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The Dow closed higher on Monday as it extends the rally off September's low. The mid-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices remain possible near-term. If the Dow extends the rally off September's low, September's high crossing at 29,199.35 is the next upside target. Closes below the 20-day moving average crossing at 27,715.96 would signal that a short-term top has been posted. First resistance is today's high crossing at 28,676.29. Second resistance is September's high crossing at 29,199.35. First support is the 20-day moving average crossing at 27,715.96. Second support is the 25% retracement level of the March-September-rally crossing at 26,464.30.
The December NASDAQ 100 closed sharply higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. Today's close above last-Friday's high crossing at 11,604.75 opens the door for a possible test of September's high crossing at 12,465.25. If December renews the decline off September's high, the 38% retracement level of the March-September-rally crossing at 10,354.13 is the next downside target. First resistance is today's high crossing at 11,705.50. Second resistance is September's high crossing at 12,465.25. First support is September's low crossing at 10,656.50. Second support is the 38% retracement level of the March-September-rally crossing at 10,354.13.
The December S&P 500 closed higher on Friday as it extends the rally off September's high. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off September's low, September's high crossing at 3568.80 is the next upside target. Closes below the 20-day moving average crossing at 3406.01 would confirm that a short-term top has been posted. First resistance is today's high crossing at 3451.90. Second resistance is September's high crossing at 3568.80. First support is the 10-day moving average crossing at 3346.38. Second support is September's low crossing at 3210.70.
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December T-bonds closed up 6/32's at 174-01.
December T-bonds closed higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are 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, June's low crossing at 171-16 is the next downside target. Multiple closes above the 50-day moving average crossing at 176-25 are needed to confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 176-25. Second resistance is September's high crossing at 178-17. First support is Wednesday's low crossing at 173-10. Second support is the June 5th low crossing at 171-16.
December T-notes closed up 5-pts. at 138.255.
December T-notes closed slightly higher on Friday. The mid-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are oversold 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 August 28th low crossing at 138.185 is the next downside target. Closes above the 50-day moving average crossing at 139.127 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at 139.127. 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 5th low crossing at 137.025.
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November crude oil closed lower on Friday.The low-range close sets the stage for a steady to lower opening when Monday's night session begins. 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 September 18th high crossing at $41.72 would open the door for additional gains near-term. If November renews the decline off August's high, the June 12th low crossing at $35.54 is the next downside target. First resistance is the September 18th high crossing at $41.72. Second resistance is August's high crossing at $43.78. First support is September's low crossing at $36.58. Second support is the June 12th low crossing at $35.54.
November heating oil closed slightly lower on Friday as it consolidated some of the rally off October's low. The low-range close sets the stage for a steady to lower opening when Monday's night trading session begins. Stochastics and the RSI are 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 $120.26 would open the door for additional gains off October's low. Closes below the 20-day moving average crossing at $113.81 would signal that a short-term top has been posted. First resistance is the 50-day moving average crossing at $120.26. Second resistance is the August 31st high crossing at $127.80. 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 closed lower on Friday as it extends the June-October trading range. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are becoming overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If November extends the rally off September's low, the 62% retracement level of the January-April-decline crossing at 128.26 is the next upside target. Closes below the 50-day moving average crossing at 116.81 would signal that a short-term top has been posted. First resistance is Tuesday's high crossing at 123.53. Second resistance is the 62% retracement level of the January-April-decline crossing at 128.26.the 62% retracement level of the January-April-decline crossing at 128.26. First support is October's low crossing at 109.58. Second support is September's low crossing at 106.60.
November Henry natural gas closed sharply higher on Friday as it renewed the rally off October's low. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Today's close above the 50-day moving average crossing at 2.732 has opened the door for additional short-term gains. If November extends the rally off October's low, the September 24th high crossing at 2.928 is the next upside target. First resistance is the September 24th high crossing at 2.928. Second resistance is September's high crossing at 3.002. 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.
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The December Dollar closed lower on Friday and below the 50-day moving average crossing at 93.29 opening the door for additional weakness near-term. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off September's high, the September 10th low crossing at 92.68 is the next downside target. Closes above the 10-day moving average crossing at 93.76 would signal that a short-term low has been posted. 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 September 10th low crossing at 92.68. Second support is September's low crossing at 91.75.
The December Euro closed higher on Friday as it extends the rally off September's low. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Today's close above the 50-day moving average crossing at 118.25 confirms that a short-term low has been posted. If December renews the decline off September's high, the 38% retracement level of the March-September-rally crossing at 115.42 is the next downside 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 September's low crossing at 116.30. Second support is the 38% retracement level of the March-September-rally crossing at 115.42.
The December British Pound closed higher on Friday as it extends the rally off September's low. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Today's close above the 50-day moving average crossing at 1.3033 confirms 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. First resistance is today's high crossing at 1.3049. Second resistance is September's high crossing at 1.3488. First support is the 38% retracement level of the March-September rally crossing at 1.2733. Second support is the 50% retracement level of the March-September rally crossing at 1.2502.
The December Swiss Franc closed sharply higher on Friday and above the 50-day moving average crossing at 1.0980 confirming that a short-term low has been posted. The high-range close sets the stage for a steady to higher opening when Monday's night 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 September's low, the September 10th high crossing at 1.1081 is the next upside target. Closes below Thursday's low crossing at 1.0891 would signal that a short-term top has been posted. First resistance is the September 10th high crossing at 1.1081. Second resistance is August's high crossing at 1.1138. First support is September's low crossing at 1.0781. Second support is the 38% retracement level of the March-August-rally crossing at 1.0789.
The December Canadian Dollar closed higher on Friday as it extends the rally off September's low. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the aforementioned rally, September's high crossing at 76.97 is the next upside target. Closes below the 10-day moving average crossing at 75.30 would signal that a short-term top has been posted. First resistance is today's high crossing at 75.79. Second resistance is September's high crossing at 76.97. First support is September'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 closed higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday’s night session begins trading. Stochastics and the RSI are 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, September's low crossing at 0.0940 is the next downside target. Closes above the 20-day moving average crossing at 0.0950 would signal that a short-term low has been posted. First resistance is October's high crossing at 0.0954. Second resistance is September's high crossing at 0.0963. First support is September's low crossing at 0.0940. Second support is August's low crossing at 0.0936.
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December gold closed higher on Friday as it extended this rally off September'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 neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at $1948.10 would confirm that a short-term low has been posted. If December renews the decline off August's high, the 38% retracement level of the March-August-rally crossing at $1771.40 is the next downside target. First resistance is the 50-day moving average crossing at $1948.10. Second resistance is the September 16th high crossing at $1983.80. First support is the September 24th low crossing at $1851.00. Second support is the 38% retracement level of the 2018-2020-rally crossing at $1771.40.
December silver closed higher on Friday as it extends the rally off September's low. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Today's close above the 20-day moving average crossing at 24.738 signals that a short-term low has been posted. If December renews the decline off August's high, the 50% retracement level of the March-August-rally crossing at 20.953 is the next downside target. First resistance is the 50-day moving average crossing at 26.212. Second resistance is the September 15th high crossing at 27.865. 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 closed higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If December renewed the rally off March'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 298.30 would signal that a short-term top has been posted. First resistance is September's high crossing at 312.10. Second resistance is the 87% retracement level of the 2018-2020 decline crossing at 323.02. First support is October's low crossing at 283.45. Second support is August's low crossing at 279.60.
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December Corn closed up 8-cents at $3.95.
December corn closed higher on Friday and tested the 75% retracement level of the 2019-2020-decline crossing at $3.98 as it extended the rally off August's low. The high-range close sets the stage for a steady to higher opening when Monday's night sessions begins trading. Stochastics and the RSI are 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 2019-2020-decline crossing at $4.10 1/2 is the next upside target. Closes below the 20-day moving average crossing at $3.75 1/4 would confirm that a short-term 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 is the next upside target. First support is the 10-day moving average crossing at $3.80 3/4. Second support is the 20-day moving average crossing at $3.75 1/4.
December wheat closed down $0.3-cents at $5.92 1/4.
December wheat closed lower on Friday as it consolidates some of the rally off June's low. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at $5.65 1/4 would confirm that a short-term top has been posted. If December extends the rally off June's low, the October-2018 high crossing at $6.21 is the next upside target. First resistance is Thursday's high crossing at $6.16 3/4. Second resistance is the October-2018 high crossing at $6.21. First support is the 10-day moving average crossing at $5.79. Second support is the 20-day moving average crossing at $5.65 1/4.
December Kansas City Wheat closed up $0.06-cents at $5.34 3/4.
December Kansas City wheat closed higher on Friday. The mid-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are 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 $4.99 1/4 would confirm that a short-term top has been posted. If December extends the rally off August's low, the 75% retracement level of the 2018-2020-decline crossing at $5.79 3/4 is the next upside target.First resistance is the 62% retracement level of the 2018-2020-decline crossing at $5.51 3/4. Second resistance is the 75% retracement level of the 2018-2020-decline crossing at $5.79 3/4. First support is the 10-day moving average crossing at $5.15. Second support is the 20-day moving average crossing at $4.99 1/4.
December Minneapolis wheat closed up $0.01 1/4-cents at $5.43 3/4.
December Minneapolis wheat closed higher on Friday. The low-range close sets the stage for a steady to slightly higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off August's low, the April 4th high crossing at $5.67 is the next upside target. Closes below September's low crossing at crossing at $5.22 1/2 would confirm that a short-term top has been posted. First resistance is Thursday's high crossing at $5.54 3/4. Second resistance is the April 4th high crossing at $5.67. First support is September's low crossing at $5.22 1/2. Second support is August's low crossing at $5.06 1/2.
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November soybeans closed up $0.15 1/2-cents at $10.65 1/2.
November soybeans closed higher on Friday as it extends this fall's rally. The mid-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are 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 $10.82 1/2 is the next upside target. Closes below the 20-day moving average crossing at $10.20 1/2 would confirm that a short-term top has been posted. First resistance is today's high crossing at $10.79 3/4. Second resistance is monthly resistance on the monthly continuation chart crossing at $10.82 1/2. First support is the 10-day moving average crossing at $10.28 1/4. Second support is the 20-day moving average crossing at $10.20 1/2.
December soybean meal closed up $4.40 to $364.00.
December soybean meal posted an inside day with a higher close on Friday as it extends the rally off August's low. The mid-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are overbought and are turning neutral to bearish hinting that a short-term top might be in or is near. If December extends the rally off August's low, monthly resistance crossing at $404.90 is the next upside target. Closes below the 20-day moving average crossing at $341.80 would confirm that a short-term top has been posted. First resistance is Thursday's high crossing at $369.50. Second resistance is monthly resistance crossing at $404.90. First support is the 10-day moving average crossing at $349.50. Second support is the the 20-day moving average crossing at $341.80.
December soybean oil closed up 105-pts. at 34.05.
December soybean oil closed sharply higher on Friday as it extended the rally off October's low. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends today's rally, September's high crossing at 35.49 is the next upside target. Closes below the 20-day moving average crossing at 32.60 would signal that a short-term top has been posted. First resistance is today's high crossing at 34.41. Second resistance is September's high crossing at 35.49. First support is Monday's low crossing at 31.47. Second support is the 50% retracement level of the March-September-rally crossing at 30.68.
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October hogs closed up $0.80 at $78.15.
October hogs closed higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to higher signaling that sideways to higher prices are possible near-term. If October extends the rally off June's low, the 87% retracement level of the 2019-2020-decline crossing at $83.16 is the next upside target. Closes below the 20-day moving average crossing at $71.13 would signal that a short-term top has been posted. First resistance is the 75% retracement level of the 2019-2020-decline crossing at $78.10. Second resistance is the 87% retracement level of the 2019-2020-decline crossing at $83.16. First support is the 10-day moving average crossing at $75.00. Second support is the 20-day moving average crossing at $71.13.
October cattle closed up $0.45 at $110.15
October cattle closed higher on Friday. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If October extends the rally off September's low, August's high crossing at $111.15 is the next upside target. Closes below the 50-day moving average crossing at $107.67 would signal that short-term top has been posted. First resistance is today's high crossing at $110.38. 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 $0.45-cents at $138.50.
October Feeder cattle closed higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday'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, the July 8th low crossing at $135.75 is the next downside target. Closes above the 20-day moving average crossing at $140.91 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 Wednesday's low crossing at $136.80. Second support is the July 8th low crossing at $135.75.
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December coffee closed higher on Friday. The mid-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher 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 11.24 would confirm that a short-term low has been posted.
December cocoa closed lower on Friday. The mid-range close sets the stage for a steady to lower opening on Monday. 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 25.51 would signal that a short-term low has been posted.
March sugar closed higher on Friday as it extends the rally off September's low. The high-range close set the stage for a steady to higher opening on Friday. 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, the 87% retracement level of the February-April-decline crossing at 14.48 is the next upside target. Closes below the 20-day moving average crossing at 13.43 would signal that a short-term top has been posted.
December cotton closed slightly higher on Friday. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If December renews the rally off April's low, the 87% retracement level of the January-April-decline crossing at 70.08 is the next upside target. Closes below the 50-day moving average crossing at 64.95 would confirm that a short-term top has been posted.