INO Evening Market Comments
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Started by tallpine - Sept. 1, 2020, 4:53 p.m.

KEY EVENTS TO WATCH FOR:



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 higher on Tuesday as friendly economic reports triggered renewed buying momentum on Wall Street. The rise in stocks comes even as September, a seasonally weak month for equities, following the best August returns in more than 30 years. The high-range close sets the stage for a steady to higher opening when Wednesday'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 27,966.90 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  27,966.90. Second support is the 50-day moving average crossing at 26,941.75.  



The September NASDAQ 100 closed higher on Monday as it extends this year's rally into record territory.The high-range close sets the stage for a steady to higher opening when Wednesday'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 11,483.86 would confirm that a short-term top has been posted. First resistance is Today's high crossing at 12,284.25. Second resistance is unknown. First support is the 10-day moving average crossing at 11,805.60. Second support is the 20-day moving average crossing at 11,483.90.  

 

The September S&P 500 closed higher on Tuesday as it extends this year's rally into uncharted territory. The high-range close sets the stage for a steady to higher opening when Wednesday'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 3402.18 would confirm that a short-term top has been posted. First resistance is today's high crossing at 3528.03. Second resistance is unknown. First support is the 20-day moving average crossing at 3402.18. Second support is the 50-day moving average crossing at 3268.08.



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



September T-bonds closed closed up 21/32's at 178-01.

  

September T-bonds closed higher on Tuesday as they consolidate some of this month's decline. The high-range close sets the stage for a steady to higher opening when Wednesday's night 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 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 55-pts. At 139.185.



September T-notes closed higher on Tuesday. The high-range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that a low might be in or is near. Closes above the August 21st high crossing at 139.235 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 August 21st high  crossing at 139.235. 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 higher on Tuesday as it extends August's trading range. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins. Stochastics and the RSI are 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 $41.48 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 $41.48. Second support is the July 30th low crossing at $39.00. 



October heating oil closed slightly higher on Tuesday. The low-range close sets the stage for a steady to lower opening when Wednesday'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 posted an inside day with a slightly higher close on Tuesday. The low-range close sets the stage for a steady to lower opening when Wednesday'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 116.64 would signal that a short-term top has been posted. If October renews 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 116.64. Second support is the July 30th low crossing at 106.14.  



October Henry natural gas closed lower on Tuesday. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 2.479 would confirm that a short-term top has been posted. If September renews the rally off July's low, the November-2017 high crossing at 2.815 is the next upside target. 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 the 20-day moving average crossing at 2.479. Second support is the August 12th low crossing at 2.228.  



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



The September Dollar closed higher due to short covering on Tuesday. The high-range close sets the stage for a steady to higher opening when Wednesday'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 94.61. First support is today's low crossing at 91.72. Second support is long-term support on the monthly continuation chart crossing at 90.21. 



The September Euro closed lower on Tuesday while extending August's trading range. The low-range close sets the stage for a steady to lower opening when Wednesday'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 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 today's high crossing at 120.15. 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 116.20. 

 

The September British Pound closed slightly higher on Tuesday as it extends the rally off March's low. A sell off ahead of the close tempered early-session gains and the low-range close sets the stage for a steady to lower opening when Wednesday'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, the February-2019 high crossing at 1.3639 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 1.3483. Second resistance is the February-2019 high crossing at 1.3639. First support is the August 24th low crossing at 1.3056. Second support is the 50-day moving average crossing at 1.2862. 

 

The September Swiss Franc closed sharply lower on Tuesday. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that a short-term top might be in or is near-term. Closes below the August 20th low crossing at 1.0921 are needed confirm that a short-term top has been posted. 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. First resistance is Monday'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 20th low crossing at 1.0921. Second support is the August 12th low crossing at 1.0881.



The September Canadian Dollar closed lower on Tuesday as it consolidates some of this summer's rally.The low-range close sets the stage for a steady to lower opening when Wednesday'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 March's low, January's high crossing at 77.16 is the next upside target. Closes below the 20-day moving average crossing at 75.71 would confirm that a short-term top has been posted. First resistance is today's high crossing at 76.96. Second resistance is January's high crossing at 77.15. First support is the 20-day moving average crossing at 75.71. Second support is the 50-day moving average crossing at 74.68. 

 

The September Japanese Yen closed lower on Tuesday. The low-range close sets the stage for a steady to lower opening when Wednesday’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 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 higher on Tuesday as it extends the trading range of the past three-weeks.The low-range close sets the stage for a steady to slightly higher opening when Wednesday'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 $1901.60 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 lower on Tuesday. The low-range close sets the stage for a steady to lower opening when Wednesday'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 the August 25th low crossing at 26.130 would confirm that a short-term top has been posted. First resistance is August's high crossing at 29.915. Second resistance isthe 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 posted a key reversal down and closed lower on Tuesday.The low-range close sets the stage for a steady to lower opening when Wednesday's night 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 September extends the rally off August's low, the 87% retracement level of the 2018-2020 decline crossing at 322.93 is the next upside target. Closes below the 50-day moving average crossing at 287.60 would confirm that a short-term top has been posted. First resistance is the 75% retracement level of the 2018-2020 decline crossing at 305.84. Second resistance is the 87% retracement level of the 2018-2020 decline crossing at 322.93. First support is the 20-day moving average crossing at 292.70. Second support is the 50-day moving average crossing at 287.60.



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



December Corn closed up $0.00 1/4-cent at $3.58. 



December corn closed lower on Tuesday. The high-range close sets the stage for a steady to higher opening when Wednesday'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 $3.50 3/4. Second support is the 20-day moving average crossing at $3.40 1/2.    



December wheat closed up $0.11 3/4-cents at $5.64.  



December wheat closed higher on Tuesday as it extends the rally off August's low. The high-range close sets the stage for a steady to higher opening when Wednesday'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 January-June-decline crossing at $5.84 is the next upside target. Closes below the 50-day moving average crossing at $5.23 1/4 would signal that a short-term top has been posted. First resistance is today's high crossing at $5.68 1/2. Second resistance is the 87% retracement level of the March-June-decline crossing at $5.84. First support is the 10-day moving average crossing at $5.40 1/4. Second support is the 50-day moving average crossing at $5.23 1/4.       



December Kansas City Wheat closed up $0.10 1/4-cents at $4.85 1/2.

 

December Kansas City wheat closed higher on Tuesday as it extends the rally off August's low. The high-range close sets the stage for a steady to higher opening when Wednesday 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 $4.48 would confirm that a short-term top has been posted. First resistance is today's high crossing at $4.90 3/4. Second resistance is June's high crossing at $4.95. First support is the 10-day moving average crossing at $4.62 1/4. Second support is the 20-day moving average crossing at $4.48.      



December Minneapolis wheat closed up $0.06 3/4-cents at $5.46 1/4.



December Minneapolis wheat closed higher on Tuesday. The high-range close sets the stage for a steady to slightly higher opening when Wednesday'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 $5.22 1/2 would confirm that a short-term top has been posted. First resistance is today's high crossing at $5.49. Second resistance is June's high crossing at $5.54 1/4. First support is the 10-day moving average crossing at $5.32 3/4. Second support is the 20-day moving average crossing at $5.22 1/2.          



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



November soybeans closed up $0.01 1/2-cents at $9.54 3/4.



November soybeans closed higher on Tuesday as it extends the rally off August's rally. The high-range close sets the stage for a steady to higher opening when Wednesday'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 $9.07 3/4 would confirm that a short-term top has been posted. First resistance is Monday'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 $9.27 1/4. Second support is the 20-day moving average crossing at $9.07 3/4.



December soybean meal closed down $1.70 at $310.80. 



December soybean meal closed lower on Tuesday as it consolidates some of the rally off August's low. The mid-range close sets the stage for a steady to lower opening when Wednesday'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 $298.60 would confirm that a short-term top has been posted. First resistance is Monday'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 $298.60. Second support is August's low average at $286.20.       



December soybean oil closed up 2-pts. at 32.86. 



December soybean oil closed slightly higher on Tuesday leaving Monday's key reversal down unconfirmed. The low-range close sets the stage for a steady to lower opening when Wednesday'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 31.79 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 32.41. Second support is the 20-day moving average crossing at 31.79.      

 

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



October hogs closed up $1.35 at $54.95. 



October hogs closed higher on Tuesday. The high-range close sets the stage for a steady to higher opening when Wednesday'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 $53.19 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 $53.19. Second support is the 50-day moving average crossing at $51.03.     



October cattle closed up $0.30 at $105.60. 



October cattle closed higher on Tuesday but remains below the 50-day moving average crossing at $105.77. The high-range close sets the stage for a steady to higher opening on Wednesday. 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 $108.15 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 $0.18-cents at $140.45. 


October Feeder cattle closed higher on Tuesday 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 $145.07 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at $145.07. Second resistance is August's high crossing at $150.20. First support is Monday'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 Tuesday as it renewed the rally off June's low. The low-range close sets the stage for a steady to lower opening on Wednesday. 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 75% retracement level of the December-June-decline crossing at 13.40 is the next upside target. Closes below the 20-day moving average crossing at 11.95 would confirm that a short-term top.   



December cocoa closed higher on Tuesday as it extends the rally off July's low. The mid-range close sets the stage for a steady to higher opening on Wednesday. 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 24.95 would confirm that a short-term top has been posted.                 



October sugar closed lower on Tuesday. The low-range close set the stage for a steady to lower opening on Wednesday. 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 12.29 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 Tuesday. The low-range close sets the stage for a steady to slightly lower opening on Tuesday. 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 64.13 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.  

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