INO Morning Market Commentary
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Started by tallpine - Oct. 4, 2021, 8:09 a.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%

 



 

 

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

 



 

 

Thursday, October 7, 2021  

 



 

 

7:30 AM ET. September Challenger Job-Cut Report

 



 

 

                       Job Cuts, M/M% (previous -16.99%)

 



 

 

8:30 AM ET. U.S. Weekly Export Sales

 



 

 

                       Corn (Metric Tons) (previous 370.4K)

 

                       Soybeans (Metric Tons) (previous 1101.7K)

 

                       Wheat (Metric Tons) (previous 290.1K)

 



 

 

8:30 AM ET. Unemployment Insurance Weekly Claims Report - Initial Claims

 



 

 

                       Jobless Claims (previous 362K)

 

                       Jobless Claims, Net Chg (previous +11K)

 

                       Continuing Claims (previous 2802000)

 

                       Continuing Claims, Net Chg (previous -18K)

 

9:00 AM ET. IMF Fiscal Monitor analytical chapter released

 



 

 

9:45 AM ET. Bloomberg Consumer Comfort Index

 



 

 

10:30 AM ET. EIA Weekly Natural Gas Storage Report

 



 

 

                       Working Gas In Storage (Cbf) (previous 3170B)

 

                       Working Gas In Storage, Net Chg (Cbf) (previous +88B)

 

                        

 

12:00 PM ET. September Monthly U.S. Retail Chain Store Sales Index

 



 

 

3:00 PM ET. August Consumer Credit

 



 

 

                       Consumer Credit Net Chg (USD) (previous +17.0B)

 



 

 

4:30 PM ET. Foreign Central Bank Holdings

 



 

 

4:30 PM ET. Federal Discount Window Borrowings

 



 

 

Friday, October 8, 2021   

 



 

 

8:30 AM ET. September U.S. Employment Report

 



 

 

                       Non-Farm Payrolls (previous +235K)

 

                       Unemployment Rate (previous 5.2%)

 

                       Avg Hourly Earnings (USD) (previous 30.73)

 

                       Avg Hourly Earnings-Net Chg (USD) (previous +0.17)

 

                       Avg Hourly Earnings, M/M% (previous +0.56%)

 

                       Avg Hourly Earnings, Y/Y% (previous +4.28%)

 

                       Overall Workweek (previous 34.7)

 

                       Overall Workweek Net Chg (previous +0)

 

                       Government Payrolls (previous -8K)

 

                       Private Payroll (previous +243K)

 

                       Participation Rate (previous 61.7%)

 

                      Non-Farm Payrolls Bench Net Chg

 



 

 

10:00 AM ET. August Monthly Wholesale Trade

 



 

 

                       Inventories, M/M% (previous +0.6%)

 



 

 

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

 



 

The STOCK INDEXES: The December NASDAQ 100 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 remains 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 of the 2020-2021-rally crossing at 14,474.38 is the next downside target. Closes above the 20-day moving average crossing at 15,202.71 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 15,202.71. Second resistance is the September 27th high crossing at 15,399.25. First support is the 25% retracement 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 was lower overnight as it consolidates some of last-Friday's rally. 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 extends the decline off September's high, July's low crossing at 4214.50 is the next downside target. Closes above the 50-day moving average crossing at 4428.38 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at 4428.38. Second resistance is the September 27th high crossing at 4472.00. First support is July's low crossing at 4214.50. Second support is the 25% retracement level of the 2020-2021-rally crossing at 42101.63.



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



INTEREST RATES: December T-bonds were lower overnight. 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 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 162-01 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at 160-29. Second resistance is the 20-day moving average crossing at 162-01. 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 were lower overnight as is consolidates some of the rally off September's low. Overnight weakness sets the stage for a steady to lower opening with the day 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 132.214 would temper the near-term bearish outlook. If December resumes the decline off August's, the 87% retracement level of the March-August rally crossing at 130.207 is the next downside target. First resistance is the 10-day moving average crossing at 132.033. Second resistance is the 20-day moving average crossing at 132.214. 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 steady to slightly 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. Closes below the 20-day moving average crossing at $72.20 would signal that a short-term top has been posted while opening the door for additional weakness near-term. If November extends the rally off August's low, psychological resistance on the monthly continuation chart crossing at $80.00 is the next upside target. First resistance is last-Tuesday's high crossing at $76.67. Second resistance is psychological resistance on the monthly continuation chart crossing at $80.00. First support is the 20-day moving average crossing at $72.20. Second support is the 50-day moving average crossing at $69.71.



November heating oil was steady to slightly 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 October-2018 high on the monthly continuation chart crossing at $2.4500 is the next upside target. Closes below the 20-day moving average crossing at $2.2239 would signal that a short-term top has been posted. First resistance is the overnight high crossing at $2.3896. Second resistance is the October-2018 high on the monthly continuation chart crossing at $2.4500. First support is the 10-day moving average crossing at $2.2882. Second support is the 20-day moving average crossing at 2.2239.  



November unleaded gas was steady to slightly lower overnight. However, the high-range trade overnight 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 2.0779 would signal that a short-term top has been posted. First resistance is last-Friday's high crossing at 2.2554. Second resistance is the July high on the monthly continuation chart crossing at 236.96. First support is the 10-day moving average crossing at 2.1594. Second support is the 20-day moving average crossing at 2.1265.



November Henry natural gas 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 neutral signaling that sideways to higher prices are possible near-term. Closes below the 20-day moving average crossing at 5.276 would signal that a short-term top has been posted. If November extends this year's rally, the 62% retracement level of the 2008-2020-decline crossing at 6.671 is the next upside target. First resistance is last-Tuesday's high crossing at 6.318. Second resistance is the 62% retracement level of the 2008-2020-decline crossing at 6.671. First support is the 20-day moving average crossing at 5.276. Second support is the September 21st low crossing at 4.766.    



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



CURRENCIES:The December Dollar was lower overnight as it consolidates some of the rally off September's low. Stochastics and the RSI are overbought and are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at $93.20 would signal that a short-term top has been posted. If December extends the rally off September's low, the 38% retracement level of the 2020-2021-decline on the weekly continuation chart crossing at $94.82 is the next upside target. First resistance is last-Thursday's high crossing at $94.52. Second resistance is the 38% retracement level of the 2020-2021-decline on the weekly continuation chart crossing at $94.82. First support is the 10-day moving average crossing at $93.67. Second support is the 20-day moving average crossing at $93.20.  



The December Euro was higher overnight as it consolidates some of the decline off September's high. 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 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 2020-2021-rally crossing at $114.56 is the next downside target. Closes above the 20-day moving average crossing at $117.50 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $116.84. Second resistance is the 20-day moving average crossing at $117.50. First support is last-Friday'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 was higher overnight as it extends the rally off last-Wednesday's low. Overnight strength sets the stage for a steady to higher opening when the day session beings 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 1.3695 would signal that a short-term low has been posted.If December renews the decline off September's high, the 38% retracement level of the 2020-2021-rally crossing at 1.3223 is the next downside target. First resistance is the 10-day moving average crossing at 1.3598. Second resistance is the 20-day moving average crossing at 1.3695. First support is last-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 was higher overnight as it consolidates some of the decline off August's high. Overnight strength sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices possible near-term. Closes above the 20-day moving average crossing at 1.0831 would signal that a short-term low has been posted. If December extends the aforementioned decline, March's low crossing at 1.0654 is the next downside target. First resistance is the 20-day moving average crossing at 1.0831. Second resistance is the 50-day moving average crossing at 1.0918. First support is last-Thursday's low crossing at 1.0693. Second support is March's low crossing at 1.0654. 

 

The December Canadian Dollar was steady to higher overnight. Overnight strength sets the stage for a steady to 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. Closes above the 50-day moving average crossing at $79.21 would signal that a short-term low has been posted while opening the door for additional gains. Closes below last-Wednesday's low crossing at $78.27 would confirm that a short-term top has been posted. First resistance is the 50-day moving average crossing at $79.21. 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 consolidates some of 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 0.090953 would signal that a short-term low has been posted. If December renews the aforementioned decline, the February-2020 low on the weekly continuation chart crossing at 0.089205 is the next downside target. First resistance is the 10-day moving average crossing at 0.090273. Second resistance is the 20-day moving average crossing at 0.090698. First support is last-Thursday's low crossing at 0.089260. Second support is the February-2020 low on the weekly continuation chart crossing at 0.089205.

 

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



PRECIOUS METALS:Decembergold was lower overnight as it consolidates some of the rally off last-Wednesday'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 bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at $1785.20 would signal that a short-term low has been posted. If December renews 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 $1769.40. Second resistance is the 50-day moving average crossing at $1785.20. First support is last-Wednesday's low crossing at $1721.10. Second support is August's low crossing at $1677.90.



December silver was steady to slightly lower overnight. 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 bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at $22.974 would signal that a short-term low has been posted. If December renews the decline off September's high, the 50% retracement level of the 2020-2021-rally crossing at $21.120 is the next downside target. First resistance is the 20-day moving average crossing at $22.974. Second resistance is the 50-day moving average crossing at $23.746. First support is last-Wednesday's low crossing at $21.410. Second support is the 50% retracement level of the 2020-2021-rally crossing at $21.120. 



December copper was higher overnight as it extends the rebound off last-Thursday'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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 4.2987 would signal that a short-term low has been posted. If December renews last-week's decline, September's low crossing at 4.0160 is the next downside target. First resistance is the 50-day moving average crossing at 4.2987. Second resistance is September's high crossing at 4.4715. First support is September'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 signaling that sideways to higher prices are possible near-term. Closes above last-Thursday's high crossing at $5.48 1/2 would open the door for a possible test of the August 30th high crossing at $5.58. Closes below the 20-day moving average crossing at $5.26 would temper the near-term friendly outlook. First resistance is last-Thursday's high crossing at $5.48 1/2. Second resistance is the August 30th high crossing at $5.58. First support is the September 21st low crossing at $5.12 3/4. Second support is September's low crossing at $4.97 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 overnight 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 $7.86 1/2 is the next upside target. Closes below last-Thursday's low crossing at $7.01 1/4 would signal that a short-term top has been posted. First resistance is the overnight high crossing at $7.59. Second resistance is August's high crossing at $7.86 1/2. First support is last-Thursday's low crossing at $7.01 1/4. Second support is the 62% retracement level of the July-August-rally crossing at $6.82 1/2. 



December Kansas City wheat was slightly low overnight as it consolidates some of the rally off September'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 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 $7.69 is the next upside target. Closes below last-Thursday's low crossing at $7.03 1/2 would signal that a short-term top has been posted. First resistance is last-Friday's high crossing at $7.61 3/4. Second resistance is August's high crossing at $7.69. First support is last-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 was steady to slightly higher overnight as it extends that July-October 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 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 the 20-day moving average crossing at $9.02 1/4 would signal that a short-term top has been posted while opening the door for additional weakness near-term. First resistance is last-Friday's high crossing at $9.35. Second resistance is August's high crossing at $9.37 1/2. First support is the September 21st low crossing at $8.81 3/4. Second support is September's low crossing at $8.61 1/2. 

     

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



November soybeans were lower overnight as it extends the decline off June's high. Overnight weakness set 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 November extends the decline off August's high, the 38% retracement level of the 2020-2021-rally crossing at $12.29 3/4 is the next downside target. Closes above the September 27th high crossing at $12.97 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 $13.09 1/4. First resistance is the 27th high crossing at $12.97. Second resistance is the 50-day moving average crossing at $13.09 1/4. First support is the overnight low crossing at $12.35. Second support is the 38% retracement level of the 2020-2021-rally crossing at $12.29 3/4.

 

December soybean meal was lower overnight as it extends the decline off May'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 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 $348.20. First support is the overnight low crossing at $325.80. 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 overbought but remain neutral to bullish signaling sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 59.47 would confirm 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 50-day moving average crossing at 59.47. Second resistance is the August 25th high crossing at $61.55. 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 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. 4, 2021, 11:30 a.m.
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Thanks tallpine!