KEY EVENTS TO WATCH FOR:
Tuesday, September 1, 2020
7:45 AM ET. The Retail Economist/Goldman Sachs Weekly Chain Store Sales Index
Chain Store Sales, W/W% (previous +1.6%)
Chain Store Sales, M/M% (previous -4.7%)
8:55 AM ET. Johnson Redbook Retail Sales Index
Ret Sales Mo-to-Date, M/M% (previous +4.1%)
Ret Sales Mo-to-Date, Y/Y% (previous -1.9%)
Latest Wk, Y/Y% (previous +0.6%)
9:45 AM ET. August US Manufacturing PMI
PMI, Mfg (previous 50.9)
10:00 AM ET. August ISM Report on Business Manufacturing PMI
Manufacturing PMI (expected 54.4; previous 54.2)
Prices Idx (previous 53.2)
Employment Idx (previous 44.3)
Inventories (previous 47.0)
New Orders Idx (previous 61.5)
Production Idx (previous 62.1)
10:00 AM ET. July Construction Spending - Construction Put in Place
New Construction (expected +1.4%; previous -0.7%)
Residential Construction
11:00 AM ET. August Global Manufacturing PMI
PMI, Mfg (previous 50.3)
4:00 PM ET. August Domestic Auto Industry Sales
4:30 PM ET. API Weekly Statistical Bulletin
Crude Stocks, Net Chg (Bbls) (previous -4.5M)
Gasoline Stocks, Net Chg (Bbls) (previous -6.4M)
Distillate Stocks, Net Chg (Bbls) (previous +2.3M)
Wednesday, September 2, 2020
7:00 AM ET. MBA Weekly Mortgage Applications Survey
Composite Idx (previous 770.6)
Composite Idx, W/W% (previous -6.5%)
Purchase Idx-SA (previous 306.6)
Purchase Idx-SA, W/W% (previous +0.4%)
Refinance Idx (previous 3423.0)
Refinance Idx, W/W% (previous -10.2%)
8:15 AM ET. August ADP National Employment Report
Private Sector Jobs, Net Chg (expected +800000; previous +167000)
9:00 AM ET. SEC Open Meeting
9:45 AM ET. August ISM-NY Report on Business
Business Index (previous 53.5)
10:00 AM ET. July Manufacturers' Shipments, Inventories & Orders (M3)
Total Orders, M/M% (expected +4.2%; previous +6.2%)
Orders, Ex-Defense, M/M% (previous +7.0%)
Orders, Ex-Transport, M/M% (previous +4.4%)
Durable Goods, M/M%
Durable Goods, M/M%
10:00 AM ET. July Metropolitan Area Employment & Unemployment
10:30 AM ET. EIA Weekly Petroleum Status Report
Crude Oil Stocks (Bbl) (previous 507.763M)
Crude Oil Stocks, Net Chg (Bbl) (previous -4.689M)
Gasoline Stocks (Bbl) (previous 239.179M)
Gasoline Stocks, Net Chg (Bbl) (previous -4.583M)
Distillate Stocks (Bbl) (previous 179.195M)
Distillate Stocks, Net Chg (Bbl) (previous +1.388M)
Refinery Usage (previous 82.0%)
Total Prod Supplied (Bbl/day) (previous 19.619M)
Total Prod Supplied, Net Chg (Bbl/day) (previous +2.46M)
2:00 PM ET. U.S. Federal Reserve Beige Book
2:00 PM ET. SEC Closed Meeting
Thursday, September 3, 2020
7:30 AM ET. August Challenger Job-Cut Report
Job Cuts, M/M% (previous +54%)
8:30 AM ET. July U.S. International Trade in Goods & Services
Trade Balance (USD) (expected -52.3B; previous -50.7B)
Exports (USD) (previous 158.3B)
Exports, M/M% (previous +9.4%)
Imports (USD) (previous 208.9B)
Imports, M/M% (previous +4.7%)
8:30 AM ET. Unemployment Insurance Weekly Claims Report - Initial Claims
Jobless Claims (expected 980K; previous 1006K)
Jobless Claims, Net Chg (previous -98K)
Continuing Claims (previous 14535000)
Continuing Claims, Net Chg (previous -223K)
8:30 AM ET. 2nd Quarter Revised Productivity & Costs
Non-Farm Productivity (expected +7.5%; previous -0.9%)
Unit Labor Costs (expected +12.1%; previous +5.1%)
8:30 AM ET. U.S. Weekly Export Sales
Corn (Metric Tons) (previous 1451K)
Soybeans (Metric Tons) (previous 1924.9K)
Wheat (Metric Tons) (previous 776K)
9:45 AM ET. Bloomberg Consumer Comfort Index
9:45 AM ET. August US Services PMI
PMI, Services (previous 50.0)
10:00 AM ET. August ISM Report on Business Services PMI
Non-Mfg Composite Idx (expected 57.9; previous 58.1)
Non-Mfg Business Idx (previous 67.2)
Prices Idx (previous 57.6)
Employment Idx (previous 42.1)
New Orders Idx (previous 67.7)
10:30 AM ET. EIA Weekly Natural Gas Storage Report
Working Gas In Storage (Cbf) (previous 3420B)
Working Gas In Storage, Net Chg (Cbf) (previous +45B)
11:00 AM ET. August Global Services PMI
PMI, Services (previous 47.8)
12:00 AM ET. August Monthly U.S. Retail Chain Store Sales Index
4:30 PM ET. Foreign Central Bank Holdings
4:30 PM ET. Money Stock Measures
4:30 PM ET. Federal Discount Window Borrowings
Friday, September 4, 2020
8:30 AM ET. August U.S. Employment Report
Non-Farm Payrolls (expected +1255K; previous +1763K)
Unemployment Rate (expected 9.9%; previous 10.2%)
Avg Hourly Earnings (USD) (previous 29.39)
Avg Hourly Earnings-Net Chg (USD) (previous +0.07)
Avg Hourly Earnings, M/M% (expected +0.1%; previous +0.24%)
Avg Hourly Earnings, Y/Y% (expected +4.6%; previous +4.78%)
Overall Workweek (previous 34.5)
Overall Workweek Net Chg (previous -0.1)
Government Payrolls (previous +301K)
Private Payroll (previous +1462K)
Participation Rate (previous 61.4%)
Non-Farm Payrolls Bench Net Chg
Monday, September 7, 2020
N/A Marianas: Labor Day
N/A U.S. Labor Day. Financial markets closed
The STOCK INDEXES? http://quotes.ino.com/ex?changes/?c=indexes
The Dow closed lower on Monday but left Wall Street with a strong performance for the month despite the COVID-19 pandemic. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If the Dow extends this month's rally, February's high crossing at 29,568.57 is the next upside target. Closes below the 20-day moving average crossing at 27,879.22 would confirm that a short-term top has been posted. First resistance is last-Friday's high crossing at 28,636.67. Second resistance is February's high crossing at 29,568.57. First support is the 20-day moving average crossing at 27,879.22. Second support is the 50-day moving average crossing at 26,891.37.
The September NASDAQ 100 closed higher on Monday as it continues to extend this year's rally into record territory.The high-range close sets the stage for a steady to higher opening when Tuesday'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 11,425.34 would confirm that a short-term top has been posted. First resistance is Today's high crossing at 12,149.75. Second resistance is unknown. First support is the 20-day moving average crossing at 11,425.34. Second support is the 50-day moving average crossing at 10,888.07.
The September S&P 500 closed lower on Monday. The mid-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends this year's rally into uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average crossing at 3381.42 would confirm that a short-term top has been posted. First resistance is today's high crossing at 3510.81. Second resistance is unknown. First support is the 20-day moving average crossing at 3381.42. Second support is the 50-day moving average crossing at 3251.41.
INTEREST RATES? http://quotes.ino.com/ex?changes/?c=interest ""
September T-bonds closed closed up 19/32's at 177-01.
September T-bonds closed higher on Monday as they consolidate some of this month's decline. 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, diverging and are turning neutral to bullish hinting that a short-term low might be in or is near. Closes above the 50-day moving average crossing at 179-16 are needed to confirm that a short-term low has been posted. If September extends the decline off August's high, the June 16th low crossing at 174-29 is the next downside target. First resistance is the 50-day moving average crossing at 179-16. Second resistance is August's high crossing at 183-06. First support is last-Friday's low crossing at 175-05. Second support is the June 16th low crossing at 174-29.
September T-notes closed up 30-pts. At 139.110.
September T-notes closed higher on Monday. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are diverging and are turning neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 139.157 would signal that a short-term low has been posted. If September resumes the decline off August's high, the June 16th low crossing at 138.070 is the next downside target. First resistance is the 20-day moving average crossing at 139.157. Second resistance is August's high crossing at 140.130. First support is last-Friday's low crossing at 138.230. Second support is the June 16th low crossing at 138.070.
ENERGY MARKETS? http://quotes.ino.com/ex?changes/?c=energy ""
October crude oil closed steady to slightly lower on Monday as it extends this month's trading range. 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 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 $41.44 would confirm that a short-term top has been posted. First resistance is last-Wednesday's high crossing at $43.78. 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 $41.44. Second support is the July 30th low crossing at $39.00.
October heating oil closed lower on Monday. 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 neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below August's low crossing at $121.03 would open the door for a possible test of the July 30th low crossing at $119.03. 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. 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 July 30th low crossing at $119.03. Second support is the June 29th low crossing at $117.88.
October unleaded gas closed lower on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at 116.54 would signal that a short-term top has been posted. If October extends the rally off April's low, the 62% retracement level of the January-March-decline crossing at 130.29 is the next upside target. First resistance is Tuesday's high crossing at 129.41. Second resistance is 62% retracement level of the January-March-decline decline crossing at 130.29. First support is the 50-day moving average crossing at 116.54. Second support is the July 30th low crossing at 106.14.
October Henry natural gas closed lower on Monday. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off July's low, the November-2017 high crossing at 2.815 is the next upside target. Closes below the 20-day moving average crossing at 2.470 would confirm that a short-term top has been posted. First resistance is last-Friday's high crossing at 2.743. Second resistance is the November-2017 high crossing at 2.815. First support is last-Thursday's low crossing at 2.491. Second support is the 20-day moving average crossing at 2.470.
CURRENCIES? http://quotes.ino.com/ex?changes/?c=currencies ""
The September Dollar closed lower on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If September renews this year's decline, long-term support on the monthly continuation chart crossing at 90.21 is the next downside target. Closes above the August 3rd high crossing at 93.98 are needed to confirm that a short-term low has been posted. First resistance is the August 3rd high crossing at 93.98. Second resistance is the 50-day moving average crossing at 94.69. First support is today's low crossing at 91.99. Second support is long-term support on the monthly continuation chart crossing at 90.21.
The September Euro closed higher on Monday while extending August's trading range. 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 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 August 3rd low crossing at 117.07 would confirm that a short-term top has been posted. First resistance is August's high crossing at 119.73. Second resistance is the 50% retracement level of the 2018-2020 decline crossing at 120.83. First support is the August 3rd low crossing at 117.07. Second support is the 50-day moving average crossing at 116.08.
The September British Pound closed higher on Monday as it extends the rally off March's low. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off June's low, the December-2019 high crossing at 1.3453 is the next upside target. Closes below the August 24th low crossing at 1.3056 would confirm that a short-term top has been posted. First resistance is today's high crossing at 1.3397. Second resistance is the December-2019 high crossing at 1.3453. First support is the August 24th low crossing at 1.3056. Second support is the 50-day moving average crossing at 1.2843.
The September Swiss Franc closed slightly higher on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are 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 August 12th low crossing at 1.0881 are needed confirm that a short-term top has been posted. First resistance is today's high crossing at 1.1117. Second resistance is the 62% retracement level of the 2018-2020 crossing at 1.1178. First support is the August 12th low crossing at 1.0881. Second support is the August 3rd low crossing at 1.0829.
The September Canadian Dollar closed higher on Friday as it extends this summer's rally above the 87% retracement level of the January-March-decline crossing at 76.04.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 and remain neutral to bullish signaling that sideways to higher prices are possible near-term. If September renews the rally off March's low, January's high crossing at 77.16 is the next upside target. Closes below the 20-day moving average crossing at 75.64 would confirm that a short-term top has been posted. First resistance is today's high crossing at 76.81. Second resistance is January's high crossing at 77.15. First support is the 20-day moving average crossing at 75.64. Second support is the 50-day moving average crossing at 74.64.
The September Japanese Yen posted an inside day on Monday leaving last-Friday's key reversal up unconfirmed. The low-range close sets the stage for a steady to lower opening when Tuesday’s night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If September renews the rally off August's low, July's high crossing at 0.0960 is the next upside target. If September renews the decline off August's high, the July 20th low crossing at 0.0930 is the next downside target. First resistance is the August 19th high crossing at 0.0952. Second resistance is July's high crossing at 0.0960. First support is August's low crossing at 0.0939. Second support is the July 20th low crossing at 0.0930.
PRECIOUS METALS? http://quotes.ino.com/ex?changes/?c=metals ""
October gold closed slightly lower on Monday as it extends the trading range of the past three-weeks.The mid-range close sets the stage for a steady to slightly 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. If October resumes the rally off August's low, August's high crossing at $2078.00 is the next upside target. If October renews the decline off August's high, the 50-day moving average crossing at $1897.70 is the next downside target. First resistance is the August 18th high crossing at $2016.60. Second resistance is August's high crossing at $2078.00. First support is the 25% retracement level of the 2018-2020-rally crossing at $1882.10. Second support is the 38% retracement level of the 2018-2020-rally crossing at $1775.80.
September silver closed higher on Monday. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If 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. Closes below August's low crossing at 23.580 would confirm that a short-term top has been posted. First resistance is August'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 August's low crossing at 23.580. Second support is the 38% retracement level of the March-April-decline crossing at 22.973.
September copper closed higher on Monday.The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off August's low, the 75% retracement level of the 2018-2020 decline crossing at 305.84 is the next upside target. Closes below the 50-day moving average crossing at 286.91 would confirm that a short-term top has been posted. First resistance is today's high crossing at 303.40. Second resistance is the 75% retracement level of the 2018-2020 decline crossing at 305.84. First support is the 20-day moving average crossing at 292.20. Second support is the 50-day moving average crossing at 286.91.
GRAINS? http://quotes.ino.com/ex?changes/?c=grains "
December Corn closed down $0.01-cent at $3.58 1/4.
December corn closed lower on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday's night sessions 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 August's low, the 50% retracement level of the 2019-2020-decline crossing at $3.72 is the next upside target. Closes below the 20-day moving average crossing at $3.38 3/4 would confirm that a short-term top has been posted. First resistance is today's high crossing at $3.64 1/4. Second resistance is the 50% retracement level of the 2019-2020-decline crossing at $3.72. First support is the 10-day moving average crossing at $3.49. Second support is the 20-day moving average crossing at $3.38 3/4.
December wheat closed up $0.02 1/2-cents at $5.51 1/4.
December wheat closed higher on Monday as it extends the rally off August's low. The low-range close sets the stage for a steady to slightly 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 August's low, the 87% retracement level of the March-June-decline crossing at $5.65 is the next upside target. Closes below the 50-day moving average crossing at $5.22 would signal that a short-term top has been posted. First resistance is today's high crossing at $5.60 1/4. Second resistance is the 87% retracement level of the March-June-decline crossing at $5.65. First support is the 10-day moving average crossing at $5.35 1/2. Second support is the 50-day moving average crossing at $5.22.
December Kansas City Wheat closed up $0.02 1/2-cents at $4.74 3/4.
December Kansas City wheat closed higher on Tuesday as it extended the rally off August's low. The low-range close sets the stage for a steady to slightly higher opening when Tuesday night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible. If December extends the rally off August's low, the June's high crossing at $4.95 is the next upside target. Closes below the 20-day moving average crossing at $4.45 1/4 would confirm that a short-term top has been posted. First resistance is today's high crossing at $4.85 1/4. Second resistance is June's high crossing at $4.95. First support is the 20-day moving average crossing at $4.45 1/4. Second support is August's low crossing at $4.20 3/4.
December Minneapolis wheat closed up $0.00 1/4-cents at $5.39 1/2.
December Minneapolis wheat closed fractionally higher on Monday. The mid-range close sets the stage for a steady to slightly 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 August's low, June's high crossing at $5.54 1/4 is the next upside target. Closes below the 20-day moving average crossing at $5.21 would confirm that a short-term top has been posted. First resistance is today's high crossing at $5.47 3/4. Second resistance is June's high crossing at $5.54 1/4. First support is the 20-day moving average crossing at $5.21. Second support is August's low crossing at $5.06 1/2.
SOYBEAN COMPLEX? http://quotes.ino.com/ex?changes/?c=grains "
November soybeans closed up $0.00 1/4-cents at $9.52 1/2.
November soybeans closed fractionally higher on Monday as it extends the rally off August's rally. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If November extends this month's rally, January's high crossing at $9.82 3/4 is the next upside target. Closes below the 20-day moving average crossing at $9.04 would confirm that a short-term top has been posted. First resistance is today's high crossing at $9.66 3/4. Second resistance is January's high crossing at $9.82 3/4. First support is the 10-day moving average crossing at $9.23 1/4. Second support is the 20-day moving average crossing at $9.04.
December soybean meal closed up $2.60 at $312.30.
December soybean meal closed higher on Monday as it extends the rally off August's low. The mid-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off August's low, the 62% retracement level of the 2019-2020-decline crossing at $317.60 is the next upside target. Closes below the 20-day moving average crossing at $297.70 would confirm that a short-term top has been posted. First resistance is today's high crossing at $314.90. Second resistance is the 62% retracement level of the 2019-2020-decline crossing at $317.60. First support is the 20-day moving average crossing at $297.70. Second support is August's low average at $286.20.
December soybean oil closed down 40-pts. at 32.84.
December soybean oil posted a key reversal down and closed lower on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are overbought 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 31.70 would confirm that a short-term top has been posted. If December extends the rally off April's low, the 87% retracement level of the December-March-decline crossing at 35.07 is the next upside target. First resistance is the 75% retracement level of the December-March-decline crossing at 33.80. Second resistance is the 87% retracement level of the December-March-decline crossing at 35.07. First support is the 10-day moving average crossing at 32.31. Second support is the 20-day moving average crossing at 31.70.
LIVESTOCKhttp://quotes.ino.com/exchanges/?c=livestock
October hogs closed up $0.03 at $53.68.
October hogs closed slightly higher on Monday. The mid-range close sets the stage for a steady to slightly higher 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 below the 20-day moving average crossing at $52.90 would signal that a short-term top has been posted. If October extends the rally off the July 31st low, the 25% retracement level of the 2019-2020-decline crossing at $57.01 is the next upside target. First resistance is last-Wednesday's high crossing at $56.70. Second resistance is the 25% retracement level of the 2019-2020-decline crossing at $57.01. First support is the 20-day moving average crossing at $52.90. Second support is the 50-day moving average crossing at $50.93.
October cattle closed up $0.23 at $105.13.
October cattle closed higher on Monday but remains below the 50-day moving average crossing at $105.64 thereby opening the door for additional weakness near-term. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If October extends this month's decline, the July 28th low crossing at $103.65 is the next downside target. Closes above the 20-day moving average crossing at $108.25 would signal that a short-term low 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 July 28th low crossing at $103.65. Second support is the July 15th low crossing at $102.65.
October Feeder cattle closed up $0.13-cents at $140.30.
October Feeder cattle closed slightly higher on Monday as it consolidated some of the decline off August's high. The mid-range close sets the stage for a steady to higher opening when Tuesday's session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If October extends this month's decline, July's low crossing at $132.38 is the next downside target. Closes above the 20-day moving average crossing at $145.39 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at $145.39. Second resistance is August's high crossing at $150.20. First support is today's low crossing at $138.72. Second support is July's low crossing at $132.38.
FOOD & FIBERhttp://quotes.ino.com/ex changes/?c=food
September coffee closed higher on Monday as it renewed the rally off June's low. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off August's low, the December-June-decline crossing at 13.40 is the next upside target. Closes below the 20-day moving average crossing at 11.90 would confirm that a short-term top.
December cocoa closed higher on Monday as it extends the rally off July's low. The high-range close sets the stage for a steady to higher opening on Tuesday. 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 July's low, the 87% retracement level of the February-July-decline crossing at 27.14 is the next upside target. Closes below the 20-day moving average crossing at 24.84 would confirm that a short-term top has been posted.
October sugar closed slightly higher on Monday. The mid-range close set the stage for a steady to slightly higher opening on Tuesday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If October extends the decline off August' high, the 50-day moving average crossing at 12.28 is the next downside target. If October resumes the rally off April's low, the 75% retracement level of the February-April-decline crossing at 13.63 is the next upside target.
December cotton closed slightly higher on Monday. The mid-range close sets the stage for a steady to slightly higher opening on Tuesday. 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 62.81 would confirm that a short-term top has been posted. If December extends the rally off April's low, the 75% retracement level of the January-April-decline crossing at 67.31 is the next upside target.
Thanks tallpine!
Wild ride for the grains right now. Weather has just about been played out.
-2% for corn, -3% for beans on the crop condition earlier.
https://www.marketforum.com/forum/topic/58454/
Wild for natural gas too, going from huge losses early this morning, back to the price of the close on Friday late this evening.
https://www.marketforum.com/forum/topic/58125/
Exports:
Weather Tuesday: