KEY EVENTS TO WATCH FOR:

Wednesday, September 16, 2020  

7:00 AM ET. MBA Weekly Mortgage Applications Survey

                       Composite Idx (previous 776.7)

                       Composite Idx, W/W% (previous +2.9%)

                       Purchase Idx-SA (previous 317.7)

                       Purchase Idx-SA, W/W% (previous +2.6%)

                       Refinance Idx (previous 3415.1)

                       Refinance Idx, W/W% (previous -3.1%)

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

                       Overall Sales-SA, M/M% (expected +0.9%; previous +1.2%)

                       Sales, Ex-Auto, M/M% (expected +0.8%; previous +1.9%)

                       Sales, Ex-Auto & Gas, M/M% (previous +1.5%)

10:00 AM ET. September NAHB Housing Market Index

                       Housing Mkt Idx (expected 78; previous 78)

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

                       Total Inventories (expected +0.1%; previous -1.1%)

10:00 AM ET. SEC Open Meeting

10:30 AM ET. EIA Weekly Petroleum Status Report

                       Crude Oil Stocks (Bbl) (previous 500.434M)

                       Crude Oil Stocks, Net Chg (Bbl) (previous +2.033M)

                       Gasoline Stocks (Bbl) (previous 231.905M)

                       Gasoline Stocks, Net Chg (Bbl) (previous -2.954M)

                       Distillate Stocks (Bbl) (previous 175.845M)

                       Distillate Stocks, Net Chg (Bbl) (previous -1.675M)

                       Refinery Usage (previous 71.8%)

                       Total Prod Supplied (Bbl/day) (previous 18.678M)

                       Total Prod Supplied, Net Chg (Bbl/day) (previous +1.699M)

2:00 PM ET. Federal Reserve economic projections

                       Median Fed Funds Rate - 2020 (previous 0.1%)

                       Median Fed Funds Rate - 2021 (previous 0.1%)

                       Median Fed Funds Rate - 2022 (previous 0.1%)

                       Median Fed Funds Rate – 2023

2:00 PM ET. U.S. interest rate decision

                       Federal Funds Rate

                       Federal Funds Rate Change (Pts)

                       Fed Funds Rate-Range High (previous 0.25)

                       Fed Funds Rate-Range Low (previous 0.00)

                       FOMC Vote For Action (previous 10)

                       FOMC Vote Against Action (previous 0)

                       Discount Rate (previous 0.25)

                       Discount Rate Change (Pts) (previous +0)

                       Discount Rate-Range High

                       Discount Rate-Range Low

4:00 PM ET. July Treasury International Capital Data

Thursday, September 17, 2020 

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

                       Jobless Claims (expected 880K; previous 884K)

                       Jobless Claims, Net Chg (previous +0K)

                       Continuing Claims (previous 13385000)

                       Continuing Claims, Net Chg (previous +93K)

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

                       Corn (Metric Tons) (previous 1823.3K)

                       Soybeans (Metric Tons) (previous 3161.8K)

                       Wheat (Metric Tons) (previous 484.4K)

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

                       Business Activity (expected 14.0; previous 17.2)

                       Prices Paid (previous 15.3)

                       Employment (previous 9.0)

                       New Orders (previous 19.0)

                       Prices Received (previous 12.4)

                       Delivery Times (previous 7.3)

                       Inventories (previous -1.9)

                       Shipments (previous 9.4)

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

                       Total Starts (expected 1.45M; previous 1.496M)

                       Housing Starts, M/M% (expected -3.1%; previous +22.6%)

                       Building Permits (expected 1.52M; previous 1.495M)

                       Building Permits, M/M% (expected +1.7%; previous +18.8%)

9:45 AM ET. Bloomberg Consumer Comfort Index

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

                       Working Gas In Storage (Cbf) (previous 3525B)

                       Working Gas In Storage, Net Chg (Cbf) (previous +70B)

4:30 PM ET. Money Stock Measures

4:30 PM ET Foreign Central Bank Holdings

4:30 PM ET. Federal Discount Window Borrowings

Friday, September 18, 2020 

8:30 AM ET. 2^nd Quarter International Transactions

                       Current Account (USD) (expected -168.5B; previous -104.2B)

10:00 AM ET. September University of Michigan Survey of Consumers – preliminary

                       Mid-Mo Sentiment (expected 74.0; previous 72.8)

                       Mid-Mo Expectations (previous 66.5)

                       Mid-Mo Current Idx (previous 82.5)

10:00 AM ET. August Leading Indicators

                       Leading Index, M/M% (expected +1.3%; previous +1.4%)

                       Leading Index (previous 104.4)

                       Coincident Index, M/M% (previous +1.2%)

                       Lagging Index, M/M% (previous -1.0%)

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

Monday, September 21, 2020  

8:30 AM ET. August-September CFNAI Chicago Fed National Activity Index

                       NAI (previous 1.18)

                       NAI, 3-mo Moving Avg (previous 3.59)

  N/A              U.S. Treasury Market Annual Conference

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

The Dow closed higher on Wednesday as it extends the rally off last-Thursday's lowafter the Federal Reserve released an updated economic outlook that suggested that it would keep interest rates at near zero even as it sees gross domestic product improving from coronavirus lows in the coming months. The low-range close sets the stage for a steady to slightly higher opening when Thursday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Close above the 20-day moving average crossing at 28,133.15 as temper the near-term bearish outlook. If the Dow renews this summer's rally, February's high crossing at 29,568.57 is the next upside target. If the Dow renews the decline off September's high, the 50-day moving average crossing at 27,401.60 is the next downside target. First resistance is September's high crossing at 29,199.35. Second resistance is February's high crossing at 29,568.57. First support is the 50-day moving average crossing at 27,401.60. Second support is broken resistance crossing at 27,071.33.  

The December NASDAQ 100 closed sharply lower on Thursday as it extends a seven-day trading range. The low-range close sets the stage for a steady to lower opening when Thursday's night session begins  trading. Stochastics and the RSI are turning neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 11,612.30 would temper the near-term bearish outlook. If December renews the decline off September's high, the July 24^th low crossing at 10,297.00 is the next downside target. First resistance is the 20-day moving average crossing at 11,612.30. Second  resistance is September's high crossing at 12,465.25. First support is last-Friday's low crossing at 10,924.00. Second support is the July 24^th low crossing at 10,297.00.   

The December S&P 500 closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 3417.50 would confirm that a short-term top has been posted. If December resumes the decline off September's high, the 50-day moving average crossing at 3320.40 is the next downside target. First resistance is the 20-day moving average crossing at 3417.50. Second resistance is September's high crossing at 3568.80. First support is Friday's low crossing at 3323.30. Second support is the 50-day moving average crossing at 3320.40.

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

December T-bonds closed closed up 3/32's at 176-19.

December T-bonds closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Multiple closes above the 50-day moving average crossing at 177-27 are needed to confirm that a short-term low has been posted. If December renews the decline off August's high, the June 5th low crossing at 171-16 is the next downside target. First resistance is the 50-day moving average crossing at 177-27. Second resistance is August's high crossing at 181-17. First support is the August 28^th low crossing at 173-16. Second  support is the June 5^th low crossing at 171-16.

December T-notes closed down 45 pts. at 139.115.

December T-notes closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are turned neutral to bearish signaling that sideways to lower prices are possible near-term. If December resumes the decline off August's high, the June 5th low crossing at 137.025 is the next downside target. If December renews the rally off August's low, August's high crossing at 140.110 is the next upside target.  First resistance is September's high crossing at 139.290. Second resistance is August's high crossing at 140.110. First support is the August 28th low crossing at 138.185. Second support is the June 5th low crossing at 137.025.           

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

October crude oil closed higher on Wednesdayas extends the rally off last-Tuesday's low. The high-range close sets the stage for a steady to higher opening when Thursday's night session begins. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at $41.26 would signal that a short-term low has been posted. If October renews this month's decline, the June 12^th low crossing at $35.25 is the next downside target. First resistance is the 50-day moving average crossing at $41.26. Second resistance is August's high crossing at $43.78. First support is last-Tuesday's low crossing at $36.13. Second support isthe June 12th low crossing at $35.25. 

October heating oil closed higher on Wednesday as it extends the trading range of the past seven-days. The high-range close sets the stage for a steady to higher opening when Thursday's night trading session begins. Stochastics and the RSI are oversold but are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at $118.16 would confirm that a short-term low has been posted. If October extends the decline off August's high, the 75% retracement level of the April-August-rally crossing at $100.45 is the next downside target. First resistance is the 10-day moving average crossing at $111.49. Second resistance is the 20-day moving average crossing at $118.16. First support is the 62% retracement level of the April-August-rally crossing at $106.01. Second support is the 75% retracement level of the April-August-rally crossing at $100.45.

October unleaded gas closed higher on Wednesday as it extends the rally off last-Friday's low. The high-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. Multiple closes above the 20-day moving average crossing at 118.95 are needed to confirm that a short-term low has been posted. If October renews the decline off August's high, the July 30^th low crossing at 106.14 is the next downside target. First resistance is the 20-day moving average crossing at 118.95. Second resistance is September's high crossing at 129.41. Third resistance is 62% retracement level of the January-March-decline decline crossing at 130.29. First support is last-Friday's low crossing at 107.55. Second support is the July 30^th low crossing at 106.14.  

October Henry natural gas closed sharply lower on Wednesday ending a two-day short covering bounce. The low-range close sets the stage for a steady to lower opening when Thursday'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 October extends this month's decline, the August 12^th low crossing at 2.228 is the next downside target. Closes above the 20-day moving average crossing at 2.482 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 2.482. Second resistance is the reaction high crossing at 2.605. Third  resistance is August's high crossing at 2.743. First support is the August 12^th low crossing at 2.228. Second support is the July 31^st low crossing at 1.941.  

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

The December Dollar closed higher on Wednesday while extending the July-September trading range. 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 turning neutral to bearish signaling that a short-term top might be in or is near. If December 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 3^rd high crossing at 93.92 are needed to confirm that a short-term low has been posted. First resistance is the August 3^rd high crossing at 93.92. Second resistance is the 25% retracement level of the March-September-decline crossing at 94.72. First support is September's low crossing at 91.75. Second support is long-term support on the monthly continuation chart crossing at 90.21. 

The December Euro closed lower on Wednesday while extending the August-September trading range. The low-range close sets the stage for a steady to lower opening when Thursday'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 August 3^rd low crossing at 117.29 would confirm that a short-term top has been posted. If December renews the rally off March's low, the 50% retracement level of the 2018-2020 decline crossing at 121.47 is the next upside target. First resistance is September's high crossing at 120.38. Second resistance is the 50% retracement level of the 2018-2020 decline crossing at 121.47. First support is the 50-day moving average crossing at 117.54. Second support is the August 3rd low crossing at 117.29.  

The December British Pound closed higher on Wednesday as it consolidated some of this month's decline. The mid-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are oversold 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 1.3122 would signal that a short-term low has been posted. If December renews this month's decline, the 38% retracement level of the March-September rally crossing at 1.2733. First resistance is the 20-day moving average crossing at 1.3122. Second resistance is September's high crossing at 1.3488. First support isthe 38% retracement level of the March-September rally crossing at 1.2733. Second support is the July 14^th low crossing at 1.2497 is the next downside target. 

The December Swiss Franc closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening when Thursday'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 resumes the rally off May's low, the 62% retracement level of the 2018-2020 crossing at 1.1241 is the next upside target. Closes below last-Tuesday's low crossing at 1.0901 are needed confirm that a short-term top has been posted. First resistance is September's high crossing at 1.1138. Second resistance is the 62% retracement level of the 2018-2020 crossing at 1.1241. First support is last-Tuesday's low crossing at 1.0901. Second support is August's low crossing at 1.0859.

The December Canadian Dollar closed slightly higher on Wednesday. The mid-range close sets the stage for a steady to slightly higher opening when Thursday's night session begins trading. Stochastics and the RSI are neutral signaling that sideways trading is possible near-term. If December extends the decline off August's high, the 50-day moving average crossing at 75.21 is the next downside target. If December renews the rally off March's low, January's high crossing at 77.28 is the next upside target. First resistance is September's high crossing at 76.97. Second resistance is January's high crossing at 77.28. First support is the 50-day moving average crossing at 75.21. Second support is August's low crossing at 74.38.  

The December Japanese Yen closed higher on Wednesday breaking out above the August-September trading range. The high-range close sets the stage for a steady to higher opening when Friday’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 the rally off August's low, July's high crossing at 0.0961 is the next upside target. Closes below the 50-day moving average crossing at 0.0943 wold confirm that a short-term top has been posted. First resistance is today's high crossing at 0.0955. Second resistance is July's high crossing at 0.0961. First support is August's low crossing at 0.0936. Second support is the July 20^th low crossing at 0.0932.

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

October gold closed slightly higher on Wednesday as it extends the trading range of the past six-weeks.The low-range close sets the stage for a steady to lower opening when Thursday'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. Closes below last-Tuesday's low crossing at $1904.60 would open the door for a possible test of the 25% retracement level of the 2018-2020-rally crossing at $1882.10. First resistance is the August 18^th 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.

December silver closed lower on Wednesday as it extends the August-September trading range. The low-range close sets the stage for a steady to lower opening when Thursday'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 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 last-Tuesday's low crossing at 25.985 would confirm that a short-term top has been posted. First resistance is August's high crossing at 30.190. Second resistance isthe 50% retracement level of the 2011-2020 decline on the weekly continuation chart crossing at 30.727. First support is last-Tuesday's low crossing at 25.985. Second support is the 50-day moving average crossing at 25.304.   

December copper closed higher on Wednesday.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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. If December renews the rally off August's low, the 87% retracement level of the 2018-2020 decline crossing at 323.02 is the next upside target. Closes below the 50-day moving average crossing at 295.45 would confirm that a short-term top has been posted. First resistance is the 75% retracement level of the 2018-2020 decline crossing at 306.05. Second resistance is the 87% retracement level of the 2018-2020 decline crossing at 323.02. First support is the 50-day moving average crossing at 295.45. Second support is August's low crossing at 279.60.

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

December Corn closed up $0.05 3/4-cents at $3.71 3/4. 

December corn posted a key reversal up and closed higher on Wednesday.The high-range close sets the stage for a steady to higher opening when Thursday'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 62% retracement level of the 2019-2020-decline crossing at $3.84 1/4 is the next upside target. Closes below the 20-day moving average crossing at $3.57 would confirm that a short-term top has been posted. First resistance is the 50% retracement level of the 2019-2020-decline crossing at $3.72. Second resistance is the 62% retracement level of the 2019-2020-decline crossing at $3.84 1/4. First support is the 20-day moving average crossing at $3.57. Second support is the 50-day moving average crossing at $3.42 3/4.    

December wheat closed up $0.04-cents at $5.42 1/4.  

December wheat closed higher on Wednesday as it consolidated some of the decline off September'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 neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at $5.33 1/4 would open the door for a larger-degree decline near-term. Closes above the 10-day moving average crossing at $5.47 would signal that a short-term low has been posted. First resistance is September'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 50-day moving average crossing at $5.33 1/4. Second support is the reaction low crossing at $5.24.       

December Kansas City Wheat closed up $0.06 1/2-cents at $4.74 1/2.

December Kansas City wheat closed higher on Wednesday. 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 neutral to bearish signaling that sideways to lower prices are possible. Closes below the 20-day moving average crossing at $4.68 would confirm that a short-term top has been posted. If December resumes the rally off August's low, the June's high crossing at $4.95 is the next upside target. First resistance is September's high crossing at $4.90 3/4. Second resistance is June's high crossing at $4.95. First support is the 20-day moving average crossing at $4.68. Second support is the 50-day moving average crossing at $4.56.      

December Minneapolis wheat closed up $0.07 1/4-cents at $5.31 1/2.

December Minneapolis wheat closed higher on Thursday as it consolidates some of the decline off September'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 neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends this month's decline, the August's 24^th low crossing at $5.19 1/4 is the next downside target. Closes above the 10-day moving average crossing at $5.36 1/4 is the next upside target. First resistance is September's high crossing at $5.49 1/2. Second resistance is June's high crossing at $5.54 1/4. First support is the reaction low crossing at $5.19 1/4. 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 $0.20-cents at $10.11 1/2.

November soybeans posted a key reversal up and closed sharply higher on Wednesday as it extends the rally off April's low. 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If November extends this summer's rally, monthly resistance on the weekly continuation chart crossing at $10.40 is the next upside target. Closes below the 20-day moving average crossing at $9.55 would confirm that a short-term top has been posted. First resistance is today's high crossing at $10.13 3/4. Second resistance is monthly resistance on the weekly continuation chart crossing at $10.40. First support is the 10-day moving average crossing at $9.82 3/4. Second support is the 20-day moving average crossing at $9.55.

December soybean meal closed up $6.90 to $326.10. 

December soybean meal posted an key reversal up and closed higher on Wednesday as it extended the rally off August's low. 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 overbought are remain neutral to bearish signaling that sideways to higher prices are possible near-term. Closes below the 20-day moving average crossing at $310.80 would confirm that a short-term top has been posted. If December extends the rally off August's low, the 87% retracement level of the 2019-2020-decline crossing at $330.40 is the next upside target. First resistance is Monday's high crossing at $328.00. Second resistance is the 87% retracement level of the 2019-2020-decline crossing at $330.40. First support is the 10-day moving average crossing at $318.30. Second support is the 20-day moving average crossing  at $310.80.       

December soybean oil closed up 74-pts. at 34.89. 

December soybean oil closed sharply higher on Wednesday as it extended the rally off April's low. 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 becoming overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off April's low, the December 2019 high crossing at 36.41 is the next upside target. Closes below the 20-day moving average crossing at 33.05 would confirm that a short-term top has been posted. First resistance is the 87% retracement level of the December-March-decline crossing at 35.07. Second resistance is the December 2019-high crossing at 36.41. First support is the 20-day moving average crossing at 33.05. Second support is the 50-day moving average crossing at 31.46.      

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

October hogs closed down $0.75 at $64.95. 

October hogs closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening when Thursday's night 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 $58.44 would signal that a short-term top has been posted. If October extends the rally off the July 31^st low, the 62% retracement level of the 2019-2020-decline crossing at $72.53 is the next upside target. First resistance is last-Friday's high crossing at $66.90. Second resistance is the 62% retracement level of the 2019-2020-decline crossing at $72.53. First support is the 10-day moving average crossing at $62.24. Second support is the 20-day moving average crossing at $58.44.     

October cattle closed down $0.08 at $111.65. 

October cattle 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If October extends this week's rally, August's high crossing at $114.03 is the next upside target. Closes below the 10-day moving average  crossing at $109.95 would signal that short-term top has been posted. First resistance is today's high crossing at $112.48. Second resistance is August's high crossing at $114.03. First support is September's low crossing at $107.25. Second support is the July 15^th low crossing at $102.65. 

October Feeder cattle closed down $1.20-cents at $142.50. 

October Feeder cattle closed lower on Wednesday as it consolidates some of the rally off last-Wednesday's low crossing at $137.25. The low-range close sets the stage for a steady to lower opening when Thursday's session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If October extends the aforementioned rally, August's high crossing at $150.20 is the next upside target. If October renews the decline off August's high, July's low crossing at $132.38 is the next downside target. First resistance is today's high crossing at $144.00. Second resistance is August's high crossing at $150.20. First support is last-Wednesday's low crossing at $137.25. Second support is July's low crossing at $132.38.        

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

December coffee closed lower on Wednesday as it extended this month'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 December extends this month's decline, the August 11^th low crossing at 11.22 is the next downside target. If December renews the rally off August's low, the 75% retracement level of the December-June-decline crossing at 13.58 is the next upside target. 

December cocoa closed 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 bullish signaling that sideways to higher prices are possible near-term. If December renews 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 25.60 would confirm that a short-term top has been posted.                   

October 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 are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 12.41 would confirm that a short-term low has been posted. If October extends the decline off August' high, the July 24^th low crossing at 11.48 is the next downside target.                

December 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. 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. Closes below the 50-day moving average crossing at 63.75 would confirm that a short-term top has been posted.