KEY EVENTS TO WATCH FOR:
Tuesday, October 6, 2020
7:45 AM ET. Weekly Chain Store Sales Index
8:30 AM ET. August U.S. International Trade in Goods & Services
Trade Balance (USD) (previous -63.56B)
Exports (USD) (previous 168.11B)
Exports, M/M% (previous +8.1%)
Imports (USD) (previous 231.67B)
Imports, M/M% (previous +10.9%)
8:55 AM ET. Johnson Redbook Retail Sales Index
Ret Sales Mo-to-Date, M/M% (previous -0.3%)
Ret Sales Mo-to-Date, Y/Y% (previous +0.6%)
Latest Wk, Y/Y% (previous +2.2%)
10:00 AM ET. October IBD/TIPP Economic Optimism Index
Economic Optimism Idx (previous 45.0)
6-Mo Economic Outlook (previous 41.5)
10:00 AM ET. August Job Openings & Labor Turnover Survey
4:30 PM ET. API Weekly Statistical Bulletin
Crude Stocks, Net Chg (Bbls) (previous -0.8M)
Gasoline Stocks, Net Chg (Bbls) (previous +1.6M)
Distillate Stocks, Net Chg (Bbls) (previous -3.4M)
Wednesday, October 7, 2020
7:00 AM ET. MBA Weekly Mortgage Applications Survey
Composite Idx (previous 776.7)
Composite Idx, W/W% (previous +6.8%)
Purchase Idx-SA (previous 320.9)
Purchase Idx-SA, W/W% (previous +3.4%)
Refinance Idx (previous 3579.8)
Refinance Idx, W/W% (previous -6.5%)
9:00 AM ET. G24 Deputies Meeting
10:00 AM ET. SEC Open Meeting
10:00 AM ET. September Online Help Wanted Index
10:30 AM ET. EIA Weekly Petroleum Status Report
Crude Oil Stocks (Bbl) (previous 492.426M)
Crude Oil Stocks, Net Chg (Bbl) (previous -1.98M)
Gasoline Stocks (Bbl) (previous 228.182M)
Gasoline Stocks, Net Chg (Bbl) (previous +0.683M)
Distillate Stocks (Bbl) (previous 172.758M)
Distillate Stocks, Net Chg (Bbl) (previous -3.184M)
Refinery Usage (previous 75.8%)
Total Prod Supplied (Bbl/day) (previous 17.447M)
Total Prod Supplied, Net Chg (Bbl/day) (previous -0.992M)
3:00 PM ET. August Consumer Credit
Consumer Credit Net Chg (USD) (previous +12.3B)
Thursday, October 8, 2020
8:30 AM ET. Unemployment Insurance Weekly Claims Report - Initial Claims
Jobless Claims (previous 837K)
Jobless Claims, Net Chg (previous -36K)
Continuing Claims (previous 11767000)
Continuing Claims, Net Chg (previous -980K)
8:30 AM ET. U.S. Weekly Export Sales
Corn (Metric Tons) (previous 2027.1K)
Soybeans (Metric Tons) (previous 2591.2K)
Wheat (Metric Tons) (previous 507.6K)
9:45 AM ET. Bloomberg Consumer Comfort Index
10:30 AM ET. EIA Weekly Natural Gas Storage Report
Working Gas In Storage (Cbf) (previous 3756B)
Working Gas In Storage, Net Chg (Cbf) (previous +76B)
12:00 AM ET. September Monthly U.S. Retail Chain Store Sales Index
4:30 PM ET. Money Stock Measures
4:30 PM ET. Federal Discount Window Borrowings
4:30 PM ET. Foreign Central Bank Holdings
Friday, October 9, 2020
10:00 AM ET. August-October Monthly Wholesale Trade
Inventories, M/M% (previous -0.3%)
12:00 PM ET. World Agricultural Supply & Demand Estimates (WASDE)
Corn, End Stocks (Bushels)
Soybeans, End Stocks (Bushels)
Wheat, End Stocks (Bushels)
Cotton, End Stocks (Bales)
The STOCK INDEXES http://quotes.ino.com/exchanges/?c=indexes"
The STOCK INDEXES:The December NASDAQ 100 were lower overnight as it consolidates some of Monday's rally. The low-range trade sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 11,216.53 would signal that a short-term top has been posted. If the NASDAQ 100 resumes the rally off September's low, September's high crossing at 12,444.75 is the next upside target. First resistance last-Friday's high crossing at 11,604.75. Second resistance is September's high crossing at 12,444.75. First support is the 38% retracement level of the March-August-rally crossing at 10,354.13. Second support is the 50% retracement level of the March-August-rally crossing at 9,702.96.
The December S&P 500 was slightly lower overnight.The low-range overnight trade sets the stage for a steady to lower opening when the day session begins trading later this morning.Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off September's low, the September 16th high crossing at 3412.00 is the next upside target. Closes below the 10-day moving average crossing at 3318.73 would confirm that a short-term top has been posted. First resistance is the September 16th high crossing at 3412.00. Second resistance is September's high crossing at 3524.50. First support is the 25% retracement level of the March-August-rally crossing at 3228.49. Second support is the 38% retracement level of the March-August-rally crossing at 3049.78.
INTEREST RATES http://quotes.ino.com/ex changes/?c=interest"
INTEREST RATES: December T-bonds were higher overnight as it consolidates some of Monday's sharp decline. The mid-range overnight trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below August's low crossing at 173-16 would open the door for a possible test of June's low crossing at 171-16. Closes above the 50-day moving average crossing at 177-05 would confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 177-05. Second resistance is September's high crossing at 178-17. First support is August's low crossing at 173.16. Second support is June's low crossing at 171-16.
December T-notes were higher overnight as it consolidates some of Monday's sharp decline. The high-range overnight trade sets the stage for a steady to higher opening with the day session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends Monday's decline, August's low crossing at 138.185 is the next downside target. Closes above the 20-day moving average crossing at 139.141 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 139.141. Second resistance is September's high crossing at 139.290. First support is the August 28th low crossing at 138.185. Second support is the June 16th low crossing at 138.135.
ENERGY MARKETS? http://quotes.ino.com/ex?changes/?c=energy ""
November crude oil was slightly higher overnight as it extends Monday's rally.The high-range overnight trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at $41.09 would confirm that a short-term low has been posted. Closes below September's low crossing at $36.58 would renew the decline off August's high. First resistance is the 50-day moving average crossing at $41.09. Second resistance is August's high crossing at $44.05. First support is September's low crossing at $36.58. Second support is the June 12th low crossing at $35.54.
November heating oil was higher overnight as it extends Monday's short covering rally. The high-range overnight trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the September 18th high crossing at $118.58 are needed to confirm that a short-term low has been posted. If November renews the decline off August's high, the 75% retracement level of the April-August-rally crossing at $103.63 is the next downside target. First resistance is the September 18th high crossing at $118.58. Second resistance is the 50-day moving average crossing at $120.80. First support is the 62% retracement level of the April-August-rally crossing at 108.97. Second support is the 75% retracement level of the April-August-rally crossing at $103.63.
November unleaded gas was higher overnight as it extends Monday's rally. The high-range overnight trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If November resumes the rally off September's low, August's high crossing at $124.62 is the next upside target. Closes below last-Friday's low crossing at $109.58 would open the door for a possible test of September's low crossing at $106.60. First resistance is the September 18th high crossing at $121.42. Second resistance is August's high crossing at $124.62. First support is September's low crossing at $106.60. Second support is the July 30th low crossing at $105.01.
November Henry natural gas was higher overnight as it extends Monday's short covering rally. The high-range overnight trade sets the stage for a steady to higher opening when the day session begins trading.Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 2.725 would confirm that a short-term low has been posted. If November renews the decline off September's high, the 75% retracement level of the June-September-rally crossing at 2.348 is the next downside target.First resistance is the 50-day moving average crossing at 2.725. Second resistance is the September 24th high crossing at 2.928. First support is the 75% retracement level of the June-September-rally crossing at 2.348. Second support is the 87% retracement level of the June-September-rally crossing at 2.244.
CURRENCIEShttp://quotes.ino.com/ex changes/?c=currencies"
CURRENCIES:The December Dollar was slightly higher overnight as it consolidates some of Monday's decline. The high-range overnight trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at 93.27 would confirm that a short-term top has been posted.If December renews the rally off September's low, the 38% retracement level of the March-September-decline crossing at $96.33 is the next upside target. First resistance is the 25% retracement level of the March-September-decline crossing at $94.72. Second resistance is the 38% retracement level of the March-September-decline crossing at $96.33. First support is the 50-day moving average crossing at 93.27. Second support is the September 10th low crossing at $92.68.
The December Euro was slightly lower in overnight trading as it consolidates some of Monday's gains. The mid-range overnight trade sets the stage for a steady to slightly lower opening when the day session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at $118.27 would confirm that a short-term low has been posted. If December resumes the decline off September's high, the 38% retracement level of the March-August-rally crossing at $115.42 is the next downside target. First resistance is the 50-day moving average crossing at $118.27. Second resistance is September's high crossing at $120.38. First support is September's low crossing at $116.31. Second support is the 38% retracement level of the March-August-rally crossing at $115.42.
The December British Pound was lower overnight as it consolidates some of the rally off September's low. The low-range overnight trade sets the stage for a steady to lower opening when the day session beings trading. Stochastics and the RSI are becoming overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 1.3036 would signal that a short-term low has been posted. If December renews the decline off September's high, the 50% retracement level of the March-September-rally crossing at 1.2502 is the next downside target. First resistance is the 50-day moving average crossing at 1.3036. Second resistance is September's high crossing at 1.3483. First support is the 38% retracement level of the March-August-rally crossing at 1.2733. Second support is the 50% retracement level of the March-August-rally crossing at 1.2502.
The December Swiss Franc was steady to slightly higher overnight as it extends the rebound off the 38% retracement level of the March-August-rally crossing at 1.0789. The mid-range overnight trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 1.0983 would signal that a short-term low has been posted. Closes below the 10-day moving average crossing at 1.0875 would confirm that a short-term top has been posted. First resistance is the 50-day moving average crossing at 1.0983. Second resistance is the September 10th high crossing at 1.1081. First support is the 38% retracement level of the March-August-rally crossing at 1.0789. Second support is the 50% retracement level of the March-August-rally crossing at 1.0679.
The December Canadian Dollar was slightly higher overnight as it extends the rally off last-Wednesday's low. The mid-range trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 75.52 would signal that a short-term low has been posted. If December resumes the decline off September's high, the 38% retracement level of the March-September-rally crossing at 73.72 is the next downside target. First resistance is the 50-day moving average crossing at 75.52. Second resistance is September's high crossing at 76.97. First support is last-Wednesday's low crossing at 74.53. Second support is the 38% retracement level of the March-September-rally crossing at 73.72.
The December Japanese Yen was higher overnight as it consolidates some of Monday's decline. The mid-range overnight trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. Multiple closes below the 50-day moving average crossing at 0.0947 would open the door for a possible test of September's low crossing at 0.0940. Closes above last-Friday's high crossing at 0.0954 are needed to confirm that a short-term low has been posted. First resistance is last-Friday's high crossing at 0.0954. Second resistance is September's high crossing at 0.0963. First support is the 50-day moving average crossing at 0.0947. Second support is September's low crossing at 0.0940.
PRECIOUS METALS http://quotes.ino.com/ex changes/?c=metals"
PRECIOUS METALS: December gold was steady to slightly higher overnight. The high-range overnight trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at $1921.00 are needed to confirm that a short-term low has been posted. If December resumes the decline off August's high, the 38% retracement level of the 2018-2020-rally crossing at $1771.40 is the next downside target. First resistance is the 20-day moving average crossing at $1921.00. Second resistance is the 50-day moving average crossing at $1953.00. First support is September's low crossing at $1851.00. Second support is the 38% retracement level of the 2018-2020-rally crossing at $1771.40.
December silver was steady to slightly lower overnight. The high-range overnight trade sets the stage for a steady to slightly lower opening when the day session begins trading later this morning. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at $25.205 would confirm that a short-term low has been posted. If December resumes this month's decline, the 50% retracement level of the March-August-rally crossing at $20.953 is the next downside target. First resistance is the 20-day moving average crossing at 25.205. Second resistance is the 50-day moving average crossing at $26.243. First support is September's low crossing at $21.810. Second support is the 50% retracement level of the March-August-rally crossing at $20.953.
December copper was steady to slightly lower overnight. The low-range overnight trade sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are neutral signaling that sideways trading is possible near-term. If December extends last-week's decline, August's low crossing at 2.7960 is the next downside target. Closes above last-Thursday's high crossing at 3.0465 would confirm that a short-term low has been posted. First resistance is September's high crossing at 3.1210. Second resistance is the 87% retracement level of the 2018-2020 decline crossing at 3.2302. First support is last-Friday's low crossing at 2.8345. Second support is August's low crossing at 2.7960.
GRAINS http://quotes.ino.com/ex changes/?c=grains
December corn was higher overnight as it extends the trading range of the past three trading days. The high-range trade sets the stage for a steady to higher opening when the day sessions 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, the 75% retracement level of the 2019-2020 decline crossing at $3.98 is the next upside target. Closes below last-Monday's low crossing at $3.60 1/2 would confirm that a top has been posted. First resistance is the 75% retracement level of the 2019-2020 decline crossing at $3.98. Second resistance is the 87% retracement level of the 2019-2020 decline crossing at $4.10 1/2. First support is the 20-day moving average crossing at $3.71 1/4. Second support is last-Monday's low crossing at $3.60 1/2.
December wheat was steady to fractionally lower overnight as it consolidates some of Monday's rally. The high-range trade sets the stage for a steady to fractionally lower opening when the day 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 June's low, January's high crossing at $5.99 1/2 is the next upside target. Closes below the 20-day moving average crossing at $5.57 would signal that a short-term top has been posted. First resistance is the 87% retracement level of the March-June-decline crossing at $5.84. Second resistance is January's high crossing at $5.99 1/2. First support is the 20-day moving average crossing at $5.57. Second support is the 50-day moving average crossing at $5.40 1/2.
December Kansas City wheat was higher overnight as it extends the rally off August's low. The high-range close sets the stage for a steady to higher opening when the day 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, the 62% retracement level of the 2018-2020-decline crossing at $5.51 3/4 is the next upside target. Closes below the 20-day moving average crossing at $4.89 1/4 would signal that a short-term top has been posted. First resistance is the 50% retracement level of the 2018-2020-decline crossing at $5.26 3/4. Second resistance is the 62% retracement level of the 2018-2020-decline crossing at $5.51 3/4. First support is the 10-day moving average crossing at $4.97 3/4. Second support is the the 20-day moving average crossing at $4.89 1/4.
December Minneapolis wheat was higher overnight as it consolidates some of the decline off the late-September high. The high-range overnight trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If December renews the rally off the late-September low, the September 30th high crossing at $5.47 1/2 is the next upside target. Closes below the September 15th low crossing at $5.22 1/2 would open the door for a possible test of the August 24th low crossing at $5.19 1/4. First resistance is the September 30th high crossing at $5.47 1/2. Second resistance is September's high crossing at $5.54 3/4. First support is the September 15th low crossing at $5.22 1/2. Second support is the August 24th low crossing at $5.19 1/4.
SOYBEAN COMPLEX? http://quotes.ino.com/ex?changes/?c=grains "
November soybeans were higher overnight as they extend last-week's rally. The high-range trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If November renews this summer's rally, monthly resistance crossing at $10.82 1/2 is the next upside target. Closes below last-Tuesday's low crossing at $9.85 3/4 would confirm that a short-term top has been posted while opening the door for additional weakness near-term.First resistance is September's high crossing at $10.46 3/4. Second resistance is monthly resistance crossing at $10.82 1/2. First support is last-Tuesday's low crossing at $9.85 3/4. Second support is the 38% retracement level of the April-September-rally crossing at $9.64 1/4.
December soybean meal was higher overnight as it consolidates some of Monday's decline. The high-range trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends this summer's rally, monthly resistance crossing at $354.50 is the next upside target. Closes below the 20-day moving average crossing at $335.20 would signal that a short-term top has been posted. First resistance is last-Friday's high crossing at $354.10. Second resistance is monthly resistance crossing at $354.50. First support is the 20-day moving average crossing at $335.20. Second support is the September 16th low crossing at $317.90.
December soybean oil gapped up and was higher overnight as it extends Monday's sharp rally. The high-range trade sets the stage for a steady to higher opening when the day 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 33.40 would signal that a short-term low has been posted. If December extends the decline off September's high, the 50% retracement level of the March-September-rally crossing at 30.68 is the next downside target. First resistance is the 20-day moving average crossing at 33.40. Second resistance is September's high crossing at 35.49. First support is the 38% retracement level of the March-September-rally crossing at 31.82. Second support is the 50% retracement level of the March-September-rally crossing at 30.68.
LIVESTOCKhttp://quotes.ino.com/exchanges/?c=livestock
October hogs closed up $0.30 at $74.80.
October hogs 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 higher signaling that sideways to higher prices are possible near-term. If October extends the rally off June's low, the 75% retracement level of the 2019-2020-decline crossing at $78.10 is the next upside target. Closes below the 20-day moving average crossing at $68.28 would signal that a short-term top has been posted. First resistance is last-Friday's high crossing at $75.43. Second resistance is the 75% retracement level of the 2019-2020-decline crossing at $78.10. First support is the 10-day moving average crossing at $72.00. Second support is the 20-day moving average crossing at $68.28.
October cattle closed up $0.60 at $108.78
October cattle closed higher on Monday. The mid-range close sets the stage for a steady to 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 20-day moving average crossing at $107.17 would signal that short-term top has been posted. If October extends the rally off September's low, August's high crossing at $111.15 is the next upside target. First resistance is last-Thursday's high crossing at $109.43. Second resistance is August's high crossing at $111.15. First support is the September 22nd low crossing at $106.15. Second support is September's low crossing at $103.37.
October Feeder cattle closed up $0.35-cents at $140.25.
October Feeder cattle closed higher on Monday. The mid-range close sets the stage for a steady opening when Tuesday's session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If October renews the decline off last-Tuesday's high, September's low crossing at $137.25 is the next downside target. Closes above last-Tuesday's high crossing at $143.65 would confirm that a short-term low has been posted. First resistance is September's high crossing at $144.00. Second resistance is August's high crossing at $150.20. First support is September'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 Monday. The mid-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 December extends the decline off September's high, the 87% retracement level of the June-September rally crossing at 10.18 is the next downside target. Closes above the 20-day moving average crossing at 11.65 would confirm that a short-term low has been posted.
December cocoa closed lower on Monday. 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 December extends the decline off September's high, August's low crossing at 23.55 is the next downside target. Closes above the 20-day moving average crossing at 25.73 would signal that a short-term low has been posted.
March sugar closed slightly higher on Monday. The mid-range close set 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 March extends the rally off September's low, August's high crossing at 13.77 is the next upside target. Closes below the 20-day moving average crossing at 13.13 would signal that a short-term top has been posted.
December cotton closed slightly higher on Monday. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are neutral to bearish signaling that a short-term top might be in or is near. Closes below the 50-day moving average crossing at 64.51 would confirm that a short-term top has been posted. If December renews 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!
Major hurricane Delta:
https://www.marketforum.com/forum/topic/59336/
South America weather: