KEY EVENTS TO WATCH FOR:

Thursday, April 22, 2021

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

                       Corn (Metric Tons) (previous 380.3K)

                       Soybeans (Metric Tons) (previous 356K)

                       Wheat (Metric Tons) (previous 217.8K)

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

                       Jobless Claims (expected 608K; previous 576K)

                       Jobless Claims, Net Chg (previous -193K)

                       Continuing Claims (previous 3731000)

                       Continuing Claims, Net Chg (previous +4K)

8:30 AM ET. March CFNAI Chicago Fed National Activity Index

                       NAI (previous -1.09)

                       NAI, 3-mo Moving Avg (previous -0.02)

9:45 AM ET. Bloomberg Consumer Comfort Index

10:00 AM ET. March Existing Home Sales

                       Existing Sales (expected 6.03M; previous 6.22M)

                       Existing Sales, M/M% (expected -3.1%; previous -6.6%)

                       Unsold Homes Month's Supply (previous 2.0)

                       Median Price (USD) (previous 313000)

                       Median Home Price, Y/Y% (previous +15.8%)

10:00 AM ET. March Leading Indicators

                       Leading Index, M/M% (expected +0.9%; previous +0.2%)

                       Leading Index (previous 110.5)

                       Coincident Index, M/M% (previous -0.1%)

                       Lagging Index, M/M% (previous +0.2%)

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

                       Working Gas In Storage (Cbf) (previous 1845B)

                       Working Gas In Storage, Net Chg (Cbf) (previous +61B)

11:00 AM ET. April Federal Reserve Bank of Kansas City Survey of Tenth District Manufacturing

                       Mfg Activity Idx (previous 23)

                       6-Mo Exp Prod Idx (previous 45)

                       Mfg Composite Idx (expected 27; previous 26)

                       6-Mo Exp Composite Idx (previous 35)

4:30 PM ET. Foreign Central Bank Holdings

4:30 PM ET. Federal Discount Window Borrowings

Friday, April 23, 2021  

9:45 AM ET. April US Flash Services PMI

                       PMI, Services (expected 61.0; previous 60.0)

9:45 AM ET. April US Flash Manufacturing PMI

                       PMI, Mfg (expected 60.5; previous 59.0)

10:00 AM ET. March New Residential Sales

                       New Home Sales (expected 893K; previous 775K)

                       New Home Sales, M/M% (expected +15.2%; previous -18.2%)

                       New Home Sales Months Supply (previous 4.8)

Monday, April 26, 2021  

8:30 AM ET. March Advance Report on Durable Goods

                       Durable Goods-SA, M/M% (previous -1.1%)

                       Dur Goods, Ex-Defense, M/M% (previous -0.7%)

                       Dur Goods, Ex-Transport, M/M% (previous -0.9%)

                       Orders: Cap Gds, Non-Def, Ex-Air, M/M% (previous -0.8%)

                       Shipmnts: Cap Gds, Non-Def, Ex-Air, M/M% (previous -1.0%)

10:30 AM ET. April Texas Manufacturing Outlook Survey

                       Business Activity (previous 28.9)

                       Mfg Production Idx (previous 48.0)

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

The STOCK INDEXES: The June NASDAQ 100 was lower overnight as it consolidates some of Wednesday's rally. The low-range trade sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are overbought 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 13,571.81 would signal that a short-term top has been posted. If June renews the rally off March's low into uncharted territory, upside targets will be hard to project. First resistance is last-Friday's high crossing at 14,059.50. Second resistance is unknown. First support is the 20-day moving average crossing at 13,571.81. Second support is the 50-day moving average crossing at 13,287.24.  

The June S&P 500 was steady to slightly lower overnight.The mid-range overnight trade sets the stage for a steady to slightly lower opening when the day session begins trading later this morning.Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off last-September's low into uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average crossing at 4073.88 would signal that a short-term top has been posted. First resistance is last-Friday's high crossing at 4183.50. Second resistance is unknown.First support is the 20-day moving average crossing at 4073.88. Second support is the 50-day moving average crossing at 3960.54.  

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

INTEREST RATES: June T-bonds were steady to slightly lower overnight. The low-range overnight trade sets the stage for a steady to slightly lower opening when the day 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 20-day moving average crossing at 156-21 would signal that a short-term top has been posted. If June extends the rally off March's low, the 25% retracement level of the 2020-2021-decline crossing at 159-19 is the next upside target. First resistance is the 25% retracement level of the 2020-2021-decline crossing at 159-19. Second resistance is the 38% retracement level of the 2020-2021-decline crossing at 162-31. First support is the 20-day moving average crossing at 156-21. Second support is March's low crossing at 153-07.

June T-notes were steady to slightly lower overnight. The low-range overnight trade sets the stage for a steady to lower opening with 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. Closes above the 50-day moving average crossing at 132.166 would open the door for additional short covering gains and a possible test of the 25% retracement level of the 2020-2021-decline crossing at 133.001. Closes below the 20-day moving average crossing at 131.264 would signal that a short-term top has been posted. First resistance is the 50-day moving average crossing at 132.166. Second resistance is the 25% retracement level of the 2020-2021-decline crossing at 133.001. First support is the 20-day moving average crossing at 131.264. Second support is the April 5^th low crossing at 130.255. 

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

June crude oil was slightly lower overnight as it extends the decline off Tuesday'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 have turned neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at $60.87 would signal that a short-term top has been posted. If June renews the rally off March's low, March's high crossing at $67.29 is the next upside target. First resistance is Tuesday's high crossing at $64.38. Second resistance is March's high crossing at $67.29. First support is the 20-day moving average crossing at $60.87. Second support is the March 23^rd low crossing at $57.29.

June heating oil was steady to slightly lower overnight as it extends the decline off Tuesday'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 have turned neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at $1.8292 would signal that a short-term top has been posted. If June renews the rally off March's low, March's high crossing at $1.9778 is the next upside target. First resistance is Tuesday's high crossing at $1.9174. Second resistance is March's high crossing at $1.9778. First support is the 20-day moving average crossing at $1.8292. Second support is the March 23^rd low crossing at $1.7344.

June unleaded gas was lower overnight as it extends the decline off Tuesday'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 neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at $1.9647 would signal that a short-term top has been posted. If June renews the rally off March's low, March's high crossing at $2.1280 is the next upside target. First resistance is Tuesday's high crossing at $2.0742. Second resistance is March's high crossing at $2.1280. First support is the 50-day moving average crossing at $1.9647. Second support is the March 23^rd low crossing at $1.8618.

June Henry natural gas was lower overnight as it consolidates some of the rally off April'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 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 2.685 would signal that a short-term top has been posted. If June extends the rally off April's low, the 62% retracement level of the February-March-decline crossing at 2.869 is the next upside target. First resistance resistance is Tuesday's high crossing at 2.830. Second resistance is the 62% retracement level of the February-March-decline crossing at 2.869. First support is the 10-day moving average crossing at 2.727. Second support is the 20-day moving average crossing at 2.685.  

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

CURRENCIES:The June Dollar was lower overnight and poised to extend the decline off March's high. 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends the aforementioned decline, the March low crossing at $90.62 is the next downside target. Closes above the 20-day moving average crossing at $92.17 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $91.54. Second resistance is the 10-day moving average crossing at $92.17. First support is March's low crossing at $90.62. Second support is February's low crossing at $89.66.

The June Euro was higher overnight and poised to resume the rally off March's low. 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off March's low, March's high crossing at $121.40 is the next upside target. Closes below the 20-day moving average crossing at $119.08 would signal that a short-term top has been posted. First resistance is March's high crossing at $121.40. Second resistance is February's high crossing at $122.71. First support is the 10-day moving average crossing at $119.97. Second support is the 20-day moving average crossing at $119.08.

The June British Pound was steady to slightly lower overnight as it consolidates some of the rally off April's low. The mid-range overnight trade sets the stage for a steady to lower opening when the day session beings trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 1.3812 would signal that a short-term top has been posted. If June resumes the rally off April's low, February's high crossing at 1.4245 is the next upside target. First resistance is Tuesday's high crossing at 1.4012. Second resistance is February's high crossing at 1.4245. First support is the 20-day moving average crossing at 1.3812. Second support is the 38% retracement level of the September-February rally crossing at 1.3672.

The June Swiss Franc was higher overnight following a two-day correction off Monday's high. 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off April's low, the 50% retracement level of the January-April-decline crossing at 1.1014 is the next upside target. Closes below the 20-day moving average crossing at 1.0793 would signal that a short-term top has been posted. First resistance is Monday's high crossing at 1.0971. Second resistance is the 50% retracement level of the January-April-decline crossing at 1.1117. First support is the 10-day moving average crossing at 1.0892. Second support is the 20-day moving average crossing at 1.0793.

The June Canadian Dollar is working on a possible inside day and was steady to slightly lower overnight as it consolidated some of Wednesday's rally. The low-range trade sets the stage for a steady to slightly lower opening when the day session begins trading. Stochastics and the RSI are poised to turn neutral to bullish with additional strength that would signal that sideways to lower prices are possible near-term. If June renews the rally off last-Tuesday's low, March's high crossing at $80.88 is the next upside target. Closes below Wednesday's low crossing at $79.06 would open the door for a possible test of the February 26^th low crossing at $78.42. First resistance is Wednesday's high crossing at $80.27. Second resistance is March's high crossing at $80.88. First support is Wednesday's low crossing at $79.06. Second support is the February 26^th low crossing at $78.42.  

The June Japanese Yen was steady to slightly higher overnight as it extends the rally off March's low. The low-range overnight trade sets the stage for a steady to slightly higher 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. Closes above the 50-day moving average crossing at 0.0926 would open the door for additional short-term gains. Closes below the 20-day moving average crossing at 0.0915 would signal that a short-term top has been posted. First resistance is the 50-day moving average crossing at 0.0926. Second resistance is the 38% retracement level of the January-March-decline crossing at 0.0930. First support is the 20-day moving average crossing at 0.0915. Second support is March's low crossing at 0.0902. 

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

PRECIOUS METALS: June gold was lower in late-overnight trading as it consolidates some of the rally off the late-March 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 June extends the rally off March's low, the February 23^rd high crossing at $1817.60 is the next upside target. Closes below the 20-day moving average crossing at $1745.80 would signal that a short-term top has been posted. First resistance is the February 23^rd high crossing at $1817.60. Second resistance is the 38% retracement level of August-April-decline crossing at $1841.30. First support is the 10-day moving average crossing at $1763.80. Second support is the 20-day moving average crossing at $1745.80.

May silver was lower overnight and working on a possible inside day as it consolidates some of the rally off March's low. The low-range overnight trade sets the stage for a steady to lower opening when the day session begins trading later this morning. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If May extends the rally off March's low, the 50% retracement level of the January-March-decline crossing at $26.902 is the next upside target. Closes below the 20-day moving average crossing at $25.364 would signal that a short-term top has been posted. First resistance is the 50% retracement level of the January-March-decline crossing at $26.902. Second resistance is the 62% retracement level of the January-March-decline crossing at $27.649. First support is the 10-day moving average crossing at $25.790. Second support is the 20-day moving average crossing at $25.364. 

May copper was steady to lower in overnight trading as it consolidates some of Wednesday's rally. 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If May extends this month's rally, February's high crossing at 4.3755 is the next upside target. Closes below the 50-day moving average crossing at 4.0764 would signal that a short-term top has been posted while opening the door for additional weakness near-term. First resistance is Tuesday's high crossing at 4.2965. Second resistance is February's high crossing at 4.3755. First support is the 50-day moving average crossing at 4.0764. Second support is April's low crossing at 3.9435.  

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

July corn was higher overnight as it extends the rally off March's low. The high-range close sets the stage for a steady to higher opening when the day 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 July extends this year's rally, the 62% retracement level of the 2012-2020 decline crossing at $6.36 is the next upside target. Closes below the 20-day moving average crossing at $5.60 1/4 would signal that a short-term top has been posted. First resistance is the overnight high crossing at $6.17 3/4. Second resistance is the 62% retracement level of the 2012-2020 decline crossing at $6.36. First support is the 10-day moving average crossing at $5.80 1/2. Second support is the 20-day moving average crossing at $5.60 1/4.        

July wheat was higher overnight as it extends the rally off March's low. The high-range close sets the stage for a steady to higher 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 July extends the aforementioned rally, long-term resistance on the weekly continuation chart crossing at $6.93 is the next upside target. Closes below the 20-day moving average crossing at $6.33 1/4 would signal that a short-term top has likely been posted. First resistance is the overnight high crossing at $6.84. Second resistance is long-term resistance on the weekly continuation chart crossing at $6.93. First support is the 10-day moving average crossing at $6.53 3/4. Second support is the 20-day moving average crossing at $6.33 1/4. 

July Kansas City wheat was higher overnight as it extends the rally off March's low. The high-range close sets the stage for a steady to higher 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 July extends the rally off March's low, February's high crossing at $6.67 is the next upside target. Closes below the 20-day moving average crossing at $5.93 1/2 would signal that a short-term top has been posted. First resistance is the overnight high crossing at $6.46 1/2. Second resistance is February's high crossing at $6.67. First support is the 10-day moving average crossing at $6.14 1/2. Second support isthe 20-day moving average crossing at $5.93 1/2.

July Minneapolis wheat was higher overnight as it extends the rally off April's low. The high-range close sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are overbought but remain bullish signaling that sideways to higher prices are possible near-term. If July extends this month's rally, monthly resistance crossing at $7.22 is the next upside target. Closes below the 20-day moving average crossing at $6.46 3/4 would signal that a short-term top has been posted. First resistance is the overnight high crossing at $6.96 1/4. Second resistance is monthly resistance crossing at $7.22. First support is the 10-day moving average crossing at $6.70 3/4. Second support is the 20-day moving average crossing at $6.46 3/4. 

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

July soybeans were higher overnight and trading above psychological resistance crossing at $15.00 as it extends the rally off last-April's low.The high-range close sets the stage for a steady to higher 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 July extends this year's rally, the 75% retracement level of the 2012-2019-decline on the monthly continuation chart crossing at $15.39 1/2 is the next upside target. Closes below the 50-day moving average crossing at $14.00 1/2 would signal that a short-term top has been posted. First resistance is the overnight high crossing at $15.04 1/2. Second resistance is the 75% retracement level of the 2012-2019-decline on the monthly continuation chart crossing at $15.39 1/2. First support is the 10-day moving average crossing at $14.26 3/4. Second support is the 20-day moving average crossing at $14.13.  

July soybean meal were higher overnight as it extends the rally off last-week's low. The high-range close sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are bullish signaling sideways to higher prices are possible near-term. If July extends the rally off April's low, April's high crossing at $433.60 is the next upside target. Closes below the 10-day moving average crossing at $408.90 would signal that a short-term top has been posted while opening the door for a possible test of  the 38% retracement level of the August-January rally crossing at $393.40. First resistance is the April 1^st high crossing at $433.60. Second resistance is the February 9^th high crossing at $437.00. First support is the 38% retracement level of the August-January rally crossing at $393.40. Second support is the 50% retracement level of August-January rally crossing at $373.40.      

July soybean oil was higher overnight as it extends this year's rally to a new contract high. 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If July extends this year's rally, weekly resistance crossing at 59.60 is the next upside target. Closes below the 20-day moving average crossing at 52.16 would signal that a short-term top has been posted. First resistance is the overnight high crossing at 58.47. Second resistance is weekly resistance crossing at 59.60. First support is the 10-day moving average crossing at 53.52. Second support is the 20-day moving average crossing at 52.16.       

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

June hogs closed down $1.83 at $104.53. 

June hogs closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If June renews the rally off November's low, the 75% retracement level of the 2014-2016 decline on the monthly continuation chart crossing at $110.53 is the next upside target. If June extends the decline off April's high, the 50-day moving average crossing at $99.67 is the next downside target. First resistance is April's high crossing at $110.08. Second resistance is the 75% retracement level of the 2014-2016 decline on the monthly continuation chart crossing at $110.53. First support is the 50-day moving average crossing at $99.67. Second support is the March 22^nd low crossing at $97.62. 

June cattle closed down $1.95 at $117.25. 

June cattle closed sharply lower on Wednesday as it resumed the decline off April's high. The low-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that a short-term top might be in or is near. If June extends the aforementioned decline, the 50% retracement level of the October-April-rally crossing at $114.37 is the next downside target. Closes above the 20-day moving average crossing at $121.61 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at $120.40. Second resistance is the 20-day moving average crossing at $121.61. First support is today's low crossing at $116.92. Second support is the 50% retracement level of the October-April-rally crossing at $114.37. 

May Feeder cattle closed down $3.18 at $139.60. 

May Feeder cattle closed sharply lower on Wednesday as it extends the decline off April's high. The low-range close sets the stage for a steady to lower opening when Thursday's session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that additional weakness is possible near-term. If May extends the aforementioned decline, January's low crossing at $136.90 is the next downside target. Closes above the 20-day moving average crossing at $148.12 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $145.68. Second resistance is the 20-day moving average crossing at $148.12. First support is today's low crossing at $138.72. Second support is January's low crossing at $136.90.            

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

July coffee closed lower on Wednesday. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are becoming overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If July extends the rally off March's low, the March 16^thhigh crossing at 13.60 is the next upside target. Closes below the 20-day moving average crossing at 12.97 would signal that a short-term top has been posted.           

July cocoa closed higher on Wednesday. The mid-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes above Tuesday's crossing at 25.03 would open the door for additional gains near-term. Closes above Tuesday's high crossing at 25.03 are needed to renew the rally off April's low.             

July sugar closed higher on Wednesday as it extended the rally off March's low. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If July extends the aforementioned rally, weekly resistance crossing at 18.42 is the next upside target. Closes below the 20-day moving average crossing at 15.47 would signal that a short-term top has been posted.       

July cotton closed higher on Wednesday The high-range close sets the stage for a steady to higher opening on Thursday. 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 86.53 would open the door for additional gains near-term. Closes below the 20-day moving average crossing at 82.69 would signal that a short-term top has been posted.