KEY EVENTS TO WATCH FOR:

Wednesday, January 20, 2021  

7:00 AM ET. MBA Weekly Mortgage Applications Survey

                       Composite Idx (previous 965.2)

                       Composite Idx, W/W% (previous +16.7%)

                       Purchase Idx-SA (previous 338.9)

                       Purchase Idx-SA, W/W% (previous +8.0%)

                       Refinance Idx (previous 4706.3)

                       Refinance Idx, W/W% (previous +20.1%)

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 -2.6%)

                       Ret Sales Mo-to-Date, Y/Y% (previous +2.1%)

                       Latest Wk, Y/Y% (previous +2.1%)

10:00 AM ET. January NAHB Housing Market Index

                       Housing Mkt Idx (previous 86)

12:00 PM ET. U.S. Presidential Inaugural Ceremony

4:30 PM ET. API Weekly Statistical Bulletin

                       Crude Stocks, Net Chg (Bbls) (previous -5.8M)

                       Gasoline Stocks, Net Chg (Bbls) (previous +1.9M)

                       Distillate Stocks, Net Chg (Bbls) (previous +4.4M)

Thursday, January 21, 2021 

8:30 AM ET. January Philadelphia Fed Business Outlook Survey

                       Business Activity (previous 11.1)

                       Prices Paid (previous 27.1)

                       Employment (previous 8.5)

                       New Orders (previous 2.3)

                       Prices Received (previous 18)

                       Delivery Times (previous 18.5)

                       Inventories (previous 10.3)

                       Shipments (previous 14.4)

8:30 AM ET. December New Residential Construction - Housing Starts and Building Permits

                       Total Starts (previous 1.547M)

                       Housing Starts, M/M% (previous +1.2%)

                       Building Permits (previous 1.639M)

                       Building Permits, M/M% (previous +6.2%)

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

                       Jobless Claims (previous 965K)

                       Jobless Claims, Net Chg (previous +181K)

                       Continuing Claims (previous 5271000)

                       Continuing Claims, Net Chg (previous +199K)

9:45 AM ET. Bloomberg Consumer Comfort Index

4:30 PM ET. Federal Discount Window Borrowings

4:30 PM ET. Foreign Central Bank Holdings

4:30 PM ET. Money Stock Measures

Friday, January 22, 2021  

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

                       Corn (Metric Tons) (previous 1437.7K)

                       Soybeans (Metric Tons) (previous 1234K)

                       Wheat (Metric Tons) (previous 232K)

9:45 AM ET. January US Flash Manufacturing PMI

                       PMI, Mfg (previous 56.5)

9:45 AM ET. January US Flash Services PMI

                       PMI, Services (previous 55.3)

10:00 AM ET. December Existing Home Sales

                       Existing Sales (previous 6.69M)

                       Existing Sales, M/M% (previous -2.5%)

                       Unsold Homes Month's Supply (previous 2.3)

                       Median Price (USD) (previous 310800)

                       Median Home Price, Y/Y% (previous +14.6%)

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

                       Working Gas In Storage (Cbf) (previous 3196B)

                       Working Gas In Storage, Net Chg (Cbf) (previous -134B)

11:00 AM ET. EIA Weekly Petroleum Status Report

                       Crude Oil Stocks (Bbl) (previous 482.211M)

                       Crude Oil Stocks, Net Chg (Bbl) (previous -3.248M)

                       Gasoline Stocks (Bbl) (previous 245.476M)

                       Gasoline Stocks, Net Chg (Bbl) (previous +4.395M)

                       Distillate Stocks (Bbl) (previous 163.205M)

                       Distillate Stocks, Net Chg (Bbl) (previous +4.786M)

                       Refinery Usage (previous 82.0%)

                       Total Prod Supplied (Bbl/day) (previous 19.607M)

                       Total Prod Supplied, Net Chg (Bbl/day) (previous +2.553M)

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

The Dow closed higher on Tuesday following comments by Janet Yellen in her Senate confirmation hearing called for more fiscal aid for the pandemic-battered economy. The mid-range close sets the stage for a steady to higher opening when Wednesday'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 last-Friday's low crossing at 30,612.67 would confirm that a short-term top has been posted. If the Dow extends this month's rally into uncharted territory, upside targets will be hard to project. First resistance is last-Thursday's high crossing at 31,223.78. Second resistance is unknown. First support is the 20-day moving average crossing at 30,559.29. Second support is the 50-day moving average crossing at 30,059.72.  

The March NASDAQ 100 posted a key reversal up as it closed higher on Tuesday. 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 bearish hinting that a short-term top might be in or is near. Closes below the 50-day moving average crossing at 12,460.62 are needed to confirm that a short-term top has  been posted. If March extends the rally off September's low into uncharted territory, upside targets will be hard to project. First resistance is the January 8^th high crossing at 13,065.75. Second resistance is unknown. First support is the 50-day moving average crossing at 12,460.62. Second support is the December 12^th low crossing at 12,217.00.   

The March S&P 500 closed higher on Tuesday. 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 turning neutral to bearish signaling that a short-term top might be in or is near. Multiple closes below the 50-day moving average crossing at 3657.80 would confirm that a short-term top has been posted. If March extends the rally off November's low into uncharted territory, upside targets will be hard to project. First resistance is the January 8th high crossing at 3824.40. Second resistance is unknown. First support is the 20-day moving average crossing at 3739.35. Second support is the 50-day moving average crossing at 3657.80.  

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

March T-bonds closed up 7/32's at 169-01.

March T-bonds closed higher on Tuesday. 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 170-30 would confirm that a low has been posted. If March renews the decline off November's high, the 50% retracement level of the 2018-2020 rally crossing at 164-04 is the next downside target.First resistance is the 20-day moving average crossing at 170-30. Second resistance is the 50-day moving average crossing at 172-15. First support is last-Tuesday's low crossing at 167-11. Second support is the 50% retracement level of the 2018-2020 rally crossing at 164-04. 

March T-notes closed up 25 pts. at 136.305.

March T-notes closed higher on Friday as it extends the rally off Tuesday's low. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 137.124 would confirm that a short-term low has been posted. If March resumes this month's decline, monthly support on the continuation chart crossing at 134.298 is the next downside target. First resistance is the 20-day moving average crossing at 137.124. Second resistance is the 50-day moving average crossing at 137.207. First support is last-Tuesday's low crossing at 136.010. Second support is monthly support on the continuation chart crossing at 134.298.  

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

March crude oil closed higher on Tuesday.The high-range close sets the stage for a steady to higher opening when Wednesday's night session begins. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to lower prices are possible near-term. If March extends the rally off November's low, the 75% retracement level of the 2018-2020-decline crossing at $57.64 is the next upside target. Closes below the 20-day moving average crossing at $50.14 would signal that a short-term top has been posted. First resistance is last-Wednesday's high crossing at $53.94. Second resistance is the 75% retracement level of the 2018-2020-decline crossing at $57.64. First support is the 10-day moving average crossing at $52.14. Second support is the 20-day moving average crossing at $50.14.  

March heating oil posted an inside day with a higher close on Tuesday. The high-range close sets the stage for a steady to higher opening when Wednesday'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. If March extends the rally off November's low, the 50% retracement level of the 2018-2020-decline crossing at $168.80 is the next upside target. Closes below the 20-day moving average crossing at $152.95 would signal that a short-term top has been posted. First resistance is last-Friday's high crossing at $162.46. Second resistance is the 50% retracement level of  the 2018-2020-decline crossing at $168.80. First support is the 10-day moving average crossing at  $157.56. Second support is the 20-day moving average crossing at $152.95. 

March unleaded gas closed higher on Tuesday. 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off November's low, the 75% retracement level of the 2018-2020-decline crossing at $170.66 is the next upside target. Closes below the 20-day moving average crossing at $145.06 would signal that a short-term top has been posted. First resistance is last-Wednesday's high crossing at $157.40. Second resistance is the 75% retracement level of the 2018-2020-decline crossing at $170.66. First support is the 20-day moving average crossing at 145.06. Second support is the 50-day moving average  crossing at $132.96.    

March Henry natural gas closed sharply lower on Tuesday and below the 20-day moving average crossing at 2.605 would signal that a short-term top has been posted. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends today's decline, December's low crossing at 2.268 is the next downside target. If March renews the rally off December's low, the November 30^th high crossing at 2.910 is the next upside target. First resistance is last-Tuesday's high crossing at 2.835. Second resistance is the November 30^th high crossing at 2.910. First support is today's low crossing at 2.507. Second support is December's low crossing at 2.268.  

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

The March Dollar closed lower on Tuesday as it consolidates some of the rally off January's low. The low-range close sets the stage for a steady to lower opening when Wednesday'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. Closes above the 50-day moving average crossing at 90.97 are needed to confirm that a short-term low has been posted. If March renews the decline off September's high, monthly support crossing at 88.15 is the next downside target. First resistance is the 50-day moving average crossing at 90.97. Second resistance is the November 30^th high crossing at 91.96. First support is January's low crossing at 89.16. Second support is monthly support crossing at 88.15. 

The March Euro closed higher on Tuesday as it consolidates some of the decline off January's high. 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 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 121.00 would open the door for a possible test of December's low crossing at 119.63. If March renews the rally off November's low, the 62% retracement level of the 2018-2020-decline crossing at 125.39 is the next upside target. First resistance is January's high crossing at 123.68. Second resistance is the 62% retracement level of the 2018-2020-decline crossing at 125.39. First support is the 50-day moving average crossing at 121.00. Second support is December's low crossing at 119.63. Second support is the November 23^rd low crossing at 118.33.  

The March British Pound closed higher on Tuesday. 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 turning neutral to bearish signaling that a short-term top might be in or is near. Closes below last-Monday's low crossing at 1.3456 would open the door for additional weakness and a possible test of the 50-day moving average crossing at 1.3425. If March renews the rally off May's low, the February-2019 crossing at 1.3728 is the next upside target. First resistance is last-Thursday's high crossing at 1.3716. Second resistance is the February-2019 high crossing at 1.3728. First support is last-Monday's low  crossing at 1.3456. Second support is the 50-day moving average crossing at 1.3425. 

The March Swiss Franc closed higher on Tuesday. The mid-range close sets the stage for a steady to higher opening when Wednesday'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 1.1205 would confirm that a short-term top has been posted. If March renews the rally off September's low, the 75% retracement level of the 2018-2020-decline crossing at 1.1540 is the next upside target. First resistance is January's high crossing at 1.1441. Second resistance is the 75% retracement level of the 2018-2020-decline crossing at 1.1540. First support is the 50-day moving average crossing at 1.1205. Second support is the November 30^th low crossing at 1.1036. 

The March Canadian Dollar closed lower on Tuesday. The high-range close sets the stage for a steady to slightly higher opening when Wednesday'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 77.74 would confirm that a short-term top has been posted. If March resumes the rally off October's low, the 87% retracement level of the 2018-2020-decline crossing at 80.50 is the next upside target. First resistance is last-Thursday's high crossing at 79.23. Second resistance is the 87% retracement level of the 2018-2020-decline crossing at 80.50. First support is the 50-day moving average crossing at 77.74. Second support is the November 13^th low crossing at 75.96.

The March Japanese Yen closed lower on Tuesday. The mid-range close sets the stage for a steady to slightly lower opening when Wednesday’s night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 0.0966 would signal that a short-term low has been posted. If March resumes this month's decline, December's low crossing at 0.0956 is the next downside target. First resistance is January's high crossing at 0.0975. Second resistance is the 87% retracement level of March's decline crossing at 0.0981. First support is last-Monday's low crossing at 0.0958. Second support is December's low crossing at 0.0956.  

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

February gold closed higher on Tuesday.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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If February extends this month's decline, November's low crossing at $1767.20 is the next downside target. Closes above the 20-day moving average crossing at $1879.80 would signal that a short-term low has been posted. First resistance is January's high crossing at $1962.50. Second resistance is November's high crossing at $1973.30. First support is today's low crossing at $1800.80. Second support is November's low crossing at $1767.20.

March silver closed higher on Tuesday. 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 bearish signaling that sideways to lower prices are possible near-term. Closes below last-Monday's low crossing at 24.365 would confirm that a short-term top has been posted. If March renews the rally off  November's low, September's high crossing at 29.380 is the next upside target. First resistance is January's high crossing at 28.105. Second resistance is September's high crossing at 29.380. First support is today's low crossing at 24.040. Second support is the December 9^th low crossing at 23.695. 

March copper closed higher on Tuesday. 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 turning neutral signaling that sideways trading is possible near-term. Closes below the 50-day low crossing at 345.95 would confirm that a short-term top has been posted. If March resumes the rally off March's low, monthly resistance crossing at 379.25 is the next upside target. First resistance is the January 8th high crossing at 373.40. Second resistance is monthly resistance crossing at 379.25. First support is the  reaction low crossing at 345.00. Second support is the 50-day moving average crossing at 345.95. 

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

March Corn closed down $0.05 1/2-cents at $5.26. 

March corn closed lower on Tuesday as it consolidates some of this month's gains. The low-range close sets the stage for a steady to lower opening when Wednesday'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 March renews the rally off April's low, the 50% retracement level of the 2012-2019-decline on the monthly continuation chart crossing at $5.72 1/4 is the next upside target. Closes below the 20-day moving average crossing at $4.84 1/4 would signal that a short-term top has been posted. First resistance is last-Wednesday's high crossing at $5.41 1/2. Second resistance is the 50% retracement level of the 2012-2019-decline crossing at $5.72 1/4 is the next upside target. First support is the 10-day moving average crossing at $5.10 1/4. Second support is the 20-day moving average crossing at $4.84 1/4.    

March wheat closed down $0.03 1/4-cents at $6.72 1/4.  

March wheat posted an inside day with a lower close on Tuesday. The low-range close sets the stage for a steady to lower 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. If March extends the rally off December's low, long-term resistance on the monthly continuation chart crossing at $7.34 1/4 is the next upside target. Closes below the 20-day moving average crossing at $6.40 1/2 would signal that a short-term top has been posted. First resistance is last-Friday's high crossing at $6.93. Second resistance is monthly resistance on the monthly continuation chart crossing at $7.34 1/4. First support is the 20-day moving average crossing at $6.40 1/2. Second support is the 50-day moving average crossing at $6.15 1/4.        

March Kansas City Wheat closed up $0.01-cents at $6.44.

March Kansas City wheat closed slightly higher on Tuesday. The low-range close sets the stage for a steady to slightly higher opening when Wednesday'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 March extends this winter's rally, the December-2014 high on the monthly continuation chart crossing at $7.05 3/4 is the next upside target. Closes below the 20-day moving average crossing at $6.02 would signal that a short-term top has been posted. First resistance is last-Friday's high crossing at $6.60. Second resistance is the December-2014 high on the monthly continuation chart crossing at $7.05 3/4. First support is the 20-day moving average crossing at $6.02. Second support is the 50-day moving average crossing at $5.76.       

March Minneapolis wheat closed up a $0.00 1/4-cent at $6.43 1/2. 

March Minneapolis wheat closed higher on Tuesday. The low-range close sets the stage for a steady to slightly higher opening when Wednesday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible. If March extends the rally off December's low, monthly resistance crossing at $6.58 is the next upside target. Closes below the 20-day moving average crossing at crossing at $6.01 1/2 would confirm that a short-term top has been posted. First resistance is today's high crossing at crossing at $6.53 1/2. Second resistance is monthly resistance crossing at $6.58. First support is the 10-day moving average crossing at crossing at $6.20 3/4. Second support is the 20-day moving average crossing at $6.01 1/2.      

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

March soybeans closed down $0.31-cents at $13.85 3/4.

March soybeans closed sharply lower on Tuesday due to rainy weather in Brazil this past weekend, with more forecasted through the latter half of this month. The low-range close sets the stage for a steady to lower opening when Wednesday'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 March extends this year's rally, the 75% retracement level of the 2012-2019-decline on the monthly continuation chart crossing at $15.39 1/4 is the next upside target. Closes below the 20-day moving average crossing at $13.29 3/4 would signal that a short-term top has been posted. First resistance is last-Wednesday's high crossing at $14.36 1/2. Second resistance is the 75% retracement level of the 2012-2019-decline on the monthly chart crossing at $15.39 1/4. First support is the 20-day moving average crossing at $13.29 3/4. Second support is the 50-day moving average crossing at $12.30.

March soybean meal closed down $12.70 to $450.50. 

March soybean meal closed sharply lower on Tuesday. The low-range close sets the stage for a steady to lower opening when Wednesday'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 March extends the rally off August's low, monthly resistance crossing at $478.40 is the next upside target. Closes below the 20-day moving average crossing at $433.70 would confirm that a short-term top has been posted. First resistance is last-Wednesday's high crossing at $471.40. Second resistance is monthly resistance crossing at $478.40. First support is the 10-day moving average crossing at $449.40. Second support is the 20-day moving average crossing at $433.70.       

March soybean oil closed down 15 pts. at 41.70. 

March soybean oil closed lower on Tuesday. The mid-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. 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 41.96 confirms that a short-term top has been posted. If March resumes the rally off October's low, the March-2014 high on the monthly continuation chart crossing at 45.05 is the next upside target. First resistance is January's high crossing at 44.69. Second resistance is the March-2014 high on the monthly continuation chart crossing at 45.05. First support is today's low crossing at 41.01. Second support is the 50-day moving average crossing at 39.23.      

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

February hogs closed down $1.45 at $66.48. 

February hogs posted an inside day with a lower close on Tuesday. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If February extends this month's decline, the reaction low crossing at $65.77 is the next downside target. Closes above the 10-day moving average crossing at 68.35 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at 68.35. Second resistance is January's high crossing at $72.00. First support is the reaction low crossing at $65.77. Second support is December's low crossing at $63.00. 

February cattle closed up $0.55 at $113.33 

February cattle closed higher on Tuesday. The high-range close sets the stage for a steady to higher  opening on Tuesday. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible. Closes above the 20-day moving average crossing at $114.00 would confirm that a short-term low has been posted. If February extends the decline off December's high, December's low crossing at $110.55 is the next downside target. First resistance is December's high crossing at $116.30. Second resistance is September's high crossing at $116.63. First support is January's low crossing at $111.35. Second support is December's low crossing at $110.55. Third support is November's low crossing at $109.00.   

March Feeder cattle closed up $0.98 at $136.80. 

March Feeder cattle closed higher on Tuesday. The mid-range close sets the stage for a steady to higher opening when Wednesday's session begins trading. Stochastics and the RSI are oversold but are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at $138.69 would signal that a short-term low has been posted. If March extends the decline off December's high, the November 20^th low crossing at $132.45 is the next downside target. First resistance is the 50-day moving average crossing at $138.69. Second resistance is December's high crossing at $143.70. First support is last-Wednesday's low crossing at $132.67. Second support is the November 20th low crossing at $132.45.         

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

March coffee closed lower on Tuesday. The mid-range close sets the stage for a steady to slightly lower opening on Wednesday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off November's low, September's high crossing at 13.57 is the next upside target. Closes below the 50-day moving average crossing at 12.08 would confirm that a short-term top has been posted.    

March cocoa closed higher on Monday. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the January 4^th high crossing at 26.61 would signal that a short-term low has been posted. If March renews the decline off November's high, the November 16^th gap crossing at 23.95.                         

March sugar closed lower on Tuesday as it consolidates some of the rally off last-April's low. The low-range close set the stage for a steady to lower opening on Wednesday. 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 aforementioned rally, weekly resistance crossing at 17.23 is the next upside target. Closes below the 20-day moving average crossing at 15.48 would signal that a short-term top has been posted. 

March cotton closed higher on Tuesday. The mid-range close sets the stage for a steady to higher opening on Wednesday. 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 April's low, monthly resistance crossing at 84.47 is the next upside target. Closes below the 20-day moving average crossing at 78.67 would confirm that a short-term top  has been posted.