INO Evening Market Comments
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Started by tallpine - Oct. 1, 2021, 6:57 p.m.

KEY EVENTS TO WATCH FOR:



 

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%

 



 

 

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)

 



 

 

Wednesday, October 6, 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%

 



 

 

8:15 AM ET. September ADP National Employment Report

 



 

 

                       Private Sector Jobs, Net Chg (previous +374000)

 



 

 

9:00 AM ET. IMF World Economic Outlook analytical chapter 2 published

 



 

 

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, (Bbl/day) Net Chg

 

                        

 

11:00 AM ET. IMF World Economic Outlook analytical chapter 3 published


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



The Dow closed higher on Friday as it consolidated some of this week's sharp decline. 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 poised to turn neutral to bullish signaling that signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 34,967.32 would signal that a short-term low has been posted. If the Dow extends this week's decline, September's low crossing at 33,613.03 is the next downside target. First resistance is the 50-day moving average crossing at 34,967.32. Second resistance is the August 30th high crossing at 35,510.71. First support is September's low crossing at 33,613.03. Second support is June's low crossing at 33,271.93.  



The December NASDAQ 100 posted an upside reversal on Friday signaling a possible low might have been posted with today'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 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 25% retracement level of the 2020-2021-rally crossing at 14,474.38 is the next downside target. Closes above the 20-day moving average crossing at 15,251.05 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 15,251.05. Second resistance is September's high crossing at 15,702.25. First support is the 25% retracement level of the 2020-2021-rally crossing at 14,474.38. Second support is July's low crossing at 14,437.00.



The December S&P 500 posted an upside reversal with Friday's higher closed 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 Monday's night session begins trading. Stochastics and the RSI are poised to turn neutral to bullish with additional gains that would signal a low has likely been posted. Closes above the 50-day moving average crossing at 4429.85 would signal that a short-term low has been posted. If December extends the decline off September's high, July's low crossing at 4214.50 is the next downside target. First resistance is the 50-day moving average crossing at 4429.85. Second resistance is the September 3rd high crossing at 4539.50. First support is today's low crossing at 4260.00. Second support is July's low crossing at 4214.50.    



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



December T-bonds closed up 1-07/32's at 160-14 

  

December T-bonds closed higher on Friday as it consolidates some of the decline off September'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 December extends the decline off September's high, the 62% retracement level of the March-August rally crossing at 157-13 is the next downside target. Closes above the 20-day moving average crossing at 162-06 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at 161-10. Second resistance is the 20-day moving average crossing at 162-06. First support is Wednesday's low crossing at 159-22. Second support is the 62% retracement level of the March-August rally crossing at 157-13.  



December T-notes closed up 190-pts at 132.065.



December T-notes closed higher on Friday as it consolidated 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 turning neutral to bullish signaling sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 132.238 would signal that a short-term low has been posted. If December extends the aforementioned decline, the 87% retracement level of the March-August rally crossing at 130.207 is the next downside target. First resistance is the 20-day moving average crossing at 132.238. Second resistance is the 50-day moving average crossing at 133.070. First support is the 75% retracement level of the March-August rally crossing at 131.125. 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 ""



November crude oil 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 Friday'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 November extends the rally off August's low, the July high on the weekly continuation chart crossing at $76.98 is the next upside target. Closes below the 50-day moving average crossing at $69.60 would confirm that a short-term top has been posted. First resistance is Tuesday's high crossing at $76.67. Second resistance is the July high on the weekly continuation chart crossing at $76.98. First support is the 20-day moving average crossing at $71.85. Second support is the 50-day moving average crossing at $69.60. 



November heating oil 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 Monday'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 November extends the rally off August's low, the October-2018 high on the monthly continuation chart crossing at $245.00 is the next upside target. Closes below the 20-day moving average crossing at $221.20 would signal that a short-term top has been posted. First resistance is today's high crossing at $238.71. Second resistance is the October-2018 on the monthly continuation chart crossing at $245.00. First support is the 20-day moving average crossing at $221.20. Second support is the 50-day moving average crossing at $214.17.      



November unleaded gas 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 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 November extends the rally off August's low, the 62% retracement level of the 2008-2020-decline on the monthly continuation chart crossing at 238.83 is the next upside target. Closes below the  20-day moving average crossing at $211.81 would signal that a short-term top has been posted. First resistance is today's high crossing at $225.54. Second resistance is the 62% retracement level of the 2008-2020-declineon the monthly continuation chart crossing at 238.83. First support is the 20-day moving average crossing at $211.81. Second support is the 50-day moving average crossing at $207.43.    



November Henry natural gas closed sharply lower on Friday as it consolidated some of Thursday'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 turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 5.223 would confirm that a short-term top has been posted. If November extends this year's rally, the 50% retracement level of the 2008-2020-decline crossing at 5.832 is the next upside target. First resistance is September's high crossing at 5.695. Second resistance is the 50% retracement level of the 2008-2020-decline crossing at 5.832. Third resistance is the June-2013 high on the monthly chart crossing at 6.109. First support is the September 21st low crossing at 4.776. Second support is the September 7th low crossing at 4.608.  



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



The December Dollar closed lower on Friday as it consolidated some of September'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 December extends the rally off September's low, the 38% retracement level of the 2020-2021-decline crossing at $94.82 is the next upside target. Closes below the 20-day moving average crossing at $93.11 would signal that a short-term top has been posted. First resistance is Thursday's high crossing at 94.52. Second resistance is the 38% retracement level of the 2020-2021-decline crossing at $94.82. First support is the 10-day moving average crossing at $93.61. Second support is the 20-day moving average crossing at $93.11.   



The December Euro closed higher on Friday as it consolidated some of this week's decline. The high-range close sets the stage for a steady to higher opening when Friday'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 62% retracement level of the 2020-2021-rally crossing at 114.56 is the next downside target. Closes above the 20-day moving average crossing at 117.63 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at 116.94. Second resistance is the 20-day moving average crossing at 117.63. First support is today's low crossing at 115.78. Second support is the 62% retracement level of the 2020-2021-rally crossing at 114.56.



The December British Pound closed sharply higher on Friday as it consolidated some of this month's decline. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are oversold and remain neutral to bearish signaling that sideways to lower prices are still possible. If December extends the decline off September's high, the 38% retracement level of the 2020-2021-rally crossing at 1.3223 is the next downside target. Closes above the 20-day moving average crossing at 1.3709 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at 1.3603. Second resistance is the 20-day moving average crossing at 1.3709. First support is Wednesday's low crossing at 1.3412. Second support is the 38% retracement level of the 2020-2021-rally crossing at 1.3223. 

 

The December Swiss Franc closed higher on Friday as it consolidated some of this week's losses. The mid-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are diverging and turning neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 1.0839 would confirm that a short-term low has been posted. If December extends the decline off August's high, March's low crossing at 1.0654 is the next downside target. First resistance is the 20-day moving average crossing at 1.1839. Second resistance is the 50-day moving average crossing at 1.0920. 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 Friday. The high-range close sets the stage for a steady to higher opening when Friday'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 50-day moving average crossing at 79.22 would confirm that a short-term low has been posted. If December resumes the decline off September's high, August's low crossing at 77.24 is the next downside target. First resistance is the 50-day moving average crossing at 79.22. 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 closed higher on Friday 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 Monday’s night session begins trading. Stochastics and the RSI are oversold and are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 0.090965 would temper the near-term bearish outlook. If December extends September's decline, the February-2020 low on the monthly continuation chart crossing at 0.089205 is the next downside target. First resistance is the 10-day moving average crossing at 0.090427. Second resistance is the 20-day moving average crossing at 0.090765. First support is Thursday's low crossing at 0.089260. Second support is the February-2020 low on the monthly continuation chart crossing at 0.089205.  



PRECIOUS METALS? http://quotes.ino.com/ex?changes/?c=metals ""



December gold closed higher on Friday.The mid-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. Closes above the 50-day moving average crossing at $1786.30 would confirm that a short-term low has been posted. If December extends the decline off September's high, August's low crossing at $1677.90 is the next downside target. First resistance is the 20-day moving average crossing at $1773.30. Second resistance is the 50-day moving average crossing at $1786.30. First support is Wednesday's low crossing at $1721.10. Second support is August's low crossing at $1677.90.



December silver 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving acreage crossing at 23.099 would signal that a short-term low has been posted. If December resumes the decline off May's high, the 50% retracement level of the 2020-March-August-rally crossing at 21.120 is the next downside target. First resistance is the 20-day moving average crossing at 23.099. Second resistance is the 50-day moving average crossing at 24.805. First support is Wednesday's low crossing at 21.410. Second support is the 50% retracement level of the March-August-rally crossing at 21.120.   



December copper 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 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 396.65 is the next downside target. Closes above the 50-day moving average crossing at 430.15 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at 430.15. Second resistance is September's high crossing at 447.15. First support is September's low crossing at 401.60. Second support is August's low crossing at 396.65.  



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



December Corn closed up $0.05 1/4-cents at $5.42. 



December corn closed higher on Friday as it extends the rally off September'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 neutral to bullish signaling that sideways to higher prices are possible near-term. Multiple closes above the 50-day moving average crossing at $5.40 1/4 would open the door for additional gains near-term. Closes below the 20-day moving average crossing at $5.25 1/4 would signal that a short-term top has been posted. First resistance is the 50-day moving average crossing at $5.40 1/4. Second resistance is the August 30th high crossing at $5.58. First support is last-Tuesday's low crossing at $5.12 1/4. Second support is September's low crossing at $4.97 1/2.    



December wheat closed up $0.32 1/4-cents at $7.57 3/4.  



December wheat closed sharply higher on Friday as it extended the rally off September'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 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 $7.86 1/2 is the next upside target. Closes below Thursday's low crossing at $7.01 1/4 would signal that a short-term top has been posted. First resistance is today's high crossing at $7.58 1/2. Second resistance is the August high crossing at $7.86 1/2. First support is Thursday's low crossing at $7.01 1/4. Second support is the   September 21st low crossing at $6.86.



December Kansas City Wheat closed up $0.29 3/4-cents at $7.61 1/2.

 

December Kansas City wheat closed sharply 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 becoming overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December resumes the rally off September's low, August's high crossing at $7.69 is the next upside target. Closes below Thursday's low crossing at $7.03 1/2 would signal that a short-term top has been posted. First resistance is today's high crossing at $7.61 3/4. Second resistance is August's high crossing at $7.69. First support is Thursday's low crossing at $7.03 1/2. Second support is the September 21st low crossing at $6.86 1/4.



December Minneapolis wheat closed up $0.16 1/2-cents at $9.29. 



December Minneapolis wheat closed higher on Friday as it extended the rally off September'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 remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off September's low, the August high crossing at $9.37 1/2 is the next upside target. Closes below Wednesday's low crossing at $9.01 1/2 would signal that a short-term top has been posted. First resistance is today's high crossing at $9.35. 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. 

       

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



November soybeans closed down $0.08 1/2-cents at $12.47 3/4.



November soybeans closed lower on Friday as it extends the decline off June's high. 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 November renews the decline off August's high, June's low crossing at $12.40 1/2 is the next downside target. Closes above the September 27th high crossing at $12.97 would confirm that a short-term low has been posted. First resistance is the September 27th high crossing at $12.97. Second resistance is the September 16th high crossing at $13.08. First support is today's low crossing at $12.42. Second support is June's low crossing at $12.40 1/2.



December soybean meal closed down $2.00 at $326.70. 



December soybean meal 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 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 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 September 14th high crossing at $347.30 would signal that a low has been posted. First resistance is the September 14th high crossing at $347.30. Second resistance is the 50-day moving average crossing at $348.80. First support is today's low crossing at $326.50. Second support is the 75% retracement level of the 2020-2021 rally crossing at $324.00.      



December soybean oil closed up 23-pts. at 58.92. 



December soybean oil closed higher on Friday as it extends the rally off September'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 neutral to bullish signaling that a low might be in or is near. Closes above the 50-day moving average crossing at 59.57 would open the door for additional short-term gains. If December renews the decline off July's high, June's low crossing at 53.10 is the next downside target. First resistance is the 50-day moving average crossing at 59.57. Second resistance is the August 16th high crossing at 64.00. First support is September's low crossing at 54.18. Second support is June's low crossing at 53.10. 

 

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



December hogs closed down $0.10 at $85.30. 



December hogs posted an inside day with a lower close on Friday as it consolidated some of its rally off September's low. 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. If December extends the rally off September's low the July high crossing at $86.25 is the next upside target. Closes below the 20-day moving average crossing at $78.00 would signal that a short-term top has been posted. First resistance is July's high crossing at $86.25. Second resistance is June's high crossing at $89.55. First support is Thursday's gap crossing at $84.00. Second support is the 50-day moving average crossing at $80.32. 



December cattle closed down $0.50 at $125.22. 



December cattle closed lower on Friday as it extends the decline off September's high. The low-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 higher prices are possible near-term. If December renews the decline off September's high, June's low crossing at $124.35 is the next downside target. Closes above the 20-day moving average crossing at $128.15 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at $128.15. Second resistance is the 50-day moving average crossing at $131.34. First support is today's low crossing at $125.00. Second support is June's low crossing at $124.35.



November Feeder cattle closed down $0.08 at $152.82. 



November feeder cattle 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 when Monday's session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If November extends the decline off August's high, the 87% retracement level of the May-August-rally crossing at $151.04 is the next downside target. Closes above the 20-day moving average crossing at $158.00 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at $158.00. Second resistance is the 50-day moving average crossing at $163.86. First support is Thursday's low crossing at $152.00. Second support is the 87% retracement level of the May-August-rally crossing at $151.04.  



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



December coffee closed sharply higher on Friday as it extended the rally off September'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 last-week's rally, July's high crossing at $217.86 is the next upside target. Closes below the 50-day moving average crossing at $189.07 would signal that a short-term top has been posted. 



December cocoa closed sharply higher on Friday and posted a new contract high. 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 today's rally, the November-2020 high on the weekly continuation chart crossing at 28.21 is the next upside target.  Closes below Tuesday's low crossing at 25.37 would confirm that a top has been posted.                            



October sugar closed sharply higher on Friday. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If October extends today's rally, August's high crossing at 20.37 is the next upside target. Closes below Wednesday's low crossing at 18.49 would confirm that a top has been posted.      



December cotton closed lower on Friday ending an eight-day rally off September's low. 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. If December extends the aforementioned rally, the 38% retracement level of the 2011-2020 decline crossing at 113.93 is the next upside target. Closes below the 50-day moving average crossing at 93.39 would signal that a short-term top has been posted. 

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By metmike - Oct. 3, 2021, 12:47 p.m.
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Thanks much tallpine!