INO Evening Market Comments
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Started by tallpine - Jan. 10, 2020, 4:51 p.m.

KEY EVENTS TO WATCH FOR:



Monday, January 13, 2020 



10:00 AM ET. December Employment Trends Index



                       ETI (previous 110.18)



                       ETI, Y/Y%



Tuesday, January 14, 2020  



6:00 AM ET. December NFIB Index of Small Business Optimism



                       Small Business Idx (previous 104.7)



7:45 AM ET. The Retail Economist/Goldman Sachs Weekly Chain Store Sales Index



                       Chain Store Sales, W/W% (previous -0.8%)



                       Chain Store Sales, M/M% (previous +3.5%)



8:30 AM ET. December Real Earnings



8:30 AM ET. December CPI



                       CPI, M/M% (previous +0.3%)



                       Core CPI, M/M% (previous +0.2%)



                       Energy Idx, M/M% (previous +0.8%)



                       Food Idx, M/M% (previous +0.1%)



                       Real Avg Wkly Pay-Infla Adj, M/M% (previous +0%)



                       CPI, Y/Y% (previous +2.1%)



                       Core Annual, Y/Y% (previous +2.3%)



8:55 AM ET. Johnson Redbook Retail Sales Index



                       Ret Sales Mo-to-Date, M/M% (previous -2.6%)



                       Ret Sales Mo-to-Date, Y/Y% (previous +6.1%)



                       Latest Wk, Y/Y% (previous +7.2%)



9:00 AM ET. SEC Asset Management Advisory Committee Meeting



10:00 AM ET. January IBD/TIPP Economic Optimism Index



                       Economic Optimism Idx (previous 57.0)



                       6-Mo Economic Outlook (previous 53.0)



4:30 PM ET. API Weekly Statistical Bulletin



                       Crude Stocks, Net Chg (Bbls) (previous -5.9M)



                       Gasoline Stocks, Net Chg (Bbls) (previous +6.7M)



                       Distillate Stocks, Net Chg (Bbls) (previous +6.4M)



Wednesday, January 15, 2020 



7:00 AM ET. MBA Weekly Mortgage Applications Survey



                       Composite Idx (previous 415.4)



                       Composite Idx, W/W% (previous +13.5%)



                       Purchase Idx-SA (previous 255.6)



                       Purchase Idx-SA, W/W% (previous +3.0%)



                       Refinance Idx (previous 1375.0)



                       Refinance Idx, W/W% (previous -26.0%)



8:30 AM ET. January Empire State Manufacturing Survey



                       Mfg Idx (previous 3.5)



                       Employment Idx (previous 10.4)



                       New Orders Idx (previous 2.6)



                       Prices Received (previous 4.3)



8:30 AM ET. December PPI



                       PPI, M/M% (previous +0%)



                       Ex-Food & Energy PPI, M/M% (previous -0.2%)



                       Personal Consumption (previous +0%)



10:00 AM ET. December Online Help Wanted Index



10:30 AM ET. EIA Weekly Petroleum Status Report



                       Crude Oil Stocks (Bbl) (previous 431.06M)



                       Crude Oil Stocks, Net Chg (Bbl) (previous +1.164M)



                       Gasoline Stocks (Bbl) (previous 251.609M)



                       Gasoline Stocks, Net Chg (Bbl) (previous +9.137M)



                       Distillate Stocks (Bbl) (previous 139.05M)



                       Distillate Stocks, Net Chg (Bbl) (previous +5.33M)



                       Refinery Usage (previous 93.0%)



                       Total Prod Supplied (Bbl/day) (previous 19.351M)



                       Total Prod Supplied, Net Chg (Bbl/day) (previous -0.571M)



2:00 PM ET. U.S. Federal Reserve Beige Book



Thursday, January 16, 2020 



8:30 AM ET. January Philadelphia Fed Business Outlook Survey



                       Business Activity (previous 0.3)



                       Prices Paid (previous 19.0)



                       Employment (previous 17.8)



                       New Orders (previous 9.4)



                       Prices Received (previous 11.9)



                       Delivery Times (previous 10.6)



                       Inventories (previous 6.1)



                       Shipments (previous 15.9)



8:30 AM ET. December Advance Monthly Sales for Retail & Food Services



                       Overall Sales-SA, M/M% (previous +0.2%)



                       Sales, Ex-Auto, M/M% (previous +0.1%)



                       Sales, Ex-Auto & Gas, M/M% (previous +0%)



8:30 AM ET. Unemployment Insurance Weekly Claims Report - Initial Claims



                       Jobless Claims (previous 214K)



                       Jobless Claims, Net Chg (previous -9K)



                       Continuing Claims (previous 1803000)



                       Continuing Claims, Net Chg (previous +75K)



8:30 AM ET. December Import & Export Price Indexes



                       Import Prices (previous +0.2%)



                       Non-Petroleum Prices (previous +0.2%)



                       Petroleum Prices (previous +1.1%)



8:30 AM ET. U.S. Weekly Export Sales



                       Corn (Metric Tons)



                       Soybeans (Metric Tons)



                       Wheat (Metric Tons)



9:45 AM ET. Bloomberg Consumer Comfort Index



10:00 AM ET. January NAHB Housing Market Index



                       Housing Mkt Idx (previous 76)



10:00 AM ET. November Manufacturing & Trade: Inventories & Sales



                       Total Inventories (previous +0.2%)



10:00 AM ET. ABA Economic Advisory Committee economic forecast



10:30 AM ET. EIA Weekly Natural Gas Storage Report



                       Working Gas In Storage (Cbf) (previous 3148B)



                       Working Gas In Storage, Net Chg (Cbf) (previous -44B)

                       

4:00 PM ET. November Treasury International Capital Data



4:30 PM ET. Federal Discount Window Borrowings



4:30 PM ET. Foreign Central Bank Holdings



4:30 PM ET. Money Stock Measures



  N/A              World Economic Situation and Prospects report



Friday, January 17, 2020  



8:30 AM ET. December New Residential Construction - Housing Starts and Building Permits



                       Total Starts (previous 1.365M)



                       Housing Starts, M/M% (previous +3.2%)



                       Building Permits (previous 1.482M)



                       Building Permits, M/M% (previous +1.4%)



9:15 AM ET. December Industrial Production & Capacity Utilization



                       Industrial Production, M/M% (previous +1.1%)



                       Capacity Utilization % (previous 77.3%)



                       Capacity Utilization, Net Chg (Pts) (previous +0.7)



10:00 AM ET. November Job Openings & Labor Turnover Survey



10:00 AM ET. January University of Michigan Survey of Consumers - preliminary data



                       Mid-Mo Sentiment (previous 99.2)



                       Mid-Mo Expectations (previous 88.9)



                       Mid-Mo Current Idx (previous 115.2)


The STOCK INDEXES? http://quotes.ino.com/ex?changes/?c=indexes ""



The March NASDAQ 100 closed lower due to profit taking on Friday as it consolidates some of this week's rally. The low-range close sets the stage for a steady to lower opening when Monday'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 last-year's rally, upside targets will be hard to project. Closes below the 20-day moving average crossing at 8757.33 would temper the near-term friendly outlook. First resistance is today's high crossing at 9055.50. Second resistance is unknown. First support is the 20-day moving average crossing at 8757.33. Second support is the 50-day moving average crossing at 8491.08.   



The March S&P 500 closed lower due to profit taking on Friday as it consolidated some of this week's rally. The low-range close sets the stage for a steady to lower opening when Monday'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 3227.35 would confirm that a short-term top has been posted. First resistance is today's high crossing at 3286.10. Second resistance is unknown. First support is the 20-day moving average crossing at 3227.35. Second support is the 50-day moving average crossing at 3155.49.  



The Dow closed lower on Friday following a report by the U.S. Labor Department, which showed job and wage growth was weaker than expected in December, though the Dow briefly rose to hit the 29,000 level for the first time during the session. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are diverging but are neutral to bullish signaling that sideways to higher prices are possible near-term. If the Dow extends last-year's rally into uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average crossing at 28,525.68 would confirm that a short-term top has been posted. First resistance is today's high crossing at 29,009.07. Second resistance is unknown. First support is the 20-day moving average crossing at 28,525.68. Second support is the 50-day moving averagecrossing at 28,060.39.  



INTEREST RATES? http://quotes.ino.com/ex?changes/?c=interest ""



March T-bonds closed up 30/32's at 157-24.



March T-bonds closed higher on Friday leaving Wednesday's key reversal down unconfirmed. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If March resumes the rally off January's low, December's high crossing at 160-12 is the next upside target. If March extends Wednesday's decline, January's low crossing at 155-05 is the next downside target. First resistance is Wednesday's high crossing at 159-19. Second resistance is December's high crossing at 160-12. First support is January's low crossing at 155-05. Second support is November's low crossing at 155-00. 



March T-notes closed up 70-pts. At 129.035.



March T-notes closed higher on Friday as it consolidated some of Wednesday's decline. The high-range close sets the stage for a steady to higher opening when Monday'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 20-day moving average crossing at 128.203 are needed to confirm that a short-term top has been posted. If March renews the rally off December's low, November's high crossing at 130.175 is the next upside target. First resistance is Wednesday's high crossing at 130.060. Second resistance is November's high crossing at 130.175. First support is December's low crossing at 127.290. Second support is July's low crossing at 127.090.       



ENERGY MARKETS? http://quotes.ino.com/ex?changes/?c=energy ""



February crude oil closed lower on Friday as it extends the decline off Wednesday's high. The low-range close sets the stage for a steady to lower opening when Monday's night session begins. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at 58.63 would open the door for a possible test of the November 29th low crossing at 55.01 later this winter. Closes above the 10-day moving average crossing at 61.29 would temper the near-term bearish outlook. First resistance is the 75% retracement level of the 2018 decline crossing at 65.62. Second resistance is the 87% retracement level of the 2018 decline crossing at 68.84. First support is the 50-day moving average crossing at 58.63. Second support is the November 29th low crossing at 55.01.  



February heating oil closed lower on Friday and below the 50-day moving average crossing at 195.30 confirming that a short-term top has been posted. The low-range close sets the stage for a steady to lower opening when Monday's night trading session begins. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If February extends this week's decline, December's low crossing at 186.68 is the next downside target. Closes above the 20-day moving average crossing at 201.32 would temper the near-term bearish outlook.First resistance is Wednesday's high crossing at 211.95. Second resistance is last-May's high crossing at 214.32. First support is today's low crossing at 192.62. Second support is December's low crossing at 186.68.



February unleaded gas closed slightly higher on Friday as it consolidated some of this week's decline. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are becoming oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If February extends this week's decline, December's low crossing at 156.22 is the next downside target. Closes above the 10-day moving average crossing at 170.53 would temper the near-term bearish outlook. First resistance is Wednesday's high crossing at 180.11. Second resistance is the 75% retracement level of 2018's decline crossing at 188.45. First support is the December 11th low crossing at 161.50. Second support is December's low crossing at 156.22.



February Henry natural gas closed higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI have turned neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 2.223 are needed to confirm that a short-term low has been posted. If February resumes the decline off November's high, weekly support crossing at 2.029 is the next downside target. First resistance is the 20-day moving average crossing at 2.223. Second resistance is the December 16th high crossing at 2.351. First support is last-Friday's low crossing at 2.062. Second support is weekly support crossing at 2.029.        



CURRENCIES? http://quotes.ino.com/ex?changes/?c=currencies ""



The March Dollar closed lower on Friday as it consolidated some of the rally off December's low. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI remain neutral to bullish signaling that sideways to higher prices are possible near-term. Multiple closes above the 50-day moving average crossing at 97.15 would open the door for a larger-degree rally near-term. Closes below the 10-day moving average crossing at 96.65 would temper the near-term friendly outlook. First resistance is the December 23rd high crossing at 97.41. Second resistance is November's high crossing at 98.05. First support is the 10-day moving average crossing at 96.65. Second support is December's low crossing at 96.02.



The March Euro closed higher due to short covering on Friday but remain below the 50-day moving average crossing at 111.69. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off December's high, the December 6th low crossing at 111.12 is the next downside target. Closes above the 10-day moving average crossing at 112.09 would temper the near-term bearish outlook. First resistance is December's high crossing at 112.93. Second resistance is August's high crossing at 114.20. First support is the December 6th low crossing at 111.12. Second support is November's low crossing at 110.61.



The March British Pound closed slightly lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday'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 March extends this week's decline, December's low crossing at 1.2940 is the next downside target. If March renews the rally off December's low, December's high crossing at 1.3548 is the next upside target. First resistance is December's high crossing at 1.3548. Second resistance is the 62% retracement level of the April-September decline crossing at 1.3748. First support is the November 22nd low crossing at 1.2870. Second support is November's low crossing at 1.2830.



The March Swiss Franc closed slightly higher on Friday.The high-range close sets the stage for a steady to higher opening when Monday'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 20-day moving average crossing at 1.0301 would confirm that a short-term top has been posted. If March renews the rally off November's low, the 87% retracement level of the March-September-rally crossing at 1.0461 is the next upside target.First resistance is December's high crossing at 1.0420. Second resistance is the 87% retracement level of the March-September-rally crossing at 1.0461. First support is the 20-day moving average crossing at 1.0301. Second support is the 50-day moving average crossing at 1.0227.



The March Canadian Dollar closed lower on Friday as it extended this week's decline. The low-range close sets the stage for a steady to lower opening when Monday'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 20-day moving average crossing at 76.45 are needed to confirm that a short-term top has been posted. If March renews the rally off November's low, the October 2018 high crossing at 78.84 is the next upside target. First resistance is December's high crossing at 77.23. Second resistance is the October 2018 high crossing at 78.84. First support is the 20-day moving average crossing at 76.45. Second support is the 50-day moving average crossing at 75.95. 



The March Japanese Yen closed unchanged on Friday as it consolidated some of this week's decline. The high-range close sets the stage for a steady to higher opening when Monday’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 week's decline, last-April's low crossing at 0.0913 is the next downside target. Closes above the 50-day moving average crossing at 0.0924 would temper the near-term bearish outlook. First resistance is November's high crossing at 0.0934. Second resistance is October's high crossing at 0.0948. First support is December's low crossing 0.0916. Second support is April's low crossing at 0.0913.  



PRECIOUS METALS? http://quotes.ino.com/ex?changes/?c=metals ""



February gold closed higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday'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 below the 10-day moving average crossing at $1545.60 would confirm that a short-term top has been posted. If February renews the rally off November's low, monthly resistance crossing at $1616.50 is the next upside target. First resistance is Wednesday's high crossing at $1613.30. Second resistance is monthly resistance crossing at $1616.50. First support is the 10-day morning crossing at $1545.60. Second support is the 20-day moving average at $1516.30.



March silver closed higher on Friday as it consolidated some week's decline. The high-range close set the stage for a steady to higher opening when Monday'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 17.679 would confirm that a short-term top has been posted. If March extends the rally off December's low, the September 24th high crossing at 18.930 is the next upside target. First resistance is Wednesday's high crossing at 18.895. Second resistance is the September 24th high crossing at 18.930. First support is the 20-day moving average crossing at 17.679. Second support is the 50-day moving average crossing at 17.412.



March copper closed higher on Friday.The mid-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. If March resumes the rally off September's low, the 75% retracement level of the April-September-decline crossing at 289.45 is the next upside target. If March renews the decline off December's high, the 50-day moving average crossing at 273.13 is the next downside target. First resistance is December's high crossing at 285.65. Second resistance is the 75% retracement level of the April-September-decline crossing at 289.45. First support is the 50-day moving average crossing at 273.13. Second support is December's low crossing at 262.05. 



GRAINS? http://quotes.ino.com/ex?changes/?c=grains "



March Corn closed up $0.03 1/4-cent at 3.86 1/2. 



March corn posted an upside reversal and closed higher on Friday. Today's USDA report estimated the 2019 corn crop at 13.692 billion bushels. The average yields of 168.0 bushels per acre with a harvest acreage of 81.5 million acres. Pre-report trade estimate was 13.513 billion bushels with a yield of 166.2 bushels per acre and 81.350 million harvested acres. The high-range close sets the stage for a steady to higher opening when Monday's night sessions begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above last-Monday's high crossing at $3.92 are needed to renew the rally off December's low while opening the door for a possible test of November's high crossing at $4.00. If March extends this week's decline, December's low crossing at $3.71 is the next downside target. First resistance is last-Monday's high crossing at $3.92. Second resistance is November's high crossing at $4.00. First support is today's low crossing at $3.76 1/2. Second support is December's low crossing at $3.71.   



March wheat closed up $0.01 3/4-cents at $5.64.  



March wheat closed higher on Friday. The USDA's estimate for wheat ending stocks came in at 965 million bushels, versus an average trade estimate of 1.000 billion bushels. World ending stocks were estimated at 10.584 billion bushels. U.S. wheat storage fell 9% from a year ago, to 1.83 billion bushels. Off-farm stocks account for more than 70% of that total, at 1.31 billion bushels. The high-range close sets the stage for a steady to higher opening when Monday'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 September's low, last-June's high crossing at $5.73 1/2 is the next upside target. Closes below the 20-day moving average crossing at $5.50 are needed to confirm that a short-term top has been posted. First resistance is today's high crossing at 5.68 1/2. Second resistance is June's high crossing at $5.73 1/2. First support is the 20-day moving average crossing at $5.50. Second support is the 50-day moving average crossing at $5.32 1/4.      



March Kansas City Wheat closed up $0.04 1/2-cents at $4.94 3/4.

 

March Kansas City wheat closed higher on Friday as it posted its highest close since last-July. The high-range close sets the stage for a steady to higher opening when Monday night session begins trading. Stochastics and the RSI are diverging but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March resumes the rally off September's low, the 75% retracement level of the June-September-decline crossing at $5.08 is the next upside target. Closes below the 20-day moving average crossing at $4.70 1/2 are needed to confirm that a short-term top has been posted. First resistance is today's high crossing at $4.98 1/4. Second resistance is the 75% retracement level of the June-September-decline crossing at $5.08. First support is the 20-day moving average crossing at $4.70 1/2. Second support is the 50-day moving average crossing at $4.49.   



March Minneapolis wheat closed up $0.06 1/4-cents at $5.58 1/4. 



March Minneapolis wheat closed higher on Friday as it extends the rebound off Wednesday's high. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If March resumes the rally off November's low, October's high crossing at $5.71 1/4 is the next upside target. Closes below the 20-day moving average crossing at $5.44 3/4 would confirm that a short-term top has been posted. First resistance is the 87% retracement level of the October-December-decline crossing at $5.62 3/4. Second resistance is October's high crossing at $5.71 1/4. First support is Wednesday's low crossing at $5.42 1/4. Second support is the 50-day moving average crossing at 5.31 3/4.      



SOYBEAN COMPLEX? http://quotes.ino.com/ex?changes/?c=grains "



March soybeans closed up $0.02 1/4-cents at $9.45 3/4.



March soybeans closed higher on Friday. The USDA’s estimated for the 2019 soybean crop at 3.558 billion bushels with an average yield of 47.4 bpa on 75.0 million harvested acres. The USDA’s soybean ending stock estimates came in at 475 million bushels, which was higher than trade estimates of 424 million bushels. The low-range close sets the stage for a steady to lower opening when Monday'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 20-day moving average crossing at $9.41 1/4 would confirm that a short-term top has been posted while opening the door for additional gains near-term. If March renews the rally off December's low, October's high crossing at $9.70 is the next upside target. First resistance is the 87% retracement level of the October-December-decline crossing at $9.58 1/2. Second resistance is October's high crossing at 9.70. First support is the 20-day moving average crossing at $9.41 1/4. Second support is the 50-day moving average crossing at $9.28 1/2.    



March soybean meal closed up $2.80 at $303.60. 



March soybean meal closed higher on Friday while extending December's trading range. The high-range close sets the stage for a steady to higher opening when Monday'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 December 18th high crossing at $307.90 are needed to renew the rally off December's low. If March extends Thursday's decline, the December 12th low crossing at $297.40 is the next downside target. First resistance is the December 18th high crossing at $307.90. Second resistance is November's high crossing at $312.70. First support is the December 12th low crossing at $297.40. Second support is December's low crossing at $296.20.    



March soybean oil closed down 26-pts. at 34.38. 



March soybean oil closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday'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 20-day moving average crossing at 34.30 would confirm that a short-term top has been posted. If March resumes the rally off December's low, monthly resistance crossing at 35.79 is the next upside target. First resistance is last-Thursday's high crossing at 35.67. Second resistance is monthly resistance crossing at 35.79. First support is 20-day moving average crossing at 34.30. Second support is the 50-day moving average crossing at 32.53.        

 

LIVESTOCKhttp://quotes.ino.com/exchanges/?c=livestock 



February hogs closed up $0.25 at $67.25. 



February hogs closed higher on Friday as it consolidated some of the decline off January's high. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If February extends the aforementioned decline, December's low crossing at $65.40 is the next downside target. Closes above the 50-day moving average crossing at $70.09 would temper the near-term bearish outlook. First resistance is the 50% retracement level of the October-December-decline crossing at $72.43. Second resistance is the 62% retracement level of the October-December-decline crossing at 74.10. First support is Thursday's low crossing at $66.47. Second support is December's low crossing at $65.40.   



February cattle closed up $0.70 at $127.43. 



February cattle closed higher on Friday. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If February extended the rally off September's low, weekly resistance crossing at $130.45 is the next upside target. Multiple closes below the 50-day moving average crossing at $125.46 would confirm that a short-term top has been posted. First resistance is December's high crossing at $127.90. Second resistance is weekly resistance crossing at $130.45. First support is the 50-day moving average crossing at $125.46. Second support is the reaction low crossing at $123.30.   

 

March Feeder cattle closed up $0.90-cents at $147.45. 



March Feeder cattle closed higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday's 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 week's rally, the 75% retracement level of 2018's decline crossing at $149.81 is the next upside target. Closes below January's low crossing at $141.33 would confirm that a short-term top has been posted. First resistance is today's high crossing at $147.75. Second resistance is the 75% retracement level of the 2018 April-September decline crossing at $149.81. First support is January's low crossing at $141.33. Second support is November's low crossing at $138.62.       



FOOD & FIBERhttp://quotes.ino.com/ex changes/?c=food 



March coffee closed higher on Friday as it consolidates some of the decline off December's high. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI 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, the 62% retracement level of the October-December-rally crossing at 11.35 is the next downside target. Closes above the 20-day moving average crossing at 12.81 would confirm that a low has been posted.



March cocoa closed higher on Friday as it renewed the rally off December's low. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the aforementioned rally, December's high crossing at 26.55 is the next upside target. Closes below the 20-day moving average crossing at 24.99 would confirm that a short-term top has been posted.        



March sugar closed sharply higher on Friday as it extended the rally off September's low. The high-range close set the stage for a steady to higher opening on Monday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off October's low, last-April's high crossing at 14.20 is the next upside target. Closes below the 50-day moving average crossing at 13.07 are needed to confirm that a top has been posted. 



March cotton closed higher on Friday as it extends the rally off last-August's low. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are overbought but are neutral to bullish signaling that additional gains are possible near-term. If March extends the rally off August's low, the 62% retracement level of the 2018-2019-decline crossing at 74.04 is the next upside target. Closes below the 20-day moving average crossing at 68.67 are needed to confirm that a short-term top has been posted.       



Comments
By metmike - Jan. 12, 2020, 9:27 p.m.
Like Reply

Thanks tallpine!


Weather in Argentina and S.Brazil turning bullish for beans.

https://www.marketforum.com/forum/topic/45281/

Some rains the next  5 days, maybe 60-70% coverage of 1 inch rains?

Then almost no rains during the 5-16 day period..........so moisture stress will be increasing!


The low early this Sunday evening for SH was the high from Friday........almost a gap higher.

USDA crop report Jan 10, 2020            

                            7 responses |                

                Started by metmike - Jan. 10, 2020, 12:41 p.m.            

https://www.marketforum.com/forum/topic/45656/


Turning colder later this month,..potentially bullish for ng, though the last 2 model runs on Sunday were milder and have established an early bearish tilt to trading.

https://www.marketforum.com/forum/topic/45380/