S&P 500 Futures:  Friday’s strong bullish bar should have been confirmed by an up bar yesterday, but it didn’t happen. Meaning the outlook is mixed, with strength in the background from Friday, but need to see a daily close above 1067 to confirm. Below this 1067 level it remains weak. A break above could see short covering. Key support is now Friday’s low (1040.75) and the 23,60% Fibonacci retracement of the March 09 to January 2010 coming in at 1031. Key resistance remains 1103.

Dow Jones Futures: Same bullish price action as S&P futures Friday and looking for a confirmation through an up bar today to open for a push higher. Key resistance up at 10263 for now and need get above 10 000 to open for a rally higher and potential trigger short covering.

DAX Futures:  Traded higher towards the close Friday, but not as strong reversal as S&P and Dow futures. Key support remains 5330. We see –4 Sigma band down at 5253 and we note that this –3 Sigma band has provided support over previous weeks. Key resistance is 5621 now, last reaction high.

Crude Oil Futures:  From yesterday “In the bigger picture, crude is trading inside a sideways channel with support at 67.87 and resistance at 84.33. Over supply in the Crude market mixed with tension and increased risk appetite have been some of the major drivers last 6 months, but none of these have been significantly strong to get any decent trend going in either direction. Looking for bounce higher along with risk on in the other markets today. Keep an eye on S&P futures, looks like equities as dictating price across the line. Possible delay in release of DOE, so monitor the news feeds for more info.

Nat Gas Futures:  Seen a 4.50 to 6.10 range for most the last 2 months, looks heavy towards 6.10. Nat Gas is by far the most volatile of the markets we monitor. Nat Gas seems to be driven more by supply and demand in the local market than risk appetite. Key support down 5.10 today and expect this level to hold.

Corn Futures:  Not able to do anything to the upside since that bearish USDA report out a month ago, sell rallies looks the best for now. Key support is 318, where it could be interesting to go long if the right signals confirm.

Soybeans Futures:  Good supply pressing prices down last few weeks. Looks like it has topped out for now and key support down at 888, which could be an interesting level to get long at. We note the volume has increased on the sell off last weeks, which is signaling that selling oversampling buyers in a dominant way. Need to see a clear reversal pattern to get long.

Gold Futures:  Risk off hit gold hard last few sessions and it broke blow 1075 and approaching -3 Sigma level at 1051 that Signals the move should have a decent chance to bounce back into the range near term. However the break of 1075 now confirms an end to the recent uptrend as this makes now a lower high and a lower low on daily chart. Meaning 1075 is key resistance now.

10 Year Treasury Futures :  Risk off saw prices rise back above the 118.15 resistance and it opens for a run towards 119 level. The +3 Sigma should provide resistance near term.



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