| Currencies
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Mar 20, 2009 The June Euro was lower due to profit taking overnight as it consolidates above 50% retracement level of the December-March decline crossing at 135.215. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible. If June extends this month's rally, the 62% retracement level of the December-March decline crossing at 137.736 is the next upside target. Closes below the 20-day moving average crossing at 128.603 would temper the near-term friendly outlook. First resistance is the 62% retracement level crossing at 137.736. Second resistance is the 75% retracement level crossing at 140.557. First support is the 10-day moving average crossing at 130.492. Second support is the 20-day moving average crossing at 128.603.
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| US Index Futures - the New Day Trading |
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Mar 20, 2009 The June S&P 500 index was lower due to profit taking as it consolidates some of this week's rally. Stochastics and the RSI are overbought but remain neutral to bullish signaling that additional gains are possible. If June extends this rally, gap resistance crossing at 816.20 is the next upside target. Closes below the 20-day moving average crossing at 734.36 would temper the near-term friendly outlook in the market. First resistance is Thursday's high crossing at 800.50. Second resistance is gap resistance crossing at 816.20. First support is the 10-day moving average crossing at 748.08. Second support is the 20-day moving average crossing at 734.36. The June S&P 500 Index was down 6.60 pts. at 773.50 as of 6:01 AM CST. Overnight action sets the stage for a lower opening by the March S&P 500 index when the day session begins later this morning.
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| GoldBug Delight |
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Mar 20, 2009 April gold 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 April extends this week's rally, February's high crossing at 1007.70 is the next upside target.
Closes below Wednesday's low crossing at 882.70 would confirm that a short-term top has been posted. First resistance is the overnight high crossing at 967.80. Second resistance is February's high crossing at 1007.70. First support is the 20-day moving average crossing at 933.20. Second support is the 10-day moving average crossing at 921.90.
May silver was steady to slightly higher overnight as it extends Thursday's rally. Stochastics and the RSI are turning bullish signaling that sideways to higher prices are possible near-term. If May extends this week's rally, February's high crossing at 14.635 is the next upside target. Closes below the 10-day moving average crossing at 12.898 would confirm that a short-term top has been posted.
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