KEY EVENTS TO WATCH FOR:

Tuesday, October 12, 2021   

6:00 AM ET. September NFIB Index of Small Business Optimism

                       Small Business Idx (previous 100.1)

7:45 AM ET. Weekly Chain Store Sales Index

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. IMF World Economic Outlook published

10:00 AM ET. August Job Openings & Labor Turnover Survey

10:30 AM ET. IMF Global Financial Stability Report published

12:00 PM ET. World Agricultural Supply & Demand Estimates (WASDE)

                       Corn, End Stocks (Bushels)

                       Soybeans, End Stocks (Bushels)

                       Wheat, End Stocks (Bushels)

                       Cotton, End Stocks (Bales)

Wednesday, October 13, 2021  

7:00 AM ET. IMF Fiscal Monitor published

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. World Bank President David Malpass' Annual Meetings press briefing

8:30 AM ET. September Real Earnings

8:30 AM ET. September CPI

                       CPI, M/M% (previous +0.3%)

                       Core CPI, M/M% (previous +0.1%)

                       Energy Idx, M/M% (previous +2.0%)

                       Food Idx, M/M% (previous +0.4%)

                       Real Avg Wkly Pay-Infla Adj, M/M% (previous +0.3%)

                       CPI, Y/Y% (previous +5.3%)

                       Core Annual, Y/Y% (previous +4%)

10:00 AM ET. September Online Help Wanted Index

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

2:00 PM ET. Federal Open Market Committee meeting minutes and economic forecast

4:30 PM ET. API Weekly Statistical Bulletin

                       Crude Stocks, Net Chg (Bbls)

                       Gasoline Stocks, Net Chg (Bbls)

                       Distillate Stocks, Net Chg (Bbls)

N/A               G20 Finance Ministers and Central Bank Governors Meeting

Thursday, October 14, 2021  

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

                       Jobless Claims

                       Jobless Claims, Net Chg

                       Continuing Claims

                       Continuing Claims, Net Chg

8:30 AM ET. September PPI

                       PPI, M/M% (previous +0.7%)

                       Ex-Food & Energy PPI, M/M% (previous +0.6%)

                       Personal Consumption (previous +0.8%)

9:45 AM ET. Bloomberg Consumer Comfort Index

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

                       Working Gas In Storage (Cbf)

                       Working Gas In Storage, Net Chg (Cbf)

11:00 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

1:00 PM ET. IMF Debate on the Global Economy

4:30 PM ET. Federal Discount Window Borrowings

4:30 PM ET. Foreign Central Bank Holdings

Friday, October 15, 2021   

8:30 AM ET. October Empire State Manufacturing Survey

                       Mfg Idx (previous 34.3)

                       Employment Idx (previous 20.5)

                       New Orders Idx (previous 33.7)

                       Prices Received (previous 47.8)

8:30 AM ET. September Advance Monthly Sales for Retail & Food Services

                       Overall Sales-SA, M/M% (previous +0.7%)

                       Sales, Ex-Auto, M/M% (previous +1.8%)

                       Sales, Ex-Auto & Gas, M/M% (previous +2.0%)

8:30 AM ET. September Import & Export Price Indexes

                       Import Prices (previous -0.3%)

                       Non-Petroleum Prices (previous -0.1%)

                       Petroleum Prices (previous -2.4%)

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

                       Corn (Metric Tons) (previous 1265.1K)  

                       Soybeans (Metric Tons) (previous 1041.9K)  

                       Wheat (Metric Tons) (previous 333.2K)

10:00 AM ET. August Manufacturing & Trade: Inventories & Sales

                       Total Inventories (previous +0.5%)

10:00 AM ET. October University of Michigan Survey of Consumers – preliminary

                       Mid-Mo Sentiment (previous 71.0)

                       Mid-Mo Expectations (previous 67.1)

                       Mid-Mo Current Idx (previous 77.1)

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

The STOCK INDEXES: The December NASDAQ 100 was steady to higher overnight following a two-day correction off last-Thursday's high. 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 September's high, the 38% retracement of the 2020-2021-rally crossing at 13,825.88 is the next downside target. Closes above the 50-day moving average crossing at 15,152.26 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 14,964.09. Second resistance is the 50-day moving average crossing at 15,152.26. First support is the 25% retracement of the 2020-2021-rally crossing at 14,474.38. Second support is the 38% retracement of the 2020-2021-rally crossing at 13,825.88.  

The December S&P 500 was steady to lower overnight as it extends the decline off last-Thursday's high. 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 renews 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 4424.42 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at 4424.42. Second resistance is the September 27^th 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 higher overnight as they consolidates some of the decline off September's high. Overnight strength 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 75% retracement level of the March-August rally crossing at 155-23 is the next downside target. Closes above the 20-day moving average crossing at 160-21 would signal that a short-term low has been posted. First resistance is last-Monday's high crossing at 160-20. Second resistance is the 20-day moving average crossing at 160-21. First support is the June 16^th low crossing at 156-15. Second support is the 75% retracement level of the March-August rally crossing at 155-23.

December T-notes were higher overnight as they consolidate some of the decline off August's high. Overnight strength sets the stage for a steady to higher 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 the decline off August's, the 87% retracement level of the March-August rally crossing at 130.207 is the next downside target. Closes above the 20-day moving average crossing at 132.026 would temper the near-term bearish outlook. First resistance is the 20-day moving average crossing at 132.026. Second resistance is the 50-day moving average crossing at 132.285. First support is the 87% retracement level of the March-August rally crossing at 130.207. Second support is March's low crossing at 130.010.  

ENERGY MARKETS? http://quotes.ino.com/ex?changes/?c=energy ""

ENERGIES:November crude oil was steady to higher overnight as it extends the rally off August'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 November extends the rally off August's low, the October-2014 high on the monthly continuation chart crossing at $92.96 is the next upside target. Closes below the 20-day moving average crossing at $75.30 would signal that a short-term top has been posted while opening the door for additional weakness near-term. First resistance is Monday's high crossing at $82.18. Second resistance is the October-2014 high on the monthly continuation chart crossing at $92.96. First support is the 20-day moving average crossing at $75.30. Second support is the 50-day moving average crossing at $70.71.

November heating oil was steady to slightly lower overnight as it consolidates some of Monday's rally. 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 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 $2.7919 is the next upside target. Closes below the 20-day moving average crossing at $2.3302 would signal that a short-term top has been posted. First resistance is Monday's high crossing at $2.5376. Second resistance is the 62% retracement level of the 2008-2020-decline on the monthly continuation chart crossing at $2.7919. First support is the 10-day moving average crossing at $2.4360. Second support is the 20-day moving average crossing at 2.3302.  

November unleaded gas was higher overnight as it extends the rally off August's low. 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 75% retracement level of the 2008-2020-decline on the monthly continuation chart crossing at 2.8181 is the next upside target. Closes below the 20-day moving average crossing at 2.2114 would signal that a short-term top has been posted. First resistance is Monday's high crossing at 2.4115. Second resistance is the 75% retracement level of the 2008-2020-decline on the monthly continuation chart crossing at 281.81. First support is the 10-day moving average crossing at 2.3056. Second support is the 20-day moving average crossing at 2.2114.

November Henry natural gas 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 neutral to bearish signaling that sideways to lower prices are possible near-term. If November extends the aforementioned decline, the 50-day moving average crossing at 4.797 is the next downside target. Closes above last-Friday's high crossing at 5.876 would signal that a short-term low has been posted. First resistance is last-Wednesday's high crossing at 6.466. Second resistance is the 62% retracement level of the 2008-2020-decline crossing at 6.671. First support is the 50-day moving average crossing at 4.797. Second support is the September 21^st low crossing at 4.766.    

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

CURRENCIES:The December Dollar was steady to slightly lower overnight as it continues to form a small ascending triangle. Stochastics and the RSI are 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, the 38% retracement level of the 2020-2021-decline on the weekly continuation chart crossing at $94.82 is the next upside target. Closes below the 20-day moving average crossing at $93.68 would signal that a short-term top has been posted. First resistance is the September 30^th 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 last-Monday's low crossing at $93.68. Second support is the 20-day moving average crossing at $93.68.  

The December Euro was steady to slightly lower overnight.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 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 $116.70 would signal that a short-term low has been posted. First resistance is last-Monday's high crossing at $116.56. Second resistance is the 20-day moving average crossing at $116.70. First support is last-Wednesday's low crossing at $115.45. Second support is the 62% retracement level of the 2020-2021-rally crossing at $114.56.

The December British Pound was steady to slightly higher overnight. Overnight strength sets the stage for a steady to higher opening when the day session beings trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above Monday's high crossing at 1.3675 are needed to renew the rally off September's low.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 Monday's high crossing at 1.3675. Second resistance is the 50-day moving average crossing at 1.3736. First support is the September 29^thlow 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 steady to lower in late-overnight trading. Overnight weakness sets the stage for a steady to slightly lower opening when the day session begins trading. Stochastics and the RSI remain neutral to bullish signaling that sideways to higher prices possible near-term. Closes above last-Monday's high crossing at 1.0853 are needed to signal that a short-term low has been posted while opening the door for additional gains near-term. If December renews the decline off August's high, March's low crossing at 1.0654 is the next downside target. First resistance is last-Monday's high crossing at 1.0853. Second resistance is the 50-day moving average crossing at 1.0890. First support is the September 30^th low crossing at 1.0693. Second support is March's low crossing at 1.0654.

The December Canadian Dollar was steady to higher overnight and is poised to resume 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, the July 30^th high crossing at $80.46 is the next upside target. Closes below the 20-day moving average crossing at $79.10 would signal that a short-term top has likely been posted. First resistance is the July 30^th high crossing at 80.46. Second resistance is the July 6^th high crossing at $81.23. First support is the 20-day moving average crossing at $79.10. Second support is the September 29^th low crossing at $78.27.

The December Japanese Yen was steady to slightly higher in late-overnight trading as it consolidates some of the decline off September's high. Overnight strength sets the stage for a steady to slightly 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 November-2018 low on the monthly continuation chart crossing at 0.087675 is the next downside target. Closes above the 20-day moving average crossing at 0.090153 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 0.090153. Second resistance is the 50-day moving average crossing at 0.090711. First support is the overnight low crossing at 0.088150. Second support is the November-2018 low on the weekly continuation chart crossing at 0.087675.

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

PRECIOUS METALS:Decembergold was higher overnight as it extends the trading range of the past two-weeks. 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 $1778.90 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 50-day moving average crossing at $1778.90. Second resistance is the September 14^th high crossing at $1810.60. First support is the September 29^th low crossing at $1721.10. Second support is August's low crossing at $1677.90.

December silver was steady to slightly lower overnight. The mid-range trade sets the stage for a steady to slightly lower opening when the day session begins trading later this morning. 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 $23.427 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 50-day moving average crossing at $23.427. Second resistance is the September 16^th high crossing at $24.000. First support is the September 29^th low crossing at $21.410. Second support is the 50% retracement level of the 2020-2021-rally crossing at $21.120. 

December copper was slightly lower overnight as it consolidates some of Monday's rally. 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 December extends the rally off September's low, September's high crossing at 4.4690 is the next upside target. Closes below the 10-day moving average crossing at 4.2295 would signal that a short-term low has been posted. First resistance is Monday's high crossing at 4.3850. 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 lower overnight as it extends the trading range of the past two-weeks. Traders  expect corn production estimates to fall slightly from September’s estimate  of 14.996 billion bushels, with an average trade guess of 14.973 billion bushels. That suggest an average yield of 176.0 bushels per acre across 85.095 harvested acres.The mid-range trade overnight sets the stage for a steady to lower opening when the day sessions begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the September 30^th low of $5.27 1/4 would signal that a short-term top has been posted. Closes above the September 30^th high crossing at $5.48 1/2 would open the door for a possible test of the August 30^th high crossing at $5.58. First resistance is the September 30^th high crossing at $5.48 1/2. Second resistance is the August 30^th high crossing at $5.58. First support is the September 30^th high crossing at $5.48 1/2. Second support is the September 21^st low crossing at $5.12 3/4. Third support is September's low crossing at $4.97 1/2.   

December wheat was steady to slightly higher overnight. Traders are expecting to see U.S. wheat stocks decline from 615 million bushels in September down to 576 million bushels in today's report. 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. Closes below the 20-day moving average crossing at $7.23 3/4 would signal that a short-term top has been posted. If December resumes the rally off September's low, August's high crossing at $7.86 1/2 is the next upside target. First resistance is last-Monday's high crossing at $7.63 1/2. Second resistance is August's high crossing at $7.86 1/2. First support is the 50-day moving average crossing at $7.27. Second support is the 20-day moving average crossing at $7.23 3/4. 

December Kansas City wheat was steady to fractionally higher overnight. The mid-range overnight trade sets the stage for a steady to fractionally 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. Closes below the 50-day moving average crossing at $7.20 1/4 would signal that a short-term top has been posted. If December resumes the rally off September's low, August's high crossing at $7.69 is the next upside target. First resistance is last-Monday's high crossing at $7.64 1/4. Second resistance is August's high crossing at $7.69. First support is the 20-day moving average crossing at $7.25. Second support is the 50-day moving average crossing at $7.20 1/4. 

December Minneapolis wheat was higher overnight as it extends last-Wednesday's upside breakout of the 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 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, weekly resistance crossing at $9.83 1/2 is the next upside target. Closes below the 50-day moving average crossing at $9.09 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 $9.53. Second resistance is weekly resistance crossing at $9.83 1/2. First support is the 10-day moving average crossing at $9.32 1/4. Second support is the 50-day moving average crossing at $9.09 1/4.  

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

November soybeans were lower overnight in anticipation of a bearish WASDE report due to be released later today. 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 resumes the decline off August's high, March's low crossing at $11.84 is the next downside target. Closes above the 20-day moving average crossing at $12.64 1/4 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 $12.94 3/4. First resistance is the 20-day moving average crossing at $12.64 1/4. Second resistance is the 50-day moving average crossing at $12.94 3/4. First support is the overnight low crossing at $12.23 1/2. Second support is March's low crossing at $11.84.

December soybean meal was steady to slightly 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 extends the decline off August's high, the 87% retracement level of the 2020-2021-rally crossing at $307.30 is the next downside target. Closes above the 20-day moving average crossing at $332.20 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $323.60. Second resistance is the 20-day moving average crossing at $332.20. First support is the overnight low crossing at $316.00. Second support is the 87% retracement level of the 2020-2021-rally crossing at $307.30.

December soybean oil was lower overnight as it extends the decline off last-Friday's high. Overnight weakness sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 58.42 would signal that a short-term top has been posted. If December extends the rally off September's low, the August 16^th high crossing at 64.00 is the next upside target. First resistance is last-Friday's high crossing at 63.08. Second resistance is the August 16^th high crossing at 64.00. First support is the 20-day moving average crossing at 58.42. Second support is September's low crossing at 54.18.       

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

December hogs closed down $1.35 at $80.15. 

December hogs gapped down and closed lower on Monday as it extended the decline off October's high. The mid-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at $78.94 would signal that a short-term top has been posted. If December renews the rally off September's low the July high crossing at $86.25 is the next upside target. First resistance is July's high crossing at $86.25. Second resistance is June's high crossing at $89.55. First support is the 20-day moving average crossing at $78.94. Second support is the September 27^th gap crossing at $77.20.  

December cattle closed down $0.08 at $130.18. 

December cattle closed slightly lower on Monday. The high-range close sets the stage for a steady to higher opening on Tuesday. 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 $131.15 is the next upside target. Closes below last-Wednesday's low crossing at $127.13 would signal that a short-term top has been posted. First resistance is last-Friday's high crossing at $130.60. Second resistance is the 50-day moving average crossing at $131.15. First support is last-Wednesday's low crossing at $127.13. Second support is October's low crossing at $125.00. 

November Feeder cattle closed up $0.65 at $161.80. 

November feeder cattle closed higher on Monday as it extends the rally off September's low. The high-range close sets the stage for a steady to higher opening when Tuesday's 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 aforementioned rally, the 50-day moving average crossing at $162.99 is the next upside target. Closes below the 10-day moving average crossing at $157.27 would signal that a short-term top has been posted. First resistance is last-Friday's high crossing at $162.13. Second resistance is the 50-day moving average crossing at $162.99. First support is the 10-day moving average crossing at $157.27. Second support is September's low crossing at $152.00. Third 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 higher on Monday. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If December renews the rally off September's low, July's high crossing at $217.86 is the next upside target. Closes below the 50-day moving average crossing at $189.00 would signal that a short-term top has been posted.   

December cocoa closed sharply lower on Monday. The low-range close sets the stage for a steady to lower opening on Tuesday. 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 26.56 would signal that a short-term top has been posted. If December resumes the rally off July's low, the November-2020 high on the weekly continuation chart crossing at 28.21 is the next upside target.                              

March sugar closed slightly higher on Monday as it extend the trading range of the past-four weeks. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above 20.38 or below 19.31 are needed to confirm a breakout of the September-October trading range.

December cotton closed lower on Monday following last-Friday's downside reversal as it consolidates some of the rally off September's low. The low-range close sets the stage for a steady to lower opening on Tuesday. 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% retracement level of the 2011-2020 decline on the monthly continuation chart crossing at 134.17 is the next upside target. Closes below the 20-day moving average crossing at 99.88 would signal that a short-term top has been posted.