KEY EVENTS TO WATCH FOR:

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 Thursday as it has come under pressure following the July meeting minutes from the Federal Reserve. The minutes indicated central bankers were moving forward with their debate over the timing and scope of the reduction of the asset purchase program. The mid-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at 34,711.27 would confirm that a short-term top has been posted. If the Dow renews 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 50-day moving average crossing at 34,711.27. Second support is July's low crossing at 33,741.76.  

The September NASDAQ 100 closed higher on Thursday as it consolidated some of the decline off August's high.The high-range close sets the stage for a steady to higher opening when Friday'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 50-day moving average crossing at 14,708.84 would confirm that a short-term top has been posted. If September resumes this year's rally into uncharted territory, upside targets will be hard to project. First resistance is the August 5^th high crossing at 15,172.50. Second resistance is unknown. First support is the 50-day moving average crossing at 14,689.70. Second support is the July low crossing at 14,445.00.

The September S&P 500 closed slightly higher on Thursday. The high-range close sets the stage for a steady to higher opening when Friday'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 50-day moving average crossing at 4340.24 would signal a short-term trend change while opening the door for a possible test of July's low crossing at 4224.00. If September renews 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 50-day moving average crossing at 4340.24. Second support is July's low crossing at 4224.00.  

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

September T-bonds closed up 26/32's pts. at 165-28. 

September T-bonds closed higher on Thursday as it extends the rally off August's low. The high-range close sets the stage for a steady to higher opening when Friday'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 August'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 162-21 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 162-21. Second support is the July 13^th low crossing at 161-06.  

September T-notes closed up 60-pts at 134.105.

September T-notes closed higher on Thursday. The mid-range close sets the stage for a steady to higher opening when Friday'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 133.149 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 133.149. 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 Thursday as it extended the decline off the late-July high. The mid-range close sets the stage for a steady to lower opening when Friday'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, May's low crossing at $60.68 is the next downside target. Closes above the 50-day moving average crossing at $70.07 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $67.08. Second resistance is the 20-day moving average crossing at $68.99. 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 Thursday as it extended the decline off the late-July high. The low-range close sets the stage for a steady to lower opening when Friday'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, the April 26^th low crossing at $184.90 is the next downside target. Closes above the 50-day moving average crossing at $211.49 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $206.04. Second resistance is the 50-day moving average crossing at $211.49. First support is today's low crossing at $194.65. Second support is the April 26^th low crossing at $184.90.     

October unleaded gas closed lower on Thursday as it extended the decline off August's high. The mid-range close sets the stage for a steady to lower opening when Friday'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 25% retracement level of the 2020-2021-rally crossing at 1.8585 is the next downside target. Closes above the 20-day moving average crossing at $2.1115 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 $1.9252. Second support is the 25% retracement level of the 2020-2021-rally crossing at 1.8585.    

October Henry natural gas closed slightly higher on Thursday as it consolidated some of the decline off August's high. The high-range close sets the stage for a steady to higher opening when Friday'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 3.724 is the next downside target. Closes above the 20-day moving average crossing at 4.003 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 3.751. Second support is the 50-day moving average crossing at 3.724.  

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

The September Dollar closed higher on Thursday as it extended the rally off May's low. The high-range close sets the stage for a steady to higher opening when Friday'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, the 87% retracement level of the 2020-2021-decline crossing at 93.87 is the next upside target. First resistance is today's high crossing at 93.60. Second resistance is the 87% retracement level of the 2020-2021-decline crossing at 93.87. First support is the 20-day moving average crossing at 92.64. Second support is the 50-day moving average crossing at 92.33. 

The September Euro close lower on Thursday as it extends the decline off May's high. The low-range close sets the stage for a steady to lower opening when Friday'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 117.96 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 117.96. Second resistance is the 50-day moving average crossing at 118.66. First support is today's low crossing at 116.71. Second support is the 50% retracement level of the 2020-2021-rally crossing at 116.07.

The September British Pound closed sharply lower on Thursday as it extended the decline off July's high. The low-range close sets the stage for a lower opening when Friday'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 1.3862 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 today's low crossing at 1.3637. Second support is the 25% retracement level of the 2020-2021-rally crossing at 1.3578.  

The September Swiss Franc closed lower on Thursday.The low-range close sets the stage for a steady to lower opening when Friday'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 extends the decline off August's high, July's low crossing at 1.0801 is the next downside target. Closes above the 20-day moving average crossing at 1.0954 would signal that a short-term low has been posted. 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 sharply lower on Thursday and has renewed the decline off the late-July's high. The low-range close sets the stage for a steady to lower opening when Friday'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 38% retracement level of the 2020-2021-rally crossing at 77.74 is the next downside target. Closes above the 20-day moving average crossing at 79.64 signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 79.64. Second resistance is the 50-day moving average crossing at 80.20. First support is today's low crossing at 77.93. Second support is the 38% retracement level of the 2020-2021-rally crossing at 77.74.

The September Japanese Yen closed slightly higher on Thursday. The mid-range close sets the stage for a steady to higher opening when Friday’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 extends this week's decline, August's low crossing at 0.090270 is the next downside target. Closes above Monday's high crossing at 0.091665 would renew the rally off August's low. 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 lower on Thursday as it consolidated some of the rally off August's low.The low-range close sets the stage for a steady to lower opening when Friday'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 $1801.90 are needed to confirm that a short-term low has been posted. Closes below the 10-day moving average crossing at $1764.60 would temper the near-term friendly outlook. First resistance is the 50-day moving average crossing at $1801.90. Second resistance is August's high crossing at $1835.90. First support is August's low crossing at $1677.90. Second support is weekly support crossing at $1667.00.  

September silver closed lower on Thursday. The low-range close sets the stage for a steady to lower opening when Friday'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 May's high, the 50% retracement level of the 2020-rally crossing at 21.344 is the next downside target. Closes above the 20-day moving average crossing at 24.437 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 24.437. Second resistance is the 50-day moving average crossing at 25.559. First support is August's low crossing at 22.295. Second support is the 50% retracement level of the 2020-rally crossing at 21.344.   

September copper closed lower for the third day in a row on Thursday as it extends the decline off August's high. The mid-range close sets the stage for a steady to lower opening when Friday'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. If September extends the decline off July's high, the 38% retracement level of the 2020-2021-rally crossing at 381.46 is the next downside target. Closes above the 20-day moving average crossing at 436.62 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 436.63. Second resistance is July's high crossing at 462.75. First support is today's low crossing at 396.15. 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 $0.14 1/4-cents at $5.50 3/4. 

December corn closed lower on Thursday and below the 20-day moving average crossing at $5.55 3/4 confirming that a short-term top has been posted. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends this week's decline, the July 26th low crossing at $5.32 1/4 is the next downside target. 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 $0.09 3/4-cents at $7.27 1/2.  

September wheat closed lower on Thursday as it extended this week's decline. The mid-range close sets the stage for a steady to lower opening when Friday'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 $7.18 3/4 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 August'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 $7.18 3/4. Second support is the 50-day moving average crossing at $6.84 1/4.

September Kansas City Wheat closed down $0.08 1/4-cents at $7.15 1/2.

September Kansas City wheat posted an inside day with a lower close on Thursday. The mid-range close sets the stage for a steady to lower opening when Friday'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 $6.96 1/2 would signal that a short-term top has been posted. If September renews 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 $6.96 1/2. Second support is the 50-day moving average crossing at $6.53 1/2.  

September Minneapolis wheat closed down $0.06-cents at $9.17. 

September Minneapolis wheat closed lower on Thursday as it extended this week's decline. The mid-range close sets the stage for a steady to lower opening when Friday'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 $9.12 1/2 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 last-Friday'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 $8.60.

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

November soybeans closed down $0.33 1/4-cents at $13.20.

November soybeans closed sharply lower on Thursday as it extends this week's decline.The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI have turned 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. Closes above Tuesday's high crossing at $13.79 3/4 would signal that a short-term low has been posted. 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 $6.70 at $353.60. 

December soybean meal closed lower on Thursday. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI have turned 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 $365.30 would signal that a double bottom with June's low has been posted. First resistance is the 50-day moving average crossing at $365.30. 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 156-pts. at 59.92. 

December soybean oil closed lower on Thursday as it extended this week's decline. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are 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. Closes above Monday's high crossing at 64.00 are needed to confirm that a short-term low has been posted. 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 down $2.18 at $86.93. 

October hogs closed lower on Thursday. The low-range close sets the stage for a steady to lower opening when Friday'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 $88.53 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 down $0.90 at $128.15. 

October cattle closed lower on Thursday. The low-range close sets the stage for a steady to lower opening on Friday. 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 $127.43 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 down $0.45 at $162.90. 

September feeder cattle closed lower on Thursday. The high-range close sets the stage for a steady to higher opening when Friday'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 $160.50 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 $160.50. Second support is the July 19^th low crossing at $156.58.   

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

September coffee closed lower on Thursday as it extended the decline off last-Friday's high. The high-range close sets the stage for a steady to slightly lower opening on Friday. 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 $168.20 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 Thursday as it extends the rally off July's low. The high-range close sets the stage for a steady to higher opening on Friday. 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 24.60 would signal that a short-term top has been posted.                         

October sugar closed sharply lower due to profit taking on Thursday as it consolidates some of the rally off July's low. The low-range close sets the stage for a steady to lower opening on Friday. 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 18.90 would signal that a short-term top has been posted.        

December cotton closed sharply lower on Thursday as it consolidates some of the rally off March's low. The low-range close sets the stage for a steady to lower opening on Friday. 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 91.54 would signal that a short-term top has been posted. If December resumes the rally off May's low, weekly resistance on the continuation chart crossing at 97.35 is the next upside target.