Monday, April 28, 2014

Fwd: Monday Market Close, Gold -8.500 DOW +87.28 S&P +6.03 NAS -1.85 USD -0.098 Euro +0.002700 DowFut +77



---------- Forwarded message ----------
From: INO.com Evening <evening@ino.com>
Date: Mon, Apr 28, 2014 at 2:35 PM
Subject: Monday Market Close, Gold -8.500 DOW +87.28 S&P +6.03 NAS -1.85 USD -0.098 Euro +0.002700 DowFut +77
To: Jeremy Matthews <iammejtm@gmail.com>


INO.com
Evening Markets Report
Prepared for Jeremy on Monday, April 28, 2014

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Summary
The Dow Future is up 77 points to 16401. The US Dollar Index moved down 0.098 points to 79.700. Gold is lower 8.500 dollars to 1296.845. Silver is declining 0.1345 dollars to 19.5910. The Dow Industrials moved up 87.28 points, at 16448.74, while the S&P 500 advanced 6.03 points, last seen at 1869.43. The Nasdaq Composite moved down 1.85 points to 4073.71. Streaming charts of these markets are available 24/7 at MarketClub

Blog Postings and Videos
Beware of Equity Markets Going Nowhere Fast
Monday Apr 28th

Chart of The Week - Corn
Monday Apr 28th

Are You Prepared For The 'Follow-Up' Crash?
Monday Apr 28th

 
Currencies Snapshot
Symbol Last Change %
U.S $ INDEX 79.700 -0.098 -0.13%
POWERSHARES DB US DOLLAR INDEX 21.3200 -0.0200 -0.09%
US Dollar/Canadian Dollar 1.102455 -0.000935 -0.08%
Euro/US Dollar 1.385220 +0.002700 +0.20%
JAPANESE YEN Jun 2014 0.009761 -0.000034 -0.35%
SWISS FRANC Jun 2014 1.1365 +0.0009 +0.08%

CURRENCIES

The June Dollar closed lower on Monday. The mid-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bullish hinting that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 79.98 are needed to confirm that a double bottom with March's low has been posted. If June renews this month's decline, weekly support crossing at 78.91 is the next downside target. First resistance is the 20-day moving average crossing at 79.98. Second resistance is April's high crossing at 80.77. First support is April's low crossing at 79.38. Second support is weekly support crossing at 78.91.

The June Euro closed slightly higher on Monday as it extends the trading range of the past three weeks. The mid-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If June renews the rally off April's low, March's high crossing at 139.66 is the next upside target. Multiple closes below the 20-day moving average crossing at 138.03 would confirm that a short-term top has been posted. First resistance is the reaction high crossing at 139.03. Second resistance is March's high crossing at 139.66. First support is the 20-day moving average crossing at 138.03. Second support is April's low crossing at 136.69.

The June British Pound closed slightly higher on Tuesday. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are diverging but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off March's low, weekly resistance crossing at 1.7043 is the next upside target. Multiple closes below the 20-day moving average crossing at 1.6724 would confirm that a short-term top has been posted. First resistance is today's high crossing at 1.6853. Second resistance is weekly resistance crossing at 1.7043. First support is the 20-day moving average crossing at 1.6724. Second support is the reaction low crossing at 1.6640.

The June Swiss Franc closed slightly higher on Monday. The mid-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral signaling that sideways trading is possible near-term. If June renews the rally off April's low, March's high crossing at .11503 is the next upside target. If June renews the decline off April's high, April's low crossing at 1.1175 is the next downside target. First resistance is April's high crossing at .11443. Second resistance is March's high crossing at .11503. First support is last Tuesday's low crossing at .11289. Second support is the 62% retracement level of the January-March-rally crossing at .11160.

The June Canadian Dollar closed slightly higher on Monday as it consolidates below the 20-day moving average crossing at 90.82. The mid-range close sets the stage for a steady opening when Tuesday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends the decline off April's high, the reaction low crossing at 89.45 is the next downside target. Closes above the 20-day moving average crossing at 90.82 would confirm that a short-term low has been posted. First resistance is the reaction high crossing at 91.95. Second resistance is the 38% retracement level of the 2013-2014-decline crossing at 92.96. First support is last Tuesday's low crossing at 90.43. Second support is April's low crossing at 88.45.

The June Japanese Yen closed lower on Monday. Today's low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If June renews this month's rally, February's high crossing at .9930 is the next upside target. If June renews the decline off April's high, April's low crossing at .9598 is the next downside target. First resistance is March's high crossing at .9886. Second resistance is February's high crossing at .9930. First support is last Tuesday's low crossing at .9737. Second support is April's low crossing at .9598.



 
Energy Snapshot
Symbol Last Change %
CRUDE OIL Jun 2014 100.89 +0.29 +0.29%
NY HARBOR ULSD HEATING OIL Jun 2014 2.9453 -0.0356 -1.19%
NATURAL GAS Jun 2014 4.766 +0.108 +2.32%
RBOB GASOLINE Jun 2014 2.9890 -0.0376 -1.24%
POWERSHARES DWA ENERGY MOMENT 59.6857 +0.0757 +0.13%
UNITED STATES GASOLINE 61.1600 -0.4700 -0.76%

ENERGIES

June crude oil closed slightly higher due to short covering on Monday but remains below the 20-day moving average crossing at 101.55. Today's mid-range close sets the stage for a steady to lower opening when Tuesday's night session begins. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends last week's decline, the 38% retracement level of the January-April-rally crossing at 99.10 is the next downside target. Closes above the 10-day moving average crossing at 102.30 would confirn that a short-term low has been posted. First resistance is the 10-day moving average crossing at 102.30. Second resistance is April's high crossing at 104.99. Third resistance is weekly resistance crossing at 105.24. First support is today's low crossing at 100.33. Second support is the 38% retracement level of the January-April-rally crossing at 99.10.

June heating oil closed lower on Monday and below the 20-day moving average crossing at 294.80 confirm that a short-term top has been posted. The low-range close sets the stage for a steady to lower opening when Tuesday's night trading begins. Stochastics and the RSI are overbought and are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If June renews the rally off April's low, the 87% retracement level of the March-April-decline crossing at 302.19 is the next upside target. First resistance is last Thursday's high crossing at 301.58. Second resistance is the 87% retracement level of the March-April-decline crossing at 302.19. First support is today's low crossing at 293.50. Second support is April's low crossing at 284.34.

June unleaded gas closed sharply lower on Monday as it consolidated some of the rally off April's low. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are turning bearish hinting that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 297.11 are needed to confirm that a short-term top has been posted. If June extends this month's rally, weekly resistance crossing at 316.32 is the next upside target. First resistance is last Thursday's high crossing at 306.10. Second resistance is weekly resistance crossing at 316.32. First support is the 20-day moving average crossing at 297.11. Second support is April's low crossing at 281.01.

June Henry natural gas closed higher on Monday. Today's high-range close sets the stage for a steady to higher opening when Tuesday's session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off this month's low, February's high crossing at 4.893 is the next upside target. Closes below the 20-day moving average crossing at 4.594 would confirm that a short-term top has been posted. First resistance is last Thursday's high crossing at 4.818. Second resistance is February's high crossing at 4.893. First support is the 20-day moving average crossing at 4.594. Second support is the reaction low crossing at 4.500.



 
Food Snapshot
Symbol Last Change %
COCOA Jul 2014 2951 -2 -0.07%
COFFEE Jul 2014 201.15 -5.85 -2.86%
ORANGE JUICE-A Jul 2014 163.5 -1.5 -0.91%
IPATH DJ-UBS SUGAR TRUST 55.8810 -0.8710 -1.53%
IPATH DJ-UBS SOFTS TRUST 55.82 -0.02 -0.04%

FOOD & FIBER

May coffee closed lower due to profit taking on Monday. The low-range close set the stage for a steady to lower opening on Tuesday. Stochastics and the RSI have turned bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 19.51 would confirm that a short-term top has been posted. If May extends this month's rally, the 75% retracement level of the 2011-2013-decline crossing at 23.20 is the next upside target.

May cocoa closed lower on Monday. The low-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near-term. If May extends the decline off March's high, the reaction low crossing at 28.86 is the next downside target. Closes above the 10-day moving average crossing at 297.10 would confirm that a low has been posted.

May sugar closed lower on Monday. The low-range close set the stage for a steady to lower opening on Tuesday. Stochastics and the RSI have turned bearish signaling that sideways to lower prices are possible near-term. Closes below the 10-day moving average crossing at 16.92 would temper the near-term friendly outlook. If May renews the rally off April's low, the reaction high crossing at 18.10 is the next upside target.

May cotton closed lower on Monday. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If May extends last week's rally, the reaction high crossing at 94.80 is the next upside target. Closes below the 20-day moving average crossing at 91.25 would temper the near-term friendly outlook.



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Grains Snapshot
Symbol Last Change %
CORN Jul 2014 513.75 +1.00 +0.20%
OATS Jul 2014 362.5 +4.5 +1.26%
WHEAT Jul 2014 708.50 +0.25 +0.04%
TEUCRIUM CORN 34.9500 +0.1100 +0.32%
IPATH DJ-UBS GRAINS TRUST 51.55 +0.15 +0.29%
ELEMENTS MLCX GRAINS INDEX TRUST 6.77 +0.05 +0.74%
SOYBEANS Jul 2014 1500.00 +5.75 +0.38%
SOYBEAN (MINI) Nov 2014 1239.250 -0.500 -0.04%
SOYBEAN MEAL Jul 2014 484.8 +3.4 +0.71%
TEUCRIUM SOYBEAN 26.08 +0.31 +1.20%

GRAINS

May Corn closed up 3/4-cents at 5.07 3/4.

May corn closed fractionally higher on Monday as it extends last week's rally. Today's small gain was due to expectations that this afternoon's planting progress report will show significant gains in corn planting this past week. This afternoon's report showed that 19% of the corn has been planted compared to 5% a year ago and 28% for the five-year average. However, this week's wet weather along with the forecast for the rest of the will likely keep next week's gains fairly limited. Today's mid-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to lower prices are possible near-term. If May extends the rebound off last Monday's low, April's high crossing at 5.19 is the next upside target. If May renews the decline off April's high, the 38% retracement level of the January-April-rally crossing at 4.79 is the next downside target. First resistance is today's high crossing at 5.12 1/2. Second resistance is April's high crossing at 5.19. First support is last Monday's low crossing at 4.85 1/2. Second support is the 38% retracement level of the January-April-rally crossing at 4.79.

May wheat closed unchanged at 7.00 1/4.

May wheat closed unchanged on Monday as it consolidated some of the rally off last Tuesday's low. Beneficial rain in the wheat areas of Australia, China, and Europe kept a lid on U.S. wheat futures, despite more dry weather for the U.S. Plains wheat. For the belt as a whole, there was 25% coverage, with amounts of .25 to 1.25 inches, and most of this was north and east of the driest areas in central/southwest Kansas, western Oklahoma, west Texas, and southeast Colorado. The mid-range close sets the stage for a steady opening when Tuesday's night session begins trading. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. If May extends the rally off April's low, March's high crossing at 7.23 1/2 is the next upside target. If May renews the decline off March's high, the 50% retracement level of this year's rally crossing at 6.38 1/2 is the next downside target. First resistance is the reaction high crossing at 7.11. Second resistance is March's high crossing at 7.23 1/2. First support is the 38% retracement level of this year's rally crossing at 6.58 3/4. Second support is the 50% retracement level of this year's rally crossing at 6.38 1/2.

May Kansas City Wheat closed up 7 1/2-cents at 7.83 1/4.

May Kansas City wheat closed higher on Monday. Today's high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If May extends this month's rally, March's high crossing at 7.94 1/2 is the next upside target. Closes below the 20-day moving average crossing at 7.47 1/2 would confirm that a short-term top has been posted. First resistance is today's high crossing at 7.83 1/4. Second resistance is March's high crossing at 7.94 1/2. First support is the 20-day moving average crossing at 7.47 1/2. Second support is the reaction low crossing at 7.19.

May Minneapolis wheat closed up 2 3/4-cents at 7.50 1/4.

May Minneapolis wheat close higher on Monday. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are becoming overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If May extends the rally off April's low, March's high crossing at 7.70. Closes below the 20-day moving average crossing at 7.26 would confirm that a short-term top has been posted. First resistance is today's high crossing at 7.55. Second resistance is March's high crossing at 7.70. First support is the 20-day moving average crossing at 7.26. Second support is the 50% retracement level of this year's rally crossing at 6.82 1/2. Third support is the 62% retracement level of this year's rally crossing at 6.61 3/4.

SOYBEAN COMPLEX? http://quotes.ino.com/ex?changes/?c=grains "

May soybeans closed up 10 1/4-cents at 15.08 1/4.

May soybeans closed higher on Monday. A lack of fresh cancellations from China, some bullish export news, and past news of a strong domestic crush supported soybeans. The USDA on reported soybean export inspections at 9.34 million bushels, up 65% from the previous week, with Indonesia the leading destination. Year-to-date inspections are up 22% from a year earlier. Today's planting progress report showed that 3% of the nations soybean crop has been planted compared to 0% last year and the five year average of 4% planted. The mid-range close sets the stage for a steady opening when Tuesday's night session begins trading. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. If May extends today's rally, this month's high crossing at 15.31 3/4 is the next upside target. If May renews the decline off April's high, the 38% retracement level of this year's rally crossing at 14.23 is the next downside target. First resistance is April's high crossing at 15.31 3/4. Second resistance is weekly resistance crossing at 15.61. First support is the 25% retracement level of this year's rally crossing at 14.60 3/4. Second support is the 38% retracement level of this year's rally crossing at 14.23.

May soybean meal closed up $6.30 at 496.90.

May soybean meal closed higher on Monday as it posted a new contract high. The mid-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If May extends this winter's rally, weekly resistance crossing at 505.90 is the next upside target. Multiple closes below the 20-day moving average cossing at 482.10 would confirm that a short-term top has been posted. First resistance is today's high crossing at 501.20. Second resistance is weekly resistance crossing at 505.90. First support is the 20-day moving average cossing at 482.10. Second support is the reaction low crossing at 472.00.

May soybean oil closed down 30-pts. At 42.62.

May soybean oil posted a downside reversal on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 42.28 would confirm that a short-term top has been posted. If May renews the rally off March's low, March's high crossing at 45.05 is the next upside target. First resistance is the reaction high crossing at 43.74. Second resistance is March's high crossing at 45.05. First support is the 20-day moving average crossing at 42.28. Second support is the reaction low crossing at 41.11.



 
Indexes Snapshot
Symbol Last Change %
DJ 30 INDUSTRIALS 16448.74 +87.28 +0.53%
NASDAQ COMPOSITE INDEX (COMBINED) 4073.71 -1.85 -0.05%
S&P 500 CASH 1869.43 +6.03 +0.32%
SPDR S&P 500 186.92 +0.63 +0.34%
QQQQ VOLATILITY INDEX 12.02 -1.23 -9.28%
iShares RUSSELL 2000 INDEX 110.87 -0.74 -0.66%

U.S. STOCK INDEXES

The June NASDAQ 100 closed higher due to a late-session rally on Monday. Today's high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the decline off last Thursday's high, April's low crossing at 3404.75 is the next downside target. Closes below the 10-day moving average crossing at 3530.30 are needed to confirm that a short-term top has been posted. If June renews the rally off April's low, April's high crossing at 3669.00 is the next upside target. First resistance is last Thursday's high crossing at 3618.25. Second resistance is April's high crossing at 3669.00. First support is today's low crossing at 3480.50. Second support is April's low crossing at 3404.75. Third support is the 38% retracement level of the 2013-2014-rally crossing at 3345.52.

The June S&P 500 closed higher on Monday. Today's high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off April's low, April's high crossing at 1892.00 is the next upside target. Closes below the 10-day moving average crossing at 1857.90 would confirm that a short-term top has been posted. First resistance is last Thursday's high crossing at 1882.30. Second resistance is April's high crossing at 1892.00. First support is the 10-day moving average crossing at 1857.90. Second support is April's low crossing at 1803.60.

The Dow closed higher on Monday. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If the Dow extends last Friday's decline, April's low crossing at 16,015.32 is the next downside target. If The Dow renews the rally off this month's low, April's high crossing at 16,631.63 is the next upside target. First resistance last Tuesday's high crossing at 16,565.71. Second resistance is April's high crossing at 16,631.63. First support is today's low crossing at 16,312.66. Second support is the 50% retracement level of the February-April-rally crossing at 15,987.04.



 
Interest Snapshot
Symbol Last Change %
T-BONDS Jun 2014 134.21875 -0.71875 -0.53%
iShares FLOATING RATE NOTE 50.732 -0.018 -0.04%
5 YEAR T-NOTES Jun 2014 119.109375 -0.070313 -0.06%
ULTRA T-BONDS Jun 2014 146.28125 -1.37500 -0.93%
POWERSHARES SENIOR LOAN PORTF 24.69 +0.04 +0.16%

INTEREST RATES

June T-bonds closed down 21/32's at 134-09.

June T-bonds closed lower on Monday consolidating some of last week's rally. The low-range close sets the stage for a steady to lower opening when Tuesday's night trading begins. Stochastics and the RSI are diverging and are turning neutral to bearish hinting that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 133-28 would confirm that a short-term top has been posted. If June renews the rally off April's low, weekly resistance crossing at 135-24 is the next upside target. First resistance is April's high crossing at 135-10. Second resistance is weekly resistance crossing at 135-24. First support is the 20-day moving average crossing at 133-28. Second support is April's low crossing at 131-21.



 
Livestock Snapshot
Symbol Last Change %
FEEDER CATTLE Aug 2014 186.550 +1.925 +1.04%
LEAN HOGS Jun 2014 124.350 -0.175 -0.14%
LIVE CATTLE Jun 2014 136.850 +0.075 +0.05%
IPATH DJ-UBS LIVESTOCK TRUST SUB 31.4504 -0.0696 -0.22%

LIVESTOCK

June hogs closed down $0.30 at $124.22.

June hogs closed lower on Monday as it consolidated some of its recent gains. The mid-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 123.40 would confirm that a short-term top has been posted. If June extends the rally off April's low, the reaction high crossing at 130.60 is the next upside target. First resistance is the reaction high crossing at 130.60. Second resistance is March's high crossing at 133.40. First support is the reaction low crossing at 118.55. Second support is the 38% retracement level of the 2012-2014-rally crossing at 115.98.

June cattle closed up $0.05 at 135.82.

June cattle closed higher on Monday as it extends the rally off this month's low. The mid-range close sets the stage for a steady to higher opening when Tuesday's session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the aforementioned rally, March's high crossing at 139.00 is the next upside target. First resistance is today's high crossing at 137.55. Second resistance is March's high crossing at 139.00. First support is the 38% retracement level of the November-March-rally crossing at 134.24. Second support is the 50% retracement level of the November-March-rally crossing at 132.75.

May feeder cattle closed up $1.10 at $181.10.

May Feeder cattle closed higher on Monday and posted a new contract high. Today's high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are diverging but are bullish signaling that sideways to higher prices are possible near-term. If May extends this year's rally into uncharted territory, upside targets will be hard to project. Closes below last Monday's low crossing at 177.50 would confirm that a short-term top has been posted. First resistance is today's high crossing at 181.50. Second resistance is unknown. First support is last Monday's low crossing at 177.50. Second support is the reaction low crossing at 176.62.



 
Metals Snapshot
Symbol Last Change %
GOLD Jun 2014 1296.0 -4.8 -0.37%
SPDR GOLD SHARES 124.89 -0.54 -0.43%
SILVER Jul 2014 19.605 -0.113 -0.57%
PALLADIUM Jun 2014 802.1 -9.1 -1.12%
DIREXION DAILY GOLD MINERS BEA 23.8900 +1.2500 +5.52%
POWERSHARES DB PRECIOUS METALS 41.6640 -0.1300 -0.31%

PRECIOUS METALS

June gold closed lower on Monday. The mid-range close sets the stage for a steady opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off last week's low, April's high crossing at 1330.00 is the next upside target. If June resumes the decline off March's high, the 62% retracement level of the January-March-rally crossing at 1265.10 is the next downside target. First resistance is today's high crossing at 1306.60. Second resistance is April's high crossing at 1330.00. First support is last Thursday's low crossing at 1268.40. Second support is the 62% retracement level of the January-March-rally crossing at 1265.10.

May silver closed lower on Monday. The mid-range close set the stage for a steady opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 19.743 are needed to confirm that a short-term low has been posted. If May renews the decline off February's high, January's low crossing at 18.800 is the next downside target. First resistance is the 20-day moving average crossing at 19.743. Second resistance is the reaction high crossing at 20.400. First support is the 87% retracement level of the January-February-rally crossing at 19.233. Second support is January's low crossing at 18.800.

May copper posted a key reversal down due to profit taking on Monday as it consolidated some of the rally off March's low. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If May extends the rally off March's low, the 50% retracement level of the December-March-decline crossing at 314.55 is the next upside target. Closes below the 20-day moving average crossing at 304.91 would confirm that a short-term top has been posted. First resistance is is the 50% retracement level of the December-March-decline crossing at 314.55. Second resistance is the 62% retracement level of the December-March-decline crossing at 320.90. First support is the 20-day moving average crossing at 304.91. Second support is the reaction low crossing at 296.55.



 
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8. ZW.U14.E WHEAT Sep 2014 716.75 +0.25 +0.03% 3,547 +100    Entry Signal
9. GE.K14.E EURODOLLAR May 2014 99.7750 +0.0025 0.00% 2,565 +100    Entry Signal
10. C.H15 CORN Mar 2015 515.00 +0.75 +0.15% 2,197 +100    Entry Signal

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U.S. Government Required Disclaimer - Commodity Futures Trading Commission

Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.

CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.

All trades, patterns, charts, systems, etc., discussed in this advertisement and the product materials are for illustrative purposes only and not to be construed as specific advisory recommendations. All ideas and material presented are entirely those of the author and do not necessarily reflect those of the publisher or INO.com.

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Jeremy Tobias Matthews

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