KEY EVENTS TO WATCH FOR:

Monday, July 19, 2021 

10:00 AM ET. July NAHB Housing Market Index

                       Housing Mkt Idx (previous 81)

Tuesday, July 20, 2021 

7:45 AM ET. Weekly Chain Store Sales Index

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

                       Total Starts (previous 1.572M)

                       Housing Starts, M/M% (previous +3.6%)

                       Building Permits (previous 1.681M)

                       Building Permits, M/M% (previous -3.0%)

8:55 PM ET. Johnson Redbook Retail Sales Index

                       Ret Sales Mo-to-Date, M/M%

                       Ret Sales Mo-to-Date, Y/Y% (previous +11.1%)

                       Latest Wk, Y/Y% (previous +14.0%)

4:30 PM ET. API Weekly Statistical Bulletin

                       Crude Stocks, Net Chg (Bbls) (previous -4.1M)

                       Gasoline Stocks, Net Chg (Bbls) (previous -1.5M)

                       Distillate Stocks, Net Chg (Bbls) (previous +3.7M)

Wednesday, July 21, 2021 

7:00 AM ET. MBA Weekly Mortgage Applications Survey

                       Composite Idx (previous 727.5)

                       Composite Idx, W/W% (previous +16.0%)

                       Purchase Idx-SA (previous 273.3)

                       Purchase Idx-SA, W/W% (previous +8.3%)

                       Refinance Idx (previous 3361.5)

                       Refinance Idx, W/W% (previous +20.4%)

10:30 AM ET. EIA Weekly Petroleum Status Report

                       Crude Oil Stocks (Bbl) (previous 437.6M)

                       Crude Oil Stocks, Net Chg (Bbl) (previous -7.9M)

                       Gasoline Stocks (Bbl) (previous 236.5M)

                       Gasoline Stocks, Net Chg (Bbl) (previous +1.0M)

                       Distillate Stocks (Bbl) (previous 142.3M)

                       Distillate Stocks, Net Chg (Bbl) (previous +3.7M)

                       Refinery Usage

                       Total Prod Supplied (Bbl/day)

                       Total Prod Supplied, Net Chg (Bbl/day)

  N/A              IMF World Economic Outlook Update

Thursday, July 22, 2021 

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

                       Jobless Claims (previous 360K)

                       Jobless Claims, Net Chg (previous -26K)

                       Continuing Claims (previous 3241000)

                       Continuing Claims, Net Chg (previous -126K)

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

                       Corn (Metric Tons) (previous 272K)

                       Soybeans (Metric Tons) (previous 312.5K)

                       Wheat (Metric Tons) (previous 424.7K)

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

                       NAI (previous 0.29)

                       NAI, 3-mo Moving Avg (previous 0.81)

9:45 AM ET. Bloomberg Consumer Comfort Index

10:00 AM ET. June Existing Home Sales

                       Existing Sales (previous 5.8M)

                       Existing Sales, M/M% (previous -0.9%)

                       Unsold Homes Month's Supply (previous 2.5)

                       Median Price (USD) (previous 350300)

                       Median Home Price, Y/Y% (previous +23.6%)

10:00 AM ET. June Leading Indicators

                       Leading Index, M/M% (previous +1.3%)

                       Leading Index (previous 114.5)

                       Coincident Index, M/M% (previous +0.4%)

                       Lagging Index, M/M% (previous -2.2%)

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

                       Working Gas In Storage (Cbf) (previous 2629B)

                       Working Gas In Storage, Net Chg (Cbf) (previous +55B)

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

                       Mfg Activity Idx (previous 30)

                       6-Mo Exp Prod Idx (previous 44)

                       Mfg Composite Idx (previous 27)

                       6-Mo Exp Composite Idx (previous 32)

4:30 PM ET. Federal Discount Window Borrowings

4:30 PM ET. Foreign Central Bank Holdings

Friday, July 23, 2021 

9:45 AM ET. July US Flash Manufacturing PMI

                       PMI, Mfg (previous 62.6)

9:45 AM ET. July US Flash Services PMI

                       PMI, Services (previous 64.8)

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

The Dow closed sharply lower due to profit taking on Friday as American's are preparing for the highest inflation since 2008. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are overbought and are turning neutral to bearish signaling that a double top with May's high might be in or is near. Closes below the 50-day moving average crossing at 34,396.51 would signal that a short-term top has been posted. Closes above May's high crossing at 35,091.56 would renew the long-term rally into uncharted territory. First resistance is May's high crossing at 35,091.56. Second resistance is unknown. First support is the 50-day moving average crossing at 34,396.51. Second support is the June 18^th low crossing at 33,271.93. 

The September NASDAQ 100 closed lower on Friday due to profit taking as it consolidates some of the rally off March's low. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are 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 14,574.46 would signal that a short-term top has been posted. If September extends this year's rally into uncharted territory, upside targets will be hard to project. First resistance is Tuesday's high crossing at 14,996.00. Second resistance is unknown. First support is the 20-day moving average crossing at 14,574.46. Second support is the 50-day moving average crossing at 13,999.02. 

The September S&P 500 closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 4300.34 would confirm that a short-term top has been posted. If September extends this year's rally upside targets are hard to project. First resistance is Tuesday's high  crossing at 4384.50. Second resistance is unknown. First support is the 20-day moving average crossing at 4300.34. Second support is the 50-day moving average crossing at 4227.82.  

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

September T-bonds closed down 5/32's at 163-24. 

September T-bonds closed lower on Friday. The high-range close sets the stage for a steady to slightly lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If September renews the rally of May's low, the 75% retracement level of the 2020-2021-decline crossing at 167-00 is the next upside target. Closes below the 20-day moving average crossing at 161-11 would signal that a short-term top has been posted. First resistance is the 62% retracement level of the 2020-2021-decline crossing at 164-14. Second resistance is the 75% retracement level of the 2020-2021-decline crossing at 167-00. First support is the 20-day moving average crossing at 161-11. Second support is the 50-day moving average crossing at 158-17.  

September T-notes closed down 10-pts at 133.245.

September T-notes closed slightly lower on Friday. The high-range close sets the stage for a steady to slightly lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off April's low, the 62% retracement level of the 2020-2021-decline crossing at 134.125 is the next upside target. Closes below the 20-day moving average crossing at 132.264 would confirm that a short-term top has been posted. First resistance is last-Thursday's high crossing at 134.030. Second resistance is the 62% retracement level of the 2020-2021-decline crossing at 134.125. First support is the 20-day moving average crossing at 132.264. Second support is the 50-day moving average crossing at 132.088.  

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

August crude oil closed slightly lower on Friday. The high-range close sets the stage for a steady to slightly higher opening when Monday's night session begins. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If August extends the decline off last-Tuesday's high, the 50-day moving average crossing at $69.58 is the next downside target. If August renews this year's rally, the November-2014 high on the monthly continuation chart crossing at $80.98 is the next upside target. First resistance is July's high crossing at $76.98. Second resistance isthe November-2014 high on the monthly continuation chart crossing at $80.98.First support is the 50-day moving average crossing at $69.58. Second support is the June 17^th low crossing at $69.54.   

August heating oil closed lower on Friday. The mid-range close sets the stage for a steady to lower opening when Monday's night trading session begins. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the July 8th low crossing at $205.10 would signal that a short-term top has been posted. If July resumes the rally off March's low, the October-2018 high crossing at $228.75 is the next upside target. First resistance is July's high crossing at $221.01. Second resistance is the October-2018 high crossing at $228.75. First support is the July 8^th low crossing at $205.10. Second support is May's low crossing at $194.90.    

August unleaded gas closed lower on Friday. The mid-range close sets the stage for a steady to lower opening when Monday's night 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 $2.1862 would confirm that a short-term top has been posted while opening the door for additional weakness near-term. If August renews the rally off March'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 July's high crossing at $2.3302. 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 $2.1862. Second support is June's low crossing at 2.1044.  

August Henry natural gas closed higher on Friday as it extends the trading range of the past two-weeks. The high-range close sets the stage for a steady to higher opening when Monday's night 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 3.563 would confirm that a short-term top has been posted. If August renews the rally off May's low, the December-2016 on the monthly continuation chart crossing at 3.994 is the next upside target. First resistance is July's high crossing at 3.822. Second resistance is the December-2016 high on the monthly continuation chart crossing at 3.994. First support is the 20-day moving average crossing at 3.563. Second support is last-Wednesday's low crossing at 3.520.  

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

The September Dollar closed higher on Friday as it extends the trading range of the past two-weeks. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off May's low, the 87% retracement level of the March-May-decline crossing at 92.93 is the next upside target. Closes below the 20-day moving average crossing 92.27 would signal that a short-term top has been posted. First resistance is last-Wednesday's high crossing at 92.84. Second resistance is the 87% retracement level of the March-May-decline crossing at 92.93. First support is the 20-day moving average crossing 92.27. Second support is the June 23^rd low crossing at 91.51.  

The September Euro closed lower on Friday. The mid-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends the decline off May's high, March's low crossing at 117.47 is the next downside target. Closes above the 20-day moving average crossing at 118.82 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 118.82. Second resistance is the June 26^th high crossing at 119.95. First support is Thursday's low crossing at 117.85. Second support is March's low crossing at 117.47.

The September British Pound closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If September resumes the decline off June's high, April's low crossing at 1.3678 is the next downside target. Closes above Monday's high crossing at 1.3913 would signal that a short-term low has been posted. First resistance is Monday's high crossing at 1.3913. Second resistance is the 50-day moving average crossing at 1.4009. First support is July's low crossing at 1.3733. Second support is April's low crossing at 1.3678.

The September Swiss Franc closed lower on Friday as it extends the trading range of the past five-days.The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If September renews the decline off June's high, the 75% retracement level of the March-May-rally crossing at 1.0744 is the next downside target. If September renews the rally off July's low, the 50-day moving average crossing at 1.1038 is the next upside target. First resistance is Thursday's high crossing at 1.0984. Second resistance is the 50-day moving average crossing at 1.1038. First support is the 75% retracement level of the March-May-rally crossing at 1.0775. Second support is the 87% retracement level of the March-May-rally crossing at 1.0701.

The September Canadian Dollar closed lower on Friday as it extended the decline off June's high. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends the decline off June's high, April's low crossing at 79.06 is the next downside target. Closes above the 20-day moving average crossing at 80.45 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 80.45. Second resistance is the July 6^th high crossing at 81.28. First support is April's low crossing at 79.06. Second support is February's low crossing at 78.43.

The September Japanese Yen closed lower on Friday. The mid-range close sets the stage for a steady to lower opening when Monday’s night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 0.0091103 would confirm that a short-term low has been posted. If September renews 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 50-day moving average crossing at 0.091103. Second resistance is May's high crossing at 0.092295. First support is July's low crossing at 0.089605. Second support is weekly support crossing at 0.089205.

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

August gold closed lower on Friday as it consolidates some of the rally off June's low. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If August extends the aforementioned rally, the 50-day moving average crossing at $1838.70 is the next upside target. Closes below the 20-day moving average crossing at $1791.60 is the next downside target. First resistance is the 50-day moving average crossing at $1838.70. Second resistance is the June 11^th high crossing at $1906.20. First support is the 20-day moving average crossing at $1791.60. Second support is June's low crossing at $1750.10.  

December silver closed lower on Friday as it extends the trading range of the past three-weeks. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If December renews the decline off May's high, the April 13^th low crossing at 24.805 is the next downside target. If December renews the rally off June's low, the 50-day moving average crossing at 27.166 is the next upside target. First resistance is last-Tuesday's high crossing at 26.935. Second resistance is the 50-day moving average crossing at 27.166. First support is June's low crossing at 25.635. Second support is the April-13^th low crossing at 24.805.  

September copper closed lower on Friday as it extends the trading range of the past three-weeks.The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral signaling that sideways trading is possible near-term. If September renews the decline off May's high, the April 12^th low crossing at 400.00 is the next downside target. Closes above last-Tuesday's high crossing at 440.25 would signal that a short-term low has been posted. First resistance is last-Tuesday's high crossing at 440.25. Second resistance is the 50-day moving average crossing at 445.70. First support is June's low crossing at 409.40. Second support is the April 12^th low crossing at 400.00. 

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

December Corn closed down $0.04 1/4-cents at $5.52. 

December corn closed lower on Friday as it consolidates some of this week's rally. Today's low-range close sets the stage for a steady to lower opening when Monday's night sessions begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the aforementioned rally, the July 6th gap crossing at $5.73 1/2 is the next upside target. Closes above the July 6th gap crossing at $5.73 1/2 would open the door for a possible test of July's high crossing at $6.11 1/4. If December renews the decline off July's high, May's low crossing at $5.00 1/4 is the next downside target. First resistance the 50-day moving average crossing at $5.62 3/4. Second resistance is the July 6th gap crossing at $5.73 1/2. First support is last-Friday's low crossing at $5.07. Second support is May's low crossing at $5.00 1/4.   

September wheat closed up $0.20 1/2-cents at $6.92 1/2.  

September wheat closed sharply higher on Friday as it extended the rally off last-Friday's low.The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends the aforementioned rally, June's high crossing at $7.08 1/2 is the next upside target. Closes below the 10-day moving average crossing at $6.42 would signal that a short-term top has been posted.First resistance is today's high crossing at $6.96 1/4. Second resistance is May's high crossing at $7.67 1/2. First support is the 20-day moving average crossing at $6.50 1/2. Second support is the 10-day moving average crossing at $6.42 3/4.

September Kansas City Wheat closed up $0.11 1/4-cents at $6.51 1/2.

September Kansas City wheat closed higher on Friday as it extended the rally off last-Wednesday's low. The mid-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends this week's rally, July's high crossing at $6.69 is the next upside target. Closes below the 10-day moving average crossing at $6.11 1/2 would signal that a short-term top has been posted. First resistance is July's high crossing at $6.69. Second resistance is the 62% retracement level of the May-July-decline crossing at $6.81 1/2 is the next upside target. First support is the 10-day moving average crossing at $6.11 1/2. Second support is July's low crossing at $5.78 1/4.  

September Minneapolis wheat closed up $0.23 1/4-cents at $9.17 1/4. 

September Minneapolis wheat closed higher for the sixth-day in a row on Friday as it extends this year's rally. The high-range close sets the stage for a steady to higher opening when Monday'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 September extends the rally off June's low, the September-2011 high on the monthly continuation chart crossing at $9.83 1/2 is the next upside target. Closes below the 20-day moving average crossing at $8.26 1/4 would confirm that a short-term top has been posted. First resistance is today's high crossing at $9.25. Second resistance is the September-2012 high on the monthly continuation chart crossing at $9.83 1/4. First support is the 20-day moving average crossing at $8.26 1/4. Second support is the 50-day moving average crossing at $7.81 1/2. 

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

November soybeans closed up $0.11 3/4-cents at $13.91 3/4.

November soybeans closed higher on Friday as it extends the rally off June's low. The mid-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If November extends the rally off last-Tuesday's low, July's high crossing at $14.23 is the next upside target. Closes below the 20-day moving average crossing at $13.37 1/2 would signal that a short-term top has been posted. First resistance is July's high crossing at $14.23. Second resistance is June's high crossing at $14.80. First support is the 20-day moving average crossing at $13.37 1/2. Second support is June's low crossing at $12.40 1/2.

December soybean meal closed down $2.40 to $366.20. 

December soybean meal posted an inside day with a higher close on Friday. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off Tuesday's low, the 50-day moving average crossing at $384.20 is the next upside target. If December renews the decline off July's high, June's low crossing at $347.00 is the next downside target. First resistance is the 50-day moving average crossing at $384.20. Second resistance is July's high crossing at $392.70. First support is July's low crossing at $355.20. Second support is June's low crossing at $347.00.       

December soybean oil closed up 73-pts. at 65.22. 

December soybean oil closed higher on Friday as it extends this week's rally. The high-range close sets the stage for a steady to higher opening when Monday'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 December extends the rally off June's low, June's high crossing at 67.06 is the next upside target. Closes below the July 7^th low crossing at 58.03 would signal that a short-term top has been posted. First resistance is today's high crossing at 65.64. Second resistance is June's high crossing at 67.06. First support is the July 7^th low crossing at 58.03. is the June 25^th low crossing at 56.66.      

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

August hogs closed up $1.23 at $105.53. 

August hogs closed higher on Friday. The mid-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are oversold but remains neutral to bullish signaling that sideways to higher prices are possible near-term. If August extends the rally off June's low, the 50-day moving average crossing at $108.50 is the next upside target. If August renews the decline off June's high, the 50% retracement level of the 2020-2021-rally crossing at $95.71 is the next downside target. First resistance is Wednesday's high crossing at $106.80. Second resistance is the 50-day moving average crossing at $108.50. First support is June'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 $0.93 at $120.20. 

August cattle closed lower on Friday. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If August renews the decline off June's high, the June 8^th low crossing at $117.23 is the next downside target. Closes above Wednesday's high crossing at $122.60 would signal that a short-term low has been posted. First resistance is Wednesday's high crossing at $122.60. Second resistance is July's high crossing at $124.33. First support is the July 9^th low crossing at $118.85. Second support is the June 8^th low at $117.23. Third support is June's low crossing at $114.63. 

August Feeder cattle closed down $1.75 at $156.63. 

August feeder cattle closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday's session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If August extends this week's decline the 50-day moving average crossing at $153.88 is the next downside target. If August renews the rally off May's low, April's high crossing at $162.40 is the next upside target. First resistance is July's high crossing at $161.10. Second resistance is April's high crossing at $162.40. First support is the 50-day moving average crossing at $153.88. Second support is the June 14^th gap crossing at $151.90.  

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

September coffee closed higher on Friday as it extends the rally off July's low. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off July's low, July's high crossing at $164.65 is the next upside target. If September renews the decline off July's high, May's low crossing at 14.15 is the next downside target.                

September cocoa closed sharply lower on Friday. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term. Today's close below the 10-day moving average crossing at 23.47 signals that a short-term top has been posted and opens the door for a test of July's low crossing at 22.68. Multiple closes above the 50-day moving average crossing at 24.25 are needed to open the door for a possible test of June's low crossing at 25.05.                      

October sugar closed higher on Friday. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If October extends today's rally, July's high crossing at 18.49 is the next upside target. If October renews the decline off July's high, June's low crossing at 16.44 the next downside target.       

December cotton closed higher on Friday. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off May's low, weekly resistance on the continuation chart crossing at 91.66 is the next upside target. Closes below the 20-day moving average crossing at 87.23 would confirm that a short-term top has been posted.