KEY EVENTS TO WATCH FOR:

Monday, August 17, 2020  

8:30 AM ET. August Empire State Manufacturing Survey

                       Mfg Idx (previous 17.2)

                       Employment Idx (previous 0.4)

                       New Orders Idx (previous 13.9)

                       Prices Received (previous -4.5)

10:00 AM ET. August NAHB Housing Market Index

                       Housing Mkt Idx (previous 72)

4:00 PM ET. June Treasury International Capital Data

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

The Dow 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If the Dow extends this month's rally, February's high crossing at 29,568.57 is the next upside target. Closes below the 50-day moving average crossing at 26,497.68 would confirm that a short-term top has been posted. First resistance is the 87% retracement level of the February-March-decline crossing at 28,090.26. Second resistance is February's high crossing at 29,568.57. First support is the 20-day moving average crossing at 27,034.66. Second support is the 50-day moving average crossing at 26,497.73.  

The September NASDAQ 100 closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. If September extends the rally off March's low into uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average crossing at 10,922.00 would confirm 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 10,488.95. First resistance is last-Friday's high crossing at 11,283.25. Second resistance is unknown. First support is the 20-day moving average crossing at 10,922.00. Second support is the 50-day moving average crossing at 10,488.95.  

The September S&P 500 closed steady to slightly lower 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 are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off June's low, February's high crossing at 3387.60 is the next upside target. Closes below the 20-day moving average crossing at 3289.07 would confirm that a short-term top has been posted. First resistance is Thursday's high crossing at 3387.12. Second resistance is February's high crossing at 3387.60. First support is the 20-day moving average crossing at 3289.07. Second support is the 50-day moving average crossing at 3189.87.

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

September T-bonds closed closed unchanged at 177-23.

September T-bonds closed unchanged on Friday as it consolidates some of this month'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 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, July's low crossing at 179-01 is the next downside target. Closes above the 20-day moving average crossing at 180-26 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 180-26. Second resistance is August's high crossing at 183-06. First support is July's low crossing at 179-01. Second support is the June 16^th low crossing at 174-29.

September T-notes closed up 45-pts. At 139.035.

September T-notes closed higher on Thursday as it consolidates some of the decline off August's high. The high-range close sets the stage for a steady to lower 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 September extends the decline off August's high, July's low  crossing at 138.245 is the next downside target. Closes above the 10-day moving average crossing at 139.319 would signal that a short-term low has been posted. First resistance is August's high crossing at 140.130. Second resistance is March's high on the weekly continuation chart crossing at 140.240. First support is Thursday's low crossing at 138.285. Second support is July's low crossing at 138.245.           

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

October crude oil closed lower on Friday.The mid-range close sets the stage for a steady to lower opening when Monday's night session begins. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If October renews the rally off April's low, the 62% retracement level of the January-April-decline crossing at $46.44 is the next upside target. Closes below the 50-day moving average crossing at $40.50 would confirm that a short-term top has been posted. First resistance is last-Wednesday's high crossing at $43.68. Second resistance is the 62% retracement level of the January-April-decline crossing at $46.44. First support is the 50-day moving  average crossing at $40.50. Second support is the July 30th low crossing at $41.43. 

October heating oil closed lower on Friday. The mid-range close sets the stage for a steady to lower opening when Monday's night trading session begins. Stochastics and the RSI are turning neutral signaling that sideways to higher prices are possible near-term. If October resumes the rally off April's low, the 38% retracement level of the January-April-decline crossing at $133.94 is the next upside target. Closes below the 50-day moving average crossing at $124.68 would confirm that a short-term top has been posted. First resistance is the 38% retracement level of the January-April-decline crossing at $133.94. Second resistance is the 50% retracement level of the  January-April-decline crossing at $147.51. First support is the 50-day moving average crossing at $124.68. Second support is the July 30th low crossing at $119.03. 

October unleaded gas closed higher on Friday as it extends the June-August trading range. The high-range close sets the stage for a steady to slightly 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 October extends the rally off April's low, June's high crossing at 121.22 is the next upside target. Closes below the 50-day moving average crossing at 113.93 would signal that a short-term top has been posted. First resistance is June's high crossing at 121.22. Second resistance is 62% retracement level of the January-March-decline decline crossing at 130.29. First support is the July 30^th low crossing at 106.14. Second support is the June 29^th low crossing at 104.41.  

October Henry natural gas closed sharply higher on Friday as it renewed the rally off June's low. 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 September renews the rally off July's low, May's high crossing at 2.588 is the next upside target. Closes below the 20-day moving average crossing at 2.132 would confirm that a short-term top has been posted. First resistance is today's high crossing at 2.514. Second resistance is May's high crossing at 2.588. First support is the 10-day moving average crossing at 2.327. Second support is the 20-day moving average  crossing at 2.133.  

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

The September Dollar 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 remain neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 93.72 would signal that a short-term low has been posted. If September resumes this year's decline, the May 14th 2018-low on the weekly continuation  chart crossing at 92.12 is the next downside target. First resistance is the 20-day moving average crossing at 93.72. Second resistance is the 50-day moving  average crossing at 95.59. First support is last-Thursday's low crossing at 92.48. Second support is the May 14th 2018 low on the weekly continuation chart crossing at 92.12. 

The September Euro closed higher on Friday as it extended the trading range of the past three-weeks. 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 September renews the rally off March's low, the 50% retracement level of the 2018-2020 decline crossing at 120.83 is the next upside target. Closes below the 20-day moving average crossing at 117.45 would signal that a double top has been posted. First resistance is last-Thursday's high crossing at 119.26. Second resistance is the 50% retracement level of the 2018-2020 decline crossing at 120.83. First support is Wednesday's low crossing at 117.19. Second support is the 50-day moving average crossing at 114.85. 

The September British Pound closed slightly higher on Friday as it extended the trading range of the past three-weeks. The mid-range close sets the stage for a steady opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral signaling that sideways trading is possible near-term. Closes below the 20-day moving average crossing at 1.2974 would confirm that a short-term top has been posted. If September renews the rally off June's low, the December-2019 high crossing at 1.3453 is the next upside target. First resistance the 87% retracement level of the December-March decline crossing at 1.3193. Second resistance is the December-2019 high crossing at 1.3453. First support is the 20-day moving average crossing at 1.2974. Second support is the 50-day moving average crossing at 1.2713. 

The September 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. If September resumes the rally off May's low, the 62% retracement level of the 2018-2020 crossing at 1.1178 is the next upside target. Closes below the 20-day moving average crossing at 1.0916 would signal that a short-term top has been posted. First resistance is last-Wednesday's high crossing at 1.1062. Second resistance is the 62% retracement level of the 2018-2020 crossing at 1.1178. First support is the 20-day moving average crossing at 1.0916. Second support is the 50-day moving average crossing at 1.0718.

The September Canadian Dollar closed lower on Friday as it consolidates some of the rally off March'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 are diverging but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off March's low, the 87% retracement level of the January-March-decline crossing at 76.04 is the next upside target. Closes below the 20-day moving average crossing at 74.86 would confirm that a short-term top has been posted. First resistance is Thursday's high crossing at 75.81. Second resistance is the 87% retracement level of the January-March-decline crossing at 76.04. First support is the 20-day moving average crossing at 74.86. Second support is the 50-day moving average crossing at 74.19.  

The September Japanese Yen closed higher on Friday as it extends the decline off July'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 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, the July 20^th low crossing at 0.0930 is the next downside target. Closes above the 20-day moving average crossing at 0.0943 would signal that a short-term low has been posted. First resistance is 20-day moving average crossing at 0.0943. Second resistance is July's high crossing at 0.0960. First support is the July 20^th low crossing at 0.0930. Second support is July's low crossing at 0.0925.

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

October gold closed closed on Friday ending a two-day bounce off Wednesday'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 are turning neutral signaling that sideways trading is possible near-term. If October extends this week's decline, the 50-day moving average crossing at $1850.90 is the next downside target. First resistance is the 10-day moving average crossing at $1990.40. Second resistance is last-Thursday's high crossing at $2063.20. First support is the 25% retracement level of the 2018-2020-rally crossing at $1882.10. Second support is the 50-day moving average crossing at $1850.90.

September silver closed lower on Friday ending a two-day bounce off Wednesday'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 are neutral signaling that sideways trading is possible near-term. Closes below Wednesday's low crossing at 23.580 would signal that a short-term top has been posted. If September renews the rally off June's low, the 50% retracement level of the 2011-2020 decline on the weekly continuation chart crossing at 30.727 is the next upside target. First resistance is last-Friday's high crossing at 29.915. Second resistance is the 50% retracement level of the 2011-2020 decline on the weekly continuation chart crossing at 30.727. First support is Wednesday's low crossing at 23.580. Second support is the 38% retracement level of the March-April-decline crossing at 22.973.   

September copper posted an inside day with a higher close on Friday as it consolidates above the 50-day moving average crossing at 279.01.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 signaling that sideways trading is possible near-term. If September extends the decline off July's high, the 25% retracement level of the March-July-decline crossing at 274.19 is the next downside target. First resistance is July's high crossing at 299.30. Second resistance is the April-2019 high crossing at 301.65. First support is the 50-day moving average crossing at 279.01. Second support is the 25% retracement level of the March-July-decline crossing at 274.19.

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

December Corn closed down $0.01-cents at $3.37 1/2. 

December corn posted an inside day with a lower close on Friday but remains above the 50-day moving average crossing at $3.37 1/4 signaling that a short-term low has been posted. 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 neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends Thursday's rally, the July 13^th gap crossing at $3.43 3/4 is the next upside target. If December renewed the decline off July's high, the April low on the weekly continuation chart crossing at $3.00 1/4 is the next downside target. First resistance is the July 13^th gap crossing at $3.43 3/4. Second resistance is psychological resistance crossing at $3.50. First support is Wednesday's low crossing at $3.20. Second support is April's low on the weekly continuation chart crossing at $3.00 1/4.    

December wheat closed up $0.03-cents at $5.09 1/2.  

December wheat closed higher on Friday. The mid-range close sets the stage for a steady to higher opening when Monday's night 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 20-day moving average crossing at $5.22 1/2 would signal that a short-term low has been posted. If December renews this month's decline, June's low crossing at $4.79 1/2 is the next downside target. First resistance is the 50-day moving average crossing at $5.17 1/4. Second resistance is the 20-day moving average crossing at $5.22 1/2. First support is July's low crossing at $4.96. Second support is June's low crossing at $4.79 1/2.       

December Kansas City Wheat closed up $0.01 1/4-cents at $4.36.

December Kansas City wheat closed higher on Friday as it extended the rebound off last-Friday's low. The low-range close sets the stage for a steady to lower opening when Monday 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 20-day moving  average crossing at $4.42 1/2 would signal that a short-term low has been posted. If December renews the decline off July's high, weekly support crossing at $4.16 1/2 is the next downside target. First resistance is the 20-day moving average crossing at $4.42 1/2. Second resistance is the 50-day moving average crossing at $4.53. First support is last-Friday's low crossing at $4.20 3/4. Second support is weekly support crossing at $4.16 1/2.     

December Minneapolis wheat closed up $0.01 1/4-cents at $5.12 1/4.

December Minneapolis wheat closed higher on Friday as it consolidates some of this year'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 oversold and are poised to turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at $5.18 1/4 would signal that a short-term low has been posted. If December renews the decline off July's high, psychological support crossing at $5.00 is the next downside target. First resistance is the 20-day moving average crossing at $5.18 1/4. Second resistance is the 50-day moving average crossing at $5.29. First support is Wednesday's low crossing at $5.06 1/2. Second support is psychological support crossing at $5.00.         

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

November soybeans closed down $0.01 1/2-cents at $8.98.

November soybeans posted an inside day with a lower close on Friday as it consolidates some of this week's rally. 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 November extends this week's rally, July's high crossing at $9.12 1/2 is the next upside target. First resistance is the July 24th high crossing at $9.03 3/4 cents. Second resistance is July's high crossing at $9.12 1/2. First support is the 10-day moving average crossing at $8.83. Second support is Monday's low crossing at $8.65 1/4.

December soybean meal closed down $0.80 at $297.90. 

December soybean meal posted an inside day with a lower close on Friday as it consolidates some of this week's rally but remains above the 50-day moving average crossing at $295.90. 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 bullish signaling that sideways to higher prices are possible near-term. If December extends this week's rally, the July 27^th high crossing at $303.50 is the next upside target. Closes below the 10-day moving average crossing at $291.80 would temper the near-term friendly outlook. First resistance is the July 27^th high crossing at $303.50. Second resistance is July's high crossing at $308.90. First support is the 10-day moving average crossing at $291.80. Second support is Monday's low at $286.20.       

December soybean oil closed up 2-pts. at 31.17. 

December soybean oil 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. If December renews the rally off April's low, the 62% retracement level of the December-March-decline crossing at 32.40 is the next upside target. Closes below Wednesday's low  crossing at 30.29 would confirm that a short-term top has been posted. First resistance is Thursday's high crossing at 31.82. Second resistance is the 62% retracement level of the December-March-decline crossing at 32.40. First support is Wednesday's low crossing at 30.29. Second support is the 50-day moving average crossing at 29.66.     

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

October hogs closed up $0.73 at $53.08. 

October hogs closed higher on Friday as it extended the rally off Wednesday's low. 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 October extends this week's rally, July's high crossing at $54.98 is the next upside  target. Closes below the 20-day moving average crossing at $50.46 would signal that a short-term top has been posted. First resistance is Monday's high crossing at $54.15. Second resistance is July's high crossing at $54.98. First support is the 20-day moving average crossing at $50.46. Second support is the July 31st low crossing at $47.87.     

October cattle closed down $0.03 at $110.13. 

October cattle closed lower on Friday. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If October extends the rally off April's low, the 87% retracement level of the January-April-decline crossing at $115.09 is the next upside target. Closes below the 20-day moving average crossing at $107.15 would confirm that a short-term top has been posted. First resistance is the 75% retracement level of the January-April-decline crossing at $110.91. Second resistance is the 87% retracement level of the January-April-decline crossing at $115.09. First support is the 20-day moving average crossing at $107.15. Second support is the 50-day moving average crossing at $102.70.     

October Feeder cattle closed down $0.90-cents at $147.58. 

October Feeder cattle closed lower on Friday as it consolidates some of the rally off March's low. The low-range close sets the stage for a steady to lower opening when Monday's session begins trading. Stochastics and the RSI are overbought, diverging but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If October extends the rally off April's low, the 87% retracement level of the January-April-decline crossing at $151.44 is the next upside target. Closes below the 20-day moving average crossing at $145.43 would confirm that a short-term top has been posted. First resistance is Wednesday's high crossing at $150.20. Second resistance is the 87% retracement level of the January-April-decline crossing at $151.44. First support is the 20-day moving average crossing at $145.43. Second support is the 50-day moving average crossing at $140.06.        

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

September coffee closed lower on Friday ending a two-day rebound off Tuesday's low. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends  the rally off Tuesday's low, August's high crossing at 12.73 is the next upside target. Closes below Tuesday's low crossing at 10.97 would confirm that a short-term top.   

September cocoa posted a key reversal down with today's lower close on Friday. The low-range close sets 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. Closes below the 20-day moving average crossing at 23.79 would temper the near-term bearish outlook. If September renews the rally off July's low, the 62% retracement  level of the February-July-decline crossing at 25.87 is the next upside target.                 

October sugar closed slightly lower on Friday as it consolidated some of the rally off April's low. The low-range close set the stage for a steady to lower opening on Monday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If October extends the rally off April's low, the 75% retracement level of the February-April-decline crossing at 13.63 is the next upside target. Closes below the 50-day moving average crossing at 12.13 would confirm that a short-term top has been posted.              

December cotton closed lower on Friday as it extends this week's trading range. The low-range close sets 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. Closes below the 50-day moving average crossing at 61.72 would confirm that a short-term top has been posted. If December renewed the rally off April's low, the 75% retracement level of the January-April-decline crossing at 67.31 is the next upside target.