S&P 500 Futures:  Failed to take out 1140 yesterday and closing at the lower end of the day, which is slightly bearish and could possibly a no demand bar given the low volume. If it was a no demand bar, today should be wide bar down today. The key resistance remains 1148 and a break here will probably trigger a bunch of stops from traders being short. We note that +3 Sigma is at 1166 for the moment, which should contain the move for now as it is very rare we see a move go through +-3 Sigma bands and don’t expect that to happen now either. Key support is now down at 1094 level.

Dow Jones Futures: Finally took out the 11423 resistance level and similar as the S&P, the focus is now for a potential test of the January high at 10687 and we expect stops above this level.

DAX Futures:  Pretty much same view as yesterday and we don’t expect any major moves today to the upside: “Closed right up at the +2 Sigma band level and we open for a test of the 6000 to 6100 resistance level next. However we like to note that price very seldom break through the +-2 Sigma bands so not sure we will see any powerful up move the next few days.”

Crude Oil Futures:  Made the break above the 81.50 USD per barrel Friday that opens for a test of the 83-84.50 resistance zone and high end of the recent 6 months range.

Nat Gas Futures: Made low of 4.45 yesterday which is very close to the 4.42, 6 months low and the close was off the low, which signals some buying, so might be potential for a bounce near term, but we need to see a confirmation in form of a wider up bar and close on the high with average volume preferably to have a look at longs. However we would be more cautious with shorting at these levels. We note that -2 Sigma is down at 4.35.

www.avantagefinancial.ch