KEY EVENTS TO WATCH FOR:

Monday, September 6, 2021  

  N/A              Marianas: Labor Day

  N/A              U.S. Labor Day. Financial markets closed

Tuesday, September 7, 2021 

10:00 AM ET. 2^nd Quarter Quarterly Financial Report – Industry

10:00 AM ET. 2^nd Quarter Quarterly Financial Report - Retail Trade

10:00 AM ET. August Employment Trends Index

                       ETI (previous 109.80)

                       ETI, Y/Y%

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

The Dow closed lower on Fridayfollowing the release of today's disappointing August jobs report, which showed a sharp decline in hiring last month as the Delta variant spread across the nation. Non-farm payrolls increased by only 235,000, well below the more than 1 million job gains posted during July. Despite today's disappointing jobs report, the unemployment rate fell to a fresh pandemic-era low of 5.2%. The mid-range close sets the stage for a steady to slightly lower opening when Tuesday'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 resumes the rally off August's low, August's high crossing at 35,631.19 is the next upside target. Closes below August's low crossing at 34,690.25 would confirm that a short-term top has been posted. First resistance is Monday's high crossing at 35,510.71. Second resistance is August's high crossing at 35,631.19. First support is the 50-day moving average crossing at 34,996.38. Second support is August's low crossing at 33,690.25.  

The September NASDAQ 100 closed higher on Friday as it extended this week's trading range.The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are 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 20-day moving average crossing at 15,257.89 would confirm that a short-term top has been posted. First resistance is Wednesday's high crossing at 15,699.00. Second resistance is unknown. First support is the 20-day moving average crossing at 15,257.89. Second support is the 50-day moving average crossing at 15,001.83.

The September S&P 500 closed slightly lower on Friday. The mid-range close sets the stage for a steady to higher opening when Tuesday'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 20-day moving average crossing at 4471.27 would signal that a short-term top has been posted. First resistance is today's high crossing at 4549.50. Second resistance is unknown. First support is the 20-day moving average crossing at 4471.27. Second support is the 50-day moving average crossing at 4401.16.  

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

September T-bonds closed down 19/32's at 164-12. 

September T-bonds closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Tuesday'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 renews the rally off August's low, August's high crossing at 167-00 is the next upside target. Closes below the August 26^th low crossing at 163-11 would open the door for a possible test of August's low crossing at 162-17. First resistance is the August 20^th high crossing at 166-06. Second resistance is the 75% retracement level of the 2020-2021-decline crossing at 167-00. First support is the August 26^th low crossing at 163-11. Second support is August's low crossing at 162-17.  

September T-notes closed down 45-pts at 133.315.

September T-notes posted a key reversal down as it closed lower on Friday. The low-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 bearish signaling sideways to lower prices are possible near-term. If September resumes the decline off August's high, the July 14^th low crossing at 132.300 is the next downside target. If September extends the rally off last-Thursday's low, the August 17^th high crossing at 134.195 is the next upside target. First resistance is the August 17^th high crossing at 134.195. Second resistance is August's high crossing at 135.140. 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 posted an inside day with a lower close on Friday. If October extends its rally off August's low, the July 30^th high crossing at $73.52 is the next upside target. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. Closes below the 20-day moving average crossing at $67.40 would signal that a short-term top has been posted. First resistance is Thursday's high crossing at $70.61. Second resistance is the July 30^th high crossing at $73.52. First support is the 20-day moving average crossing at $67.40. Second support is August's low crossing at $61.74.

October heating oil closed lower on Friday 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 Tuesday's night trading session begins. 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 aforementioned rally, the July 30^th high  crossing at $220.48 is the next upside target. Closes below the 20-day moving average crossing at $207.64 would signal that a short-term top has been posted. First resistance is today's high crossing at $218.48. Second resistance is the the July 30^th high  crossing at $220.48. First support is the 20-day moving average crossing at $207.64. Second support is August's low crossing at $189.71.      

October unleaded gas closed lower on Friday. The low-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 signaling that sideways trading is possible near-term. If October renews the rally off August's low, the 75% retracement level of the 2008-2020-decline on the monthly continuation chart crossing at 2.8181 is the next upside target. Closes below the 20-day moving average crossing at $2.0840 would signal that a short-term top has been posted. First resistance is Monday's high crossing at $2.2117. Second resistance is the 75% retracement level of the 2008-2020-decline on the monthly continuation chart crossing at 2.8181. First support is the 20-day moving average crossing at $2.0840. Second support is August's low crossing at $1.8726.    

October Henry natural gas closed higher on Friday as it extends this year's rally. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If October extends this month's rally, the 38% retracement level of the 2008-2020-decline on the monthly continuation chart crossing at 4.817 is the next upside target. Closes below the 20-day moving average crossing at 4.125 would signal that a short-term top has been posted while opening the door for additional weakness near-term. First resistance is Thursday's high crossing at 4.727. Second resistance is the 38% retracement level of the 2008-2020-decline on the monthly continuation chart crossing at 4.817. First support is the 10-day moving average crossing at 4.304. Second support is the 20-day moving average crossing at 4.125.  

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

The September Dollar closed lower on Friday as it extended the decline off August's high. 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 oversold but remain neutral to bearish signaling that a short-term top might be in or is near. If September extends the decline off August's high, the June 23^rd low crossing at 91.51 is the next downside target. Closes above the 20-day moving average crossing at 92.85 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at $92.61. Second resistance is the 20-day moving average crossing at 92.85. First support is July's low crossing at 91.78. Second support is the June 23^rd low crossing at 91.51. 

The September Euro closed higher on Friday as it extended the rally off August's low. The mid-range close sets the stage for a steady to higher opening when Tuesday'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 August's low, the June 25^th high crossing at 119.95 is the next upside target. Closes below the 20-day moving average crossing at 117.72  would confirm that a short-term top has been posted. First resistance is July's high crossing at 119.19. Second resistance is the June 25^th high crossing at 119.95. First support is the 20-day moving average crossing at 117.72. Second support is August's low crossing at 116.69. 

The September British Pound closed higher on Friday as it extended the rally off August's low. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off August's low, the July 30^th high crossing at 1.3985 is the next upside target. Closes below the 10-day moving average crossing at 1.3771 would signal that a short-term top has been posted. First resistance is today's high crossing at 1.3893. Second resistance is the July 30^th high crossing at 1.3985. First support is the August 27^th low crossing at 1.3680. Second support is the August low crossing at 1.3602.  

The September Swiss Franc closed slightly higher on Friday as it extended the trading range of the past three-weeks.The mid-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral signaling that sideways trading is 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 closed higher on Friday and above the 50-day moving average crossing at 79.69 as it extended the rally off August's low. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off August's low, the July 30^th high crossing at 80.50 is the next upside target. Closes below the August 27^th low crossing at 78.69 would signal that a short-term top has been posted. First resistance is theJuly 30^th high crossing at 80.50. Second resistance is the July's high crossing at 81.28. First support is the August 27^th low crossing at 78.69. Second support is  August's low crossing at 77.23.

The September Japanese Yen closed lower on Friday as it extended the July-August trading range. The high-range close sets the stage for a steady to higher opening when Tuesday’s night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes below August's low crossing at 0.090270 or above the August high crossing at 0.092000 are needed to confirm a breakout of the aforementioned trading range. 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 higher on Friday as it extends the rally off August's low. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are 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, the 75% retracement level of the June-August decline crossing at $1861.30 is the next upside target. Closes below the 20-day moving average crossing at $1789.10 would signal that a short-term top has been posted. First resistance is today's high crossing at $1836.90. Second resistance is the 75% retracement level of the June-August decline crossing at $1861.30. First support is the 50-day moving average crossing at $1798.50. Second support is the 20-day moving average crossing at $1789.10.  

September silver closed sharply higher on Friday as it extends the rally off August's low. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. September extends the rally off August's low, the 50-day moving acreage crossing at 24.895 is the next upside target. Closes below the August 27^th low crossing at 23.305 would signal that a short-term top has been posted. First resistance is the 50-day moving average crossing at 24.895. Second resistance is August's high crossing at 26.090. First support is the August 27^th low crossing at 23.305. Second support is the August 20^th low crossing at 22.835.   

September copper closed higher on Friday. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral signaling that sideways trading is possible near-term. Closes above the August 13^th high crossing at 443.10 would open the door for a possible test of July's high crossing at 462.75. Closes below Wednesday's low crossing at 424.10 would signal that a short-term top has been posted. First resistance is the August 13^th high crossing at 443.10. Second resistance is July's high crossing at 462.75. First support is August'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 down $0.01 1/2-cents at $5.24. 

December corn closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Tuesday'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 December extends the decline off August's high, July's low crossing at $5.07 is the next downside target. Closes above Monday's high crossing at $5.58 would signal that a short-term low has been posted. First resistance is Monday's high crossing at $5.58. Second resistance is August's high crossing at $5.94 1/4. First support is Thursday's low crossing at $5.16 3/4. Second support is July's low crossing at $5.07.    

December wheat closed up $0.09 1/4-cents at $7.26 1/4.  

December wheat closed higher on Friday as it consolidates some of the decline off August's high.The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off August's high, the 50-day moving average crossing at $7.05 1/4 is the next downside target. Closes above the 20-day moving average crossing at $7.37 3/4 would temper the near-term bearish outlook. First resistance is the 20-day moving average crossing at $7.37 3/4. Second resistance is August's high crossing at $7.74 3/4. First support is the 50-day moving average crossing at $7.05 1/4. Second support is the July 26^th low crossing at $6.75.

December Kansas City Wheat closed up $0.14 at $7.23.

December Kansas City wheat closed higher on Friday 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 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 last-Friday's high crossing at $7.35 1/2 would signal that a short-term low has been posted. If December extends the decline off August's high, the 50-day moving average crossing at $6.83 is the next downside target. First resistance is last-Friday's high crossing at $7.35 1/2. Second resistance is August's high crossing at $7.56 1/4. First support is Wednesday's low crossing at $6.97 1/4. Second support is the 50-day moving average crossing at $6.83.  

December Minneapolis wheat closed up $0.13-cents at $9.12 1/2. 

December Minneapolis wheat closed higher on Friday. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices is possible near-term. If December 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 the 50-day moving average crossing at $8.80 1/2 would confirm that a short-term top has been posted. First resistance is August's high crossing at $9.37 1/2. Second resistance is the September-2012 high on the monthly continuation chart crossing at $9.83 1/4. First support is the August 20^th low crossing at $8.89 1/4. Second support is the 50-day moving average crossing at $8.80 1/2. 

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

November soybeans closed up $0.08 3/4-cents at $12.92.

November soybeans closed higher on Friday as it consolidates some of the decline off August's high. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If November extends the decline off August's high, the June 25^th low crossing at $12.59 3/4 is the next downside target. Closes above the 50-day moving average crossing at $13.40 1/4 would confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at $13.40 1/4. Second resistance is the August 17^th high crossing at $13.79 3/4. First support is Wednesday's low crossing at $12.70. Second support is the June 25^th low crossing at $12.59 3/4.

December soybean meal closed up $1.00 at $341.00. 

December soybean meal closed higher on Friday. The mid-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off July's high, the 75% retracement level of the 2020-2021 rally crossing at $324.00 is the next downside target. Closes above the 20-day moving average crossing at $353.50 would signal that a low has been posted. First resistance is the 10-day moving average crossing at $348.10. Second resistance is the 20-day moving average crossing at $353.50. First support is today's low crossing at $338.40. Second support is the 75% retracement level of the 2020-2021 rally crossing at $324.00.      

December soybean oil closed up 21-pts. at 59.00. 

December soybean oil closed higher on Friday. The low-range close sets the stage for a steady to slightly higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral signaling that sideways trading is possible near-term. If December renews the decline off July's high, June's low crossing at 53.10 is the next downside target. Closes above the 50-day moving average crossing at 61.38 are needed to confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 61.38. Second resistance is the August 16^th high crossing at 64.00. First support is August'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 down $0.25 at $89.60. 

October hogs posted an inside day with a lower close on Friday. The low-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 bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at $87.96 would signal that a short-term top has been posted. If October renews the rally off August's low, August's high crossing at $91.73 is the next upside target. First resistance is August's high crossing at $91.73. Second resistance is July's high crossing at $94.05. First support is the August 24^th low crossing at $86.05. Second support is August's low crossing at $83.32. 

October cattle closed down $1.35 at $124.70. 

October cattle closed lower on Friday as it extended the decline off August's high. The low-range close sets the stage for a steady to lower opening on Tuesday. 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 $124.05 is the next downside target. Closes above the 10-day moving average crossing at $128.62 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $128.62. Second resistance is August's high crossing at $132.85. First support is today's low crossing at $124.62. Second support is July's low crossing at $124.05. 

October Feeder cattle closed down $2.75 at $162.30. 

October feeder cattle closed sharply lower for the second day in a row on Friday as it extended the decline off August's high. The low-range close sets the stage for a steady to lower opening when Tuesday's session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If October extends the decline off August's high, the July 22^nd gap crossing at $161.30 is the next downside target. Closes above the 10-day moving average crossing at $167.90 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at $167.90. Second resistance is August's high crossing at $172.55. First support is the 38% retracement level of the May-August-rally crossing at $162.34. Second support is the July 22^nd gap crossing at $161.30.  

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

December coffee closed lower on Friday. The mid-range close sets the stage for a steady to lower opening on Tuesday. 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 $187.84 would signal that a short-term top has been posted. If December resumes the rally off August's low, July's high crossing at $217.85 is the next upside target. 

December cocoa closed sharply higher for the second day in a row on Friday. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If December renews the rally off July's low, weekly resistance on the continuation chart crossing at 27.07 is the next upside target. If December renews the decline off August's high, the 50-day moving average crossing at 24.80 is the next downside target.                          

October sugar closed lower on Friday as it extends the August-September trading range. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the August 25^th low crossing at 19.42 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 on Friday. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If December resumes the rally off May's low, weekly resistance on the continuation chart crossing at 97.35 is the next upside target. If December renews this week's decline, the 50-day moving average crossing at 90.60 is the next downside target.