KEY EVENTS TO WATCH FOR:
Tuesday, January 30, 2018
7:45 AM ET. The Retail Economist/Goldman Sachs Weekly Chain Store Sales Index
Chain Store Sales, W/W% (previous +0.1%)
Chain Store Sales, M/M% (previous +3.4%)
8:55 AM ET. Johnson Redbook Retail Sales Index
Ret Sales Mo-to-Date, M/M% (previous +0.0%)
Ret Sales Mo-to-Date, Y/Y% (previous +3.3%)
Latest Wk, Y/Y% (previous +3.8%)
9:00 AM ET. November S&P CoreLogic Case-Shiller Indices
10-City Idx, M/M% (previous +0.2%)
10-City Idx, Y/Y% (previous +6.0%)
20-City Idx, M/M% (previous +0.2%)
20-City Idx, Y/Y% (expected +6.3%; previous +6.4%)
National Idx, M/M% (previous +0.2%)
National Idx, Y/Y% (previous +6.2%)
10:00 AM ET. 4th Quarter U.S. Housing Vacancies
10:00 AM ET. January Consumer Confidence Index
Cons Conf Idx (expected 123.1; previous 122.1)
Expectation Idx (previous 99.1)
Present Situation Idx (previous 156.6)
3:00 PM ET. January Agricultural Prices
Farm Prices, M/M% (previous +4.2%)
4:30 PM ET. API Weekly Statistical Bulletin
Crude Stocks, Net Chg (Bbls) (previous +4.8M)
Gasoline Stocks, Net Chg (Bbls) (previous +4.1M)
Distillate Stocks, Net Chg (Bbls) (previous -1.3M)
Refinery Runs
N/A U.S. Federal Open Market Committee meeting
Wednesday, January 31, 2018
7:00 AM ET. MBA Weekly Mortgage Applications Survey
Composite Idx (previous 424.4)
Composite Idx, W/W% (previous +4.5%)
Purchase Idx-SA (previous 264.4)
Purchase Idx-SA, W/W% (previous +6.1%)
Refinance Idx (previous 1325.8)
Refinance Idx, W/W% (previous +0.9%)
8:15 AM ET. January ADP National Employment Report
Private Sector Jobs, Net Chg (expected +180000; previous +250000)
8:30 AM ET. 4th Quarter Employment Cost Index
ECI, Q/Q% (expected +0.6%; previous +0.7%)
ECI, Y/Y% (previous +2.5%)
8:30 AM ET. U.S. Department of the Treasury's quarterly refundingannouncement
9:45 AM ET. January ISM-Chicago Business Survey - Chicago PMI
PMI-Adj (expected 63.0; previous 67.6)
10:00 AM ET. January Online Help Wanted Index
10:00 AM ET. December Pending Home Sales Index
Pending Home Sales (previous 109.5)
Pending Home Sales Idx, M/M% (expected +0.5%; previous +0.2%)
Pending Home Sales Idx , Y/Y% (previous +0.8%)
10:30 AM ET. EIA Weekly Petroleum Status Report
Crude Oil Stocks (Bbl) (previous 411.583M)
Crude Oil Stocks, Net Chg (Bbl) (previous -1.071M)
Gasoline Stocks (Bbl) (previous 244.04M)
Gasoline Stocks, Net Chg (Bbl) (previous +3.098M)
Distillate Stocks (Bbl) (previous 139.84M)
Distillate Stocks, Net Chg (Bbl) (previous +0.639M)
Refinery Usage (previous 90.9%)
Total Prod Supplied (Bbl/day) (previous 20.636M)
Total Prod Supplied, Net Chg (Bbl/day) (previous -0.173M)
2:00 PM ET. U.S. interest rate decision
Federal Funds Rate
Federal Funds Rate Change (Pts)
Fed Funds Rate-Range High (previous 1.50)
Fed Funds Rate-Range Low (previous 1.25)
FOMC Vote For Action (previous 7)
FOMC Vote Against Action (previous 2)
Discount Rate (previous 2.00)
Discount Rate Change (Pts) (previous +0.25)
Discount Rate-Range High
Discount Rate-Range Low
Thursday, February 1, 2018
7:30 AM ET. January Challenger Job-Cut Report
Job Cuts, M/M% (previous -7.4%)
8:30 AM ET. U.S. Weekly Export Sales
Corn (Metric Tons) (previous 1890.7K)
Soybeans (Metric Tons) (previous 1527.9K)
Wheat (Metric Tons) (previous 190.6K)
8:30 AM ET. 4th Quarter Preliminary Productivity & Costs
Non-Farm Productivity, Q/Q% (expected +0.6%; previous +3.0%)
Unit Labor Costs (expected +0.9%; previous +0.5%)
8:30 AM ET. Unemployment Insurance Weekly Claims Report - Initial Claims
Jobless Claims (expected 235K; previous 233K)
Jobless Claims, Net Chg (previous +17K)
Continuing Claims (previous 1937000)
Continuing Claims, Net Chg (previous -28K)
9:30 AM ET. IMF regular press briefing
9:45 AM ET. January US Manufacturing PMI
PMI, Mfg (previous 55.1)
9:45 AM ET. Bloomberg Consumer Comfort Index
10:00 AM ET. December Construction Spending - Construction Put in Place
New Construction (expected +0.3%; previous +0.8%)
Residential Construction
10:00 AM ET. January ISM Manufacturing Report on Business
Manufacturing PMI (expected 58.5; previous 59.7)
Prices Idx (previous 69.0)
Employment Idx (previous 57.0)
Inventories (previous 48.5)
New Orders Idx (previous 69.4)
Production Idx (previous 65.8)
10:30 AM ET. EIA Weekly Natural Gas Storage Report
Working Gas In Storage (Cbf) (previous 2296B)
Working Gas In Storage, Net Chg (Cbf) (previous -288B)
11:00 AM ET. January Global Manufacturing PMI
PMI, Mfg (previous 54.5)
4:00 PM ET. January Domestic Auto Industry Sales
Auto Sales Annualized (expected 17.3M; previous 17.85M)
4:30 PM ET. Federal Discount Window Borrowings
4:30 PM ET. Money Stock Measures
4:30 PM ET. Foreign Central Bank Holdings
Friday, February 2, 2018
8:30 AM ET. January U.S. Employment Report
Non-Farm Payrolls (expected +175K; previous +148K)
Unemployment Rate (expected 4.0%; previous 4.1%)
Avg Hourly Earnings (USD) (previous 26.63)
Avg Hourly Earnings-Net Chg (USD) (previous +0.09)
Avg Hourly Earnings, M/M% (expected +0.3%; previous +0.34%)
Avg Hourly Earnings, Y/Y% (previous +2.5%)
Overall Workweek (previous 34.5)
Overall Workweek Net Chg (previous +0)
Government Payrolls (previous +2K)
Private Payroll (previous +146K)
Participation Rate (previous 62.7%)
Non-Farm Payrolls Bench Net Chg
9:45 AM ET. January ISM-NY Report on Business
Business Index (previous 56.3)
10:00 AM ET. January University of Michigan Survey of Consumers – final
End-Mo Sentiment Idx (expected 95.0; previous 95.9)
End-Mo Expectations Idx (previous 84.3)
12-Month Inflation Forecast (previous 2.7%)
5-Year Inflation Forecast (previous 2.4%)
End-Mo Current Idx (previous 113.8)
10:00 AM ET. December Manufacturers' Shipments, Inventories & Orders (M3)
Total Orders, M/M% (expected +1.5%; previous +1.3%)
Orders, Ex-Defense, M/M% (previous +1.2%)
Orders, Ex-Transport, M/M% (previous +0.8%)
Durable Goods, M/M% (previous +1.3%)
Durable Goods, M/M%
The STOCK INDEXES? http://quotes.ino.com/ex?changes/?c=indexes ""
The March NASDAQ 100 closed lower due to profit taking on Monday as it consolidated some of this year's rally.The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends this year's rally into uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average crossing at 6767.34 are needed to confirm that a short-term top has been posted. First resistance is today's high crossing at 7047.25. Second resistance is unknown. First support is the 10-day moving average crossing at 6904.95. Second support is the 20-day moving average crossing at 6767.34.
The March S&P 500 closed lower due to profit taking on Monday as it consolidated some of this year's rally. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends this winter's rally into uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average crossing at 2781.74 are needed to confirm that a short-term top has been posted. First resistance is today's high crossing at 2878.40. Second resistance is unknown. First support is the 10-day moving average crossing at 2828.90. Second support is the 20-day moving average crossing at 2781.74.
The Dow posted an inside day with a lower close on Monday as it consolidated some of this year's rally. U.S. stock traded lower today as Wall Street investors found few fresh catalysts to lift equities further into record territory amid a pickup in borrowing costs. Rising yields can weigh on appetite for assets considered risky like stocks, particularly as yields for bonds climb above those for equities. Looking ahead, investors are waiting on Tuesday's State of the Union speech by President Donald Trump an updated policy statement from the Federal Reserve on Wednesday, a monthly jobs report on Friday and corporate quarterly results from a batch of technology heavyweights throughout the week. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If the Dow extends this year's rally into uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average crossing at 25,721.90 would confirm that a short-term top has been posted. First resistance is last Friday's high crossing at 26,529.44. Second resistance is unknown. First support is the 10-day moving average crossing at 26,218.40. Second support is the 20-day moving average crossing at 25,721.90.
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March T-bonds closed down 20/32's at 148-04.
March T-bonds closed lower on Monday as it renewed the decline off December's high. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off December's high, weekly support crossing at 145-26 is the next downside target. Closes above the 20-day moving average crossing at 150-08 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 150-08. Second resistance is the 50-day moving average crossing at 151-24. First support is today's low crossing at 147-18. Second support is weekly support crossing at 145-26.
March T-notes closed down 75/32's at 121-265.
March T-notes closed lower on Monday as it renewed the decline off last September's high. The mid-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends this month's decline, weekly support crossing at 120.285 is the next downside target. Closes above the 20-day moving average crossing at 122.278 are needed to confirm that a low has been posted. First resistance is the 10-day moving average crossing at 122.106. Second resistance is the 20-day moving average crossing at 122.278. First support is today's low crossing at 121.180. Second support is weekly support crossing at 120.285.
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March crude oil closed lower on Monday as it consolidates above the 50% retracement level of the 2014-2016-decline crossing at 64.20.Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. The mid-range close sets the stage for a steady to lower opening when Tuesday's night session begins. If March extends this winter's rally, the 62% retracement level of the 2014-2016-decline crossing at 70.29 is the next upside target. Closes below the 20-day moving average crossing at 63.42 would confirm that a short-term top has been posted. First resistance is last Thursday's high crossing at 66.66. Second resistance is the 62% retracement level of the 2014-2016-decline crossing at 70.29. First support is the 20-day moving average crossing at 63.42. Second support is the 50-day moving average crossing at 59.93.
March heating oil closed lower on Monday as it consolidates some of the rally off last June's low. The low-range close sets the stage for a steady to lower opening when Tuesday's night trading session begins. Stochastics and the RSI are turning neutral to bearish hinting that a short-term top might be in or is near. Closes below the reaction low crossing at 202.98 would confirm that a short-term top has been posted. If March extends the rally off October's low, the 87% retracement level of the 2014-2016-decline crossing at 221.96 is the next upside target. First resistance is last Friday's high crossing at 213.62. Second resistance is the 87% retracement level of the 2014-2016-decline crossing at 221.96. First support is the reaction low crossing at 202.98. Second support is the 50-day moving average crossing at 198.56.
March unleaded gas posted an inside day with a lower close on Monday as it consolidates some of this year's rally. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off December's low, weekly resistance crossing at 197.79 is the next upside target. Closes below the 20-day moving average crossing at 186.24 would confirm that a short-term top has been posted. First resistance is last Friday's high crossing at 193.93. Second resistance is weekly resistance crossing at 197.79. First support is the 20-day moving average crossing at 186.24. Second support is the 50-day moving average crossing at 179.80.
March Henry natural gas closed higher on Monday as it extends the rally off December's low. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are becoming overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off December's low, the 87% retracement level of the September-December-decline crossing at 3.281 is the next upside target. Closes below the 20-day moving average crossing at 2.958 are needed to confirm that a short-term top has been posted. First resistance is the 75% retracement level of the September-December-decline crossing at 3.177. Second resistance is the 87% retracement level of the September-December-decline crossing at 3.281. First support is the 10-day moving average crossing at 3.042. Second support is the 20-day moving average crossing at 2.958.
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The March Dollar closed higher due to short covering on Monday as it consolidated some of the decline off November's high. The mid-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are oversold but are turning neutral to bullish hinting that a short-term low might be in or is near. Closes above the 20-day moving average crossing at 90.71 are needed to confirm that a short-term low has been posted. If March extends the decline off December's high, weekly support crossing at 87.45 is the next downside target. First resistance is the 10-day moving average crossing at 89.79. Second resistance is the 20-day moving average crossing at 90.71. First support is last Thursday's low crossing at 88.25. Second support isweekly support crossing at 87.45.
The March Euro closed lower due to profit taking on Monday as it consolidates some of the rally off November's low. The mid-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 122.12 are needed to confirm that a short-term top has been posted. If March extends the rally off November's low, monthly resistance crossing at 126.74 is the next upside target. First resistance is last Thursday's high crossing at 125.76. Second resistance is monthly resistance crossing at 126.74. First support is the 10-day moving average crossing at 123.49. Second support is the 20-day moving average crossing at 122.12.
The March British Pound closed lower on Monday. The mid-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 1.3808 would confirm that a short-term top has been posted. If March extends the rally off November's low, the 50% retracement level of the 2014-2016-decline crossing at 1.4608 is the next upside target. First resistance is last Thursday's high crossing at 1.4370. Second resistance is the 50% retracement level of the 2014-2016-decline crossing at 1.4608. First support is the 10-day moving average crossing at 1.4021. Second support is the 20-day moving average crossing at 1.3808.
The March Swiss Franc posted an inside day with a lower close on Monday as it consolidates some of the rally off November's low. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. If March extends the rally off October's low, the 38% retracement level of the 2015-2016-decline crossing at 1.0994 is the next upside target. Closes below the 20-day moving average crossing at 1.0422 are needed to confirm that a short-term top has been posted. First resistance is last Thursday's high crossing at 1.0804. Second resistance is the 38% retracement level of the 2015-2016-decline crossing at 1.0994. First support is the 10-day moving average crossing at 1.0541. Second support is the 20-day moving average crossing at 1.0422.
The March Canadian Dollar posted a quiet inside day with a lower close on Monday. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off December's low, the 87% retracement level of the September-December-decline crossing at 82.04 is the next upside target. Closes below the 20-day moving average crossing at 80.39 would confirm that a short-term top has been posted. First resistance is the 75% retracement level of the September-December-decline crossing at 81.41. Second resistance is the 87% retracement level of the September-December-decline crossing at 82.04. First support is the 20-day moving average crossing at 80.39. Second support is the 50-day moving average crossing at 79.19.
The March Japanese Yen closed lower on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday’s night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off December's low, the 87% retracement level of the September-November-decline crossing at 0.9288 is the next upside target. Closes below the 20-day moving average crossing at 0.9024 would confirm that a short-term top has been posted. First resistance is last Friday's high crossing at 0.9260. Second resistance is the 87% retracement level of the September-November-decline crossing at 0.9288. First support is the 10-day moving average crossing at 0.9108. Second support is the 20-day moving average crossing at 0.9024.
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February gold closed lower due to profit taking on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 1329.50 are needed to confirm that a short-term top has been posted. If February extends the rally off December's low, September's high crossing at 1365.80 is the next upside target. First resistance is last Thursday's high crossing at 1365.40. Second resistance is September's high crossing at 1365.80. First support is the 10-day moving average crossing at 1339.30. Second support is the 20-day moving average crossing at 1329.50.
March silver closed lower on Monday. The low-range close set the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the 50-day moving average crossing at 16.754 are needed to confirm that a short-term top has been posted. If March extends the rally off December's low, the 87% retracement level of the September-November-decline crossing at 18.015 is the next upside target. First resistance is the 75% retracement level of the September-December-decline crossing at 17.686. Second resistance is the 87% retracement level of the September-November-decline crossing at 18.015. First support is the 20-day moving average crossing at 17.149. Second support is the 50-day moving average crossing at 16.754.
March copper closed slightly lower on Monday.The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 322.00 would confirm that a short-term low has been posted. If March resumes this month's decline, the 62% retracement level of December's rally crossing at 308.61 is the next downside target. First resistance is the 20-day moving average crossing at 322.00. Second resistance is December's high crossing at 332.20. First support is the 62% retracement level of December's rally crossing at 308.61. Second support is the 75% retracement level of December's rally crossing at 303.58.
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March Corn closed up 2-cent at 3.58 1/2.
March corn closed higher on Monday as it extends the rally off January's low. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are becoming overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the aforementioned rally, December's high crossing at 3.60 1/2 is the next upside target. Closes below the 20-day moving average crossing at 3.51 1/4 would temper the near-term friendly outlook. First resistance is December's high crossing at 3.60 1/2. Second resistance is last October's high crossing at 3.69 1/4. First support is January's low crossing at 3.45 1/2. Second support is weekly support crossing at 3.32.
March wheat closed up 8-cents at 4.49.
March wheat closed higher on Monday as it extends the rally off December's low.The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the aforementioned rally, the reaction high crossing at 4.60 3/4 is the next upside target. Closes below the 50-day moving average crossing at 4.28 3/4 would temper the near-term friendly outlook. First resistance is today's high crossing at 4.49 3/4. Second resistance is the reaction high crossing at 4.60 3/4. First support is January's low crossing at 4.13 1/4. Second support is December's low crossing at 4.10 1/2.
March Kansas City Wheat closed up 10-cents at 4.53.
March Kansas City wheat closed higher on Monday as it renewed the rally off December's low. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Today's close above the reaction high crossing at 4.43 confirms that the short-term trend has turned higher. If March extends the rally off December's high, the 25% retracement level of 2017's decline crossing at 4.61 1/2 is the next upside target. Closes below the 50-day moving average crossing at 4.29 1/4 would confirm that a short-term top has been posted. First resistance is today's high crossing at 4.53. Second resistance is the 25% retracement level of 2017's decline crossing at 4.61 1/2. First support is January's low crossing at 4.20 1/2. Second support is December's low crossing at 4.10 1/2.
March Minneapolis wheat closed down 3/4-cents at 6.13 3/4.
March Minneapolis wheat closed fractionally lower on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 6.21 are needed to confirm that a low has been posted. If March extends this month's decline, the 87% retracement level of the April-July-rally crossing at 5.89 1/2 is the next downside target. First resistance is January's high crossing at 6.34 1/2. Second resistance is the reaction high resistance crossing at 6.51. First support is last Tuesday's low crossing at 6.04 1/4. Second support is the 87% retracement level of the April-July-rally crossing at 5.89 1/2.
SOYBEAN COMPLEX? http://quotes.ino.com/ex?changes/?c=grains "
March soybeans closed up 5 3/4-cents at 9.91 1/4.
March soybeans closed higher on Monday. The mid-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are overbought and are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 9.72 would temper the near-term friendly outlook. If March extends the rally off January's low, the 75% retracement level of the December-January-decline crossing at 10.06 1/4 is the next upside target. First resistance is the 62% retracement level of the December-January-decline crossing at 9.95 1/2. Second resistance is the 75% retracement level of the December-January-decline crossing at 10.06 1/4. First support is the 10-day moving average crossing at 9.81. Second support is the 20-day moving average crossing at 9.72.
March soybean meal closed up $1.30 at 337.00.
March soybean meal closed higher on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI have turned neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 325.90 would confirm that a short-term top has been posted. If March extends the rally off January's low, December's high crossing at 351.20 is the next upside target. First resistance is last Thursday's high crossing at 348.50. Second resistance is December's high crossing at 351.20. First support is the 10-day moving average crossing at 333.70. Second support is the 20-day moving average crossing at 325.90.
March soybean oil closed up 7 pts. At 32.86.
March soybean oil closed higher on Monday. The mid-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 33.03 would confirm that a short-term low has been posted. If March renews this month's decline, last June's low crossing at 31.85 is the next downside target. First resistance is the 20-day moving average crossing at 33.03. Second resistance is the 50-day moving average crossing at 33.47. First support is January's low crossing at 32.10. Second support is last June's low crossing at 31.85.
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April hogs closed down $0.38 at $73.43.
April hogs closed lower on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday's session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below today's low crossing at 73.30 would confirm a downside breakout of the August-December uptrend line thereby signaling that an intermediate trend change has taken place while opening the door for additional weakness near-term. If April extends the rally off December's low, weekly resistance crossing at 80.26 is the next upside target. First resistance is January's high crossing at 77.25. Second resistance is weekly resistance crossing at 80.26. First support is trendline support crossing near 73.30. Second support is the 38% retracement level of the August-December-rally crossing at 72.58.
April cattle closed up $0.38 at 125.00.
April cattle closed higher on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish hinting that a short-term top might be in or is near. If April extends the rally off January's low, the reaction high crossing at 127.38 is the next upside target. Closes below the 20-day moving average crossing at 122.35 would confirm that a short-term top has been posted. First resistance is last Thursday's high crossing at 126.30. Second resistance is the reaction high crossing at 127.38. First support is the 20-day moving average crossing at 122.35. Second support is January's low crossing at 118.05.
March Feeder cattle closed up $0.28 at $147.00.
March Feeder cattle closed higher on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday's session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off December's low, the reaction high crossing at 154.05 is the next upside target. Closes below last Thursday's low crossing at 142.42 would confirm that a short-term top has been posted. First resistance is the reaction high crossing at 154.05. Second resistance is the reaction high crossing at 156.13. First support is last Thursday's low crossing at 142.42. Second support is January's low crossing at 140.13.
FOOD & FIBERhttp://quotes.ino.com/ex changes/?c=food
March coffee closed lower on Monday. The mid-range close sets the stage for a steady opening on Tuesday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Multiple closes above the 50-day moving average crossing at 12.48 are needed to confirms that a short-term low has been posted. If March renews this month's decline, December's low crossing at 11.83 is the next downside target.
March cocoa closed lower on Monday. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are turning neutral to bearish signaling that a short-term top might be in or is near. Multiple closes above the reaction high crossing at 20.11 are needed to renew the rally off December's low. Closes below the 20-day moving average crossing at 19.32 would confirm that a short-term top has been posted.
March sugar closed sharply higher on Monday as it extends the rebound off January's low. The high-range close set the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 14.09 would confirm that a short-term low has been posted. If March renews this month's decline, the September-2015 low crossing at 12.72 is the next downside target.
March cotton closed sharply lower for the third day in a row on Monday. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Today's close below the 20-day moving average crossing at 80.51 confirms a short-term top has been posted. If March extends this month's decline, the 50-day moving average crossing at 76.37 is the next downside target. Closes above the 10-day moving average crossing at 81.83 would confirm that a short-term low has been posted.