KEY EVENTS TO WATCH FOR:

Thursday, August 26, 2021  

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

                       Annual Rate, Q/Q% (previous +6.5%)

                       Chain-Weighted Price Idx, Q/Q% (previous +6.0%)

                       Corporate Profits, Q/Q% (previous +7.0%)

                       PCE Price Idx, Q/Q% (previous +6.4%)

                       Purchase Price Idx, Q/Q% (previous +5.7%)

                       Real Final Sales, Q/Q% (previous +7.7%)

                       Core PCE Price Idx, Q/Q% (previous +6.1%)

                       Consumer Spending, Q/Q% (previous +11.8%)

8:30 AM ET. 2^nd Quarter Preliminary Corporate Profits

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

                       Jobless Claims (previous 348K)

                       Jobless Claims, Net Chg (previous -29K)

                       Continuing Claims (previous 2820000)

                       Continuing Claims, Net Chg (previous -79K)

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

                       Corn (Metric Tons) (previous 726.6K)

                       Soybeans (Metric Tons) (previous 2209.8K)

                       Wheat (Metric Tons) (previous 306.7K)

9:45 AM ET. Bloomberg Consumer Comfort Index

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

                       Working Gas In Storage (Cbf) (previous 2822B)

                       Working Gas In Storage, Net Chg (Cbf) (previous +46B)

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

                       Mfg Activity Idx (previous 41)

                       6-Mo Exp Prod Idx (previous 48)

                       Mfg Composite Idx (previous 30)

                       6-Mo Exp Composite Idx (previous 33)

4:30 PM ET. Foreign Central Bank Holdings

4:30 PM ET. Federal Discount Window Borrowings

Friday, August 27, 2021 

8:30 AM ET. July Personal Income & Outlays

                       Personal Income, M/M% (previous +0.1%)

                       Consumer Spending, M/M% (previous +1.0%)

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

                       PCE Price Idx, Y/Y% (previous +4.0%)

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

                       PCE Core Price Idx, Y/Y% (previous +3.5%)

8:30 AM ET. July Advance Economic Indicators Report

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

                       End-Mo Sentiment Idx (previous 81.2)

                       End-Mo Expectations Idx (previous 79.0)

                       12-Month Inflation Forecast (previous 4.7%)

                       5-Year Inflation Forecast (previous 2.8%)

                       End-Mo Current Idx (previous 84.5)

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

The Dow closed higher for the fifth-day in a row on Wednesday as it extends the rally off last-Thursday's low.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 the Dow extends the rally off last-Thursday's low, August's high crossing at 35,631.19 is the next upside target. Closes below the 50-day moving average crossing at 34,785.93 would confirm that a short-term top has been posted. First resistance is today's high crossing at 35,501.14. Second resistance is August's high crossing at 35,631.19. First support is the 50-day moving average crossing at 34,785.93. Second support is July's low crossing at 33,741.76.  

The September NASDAQ 100 closed higher for the fifth-day in a row on Wednesday as it extends the rally off last-Thursday'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 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 the 50-day moving average crossing at 14,810.31 would confirm that a short-term top has been posted. First resistance is today's high crossing at 15,397.00. Second resistance is unknown. First support is the 20-day moving average crossing at 15,087.12. Second support is last-Thursday's low crossing at 14,710.50.

The September S&P 500 closed higher on Wednesday as it extends this year's rally into uncharted territory. 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 becoming 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 the 50-day moving average crossing at 4359.29 would confirm that a short-term top has been posted. First resistance is today's high crossing at 4497.25. Second resistance is unknown. First support is the 50-day moving average crossing at 4359.29. Second support is July's low crossing at 4224.00.  

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

September T-bonds closed down 1-01/32's at 164-00. 

September T-bonds closed sharply 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 have turned neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends this week's decline, the 50-day moving average crossing at 163-05 is the next downside target. If September renews the rally off August's low, August's high crossing at 167-00 is the next upside 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 163-05. Second support is the August 11^th low crossing at 162-17.  

September T-notes closed down 125-pts at 133.190.

September T-notes closed sharply 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 sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at 133.182 would confirm that a short-term top has been posted while opening the door for additional weakness near-term. If September resumes the rally off August's low, August's high crossing at 135.140 is the next upside target. 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 August's low crossing at 133.095. 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 higher for the third-day in a row on Wednesday as it extended the rally off Monday's low.The high-range close sets the stage for a steady to higher opening when Thursday's night session begins. 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 $67.90 signaled that a short-term low has been posted. If October renews the decline off the July 30^th high, May's low crossing at $60.68 is the next downside target. First resistance is the 50-day moving average crossing at $69.79. Second resistance is the July 30^th high crossing at $73.52. First support is Monday's low crossing at $61.74. Second support is the May low crossing at $60.68.

October heating oil closed sharply higher for a third-day in a row on Wednesday as it extends the rally off last-Friday's low. Today's close above the 50-day moving average crossing at $210.66 confirms that a short-term low has been posted. The high-range close sets the stage for a steady to higher opening when Thursday's night trading session begins. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. If October extends this week's rally, the July 30^th high  crossing at $220.48 is the next upside target. Closes below the 10-day moving average crossing at $203.80 would signal that a short-term top has been posted. First resistance is today's high crossing at $212.14. Second resistance is the the July 30^th high  crossing at $220.48. First support is the 10-day moving average crossing at $203.81. Second support is last-Friday's low crossing at $189.71.      

October unleaded gas closed sharply higher for the third-day in a row on Wednesday as it extends the rally off Monday's low. Today's close above the 50-day moving average crossing at $2.0939 confirms that a short-term low has been posted. 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 October extends this week's rally, July's high crossing at $2.2049 is the next upside target. Closes below the 10-day moving average crossing at $2.0396 would signal that a short-term top has been posted. First resistance is today's high crossing at $2.1465. Second resistance is July's high crossing at $2.2049. First support is the 10-day moving average crossing at $2.0396. Second support is Monday's low crossing at $1.8726. Third support is the 25% retracement level of the 2020-2021-rally crossing at $1.8585.    

October Henry natural gas closed 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 have turned neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 3.985 would signal that a short-term low has been posted while opening the door for additional gains near-term. If October resumes the decline off August's high, the 50-day moving average crossing at 3.774 is the next downside target. 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 last-Thursday's low crossing at 3.751. Second support is the July 16^th low crossing at 3.583.  

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

The September Dollar closed lower for the fourth-day in a row on Wednesday as it extended the decline off last-Friday'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 neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 92.74 would signal that a short-term top has been posted. If September resumes 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 last-Friday's high crossing at 93.75. 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 92.74. Second support is the 50-day moving average crossing at 92.52. 

The September Euro closed higher for the fourth-day in a row on Wednesday as it extended the rally off last-Friday's low. 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. Closes above the 20-day moving average crossing at 117.81 would signal that a short-term low has been posted. If September renews the decline off May's high, the 50% retracement level of the 2020-2021-rally crossing at 116.07 is the next downside target. First resistance is the 20-day moving average crossing at 117.81. Second resistance is the 50-day moving average crossing at 118.34. First support is last-Friday's low crossing at 116.69. Second support is the 50% retracement level of the 2020-2021-rally crossing at 116.07.

The September British Pound closed higher on Wednesday as it extended the rally off last-Friday's low. 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 bullish signaling that a low might be in or is near. Closes above the 50-day moving average crossing at 1.3830 are needed to confirm that a short-term low has been posted. If September renews the decline off July's high, the 25% retracement level of the 2020-2021-rally crossing at 1.3578 is the next downside target. First resistance is the 50-day moving average crossing at 1.3830. Second resistance is the July 30^th high crossing at 1.3985. First support is the 25% retracement level of the 2020-2021-rally crossing at 1.3578. Second support is minor support crossing at 1.3471.  

The September Swiss Franc 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 neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the August 17^th high crossing at 1.0997 is needed to renew the rally off August's low. If September resumes the decline off August's high, July's low crossing at 1.0801 is the next downside target. First resistance is the August 17^th high crossing at 1.0957. Second resistance is August's high crossing at 1.1100. First support is August's low crossing at 1.0828. Second support is July's low crossing at 1.0801.

The September Canadian Dollar posted an inside day with a lower close on Wednesday as it consolidated some of this week's rally off last-Friday's low. 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. Closes above the 20-day moving average crossing at 79.51 signal that a short-term low has been posted. If September renews the decline off July's high, the 50% retracement level of the 2020-2021-rally crossing at 76.02 is the next downside target. First resistance is the 20-day moving average crossing at 79.51. Second resistance is the 50-day moving average crossing at 79.93. First support is last-Friday's low crossing at 77.23. Second support is the 50% retracement level of the 2020-2021-rally crossing at 76.02.

The September Japanese Yen 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 signaling that sideways to lower prices are possible near-term. If September renews last-week's decline, August's low crossing at 0.090270 is the next downside target. Closes above the August 16^th high crossing at 0.091665 are needed to 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 August'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 due to profit taking on Wednesday 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 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 December extends the rally off August's low, July's high crossing at $1939.00 is the next upside target. Closes below the August 19^th low crossing at $1774.60 would signal that a short-term top has been posted. First resistance is Tuesday's high crossing at $1812.20. Second resistance is July's high crossing at $1939.00. First support is the August 19^th low crossing at $1774.60. Second support is August's low crossing at $1677.90.  

September silver closed slightly lower on Wednesday as it extends this month's trading range. 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 bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 24.162 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 24.162. Second resistance is the 50-day moving average crossing at 25.210. 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 higher for the fourth-day in a row on Wednesday as it extended the rally off last-Thursday'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 431.05 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 431.05. Second resistance is July's high crossing at 462.75. First support is last-Thursday'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 $0.06 1/2-cents at $5.51 3/4. 

December corn closed higher on Wednesday as it extended the rally off Monday's low. 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 10-day moving average crossing at $5.56 1/4 would signal that a short-term low has been posted. If December extends the decline off August's high, July's low crossing at $5.07 is the next downside target. First resistance is the 10-day moving average crossing at $5.56 1/4. Second resistance is August's high crossing at $5.94 1/4. First support is Monday's low crossing at $5.29 1/2. Second support is July's low crossing at $5.07.    

September wheat closed down $0.06 1/4-cents at $7.11 1/4.  

September wheat closed lower on Wednesday as it extends 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 September extends the decline off August's high, the 50-day moving average crossing at $6.87 1/4 is the next downside target. Closes above the 10-day moving average crossing at $7.34 would temper the near-term bearish outlook. First resistance is the 10-day moving average crossing at $7.34. Second resistance is August's high crossing at $7.74 3/4. First support is today's low crossing at $7.04 1/4. Second support is the 50-day moving average crossing at $6.87 1/4.

September Kansas City Wheat closed down $0.02-1/4 at $7.02.

September Kansas City wheat 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 remain neutral to bearish signaling that sideways to lower prices are possible near-term. This week's closes below the 20-day moving average crossing at $7.08 confirms 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 August'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 $7.08. Second support is the 50-day moving average crossing at $6.58 3/4.  

September Minneapolis wheat closed down $0.05 1/2-cents at $9.25 1/4. 

September Minneapolis wheat 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 signaling that sideways trading is possible near-term. 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. Closes below last-Friday's low crossing at $9.05 would confirm that a short-term top has been posted. First resistance is August'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 August 6^th low crossing at $8.91. Second support is the 50-day moving average crossing at $8.72 3/4. 

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

November soybeans closed up $0.01-cents at $13.32 3/4.

November soybeans closed 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 neutral to bullish signaling that a low might be in or is near-term. Closes above the 50-day moving average crossing at $13.40 3/4 would signal that a short-term low has been posted. If November renews the decline off last-Tuesday's high, the June 25^th low crossing at $12.59 3/4 is the next downside target. First resistance is last-Tuesday's high crossing at $13.79 3/4. Second resistance is the July 19^th high crossing at $14.18. First support is last-Friday's low crossing at $12.77 1/4. Second support is the June 25^th low crossing at $12.59 3/4.

December soybean meal closed down $2.90 at $352.80. 

December soybean meal posted an inside day with a lower close 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 bearish signaling that sideways to lower prices are possible near-term. If December extends 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 $362.50 would signal that a double bottom with June's low has been posted. First resistance is the 50-day moving average crossing at $362.50. Second resistance is the July 21^st high crossing at $375.70. First support is Monday's low crossing at $347.60. Second support is June's low crossing at $347.00.       

December soybean oil closed up 69-pts. at 61.24. 

December soybean oil closed higher for the Third-day in a row on Wednesday as it consolidated some of last-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 bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 61.31 are needed to confirm that a short-term low has been posted. If December renews the decline off July's high, June's low crossing at 53.10 is the next downside target. First resistance is the August 16^th high crossing at 64.00. Second resistance is the July 29^th high crossing at 66.55. First support is last-Friday's low crossing at 56.42. Second support is June's low crossing at $53.10. 

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

October hogs closed up $1.78 at $88.75. 

October hogs closed higher on Wednesday 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 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 last-Friday's high crossing at $89.78 would confirm that a short-term low has been posted while opening the door for additional gains near-term. 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 August's low crossing at $83.32. Second support is June's low crossing at $80.90. 

October cattle closed down $1.40 at $130.40. 

October cattle closed lower on Wednesday as it consolidated some of Monday's rally. The low-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are overbought but are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at $127.79 would signal that a short-term top has been posted. If October extends the rally off the July 19^th low, the May-2017 high on the monthly continuation chart crossing at $134.55 is the next upside target. First resistance is Tuesday's high crossing at $132.85. Second resistance is the May-2017 high on the monthly continuation chart crossing at $134.55. First support is the 10-day moving average crossing at $129.41. Second support is the 50-day moving average crossing at $127.79.  

October Feeder cattle closed down $0.95 at $169.28. 

October feeder cattle closed lower on Wednesday 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 Thursday's 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 $165.98 would confirm that a short-term top has been posted. If October extends 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. First resistance is Tuesday's high crossing at $172.55. 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 20-day moving average crossing at $165.98. Second support is the 50-day moving average crossing at $163.62.   

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

December coffee closed slightly higher on Wednesday. The mid-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. Closes above the August 13^th high crossing at $190.50 would signal that a short-term low has been posted. If December renews the decline off July's high, the 50-day moving average crossing at $173.10 is the next downside target. 

December cocoa closed higher on Wednesday as it consolidated some of the decline off August's high. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If December renews the rally off July's low, weekly resistance on the continuation chart crossing at 27.07 is the next upside target. Closes below the 20-day moving average crossing at 25.41 would signal that a short-term top has been posted.                         

October sugar 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 bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 19.14 would signal that a short-term top has been posted. If October renews the rally off July's low, the February-2017 high on the monthly continuation chart crossing at 21.49 is the next upside target.         

December cotton closed higher for the fourth-day in a row on Wednesday. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If December resumes 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 92.30 would signal that a short-term top has been posted.