CCI Commodity Index - 4-month Falling Wedge Breakout Signals Basing

S&P Index Stages Daily Bull Channel Breakout, but Forms Potential Bearish Divergence on Weekly Chart

AUDUSD - 16-month Triangle Breakout & AUDJPY - 3-1/2 year Bull Channel Resistance Breakout

Commodity Index (CCI) - Consolidates within a Falling Wedge

EURUSD - 5-1/2 month Bull Channel Support Held, Eyeing 1.3311

USDCAD - Testing 3-month Bull Trendline Support & USDCHF - Capped by 6-month Bear Trendline, Eyeing .9076

S&P 500 Index - 4-Year Rising Trendline Underscores Upside

2/30 Yield Curve - Continues to Steepen, Targeting Bull Channel Resistance

Dow Jones Industrial Average - Bases Under Former 15-Month Bull Trendline

AUDUSD - Probes 16-Month Triangle Resistance

NZDUSD - Bases Above 6-1/2 Month Bull Trendline

US Dollar Index - 12-Month Bull Trendline Support Underpins Recent Strength

EURUSD - Tests 5-1/2 Month Bull Channel Support above 19-Month Bear Trendline

GBPUSD - Consolidates Under 4-Year Triangle Resistance

USDCHF - Extends Recent Strength to Probe 6-Month Bear Trendline on Daily Chart

US Treasury Bonds - 20-Month Bull Trendline Breakdown, Suggesting Further Downside

10-year US Treasury Note Yield 4-Month Breakout, Targeting 2.40%

USDJPY 20-Month Triangle Bottom Breakout, Targeting 95.00

FB – Potential Bull Flag Pattern Underpins Further Upside (BUY)

FB (Facebook Inc. @ 28.00) broke out of a 12-day falling channel to form a potential bull flag pattern on the daily chart. With the momentum indicator shifting higher, there is scope for further upside. A decisive break above the key 28.88/28.75 (3/13 December highs) resistance area would confirm the bullish continuation pattern and initiate the next upleg towards 30.55 (2 July low, near the 50% retracement of the 45.00/17.55 fall). Further strength above there would open 31.40 (12 July 2012 high) which guards 33.45 (22 June 2012 high).
However, a move below 26.99 (31 December high) would delay bulls and shift the immediate focus back towards the 25.15/24.10 support zone (28 December low/5-month triangle base resistance, now support). Only a push below there would negate and expose 18.87 (12 November low).
Trading Indication:
Short-term:
Buy Entry: near 27.50;
Target: 31.00 initially (12.7%) and higher;
Stop Loss: below 26.80 (2.6%)

SEA -- 7-month Bear Channel Breakout Points Higher (BUY)

SEA (Claymore/Delta Global Shipping ETF @ 16.10) broke out of a 7-month bear channel after posting a 52-week low at 14.40 (15 November 2012). The recent pullback off the 16.17 high (20 December) found support at 15.79 (31 December low) ahead of the former bear channel resistance now support at 15.50. With the daily momentum indicator shifting higher, there is scope for further upside. Clearance above 16.17 would confirm bullish continuation and initiate the next upleg towards 16.87 (9 May 2012 high, near the channel height target and the 50% retracement of the 19.31/14.40 downswing). Further strength above there would open 17.30 (23 April 2012) which guards 18.10 (30 April 2012 high).
It would take a move below the 15.50 support to delay bulls and shift the immediate focus back towards the key 7-month zone 14.98/14.92 (28 November/31 August lows).
Trading Indication:
Short-term:
Buy Entry: near 15.79;
Target: 16.87 initially (6.8%) and higher;
Stop Loss: below 15.50 (2%)