KEY EVENTS TO WATCH FOR:

Tuesday, June 29, 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%

                       Latest Wk, Y/Y%

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

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

                       10-City Idx, M/M% (previous +2.0%)

                       10-City Idx, Y/Y% (previous +12.8%)

                       20-City Idx, M/M% (previous +2.2%)

                       20-City Idx, Y/Y% (previous +13.3%)

                       National Idx, M/M% (previous +2.0%)

                       National Idx, Y/Y% (previous +13.2%)

10:00 AM ET. June Consumer Confidence Index

                       Cons Conf Idx (previous 117.2)

                       Expectation Idx (previous 99.1)

                       Present Situation Idx (previous 144.3)

4:30 PM ET. API Weekly Statistical Bulletin

                       Crude Stocks, Net Chg (Bbls)

                       Gasoline Stocks, Net Chg (Bbls)

                       Distillate Stocks, Net Chg (Bbls)

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

The STOCK INDEXES: The September NASDAQ 100 was lower overnight as it consolidates some of Monday's rally. The mid-range 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 September extends the rally off May's low into uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average crossing at 14,046.49 would signal that a short-term top has been posted. First resistance is Monday's high crossing at 14,519.75. Second resistance is unknown. First support is the 20-day moving average crossing at 14,046.49. Second support is the 50-day moving average crossing at 13,771.66.

The September S&P 500 was steady to slightly lower overnight.The high-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 September extends this year's rally into uncharted territory, upside targets will be hard to project. Closes below last-Monday's low crossing at 4126.75 would confirm that a short-term top has been posted. First resistance is the overnight high crossing at 4282.25. Second resistance is unknown. First support is the 20-day moving average crossing at 4226.62. Second support is the 50-day moving average crossing at 4183.94.    

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

INTEREST RATES: September T-bonds was steady overnight as it consolidate some of the decline off last-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 remain neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 158-26 would signal that a short-term top has been posted and would open the door for additional weakness near-term. If September renews the rally off May's low, the 62% retracement level of the 2020-2021-decline crossing at 164-14 is the next upside target. First resistance is the 50% retracement level of the 2020-2021-decline crossing at 162-05. Second resistance is the 62% retracement level of the 2020-2021-decline crossing at 164-14. First support is the 20-day moving average crossing at 158-26. Second support is the 50-day moving average crossing at 157-03.  

September T-notes was steady to slightly lower overnight. The high-range overnight trade sets the stage for a steady to slightly higher opening with 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 June 17th low crossing at 131.140 would confirm that a short-term top has been posted while opening the door for additional weakness near-term. If September renews its rally off March's low, the 50% retracement level of the 2020-2021-decline crossing at 133.163 is the next upside target. First resistance is the June 11^th high crossing at 133.065. Second resistance is the 50% retracement level of the 2020-2021-decline crossing at 133.163. First support is the June 16^th low crossing at 131.140. Second support is May's low crossing at 131.000.  

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

August crude oil was steady to slightly lower overnight. 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 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 $71.22 would signal that a short-term top has been posted. If August extends this year's rally, the October-2018 high on the monthly continuation chart crossing at $76.90 is the next upside target. First resistance is Monday's high crossing at $74.45. Second resistance is the October-2018 high on the monthly continuation chart crossing at $76.90. First support is the 20-day moving average crossing at $71.22. Second support is the 50-day moving average crossing at $67.03.

August heating oil was steady to 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 bearish signaling that a short-term top might be in or is near. Closes below the 50-day moving average crossing at $2.0426 would signal that a short-term top has been posted. If August extends this year's rally, the October-2018 high crossing at $2.2875 is the next upside target. First resistance is last-Wednesday's high crossing at $2.1916. Second resistance is the October-2018 high crossing at $2.2806. First support the 50-day moving average crossing at $2.0426. Second support is the May 21^st low crossing at $1.9490.  

August unleaded gas 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 have turned neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at $2.1296 would confirm that a short-term top has been posted. If July extends the rally off May's low, the 62% retracement level of the 2008-2020-decline on the monthly continuation chart crossing at $2.3876 is the next upside target. First resistance is last-Friday's high crossing at $2.2937. Second resistance is the 62% retracement level of the 2008-2020-decline on the monthly continuation chart crossing at $2.3876. First support is the 50-day moving average crossing at $2.1296. Second support is May's low crossing at $2.0200.

August Henry natural gas was steady to higher overnight as it extends 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 July extends the rally off March's low, monthly resistance crossing at 3.786 is the next upside target. Closes below the 20-day moving average crossing at 3.277 would signal that a short-term top has been posted. First resistance resistance is Monday's high crossing at 3.563. Second resistance is monthly resistance crossing at 3.786. First support is the 20-day moving average crossing at 3.277. Second support is the 50-day moving average crossing at 3.113.  

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

CURRENCIES:The September Dollar was higher 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 bullish again signaling that sideways to higher prices are possible near-term. If September renews the rally off May's low, the 75% retracement level of the March-May-decline crossing at $92.46. Closes below the 20-day moving average crossing at $91.02 would signal that a short-term top has been posted. First resistance is the 75% retracement level of the March-May-decline crossing at $92.46. Second resistance is the 87% retracement level of the March-May-decline crossing at $92.93. First support is the 10-day moving average crossing at $91.83. Second support is the 20-day moving average crossing at $91.02.

The September Euro 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 bearish signaling that sideways to lower prices are possible near-term. If September resumes this month's decline, the 87% retracement level of the March-May-rally crossing at $118.17 is the next downside target. Closes above the 20-day moving average crossing at $120.63 would signal that a short-term low has been posted. First resistance is last-Friday's high crossing at $119.95. Second resistance is the 20-day moving average crossing at $120.63. First support is the 75% retracement level of the March-May-rally crossing at $118.83. Second support is the the 87% retracement level of the March-May-rally crossing at $118.17.

The September British Pound was lower 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 have turned neutral to bearish signaling that sideways to lower prices are possible near-term. If September renews this month's decline, April's low crossing at 1.3678 is the next downside target. Closes above the 50-day moving average crossing at 1.4031 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at 1.4031. Second resistance is June's high crossing at 1.4253. First support is last-Monday's low crossing at 1.3788. Second support is April's low crossing at 1.3678.

The September Swiss Franc was steady to 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends this month's decline, the 75% retracement level of the March-June-rally crossing at 1.0774 is the next downside target. Closes above the 50-day moving average crossing at 1.1062 would signal that a short-term low has been posted. First resistance is last Friday's high crossing at 1.0960. Second resistance is the 50-day moving average crossing at 1.1062. First support is the 62% retracement level of the March-June-rally crossing at 1.0854. Second support is the 75% retracement level of the March-June-rally crossing at 1.0774. 

The September Canadian Dollar was steady to 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 turning neutral to bearish signaling that sideways to lower prices are possible near-term. If September resumes the decline off June's high, the 25% retracement level of the 2020-2021-rally crossing at $79.62 is the next downside target. Closes above the 50-day moving average crossing at $81.87 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at $81.87. Second resistance is June's high crossing at $83.28. First support is last-Monday's low crossing at $80.08. Second support is the 25% retracement level of the 2020-2021-rally crossing at $79.62.  

The September Japanese Yen was steady to slightly lower overnight. 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 0.090867 would signal that a short-term low has been posted. If September extends the decline off April's high, weekly support on the continuation chart crossing at 0.089205 is the next downside target. First resistance is the 20-day moving average crossing at 0.090867. Second resistance is the 50-day moving average crossing at 0.091490. First support is last-Thursday's low crossing at 0.090050. Second support is weekly support on the continuation chart crossing at 0.089205.  

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

PRECIOUS METALS: August gold was lower overnight as it extends the trading range of the past seven-days. 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 August extends the decline off June's high, the April-29^th low crossing at $1756.80 is the next downside target. Closes above the 20-day moving average crossing at $1835.60 would signal that a short-term low has been posted. First resistance is last-Wednesday's high crossing at $1795.60. Second resistance is the 50-day moving average crossing at $1833.90. First support is the April-29^th low crossing at $1756.80. Second support is the April-13^th low crossing at $1725.50.

July silver was lower overnight as it extends the trading range of the past seven-days. 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends this month's decline, the April 13^th low crossing at $24.725 is the next downside target. Closes above the 20-day moving average crossing at $27.056 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $26.188. Second resistance is the 20-day moving average crossing at $27.056. First support is last-Monday's low crossing at $25.580. Second support is the April 13^th low crossing at $24.725. 

July copper 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 have turned neutral to bearish signaling that sideways to lower prices are possible near-term. If July renews the decline off May's high, the April 12^th low crossing at 3.9950 is the next downside target. Closes above the 20-day moving average crossing at 4.3818 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 4.3818. Second resistance is the 50-day moving average crossing at 4.4849. First support is last-Monday's low crossing at 4.0880. Second support is the April 12^th low crossing at 3.9950.  

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

December corn was lower overnight as it consolidated some of Monday's rally. The low-range close sets the stage for a steady to lower opening when the day sessions 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, May's low crossing at $5.00 1/4 is the next downside target. Closes above the 20-day moving average crossing at $5.69 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $5.44 3/4. Second resistance is the 50-day moving average crossing at $6.64 1/2. First support is last-Thursday's low crossing at $5.14 1/4. Second support is May's low crossing at $5.00 1/4.        

September wheat was lower overnight. The low-range close sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are oversold but remain neutral signaling that sideways to lower prices are possible near-term. If September extends this month's decline, the 87% retracement level of the March-April-rally crossing at $6.16 1/2. Closes above the 20-day moving average crossing at $6.70 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at $6.70. Second resistance is the 50-day moving average crossing at $6.91 1/2. First support is the 75% retracement level of the March-April-rally crossing at $6.37 1/4. Second support is the 87% retracement level of the March-April-rally crossing at $6.16 1/2.

September Kansas City wheat was higher overnight as it extends the rally off June's low. The mid-range close 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. Closes above the 20-day moving average crossing at $6.26 3/4 would signal that a short-term low has been posted. If September renews the decline off June's high, March's low crossing at $5.59 1/2 is the next downside target. First resistance is the 20-day moving average crossing at $6.26 3/4. Second resistance is the 50-day moving average crossing at $6.54. First support is the 87% retracement level of the March-April-rally crossing at $5.89 1/4. Second support is March's low crossing at $5.66 1/4.

September Minneapolis wheat gapped up and was higher overnight as it rallied to a new contract 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off June's low, the July-2017 high on the monthly continuation chart crossing at $8.68 1/2 is the next upside target. Closes below the 50-day moving average crossing at $7.57 1/2 would signal that a short-term top has been posted. First resistance is the overnight high crossing at $8.57. Second resistance is the July-2017 high on the monthly continuation chart crossing at $8.68 1/2. First support is the 20-day moving average crossing at $7.85 3/4. Second support is the 50-day moving average crossing at $7.57 1/2.  

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

November soybeans were higher overnight as it extends the trading range of the past eight-days. The mid-range close sets the stage for a steady to higher 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. Closes above the 20-day moving average crossing at $13.63 3/4 would signal that a short-term low has been posted. If November renews the decline off June's high, the 38% retracement level of the 2020-2021-rally crossing at $12.30 is the next downside target. First resistance is last-Tuesday's high crossing at $13.29. Second resistance is the 20-day moving average crossing at $13.63 3/4. First support is June's low crossing at $12.40 1/2. Second support is the 38% retracement level of the 2020-2021-rally crossing at $12.30.

December soybean meal was lower overnight. The low-range close 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 sideways to lower prices are possible near-term. If December extends the decline off May's high, the 62% retracement level of the 2020-2021-rally crossing at $3.42 1/2 is the next downside target. Closes above the 20-day moving average crossing at $378.20 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $365.20. Second resistance is the 20-day moving average crossing at $378.20. First support is the 62% retracement level of the 2020-2021-rally crossing at $342.10. Second support is the 75% retracement level of the 2020-2021-rally crossing at $324.10. 

December soybean oil was higher overnight as it extends the rally off June'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 bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 61.04 would signal that a short-term low has been posted. If December renews the decline off June's high, the 50% retracement level of the 2020-2021-rally crossing at 47.49 is the next downside target. First resistance is the 20-day moving average crossing at 61.04. Second resistance is June's high crossing at 67.04. First support is the 38% retracement level of the 2020-2021-rally crossing at 52.08. Second support is the 50% retracement level of the 2020-2021-rally crossing at 47.44.    

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

August hogs closed up $3.00 at $102.78. 

August hogs gapped closed limit up on Monday as it consolidated some of the decline off June's high. 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 oversold but remain neutral to bearish signaling that additional weakness is possible. If August extends the decline off June's high, the 50% retracement level of the 2020-2021-rally crossing at $95.71 is the next downside target. Closes above the 10-day moving average crossing at $104.96 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $104.96. Second resistance is the 50-day moving average crossing at $108.57. First support is last-Friday's low crossing at $96.50. Second support is the 50% retracement level of the 2020-2021-rally crossing at $95.71.  

August cattle closed down $1.20 at $121.60. 

August cattle closed lower on Monday. 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. Closes below the 50-day moving average crossing at $119.57 would signal that a top has been posted. If August renews this month's rally, the February-2021 high on the weekly continuation chart crossing at $126.70 is the next upside target. First resistance is June's high crossing at $125.78. Second resistance is the February-2021 high on the weekly continuation chart crossing at $126.70. First support is the 20-day moving average crossing at $120.58. Second support is the 50-day moving average crossing at $119.57. 

August Feeder cattle closed down $3.20 at $156.35. 

August Feeder cattle closed sharply lower on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday's session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If August renews this month's rally, April's high crossing at $162.40. Closes below the June 14^th gap crossing at $151.90 would signal that a short-term top has been posted. First resistance is June's high crossing at $160.15. Second resistance is April's high crossing at $162.40. First support is the June 14^th gap crossing at $151.90. Second support is the June 10th low crossing at $146.75. 

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

September coffee closed sharply higher on Monday as it extends the rally off last-Monday's low. 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. If September extends the rally off last-Monday's low, June's high crossing at 16.87 is the next upside target. Closes below the 50-day moving average crossing at 15.20 would signal that a short-term top has been posted.              

September cocoa closed slightly 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 24.09 would signal that a short-term low has been posted. If September extends the decline off May's high, last-November's low crossing at 22.54 is the next downside target.                   

October sugar closed higher on Monday as it extends the rally off last-Monday's low. 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. Today's close above the 20-day moving average crossing at 17.36 signals that a short-term low has been posted. Closes below last-Monday's low would renew the decline off June's high and open the door for a possible test of April's low crossing at 14.68 later this summer.      

December cotton closed higher on Monday. The mid-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. If December renews the rally off May's low, February's high crossing at 89.28 is the next upside target. Closes below the June 17^th low crossing at 83.37 would signal that a short-term top has been posted.