International Technical Trading Institute, LLC

THERE IS ALWAYS RISK OF LOSS IN FUTURES AND FOREX TRADING.
Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction.

Andrey Korchnoy, CTA, Sr. Systems Analyst

Weekly E-Minis’ Futures Commentary 3/27/2009

The Standard & Poor’s 500 Index gained for a third week, pushing it toward the biggest monthly advance since 1991, after a government plan to rid banks of toxic assets and improving economic reports ignited a rally that sent the U.S. stocks benchmark into a bull market. The S&P 500 has rebounded in the past three weeks after sliding 20 percent from Inauguration Day to March 9. The decline was the steepest for a newly elected president in at least 80 years, according to data compiled by Bloomberg

Financial markets retrace from the lows and some price recovery is expected next weeks. There will be good buy opportunities on stocks only if investors start believing again in potential of economic recovery, leading markets into temporary rally that could continue several months. Expected support/ resistance levels next week:

March Mini S&P Futures – trading range is: buy at 780 and sell at 850
Supports: 800, 780, 767, 740, 726, 700, 685 and 667
Resistances: 830, 850, 875, 900, 925, 950, 1000, 1050, 1100, 1150, 1185, 1200, 1226, 1240, 1285, 1327, 1360, 1400, 1425, 1451, 1500, 1554 and 1585

March Mini NASDAQ Futures – trading range is: buy at 1200 and sell at 1290
Supports: 1240, 1200, 1150, 1100, 1060, 1040 and 1000
Resistances: 2172, 2045, 2000, 1975, 1925, 1870, 1857, 1800, 1763, 1700, 1650, 1620, 1560, 1500, 1450, 1400, 1350, 1290

March Mini DOW Futures – trading range is: buy at 7650 and sell at 7850
Supports: 7650, 7450, 7350, 7200, 7000, 6800, 6600 and 6450
Resistances: 7850, 8000, 8300, 8800, 9000, 9300, 9600, 10000, 10200, 10600, 11000, 11150, 11400, 11650, 12000

Currency Futures Overview 3/27/2009

The dollar and yen rose as traders fled the euro and pound on evidence Europe’s recession is deepening. German Finance Minister Peer Steinbrueck said the euro might be hurt if member states stray from European Union budget rules, warning nations to exercise spending discipline or risk priming the next financial crisis. The pound slipped to the lowest level in six days against the dollar after a government report showed the U.K. sank deeper into recession last year than economists forecast.

Some Currencies Futures and suggested support/resistance levels for next week:

March Euro Currency Futures – trading range is: buy at 1.3000 and sell at 1.3450
Resistances: 1.3450, 1.3550, 1.3650, 1.3850, 1.4050, 1.4170, 1.4430, 1.4600, 1.4750, 1.5000, 1.5350, 1.5580, 1.5720, 1.5950, 1.6200 - historic projected high.
Supports: 1.3200, 1.3000, 1.2800, 1.2600, 1.2350, 1.2200, 1.1850 - major.

March British Pound Futures – trading range is: buy at 1.4250 and sell at 1.4500
Resistances: 1.4500, 1.4800, 1.5000, 1.5300, 1.5650, 1.5800, 1.6000, 1.6400, 1.6800, 1.7050, 1.7200, 1.7350, 1.7570, 1.7850, 1.8200, 1.8620, 1.8800, 1.9100, 1.9580, 1.9850, 2.0000, 2.0200-2.0170, 2.08
Supports: 1.4250, 1.4000, 1.3800, 1.3550, 1.3400 1.3250

March Canadian Dollar Futures – trading range is: buy at 0.7900 and sell at 0.8270
Resistances: 0.8080, 0.8270, 0.8400, 0.8580, 0.87-major, 0.8850, 0.9000, 0.9200, 0.9400, 0.9600, 0.9720, 0.9850, 1.0000, 1.0220, 1.0400, 1.0750.
Supports: 0.7900, 0.7700, 0.7580.

Mini Crude Oil Futures Overview 3/27/2009.

Crude oil in New York fell the most in two weeks as the dollar’s gain against the euro reduced the appeal of commodities to investors and stock markets declined. Crude oil for May delivery fell $1.96 to settle at $52.38 a barrel at 2:51 p.m. on the New York Mercantile Exchange. The contract rose 0.6 percent this week. Prices are up 17 percent this year.

May Mini Crude Oil reached supports below $40 and probably will find some trading range above this levels. Now when speculation against energy demand and supply continues price might return higher. Generally on Crude Oil prices declined too much too fast and some correction in downtrend is expected in the next April futures contract. Expected support/ resistance levels next week on April contract: buy at $48.00 and sell at $54.50

Resistances: $147.50, $143.00, $138.50, $131.00, $128.50, $121.50, $118.50, $114.50, $111.50, $108.50, $102.60, $105.50, $100.00 - major, $98.50, $94.00, $91.50, $87.60, $85.50, $83.00, $80.00, $78.50, $74.70. $71.15, $68.50, $65.5, $62.50, $60.00, $58.50, $56.50, $54.50, $52.50
Supports: $50.00, $48.00, $44.50, $42.50, $40.00, $38.00, $35.00, $32.50

The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any securities or commodities. Readers are solely responsible for how they use the information and for their results.

International Technical Trading Institute, LLC, its officers, directors, employees and CTAs may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction.

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