KEY EVENTS TO WATCH FOR:

Monday, September 13, 2021  

11:30 AM ET. Federal Reserve Board of Governors closed meeting (virtual)

2:00 PM ET. August Monthly Treasury Statement of Receipts & Outlays of the U.S. Govt.

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

The Dow closed lower for the fifth-day in a row on Friday as it extends this week's decline.The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below August's low crossing at 34,690.25 would confirm that a short-term top has been posted. If the Dow resumes the rally off August's low, August's high crossing at 35,631.19 is the next upside target. First resistance is last-Monday's high crossing at 35,510.71. Second resistance is August's high crossing at 35,631.19. First support is August's low crossing at 33,690.25. Second support is July's low crossing at 33,741.76.  

The September NASDAQ 100 closed lower on Friday as it extends the trading range of the past seven-days.The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are 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 15,365.19 would confirm that a short-term top has been posted. First resistance is Tuesday's high crossing at 15,708.75. Second resistance is unknown. First support is the 20-day moving average crossing at 15,365.24. Second support is the 50-day moving average crossing at 15,090.88.

The September S&P 500 closed slightly lower on Friday as it extends this week's decline. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 4484.14 would signal 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 last-Friday's high crossing at 4549.50. Second resistance is unknown. First support is the 20-day moving average crossing at 4484.14. Second support is the 50-day moving average crossing at 4418.89.  

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September T-bonds closed down 29/32's at 164-07. 

September T-bonds closed lower on Friday while extending the July-September trading range. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If 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 Tuesday's low crossing at 163-06. Second support is August's low crossing at 162-17.  

September T-notes closed down 100-pts at 133.250.

September T-notes 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 when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling sideways to higher prices are possible near-term. If September renews the rally off the August 26^th low, the August 17^th high crossing at 134.195 is the next upside target. If September resumes the decline off August's high, the July 14^th low crossing at 132.300 is the next downside 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 closed higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday'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. If October resumes the rally off August's low, the July 30^th high crossing at $73.52 is the next upside target. Closes below the 20-day moving average crossing at $67.56 would confirm that a short-term top has been posted. First resistance is last-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 $67.56. Second support is August's low crossing at $61.74.

October heating oil closed higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday's night trading session begins. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If October resumes the rally off August's low, the July 30^th high  crossing at $220.48 is the next upside target. Closes below the 20-day moving average crossing at $208.51 would signal that a short-term top has been posted. First resistance is last-Friday'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 $208.51. Second support is August's low crossing at $189.71.      

October unleaded gas closed higher on Friday as it extends the trading range of the past two-weeks. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are 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 $2.0859 would signal that a short-term top has been posted. First resistance is last-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 $2.0859. Second support is August's low crossing at $1.8726.    

October Henry natural gas closed lower on Friday as it consolidates some of this year's rally. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If October extends the rally off August's low, the June-2014 high crossing at 5.236 is the next upside target. Closes below the 20-day moving average crossing at 4.289 would signal that a short-term top has been posted while opening the door for additional weakness near-term. First resistance is today's high crossing at 5.058. Second resistance is the June-2014 high crossing at 5.236. First support is the 10-day moving average crossing at 4.650. Second support is the 20-day moving average crossing at 4.289.  

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

The September Dollar closed higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that a short-term low might be in or is near. Closes above the 20-day moving average crossing at 92.74 would signal that a short-term low has been posted. If September renews the decline off August's high, the June 23^rd low crossing at 91.51 is the next downside target. First resistance is the 20-day moving average crossing at $92.74. Second resistance is the August 26^th high crossing at 93.20. 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 lower on Friday 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 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 117.90 would confirm that a short-term top has been posted. If September renews the rally off August's low, the June 25^th high crossing at 119.95 is the next upside target. 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 117.90. Second support is August's low crossing at 116.69. 

The September British Pound closed slightly higher on Friday. The low-range close sets the stage for a steady to slightly higher opening when Monday's night session begins trading. Stochastics and the RSI are turning 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 20-day moving average crossing at 1.3769 would signal that a short-term top has been posted. First resistance is last-Friday'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 lower on Friday as it extends the trading range of the past four-weeks.The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral 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 closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the August 27^th low crossing at 78.69 would signal that a short-term top has been posted. If September renews the rally off August's low, the July 30^th high crossing at 80.50 is the next upside target. 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 Wednesday's low crossing at 78.35. Second support is August's low crossing at 77.23.

The September Japanese Yen posted an inside day with a lower close on Friday while extending the July-September trading range. The mid-range close sets the stage for a steady to lower opening when Monday’s night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes 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 lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends this week's decline, the August 19^th low crossing at $1774.60 is the next downside target. If December renews the rally off August's low, the 75% retracement level of the June-August decline crossing at $1861.30 is the next upside target. First resistance is last-Friday'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 August 19^th low crossing at $1774.60. Second support is August's low crossing at $1677.90.

September silver closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 23.850 would signal that a short-term top has been posted. Closes above the 50-day moving acreage crossing at 24.733 would open the door for additional short-term gains. First resistance is the 50-day moving average crossing at 24.733. Second resistance is August's high crossing at 26.090. First support is the 20-day moving average crossing at 23.850. Second support is the August 27^th low crossing at 23.305. Third support is the August 20^th low crossing at 22.835.   

September copper closed sharply higher on Friday as it renewed the rally off August's low. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Today's close above the August 13^th high crossing at 443.10 opens the door for a possible test of July's high crossing at 462.75. Closes below Wednesday's low crossing at 420.80 would open the door for a possible test of August's low crossing at 396.15. First resistance is today's high crossing at 446.20. Second resistance is July's high crossing at 462.75. First support is Wednesday's low crossing at 420.80. Second support is August's low crossing at 396.15.  

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

December Corn closed up $0.07 1/2-cents at $5.17 1/2. 

December corn posted a key reversal up as it closed higher on Friday following a bearish WASDE report. The USDA pegged this year's corn yield at 176.3 bpa vs. August's estimate of 174.6 bpa. Harvested acres came in at 85.1 mil. ac. verses 84.495 mil in the August report. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are oversold but are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at $5.39 1/2 would signal that a short-term low has been posted. If December extends the decline off August's high, the April 1^st gap crossing at $4.77 1/2 is the next downside target. First resistance is the 10-day moving average crossing at $5.25. Second resistance is the 20-day moving average crossing at $5.39 1/2. First support is May's low crossing at $5.00 1/4. Second support is the April 1^st gap crossing at $4.77 1/2.    

December wheat closed down $0.03 3/4-cents at $6.88 1/2.  

December wheat closed lower on Friday as it extends the decline off August's high while opening the door for a possible test of the July 26^th low crossing at $6.75. The USDA pegged ending stocks at 615 mbu vs. 627 mbu in their August report. World stocks were pegged at 283.22 mmt vs 279.1 mmt in August.The mid-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the aforementioned decline, the 75% retracement level of the July-August-rally crossing at $6.60 1/4 is the next downside target. Closes above the 20-day moving average crossing at $7.29 3/4 would temper the near-term bearish outlook. First resistance is the 20-day moving average crossing at $7.29 3/4. Second resistance is August's high crossing at $7.74 3/4. First support is today's low crossing at $6.77. Second support is the 75% retracement level of the July-August-rally crossing at $6.60 1/4.

December Kansas City Wheat closed down $0.00 1/4-cents at $6.82 1/2.

December Kansas City wheat closed fractionally lower on Friday and below the 50-day moving average crossing at $6.87 3/4. The high-range close sets the stage for a steady to slightly lower opening when Monday's night session begins trading. Stochastics and the RSI are 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 62% retracement level of the July-August-rally crossing at $6.58 1/4 is the next downside target. Closes above Tuesday's high crossing at $7.29 3/4 would signal that a short-term low has been posted. First resistance is August 27^thhigh crossing at $7.35 1/2. Second resistance is August's high crossing at $7.56 1/4. First support is the 50% retracement level of the July-August-rally crossing at $6.79 1/2.Second support is the 62% retracement level of the July-August-rally crossing at $6.58 1/4. 

December Minneapolis wheat closed up $0.06 1/4-cents at $8.78 3/4. 

December Minneapolis wheat closed higher on Friday as it consolidated some of this week's decline but remain below the 50-day moving average crossing at $8.86 1/4 as it confirms that a short-term top has been posted. The high-range close sets the stage for a steady to slightly lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices is possible near-term. If December extends the decline off August's high, the 25% retracement level of the 2020-2021-rally crossing at $8.44 3/4 is the next downside target. Closes above the 20-day moving average crossing at $9.05 1/2 would signal that a short-term top has been posted. First resistance is the August 30^th high crossing at $9.27. Second resistance is August's high crossing at $9.37 1/2. First support is the July 26^th low crossing at $8.57. Second support is the 25% retracement level of the 2020-2021-rally crossing at $8.44 3/4. 

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

November soybeans closed up $0.16-cents at $12.86 1/2.

November soybeans posted a key reversal up an closed higher on Friday as it consolidated some of the decline off July's high. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are 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 20-day moving average crossing at $13.11 1/4 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at $13.11 1/4. Second resistance is the 50-day moving average crossing at $13.36 3/4. First support is today's low crossing at $12.62 3/4. Second support is the June 25^th low crossing at $12.59 3/4.

December soybean meal closed up $4.40 at $342.50. 

December soybean meal 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 Monday's night session begins trading. Stochastics and the RSI are oversold but are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at $349.60 would signal that a low has been posted. 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. First resistance is the 20-day moving average crossing at $349.60. Second resistance is the 50-day moving average crossing at $357.40. First support is Thursday's low crossing at $335.40. Second support is the 75% retracement level of the 2020-2021 rally crossing at $324.00.      

December soybean oil closed down 20-pts. at 55.99. 

December soybean oil closed lower on Friday as it extends the decline off July's high. The mid-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are 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, June's low crossing at 53.10 is the next downside target. Closes above the 20-day moving average crossing at 59.43 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 59.43. Second resistance is the 50-day moving average crossing at 61.10. First support is today's low crossing at 55.36. Second support is June's low crossing at $53.10. 

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

October hogs closed down $2.68 at $82.80. 

October hogs closed sharply lower on Friday as it extends the decline off the August 30^th 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 neutral to bearish signaling that sideways to lower prices are possible near-term. If October extends this week's decline, June's low crossing at $80.90 is the next downside target.  Closes above the 10-day moving average crossing at $88.30 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $80.90. Second resistance is the August 30^th high crossing at $91.42. First support is today's low crossing at $81.95. Second support is June's low crossing at $80.90. 

October cattle closed down $0.20 at $123.55. 

October cattle closed lower on Friday. The mid-range close sets the stage for a steady to lower opening on Monday. 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 38% retracement level of the 2020-2021-rally crossing at $120.96 is the next downside target. Closes above the 20-day moving average crossing at $127.61 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $125.69. Second resistance is the 20-day moving average crossing at $127.61. First support is Wednesday's low crossing at $123.03. Second support is the 38% retracement level of the 2020-2021-rally crossing at $120.96. 

October Feeder cattle closed down $1.58 at $157.68. 

October feeder 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 when Monday's 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 62% retracement level of the May-August-rally crossing at $155.98 is the next downside target. Closes above the 20-day moving average crossing at $165.47 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at $163.70. Second resistance is the 20-day moving average crossing at $165.47. First support is the 62% retracement level of the May-August-rally crossing at $155.98. Second support is the 75% retracement level of the May-August-rally crossing at $152.42.  

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

December coffee posted an inside day with a higher close 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 on Monday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the aforementioned decline, the 50-day moving average crossing at $180.57 is the next downside target. Closes above the 10-day moving average crossing at $193.07 would signal that a short-term low has been posted. 

December cocoa closed sharply lower on Friday 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 Monday. Stochastics and the RSI are overbought and are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below today's low crossing at 25.97 would signal that a short-term top has been posted. If December resumes the rally off July's low, the November 2020 high on the weekly continuation chart crossing at 28.21 is the next upside target.                            

October sugar closed lower on Friday as it extends the decline off August's high. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at 18.69 opens the door for a possible test of August's low crossing at 17.74. Closes above the 20-day moving average crossing at 19.72 would signal that a short-term low has been posted.        

December cotton closed higher on Friday. The high-range close sets the stage for a steady to slightly higher opening on Monday. Stochastics and the RSI are 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 91.16 is the next downside target. If December resumes the rally off May's low, weekly resistance on the continuation chart crossing at 97.35 is the next upside target.