KEY EVENTS TO WATCH FOR:
Tuesday, September 21, 2021
7:45 AM ET. Weekly Chain Store Sales Index
8:30 AM ET. August New Residential Construction - Housing Starts and Building Permits
Total Starts (previous 1.534M)
Housing Starts, M/M% (previous -7.0%)
Building Permits (previous 1.635M)
Building Permits, M/M% (previous +2.6%)
8:30 AM ET. 2nd Quarter International Transactions
Current Account (USD) (previous -195.74B)
8:55 AM ET. Johnson Redbook Retail Sales Index
Ret Sales Mo-to-Date, M/M%
Ret Sales Mo-to-Date, Y/Y% (previous +15.9%)
Latest Wk, Y/Y% (previous +15.3%)
4:30 PM ET. API Weekly Statistical Bulletin
Crude Stocks, Net Chg (Bbls) (previous -5.4M)
Gasoline Stocks, Net Chg (Bbls) (previous -2.8M)
Distillate Stocks, Net Chg (Bbls) (previous -2.9M)
N/A U.S. Federal Open Market Committee meeting
Wednesday, September 22, 2021
7:00 AM ET. MBA Weekly Mortgage Applications Survey
Composite Idx (previous 707.9)
Composite Idx, W/W% (previous +0.3%)
Purchase Idx-SA (previous 277.9)
Purchase Idx-SA, W/W% (previous +7.5%)
Refinance Idx (previous 3185.6)
Refinance Idx, W/W% (previous -3.2%)
10:00 AM ET. August Existing Home Sales
Existing Sales (previous 5.99M)
Existing Sales, M/M% (previous +2.0%)
Unsold Homes Month's Supply (previous 2.6)
Median Price (USD) (previous 359900)
Median Home Price, Y/Y% (previous +17.8%)
10:30 AM ET. EIA Weekly Petroleum Status Report
Crude Oil Stocks (Bbl) (previous 417.445M)
Crude Oil Stocks, Net Chg (Bbl) (previous -6.422M)
Gasoline Stocks (Bbl) (previous 218.142M)
Gasoline Stocks, Net Chg (Bbl) (previous -1.857M)
Distillate Stocks (Bbl) (previous 131.897M)
Distillate Stocks, Net Chg (Bbl) (previous -1.689M)
Refinery Usage (previous 82.1%)
Total Prod Supplied (Bbl/day) (previous 19.911M)
Total Prod Supplied, Net Chg (Bbl/day) (previous -0.043M)
2:00 PM ET. U.S. interest rate decision
Federal Funds Rate
Federal Funds Rate Change (Pts)
Fed Funds Rate-Range High (previous 0.25)
Fed Funds Rate-Range Low (previous 0.00)
FOMC Vote For Action (previous 11)
FOMC Vote Against Action (previous 0)
Discount Rate (previous 0.25)
Discount Rate Change (Pts) (previous +0)
Discount Rate-Range High
Discount Rate-Range Low
2:00 PM ET. Federal Reserve economic projections
Median Fed Funds Rate - 2021 (previous 0.1%)
Median Fed Funds Rate - 2022 (previous 0.1%)
Median Fed Funds Rate - 2023 (previous 0.6%)
Median Fed Funds Rate - 2024
Thursday, September 23, 2021
8:30 AM ET. August CFNAI Chicago Fed National Activity Index
NAI (previous 0.53)
NAI, 3-mo Moving Avg (previous 0.23)
8:30 AM ET. 2nd Quarter State Quarterly Personal Income
8:30 AM ET. Unemployment Insurance Weekly Claims Report - Initial Claims
Jobless Claims (previous 332K)
Jobless Claims, Net Chg (previous +20K)
Continuing Claims (previous 2665000)
Continuing Claims, Net Chg (previous -187K)
8:30 AM ET. U.S. Weekly Export Sales
Corn (Metric Tons) (previous 248.9K)
Soybeans (Metric Tons) (previous 1266.2K)
Wheat (Metric Tons) (previous 617.1K)
9:45 PM ET. Bloomberg Consumer Comfort Index
9:45 AM ET. September US Flash Manufacturing PMI
PMI, Mfg (previous 61.2)
9:45 AM ET. September US Flash Services PMI
PMI, Services (previous 55.2)
10:00 AM ET. August Leading Indicators
Leading Index, M/M% (previous +0.9%)
Leading Index (previous 116.0)
Coincident Index, M/M% (previous +0.6%)
Lagging Index, M/M% (previous +0.6%)
10:30 AM ET. EIA Weekly Natural Gas Storage Report
Working Gas In Storage (Cbf) (previous 3006B)
Working Gas In Storage, Net Chg (Cbf) (previous +83B)
11:00 AM ET. Sept. Federal Reserve Bank of Kansas City Survey of Tenth District Manufacturing
Mfg Activity Idx (previous 22)
6-Mo Exp Prod Idx (previous 46)
Mfg Composite Idx (previous 29)
6-Mo Exp Composite Idx (previous 36)
4:30 PM ET. Federal Discount Window Borrowings
4:30 PM ET. Foreign Central Bank Holdings
Friday, September 24, 2021
10:00 AM ET. August New Residential Sales
New Home Sales (previous 708K)
New Home Sales, M/M% (previous +1.0%)
New Home Sales Months Supply (previous 6.2)
Monday, September 27, 2021
8:30 AM ET. August Advance Report on Durable Goods
Durable Goods-SA, M/M% (previous -0.1%)
Dur Goods, Ex-Defense, M/M% (previous -1.2%)
Dur Goods, Ex-Transport, M/M% (previous +0.7%)
Orders: Cap Gds, Non-Def, Ex-Air, M/M% (previous +0%)
Shipments: Cap Gds, Non-Def, Ex-Air, M/M% (previous +1.0%)
Ex-Air, M/M%
10:30 AM ET. September Texas Manufacturing Outlook Survey
Business Activity (previous 9.0)
Mfg Production Idx (previous 20.8)
Monday, September 27, 2021
8:30 AM ET. August Advance Report on Durable Goods
Durable Goods-SA, M/M% (previous -0.1%)
Dur Goods, Ex-Defense, M/M% (previous -1.2%)
Dur Goods, Ex-Transport, M/M% (previous +0.7%)
Orders: Cap Gds, Non-Def, Ex-Air, M/M% (previous +0%)
Shipments: Cap Gds, Non-Def, Ex-Air, M/M% Ex-Air, M/M% (previous +1.0%)
10:30 AM ET. September Texas Manufacturing Outlook Survey
Business Activity (previous 9.0)
Mfg Production Idx (previous 20.8)
Tuesday, September 28, 2021
7:45 AM ET. Weekly Chain Store Sales Index
8:30 AM ET. 2nd Quarter U.S. International Investment Position
8:30 AM ET. August Advance Economic Indicators Report
8:55 AM ET. Johnson Redbook Retail Sales Index
Ret Sales Mo-to-Date, M/M%
Ret Sales Mo-to-Date, Y/Y%
Latest Wk, Y/Y%
9:00 AM ET. July S&P CoreLogic Case-Shiller Indices
10-City Idx, M/M% (previous +1.8%)
10-City Idx, Y/Y% (previous +18.5%)
20-City Idx, M/M% (previous +2.0%)
20-City Idx, Y/Y% (previous +19.1%)
National Idx, M/M% (previous +2.2%)
National Idx, Y/Y% (previous +18.6%)
9:00 AM ET. July U.S. Monthly House Price Index
10:00 AM ET. September Richmond Fed Business Activity Survey
Mfg Idx (previous 9)
Shipments Idx (previous 6)
10:00 AM ET. September Consumer Confidence Index
Cons Conf Idx (previous 113.8)
Expectation Idx
Present Situation Idx (previous 147.3)
1:00 PM ET. August Money Stock Measures
4:30 PM ET. API Weekly Statistical Bulletin
Crude Stocks, Net Chg (Bbls)
Gasoline Stocks, Net Chg (Bbls)
Distillate Stocks, Net Chg (Bbls)
Wednesday, September 29, 2021
7:00 AM ET. MBA Weekly Mortgage Applications Survey
Composite Idx
Composite Idx, W/W%
Purchase Idx-SA
Purchase Idx-SA, W/W%
Refinance Idx
Refinance Idx, W/W%
10:00 AM ET. August Pending Home Sales Index
Pending Home Sales (previous 110.7)
Pending Home Sales Idx, M/M% (previous -1.8%)
Pending Home Sales Idx , Y/Y% (previous -8.5%)
10:00 AM ET. August Metropolitan Area Employment & Unemployment
10:30 AM ET. EIA Weekly Petroleum Status Report
Crude Oil Stocks (Bbl)
Crude Oil Stocks, Net Chg (Bbl)
Gasoline Stocks (Bbl)
Gasoline Stocks, Net Chg (Bbl)
Distillate Stocks (Bbl)
Distillate Stocks, Net Chg (Bbl)
Refinery Usage
Total Prod Supplied (Bbl/day)
Total Prod Supplied, Net Chg (Bbl/day)
The STOCK INDEXES? http://quotes.ino.com/ex?changes/?c=indexes
The Dow closed higher on Wednesday as it consolidates some of this week's decline.The mid-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are oversold but are turning neutral to bullish signaling that signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 34,995.92 would signal that a short-term low has been posted. If the Dow resumes the decline off August's high, June's low crossing at 33,271.93 is the next downside target. First resistance is the 50-day moving average crossing at 34,995.92. Second resistance is the August 30th high crossing at 35,510.71. First support is Monday's low crossing at 33,655.30. Second support is June's low crossing at 33,271.93.
The December NASDAQ 100 closed higher on Wednesday as it consolidated some of the decline off September's high.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 20-day moving average crossing at 15,428.80 would signal that a short-term low has been posted. If December extends the decline off September's high, August's low crossing at 14,699.00 is the next downside target. First resistance is the 50-day moving average crossing at 15,162.93. Second resistance is the 20-day moving average crossing at 15,428.80. First support is August's low crossing at 14,699.00. Second support is July's low crossing at 14,437.00.
The December S&P 500 closed higher on Wednesday as it consolidated some of this week's decline. The high-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 4464.73 would signal that a short-term low has been posted. If December resumes the decline off September's high, July's low crossing at 4214.50 is the next downside target. First resistance is the 20-day moving average crossing at 4464.73. Second resistance is the September 3rd high crossing at 4539.50. First support is July's low crossing at 4214.50. Second support is June's low crossing at 4117.00.
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December T-bonds closed up 20/32's at 164-12.
December T-bonds closed higher on Wednesday while extending the July-September 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 are neutral to bullish signaling that sideways to higher prices are possible near-term. If December renews the rally off September's low, August's high crossing at 165-12 is the next upside target. Closes below the September 7th low crossing at 161-20 would open the door for a possible test of August's low crossing at 161-01. First resistance is last-Wednesday's high crossing at 164-24. Second resistance is August's high crossing at 165-12. First support is the September 7th low crossing at 161-20. Second support is August's low crossing at 161-01.
December T-notes closed down 5-pts at 133.055.
December T-notes closed lower on Wednesday as it consolidates some of Monday's rally while extending the August-September trading range. The low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 133.144 would signal that a short-term low has been posted. Closes below last-Friday's low crossing at 132.205 would mark a downside breakout of the aforementioned trading range and would open the door for additional weakness near-term. First resistance is September's high crossing at 133.280. Second resistance is the August 17th high crossing at 134.005. Third resistance is August's high crossing at 134.265. First support is last-Friday's low crossing at 132.205. Second support is the July 14th low crossing at 132.100.
ENERGY MARKETS? http://quotes.ino.com/ex?changes/?c=energy ""
November crude oil closed higher on Wednesday. The high-range close sets the stage for a steady to higher opening when Thursday's night session begins. Stochastics and the RSI are turned neutral to bullish again signaling that sideways to higher prices are possible near-term. If November renews the rally off August's low, the July high crossing at $73.58 is the next upside target. Closes below the 50-day moving average crossing at $68.74 would confirm that a short-term top has been posted. First resistance is July's high crossing at $73.58. Second resistance is the July high on the weekly continuation chart crossing at $76.98. First support is the 50-day moving average crossing at $68.74. Second support is September's low crossing at $66.92.
November heating oil closed higher on Wednesday. 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. If November extends the rally off August's low, the October-2018 high crossing at $225.92 is the next upside target. Closes below the 50-day moving average crossing at $211.10 would signal that a short-term top has been posted. First resistance is last-Wednesday's high crossing at $222.25. Second resistance is the the October-2018 high crossing at $225.92. First support is the 20-day moving average crossing at $214.83. Second support is the 50-day moving average crossing at $211.10.
November unleaded gas closed higher on Wednesday as it consolidated some of the decline off last-Wednesday's high. The high-range close sets the stage for a steady to higher 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. Closes below the 50-day moving average crossing at $205.38 would signal that a short-term top has been posted. If November resumes the rally off August's low, the July high on the monthly continuation chart crossing at 236.96 is the next upside target. First resistance is last-Wednesday's high crossing at $217.09. Second resistance is the July highon the monthly continuation chart crossing at 236.96. First support is the 50-day moving average crossing at $205.38. Second support is September's low crossing at $202.25.
November Henry natural gas closed lower for the fifth-day in a row on Wednesday as it extended the decline off last-Wednesday'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 bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 4.826 would signal that a short-term top has been posted. Closes above the 10-day moving average crossing at 5.135 would temper the near-term bearish outlook. If November renews the rally off August's low, the 50% retracement level of the 2008-2020-decline crossing at 5.832 is the next upside target.First resistance is the 50% retracement level of the 2008-2020-decline crossing at 5.832. Second resistance is the June-2013 high on the monthly chart crossing at 6.109. First support is the 20-day moving average crossing at 4.826. Second support is the September 7th low crossing at 4.608.
CURRENCIES? http://quotes.ino.com/ex?changes/?c=currencies ""
The December Dollar closed higher on Wednesday as it extends the rally off September'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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off September's low, August's high crossing at $93.71 is the next upside target. Closes below the 20-day moving average crossing at $92.68 would signal that a short-term top has been posted. First resistance is today's high crossing at 93.52. Second resistance is August's high crossing at 93.71. First support is the 20-day moving average crossing at $92.68. Second support is last-Tuesday's low crossing at $92.29. Third support is September's low crossing at 91.94.
The December Euro closed lower on Wednesday as it extended the decline off September's high. The low-range close sets the stage for a steady to lower opening when Wednesday'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, August's low crossing at 116.90 is the next downside target. Closes above the 50-day moving average crossing at 118.16 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at 118.16. Second resistance is September's high crossing at 119.32. First support is today's low crossing at 117.03. Second support is August's low crossing at 116.90.
The December British Pound closed lower on Wednesday as it extended the decline off September's high. The low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off last-Tuesday's high, July's low crossing at 1.3576 is the next downside target. Closes above the 50-day moving average crossing at 1.3796 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at 1.3796. Second resistance is September's high crossing at 1.3917. First support is the August low crossing at 1.3608. Second support is July's low crossing at 1.3576.
The December Swiss Franc closed lower on Wednesday following a two-day bounce off Monday'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 neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 1.1900 would confirm that a short-term low has been posted. If December resumes the decline off August's high, March's low crossing at 1.0654 is the next downside target. First resistance is the 10-day moving average crossing at 1.1853. Second resistance is the 20-day moving average crossing at 1.0900. First support is the 87% retracement level of the March-June-rally crossing at 1.0730. Second support is March's low crossing at 1.0654.
The December Canadian Dollar closed higher on Wednesday as it consolidated some of the decline off September's high. The mid-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 79.26 would signal that a short-term low has been posted. If December resumes this month's decline, August's low crossing at 77.24 is the next downside target. First resistance is the 20-day moving average crossing at 78.97. Second resistance is the 50-day moving average crossing at 79.26. First support is Monday's low crossing at 77.54. Second support is August's low crossing at 77.24.
The December Japanese Yen posted a key reversal down as it closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening when Thursday’s night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes above the August high crossing at 0.092040 or below August's low crossing at 0.090390 are needed to confirm a breakout of the aforementioned trading range. First resistance is August's high crossing at 0.092040. Second resistance is May's high crossing at 0.092245. First support is August's low crossing at 0.090390. Second support is July's low crossing at 0.089690.
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December gold closed lower on Wednesday.The low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that a short-term low might be in or is near. Closes above last-Tuesday's high crossing at $1810.60 would confirm that a short-term low has been posted. If December renews this month's decline, August's low crossing at $1677.90 is the next downside target. First resistance is last-Tuesday's high crossing at $1810.60. Second resistance is September's high crossing at $1836.90. First support is Monday's low crossing at $1742.30. Second support is August's low crossing at $1677.90.
December silver closed higher on Wednesday as it consolidated some of the decline off September's high. The mid-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are oversold but are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving acreage crossing at 23.656 would signal that a short-term low has been posted. If December resumes this month's decline, the 50% retracement level of the March-August-rally crossing at 21.120 is the next downside target.First resistance is the 20-day moving average crossing at 23.656. Second resistance is the 50-day moving average crossing at 24.266. First support is Monday's low crossing at 22.025. Second support is the 50% retracement level of the March-August-rally crossing at 21.120.
December copper closed higher on Wednesday as it consolidated some of the decline off September's high. 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 oversold but are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 430.97 would signal that a short-term low has been posted. If December resumes this month's decline, August's low crossing at 396.65 is the next downside target. First resistance is September's high crossing at 447.15. Second resistance is July's high crossing at 458.60. First support is Tuesday's low crossing at 401.60. Second support is August's low crossing at 396.65.
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December Corn closed down $0.08 1/2-cents at $5.25 1/2.
December corn closed higher on Wednesday as it consolidated some of the decline off last-Thursday's high. 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 December extends the rally off September's low, the 50-day moving average crossing at $5.43 3/4 is the next upside target. If December renews the decline off August's high, the April 1st gap crossing at $4.77 1/2 is the next downside target. First resistance is the 50-day moving average crossing at $5.43 3/4. Second resistance is the August 30th high crossing at $5.58. First support is September's low crossing at $4.97 1/2. Second support is the April 1st gap crossing at $4.77 1/2.
December wheat closed up $0.15 1/2-cents at $7.05 3/4.
December wheat closed sharply higher on Wednesday.The high-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at $7.18 would signal the near-term low has been posted. If December renews the decline off August's high, the 75% retracement level of the July-August-rally crossing at $6.60 1/4 is the next downside target. First resistance isthe 50-day moving average crossing at $7.18. Second resistance is the September 7th high crossing at $7.33 1/4. First support is September'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 up $0.15 1/2-cents at $7.06.
December Kansas City wheat closed higher on Wednesday ending a three-day decline off last-Friday's high. 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. If December resumes the rally off September's low, the September 7th high crossing at $7.29 3/4 is the next upside target. If December renews 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. First resistance is the September 7th high crossing at $7.29 3/4. Second resistance is the August 27th high crossing at $7.35 1/2. 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 $0.15 3/4-cents at $9.03 1/2.
December Minneapolis wheat closed higher on Wednesday. The high-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are turning neutral to bullish again signaling that sideways to higher prices are possible near-term. If December extends the rally off September's low, the August 30th high crossing at $9.27 is the next upside target. If December renews 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. First resistance is the August 30th high crossing at $9.27. Second resistance is August's high crossing at $9.37 1/2. First support is the July 26th low crossing at $8.57. Second support is the 25% retracement level of the 2020-2021-rally crossing at $8.44 3/4.
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November soybeans closed up $0.08 3/4-cents at $12.82 3/4.
November soybeans closed higher on Wednesday. The high-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above last-Thursday's high crossing at $13.08 would signal that a short-term low has been posted. If November extends the decline off August's high, the June 25th low crossing at $12.59 3/4 is the next downside target. First resistance is last-Thursday's high crossing at $13.08. Second resistance is the 50-day moving average crossing at $13.26 1/2. First support is Tuesday's low crossing at $12.57 1/2. Second support is June's low crossing at $12.40 1/2.
December soybean meal closed unchanged at $341.80.
December soybean meal closed unchanged on Wednesday. The mid-range close sets the stage for a steady 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 $343.50 would signal that a low has been posted. If December renews 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 $343.50. Second resistance is the 50-day moving average crossing at $353.20. First support is September'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 up 106-pts. at 56.35.
December soybean oil closed higher on Wednesday. The high-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are oversold but are turning neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 57.70 are needed to confirm that a short-term low has been posted. If December extends the decline off July's high, June's low crossing at 53.10 is the next downside target. First resistance is the 20-day moving average crossing at 57.70. Second resistance is the 50-day moving average crossing at 60.36. First support is Tuesday's low crossing at 54.18. Second support is June's low crossing at $53.10.
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October hogs closed down $0.33 at $84.05.
October hogs closed lower on Wednesday as it consolidated some of the rally off last-Tuesday'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 neutral to bearish signaling that sideways to lower prices are possible near-term. If October renews this month's decline, the 62% retracement level of the 2020-2021-rally crossing at $76.13 is the next downside target. Closes above the 50-day moving average crossing at $87.90 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at $86.37. Second resistance is the 50-day moving average crossing at $87.90. First support is last-Tuesday's low crossing at $79.77. Second support is the 62% retracement level of the 2020-2021-rally crossing at $76.13.
October cattle closed up $1.00 at $123.45.
October cattle closed higher on Wednesday. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at $125.12 are needed to confirm that a short-term low has been posted. If October renews the decline off August's high, June's low crossing at $122.90 is the next downside target. First resistance is last-Tuesday's high crossing at $125.05. Second resistance is the 20-day moving average crossing at $125.12. First support is the 38% retracement level of the 2020-2021-rally crossing at $120.96. Second support is June's low crossing at $122.90.
October Feeder cattle closed up $1.08 at $157.70.
October feeder cattle closed higher on Wednesday as it extends a two-week old trading range. The high-range close sets the stage for a steady to higher opening when Thursday'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 75% retracement level of the May-August-rally crossing at $152.42 is the next downside target. Closes above the 20-day moving average crossing at $161.46 would confirm that a short-term low has been posted. First resistance is the September 14th high crossing at $158.85. Second resistance is the 20-day moving average crossing at $161.46. 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 closed higher on Wednesday as it extends the trading range of the past two-weeks. The low-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends this month's decline, August's low crossing at $174.50 is the next downside target. Closes above the 20-day moving average crossing at $189.50 would signal that a short-term low has been posted.
December cocoa closed higher on Wednesday as it consolidated some of the decline off September's high. 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. If December extends this month's decline, the 50-day moving average crossing at 25.39 is the next downside target. 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 higher 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. Closes above last-Thursday's high crossing at 19.70 would signal that a short-term low has been posted. Closes below the 50-day moving average crossing at 18.95 would open the door for a possible test of August's low crossing at 18.80.
December cotton 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 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 July 19th low crossing at 86.35 is the next downside target. Closes above the 20-day moving average crossing at 92.97 would signal that a short-term low has been posted.
Thanks tallpine!