KEY EVENTS TO WATCH FOR:

Monday, November 2, 2020 

9:45 AM ET. October US Manufacturing PMI

                       PMI, Mfg (previous 53.2)

10:00 AM ET. October ISM Report on Business Manufacturing PMI

                       Manufacturing PMI (previous 55.4)

                       Prices Idx (previous 62.8)

                       Employment Idx (previous 49.6)

                       Inventories (previous 47.1)

                       New Orders Idx (previous 60.2)

                       Production Idx (previous 61.0)

10:00 AM ET. September Construction Spending - Construction Put in Place

                       New Construction (previous +1.4%)

                       Residential Construction

11:00 AM ET. October Global Manufacturing PMI

                       PMI, Mfg (previous 52.3)

  N/A     Annual   Industrial Production and Capacity Utilization annual revision

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

The Dow closed lower on Friday as investors shrugged off strong quarterly results from heavyweight tech stocks and focused on an uncertain outlook due to a surge in COVID-19 cases in the U.S. and Europe. Investors also positioned themselves ahead of next Tuesday's U.S. elections and uncertainty over the timing of further aid for businesses and consumers from Congress. 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 oversold and remain neutral to bearish signaling that sideways to lower prices remain possible near-term. If the Dow extends this week's decline, the July 30^th low crossing at 25,992.28 is the next downside target. Closes above the 20-day moving average crossing at 26,416.25 would signal that a short-term low has been posted. First resistance is October's high crossing at 28,957.90. Second resistance is September's high crossing at 29,199.35. First support is the July 30^th low crossing at 25,992.28. Second support is July's low crossing at 25,525.51. 

The December NASDAQ 100 closed sharply lower due to a sell off of technology stocks 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off October's high, September's low crossing at 10,656.50 is the next downside target. Closes above the 20-day moving average crossing at 11,602.91 are needed to confirm that a short-term low has been posted. First resistance is October's high crossing at 12,197.00. Second resistance is September's high crossing at 12,465.25. First support is today's low crossing at 10,944.50. Second support is September's low crossing at 10,656.50.   

The December S&P 500 closed lower on Friday as it extends the decline off October's high. 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the aforementioned decline, September's low crossing at 3210.70 is the next downside target. Closes above the 20-day moving average crossing at 3416.04 would confirm that a short-term low has been posted. First resistance is October's high crossing at 3498.10. Second resistance is September's high crossing at 3516.60. First support is today's low crossing at 3252.20. Second support is September's low crossing at 3210.70.  

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December T-bonds closed down 23/32's at 172-04.

December T-bonds 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. If December renews 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 175-13 are needed to confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 175-13. Second resistance is the October 15^th high crossing at 178-10. First support is last-Friday's low crossing at 171-22. Second support is the June 5^th low crossing at 171-16.

December T-notes closed down 85-pts. at 138.045.

December T-notes closed lower on Friday as it extends the decline off August's high. The low-range  close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off September's high, the 75% retracement level of the June-August-rally crossing at 137.286 is the next downside target. Closes above the 50-day moving average crossing at 139.051 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 138.182. Second resistance is the 20-day moving average crossing at 138.245. First support is today's low crossing at 138.035. Second support is the 75% retracement level of the June-August-rally crossing at 137.286.          

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

December crude oil closed lower on Friday as it extends the decline off October's high.The low-range close sets the stage for a steady to lower opening when Monday's night session begins. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends this week's decline, the 62% retracement level of the April-August rally crossing at $32.61 is the next downside target. Closes above the 50-day moving average crossing at $40.37 would signal that a short-term low has been posted. First resistance is the September 18^th high crossing at $39.36. Second resistance is August's high crossing at $44.33. First support is the 50% retracement level of the April-August rally crossing at $34.87. Second support is the 62% retracement level of the April-August rally crossing at $32.61.  

December heating oil closed lower on Friday. 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off October's high, the May 13^th low crossing at $99.95 is the next downside target. Closes above the 50-day moving average crossing at $117.48 are needed to confirm that a low has been posted. First resistance is the October 9^th high crossing at $121.44. Second resistance is the August 25th high crossing at $132.46. First support is Thursday's low crossing at $105.25. Second support is the May 13^th low crossing at $99.95. 

December unleaded gas closed lower on Friday as it extends this week's decline. 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off October's high, the June 15th low crossing at $99.93 is the next downside target. Closes above the 50-day moving average crossing at $114.53 would signal that a short-term low has been posted. First resistance is October's high crossing at $120.57. Second resistance is the 62% retracement level of the January-April-decline crossing at $125.98. First support is Thursday's low crossing at $100.32. Second support is the June 15^th low crossing at $99.93.   

December Henry natural gas closed higher on Friday as it extended this month's rally. 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 October's low, monthly resistance marked by the January-2015 high crossing at 3.407 is the next upside target. Closes below the 50-day moving average crossing at 3.200 would confirm that a short-term top has been posted. First resistance is today's high crossing at 3.368. Second resistance is the January-2015 high crossing at 3.407. First support is the 50-day moving average crossing at 3.200. Second support is the October 14^th low crossing at 3.132. 

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

The December Dollar 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 this week's rally, September's high crossing at 94.80 is the next upside target. Closes below the 10-day moving average crossing at 93.23 would signal that a short-term top 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 last-Wednesday's low crossing at 92.46. Second support is September's low crossing at 91.75. 

The December Euro 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 becoming oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends this week's decline, September's low crossing at 116.31 is the next downside target. Closes above the 50-day moving average crossing at crossing at 118.05 would signal that a short-term low has been posted. First resistance is the September 10^th high crossing at 119.42. Second resistance is September's high crossing at 120.38. First support is today's low crossing at 116.51. Second support is September's low crossing at 116.30. 

The December British Pound posted an inside day with a higher close on Friday as it consolidated 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. If December extends this week's decline, September's low crossing at 1.2679  is the next downside target. Closes above the 10-day moving average crossing at 1.3014 would signal that a short-term low has been posted. First resistance is last-Wednesday's high crossing at 1.3182. Second resistance is the August 19^th high crossing at 1.3270. First support is the reaction low crossing at 1.2856. Second support is September's low crossing at 1.2679.

The December Swiss Franc closed lower on Friday as it extends this week's decline. 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends this week's decline, September's low crossing at 1.0781 is the next downside target. Closes above last-Wednesday's high crossing at 1.1090 would signal that a short-term low has been posted. First resistance is last-Wednesday's high crossing at 1.1090. Second resistance is August's high crossing at 1.1138. First support is October's low crossing at 1.0869. Second support is September's low crossing at 1.0781.

The December Canadian Dollar 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 neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends this week's decline, September's low crossing at 74.53 is the next downside target. Closes above the 50-day moving average crossing at 75.47 would signal that a short-term low has been posted. First resistance is last-Wednesday's high crossing at 76.46. Second resistance is September's high crossing at 76.97. First support is Thursday's low crossing at 75.69. Second support is September's low crossing at 74.53.

The December Japanese Yen 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 Monday's low crossing at 0.0955 would confirm that a short-term top has been posted. If December extends this week's rally, resistance crossing at 0.0969 is the next upside target. First resistance is Thursday's high crossing at 0.0962. Second resistance is September's high crossing at 0.0963. First support is October's low crossing at 0.0943. Second support is September's low crossing at 0.0940.  

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

December gold 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 oversold but remain  neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends 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 $1920.90 would confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at $1920.90. Second resistance is the September 16^th high crossing at  $1983.80. First support is Thursday's low crossing at $1859.20. Second support is the September 24th low crossing at $1851.00.

December silver 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 lower prices are possible near-term. Closes below October's low crossing at 22.965 would confirm that a short-term top has been posted. If December renews the rally off September's low, the 50-day moving average crossing at 25.405 is the next upside target. First resistance is the 50-day moving average crossing at 25.405. Second resistance is the September 15^th high crossing at 27.865. First support is October's low crossing at 22.965. Second support is September's low crossing at 21.810. 

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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at 303.62 would signal that a short-term top has been posted. If December renews the rally off March's low, the 87% retracement level of the 2018-2020 decline crossing at 323.02 is the next upside target. First resistance is last-Wednesday's high crossing at 321.80. 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 303.62. Second support is October's low crossing at 283.45. 

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

December Corn closed unchanged at $3.97 1/2. 

December corn closed unchanged on Friday as it consolidates some of this week's decline. The mid-range close sets the stage for a steady to higher opening when Monday's night sessions begins trading. Stochastics   and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends this week's decline, the 50-day moving average crossing at $3.78 3/4 is the next downside target. Closes above the 10-day moving average crossing at $4.09 1/4 would confirm that a short-term low has been posted. First resistance is Tuesday's high crossing at $4.20. Second resistance is the July-2019 high crossing at $4.23 1/2 is the next upside target. First support is Thursday's low crossing at $3.93. Second support is the 50-day moving average crossing at $3.78 3/4.   

December wheat closed down $0.05 1/4-cents at $5.98 1/2.  

December wheat 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 extends the decline off October's high, the 50-day moving average crossing at $5.74 1/2 is the next downside target. Closes above the 10-day moving average crossing at $6.19 1/4 would confirm that a short-term low has been posted. First resistance is October's high crossing at $6.38 1/4. Second resistance is monthly resistance crossing at $6.66 1/4. First support is today's low crossing at $5.95 1/4. Second support is the 50-day moving average crossing at $5.74 1/2.       

December Kansas City Wheat closed down a $0.00 1/2-cent at $5.41 1/2.

December Kansas City wheat closed fractionally 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 bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off October's high, the 50-day moving average crossing at $5.06 is the next downside target. Closes above the 10-day moving average crossing at $5.56 would confirm that a short-term low has been posted. First resistance is the 75% retracement level of the 2018-2020-decline crossing at $5.79 3/4. Second resistance is the 87% retracement level of the 2018-2020-decline crossing at $6.05. First support is Wednesday's low crossing at $5.32. Second support is the 50-day moving average crossing at $5.06.      

December Minneapolis wheat closed unchanged at $5.52 1/4. 

December Minneapolis wheat closed unchanged on Friday. The mid-range close sets the stage for a steady opening when Monday's night session begins trading. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends this week's decline, the 50-day moving average crossing at $5.43 3/4 is the next downside target. Closes above the 10-day moving average crossing at crossing at $5.66 1/2 would signal that a short-term low has been posted. First resistance is 75% retracement level of the 2019-2020-decline crossing at $5.87 3/4. Second resistance is the 87% retracement level of the 2019-2020-decline crossing at $6.00 3/4. First support is the 50-day moving average crossing at crossing at $5.43 3/4. Second support is September's low crossing at $5.22 1/2.     

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

November soybeans closed up $0.05-cents at $10.56 3/4.

November soybeans closed higher on Friday as it extends the consolidates some of the decline off  October's high. 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 bearish signaling that sideways to lower prices are possible near-term. Multiple closes below the 20-day moving average crossing at $10.58 1/4 would confirm that a short-term top has been posted. If November renews the rally off April's low, psychological resistance crossing at $11.00 is the next upside target. First resistance is Tuesday's high crossing at $10.94. Second resistance is psychological resistance crossing at $11.00. First support is today's low crossing at $10.47. Second support is the 50-day moving average crossing at $10.12 1/2.

December soybean meal closed up $2.10 to $379.00. 

December soybean meal 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 lower prices are possible near-term. Closes below the 20-day moving average crossing at  $370.10 would confirm that a short-term top has been posted. If December extends the rally off August's low, monthly resistance crossing at $404.90 is the next upside target. First resistance is last-Thursday's high crossing at $390.80. Second resistance is monthly resistance crossing at $404.90. First support is the 20-day moving average crossing at $370.10. Second support is the October 13^th low crossing  at $352.30.       

December soybean oil closed up 63-pts. at 33.69. 

December soybean oil 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 lower prices are possible near-term. Closes below last-Monday's low crossing at 32.28 would signal that a short-term top has been posted. If December renews 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 34.82. 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 $0.13 at $65.65. 

December hogs 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 extends this week's decline, the 50-day moving average crossing at $63.08 is the next downside target. Closes above the 10-day moving average crossing at $67.63 would signal that a short-term low has been posted. First resistance is October's high crossing at $72.80. Second resistance is the July-2019 high crossing at $73.45. First support is the 50-day moving average crossing at $63.08. Second support is the September 16^th low  crossing at $61.25.     

December cattle closed up $0.48 at $108.45 

December cattle closed higher on Friday and above the 20-day moving average crossing at $108.27 signaling that a short-term low has been posted. 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 renews this month's decline, the 50% retracement level of the April-August-rally crossing at $101.55 is the next downside target. First resistance is today's high crossing at $108.60. Second resistance is the 50-day moving average crossing at $109.73. First support is Monday's low crossing at $102.53. Second support is the 50% retracement level of the April-August-rally crossing at $101.55. 

November Feeder cattle closed up $2.10-cents at $137.82. 

November 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 bullish signaling that sideways to higher prices are possible near-term. If November extends this week's rally, the 50-day moving average crossing at $138.88 is the next upside target. Closes below the 10-day moving average crossing at $132.29 would confirm that a short-term top has been posted. First resistance is the 50-day moving average crossing at $138.88. Second resistance is the September 29^th high crossing at $144.55. First support is the 62% retracement level of the April-August-rally crossing at $127.74. Second support is the 75% retracement level of the April-August-rally crossing at $122.90.      

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 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 October 12th high crossing at 11.34 would confirm that a short-term low has been posted. 

December cocoa closed sharply lower on Friday as it extends the decline off October's high. The low-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 renews 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 24.14 would signal that a low has been posted.                    

March sugar closed slightly lower on Friday. The high-range close set the stage for a steady to higher opening on Monday. 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 14.36 would signal that a short-term top has been posted. If March extends the rally off September's low, February's high crossing at 15.10 is the next upside target.           

December cotton closed lower on Friday as it extends this week's decline. 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. Today's close below the 20-day moving average crossing at 69.51 confirms that a short-term top has been posted and opens the door for additional weakness near-term. If December renews the rally off April's low, January's high crossing at 73.00 is the next upside target.