KEY EVENTS TO WATCH FOR:
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)
Thursday, September 30, 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 (expected 320K; 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 AM ET. Bloomberg Consumer Comfort Index
9:45 AM ET. September US Flash Manufacturing PMI
PMI, Mfg (expected 61.7; previous 61.2)
9:45 AM ET. September US Flash Services PMI
PMI, Services (expected 54.9; previous 55.2)
10:00 AM ET. August Leading Indicators
Leading Index, M/M% (expected +0.7%; 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) (expected 3079B; previous 3006B)
Working Gas In Storage, Net Chg (Cbf) (expected +73B; 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 (expected 30; previous 29)
6-Mo Exp Composite Idx (previous 36)
2:00 PM ET. SEC Closed Meeting
4:30 PM ET. Federal Discount Window Borrowings
4:30 PM ET. Foreign Central Bank Holdings
Friday, October 1, 2021
8:30 AM ET. August Personal Income & Outlays
Personal Income, M/M% (previous +1.1%)
Consumer Spending, M/M% (previous +0.3%)
PCE Price Idx, M/M% (previous +0.4%)
PCE Price Idx, Y/Y% (previous +4.2%)
PCE Core Price Idx, M/M% (previous +0.3%)
PCE Core Price Idx, Y/Y% (previous +3.6%)
9:45 AM ET. September US Manufacturing PMI
PMI, Mfg (previous 61.1)
10:00 AM ET. September ISM Report On Business Manufacturing PMI
Manufacturing PMI (previous 59.9)
Prices Idx (previous 79.4)
Employment Idx (previous 49.0)
Inventories (previous 54.2)
New Orders Idx (previous 66.7)
Production Idx (previous 60.0)
10:00 AM ET. 2nd Quarter GDP by State
10:00 AM ET. August Construction Spending - Construction Put in Place
New Construction (previous +0.3%)
Residential Construction
10:00 AM ET. September University of Michigan Survey of Consumers – final
End-Mo Sentiment Idx (previous 70.3)
End-Mo Expectations Idx (previous 65.1)
12-Month Inflation Forecast (previous 4.6%)
5-Year Inflation Forecast (previous 2.9%)
End-Mo Current Idx (previous 78.5)
11:00 AM ET. September Global Manufacturing PMI
PMI, Mfg (previous 54.1)
4:00 PM ET. September Domestic Auto Industry Sales
N/A U.S. fiscal year begins
Monday, October 4, 2021
10:00 AM ET. August-September Manufacturers' Shipments, Inventories & Orders (M3)
Total Orders, M/M% (previous +0.4%)
Orders, Ex-Defense, M/M% (previous -0.1%)
Orders, Ex-Transport, M/M% (previous +0.8%)
Durable Goods, M/M%
Durable Goods, M/M%
Tuesday, October 5, 2021
7:45 AM ET. Weekly Chain Store Sales Index
8:30 AM ET. August U.S. International Trade in Goods & Services
Trade Balance (USD) (previous -70.05B)
Exports (USD) (previous 212.83B)
Exports, M/M%
Imports (USD) (previous 282.88B)
Imports, M/M%
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%
9:45 AM ET. September US Services PMI
PMI, Services (previous 55.1)
10:00 AM ET. September ISM Report On Business Services PMI
Non-Mfg Composite Idx (previous 61.7)
Non-Mfg Business Idx (previous 60.1)
Prices Idx (previous 75.4)
Employment Idx (previous 53.7)
New Orders Idx (previous 63.2)
10:00 AM ET. October IBD/TIPP Economic Optimism Index
Economic Optimism Idx (previous 48.5)
6-Mo Economic Outlook (previous 41.3)
11:00 AM ET. September Global Services PMI
PMI, Services (previous 52.9)
4:30 PM ET. API Weekly Statistical Bulletin
Crude Stocks, Net Chg (Bbls)
Gasoline Stocks, Net Chg (Bbls)
Distillate Stocks, Net Chg (Bbls)
The STOCK INDEXES? http://quotes.ino.com/ex?changes/?c=indexes
The STOCK INDEXES: The December NASDAQ 100 was sharply lower overnight following Monday's key reversal down. Overnight weakness sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If December renews the decline off September's high, August's low crossing at 14,699.00 is the next downside target. Closes above the 20-day moving average crossing at 15,388.17 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 15,388.17. Second resistance is the September 7th high crossing at 15,702.25. 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 was lower overnight as it consolidates some of the rally off last-Monday's low. Overnight weakness sets the stage for a steady to lower opening when the day session begins trading later this morning. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If December resumes this month's decline, July's low crossing at 4214.50 is the next downside target. Closes above the 20-day moving average crossing at 4452.88 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 4452.88. Second resistance is the September 3rd high crossing at 4549.50. First support is July's low crossing at 4214.50. Second support is June's low crossing at 4117.00.
INTEREST RATES http://quotes.ino.com/ex changes/?c=interest"
INTEREST RATES: December T-bonds were lower overnight as it extends the decline off last-Wednesday's high. Overnight weakness sets the stage for a steady to lower opening when the day 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 50% retracement level of the March-August rally crossing at 158-30 is the next downside target. Closes above the 50-day moving average crossing at 162-31 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at 162-31. Second resistance is September's high crossing at 164-24. First support is the 50% retracement level of the March-August rally crossing at 158-30. Second support is the 62% retracement level of the March-August rally crossing at 157-13.
December T-notes was lower overnight as it extended the decline off last-Wednesday's high. Overnight weakness sets the stage for a steady to lower opening with the day 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 last-week's decline, the 75% retracement level of the March-August rally crossing at 131.072 is the next downside target. Closes above the 20-day moving average crossing at 132.319 would temper the near-term bearish outlook. First resistance is the 10-day moving average crossing at 132.202. Second resistance is the 20-day moving average crossing at 132.319. First support is the 75% retracement level of the March-August rally crossing at 131.072. Second support is the 87% retracement level of the March-August rally crossing at 130.207.
ENERGY MARKETS? http://quotes.ino.com/ex?changes/?c=energy ""
ENERGIES:November crude oil was higher overnight as it extends the rally off August's low to its highest level in almost three-years. Overnight strength sets the stage for a steady to higher opening when the day 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 November extends the rally off August's low, long-term resistance on the monthly continuation chart crossing at $76.90 is the next upside target. Closes below the 20-day moving average crossing at $70.94 would signal that a short-term top has been posted while opening the door for additional weakness near-term. First resistance is the overnight high crossing at $76.67. Second resistance is long-term resistance on the monthly continuation chart crossing at $76.90. First support is the 20-day moving average crossing at $70.94. Second support is the 50-day moving average crossing at $69.20.
November heating oil was higher overnight as it extends the rally off August's low. The high-range overnight trade sets the stage for a steady to higher opening when the day 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 November extends the rally off August's low, the 50% retracement level of the 2008-2020-decline on the monthly continuation chart crossing at $2.3697 is the next upside target. Closes below the 20-day moving average crossing at $2.1827 would signal that a short-term top has been posted. First resistance is the overnight high crossing at $2.3258. Second resistance is the 50% retracement level of the 2008-2020-decline on the monthly continuation chart crossing at $2.3697. First support is the 10-day moving average crossing at $2.2268. Second support is the 20-day moving average crossing at 2.1827.
November unleaded gas was higher overnight as it extends this year's rally. Overnight strength sets the stage for a steady to higher opening when the day 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 November extends the rally off August's low, the 62% retracement level of the 2008-2020-decline on the monthly continuation chart crossing at 236.96 is the next upside target. Closes below the 50-day moving average crossing at 2.0629 would signal that a short-term top has been posted while opening the door for additional weakness near-term. First resistance is the overnight high crossing at 2.1923. Second resistance is the July high on the monthly continuation chart crossing at 236.96. First support is the 50-day moving average crossing at 2.0629. Second support is September's low crossing at 2.0225.
November Henry natural gas was higher overnight as it extends the rally off last-Tuesday's low. Overnight strength pushed natural gas prices to their highest levels since February-2014 and sets the stage for a higher opening when the day session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If November extends the aforementioned rally, the 62% retracement level of the 2008-2020-decline crossing at 6.671 is the next upside target. Closes below the 20-day moving average crossing at 5.088 would signal that a short-term top has been posted. First resistance is the overnight high crossing at 6.318. Second resistance is the 62% retracement level of the 2008-2020-decline crossing at 6.671. First support is last-Tuesday's low crossing at 4.766. Second support is the September 7th low crossing at 4.608.
CURRENCIEShttp://quotes.ino.com/ex changes/?c=currencies"
CURRENCIES:The December Dollar was higher overnight as it extends the rally off September's low. 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 50-day moving average crossing at $92.75 would signal that a short-term top has been posted. First resistance is the overnight high crossing at $93.68. Second resistance is August's high crossing at $93.71. First support is the 50-day moving average crossing at $92.75. Second support is the September 14th low crossing at $92.29.
The December Euro was lower overnight as it extends this month's decline.The low-range overnight trade sets the stage for a steady to lower opening when the day 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 September's high, the 50% retracement level of the 2020-2021-rally crossing at $116.41 is the next downside target. Closes above the 50-day moving average crossing at $118.07 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at $118.07. Second resistance is September's high crossing at $119.32. First support is the overnight low crossing at $116.88. Second support is the 50% retracement level of the 2020-2021-rally crossing at $116.41.
The December British Pound was lower overnight as it extends this month's decline. Overnight weakness sets the stage for a steady to lower opening when the day session beings trading. Stochastics and the RSI are turning neutral to bearish again signaling that sideways to lower prices are possible near-term. If December extends this month's decline, July's low crossing at 1.3576 is the next downside target. Closes above the 50-day moving average crossing at 1.3788 would signal that a short-term low has been posted.First resistance is the 50-day moving average crossing at 1.3788. Second resistance is September's high crossing at 1.3917. First support is the overnight low crossing at 1.3595. Second support is July's low crossing at 1.3576.
The December Swiss Franc was lower overnight as it consolidates some of the rally off last-Monday's low. Overnight weakness sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices possible near-term. Closes above the 20-day moving average crossing at 1.0873 would signal that a short-term low has been posted. If December resumes this month's decline, March's low crossing at 1.0654 is the next downside target. First resistance is the 20-day moving average crossing at 1.0873. Second resistance is the 50-day moving average crossing at 1.0931. 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 was lower overnight as it consolidates some of the rally off September's low. Overnight weakness sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at $79.25 would signal that a short-term low has been posted. Closes below the 10-day moving average crossing at $78.70 would temper the near-term friendly outlook. First resistance is the 50-day moving average crossing at $79.25. Second resistance is September's high crossing at 80.09. First support is September's low crossing at $77.54. Second support is August's low crossing at $77.24.
The December Japanese Yen was lower overnight as it extends the decline off last-Wednesday's high. Overnight weakness sets the stage for a steady to lower opening when the day 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, July's low crossing at 0.089690 is the next downside target. First resistance is the 50-day moving average crossing at 0.091041. Second resistance is the September 15th high crossing at 0.091715. First support is the overnight low crossing at 0.089755. Second support is July's low crossing at 0.089690.
PRECIOUS METALS http://quotes.ino.com/ex changes/?c=metals"
PRECIOUS METALS:Decembergold was lower overnight as it extends the decline off September's high. Overnight weakness sets the stage for a steady to lower opening when the day 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 resumes the decline off September's high, August's low crossing at $1677.90 is the next downside target. Closes above the 50-day moving average crossing at $1790.10 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at $1790.10. Second resistance is the September 3rd high crossing at $1836.90. First support is the overnight low crossing at $1731.50. Second support is August's low crossing at $1677.90.
December silver was lower overnight as it extends last-week's trading range. Overnight weakness sets the stage for a steady to lower opening when the day session begins trading later this morning. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If December resumes this month's decline, the 50% retracement level of the 2020-2021-rally crossing at $21.120 is the next downside target. Closes above last-Wednesday's high crossing at $23.150 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at $23.391. Second resistance is the 50-day moving average crossing at $23.995. First support is last-Monday's low crossing at $22.025. Second support is the 50% retracement level of the 2020-2021-rally crossing at $21.120.
December copper was lower overnight as it consolidates some of rally off last-Tuesday's low. The low-range overnight trade sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are neutral to bullish signaling that a low might be in or is near. Closes above the 50-day moving average crossing at 4.3093 would signal that a short-term low has been posted. If December resumes this month's decline, August's low crossing at 3.9615 is the next downside target. First resistance is the 50-day moving average crossing at 4.3093. Second resistance is September's high crossing at 4.4715. First support is last-Tuesday's low crossing at 4.0160. Second support is August's low crossing at 3.9615.
GRAINS http://quotes.ino.com/ex changes/?c=grains
December corn was steady to fractionally lower overnight.The high-range trade overnight sets the stage for a steady to higher opening when the day sessions 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, the 50-day moving average crossing at $5.42 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 $5.42. 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 was higher overnight as it extends the rally off September's low. Overnight strength sets the stage for a steady to higher opening when the day 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, September's high crossing at $7.33 1/4 is the next upside target. Closes below the 20-day moving average crossing at $7.09 3/4 would temper the near-term friendly outlook. If December resumes 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 is the September 7th high crossing at $7.33 1/4. Second resistance is the August 27th high crossing at $7.45. First support is the 62% retracement level of the July-August-rally crossing at $6.82 1/2. Second support is the 75% retracement level of the July-August rally crossing at $6.60 1/4.
December Kansas City wheat was higher overnight. Overnight strength sets the stage for a steady to higher opening when the day 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 renews the rally off September's low, the September 7th high crossing at $7.29 3/4 is the next upside target. Closes below last-Tuesday's low crossing at $6.86 1/4 would signal that a short-term top has been posted. 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 September's low crossing at $6.70 1/4. Second support is the 62% retracement level of the July-August rally crossing at $6.58 1/2.
December Minneapolis wheat was steady to higher overnight while extending that July-September trading range. Overnight strength sets the stage for a steady to higher opening when the day 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 $9.37 1/2 is the next upside target. Closes below last-Tuesday's low crossing at $8.81 3/4 would signal that a short-term top has been posted while opening the door for additional weakness near-term. 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 last-Tuesday's low crossing at $8.81 3/4. Second support is September's low crossing at $8.61 1/2. Third 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 were lower overnight as it extends this month's trading range. Overnight weakness set the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the September 16th high crossing at $13.08 would signal that a short-term low has been posted while opening the door for a possible test of the 50-day moving average crossing at $13.18 3/4. If November resumes the decline off August's high, June's low crossing at $12.40 1/2 is the next downside target. First resistance is the 16th high crossing at $13.08. Second resistance is the 50-day moving average crossing at $13.18 3/4. First support is last-Tuesday's low crossing at $12.57 1/2. Second support is June's low crossing at $12.40 1/2.
December soybean meal was steady to slightly lower overnight as it extends this month's trading range. Overnight strength sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If December resumes the decline off August's high, the 75% retracement level of the 2020-2021-rally crossing at $324.40 is the next downside target. Closes above the September 14th high crossing at $347.30 would signal that a short-term low has been posted while opening the door for additional gains near-term. First resistance is the September 14th high crossing at $347.30. Second resistance is the 50-day moving average crossing at $351.10. First support is September's low crossing at $335.40. Second support is the 75% retracement level of the 2020-2021-rally crossing at $324.40.
December soybean oil was lower overnight as it consolidates some of the rally off September's low. Overnight weakness sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are neutral to bullish signaling sideways to higher prices are possible near-term. Closes above the September 16th high crossing at 58.75 would signal that a short-term low has been posted. If December renews the decline off July's high, June's low crossing at 51.98 is the next downside target. First resistance is the September 16th high crossing at 58.75. Second resistance is the 50-day moving average crossing at 59.84. First support is September's low crossing at 54.18. Second support is June's low crossing at 51.98.
LIVESTOCKhttp://quotes.ino.com/exchanges/?c=livestock
December hogs closed up $4.75 at $81.55.
December hogs gapped up and closed sharply higher and above the 50-day moving average crossing at $80.33 on Monday confirming that an important low has been posted. 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 December extends the rally off September's low, the August 30th high crossing at $83.60 is the next upside target. Closes below Monday's gap crossing at $77.20 would signal that a short-term top has been posted. First resistance is the August 30th high crossing at $83.60. Second resistance is August's high crossing at $84.38. First support is Monday's gap crossing at $77.20. Second support is the 10-day moving average crossing at $75.00. Second support is September's low crossing at $71.27.
December cattle closed down $0.35 at $127.80.
December cattle closed lower on Monday 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 Tuesday. 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 $129.57 are needed to confirm that a short-term low has been posted. If December renews the decline off August's high, June's low crossing at $124.35 is the next downside target. First resistance is the 20-day moving average crossing at $129.57. Second resistance is the 50-day moving average crossing at $132.02. First support is the 38% retracement level of the 2020-2021-rally crossing at $126.38. Second support is June's low crossing at $124.35.
November Feeder cattle closed down $3.00 at $155.58.
November feeder cattle closed sharply lower on Monday ending the rally off last-Tuesday's low. The low-range close sets the stage for a steady to lower opening when Tuesday's session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to higher prices are possible near-term. If November extends the decline off August's high, the 75% retracement level of the May-August-rally crossing at $154.10 is the next downside target. Closes above the 20-day moving average crossing at $161.01 would confirm that a short-term low has been posted. First resistance is last-Thursday's high crossing at $159.73. Second resistance is the 20-day moving average crossing at $161.01. First support is the 75% retracement level of the May-August-rally crossing at $154.10. Second support is June's low crossing at $151.38.
FOOD & FIBERhttp://quotes.ino.com/ex changes/?c=food
December coffee closed higher on Friday as it extended the rally off Monday's low. Today's close above the 20-day moving average crossing at $190.03 signals that a short-term low has been posted. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends this week's rally, the August 31st high crossing at $201.55 is the next upside target. If December renews the decline off August's high, August's low crossing at $174.50 is the next downside target.
December cocoa closed lower on Friday. The mid-range close sets the stage for a steady to lower opening on Monday. 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 25.46 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 lower on Friday. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are 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 19.04 would open the door for a possible test of August's low crossing at 18.80.
December cotton closed sharply higher on Friday as it extended the rally off Monday's low. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends this week's rally, August's high crossing at 96.71 is the next upside target. Closes below the 50-day moving average crossing at 92.06 would signal that a short-term top has been posted.
Thanks tallpine!!