INO Evening Market Comments
0 responses | 0 likes
Started by tallpine - Oct. 16, 2020, 4:50 p.m.

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



The Dow closed higher on Friday as retail sales, consumer sentiment rise. 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 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 27,902.16 would signal that a short-term top has been posted. First resistance is Monday's high crossing at 28,957.90. Second resistance is September's high crossing at 29,199.35. First support is the 20-day moving average crossing at 27,902.16. Second support is the 25% retracement level of the March-September-rally crossing at 26,464.30. 



The December NASDAQ 100 closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term.  Closes below the 50-day moving average crossing at 11,453.53 would confirm that a short-term top has been posted. If December renews the rally off September's low, September's high crossing at 12,465.25 is the next upside target. First resistance is  Monday's high crossing at 12,197.00. Second resistance is September's high crossing at 12,465.25. First support is the 50-day moving average crossing at 11,453.53. Second support is September's low crossing at 10,656.50.   



The December S&P 500 closed lower on Friday. 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 overbought and are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 3380.61 would confirm that a short-term top has been posted. If December extends the rally off September's low, September's high crossing at 3516.60 is the next upside target. First resistance is Monday's high crossing at 3498.10. Second resistance is September's high crossing at 3516.60. First support is the 10-day moving average crossing at 3454.06. Second support is the 20-day moving average crossing at 3380.61.  



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



December T-bonds closed down 16/32's at 174-23.

  

December T-bonds closed lower on Friday. The mid-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 bullish signaling that a low might be in or is near. Multiple closes above the 50-day moving average crossing at 176-07 are needed to confirm that a short-term low has been posted. If December renews the decline off September's high, June's low crossing at 171-16 is the next downside target. First resistance is the 50-day moving average crossing at 176-07. Second resistance is the September 29th high crossing at 177-12. First support is October's low crossing at 173-10. Second support is the June 5th low crossing at 171-16.



December T-notes closed down 40-pts. at 139.000.



December T-notes closed lower on Friday. The mid-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral signaling that sideways trading is possible near-term. Closes above the 50-day moving average crossing at 139.096 would signal that a short-term low has been posted. If December extends the decline off September's high, the August 28th low crossing at 138.185 is the next downside target. First resistance is the 50-day moving average crossing at 139.096. Second resistance is the September 29th high crossing at 139.260. 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 ""



November crude oil closed slightly lower on Friday. The high-range close sets the stage for a steady to higher opening when Monday's night 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 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 lower on Friday as it consolidated some of the rally off October's low. The mid-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 $119.22 would open the door for additional gains off October's low. Closes below the 20-day moving average crossing at $114.75 would signal that a short-term top has been posted. First resistance is the 50-day moving average crossing at $119.22. Second resistance is the August 31st high crossing at $127.80. First support is the 20-day moving average crossing at $114.75. Second support is the 62% retracement level of the April-August-rally crossing at $108.97. 



November unleaded gas closed lower on Monday as it extends the June-October trading range. The mid-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 sideways to lower prices   are possible near-term. Today's close below the 50-day moving average crossing at 117.35 would signal that a short-term top has been posted. 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. First resistance is last-Tuesday's high crossing at 123.53. Second resistance is 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 lower on Friday. 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 November resumes the rally off October's low, September's high crossing at 3.002 is the next upside target. First resistance is Monday's high crossing at 2.955. Second resistance is September's high crossing at 3.002. First support is the 20-day moving average crossing at 2.669. Second support is the 75% retracement level of the   June-September-rally crossing at 2.348. 



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



The December Dollar closed lower on Friday as it remains above the 50-day moving average crossing at 93.33. The mid-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI remain neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 93.81 would signal   that a short-term low has been posted. If December renews the decline off September's high, the September 10th low crossing at 92.68 is the next downside 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 September 10th low crossing at 92.68. Second support is September's low crossing at 91.75. 



The December Euro posted an inside day with a higher close on Monday as it consolidates some of the rally off September's low. The mid-range close sets the stage for a steady opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes above last-Friday's high crossing at 118.48 are needed to confirm 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. 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 bearish signaling that sideways to higher prices are possible near-term. If December extends the rally off September's low, the August 6th high crossing at 1.3191 is the next upside target. Closes below the 20-day moving average crossing at 1.2895 would signal that a short-term top has been posted. First resistance is Monday's high crossing at 1.3086. Second resistance is the August 6th high crossing at 1.3191. First support is the 20-day moving average crossing at 1.2895. Second support is September's low crossing at 1.2679. Third support is the 50% retracement level of the March-September rally crossing at 1.2502. 

 

The December Swiss Franc closed lower on Friday. 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 sideways to lower prices are possible near-term. Closes below last-Thursday's low crossing at 1.0891 would signal that a short-term top has been posted. If December resumes the rally off September's low, the September 10th high crossing at 1.1081 is the next upside target. 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 50% retracement level of the March-August-rally crossing at 1.0679.



The December Canadian Dollar closed higher on Friday as it consolidates some of this week's decline. 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 bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 75.38 would signal that a short-term top has been posted. If December extends the rally off September's low, September's high crossing at 76.97 is the next upside target. First resistance is Tuesday's high crossing at 76.35. Second resistance is September's high crossing at 76.97. First support is last-Wednesday's low crossing at 74.96. Second support is September's low crossing at 74.53. Third support is the 38% retracement level of the March-September-rally crossing at 73.72. 



The December Japanese Yen closed unchanged on Friday. 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 bullish signaling that sideways to higher prices are possible near-term. Closes above October's high crossing at 0.0954 would signal that a short-term low has been posted. If December renews the decline off September's high, September's low crossing at 0.0940 is the next downside target. 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.



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



December gold closed lower on Friday. 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 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. Closes above the 50-day moving average crossing at $1936.00 would confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at $1936.00. Second resistance is the September 16th high crossing at  $1983.80. First support is last-Wednesday's low crossing at $1877.10. Second support is the September 24th low crossing at $1851.00.



December silver 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  bearish signaling that sideways to higher prices are possible near-term. Closes below last-Tuesday's low crossing at 22.965 would signal that a short-term top has been posted. If December extends the rally off September's low, the 50-day moving average crossing at 26.012 is the next upside target. First resistance is the 50-day moving average crossing at 26.012. 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 lower on Friday. 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 overbought but  remain 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 299.68 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.



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



December Corn closed down 1 1/4-cents at $4.02 1/2. 



December corn closed lower on Friday due to profit taking ahead of the weekend. The low-range close sets the stage for a steady to lower 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 $3.81 1/4 would confirm that a short-term top has been posted. First resistance is the 87% retracement level of the 2019-2020-decline crossing at $4.09. 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 $3.91 3/4. Second support is the 20-day moving average crossing at $3.81 1/4.   



December wheat closed up $0.08 3/4-cents at $6.26 1/2.  



December wheat 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 bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off June's low, monthly resistance crossing at $6.66 1/4 is the next upside target. Closes below the 20-day moving average crossing at $5.79 would confirm that a short-term top has been posted. First resistance is today's high crossing at $6.30 3/4. Second resistance is monthly resistance crossing at $6.66 1/4. First support is the 10-day moving average crossing at $6.00 1/2. Second support is the 20-day moving average crossing at $5.79.       



December Kansas City Wheat closed down a $0.00 1/2-cent at $5.59.

 

December Kansas City wheat closed lower on Friday. The mid-range close sets the stage for a steady to lower 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. 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. Closes below the 20-day moving average crossing at $5.14 1/2 would confirm that a short-term top has been posted. First resistance is today's high crossing at $5.65 1/4. 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 $5.38 1/2. Second support is the 20-day moving average crossing at $5.14 1/2.     



December Minneapolis wheat closed up $0.01-cent at $5.59 3/4. 



December Minneapolis wheat closed higher on Friday. 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 hinting 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 $5.73 1/2 is the next upside target. Closes below the 20-day moving average crossing at crossing at $5.39 1/2 would signal that a short-term top has been posted. First resistance is today's high crossing at $5.66. Second resistance is the 62% retracement level of the 2019-2020-decline crossing at $5.73 1/2. First support is the 10-day moving average crossing at crossing at $5.46. Second support is the 20-day moving average  crossing at $5.39 1/2.     

     

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



November soybeans closed down $0.11 1/2-cents at $10.50 3/4.



November soybeans closed lower on Friday. 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 overbought, diverging and are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at $10.29 1/4 would confirm that a short-term top has been posted. 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. First resistance is last-Friday'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 20-day moving average crossing at $10.29 1/4. Second support is the 50-day moving average crossing at $9.77 1/2.



December soybean meal closed down $3.90 to $368.20. 



December soybean meal closed lower on Friday. 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 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, monthly resistance crossing at $404.90 is the next upside target. Closes below the 20-day moving average crossing at $350.30 would confirm that a short-term top has been posted. First resistance is today's high crossing at $374.90. Second resistance is monthly resistance crossing at $404.90. First support is the 10-day moving average crossing at $360.10. Second support is the the 20-day moving average crossing  at $350.30.       



December soybean oil closed down 17-pts. at 33.00. 



December soybean oil closed lower on Friday. 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 sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at 32.83 would signal that a short-term top has been posted. If December extends the rally off October's low, September's high crossing at 35.49 is the next upside target. First resistance is Monday's high crossing at 34.46. Second resistance is September's high crossing at 35.49. First support is October's low crossing at 31.47. Second support is the 50% retracement level of the March-September-rally crossing at 30.68.      

 

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



December hogs closed down $1.00 at $69.78. 



December hogs closed lower on Friday as it consolidated some of the rally off October's low. The mid-range close sets the stage for a steady to lower 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 December extends the rally off June's low, the October-2019 high crossing at $72.00 is the next upside target. Closes below the 20-day moving average crossing at $64.85 would signal that a short-term top has been posted. First resistance is the 87% retracement level of the 2019-2020-decline crossing at $70.11. Second resistance is the October-2019 high crossing at $72.00. First support is the 10-day moving average crossing at $66.56. Second support is the 20-day moving average crossing at $64.85.     



December cattle closed down $0.60 at $108.95 



December cattle closed lower on Friday as it extends this week's decline. 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 today's decline, the September 2nd low crossing at $107.25 is the next downside target. Closes above the 20-day moving average crossing at $111.51 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at $111.51. Second resistance is September's high crossing at $113.58. First support is today's low crossing at $108.12. Second support is September's low crossing at $107.25. 



November Feeder cattle closed down $1.72-cents at $134.72. 


November Feeder cattle closed lower on Friday as it extended the decline off August's high. The low-range close sets the stage for a steady to lower opening when Monday'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 November extends the decline off September's high, July's low crossing at $133.23 is the next downside target. Closes above the 20-day moving average crossing at $139.18 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at $136.74. Second resistance is the 20-day moving average crossing at $139.18. First  support is today's low crossing at $134.20. Second support is July's low  crossing at $133.23.        



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



December coffee closed lower on Friday. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If December resumes 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 Monday's high crossing at 11.34 would confirm that a short-term low has been posted. 



December cocoa closed higher on Friday. The high-range close sets the stage for a steady to higher 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, July's low crossing at 21.15 is the next downside target. Closes above the 20-day moving average crossing at 24.89 would signal that a short-term low has been posted.                   



March sugar closed higher on Friday. The high-range close set 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 March extends the rally off September's low, February's high crossing at 15.10 is the next upside target. Closes below the 20-day moving average crossing at 13.73 would signal that a short-term top has been posted.           



December cotton closed higher on Friday as it extends the rally off April's low. 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 December extends the rally off April's low, January's high crossing at 73.00 is the next upside target. Closes below the 20-day moving average crossing at 66.84 would confirm that a short-term top has been posted. 

Comments
No replies yet. Be the first!