Thursday, May 1, 2014

Fwd: Key Market Reports and Commentary for Thursday



---------- Forwarded message ----------
From: INO.com Morning <morning@ino.com>
Date: Thu, May 1, 2014 at 5:20 AM
Subject: Key Market Reports and Commentary for Thursday
To: Jeremy Matthews <iammejtm@gmail.com>


INO.com
Morning Markets Report
Prepared for Jeremy on Thursday, May 1, 2014

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Summary
The Dow Future has advanced 1 points to 16512. The US Dollar Index slipped 0.035 points to 79.476. Gold is falling 4.335 dollars to 1285.290. Silver is up 0.001 dollars to 19.136. The Dow Industrials edged higher by 45.47 points, at 16580.84, while the S&P 500 moved higher by 5.62 points, last seen at 1883.95. The Nasdaq Composite gained 10.88 points to 4114.42. Streaming charts of these markets are available 24/7 at MarketClub

Blog Postings and Videos
Building a Better Trader - Volume 1: Laying the Foundation
Wednesday Apr 30th

Pigs no Longer Fly; What Are the Implications?
Tuesday Apr 29th

One Sentiment Gauge in Europe Reaches Epic Proportion
Tuesday Apr 29th

Key Events for Thursday

7:30 AM ET. April Challenger Job-Cut Report

Job Cuts, M/M (previous -18%)

8:30 AM ET. Unemployment Insurance Weekly Claims Report - Initial Claims

Weekly Jobless Claims (previous 329K)

Weekly Jobless Claims Net Change (previous +24K)

Cont Jobless Claims (prior week) (previous 2680000)

Cont Jobless Claims Net Chg (prior week) (previous -61K)

8:30 AM ET. U.S. Weekly Export Sales

Corn, In Metric Tons (previous 1436.7K)

Soybeans, In Metric Tons (previous 546.8K)

Wheat, In Metric Tons (previous 728K)

8:30 AM ET. March Personal Income & Outlays

Personal Income (previous +0.3%)

Personal Spending (previous +0.3%)

PCE Price Index Monthly (previous +0.1%)

PCE Price Index Yearly (previous +0.9%)

PCE Core Price Index Monthly +0.1%)

PCE Core Price Index Yearly +1.1%

9:00 AM ET. April US Manufacturing PMI

9:45 AM ET. Bloomberg Consumer Comfort Index

10:00 March Construction Spending - Construction Put in Place

New Construction (previous +0.1%)

Residential Construction

10:00 AM ET. April ISM Manufacturing Report on Business

Manufacturing PMI (previous 53.7)

Prices Index (previous 59)

Employment Index (previous 51.1)

Inventories (previous 52.5)

New Orders Index (previous 55.1)

Production Index (previous 55.9)

10:00 AM ET. DJ-BTMU U.S. Business Barometer

DJ-BTMU Business Barometer (previous -0.1%)

DJ-BTMU Business Barometer (52 Wk) (previous +0.4%)

10:30 AM ET. EIA Weekly Natural Gas Storage Report

Total Working Gas in Storage (previous 899B)

Total Working Gas in Storage (Net Change) (previous +49B)

4:00 AM ET. April Domestic Auto Industry Sales

Annualized Vehicle Sales (previous 16.4M)

4:30 PM ET. Federal Discount Window Borrowings

4:30 PM ET. Foreign Central Bank Holdings

4:30 PM ET. Money Stock

8:30 AM ET. April U.S. Employment Report

Non-Farm Payrolls (previous +192K)

Unemployment Rate (previous 6.7%)

Average Hourly Earnings (previous 24.3)

Average Hourly Earnings Net Change (previous -0.01)

Manufacturing Payrolls (previous -1K)

Overall Workweek (previous 34.5)

Overall Workweek Net Change (previous +0.2)

Service Producing Payrolls (previous +167K)

Government Payrolls (previous +0)

Federal Payrolls (previous -9K)

Non-Farm Payrolls (Bench Net Chg)

Private Payroll (previous +192K)

9:45 AM ET. April ISM-NY Report on Business

US ISM-NY Business Index (previous 52)

10:00 AM ET. March Manufacturers' Shipments, Inventories & Orders (M3)

Total Orders (previous +1.6%)

Orders, Ex-Defense (previous +1.3%)

Orders, Ex-Transportation (previous +0.7%)

Durable Goods 1st Est (previous +2.2%)

Durable Goods Revised



 
Currencies Snapshot
Symbol Last Change %
US DOLLAR INDEX 79.476 -0.035 -0.05%
POWERSHARES DB US DOLLAR INDEX 21.28 -0.06 -0.28%
US Dollar/Canadian Dollar 1.09780 +0.00095 +0.09%
Euro/US Dollar 1.387800 +0.000735 +0.05%
JAPANESE YEN Jun 2014 0.009782 -0.000013 -0.13%
SWISS FRANC Jun 2014 1.1384 +0.0015 +0.13%

CURRENCIES

The June Dollar was slightly higher overnight. However, stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If June renews the decline off April's high, weekly support crossing at 78.91 is the next downside target. Closes above the 20-day moving average crossing at 79.89 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 79.89. Second resistance is the 38% retracement level of the January-March-decline crossing at 80.24. First support is March's low crossing at 79.37. Second support is weekly support crossing at 78.91.

The June Euro was slightly higher overnight while extending the trading range of the past three weeks. Stochastics and the RSI are 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. Closes below the 20-day moving average crossing at 138.15 are needed to 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 138.15. Second support is the 62% retracement level of the February-March-rally crossing at 136.67.

The June British Pound was slightly higher overnight as it extends this year's rally. Stochastics and the RSI are overbought but are neutral to bullish signaling that sideways to higher prices are possible. If June extends the rally off March's low, monthly resistance crossing at 1.7043 is the next upside target. Closes below the 20-day moving average crossing at 1.6759 would confirm that a short-term top has been posted. First resistance is the overnight high crossing at 1.6916. Second resistance is monthly resistance crossing at 1.7043. First support is the 20-day moving average crossing at 1.6759. Second support is the reaction low crossing at 1.6640.

The June Swiss Franc was higher overnight. Stochastics and the RSI are neutral to bullish signaling that additional strength is possible near-term. If June renews the rally off last week's low, April's high crossing at 1.1443 is the next upside target. If June renews the decline off April's high, the 50% retracement level of the January-March-rally crossing at 1.1226 is the next downside target. First resistance is April's high crossing at 1.1443. Second resistance is March's high crossing at 1.1503. First support is the 38% retracement level of the January-March-rally crossing at 1.1292. Second support is the 50% retracement level of the January-March-rally crossing at 1.1226.

The June Canadian Dollar was lower due to profit taking overnight but remains above the 20-day moving average. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If June renews Tuesday's rally, Apri's high crossing at 91.95 is the next upside target. Closes below the 10-day moving average crossing at 90.75 would temper the near-term friendly outlook. First resistance is April's 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 Wednesday's low crossing at 90.35. Second support is March's low crossing at 88.45.

The June Japanese Yen was slightly lower overnight. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends the decline off April's high, April's low crossing at .9598 is the next downside target. If June renews the rally off April's low, March's high crossing at .9889 is the next upside target. From a broad perspective, June needs to close above .9930 or below .9598 to confirm a breakout of a three-month old trading range. First resistance is March's high crossing at .9889. Second resistance is February's high crossing at .9930. First support is Tuesday's low crossing at .9732. Second support is April's low crossing at .9598.



 
Energy Snapshot
Symbol Last Change %
CRUDE OIL Jun 2014 98.94 -0.80 -0.80%
NY HARBOR ULSD HEATING OIL Jun 2014 2.9050 -0.0231 -0.79%
NATURAL GAS Jun 2014 4.775 -0.040 -0.83%
RBOB GASOLINE Jun 2014 2.9405 -0.0239 -0.81%
POWERSHARES DWA ENERGY MOMENT 59.7800 -0.2600 -0.43%
UNITED STATES GASOLINE 60.3690 -0.9420 -1.56%

ENERGIES

June Nymex crude oil was lower overnight as it extends the decline off April's high. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends the decline off April's high, the 38% retracement level of the January-April-rally crossing at 99.10 is the next downside target. Closes above the 20-day moving average crossing at 101.62 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 101.62. Second resistance is April's high crossing at 104.10. First support is the 38% retracement level of the January-April-rally crossing at 99.10. Second support is the 50% retracement level of the January-April-rally crossing at 97.54.

June heating oil was lower overnight as it extends this week's decline. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends this week's decline, the reaction low crossing at 286.80 is the next downside target. Closes above the 10-day moving average crossing at 297.10 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 297.10. Second resistance is the 87% retracement level of the March-April-decline crossing at 302.19. Third resistance is March's high crossing at 304.80. First support is the overnight low crossing at 290.52. Second support is the reaction low crossing at 286.80.

June unleaded gas was lower overnight as it extended this week's decline. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near-term. If June extends this week's decline, the 50% retracement level of the January-April-rally crossing at 291.20 is the next downside target. Closes above the 10-day moving average crossing at 301.24 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 301.24. Second resistance is last Thursday's high crossing at 306.10. First support is the 38% retracement level of the January-April-rally crossing at 294.74. Second support is the 50% retracement level of the January-April-rally crossing at 291.20.

June Henry natural gas was lower overnight. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends this month's rally, February's high crossing at 4.893 is the next upside target. Closes below the 20-day moving average crossing at 4.661 would confirm that a short-term top has been posted. First resistance is Wednesday's high crossing at 4.852. Second resistance is February's high crossing at 4.893. First support is the 20-day moving average crossing at 4.661. Second support is the reaction low crossing at 4.500.



 
Food Snapshot
Symbol Last Change %
COCOA Jul 2014 2955 -25 -0.84%
COFFEE Jul 2014 206.05 +0.20 +0.10%
ORANGE JUICE-A Jul 2014 160.6 -0.6 -0.37%
IPATH DJ-UBS SUGAR TRUST 56.6799 +0.6198 +1.09%
IPATH DJ-UBS SOFTS TRUST 53.4100 -0.3201 -0.58%

FOOD & FIBER

May coffee closed lower on Wednesday. The low-range close set the stage for a steady to lower opening on Thursday. Stochastics and the RSI are neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 19.81 would confirm that a short-term top has been posted. If May renews 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 sharply higher on Wednesday. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are oversold and are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Today's close above the 10-day moving average crossing at 29.69 confirms that a low has been posted. If May renews the decline off March's high, the reaction low crossing at 28.86 is the next downside target.

May sugar closed higher on Wednesday. The high-range close set the stage for a steady to higher opening on Thursday. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If May renews the rally off April's low, the reaction high crossing at 18.10 is the next upside target. Closes below the 20-day moving average crossing at 17.00 would temper the near-term friendly outlook.

May cotton closed slightly lower on Wednesday. The low-range close sets the stage for a steady to lower opening on Thursday. 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 97.35 is the next upside target. Closes below the 20-day moving average crossing at 91.39 would confirm that a short-term top has been posted.



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Grains Snapshot
Symbol Last Change %
CORN Jul 2014 516.25 -2.75 -0.53%
OATS Jul 2014 360.00 -0.50 -0.14%
WHEAT Jul 2014 719.00 -2.50 -0.35%
TEUCRIUM CORN 35.2000 -0.3000 -0.85%
IPATH DJ-UBS GRAINS TRUST 52.0304 -0.1572 -0.30%
ELEMENTS MLCX GRAINS INDEX TRUST 6.8400 +0.0100 +0.15%
SOYBEANS Jul 2014 1504.75 -8.00 -0.53%
SOYBEAN (MINI) Nov 2014 1241.625 -5.125 -0.41%
SOYBEAN MEAL Jul 2014 489.2 -4.5 -0.91%
TEUCRIUM SOYBEAN 26.0696 +0.0896 +0.34%

GRAINS

May corn was lower due to profit taking overnight as it consolidates some of the rally off last Monday's low. 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 last week's low, April's high crossing at 5.19 is the next upside target. Closes below the 20-day moving average crossing at 5.02 1/2 would confirm that a short-term top has been posted. First resistance is Tuesday's high crossing at 5.16. Second resistance is April's high crossing at 5.19. First support is the 20-day moving average crossing at 5.02 1/2. Second support is last Monday's low crossing at 4.85 1/2.

May wheat was lower due to profit taking overnight as it consolidates some of the rally off last week's low. The low-range close sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If May extends the aforementioned rally, March's high crossing at 7.23 1/2 is the next upside target. Closes below the 20-day moving average crossing at 6.84 1/2 would temper the bearish outlook. First resistance is Wednesday's high crossing at 7.16. 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 12 1/2-cents at 8.08 3/4.

May Kansas City wheat closed higher on Wednesday and posted a new high for the year. Today's high-range close sets the stage for a steady to higher opening on Thursday. 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, the 62% retracement level of the October-January-decline crossing at 8.13 is the next upside target. Closes below the 20-day moving average crossing at 7.52 would confirm that a short-term top has been posted. First resistance is today's high crossing at 8.11. Second resistance is the 62% retracement level of the October-January-decline crossing at 8.13. First support is the 20-day moving average crossing at 7.52. Second support is the reaction low crossing at 7.19.

May Minneapolis wheat was higher overnight as it extends the rally off April's low. 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 overbought but remain neutral to bullish signaling that a low might be in or is near. If May extends this month's rally, March's high crossing at 7.70 is the next upside target. Closes below the 20-day moving average crossing at 7.27 1/4 would confirm that a short-term top has been posted. First resistance is the overnight high crossing at 7.58 1/2. Second resistance is March's high crossing at 7.70. First support is the 38% retracement level of this year's rally crossing at 7.03 1/4. Second support is the 50% retracement level of this year's rally crossing at 6.82 1/2.

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

May soybeans were lower due to profit taking overnight. The low-range close sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are overbought and remain neutral to bullish signaling that additional strength is possible near-term. If May renews this year's rally, weekly resistance crossing at 15.61 is the next upside target. Closes below the reaction low crossing at 14.64 would confirm that a short-term top has been posted. First resistance is Wednesday's high crossing at 15.32. Second resistance is weekly resistance crossing at 15.61. First support is the reaction low crossing at 14.64. Second support is the 38% retracement level of this year's rally crossing at 14.23.

May soybean meal was lower due to profit taking overnight. The low-range close sets the stage for a steady to lower opening when the day session begins trading. 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 year's rally, weekly resistance crossing at 505.90 is the next upside target. Closes below the 20-day moving average crossing at 485.30 would confirm that a short-term top has been posted. First resistance is Wednesday's high crossing at 504.80. Second resistance is weekly resistance crossing at 505.90. First support is the 20-day moving average crossing at 485.30. Second support is the reaction low crossing at 477.00. Third support is the reaction low crossing at 472.00.

May soybean oil was lower overnight. The mid-range close sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends this week's decline, the reaction low crossing at 41.11 is the next downside target. Closes above the 10-day moving average crossing at 42.62 would confirm that a short-term low has been posted. First resistance is the reaction high crossing at 43.74. Second resistance is March's high crossing at 45.05. First support is the reaction low crossing at 41.11. Second support is March's low crossing at 39.85.



 
Indexes Snapshot
Symbol Last Change %
DJ 30 INDUSTRIALS 16580.84 +45.47 +0.27%
NASDAQ COMPOSITE INDEX (COMBINED) 4114.42 +10.88 +0.26%
S&P 500 CASH 1883.95 +5.62 +0.30%
SPDR S&P 500 188.32 +0.57 +0.30%
QQQQ VOLATILITY INDEX 12.48 +1.33 +10.67%
iShares RUSSELL 2000 INDEX 111.90 +0.66 +0.59%

U.S. STOCK INDEXES

The June NASDAQ 100 was higher overnight as it extends the rebound off Monday's low. Stochastics and the RSI remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June renews the rally off April's low, April's high crossing at 3669.00 is the next upside target. Closes below the 20-day moving average crossing at 3538.18 would confirm that a short-term top has been posted. First resistance is April's high crossing at 3669.00. Second resistance is March's high crossing at 3733.25. First support is the 20-day moving average crossing at 3538.18. Second support is April's low crossing at 3404.75.

The June S&P 500 was slightly higher overnight as it extends this week's rebound off Monday's low. Stochastics and the RSI are overbought but remain 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 20-day moving average crossing at 1857.18 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 20-day moving average crossing at 1857.18. Second support is the 50% retracement level of the February-April-rally crossing at 1809.03.



 
Interest Snapshot
Symbol Last Change %
T-BONDS Jun 2014 134.84375 -0.09375 -0.07%
iShares FLOATING RATE NOTE 50.738 -0.002 -0.00%
5 YEAR T-NOTES Jun 2014 119.414063 -0.039063 -0.03%
ULTRA T-BONDS Jun 2014 147.00000 -0.28125 -0.19%
POWERSHARES SENIOR LOAN PORTF 24.740 +0.050 +0.20%

INTEREST RATES

June T-bonds were lower overnight. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near-term. Closes below the reaction low crossing at 133-14 are needed to confirm that a short-term top has been posted. If June renews this year's rally, 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 reaction low crossing at 133-14. Second support is April's low crossing at 131-21.



 
Livestock Snapshot
Symbol Last Change %
FEEDER CATTLE Aug 2014 187.675 +0.200 +0.11%
LEAN HOGS Jun 2014 122.950 -0.175 -0.14%
LIVE CATTLE Jun 2014 137.20 0.00 0.00%
IPATH DJ-UBS LIVESTOCK TRUST SUB 31.3888 -0.0912 -0.29%

LIVESTOCK

June hogs closed down $2.15 at $123.12.

June hogs closed lower due to profit taking on Wednesday. The low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 123.09 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 $0.18 at 137.20.

June cattle closed higher on Wednesday as it extends the rally off this month's low. The mid-range close sets the stage for a steady to higher opening when Thursday's session begins trading. Stochastics and the RSI are overbought but remain 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 137.72. 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 $0.62 at $180.57.

May Feeder cattle closed higher on Wednesday. Today's high-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are diverging but are neutral to 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 Monday'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 1284.9 -11.0 -0.85%
SPDR GOLD SHARES 124.26 -0.60 -0.48%
SILVER Jul 2014 19.115 -0.059 -0.31%
PALLADIUM Jun 2014 817.35 +4.85 +0.60%
DIREXION DAILY GOLD MINERS BEA 23.4804 +0.4314 +1.83%
POWERSHARES DB PRECIOUS METALS 41.4600 -0.1300 -0.31%

PRECIOUS METALS

June gold was lower overnight as it consolidates some of the rally off last Thursday's low. Stochastics and the RSI are turning neutral to bearish hinting that sideways to lower prices are possible near-term. If June renews the decline off April's high, the 62% retracement level of the January-March-rally crossing at 1265.10 is the next downside target. If June renews the rally off last week's low, April's high crossing at 1331.40 is the next upside target. First resistance is April's high crossing at 1331.40. Second resistance is the reaction high crossing at 1343.20. First support is the 62% retracement level of the January-March-rally crossing at 1265.10. Second support is the 75% retracement level of the January-March-rally crossing at 1237.80.

May silver was lower overnight as it extends the decline off February's high. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends the decline off February's high, January's low crossing at 18.800 is the next downside target. Multiple closes above the 20-day moving average crossing at 19.650 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 19.650. Second resistance is April's high crossing at 20.400. First support is last Thursday's low crossing at 18.930. Second support is January's low crossing at 18.800.

May copper was lower overnight as it extends this week's decline below the 20-day moving average. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near-term. If May extends this week's decline, the reaction low crossing at 296.55 is the next downside target. Closes above the 10-day moving average crossing at 306.70 would confirm that a short-term low has been posted. First resistance 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 it the reaction low crossing at 296.55. Second support is March's low crossing at 287.70.



 
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10. KE.N14.E HARD RED WINTER WHEAT Jul 2014 812.00 -0.50 -0.06% 1,347 +100    Entry Signal

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