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

Tuesday, November 3, 2020  

7:45 AM ET. Weekly Chain Store Sales Index

8:55 AM ET. Johnson Redbook Retail Sales Index

                       Ret Sales Mo-to-Date, M/M% (previous +0.8%)

                       Ret Sales Mo-to-Date, Y/Y% (previous +1.6%)

                       Latest Wk, Y/Y% (previous +1.2%)

9:45 AM ET. October ISM-NY Report on Business

                       Business Index (previous 56.1)

10:00 AM ET. November IBD/TIPP Economic Optimism Index

                       Economic Optimism Idx (previous 55.2)

                       6-Mo Economic Outlook (previous 54.1)

10:00 AM ET. September Manufacturers' Shipments, Inventories & Orders (M3)

                       Total Orders, M/M% (previous +0.7%)

                       Orders, Ex-Defense, M/M% (previous +0.8%)

                       Orders, Ex-Transport, M/M% (previous +0.7%)

                       Durable Goods, M/M%

                       Durable Goods, M/M%

4:00 PM ET. October Domestic Auto Industry Sales

4:30 PM ET. API Weekly Statistical Bulletin

                       Crude Stocks, Net Chg (Bbls) (previous +4.6M)

                       Gasoline Stocks, Net Chg (Bbls) (previous +2.3M)

                       Distillate Stocks, Net Chg (Bbls) (previous -5.3M)

  N/A              U.S. Senate elections

  N/A              U.S. House elections

  N/A              U.S. gubernatorial elections

  N/A              U.S. presidential election

Wednesday, November 4, 2020 

7:00 AM ET. MBA Weekly Mortgage Applications Survey

                       Composite Idx (previous 807.8)

                       Composite Idx, W/W% (previous +1.7%)

                       Purchase Idx-SA (previous 305.2)

                       Purchase Idx-SA, W/W% (previous +0.2%)

                       Refinance Idx (previous 3711.6)

                       Refinance Idx, W/W% (previous +2.5%)

8:15 AM ET. October ADP National Employment Report

                       Private Sector Jobs, Net Chg (previous +749000)

8:30 AM ET. September U.S. International Trade in Goods & Services

                       Trade Balance (USD) (previous -67.10B)

                       Exports (USD) (previous 171.94B)

                       Exports, M/M% (previous +2.2%)

                       Imports (USD) (previous 239.04B)

                       Imports, M/M% (previous +3.2%)

9:45 AM ET. October US Services PMI

                       PMI, Services (previous 54.6)

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

                       Non-Mfg Composite Idx (previous 57.8)

                       Non-Mfg Business Idx (previous 63.0)

                       Prices Idx (previous 59.0)

                       Employment Idx (previous 51.8)

                       New Orders Idx (previous 61.5)

10:30 AM ET. EIA Weekly Petroleum Status Report

                       Crude Oil Stocks (Bbl) (previous 492.427M)

                       Crude Oil Stocks, Net Chg (Bbl) (previous +4.32M)

                       Gasoline Stocks (Bbl) (previous 226.124M)

                       Gasoline Stocks, Net Chg (Bbl) (previous -0.892M)

                       Distillate Stocks (Bbl) (previous 156.228M)

                       Distillate Stocks, Net Chg (Bbl) (previous -4.491M)

                       Refinery Usage (previous 74.6%)

                       Total Prod Supplied (Bbl/day) (previous 19.631M)

                       Total Prod Supplied, Net Chg (Bbl/day) (previous +1.519M)

11:00 AM ET. October Global Services PMI

                       PMI, Services (previous 51.6)

  N/A              U.S: Will Rogers Day in Oklahoma

  N/A              U.S. Federal Open Market Committee meeting

Thursday, November 5, 2020 

7:30 AM ET. October Challenger Job-Cut Report

                       Job Cuts, M/M% (previous +3%)

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

                       Corn (Metric Tons) (previous 2243.7K)

                       Soybeans (Metric Tons) (previous 1629.7K)

                       Wheat (Metric Tons) (previous 803.2K)

8:30 AM ET. 3^rd Quarter Preliminary Productivity & Costs

                       Non-Farm Productivity, Q/Q% (previous +7.3%)

                       Unit Labor Costs (previous +12.2%)

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

                       Jobless Claims (previous 751K)

                       Jobless Claims, Net Chg (previous -40K)

                       Continuing Claims (previous 7756000)

                       Continuing Claims, Net Chg (previous -709K)

9:00 AM ET. SEC Asset Management Advisory Committee Meeting, held virtually

9:45 AM ET. Bloomberg Consumer Comfort Index

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

                       Working Gas In Storage (Cbf) (previous 3955B)

                       Working Gas In Storage, Net Chg (Cbf) (previous +29B)

12:00 PM ET. October Monthly U.S. Retail Chain Store Sales Index

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

                       Federal Funds Rate

                       Federal Funds Rate Change (Pts)

                       Fed Funds Rate-Range High (previous 0.25)

                       Fed Funds Rate-Range Low (previous 0.00)

                       FOMC Vote For Action (previous 8)

                       FOMC Vote Against Action (previous 2)

                       Discount Rate (previous 0.25)

                       Discount Rate Change (Pts) (previous +0)

                       Discount Rate-Range High

                       Discount Rate-Range Low

4:30 PM ET. Foreign Central Bank Holdings

4:30 PM ET. Federal Discount Window Borrowings

4:30 PM ET. Money Stock Measures

The STOCK INDEXES http://quotes.ino.com/exchanges/?c=indexes"

The STOCK INDEXES:The December NASDAQ 100 were sharply higher overnight due to better-than-forecast manufacturing purchasing managers index data out of China and the euro-zone. U.S. manufacturing data also are due. The high-range 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. If the NASDAQ 100 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 11,593.11 would signal that a short-term low has been posted. First resistance October's high crossing at 12,249.00. Second resistance is September's high crossing at 12,444.75. First support is last-Friday's low crossing at 10,944.50. Second support is September's low crossing at 10,656.50.

The December S&P 500 was higher due to short covering overnight as it consolidates some of the decline off October's high. The high-range overnight trade sets the stage for a steady to higher opening when the day session begins trading later this morning.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 3411.77 would confirm that a short-term low has been posted. First resistance is October's high crossing at 3532.80. Second resistance is September's high crossing at 3568.80. First support is last-Friday's low crossing at 3252.20. Second support is September's low crossing at 3210.70.

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

INTEREST RATES: December T-bonds were higher overnight. 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. If December renews the decline off the October 15th high, June's low crossing at 171-16 is the next downside target. Closes above the 50-day moving average crossing at 175-09 would confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 175-09. Second resistance is the October 15^th high crossing at 176-10. First support is October's low crossing at 171-22. Second support is June's low crossing at 171-16.

December T-notes were steady to slightly higher overnight. The mid-range overnight trade sets the stage for a steady to slightly 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 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 139.042 are needed to confirm that a short-term low has been posted. First resistance is the 50-day moving average  crossing at 139.042. Second resistance is the October 15^th high crossing at 139.140. First support is last-Friday'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 was lower overnight as it extends the decline off August's high. The high-range overnight trade sets the stage for a steady to slightly lower 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. If December extends the aforementioned decline, the 62% retracement level of the April-August-rally crossing at $32.61 is the next downside target. Closes above the 20-day moving average crossing at $39.54 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at $38.32. Second resistance is the 20-day moving average crossing at $39.54. First support is the overnight low crossing at $33.64. Second support is the the 62% retracement level of the April-August-rally crossing at $32.61.  

December heating oil was lower overnight as it extends the decline off August's high. The high-range overnight trade sets the stage for a steady to slightly lower 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. If December extends the aforementioned decline, the May 13^th low crossing at $99.24 is the next downside target. Closes above the 50-day moving average crossing at $117.07 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at $112.52. Second resistance is the 20-day moving average crossing at 115.48. First support is the overnight low crossing at 102.52. Second support is the May 13th low crossing at $99.24.

December unleaded gas was lower overnight as it extends the decline off October's high. The mid-range overnight trade sets the stage for a steady to lower 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. If December extends this month's decline, the 50% retracement level of the April-August-rally crossing at $92.55 is the next downside target. Closes above the 50-day moving average crossing at $114.20 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at $108.86. Second resistance is the 50-day moving average crossing at $114.20. First support is the overnight low crossing at $97.02. Second support is the 50% retracement level of the April-August-rally crossing at $92.55.     

December Henry natural gas was 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 to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off October's low, the July-2015 high crossing at 3.856 is the next upside target. Closes below last-Thursday's low crossing at 3.151 would confirm that a short-term top has been posted. First resistance is last-Friday's high crossing at 3.396. Second resistance is the July-2015 high crossing at 3.856. First support is last-Thursday's low crossing at 3.151. Second support is October's low crossing at 2.922.

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

CURRENCIES:The December Dollar was steady to slightly lower overnight as it consolidated some of the rally off October's low. 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off October's low, the 25% retracement level of the March-September-decline crossing at $94.72 is the next upside target. Closes below the 10-day moving average crossing at $93.29 would temper the near-term friendly outlook.First resistance is the overnight high crossing at $94.32. Second resistance is the 25% retracement level of the March-September-decline crossing at $94.72. First support is October's low crossing at $92.46. Second support is September's low crossing at $91.75.

The December Euro was steady to slightly higher overnight as it consolidates some of last-week's decline. The high-range overnight trade sets the stage for a steady to lower 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. If December extends last-week's decline, September's low crossing at $116.31 is the next downside target. Closes above the 50-day moving average crossing at $118.15 would confirm that a short-term low has been posted. First resistance is October's high crossing at $118.95. Second resistance is the September 10^th high crossing at $119.42. First support is the overnight low crossing at $116.32. Second support is September's low crossing at $116.31.

The December British Pound was slightly lower in overnight trading. The high-range overnight trade sets the stage for a steady to slightly lower opening when the day session beings 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 38% retracement level of the March-August-rally crossing at 1.2736 is the next downside target. If December renews the rally off September's low, the August 19^th high crossing at 1.3270 is the next upside target. First resistance is October's high crossing at 1.3182. Second resistance is the August 19^th high crossing at 1.3270. First support is the overnight low crossing at 1.2855. Second support is the 38% retracement level of the March-August-rally crossing at 1.2736.

The December Swiss Franc was steady to slightly lower overnight as it extends last-week's decline. The mid-range overnight trade sets the stage for a steady to lower 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. If December extends last-week's decline, October's low crossing at 1.0869 is the next downside target. If December resumes the rally off September's low, August's high crossing at 1.1138 is the next upside target. First resistance is October'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 the 38% retracement level of the March-August-rally crossing at 1.0789. 

The December Canadian Dollar was higher overnight as it consolidates some of the decline off October's high. The high-range trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are oversold but are turning neutral to bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing at $75.75 would signal that a short-term low has been posted. If December extends the decline off October's high, September's low crossing at $74.53 is the next downside target. First resistance is October's high crossing at $76.46. Second resistance is September's high crossing at $76.97. First support is last-Thursday's low crossing at $74.70. Second support is September's low crossing at $74.53.  

The December Japanese Yen was steady to slightly lower 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 turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the 50-day moving average crossing at 0.0949 are needed to confirm that a short-term top has been posted. If December extends the rally off October's low, the 75% retracement level of the February-March rally crossing at 0.0969 is the next upside target. First resistance is last-Thursday's high crossing at 0.0962. Second resistance is September's high crossing at 0.0963. First support is the October 20^th low crossing at 0.0946. Second support is October's low crossing at 0.0943.  

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

PRECIOUS METALS: December gold was higher overnight as it consolidated some of last-week'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 are oversold and are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at $1919.80 would signal that a short-term low has been posted. If December extends the decline off October's high, September's low crossing at $1851.00 is the next downside target. First resistance is the October 12^th high crossing at $1939.40. Second resistance is the September 16^th high crossing at $1983.80. First support is last-Thursday's low crossing at $1859.20. Second support is September's low crossing at $1851.00.

December silver was higher overnight as it consolidates some of last-week's decline. The high-range overnight trade sets the stage for a steady to higher opening when the day session begins trading later this morning. 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 25.347 are needed to confirm that a low has been posted. Closes below last-Thursday's low crossing at $22.625 would open the door for a possible test of September's low crossing at $21.810. First resistance is the 50-day moving average crossing at 25.347. Second resistance is the September 15^th high crossing at $27.865. First support is last-Thursday's low crossing at $22.625. Second support is September's low crossing at $21.810. 

December copper was steady to slightly higher overnight. The high-range overnight trade sets the stage for a steady to slightly higher opening when the day 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. Closes below the 50-day moving average crossing at 3.0383 would confirm that a short-term top has been posted. If December renews the rally off October's low, the 87% retracement level of the 2018-2020 decline crossing at 3.2302 is the next upside target. First resistance is October's high crossing at 3.2180. Second resistance is the 87% retracement level of the 2018-2020 decline crossing at 3.2302. First support is the 50-day moving average crossing at 3.0383. Second support is October's low crossing at 2.8345.  

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

December corn was lower overnight as it extends the decline off October's high. The mid-range trade sets the stage for a steady to lower opening when the day sessions begins trading. Stochastics and the RSI remain neutral to bearish signaling that a short-term top might be in or is near. If December extends the decline off October's high, the 50-day moving average crossing at $3.79 3/4 is the next downside target. Closes above the 10-day moving average crossing at $4.08 1/4 would signal that a short-term low has been posted. First resistance is October's high crossing at $4.22 1/4. Second resistance is the July-2019 high crossing at $4.23 1/2. First support is the 50-day moving average crossing at $3.79 3/4. Second support is the September 28^th low crossing at $3.60 1/2.       

December wheat was lower overnight as it extends the decline off October's high. The mid-range trade sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near-term. If December extends this week's decline, the October 12^th low crossing at $5.87 is the next downside target. Closes above the 10-day moving average crossing at $6.16 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 the 50% retracement level of the 2012-2016-decline crossing at $6.66 1/4. First support is the October 12^th low crossing at $5.87. Second support is the 50-day moving average crossing at $5.75 3/4.

December Kansas City wheat was lower overnight as it extends the decline off October's high. The high-range close sets the stage for a steady to slightly 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. If December extends the aforementioned decline, the October 14^th low crossing at $5.23 1/2 is the next downside target. Closes above the 10-day moving average crossing at $5.53 3/4 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 1/2. First support is the October 14^th low crossing at $5.23 1/2.          Second support is the 50-day moving average crossing at $5.07 3/4.

December Minneapolis wheat was lower overnight as it extends the decline off October's high. The high-range overnight trade sets the stage for a steady to slightly lower 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. If December extends the aforementioned decline, the 50-day moving average crossing at $5.44 1/4 is the next downside target. Closes above the 10-day moving average crossing at $5.64 1/2 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $5.64 1/4. Second resistance is the 75% retracement level of the 2019-2020-decline crossing at $5.87 3/4. First support is the overnight low crossing at $5.46 1/4. Second support is the 50-day moving average crossing at $5.44 1/4.   

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

January soybeans were lower overnight as they extend the decline off October's high. The low-range trade sets the stage for a steady to lower 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. If January extends the decline off October's high, the 25% retracement level of the April-October-rally crossing at $10.25 is the next downside target. Closes above the 10-day moving average crossing at $10.66 1/4 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $10.66 1/4. Second resistance is psychological resistance crossing at $11.00. First support is the overnight low crossing at $10.45. Second support is the 25% retracement level of the April-October-rally crossing at $10.25.

December soybean meal was higher overnight as it consolidates some of the decline off last-Tuesday's high. 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 bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at $371.80 would signal that a short-term top has been posted. If December renews the rally off August's low, monthly resistance crossing at $404.90 is the next upside target. First resistance is last-Tuesday's high crossing at $392.70. Second resistance is monthly resistance crossing at $404.90. First support is the 20-day moving average crossing at $371.80. Second support is the October 12^th low crossing at $352.30.   

December soybean oil was lower overnight. 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 October 19^th low crossing at 32.28 would confirm that a short-term top has been posted. If December resumes the rally off October's low, September's high crossing at 35.49 is the next upside target. First resistance is last-Monday's high crossing at 34.82. 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 

December hogs closed down $0.03 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.