ - Watch From Your Computer - Avoiding Common Trading Pitfalls by Mark Cook. In this fast-paced video, trading champion Mark Cook shares his ideas for making winning trades. As the first place finisher in the options division of the U.S. Investing Championship, Mark credits research, planning and an attention to detail for his astounding 536% return. http://tv.ino.com/
PRECIOUS METALS http://quotes.ino.com/exchanges/?c=metals
April gold was lower overnight as it extends this week's decline below the 20-day moving average
crossing at 925.80. Stochastics and the RSI remain bearish signaling that sideways to lower prices
are possible near-term. Closes below the reaction low crossing at 882.70 would confirm that a top
has been posted. Closes above Wednesday's high crossing at 932.50 would temper the near-term
bearish outlook in the market. First resistance is the 20-day moving average crossing at 923.50.
Second resistance is Wednesday's high crossing at 932.50. First support is Thursday's low
crossing at 894.90. Second support is March's low crossing at 882.70.
May silver was lower overnight as it extends this week's decline. Stochastics and the RSI remain
bearish signaling that sideways to lower prices are possible near-term. If May extends this week's
decline, fib support crossing at 12.358 is the next downside target. From a broad perspective, May
silver needs to close above 13.885 or below 11.890 to confirm a breakout of March's trading range
and point the direction of the next trending move. First resistance is the 20-day moving average
crossing at 13.083. Second resistance is the 10-day moving average crossing at 13.238. First
support is Thursday's low crossing at 12.560. Second support is the 38% retracement level of the
October-February rally crossing at 12.358.
May copper was higher overnight as it extends this week's rally. Stochastics and the RSI are
turning bullish signaling that sideways to higher prices are possible near-term. If May renews the
rally off December's low, the 25% retracement level of the 2008 decline crossing at 192.28 is the
next upside target. Closes below the 20-day moving average crossing at 177.09 are needed to
confirm that a short-term top has been posted. First resistance is the overnight high crossing at
190.80. Second resistance is the 25% retracement level crossing at 192.28. First support is the 10-
day moving average crossing at 183.88. Second support is Monday's low crossing at 175.25.
FOOD & FIBER http://quotes.ino.com/exchanges/?c=food
SOFTS: May sugar closed up 33 points at 13.06 cents
today. Prices closed nearer the session high today on short
covering and fresh speculative buying. The key "outside
markets" were very bullish for sugar today, as the U.S.
dollar was solidly lower and crude oil and equities prices
were sharply higher. Sugar bears still have the slight
near-term technical advantage.
May coffee closed up 260 points at 117.10 cents today.
Prices closed nearer the session high today on short
covering and fresh speculative buying. The key "outside
markets" were very bullish for coffee today, as the U.S.
dollar was solidly lower and crude oil and equities prices
were sharply higher. Coffee bears still have the slight
near-term technical advantage.
May cocoa closed up $84 at $2,702 today. Prices closed
nearer the session high today and hit a fresh nine-week
high. The key "outside markets" were very bullish for cocoa
today, as the U.S. dollar was solidly lower and crude oil
and equities prices were sharply higher.
May cotton closed down 2 points at 46.13 cents today.
Prices closed nearer the session low again today, but did
hit another fresh six-week high. The key "outside markets"
were very bullish for cotton today, as the U.S. dollar was
solidly lower and crude oil and equities prices were
sharply higher. Bulls have gained fresh upside near-term
technical momentum this week, but need to show fresh power
soon to keep it.
May orange juice closed up 75 points at $.7525. Prices
closed nearer the session high today on short covering. The
FCOJ bears still have the overall near-term technical
advantage. The next downside technical objective for the
FCOJ bears is to produce a close below solid technical
support at last week's low of $.7130.
May lumber futures closed up $4.20 at $179.50 today. Prices
closed near mid-range and did hit another fresh seven-week
high today. Bulls are gaining fresh upside near-term
technical momentum. The next upside technical objective for
the lumber bulls is pushing and closing prices above solid
technical resistance at the February high of $187.50.
GRAINS http://quotes.ino.com/exchanges/?c=grains
May corn was fractionally lower overnight as it consolidates some of Thursday's rally. The high-
range close overnight sets the stage for a steady to higher opening when the day session begins later
this morning. Stochastics and the RSI are diverging but remain neutral to bullish signaling that
sideways to higher prices are possible near-term. If May extends the rally off March's low, the
reaction high crossing at 4.13 is the next upside target. Closes below Monday's low crossing at
3.76 3/4 would confirm that a short-term top has been posted. First resistance is Thursday's high
crossing at 4.07 1/2. Second resistance is the reaction high crossing at 4.13. First support is the
10-day moving average crossing at 3.94 1/4. Second support Second support is the 20-day moving
average crossing at 3.89 1/4.
May wheat was higher overnight as it extends this week's rally. The high-range close sets the stage
for a steady to higher opening when the day session begins trading later this morning. Stochastics
and the RSI are bullish signaling that sideways to higher prices are possible. If May extends this
week's rally, March's high crossing at 5.63 is the next upside target. Closes below the 10-day
moving average crossing at 5.28 3/4 would temper the near-term friendly outlook in the market.
First resistance is the overnight high crossing at 5.57. Second resistance is March's high crossing
at 5.63. First support is the 10-day moving average crossing at 5.28 3/4. Second support is
Monday's low crossing at 5.01.
May Kansas City Wheat closed up 25 1/2-cents at 5.91 1/2.
May Kansas City Wheat gapped up and closed above the 20-day moving average crossing at 5.78
3/4 on Thursday confirming that a double bottom with March's low has been posted. The high-
range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are
bullish signaling that sideways to higher prices are possible near-term. If May extends Thursday's
rally, March's high crossing at 6.12 is the next upside target. Closes below Thursday's gap
crossing at 5.70 1/2 would confirm that a short-term top has been posted. First resistance is the
overnight high crossing at 5.93. Second resistance is March's high crossing at 6.12. First support
is Thursday's gap crossing at 5.70 1/2. Second support is Tuesday's low crossing at 5.46 1/2.
May Minneapolis wheat was lower due to profit taking overnight as it consolidates some of
Thursday's rally. Stochastics and the RSI are bullish signaling that sideways to higher prices are
possible near-term. If May extends this week's rally, the 62% retracement level of this year's
decline crossing at 6.66 1/2 is the next upside target. Closes below the 20-day moving average
crossing at 6.26 3/4 would confirm that a short-term top has been posted. First resistance is the
overnight high crossing at 6.61. Second resistance is the 62% retracement level crossing at 6.66
1/2. First support is the 10-day moving average crossing at 6.30 1/2. Second support is the 20-day
moving average crossing at 6.26 3/4.
SOYBEAN COMPLEX
May soybeans were higher overnight as it extends this week's rally. The high-range overnight close
sets the stage for a steady to higher opening when the day session begins later this morning.
Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term.
If May extends the rally off March's low, the 75% retracement level of the January-February
decline crossing at 10.11 1/4 is the next upside target. Closes below Monday's low crossing at
8.97 would confirm that a short-term top has been posted. First resistance is Thursday's high
crossing at 9.87 1/2. Second resistance is the 75% retracement level crossing at 10.11 1/4. First
support is the 10-day moving average crossing at 9.50 1/4. Second support is the 20-day moving
average crossing at 9.24 3/4.
May soybean meal was higher overnight as it extends this week's rally. The high-range close
overnight set the stage for a steady to higher opening when the day session begins trading later this
morning. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible
near-term. If May extends this week's rally, March's high crossing at 308.80 is the next upside
target. Multiple closes below Monday's low crossing at 277.70 would confirm that a short-term
low has been posted. First resistance is Thursday's high crossing at 303.70. Second resistance is
March's high crossing at 308.80. First support is the 10-day moving average crossing at 294.00.
Second support is the 20-day moving average crossing at 287.90.
May soybean oil was slightly higher overnight as it extends Thursday's rally. Spillover strength
from the energy complex helped to underpin the overnight rally. The high-range close sets the stage
for a steady to higher opening when the day session begins later this morning. Stochastics and the
RSI are overbought but remain bullish signaling that sideways to higher prices are possible near-
term. If May extends the rally off March's low, the 75% retracement level of this year's decline
crossing at 35.77 is the next upside target. Closes below Monday's low crossing at 31.76 would
confirm that a short-term top has been posted. First resistance is the overnight high crossing at
35.26. Second resistance is the 75% retracement level crossing at 35.77. First support is the 10-
day moving average crossing at 33.51. Second support is the 20-day moving average crossing at
32.23.
LIVESTOCK http://quotes.ino.com/exchanges/?c=livestock
LIVESTOCK: June live cattle closed up $1.62 at $83.00
today. Prices gapped higher on the daily bar chart, hit a
fresh five-week high and then did back off the high to
close near mid-range. The key "outside markets" were very
bullish for cattle today, as the U.S. dollar was solidly
lower and crude oil and equities prices were sharply
higher. The cattle bears still have the solid near-term
technical advantage.
May feeder cattle closed up $1.70 at $95.65 today. Prices
closed nearer the session high today on short covering.
Bears still have the overall near-term technical advantage.
The next upside price objective for the feeder bulls is to
push prices above solid technical resistance at $98.00.
June lean hogs closed up $0.65 at $72.10 today. Prices
closed nearer the session high today. The key "outside
markets" were very bullish for hogs today, as the U.S.
dollar was solidly lower and crude oil and equities prices
were sharply higher. Yet, hogs could only manage tepid
gains, and that shows the bearish nature of the hog market
fundamentals at present.
May pork bellies closed up $0.80 at $87.80 today. Prices
closed near the session high. Bulls have gained some upside
near-term technical momentum. The next upside price
objective for the bulls is pushing and closing prices above
solid technical resistance at $90.00.
____________________________________________________________________________
E X T R E M E F U T U R E S
____________________________________________________________________________
Updated every 10 minutes around the clock.
More at http://quotes.ino.com/analysis/extremes/futures/
WINNERS
KW.K10 HARD RED WINTER WHEAT May 2010 660.5 44.5 +7.22
HG.N09 COPPER Jul 2009 2.0095 0.1120 +5.89
BCX.K09 CBOT SOYBEAN CRUSH INDEX May 2009 66.25 2.75 +4.33
LB.K09 LUMBER (RANDOM LENGTH) May 2009 187.4 6.7 +3.71
LK.M09 CANADIAN $ (A.O.N) Jun 2009 0.8123 0.0269 +3.43
NGX.U09 5 YEAR INT RATE SWAP (IMPLIED YLD) Sep 2009 2.38321 0.07888 +3.42
SM.K09 SOYBEAN MEAL May 2009 306.0 8.6 +2.89
LH.K09 LEAN HOGS May 2009 73.900 2.025 +2.82
NIX.M09 10 YEAR INT RATE SWAP (IMPLIED YLD) Jun 2009 2.99555 0.07738 +2.65
W.K09 WHEAT May 2009 563.5 13.0 +2.36
LOSERS
BCX.G10 CBOT SOYBEAN CRUSH INDEX Feb 2010 57.00 -4.25 -7.56
SI.K09 SILVER May 2009 12.735 -0.290 -2.23
RB.Y$$ CHEESE-BARRELS (SPOT) Cash 1250 -25 -1.98
US.M09 T-BOND Jun 2009 126.984375 -2.171875 -1.68
GC.M09 GOLD Jun 2009 897.3 -11.6 -1.28
LB.K10 LUMBER (RANDOM LENGTH) May 2010 210.0 -2.5 -1.18
TY.M09 10 YEAR T-NOTE Jun 2009 121.968750 -1.406250 -1.14
NK.M09 NIKKEI 225 INDEX Jun 2009 8940 -90 -1.00
JY.Y$$ JAPANESE YEN Cash 0.009977 -0.000088 -0.87
FV.M09 5 YEAR T-NOTE Jun 2009 117.523438 -0.804688 -0.68
Complimentary Options Trade Recommendations And Crash Course
Includes:
-10 monthly options trade recommendations
-Complete access to Online Crash Course in Options Trading
-6 Complimentary Options Trading Booklets
http://www.ino.com/specials/153C41/schaeffers/optionsadvisor2008.html
____________________________________________________________________________
E X T R E M E S T O C K S
____________________________________________________________________________
Updated every 10 minutes around the clock.
More at http://quotes.ino.com/analysis/extremes/stocks/
WINNERS
DNDN DENDREON CORP 5.9699 1.6299 +37.56
FCVA FIRST CAPITAL BANCORP 8.0 1.9 +31.15
KIM KIMCO REALTY CORP 9.40 1.91 +25.50
WAMPQ WASHINGTON MUTUAL PR 6.89 1.39 +25.27
KIM.PR.F KIMCO REALTY 6.65 PR F 14.00 2.60 +22.81
MAC MACERICH CO (THE) 9.840 1.800 +22.39
CBST CUBIST PHARMACEUTICALS 19.43 3.50 +21.97
RIMM RESEARCH IN MOTION LTD 59.358 10.268 +20.92
PFG PRINCIPAL FINANCIAL GROUP 10.53 1.75 +19.93
AGO ASSURED GUARANTY LTD 9.63 1.60 +19.93
LOSERS
PFACP PRO-FACTORY COOPERATIVE INC PR A 17.28 -4.54 -20.81
ALKS ALKERMES INC 9.49 -1.92 -16.83
SBBC SECURITY BUSINESS BANCORP 7.95 -1.55 -16.32
HGU HORIZONS BETAPRO GLOBAL GOLD BULL 11.62 -1.85 -13.73
RCRC RC 2 CORP 6.140 -0.960 -13.52
CSS CSS INDUSTRIES INC 17.10 -2.42 -12.40
ABVTZ ABOVENET WTS 9/8/10 22 -3 -12.00
CLW CLEARWATER PAPER CORP 8.08 -1.06 -11.60
ZEP ZEP INC 10.98 -1.39 -11.24
LIHR LIHIR GOLD LTD ADS 21.15 -2.52 -10.65
No comments:
Post a Comment