KEY EVENTS TO WATCH FOR:

Tuesday, May 25, 2021   

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%  

                       Ret Sales Mo-to-Date, Y/Y% (previous +13.0%)

                       Latest Wk, Y/Y% (previous +12.6%)

9:00 AM ET. 1^st Quarter U.S. Quarterly House Price Index

9:00 AM ET. March U.S. Monthly House Price Index

9:00 AM ET. March S&P CoreLogic Case-Shiller Indices

                       10-City Idx, M/M% (previous +1.1%)

                       10-City Idx, Y/Y% (previous +11.7%)

                       20-City Idx, M/M% (previous +1.2%)

                       20-City Idx, Y/Y% (previous +11.9%)

                       National Idx, M/M% (previous +1.1%)

                       National Idx, Y/Y% (previous +12%)

10:00 AM ET. May Richmond Fed Business Activity Survey

                       Mfg Idx (previous 17)

                       Shipments Idx (previous 16)

10:00 AM ET. May Consumer Confidence Index

                       Cons Conf Idx (previous 121.7)

                       Expectation Idx (previous 109.8)

                       Present Situation Idx (previous 139.6)

10:00 AM ET. April New Residential Sales

                       New Home Sales (previous 1021K)

                       New Home Sales, M/M% (previous +20.7%)

                       New Home Sales Months Supply (previous 3.6)

1:00 PM ET. April Money Stock Measures

4:30 PM ET. API Weekly Statistical Bulletin

                       Crude Stocks, Net Chg (Bbls) (previous +0.6M)

                       Gasoline Stocks, Net Chg (Bbls) (previous -2.8M)

                       Distillate Stocks, Net Chg (Bbls) (previous -2.6M)

Wednesday, May 26, 2021

7:00 AM ET. MBA Weekly Mortgage Applications Survey

                       Composite Idx (previous 724.2)

                       Composite Idx, W/W% (previous +1.2%)

                       Purchase Idx-SA (previous 265.3)

                       Purchase Idx-SA, W/W% (previous -4.1%)

                       Refinance Idx (previous 3413.3)

                       Refinance Idx, W/W% (previous +4.0%)

10:30 AM ET. EIA Weekly Petroleum Status Report

                       Crude Oil Stocks (Bbl) (previous 486.011M)

                       Crude Oil Stocks, Net Chg (Bbl) (previous +1.32M)

                       Gasoline Stocks (Bbl) (previous 234.226M)

                       Gasoline Stocks, Net Chg (Bbl) (previous -1.963M)

                       Distillate Stocks (Bbl) (previous 132.095M)

                       Distillate Stocks, Net Chg (Bbl) (previous -2.324M)

                       Refinery Usage (previous 86.3%)

                       Total Prod Supplied (Bbl/day) (previous 19.272M)

                       Total Prod Supplied, Net Chg (Bbl/day) (previous +1.789M)

Thursday, May 27, 2021  

8:30 AM ET. 1^st Quarter 2nd estimate GDP

                       Annual Rate, Q/Q% (previous +6.4%)

                       Chain-Weighted Price Idx, Q/Q% (previous +4.1%)

                       Corporate Profits, Q/Q% (previous -1.7%)

                       PCE Price Idx, Q/Q% (previous +3.5%)

                       Purchase Price Idx, Q/Q% (previous +3.8%)

                       Real Final Sales, Q/Q% (previous +9.2%)

                       Core PCE Price Idx, Q/Q% (previous +2.3%)

                       Consumer Spending, Q/Q% (previous +10.7%)

8:30 AM ET. 1^st Quarter Preliminary Corporate Profits

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

                       Durable Goods-SA, M/M% (previous +0.5%)

                       Dur Goods, Ex-Defense, M/M% (previous +0.5%)

                       Dur Goods, Ex-Transport, M/M% (previous +1.6%)

                       Orders: Cap Gds, Non-Def, Ex-Air, M/M% (previous +0.9%)

                       Shipmnts: Cap Gds, Non-Def, Ex-Air, M/M% (previous +1.3%)

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

                       Jobless Claims (previous 444K)

                       Jobless Claims, Net Chg (previous -34K)

                       Continuing Claims (previous 3751000)

                       Continuing Claims, Net Chg (previous +111K)

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

                       Corn (Metric Tons) (previous 4339.4K)

                       Soybeans (Metric Tons) (previous 180.2K)

                       Wheat (Metric Tons) (previous 438.7K)

9:45 AM ET. Bloomberg Consumer Comfort Index

10:00 AM ET. April Pending Home Sales Index

                       Pending Home Sales (previous 111.3)

                       Pending Home Sales Idx, M/M% (previous +1.9%)

                       Pending Home Sales Idx , Y/Y% (previous +23.3%)

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

                       Working Gas In Storage (Cbf) (previous 2100B)

                       Working Gas In Storage, Net Chg (Cbf) (previous +71B)

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

                       Mfg Activity Idx (previous 40)

                       6-Mo Exp Prod Idx (previous 45)

                       Mfg Composite Idx (previous 31)

                       6-Mo Exp Composite Idx (previous 34)

4:30 PM ET. Federal Discount Window Borrowings

4:30 PM ET. Foreign Central Bank Holdings

Friday, May 28, 2021  

8:30 AM ET. April Personal Income & Outlays

                       Personal Income, M/M% (previous +21.1%)

                       Consumer Spending, M/M% (previous +4.2%)

                       PCE Price Idx, M/M% (previous +0.5%)

                       PCE Price Idx, Y/Y% (previous +2.3%)

                       PCE Core Price Idx, M/M% (previous +0.4%)

                       PCE Core Price Idx, Y/Y% (previous +1.8%)

8:30 AM ET. April Advance Economic Indicators Report

9:45 AM ET. May Chicago Business Barometer - ISM-Chicago Business Survey - Chicago PMI

                       PMI-Adj (previous 72.1)

10:00 AM ET. May University of Michigan Survey of Consumers – final

                       End-Mo Sentiment Idx (previous 88.3)

                       End-Mo Expectations Idx (previous 82.7)

                       12-Month Inflation Forecast (previous 3.4%)

                       5-Year Inflation Forecast (previous 2.7%)

                       End-Mo Current Idx (previous 97.2)

12:00 PM ET. Annual Industrial Production and Capacity Utilization annual revision

3:00 PM ET. April Agricultural Prices

                       Farm Prices, M/M% (previous +2.6%)

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

The STOCK INDEXES: The June NASDAQ 100 was higher overnight as it extends the rally off the May 13^th low crossing at 12,915.00. The high-range trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the aforementioned rally, the May 7^th high crossing at 13,818.00 is the next upside target. Closes below the 10-day moving average crossing at 13,345.15 would signal that a short-term top has been posted. First resistance is the May 7^th high crossing at 13,818.00. Second resistance is April's high crossing at 14,064.00. First support is the 62% retracement level of the March-April-rally crossing at 12,912.45. Second support is the 75% retracement level of the March-April-rally crossing at 12,666.46.

The June S&P 500 was higher overnight as it extends the rally off the May 13^th low. 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 neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off the May 13^th low, May's high crossing at 4238.25 is the next upside target. Closes below the May 13^th low crossing at 4029.25 would mark a a short-term top has been posted while opening the door for additional weakness near-term. First resistance is the overnight high crossing at 4212.75. Second resistance is May's high crossing at 4238.25.First support is the May 13^th low crossing at 4029.25. Second support is the March 25^th low crossing at 3843.25.  

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

INTEREST RATES: June T-bonds were higher overnight as it extends the corrective rally off the May 13^th low crossing at 155-14. 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 neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off May's low, the 25% retracement level of the 2020-2021-decline crossing at 159-19 is the next upside target. If June renews the decline off May's high, the March 30th low crossing at 153-29 is the next downside 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 March 30^th low crossing at 153-29. Second support is March's low crossing at 153-07.

June T-notes were steady to higher overnight as it extends the rally off May's low. The high-range overnight trade sets the stage for a steady to higher opening with the day session begins trading. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the May 17^th high crossing at 132.215 would mark an upside breakout of the trading range of the past two-weeks while opening the door for additional gains near-term. If June renews the decline off May's high, the April 29^th low crossing at 131.185 is the next downside target. First resistance is the 25% retracement level of the 2020-2021-decline crossing at 133.001. Second resistance is the 38% retracement level of the 2020-2021-decline crossing at 134.054. First support is the April 29^th low crossing at 131.185. Second support is the April 5^th low crossing at 130.255. 

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

July crude oil was steady to slightly lower overnight as it consolidated some of the rally off last-Friday's low. 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 neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above last-Tuesday's high crossing at $67.02 are needed to renew the rally off last-November's low. Closes below last-Friday's low crossing at $61.56 would confirm that a short-term top has been posted while opening the door for a possible test of the April 22^nd low crossing at $60.55. First resistance is last-Tuesday's high crossing at $67.02. Second resistance is the June-2015 high on the monthly continuation chart crossing at $69.69. First support is the April 22^nd low crossing at $60.55. Second support is April's low crossing at $57.63.

July heating oil was lower overnight as it consolidated some of Monday's rally. 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. If July extends the rally off last-Friday's low, the May 12^th high high crossing at $2.0777 is the next upside target. If July resumes last-week's decline, the 50-day moving average crossing at $1.9056 is the next downside target. First resistance is the May 12^th high crossing at $2.0777. Second resistance is the 87% retracement level of the 2018-2020-decline crossing at $2.1362. First support is the 50-day moving average crossing at $1.9056. Second support is the April-26^th low crossing at $1.8371.

July unleaded gas was higher overnight as it consolidates some of last-week's decline. The mid-range overnight trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. If July renews the rally off March's low, the May-2018 high on the monthly continuation chart crossing at $2.2855 is the next upside target. Closes below the 50-day moving average crossing at $2.0282 would open the door for a larger-degree decline near-term. First resistance is May's high crossing at $2.2045. Second resistance is the May-2018 high on the monthly continuation chart crossing at $2.2855. First support is the 50-day moving average crossing at $2.0282. Second support is the April-26^th low crossing at $1.9528.

July Henry natural gas was higher overnight as it consolidates some of the decline off May'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 remain neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends the decline off May's high, the 50-day moving average crossing at 2.860 is the next downside target. Closes above the 10-day moving average crossing at 3.024 would signal that a short-term low has been posted. First resistance resistance is May's high crossing at 3.204. Second resistance is monthly resistance crossing at 3.786. First support is Monday's low crossing at 2.903 Second support is the 50-day moving average crossing at 2.860.  

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

CURRENCIES:The June Dollar was lower overnight as it extends the decline off March'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 are turning neutral to bullish hinting that a low might be in or is near. If June extends the decline off March's high, January's low crossing at $89.16 is the next downside target. Closes above the 20-day moving average crossing at $90.43 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at $90.43. Second resistance is the May 5^th high crossing at $91.44. First support is the 87% retracement level of the January-March-rally crossing at $89.71. Second support is the January low crossing at $89.16.

The June Euro was higher overnight as it renewed 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, the 87% retracement level of the January-March-decline crossing at $123.08 is the next upside target. Closes below the 20-day moving average crossing at $121.38 would signal that a short-term top has been posted. First resistance is the overnight high crossing at $122.67. Second resistance is the 87% retracement level of the January-March-decline crossing at $123.08. First support is the 20-day moving average crossing near $121.38. Second support is the 50-day moving average crossing at $120.13.

The June British Pound was steady to slightly higher overnight. The low-range overnight trade sets the stage for a steady to lower opening when the day session beings 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 May's low, February's high crossing at 1.4245 is the next upside target. Closes below the 20-day moving average crossing at 1.4046 would signal that a short-term top has been posted. First resistance is last-Friday's high crossing at 1.4235. Second resistance is February's high crossing at 1.4245. First support is the 20-day moving average crossing at 1.4046. Second support is the 50-day moving average crossing at 1.3915.

The June Swiss Franc was higher overnight as it extends the rally off April's low. 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 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 75% retracement level of the January-April-decline crossing at 1.1233 is the next upside target. Closes below the 20-day moving average crossing at 1.1065 would signal that a short-term top has been posted while opening the door for additional weakness near-term. First resistance is the overnight high crossing at 1.1203. Second resistance is the 75% retracement level of the January-April-decline crossing at 1.1233. First support is the 20-day moving average crossing at 1.1065. Second support is the May 5^th low crossing at 1.0923.

The June Canadian Dollar was steady to slightly higher overnight. The low-range 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. If June extends this year's rally, the May-2015 high on the monthly continuation chart crossing at $83.86 is the next upside target. Closes below the 20-day moving average crossing at $82.28 would signal that a short-term top has been posted. First resistance is last-Tuesday's high crossing at $83.25. Second resistance is the May-2015 high on the monthly continuation chart crossing at $83.86. First support is the 20-day moving average crossing at $82.28. Second support is the May 4^th low crossing at $80.95.  

The June Japanese Yen 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. Closes above the May 7^th high crossing at 0.092325 would signal that a short-term low has been posted. If June renews the decline off April's high, March's low crossing at 0.090180 is the next downside target. First resistance is the 38% retracement level of the January-March-decline crossing at 0.092994. Second resistance is the 50% retracement level of the January-March-decline crossing at 0.093874. First support is the April-9^th low crossing at 0.090990. Second support is March's low crossing at 0.090180.  

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

PRECIOUS METALS: June gold was lower overnight as it consolidates below the 50% retracement level of August-April-decline crossing at $1894.10. 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 June extends the rally off March's low, the 62% retracement level of August-April-decline crossing at $1945.50 is the next upside target. Closes below the 20-day moving average crossing at $1830.50 would signal that a short-term top has been posted. First resistance is 50% retracement level of August-April-decline crossing at $1894.10. Second resistance is 62% retracement level of August-April-decline crossing at $1945.50. First support is the 10-day moving average crossing at $1862.70. Second support is the 20-day moving average crossing at $1830.50.

July silver was lower overnight. 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 remain neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at $27.284 would signal that a short-term top has been posted. If July extends the rally off March's low, the 87% retracement level of the January-March-decline crossing at $29.199 is the next upside target. First resistance is the 87% retracement level of the January-March-decline crossing at $29.199. Second resistance is February's high crossing at $30.015. First support is the 20-day moving average crossing at $27.284. Second support is the May 13^th low crossing at $26.780. 

July copper was steady to slightly lower in late-overnight trading. 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 July extends the decline off May's high, the 50-day moving average crossing at 4.3235 is the next downside target. Closes above the 10-day moving average crossing at 4.6182 would signal that a short-term low has been posted. First resistance is the May 18^th high crossing at 4.7820. Second resistance is May's high crossing at 4.8880. First support is Monday's low crossing at 4.4440. Second support is the 50-day moving average crossing at 4.3235.  

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

July corn was lower overnight as it extends the trading range of the past two-weeks. The low-range close sets the stage for a steady to lower opening when the day sessions begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If July resumes the decline off May's high, the 50% retracement level of this year's rally crossing at $6.06 3/4 is the next downside target. Closes above the 20-day moving average crossing at $6.78 1/2 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at $6.78 1/2. Second resistance is May's high crossing at $7.35 1/4. First support is the 38% retracement level of this year's rally crossing at $6.37 1/4. Second support is the 50% retracement level of this year's rally crossing at $6.06 3/4.        

July wheat was higher overnight as it consolidates some of the decline off May's high. The high-range close 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 July extends the decline off May's low, the 75% retracement level of April's rally crossing at $6.36 1/2 is the next downside target. Closes above the 20-day moving average crossing at $7.12 3/4 would signal that a short-term low has been posted.First resistance is the 10-day moving average crossing at $6.89. Second resistance is the 20-day moving average crossing at $7.12 3/4. First support is the 62% retracement level of April's rally crossing at $6.59 3/4. Second support is the 75% retracement level of April's rally crossing at $6.36 1/2.

July Kansas City wheat was higher overnight as it consolidates some of the decline off May's high. The high-range close 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 July extends the aforementioned decline, the 75% retracement level of the March-April-rally crossing at $6.04 3/4 is the next downside target. Closes above the 20-day moving average crossing at $6.74 3/4 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $6.42. Second resistance is the 20-day moving average crossing at $6.74 3/4. First support is the75% retracement level of the March-April-rally crossing at $6.04 3/4. Second support is the 87% retracement level of the March-April-rally crossing at $5.83.

July Minneapolis wheat was higher overnight as it consolidates some of the decline off May's high. The mid-range close 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 July extends aforementioned decline, the 62% retracement level of the March-April-rally crossing at $6.82 1/2 is the next downside target. Closes above the 20-day moving average crossing at $7.40 1/4 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $7.14 1/4. Second resistance is the 20-day moving average crossing at $7.40 1/4. First support is the 62% retracement level of the April-May-rally crossing at $6.82 1/2. Second support is the 75% retracement level of the April-May-rally crossing at $6.55 3/4. 

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

July soybeans was higher overnight as it consolidates some of the decline off May's high. The mid-range close 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 July extends the decline off May's high, the April-28^th low crossing at $14.90 1/2 is the next downside target. Closes above the 10-day moving average crossing at $15.62 3/4 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $15.62 3/4. Second resistance is May's high crossing at $16.67 1/2. First support is the April-28^th low crossing at $14.90 1/2. Second support is the 50-day moving average crossing at $14.76 1/2.

July soybean meal was lower overnight as it extends the decline off May's high. The low-range close 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 sideways to lower prices are possible near-term. If July extends the decline off May's high, the 38% retracement level of the 2020-2021-rally  crossing at $3.93.40 is the next downside target. Closes above the 20-day moving average crossing at $420.30 would signal that a short-term low has likely been posted. First resistance is the 50-day moving average crossing at $413.70. Second resistance is the 20-day moving average crossing at $420.30. First support is March's low crossing at $395.90. Second support is the 38% retracement level of the 2020-2021-rally crossing at $393.40.     

July soybean oil was higher overnight as it consolidates some of the rally off May'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 neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 64.86 would confirm that a short-term top has been posted. If July resumes this year's rally, the March-2008 high on the monthly continuation chart crossing at 71.26 is the next upside target. First resistance is last-Tuesday's high crossing at 70.49. Second resistance is the March-2008 high on the monthly continuation chart crossing at 71.26. First support is the 20-day moving average crossing at 64.86. Second support is the 50-day moving average crossing at 57.85.   

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

July hogs closed down $1.23 at $115.33. 

July hogs posted an inside day with a lower close on Monday as it consolidated some of the rally off last-October's low. The mid-range close sets the stage for a steady to lower opening when Tuesday'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 July extends this year's rally, the 87% retracement level of the 2014-2016 decline on the monthly continuation chart crossing at $121.70 is the next upside target. Closes below the 50-day moving average crossing at $106.55 would signal that a short-term top has been posted. First resistance is last-Friday's high crossing at $116.55. Second resistance is the 87% retracement level of the 2014-2016 decline on the monthly continuation chart crossing at $121.70. First support is last-Monday's low crossing at $107.88. Second support is the 50-day moving average crossing at $106.55.  

August cattle closed down $0.83 at $120.10. 

August cattle closed lower on Monday. The high-range close sets the stage for a steady to slightly lower opening on Tuesday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If August extends last-week's rally, May's high crossing at $122.80 is the next upside target. If June renews the decline off May's high, May's low crossing at $112.57 is the next downside target. First resistance is May's high crossing at $122.80. Second resistance is April's  high crossing at $124.45. First support is last-Monday's low crossing at $117.95. Second support is April's low crossing at $115.92. 

August Feeder cattle closed up $0.43 at $154.13. 

August Feeder cattle closed higher on Monday and above the 50-day moving average crossing at $153.74 opening the door for additional gains near-term. The high-range close sets the stage for a steady to higher opening when Tuesday's 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 August extends the rally off May's low, the 75% retracement level of the April-May-decline crossing at $157.20 is the next upside target. Closes below the 20-day moving average crossing at $149.24 would signal that a short-term top has been posted. First resistance is the 62% retracement level of the April-May-decline crossing at $154.44. Second resistance is the 75% retracement level of the April-May-decline crossing at $157.20. First support is the 20-day moving average crossing at $149.24. Second support is May's low crossing at $141.53.           

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

July coffee closed lower on Monday. The mid-range close sets the stage for a steady to lower opening on Tuesday. 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 14.75 would signal that a short-term top has been posted. If July renews the rally off March's low, the November-2016 high crossing at 17.60 is the next upside target.              

July cocoa posted an outside day down as it closed sharply lower on Monday to extend the decline off May's high. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends today's decline, May's low crossing at 23.17 is the next downside target. If July renews this month's rally, the March 11^th high crossing at 26.21 is the next upside target.               

July sugar closed higher on Monday as it consolidated some of the decline off May's high. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends the aforementioned decline, the 50-day moving average crossing at 16.27 is the next downside target. If July renews the rally off March's low, long-term resistance on the monthly continuation chart crossing at 18.42 is the next upside target.          

July cotton closed unchanged on Monday as it extended the trading range of the past five-days. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends the decline off April's high, the April 13^th low crossing at 81.20 is the next downside target. Closes above the 20-day moving average crossing at 86.32 would signal that a short-term low has been posted.