COMEX MCX ALERT

APR GOLD Resist: 1356-1361, 1370, 138150* ST Trend: Sdwys/Up (135120) Supprt: 1344-1342, 133890* Obj: 1378 TRP: 1328.90 Comment: Last week's thrust up from congestion days is signaling a bottoming turn and projects climbing rallies back into the January selloffs. Stable action around recent congestion highs will provide a staging level for renewed advances by mid week. A close over 1361 could accelerate rallies. A close under 133890* will void last Thursday's upturn, but only a close below 132890* rekindles bear trending trade.

MAR SILVER Resist: 29375*, 2946-2949, 2980 ST Trend: Sdwys (2935) Supprt: 2836, 28165, 27495* Obj: None TRP: 2937.5 Comment: The market is staging a recovery against the prevailing down trend and near term alerts for further testing of 29375* resistance. A close over 29375* will mark a reversing turn and chance for a bull climb back to 3000+. Be careful for a setback from 29375*-2960 on the first test. A drop under last Thursday's low marks a bear turn out of the recovery pattern, but a close under 27495* is needed to rekindle bear trending to 2610*.

MAR COPPER Resist: 460?, 465+/-, 482+/- ST Trend: Up (45795) Supprt: 45175, 44680*, 44190 Obj: 465 TRP: 437.20 Comment: The market is bullish with the current bull wave showing a swing target to 465. If we see a close over 465, the larger pattern shows potential to 482 as well as chances for a blow off. Be prepared for stalled action around 460 to trigger corrections, but selloffs should fight to hold off the mid-low 440's. A close under 44680* is needed to drive a retracement to test 43720* for a turnover.

MAR CRUDE OIL Resist: 8781, 8840-46, 8934* ST Trend: Down (8723) Supprt: 8644-20, 8555-, 8511- Obj: 8574 TRP: 90.68 Comment: The sharp retraction of the past couple days flips the trend forces back down and alerts for a retracement of recent rallies, sending a dip to 8574-. Trade is poised for continuation selloffs. A close under 8574 could send declines pressing to the 8511 low. We could see some corrections back within Monday's range, but a close over 8934* is needed to stop pressing bear forces. A close over 9068* is needed for a return to bull trending trade.

MAR NATRL GAS Resist: 4177, 4240-4249, 4377* ST Trend: Down (4104) Supprt: 4025, 3950, 3848* Obj: 3848 TRP: 43.77 Comment: Yesterday's sharp break marks a bear flag downturn from last week's congestion and signals a larger downturn that could press for weekly support at 3848*. The weak close alerts for follow through selloffs. A close under 4064 signals for declines to 3950/3848*. We may see attempts to back trade to yesterday's gap, but a failure to fill the gap by Thursday will reinforce the bear formation. A close over 4377* is needed to trigger a reversing turnaround.

MAR B-POUND Resist: 16138, 161812*, 16260-74 ST Trend: Sdwys/Up (16102) Supprt: 16060*, 15963* Obj: None TRP: 159.63 Comment: Last week's rallies staged a challenge of the early November swing high, but was rejected into corrective setbacks that may extend into this week. Be ready for reactionary setbacks around 16060*. A close under 16060* is near term negative, but only a close under 15963* signals a reversing turnover. Powering a breakout over 16264 gives significant bull signals and provides an initial target to 164.

MAR CANADIAN$ Resist: 10130-63, 10220 ST Trend: Sdwys/Up (10087) Supprt: 10076, 10047-20* Obj: None TRP: 100.20 Comment: Last week's thrust higher signals an upturn from recent flagging trade and alerts for rallies to drive to attack the recent swing high. A close over 10153 confirms an upside breakout and quick extension to 10220. Monday's inside day cautions for additional consolidation around 10050+/-. A close under 10020* is needed to signal a reversal to lower levels.

MAR EURO Resist: 13642, 13700-13721* ST Trend: Sdwys/Down (13581) Supprt: 13564-, 13479* Obj: 13479 TRP: 137.21 Comment: The sharp drop late last week alerts for a short term reversing turn into topping trade and calls for follow through selloffs. The penetration under 13564- is negative and should promote selloffs to the 13479* retracement support level. We may see congestion inside the lower half of last Thursday's break, but only a close over 13721* will trigger a return to bull trend forces.

MAR J-YEN Resist: 12202, 12259*, 12331-41 ST Trend: Up (12152) Supprt: 12142*, 121*, 12019- Obj: 12335 ACHD TRP: 121.42 Comment: Friday's outside bear reversal shows the market backing off from the previous swing high and alerting for a peaking turnover. Be ready for continued pressured trade. Closes under 12142* and 121* should send selloffs to 12019-. If trade holds against 12142*-121*, then we may see corrections within Friday's range, but only a close over 12259* rekindles bull trend forces. Tight congestion near 122+/- will bear flag.

MAR SWISS Resist: 10523, 10575, 10607* ST Trend: Sdwys/Up (10468) Supprt: 10411*, 10340, 10250+/- Obj: 10762 TRP: 104.11 Comment: The break down late last week signals a near term peaking turn and has trade pressing to test 10411* for a larger trend turn to lower levels. A close under 10411* could open up a selling wave to 10250-. Be alert for a bounce off 10411* that could foster correction back through Friday's selloff, but only a close over 10607* signals a turn back to bull trending trade.

MAR MINI S&P Resist: 1322?, 1340+/- ST Trend: Up (131575) Supprt: 1309-1308, 1299-129775* Obj: 1340 TRP: 1284.25 Comment: The market is bullish, staging an accelerating breakout at new highs that targets rallies to 1340. The surge in the bull momentum hints for aggressive rallies the next few days. Be alert for a spike high up around 1340 that could signals a short term extreme. Any corrective dips should hold 129775*+ to keep strong upside forces. A close under 129775* alerts for near term setbacks, but only a close under 128425* alerts for a topping reversal.

MAR MINI DJ Resist: 12133, 12200+ ST Trend: Up (12108) Supprt: 12020, 11968*, 11862* Obj: 12200 TRP: 118.62 Comment: The market is bullish and thrust into new highs calls for aggressive rallies and likely climb to 12200. A close over 12225 could spark a blow off run. Any corrections that hold 11968 will maintain strong bull forces. A close under 11968* may prompt a reactionary pullback into last week's range, but only a close under 11862* alerts for a reversing turnover to start topping setbacks.

MAR MIN NASDAQ Resist: 234650, 237100, 240000+ ST Trend: Up (234500) Supprt: 230800-230550, 229100* Obj: 240000+? TRP: 2253.75 Comment: The market is bullish, suggesting a breakout over the 234650 high which should launch a fresh bull drive to reach over 240000+. If trade struggles to close over 234650 today-Wednesday, then be prepared for minor setbacks for a few congestion days along 230000. Closes under 229100*/225375* are needed for a downturn.