KEY EVENTS TO WATCH FOR:

Thursday, August 19, 2021 

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

                       Business Activity (previous 21.9)

                       Prices Paid (previous 69.7)

                       Employment (previous 29.2)

                       New Orders (previous 17.0)

                       Prices Received (previous 46.8)

                       Delivery Times (previous 33.3)

                       Inventories (previous -4.0)

                       Shipments (previous 24.6)

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

                       Jobless Claims (previous 375K)

                       Jobless Claims, Net Chg (previous -12K)

                       Continuing Claims (previous 2866000)

                       Continuing Claims, Net Chg (previous -114K)

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

                       Corn (Metric Tons) (previous 979.4K)

                       Soybeans (Metric Tons) (previous 1217.2K)

                       Wheat (Metric Tons) (previous 293.1K)

9:45 AM ET. Bloomberg Consumer Comfort Index

10:00 AM ET. July Leading Indicators

                       Leading Index, M/M% (previous +0.7%)

                       Leading Index (previous 115.1)

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

                       Lagging Index, M/M% (previous +0%)

10:00 AM ET. 2^nd Quarter Quarterly Retail E-Commerce Sales

10:00 AM ET. 2^nd Quarter Advance Quarterly Services

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

                       Working Gas In Storage (Cbf) (previous 2776B)

                       Working Gas In Storage, Net Chg (Cbf) (previous +49B)

4:30 PM ET. Federal Discount Window Borrowings

4:30 PM ET. Foreign Central Bank Holdings

Friday, August 20, 2021 

10:00 AM ET. July State Employment and Unemployment

N/A               U.S: Hawaii Statehood Day

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

The Dow closed lower on Wednesday as it consolidates some of the rally off June's low.The mid-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 bearish signaling that a short-term top might be in or is near. Closes below the 50-day moving average crossing at 34,709.94 would confirm that a short-term top has been posted. If the Dow extends this year's rally into uncharted territory, upside targets will be hard to project. First resistance is Monday's high crossing at 35,631.57. Second resistance is unknown. First support is the 20-day moving average crossing at 35,156.17. Second support is the 50-day moving average crossing at 34,709.94.  

The September NASDAQ 100 closed lower on Wednesday as it extends the trading range of the past four-weeks.The mid-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. If September resumes this year's rally into uncharted territory, upside targets will be hard to project. Closes below the July 27^th low crossing at 14,774.25 would confirm that a short-term top has been posted. First resistance is the August 5^th high crossing at 15,172.50. Second resistance is unknown. First support is the July 27^th low crossing at 14,744.25. Second support is the 50-day moving average crossing at 14,689.70. 

The September S&P 500 closed lower on Wednesday as it consolidated some of this year's rally. 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 bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 4418.34 would confirm that a short-term top has been posted while opening the door for a possible test of the 50-day moving average crossing at 4337.29. If September extends this year's rally into uncharted territory, upside targets will be hard to project. First resistance is Monday's high crossing at 4462.00. Second resistance is unknown. First support is the 20-day moving average crossing at 4418.34. Second support is the 50-day moving average crossing at 4337.29.  

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

September T-bonds closed down 2/32's pts. at 165-02. 

September T-bonds closed slightly lower on Wednesday. The high-range close sets the stage for a steady to higher opening when Thursday'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 last-Wednesday's low, August's high crossing at 167-00 is the next upside target. If September renewed the decline off August's high, the 50-day moving average crossing at 162-17 is the next downside target. First resistance is the 75% retracement level of the 2020-2021-decline crossing at 167-00. Second resistance is the 87% retracement level of the 2020-2021-decline crossing at 169-10. First support is the 50-day moving average crossing at 162-17. Second support is the July 13^th low crossing at 161-06.  

September T-notes closed down 25-pts at 134.060.

September T-notes closed lower on Wednesday as it consolidated some of the rally off last-Wednesday's low. The high-range close sets the stage for a steady to slightly lower opening when Thursday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling sideways to higher prices are possible near-term. If September extends the rally off last-Wednesday's low, August's high crossing at 135.140 is the next upside target. Closes below the 50-day moving average crossing at 133.140 would open the door for additional weakness near-term. First resistance is the 75% retracement level of the 2020-2021-decline crossing at 135.121. Second resistance is the 87% retracement level of the 2020-2021-decline crossing at 136.087. First support is the 50-day moving average crossing at 133.140. Second support is the July 14^th low crossing at 132.300.  

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

October crude oil closed lower on Wednesday as it extended the decline off the late-July high. The low-range close sets the stage for a steady to lower opening when Thursday's night session begins. Stochastics and the RSI are oversold but remain neutral to bullish signaling that sideways to lower prices are possible near-term. If October extends the decline off the July 30^th high, the 25% retracement level of the 2020-2021-rally crossing at $63.90 is the next downside target. Closes above the 50-day moving average crossing at $70.16 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at $70.16. Second resistance is the July 30^th high crossing at $73.52. First support is the 25% retracement level of the 2020-2021-rally crossing at $63.90. Second support is the May low crossing at $60.68.

October heating oil closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening when Thursday's night trading session begins. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If October renews the decline off the late-July high, July's low crossing at $196.42 is the next downside target. Closes above the 50-day moving average crossing at $211.80 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at $211.80. Second resistance is July's high crossing at $220.48. First support is last-Monday's low crossing at $200.97. Second support is July's low crossing at $196.42.     

October unleaded gas closed lower on Wednesday as it extended the decline off August's high. 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If October extends the decline off August's high, July's low crossing at 1.9312 is the next downside target. Closes above the 20-day moving average crossing at $2.1187 would confirm that a short-term low has been posted. First resistance is last-Thursday's high crossing at 2.1565. Second resistance is July's high crossing at $2.2049. First support is today's low crossing at $2.0077. Second support is July's low crossing at $1.9312.    

September Henry natural gas closed unchanged on Wednesday as it consolidated some of the decline off August's high. The mid-range close sets the stage for a steady to lower opening when Thursday'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 October extends the decline off August's high, the 50-day moving average crossing at 3.709 is the next downside target. Closes above the 20-day moving average crossing at 4.007 would signal that a short-term low has been posted. First resistance is August's high crossing at 4.205. Second resistance is the November-2014 high on the monthly continuation chart crossing at 4.544. First support is today's low crossing at 3.801. Second support is the 50-day moving average crossing at 3.709.  

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

The September Dollar closed lower on Wednesday. The mid-range close sets the stage for a steady to lower opening when Thursday'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 May's low, March's high crossing at 93.43 is the next upside target. First resistance is today's high crossing at 93.28. Second resistance is March's high crossing at 93.43. First support is the 50-day moving average crossing at 92.26. Second support is July's low crossing at 91.78. 

The September Euro close slightly higher on Wednesday. The mid-range close sets the stage for a steady to higher opening when Thursday'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 May's high, the 50% retracement level of the 2020-2021-rally crossing at 116.07 is the next downside target. Closes above the 20-day moving average crossing at 118.01 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 118.01. Second resistance is the 50-day moving average crossing at 118.77. First support is today's low crossing at 116.99. Second support is the 50% retracement level of the 2020-2021-rally crossing at 116.07.

The September British Pound posted an inside day with a higher close on Thursday as it consolidated some of the decline off July's high. The mid-range close sets the stage for a steady to higher opening when Thursday'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 July's high, the 25% retracement level of the 2020-2021-rally crossing at 1.3578 is the next downside target. Closes above the 50-day moving average crossing at 1.3872 are needed to confirm that a short-term low has been posted. First resistance is the July 30^th high crossing at 1.3985. Second resistance is the June 16^th high crossing at 1.4135. First support is Tuesday's low crossing at 1.3791. Second support is the 25% retracement level of the 2020-2021-rally crossing at 1.3578.  

The September Swiss Franc closed lower on Wednesday as it consolidated some of the rally off last-Wednesday'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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 1.0954 would signal that a short-term low has been posted. If September extends the decline off August's high, July's low crossing at 1.0801 is the next downside target. First resistance is the 20-day moving average crossing at 1.0954. Second resistance is August's high crossing at 1.1100. First support is last-Wednesday's low crossing at 1.0828. Second support is July's low crossing at 1.0801.

The September Canadian Dollar closed lower on Wednesday as it extends the decline off the late-July's high. 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends the decline off July's high, the July 23^rd low crossing at 79.32 is the next downside target. If September renews the rally off July's low, the 50-day moving average crossing at 80.29 is the next upside target. First resistance is the 50-day moving average crossing at 80.29. Second resistance is the July 30^th high crossing at 80.50. First support is today's low crossing at 79.03. Second support is July's low crossing at 78.08. 

The September Japanese Yen closed lower on Wednesday. The mid-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 bearish signaling that sideways to lower prices are possible near-term. If September renews the decline off August's high, July's low crossing at 0.090605 is the next downside target. If September renews the rally off last-Wednesday's low, August's high crossing at 0.092000 is the next upside target. First resistance is August's high crossing at 0.092000. Second resistance is May's high crossing at 0.092295. First support is last-Wednesday's low crossing at 0.090270. Second support is July's low crossing at 0.089605.  

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

December gold closed steady on Wednesday as it consolidated some of the rally off August's low.The mid-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at $1790.50 are needed to confirm that a short-term low has been posted. If December renews the decline off July's high, weekly support crossing at $1667.00 is the next downside target. First resistance is the 20-day moving average crossing at $1790.50. Second resistance is the 50-day moving average crossing at $1804.40. First support is last-Monday's low crossing at $1677.90. Second support is weekly support crossing at $1667.00.  

September silver 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 neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 24.548 would signal that a short-term low has been posted. If September resumes the decline off May's high, the 50% retracement level of the 2020-rally crossing at 21.344 is the next downside target. First resistance is the 20-day moving average crossing at 24.548. Second resistance is the 50-day moving average crossing at 25.657. First support is last-Monday's low crossing at 22.295. Second support is the 50% retracement level of the 2020-rally crossing at 21.344.   

September copper closed sharply lower on Wednesday as it extends the decline off August's high. 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 oversold but remain neutral to lower prices are possible signaling that sideways to lower prices are possible near-term. Closes above the 20-day moving average crossing at 438.42 would signal that a short-term low has been posted. If September renews the decline off July's high, the 38% retracement level of the 2020-2021-rally crossing at 381.46 is the next downside target. First resistance is the 20-day moving average crossing at 438.08. Second resistance is July's high crossing at 462.75. First support is today's low crossing at 409.85. Second support is the 38% retracement level of the 2020-2021-rally crossing at 381.46.

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

December Corn closed up $0.01 1/4-cents at $5.65. 

December corn closed higher on Thursday. The mid-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at $5.56 would confirm that a short-term top has been posted. If December renews the  rally off July's low, July's high crossing at $6.11 1/4 is the next upside target. First resistance is July's high crossing at $6.11 1/4. Second resistance is June's high crossing at $6.28 1/4 is the next upside target. First support is the July 26th low crossing at $5.32 1/4. Second support is July's low crossing at $5.07.    

September wheat closed up $0.02 3/4-cents at $7.37 1/4.  

September wheat closed higher on Wednesday as it consolidated some of this week's decline. The high-range close sets the stage for a steady to higher opening when Thursday'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 $7.17 would signal that a short-term top has been posted.If September renews the rally off July's low, the 50% retracement level of the 2008-2019-decline on continuation chart crossing at $8.59 is the next upside target. First resistance is last-Friday's high crossing at $7.74 3/4. Second resistance is the 50% retracement level of the 2008-2019-decline on continuation chart crossing at $8.59. First support is the 20-day moving average crossing at $7.17. Second support is the 50-day moving average crossing at $6.83 1/2.

September Kansas City Wheat closed up $0.07-cents at $7.23 3/4.

September Kansas City wheat closed higher on Wednesday as it consolidated some of this week's decline. The high-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at $6.93 1/2 would signal that a short-term top has been posted. If September extends the rally off July's low, resistance on the monthly continuation chart crossing at $7.64 1/4 is the next upside target. First resistance is last-Friday's high crossing at $7.56 1/4. Second resistance on the monthly continuation chart crosses at $7.64 1/4. First support is the 20-day moving average crossing at $6.93 1/2. Second support is the 50-day moving average crossing at $6.52.  

September Minneapolis wheat closed up $0.02-cents at $9.23. 

September Minneapolis wheat closed higher on Wednesday as it consolidated some of this week's decline. The mid-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at $9.11 3/4 would confirm that a short-term top has been posted. If September resumes 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. First resistance is today's high crossing at $9.53. Second resistance is the September-2012 high on the monthly continuation chart crossing at $9.83 1/4. First support is the July 26^th low crossing at $8.70. Second support is the 50-day moving average crossing at $8.57. 

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

November soybeans closed down $0.08 1/4-cents at $13.53 1/4.

November soybeans 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 bearish signaling that sideways to lower prices are possible near-term. If November renews the decline off the July 19th high, July's low crossing at $13.00 1/2 is the next downside target. If November renews the rally off August's low, the July 19^th high crossing at $14.18 is the next upside target. First resistance is the July 19^th high crossing at $14.18. Second resistance is July's high crossing at $14.23. First support is the July's low crossing at $13.00 1/2. Second support is the June 25^th low crossing at $12.59 3/4.

December soybean meal closed down $2.60 at $360.30. 

December soybean meal 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 bearish signaling that sideways to lower prices are possible near-term. If December resumes the decline off July's high, June's low crossing at $347.00 is the next downside target. Closes above the 50-day moving average crossing at $366.10 would signal that a double bottom with June's low has been posted. First resistance is the 50-day moving average crossing at $366.10. Second resistance is the July 21^st high crossing at $375.70. First support is August's low crossing at $348.60. Second support is June's low crossing at $347.00.       

December soybean oil closed down 64-pts. at 61.48. 

December soybean oil closed lower on Wednesday as it extended this week's decline. 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 bearish signaling that sideways to lower prices are possible near-term. If December renews the decline off July's high, July's low crossing at 58.67 is the next downside target. First resistance is the July 29^th high crossing at 66.55. Second resistance is July's high crossing at 66.34. First support is July's low crossing at 58.67. Second support is the June 25^th low crossing at $57.39. 

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

October hogs closed up $1.13 at $89.03. 

October hogs closed higher on Wednesday. The high-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Multiple closes above the 20-day moving average crossing at $88.77 would confirm that a short-term low has been posted. If October resumes the decline off July's high, June's low crossing at $80.90 is the next downside target. First resistance is August's high crossing at $91.73. Second resistance is July's high crossing at $94.05. First support is last-Tuesday's low crossing at $83.32. Second support is June's low crossing at $80.90. 

October cattle closed up $0.85 at $128.98. 

October cattle closed higher on Wednesday. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If October renews the rally off the July 19^th low, June's high crossing at $130.48 is the next upside target. Closes below the 50-day moving average crossing at $127.35 would signal that a short-term top has been posted. First resistance is July's high crossing at $129.93. Second resistance is June's high crossing at $130.48. First support is the August 6^th low crossing at $125.82. Second support is the July 19^th low crossing at $124.05.  

September Feeder cattle closed up $2.43 at $163.35. 

September feeder cattle closed higher on Wednesday. The high-range close sets the stage for a steady to higher opening when Thursday's session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If September renewed the rally off May's low, the 50% retracement level of the 2014-2020-decline on the monthly continuation chart crossing at $174.84 is the next upside target. If September renewed the decline off last-Thursday's high, the 50-day moving average crossing at $160.25 is the next downside target. First resistance is July's high crossing at $165.53. Second resistance is the 50% retracement level of the 2014-2020-decline on the monthly continuation chart crossing at $174.84. First support is the 50-day moving average crossing at $160.25. Second support is the July 19^th low crossing at $156.58.   

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

September coffee closed higher on Wednesday as it extended the rally off July's low. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are oversold but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If September renews the decline off July's high, the 50-day moving average crossing at $167.90 is the next downside target. Closes above last-Friday's high crossing at $187.35 would signal that a short-term low has been posted.

September cocoa closed higher on Wednesday as it extends the rally off July'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 September extends the rally off July's low, March's high crossing at 26.54 is the next upside target. Closes below the 20-day moving average crossing at 24.43 would signal that a short-term top has been posted.                         

October sugar closed higher on Wednesday as it extended the rally off July'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 October extends the rally off July's low, the February-2017 high on the monthly continuation chart crossing at 21.49 is the next upside target. Closes below the 20-day moving average crossing at 18.79 would signal that a short-term top has been posted.        

December cotton closed slightly lower on Wednesday. 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 December extends the rally off May's low, weekly resistance on the continuation chart crossing at 97.35 is the next upside target. Closes below the 20-day moving average crossing at 91.39 would signal that a short-term top has been posted.