INO Morning Market Commentary
2 responses | 0 likes
Started by tallpine - April 16, 2020, 7:46 a.m.

KEY EVENTS TO WATCH FOR:



Thursday, April 16, 2020  



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



                       Business Activity (expected -30.0; previous -12.7)



                       Prices Paid (previous 4.8)



                       Employment (previous 4.1)



                       New Orders (previous -15.5)



                       Prices Received (previous 6.8)



                       Delivery Times (previous -9.1)



                       Inventories (previous 1.7)



                       Shipments (previous 0.2)



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



                       Total Starts (expected 1.35M; previous 1.599M)



                       Housing Starts, M/M% (expected -15.6%; previous -1.5%)



                       Building Permits (expected 1.25M; previous 1.464M)



                       Building Permits, M/M% (expected -14.6%; previous -5.5%)



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



                       Jobless Claims (expected 5.0M; previous 6.61M)



                       Jobless Claims, Net Chg (previous -261K)



                       Continuing Claims (previous 7455000)



                       Continuing Claims, Net Chg (previous +4396K)



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



                       Corn (Metric Tons) (previous 2457.7K)



                       Soybeans (Metric Tons) (previous 876.9K)



                       Wheat (Metric Tons) (previous 376.1K)



9:45 AM ET. Bloomberg Consumer Comfort Index



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



                       Working Gas In Storage (Cbf) (previous 2024B)



                       Working Gas In Storage, Net Chg (Cbf) (previous +38B)



4:30 PM ET. Money Stock Measures



4:30 PM ET. Foreign Central Bank Holdings



4:30 AM ET. Federal Discount Window Borrowings



  N/A              Emancipation Day in Washington, DC



Friday, April 17, 2020  



10:00 AM ET. March Leading Indicators



                       Leading Index, M/M% (expected -7.2%; previous +0.1%)



                       Leading Index (previous 112.1)



                       Coincident Index, M/M% (previous +0.3%)



                       Lagging Index, M/M% (previous +0.4%)



10:00 AM ET. March Regional & State Employment & Unemployment



Monday, April 20, 2020 



8:30 AM ET. March CFNAI Chicago Fed National Activity Index



                       NAI (previous 0.16)



                       NAI, 3-mo Moving Avg (previous -0.21)



  N/A              Patriot's Day in Massachusetts and Maine



Tuesday, April 21, 2020



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



                       Chain Store Sales, W/W%



                       Chain Store Sales, M/M%



8:55 AM ET. Johnson Redbook Retail Sales Index



                       Ret Sales Mo-to-Date, M/M%



                       Ret Sales Mo-to-Date, Y/Y%



                       Latest Wk, Y/Y%



10:00 AM ET. March Existing Home Sales



                       Existing Sales (previous 5.77M)



                       Existing Sales, M/M% (previous +6.5%)



                       Unsold Homes Month's Supply (previous 3.1)



                       Median Price (USD) (previous 270100)



                       Median Home Price, Y/Y% (previous +8.0%)



4:30 PM ET. API Weekly Statistical Bulletin



                      Crude Stocks, Net Chg (Bbls)



                       Gasoline Stocks, Net Chg (Bbls)



                       Distillate Stocks, Net Chg (Bbls)



Wednesday, April 22, 2020 



7:00 AM ET. MBA Weekly Mortgage Applications Survey



                       Composite Idx



                       Composite Idx, W/W%



                       Purchase Idx-SA



                       Purchase Idx-SA, W/W%



                       Refinance Idx



                       Refinance Idx, W/W%



9:00 AM ET. February U.S. Monthly House Price Index



10:30 AM ET. EIA Weekly Petroleum Status Report



                       Crude Oil Stocks (Bbl)



                       Crude Oil Stocks, Net Chg (Bbl)



                       Gasoline Stocks (Bbl)



                       Gasoline Stocks, Net Chg (Bbl)



                       Distillate Stocks (Bbl)



                       Distillate Stocks, Net Chg (Bbl)



                       Refinery Usage



                       Total Prod Supplied (Bbl/day)



                       Total Prod Supplied, Net Chg (Bbl/day)


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



The STOCK INDEXES:The June NASDAQ 100 were higher in overnight trading and remains poised to extend the rally off March's low. The high-range trade sets the stage for a steady to higher opening when the day 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 June extends the rally off March's low, the 75% retracement level of the February-March-decline crossing at 9003.03. Closes below the 20-day moving average crossing at 7827.00 would confirm that a short-term top has been posted. First resistance is Tuesday's high crossing at 8710.00. Second resistance is the 75% retracement level of the February-March-decline crossing at 9003.03. First support is the 10-day moving average crossing at 8190.80. Second support is the 20-day moving average crossing at 7827.00.



The June S&P 500 was higher in late-overnight trading. The high-range overnight trade sets the stage for a steady to higher opening when the day session begins trading later this morning.Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off March's low, the 50-day moving average crossing at 2860.30 is the next upside target. Closes below the 20-day moving average crossing at 2574.38 would confirm that a short-term top has been posted. First resistance is the 50-day moving average crossing at 2860.30. Second resistance is the 62% retracement level of the February-March-decline crossing at 2924.37. First support is the 10-day moving average crossing at 2696.00. Second support is the 20-day moving average crossing at 2574.38. 



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



INTEREST RATES: June T-bonds were steady to slightly higher overnight. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. If June renews the rally off March's low, the March 12th high crossing at 184-07 is the next upside target. Multiple closes below Tuesday's low crossing at 177-14 have confirmed that a short-term top has been posted while opening the door for additional weakness and a possible test of the 50-day moving average crossing at 172-28 later this month. First resistance is the March 12th high crossing at 184-07. Second resistance is March's high crossing at 191-22. First support is Tuesday's low crossing at 177-14. Second support is the 50-day moving average crossing at 172-28.  



June T-notes were steady to slightly lower overnight as it consolidates some of Wednesday's rally. The low-range overnight trade sets the stage for a steady to lower opening with the day session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 138.041 would confirm that a short-term top has been posted while opening the door for additional weakness near-term. If June resumes the rally off March's low, March's high crossing at 140.240 is the next upside target. First resistance is the April 2nd high crossing at 139.145. Second resistance is March's high crossing at 140.240. First support is the 20-day moving average crossing at 138.041. Second support is the 50-day moving average crossing at 135.159.   



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



May crude oil was steady to slightly higher in overnight trading as it extends the trading range of the past five-weeks.The mid-range overnight trade sets the stage for a steady to higher opening when the day 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 May renews this year's decline, the October-1998 low on the monthly continuation chart crossing at 17.12 is the next downside target. Closes above the April 3rd high crossing at 29.13 are needed to confirm that a short-term low has been posted. First resistance is the April 3rd high crossing at 29.13. Second resistance is the 25% retracement level of the January-March-decline crossing at 30.40. First support is Wednesday's low crossing at 19.20. Second support is the October-1998 low on the monthly continuation chart crossing at 17.12.



May heating oil was higher overnight as it consolidated some of Wednesday's decline that posted a new low for the year. The high-range overnight trade sets the stage for a steady to higher opening when the day 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 May extends this year's decline, the January 2016 low on the weekly continuation chart crossing at 84.87 is the next downside target. Closes above the April 2nd high crossing at 113.84 are needed to confirm that a short-term low has been posted. First resistance is the April 2nd high crossing at 113.84. Second resistance is the 50-day moving average crossing at 129.16. First support is Wednesday's low crossing at 89.76. Second support is weekly support crossing at 84.87.   



May unleaded gas was steady to slightly higher overnight as it extends the trading range of the past five-weeks. The high-range late-overnight trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above last-Friday's high crossing at 76.97 are needed to confirm that a short-term low has been posted while opening the door for additional short covering gains. If May resumes the decline off February's high, monthly support crossing at 32.40 is the next downside target. First resistance is last-Friday's high crossing at 76.97. Second resistance is the 25% retracement level of the January-March-decline crossing at 84.25. First support is March's low crossing at 46.05. Second support is monthly support crossing at 32.40. 



May Henry natural gas was steady to slightly higher overnight as it consolidates some of the decline off last-Wednesday's high. The high-range overnight trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends this week's decline, April's low crossing at 1.521 is the next downside target. If May renews the decline off November's high, weekly support crossing at 1.500 is the next downside target. Closes above the 50-day moving average crossing at 1.802 would signal that a short-term low has been posted. First resistance is last-Wednesday's high crossing at 1.918. Second resistance is March's high crossing at 2.044. First support is the overnight low crossing at 1.580. Second support is April's low crossing at 1.521.    



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



CURRENCIES:The June Dollar was higher due to short covering in late-overnight trading. The mid-range overnight trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 100.41 would confirm that a short-term low has been posted.If June extends the decline off March's high, the 62% retracement level of March's rally crossing at 98.14 is the next downside target. First resistance is the April 6th high crossing at 101.03. Second resistance is March's high crossing at 103.96. First support is the 62% retracement level of March's rally crossing at 98.13. Second support is the 75% retracement level of March's rally crossing at 98.88. 



The June Euro was lower in late-overnight trading. The mid-range overnight trade sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If June renews the decline off the March 27th high crossing at 111.88, March's low crossing at 106.71 is the next downside target. Closes above the 50-day moving average crossing at 110.17 would temper the near-term bearish outlook. First resistance is the March 27th high crossing at 111.88. Second resistance is the March 16th high crossing at 112.78. First support is last-Monday's low crossing at 107.92. Second support is March's low crossing at 106.71.    



The June British Pound was lower overnight as it consolidates some of the rally off March's low.The low-range overnight trade sets the stage for a steady to lower opening when the day session beings 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 1.2235 would confirm that a short-term top has been posted. If June extends the rally off March's low the 62% retracement level of the December-March-decline crossing at 1.2758 is the next upside target. First resistance is the 62% retracement level of the December-March-decline crossing at 1.2758. Second resistance is the 75% retracement level of the December-March-decline crossing at 1.3042. First support is the 20-day moving average crossing at 1.2235. Second support is March's low crossing at 1.1438.



The June Swiss Franc was lower in late-overnight trading. The mid-range overnight trade sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If June renews the decline off the March 30th high, March's low crossing at 1.0138 is the next downside target. If June extends the rally off April's low, the March 30th high crossing at 1.0566 is the next upside target. First resistance is the March 30th high crossing at 1.0566. Second resistance is the March 16th high crossing at 1.0698. First support is April's low crossing at 1.0234. Second is March's low crossing at 1.0138.



The June Canadian Dollar was steady to slightly higher overnight as it consolidates some of Wednesday's decline. 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 70.78 would confirm that a short-term top has been posted. If June resumes the rally off March's low, the 50% retracement level of the January-March-decline crossing at 72.71 is the next upside target.First resistance is the 50% retracement level of the January-March-decline crossing at 72.71. Second resistance is the 50-day moving average crossing at 72.83. First support is the 20-day moving average crossing at 70.78. Second support is the March 31st low crossing at 69.74.  



The June Japanese Yen was lower overnight. The mid-range overnight trade sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are overbought 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 0.0922 would temper the near-term friendly outlook. If June extends the rally off March's low, the 25% retracement level of the January-March-decline crossing at 0.0943 is the next upside target. First resistance is the April 1st high crossing at 0.0938. Second resistance is the 25% retracement level of the January-March-decline crossing at 0.0943. First support is last-Monday's low crossing at 0.0919. Second support is March's low crossing at 0.0900. 



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



PRECIOUS METALS: June gold was higher in late-overnight trading. The high-range overnight trade sets the stage for a steady to higher opening when the day 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 June extends the rally off March's low, the October-2012 high on the monthly continuation chart crossing at $1798.10 is the next upside target. Closes below the 50-day moving average crossing at $1626.40 would confirm that a short-term top has been posted. First resistance is Tuesday's high crossing at $1788.80. Second resistance is the October-2012 high on the monthly continuation chart crossing at $1798.10 is the next upside target. First support is the 10-day moving average crossing at $1711.50. Second support is the 50-day moving average crossing at $1626.40.



July silver was higher overnight as it consolidates below the 62% retracement level of the February-March-decline crossing at $16.252. The high-range overnight trade sets the stage for a steady to higher opening when the day session begins trading later this morning. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If July extends the rally off March's low, the 75% retracement level of the February-March-decline crossing at $17.237 is the next upside target. Closes below the 20-day moving average crossing at $14.705 would confirm that a short-term top has been posted. First resistance is the 62% retracement level of the February-March-decline crossing at $16.252. Second resistance is the 75% retracement level of the February-March-decline crossing at $17.237. First support is the 10-day moving average crossing at $15.503. Second support is the 20-day moving average crossing at $14.705. 



July copper was higher overnight as it consolidates below the 38% retracement level of the January-March decline crossing at 2.3291. The high-range overnight trade sets the stage for a steady to higher opening when the day 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 2.2258 would temper the near-term friendly outlook. If July extends the rally off March's low, the 50% retracement level of the January-March-decline crossing at 2.4380 is the next upside target. First resistance is the 38% retracement level of the January-March decline crossing at 2.3291. Second resistance is the 50% retracement level of the January-March-decline crossing at 2.4380. First support is the 20-day moving average crossing at 2.2158. Second support is March's low crossing at 1.9795. 



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



July corn was steady to fractionally higher overnight as it consolidates some of Wednesday's decline. The mid-range trade sets the stage for a steady to higher opening when the day sessions begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that additional weakness is possible near-term. If July extends the decline off December's high, monthly support crossing at $3.12 is the next downside target. Closes above the 20-day moving average crossing at $3.41 3/4 are needed to confirm that a low has been posted. First resistance is the 20-day moving average crossing at $3.41 3/4. Second resistance is the March 20th high crossing at $3.60 3/4. First support is Wednesday's low crossing at $3.25. Second support is monthly support crossing at $3.12.    



July wheat was higher overnight as it consolidates some of this week's decline. The mid-range trade sets the stage for a steady to higher opening when the day 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 $5.39 3/4 would confirm that a short-term top has been posted. If July resumes the rally off March's low, January's high crossing at $5.89 is the next upside target. First resistance is March's high crossing at $5.71 1/2. Second resistance is January's high crossing at $5.89. First support is the 50-day moving average crossing at $5.39 3/4. Second support is April 2nd low crossing at $5.35.

   

July Kansas City Wheat closed down $0.04-cents at $4.87.

 

July Kansas City wheat closed lower on Wednesday. The high-range close sets the stage for a steady to higher opening when Thursday 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 50-day moving average crossing at $4.74 1/2 are needed to confirm that a short-term top has been posted. If July resumes the rally off March's low, January's high crossing at $5.19 is the next upside target. First resistance is March's high crossing at $5.09 1/4. Second resistance is January's high crossing at $5.19. First support is the 50-day moving average crossing at $4.74 1/2. Second support is the 50% retracement level of March's rally crossing at $4.68 1/4.   



July Minneapolis wheat was higher overnight as it consolidates some of this week's decline. The mid-range overnight trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends this week's decline March's low crossing at $5.13 1/2 is the next downside target. Closes above March's high crossing at $5.51 1/2 are needed to renew the rally off March's low and could lead to a possible test of February's high crossing at $5.58 3/4. First resistance is March's high crossing at $5.51 1/2. Second resistance is February's high crossing at $5.58 3/4. First support is Wednesday's low crossing at $5.24. Second support is March's low crossing at $5.13 1/2.  



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



July soybeans were steady to fractionally higher overnight. The low-range trade sets the stage for a steady to lower opening when the day 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 July extends the decline off the March 25th high, March's low crossing at $8.29 is a potential downside target. Closes above the 50-day moving average crossing at $8.84 1/2 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at $8.84 1/2. Second resistance is the March 25th high crossing at $8.98. First support is Wednesday's low crossing at $8.48 3/4. Second support is March's low crossing at $8.29.    



July soybean meal was higher due to short covering overnight as it consolidates some of the decline off March's high. The high-range trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are oversold and are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at $305.40 would confirm that a short-term low has been posted. If July extends the aforementioned decline, monthly support crossing at $283.10 is the next downside target. First resistance is the 10-day moving average crossing at $298.70. Second resistance is the 50-day moving average crossing at 305.40. First support is Tuesday's low crossing at $291.50. Second support is monthly support crossing at $283.10.    



July soybean oil was lower overnight. The low-range trade sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 26.96 would temper the near-term friendly outlook. If July renews the rally off March's low, the 38% retracement level of the January-March-decline crossing at 29.31 is the next upside target. First resistance is the 25% retracement level of the January-March-decline crossing at 27.82. Second resistance is the 38% retracement level of the January-March-decline crossing at 29.31. First support is the April 2nd low crossing at 26.17. Second support is March's low crossing at 25.02.    



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



June hogs closed up $0.68 at $44.62. 



June hogs closed higher on Wednesday as it consolidates some the decline off March's high. The high-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are oversold, diverging but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends the aforementioned decline, weekly support crossing at $40.70 is the next downside target. Closes above the 20-day moving average crossing at $58.38 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at $49.44. Second resistance is the 20-day moving average crossing at $58.38. First support is Tuesday's low crossing at $41.50. Second support is weekly support crossing at $40.70.   



June cattle closed up $1.03 at $84.83. 



June cattle closed higher on Wednesday. The high-range close sets the stage for a steady to higher opening on Thursday. 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 $87.60 are needed to confirm that a short-term low has been posted. If June resumes this year's decline, monthly support crossing at $69.29 is the next downside target. First resistance is the 20-day moving average crossing at $87.60. Second resistance is the 50-day moving average crossing at $97.71. First support is April's low crossing at $76.60. Second support is monthly support crossing at $69.29.  

 

May Feeder cattle closed up $0.73-cents at $115.58. 



May Feeder cattle closed higher on Wednesday. The high-range close sets the stage for a steady to higher opening when Thursday's session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends this year's decline, monthly support crossing at $95.50 is the next downside target. Closes above last-Wednesday's high crossing at $120.55 would signal that a short-term low has been posted. First resistance is last-Wednesday's high crossing at $120.55. Second resistance is the 50-day moving average crossing at $127.65. First support is last Monday's low crossing at $103.62. Second support is monthly support crossing at $95.50.       



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



May coffee closed higher on Thursday as it extends a two-week old trading range. The mid-range close sets the stage for a steady to higher opening on Thursday. 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 11.23 would renew the decline off March's high. If May renews the rally off March's low, March's high crossing at 13.07 is the next upside target. 



May cocoa closed lower on Wednesday as it extends this year's decline. The low-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If May renews the decline off February's high, the October-2018 low crossing at 21.10 is the next downside target. Closes above the 10-day moving average crossing at 22.97 would temper the near-term bearish outlook.            



May sugar closed higher on Wednesday. The high-range close set the stage for a steady to higher opening on Thursday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends the decline off February's high, monthly support crossing at 9.91 is the next downside target. Closes above the 20-day moving average crossing at 10.61 are needed to temper the near-term bearish outlook.        



July cotton closed slightly lower on Wednesday. The low-range close sets the stage for a steady to lower opening on Thursday. 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 52.26 would temper the near-term friendly outlook. If May extends the rally off March's low, the 50-day moving average crossing at 60.85 is the next upside target.    

Comments
By metmike - April 16, 2020, 2:20 p.m.
Like Reply

Thanks tallpine!

Heavy snow in a narrow band tonight/Fri but not in a big enough area to concern the market......and the forecast dries out and warms up in the northern half of the Cornbelt, which should allow for some corn planting to get underway in the next couple of weeks.


By metmike - April 16, 2020, 2:29 p.m.
Like Reply

Natural gas on the way to an upside reversal!


Spike Low of 1.555 after the mega bearish EIA report that showed a build of +73 BCF, which must be close to a record for this particular week, and closing sharply higher at around 1.685