KEY EVENTS TO WATCH FOR:
Monday, September 2, 2019
N/A Marianas: Labour Day
N/A U.S. Labor Day. Financial markets closed
N/A U.S.-China trade talks continue early this month
Tuesday, September 3, 2019
9:45 AM ET. August US Manufacturing PMI
PMI, Mfg (previous 50.4)
10:00 AM ET. September IBD/TIPP Economic Optimism Index
Economic Optimism Idx (previous 55.1)
6-Mo Economic Outlook (previous 50.0)
10:00 AM ET. July Construction Spending - Construction Put in Place
New Construction (previous -1.3%)
Residential Construction
10:00 AM ET. August ISM Manufacturing Report on Business
Manufacturing PMI (previous 51.2)
Prices Idx (previous 45.1)
Employment Idx (previous 51.7)
Inventories (previous 49.5)
New Orders Idx (previous 50.8)
Production Idx (previous 50.8)
11:00 AM ET. August Global Manufacturing PMI
PMI, Mfg (previous 49.3)
Wednesday, September 4, 2019
7:00 AM ET. MBA Weekly Mortgage Applications Survey
Composite Idx (previous 576.2)
Composite Idx, W/W% (previous -6.2%)
Purchase Idx-SA (previous 234.1)
Purchase Idx-SA, W/W% (previous -4.0%)
Refinance Idx (previous 2545.6)
Refinance Idx, W/W% (previous -7.6%)
7:45 AM ET. The Retail Economist/Goldman Sachs Weekly Chain Store Sales Index
Chain Store Sales, W/W% (previous +0.9%)
Chain Store Sales, M/M% (previous +1.7%)
8:30 AM ET. July U.S. International Trade in Goods & Services
Trade Balance (USD) (previous -55.15B)
Exports (USD) (previous 206.30B)
Exports, M/M% (previous -2.1%)
Imports (USD) (previous 261.45B)
Imports, M/M% (previous -1.7%)
8:55 AM ET. Johnson Redbook Retail Sales Index
Ret Sales Mo-to-Date, M/M% (previous -1.4%)
Ret Sales Mo-to-Date, Y/Y% (previous +5.0%)
Latest Wk, Y/Y% (previous +5.7%)
9:45 AM ET. August ISM-NY Report on Business
Business Index (previous 43.5)
10:00 AM ET. August Online Help Wanted Index
10:00 AM ET. 2nd Quarter Quarterly Financial Report – Industry
10:00 AM ET. 2nd Quarter Quarterly Financial Report - Retail Trade
2:00 PM ET. U.S. Federal Reserve Beige Book
4:00 PM ET. August Domestic Auto Industry Sales
4:30 PM ET. API Weekly Statistical Bulletin
Crude Stocks, Net Chg (Bbls) (previous -11.1M)
Gasoline Stocks, Net Chg (Bbls) (previous -0.3M)
Distillate Stocks, Net Chg (Bbls) (previous -2.5M)
Thursday, September 5, 2019
7:30 AM ET. August Challenger Job-Cut Report
Job Cuts, M/M% (previous -7.5%)
8:15 AM ET. August ADP National Employment Report
Private Sector Jobs, Net Chg (previous +156000)
8:30 AM ET. Unemployment Insurance Weekly Claims Report - Initial Claims
Jobless Claims (previous 215K)
Jobless Claims, Net Chg (previous +4K)
Continuing Claims (previous 1698000)
Continuing Claims, Net Chg (previous +22K)
8:30 AM ET. 2nd Quarter Revised Productivity & Costs
Non-Farm Productivity (previous +3.4%)
Unit Labor Costs (previous -1.6%)
9:45 AM ET. Bloomberg Consumer Comfort Index
9:45 AM ET. August US Services PMI
PMI, Services (previous 53.0)
10:00 AM ET. July Manufacturers' Shipments, Inventories & Orders (M3)
Total Orders, M/M% (previous +0.6%)
Orders, Ex-Defense, M/M% (previous +1.1%)
Orders, Ex-Transport, M/M% (previous +0.1%)
Durable Goods, M/M% (previous +2.0%)
Durable Goods, M/M% (previous +1.9%)
10:00 AM ET. August ISM Non-Manufacturing Report on Business
Non-Mfg Composite Idx (previous 53.7)
Non-Mfg Business Idx (previous 53.1)
Prices Idx (previous 56.5)
Employment Idx (previous 56.2)
New Orders Idx (previous 54.1)
10:30 AM ET. EIA Weekly Natural Gas Storage Report
Working Gas In Storage (Cbf) (previous 2857B)
Working Gas In Storage, Net Chg (Cbf) (previous +60B)
11:00 AM ET. EIA Weekly Petroleum Status Report
Crude Oil Stocks (Bbl) (previous 427.751M)
Crude Oil Stocks, Net Chg (Bbl) (previous -10.027M)
Gasoline Stocks (Bbl) (previous 231.982M)
Gasoline Stocks, Net Chg (Bbl) (previous -2.09M)
Distillate Stocks (Bbl) (previous 136.06M)
Distillate Stocks, Net Chg (Bbl) (previous -2.063M)
Refinery Usage (previous 95.2%)
Total Prod Supplied (Bbl/day) (previous 22.209M)
Total Prod Supplied, Net Chg (Bbl/day) (previous +1.222M)
11:00 AM ET. August Global Services PMI
PMI, Services (previous 52.5)
11:00 AM ET. SEC Investor Advisory Committee meets via telephone
12:00 PM ET. August Monthly U.S. Retail Chain Store Sales Index
4:30 PM ET. Federal Discount Window Borrowings
4:30 PM ET. Foreign Central Bank Holdings
4:30 PM ET. Money Stock Measures
Friday, September 6, 2019
8:30 AM ET. August U.S. Employment Report
Non-Farm Payrolls (previous +164K)
Unemployment Rate (previous 3.7%)
Avg Hourly Earnings (USD) (previous 27.98)
Avg Hourly Earnings-Net Chg (USD) (previous +0.08)
Avg Hourly Earnings, M/M% (previous +0.29%)
Avg Hourly Earnings, Y/Y% (previous +3.2%)
Overall Workweek (previous 34.3)
Overall Workweek Net Chg (previous -0.1)
Government Payrolls (previous +16K)
Private Payroll (previous +148K)
Participation Rate (previous 63.0%)
Non-Farm Payrolls Bench Net Chg
8:30 AM ET. U.S. Weekly Export Sales
Corn (Metric Tons) (previous 856.5K)
Soybeans (Metric Tons) (previous 448.3K)
Wheat (Metric Tons) (previous 661.7K)
10:00 AM ET. 2nd Quarter Quarterly Services
The STOCK INDEXES? http://quotes.ino.com/ex?changes/?c=indexes ""
The September NASDAQ 100 closed lower on Friday. 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 50-day moving average crossing at 7759.44 would confirm that a short-term low has been posted while opening the door for additional gains near-term. If September renews the decline off last-Thursday's high, the 75% retracement level of the June-July-rally crossing at 7237.04 is the next downside target. First resistance is the 50-day moving average crossing at 7759.44. Second resistance is July's high crossing at 8051.75. First support isthe 75% retracement level of the June-July-rally crossing at 7237.04. Second support is the 87% retracement level of the June-July-rally crossing at 7107.06.
The September S&P 500 closed lower on Friday as it consolidated some of this week's rally ahead of the Labor-Day holiday. 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 50-day moving average crossing at 2946.21 are needed to renew the rally off August's low. Closes below the 20-day moving average crossing at 2892.09 would temper the near-term friendly outlook. First resistance is the 50-day moving average crossing at 2946.21. Second resistance is July's high crossing at 3029.00. First support is the 87% retracement level of the June-July-rally crossing at 2774.78. Second support is June's low crossing at 2337.00.
The Dow closed higher on Friday however, stocks trimmed early gains on the final trading day of August. Equities are on track for the best week since June, but are set to book the first losing month since May as the U.S.-China trade war escalated. 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 neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 26,577.83 are needed to confirm that a short-term low has been posted. If the Dow resumes the decline off July's high, the 87% retracement level of the June-July-rally crossing at 25,034.74 is the next downside target. First resistance is the 50-day moving average crossing at 26,577.83. Second resistance is July's high crossing at 27,398.68. First support is the 75% retracement level of the June-July-rally crossing at 25,362.34. Second support is the 87% retracement level of the June-July-rally crossing at 25,034.74.
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September T-bonds closed up 4/32's at 166-06.
September T-bonds closed higher on Friday. 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 diverging 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 164-04 are needed to confirm that a short-term top has been posted. If September extends the rally off July's low, weekly resistance crossing at 172-04 is the next upside target. First resistance is Wednesday's high crossing at 167-18. Second resistance is weekly resistance crossing at 172-04. First support is the 20-day moving average crossing at 164-04. Second support is the reaction low crossing at 159-23.
September T-notes closed up 35-pts. At 131.020.
September T-notes closed higher on Friday. 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 diverging 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 130.153 would confirm that a short-term top has been posted. If September extends the rally off July's low, weekly resistance crossing at 132.016 is the next upside target. First resistance is Monday's high crossing at 131.195. Second resistance is weekly resistance crossing at 132.016. First support is the 20-day moving average crossing at 130.153. Second support is the 50-day moving average crossing at 128.242.
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October crude oil closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If October renews the decline off July's high, the 75% retracement level of the 2018/2019 rally crossing at 49.99 is the next downside target. If October renews the rally off August's low, the late-July high crossing at 60.93 is the next upside target. First resistance is the reaction high crossing at 57.40. Second resistance is the late-July high crossing at 58.86. First support is August's low crossing at 50.50. Second support is the 75% retracement level of the 2018/2019 rally crossing at 49.99.
October heating oil closed lower on Friday. 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 signaling that sideways to lower prices are possible near-term. If October resumes the decline off July's high, the December-2018 low crossing at 165.77 is the next downside target. Closes above the 50-day moving average crossing at 189.59 are needed to confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 189.59. Second resistance is the late-July high crossing at 198.13. First support is August's low crossing at 175.15. Second support is the December-2018 low crossing at 165.77.
October unleaded gas closed sharply lower on Friday. 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 sideways to lower prices are possible near-term. If October renews the decline off July's high, the December-2018 low crossing at 130.42 is the next downside target. Closes above last-Wednesday's high crossing at 158.34 are needed to confirm that a short-term low has been posted. First resistance is last-Wednesday's high crossing at 158.34. Second resistance is the 50-day moving average crossing at 162.39. First support is August's low crossing at 146.09. Second support is the December-2018 low crossing at 130.42.
October Henry natural gas posted an inside day with a slightly higher close on Friday as it consolidates above the 50-day moving average crossing at 2.250. 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 October extends this week's rally, August's high crossing at 2.338 is the next upside target. If October renews the decline off July's high, weekly support crossing at 1.909 is the next downside target.First resistance is August's high crossing at 2.338. Second resistance is July's high crossing at 2.510. First support is August's low crossing at 2.045. Second support is weekly support crossing at 1.909.
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The September Dollar closed sharply higher on Friday as it renewed this year's rally. 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 September extends today's rally, weekly resistance crossing at 99.90 is the next upside target. Closes below the 20-day moving average crossing at 97.86 would confirm that a short-term top has been posted. First resistance is today's high crossing at 98.97. Second resistance is weekly resistance crossing at 99.90. First support is Monday's low crossing at 97.37. Second support is the 50-day moving averagecrossing at 97.25.
The September Euro closed sharply lower on Friday as it renewed this year's decline. 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 September extends the decline off August's high, weekly support crossing at 109.21 is the next downside target. Closes above the 20-day moving average crossing at 111.49 are needed to confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 112.35. Second resistance is the August high crossing at 112.85. First support is today's low crossing at 109.76. Second support is monthly support crossing at 109.21.
The September British Pound closed lower on Friday. 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 bearish signaling that sideways to lower prices are possible near-term. If September renews the decline off June's high, monthly support crossing at 1.2001 is the next downside target. If September extends the rally off August's low, the 50-day moving average crossing at 1.2381 is the next upside target. First resistance is the 50-day moving average crossing at 1.2381. Second resistance is the reaction high crossing at 1.2615. First support is August's low crossing at 1.2033. Second support is monthly support crossing at 1.2001.
The September Swiss Franc closed lower on Friday as it extends the decline off last-Friday'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 September extends the decline off August's high, August's low crossing at 1.0064 is the next downside target. Closes above the 20-day moving average crossing at 1.0248 would confirm that a short-term low has been posted. First resistance is August's high crossing at 1.0384. Second resistance is June's high crossing at 1.0392. First support is today's low crossing at 1.0096. Second support is the 62% retracement level of the May-June-rally crossing at 1.0089.
The September Canadian Dollar posted a key reversal down as it closed lower on Friday. 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 bearish signaling that sideways to lower prices are possible near-term. If September resumes the decline off July's high, the 75% retracement level of the June-July-rally crossing at 74.68 is the next downside target. Closes above the 20-day moving average crossing at 75.34 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 75.34. Second resistance is the 50-day moving average crossing at 75.92. First support is the 62% retracement level of the June-July-rally crossing at 75.08. Second support is the 75% retracement level of the June-July-rally crossing at 74.68.
The September Japanese Yen closed higher on Friday. 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 bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at 0.0936 would confirm that a short-term top has been posted. If September resumes the rally off August's low, the 62% retracement level of the 2018-2019-decline crossing at 0.0960 is the next upside target. First resistance is the 62% retracement level of the 2018-2019-decline crossing at 0.0960. Second resistance is the 75% retracement level of the 2018-2019-decline crossing at 0.0972. First support is the 50-day moving average crossing 0.0936. Second support is August's low crossing at 0.0918.
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October gold closed lower on Friday.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 diverging and are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 1514.00 would confirm that a short-term top has been posted. If October extends the rally off May's low, the 62% retracement level of the 2011-2015-decline on the weekly continuation chart crossing at 1588.20 is the next upside target. First resistance is Monday's high crossing at 1558.60. Second resistance is the 62% retracement level of the 2011-2015-decline on the weekly continuation chart crossing at 1588.20. First support is the 20-day moving average crossing at 1514.00. Second support is the 50-day moving average crossing at 1460.20.
December silver posted an inside day with a higher close on Friday. The high-range close set the stage for a steady to higher 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 December extends the rally off May's low, the 62% retracement of the 2016-2018 decline crossing at 18.853 is the next upside target. Closes below the 20-day moving average crossing at 17.414 are needed to confirm that a short-term top has been posted. First resistance is Thursday's high crossing at 18.760. Second resistance is the 62% retracement level of the 2016-2018 decline crossing at 18.853. First support is the 10-day moving average crossing at 17.754. Second support is the 20-day moving average crossing at 17.414.
December copper closed lower on Friday. 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 258.13 would temper the near-term bearish outlook. If September renews the decline off July's high, weekly support crossing at 234.12 is the next downside target. First resistance is the 20-day moving average crossing at 258.14. Second resistance is the 50-day moving average crossing at 265.08. First support is Monday's low crossing at 249.10. Second support is weekly support crossing at 234.12.
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December Corn closed down 2 1/4-cents at 3.69.
December corn closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Tuesday's night sessions begins trading. Stochastics and the RSI oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off July's high, May's low crossing at 3.63 3/4 is the next downside target. Closes above the August 13th gap crossing at 3.92 3/4 are needed to confirm that a short-term low has been posted. First resistance is the August 13th gap crossing at 3.92 3/4. Second resistance is the 50-day moving average crossing at 4.14 3/4. First support is Wednesday's low crossing at 3.64 1/4. Second support is May's low crossing at 3.63 3/4.
December wheat closed down 11 1/2-cents at 4.61 1/4.
December wheat closed sharply lower on Friday. 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 sideways to lower prices are possible near-term. If December extends the decline off June's high, May's low crossing at 4.42 1/4 is the next downside target. Closes above the 20-day moving average crossing at 4.78 3/4 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 4.78 3/4. Second resistance is the reaction high crossing at 5.06 1/4. First support is the 87% retracement level of the May-June-rally crossing at 4.58 1/2. Second support is May's low crossing at 4.42 1/4.
December Kansas City Wheat closed down 4 1/4-cents at 3.97 1/4.
December Kansas City wheat closed lower on Friday and below trading range support crossing at 3.97 1/2. The low-range close sets the stage for a steady to lower opening when Tuesday 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 December extends the decline off June's high, weekly support crossing at 3.82 is the next downside target. Multiple closes above the 20-day moving average crossing at 4.11 3/4 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 4.11 3/4. Second resistance is the 50-day moving average crossing at 4.44. First support is today's low crossing at 3.93 3/4. Second support is weekly support crossing at 3.82.
December Minneapolis wheat closed down 4 3/4-cents at 4.96 3/4.
December Minneapolis wheat closed lower on Friday as it extends this year's decline. 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 December extends the decline off June's high, monthly support crossing at 4.80 1/4 is the next downside target. Closes above the 20-day moving average crossing at 5.17 3/4 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 5.17 3/4. Second resistance is the reaction high crossing at 5.50 1/2. First support is today's low crossing at 4.96 1/4. Second support is monthly support crossing at 4.80 1/4.
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November soybeans closed unchanged at 8.68 1/2.
November soybeans closed unchanged on Friday. 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. Multiple closes above the 50-day moving average crossing at 8.92 1/4 are needed to confirm that a short-term low has been posted. If November renews the decline off June's high, the 75% retracement level of the May-June-rally crossing at 8.48 1/2 is the next downside target. First resistance is the 50-day moving average crossing at 8.92 1/4. Second resistance is the reaction high crossing at 8.96 3/4. First support is the 75% retracement level of the May-June-rally crossing at 8.48 1/2. Second support is the 87% retracement level of the May-June-rally crossing at 8.32 1/2.
December soybean meal closed down $3.00 at 295.00.
December soybean meal closed lower on Friday. 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 sideways to lower prices are possible near-term. Closes above the reaction high crossing at 306.30 would confirm that a short-term low has been posted. If December extends the decline off June's high, May's low crossing at 291.60 is the next downside target. First resistance is the reaction high crossing at 306.30. Second resistance is the 50-day moving average crossing at 308.40. First support is Wednesday's low crossing at 294.40. Second support is May's low crossing at 291.60.
December soybean oil closed up 28-pts at 28.86.
December soybean oil closed higher on Friday. 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 oversold but are turning neutral to bullish signaling that a low might be in or is near. If December extends the decline off August's high, August's low crossing at 27.88 is the next downside target. Closes above the 20-day moving average crossing at 28.97 would temper the near-term bearish outlook. First resistance is August's high crossing at 30.25. Second resistance is the 75% retracement level of the February-May-decline crossing at 30.79. First support is August's low crossing at 27.88. Second support is May's low crossing at crossing at 26.96.
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October hogs closed down $1.38 at $63.53.
October hogs closed lower on Friday. 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. Multiple closes above the 20-day moving average crossing at 64.60 are needed to confirm that a short-term low has been posted. If October extends the decline off July's high, the July-2018 low crossing at 58.20 is the next downside target. First resistance is the 20-day moving average crossing at 64.60. Second resistance is the 50-day moving average crossing at 69.99. First support is last-Friday's low crossing at 59.30. Second support the July-2018 low crossing at 58.20.
October cattle closed down $0.88 at 98.92.
October cattle closed lower on Friday. The low-range close sets the stage for a steady to lower 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 101.46 would confirm that a short-term low has been posted. If October renews the decline off July's high, weekly support crossing at 97.08 is the next downside target. First resistance is the August 13th gap crossing at 103.75. Second resistance is the 50-day moving average crossing at 105.34. First support is August's low crossing at 97.78. Second support is weekly support crossing at 97.08.
October Feeder cattle closed down $1.18 at $130.80.
October Feeder cattle closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Tuesday's session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If October renews the decline off July's high, weekly support crossing at 126.09 is the next downside target. Closes above the 50-day moving average crossing at 137.79 would confirm that a low has been posted. First resistance is the 50-day moving average crossing at 137.79. Second resistance is July's high crossing at 144.43. First support is August's low crossing at 127.32. Second support is weekly support crossing at 126.09.
FOOD & FIBERhttp://quotes.ino.com/ex changes/?c=food
December coffee closed higher on Friday. 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. Closes above the 20-day moving average crossing at 9.77 would confirm that a short-term low has been posted. If September resumes the decline off July's high, weekly support crossing at 8.76 is the next downside target.
December cocoa closed higher on Friday. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are turning bearish signaling sideways to lower prices are possible near-term. If December resumes the decline off July's high, last-October's low crossing at 20.83 is the next downside target. Closes above the 20-day moving average crossing at 22.32 are needed to confirm that a short-term low has been posted and would open the door for additional gains near-term.
October sugar closed lower on Friday. The low-range close set the stage for a steady to lower opening on Monday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If October extends the decline off June's high, weekly support crossing at 10.80 is the next downside target. Closes above the 20-day moving average crossing at 11.50 would confirm that a low has been posted.
December cotton closed lower on Friday. The mid-range close sets the stage for a steady opening on Tuesday. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Multiple closes above the 20-day moving average crossing at 58.96 are needed to confirm that a low has been posted. If December renews this year's decline, monthly support crossing at 54.38 is the next downside target.
Thanks very much Tallpine!
Hurricane Dorian caused a wild ride for the thinly traded OJ market over the last week.
+10c from late last week until early this morning, then losing much of those gains when morning models took the most intense part of the storm slightly farther east and just east of OJ country by around 100 miles or so.
Cold wave early in week 2 doesn't look cold enough for a freeze in the Midwest........bearish grains, though rains may be less than recent rains(its pretty late in the growing season.
Natural Gas weather is also getting late in the cooling season to be huge. Maybe warming up late in week 2 but it will be September and heat is rapidly waning.
In October, cold waves and heating demand will start counting for NG!
Have a Wonderful Labor Day Weekend!