KEY EVENTS TO WATCH FOR:

Monday, October 25, 2021 

8:30 AM ET. September CFNAI Chicago Fed National Activity Index

                       NAI (previous 0.29)

                       NAI, 3-mo Moving Avg (previous 0.43)

10:30 AM ET. October Texas Manufacturing Outlook Survey

                       Business Activity (previous 4.6)

                       Mfg Production Idx (previous 24.2)

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

The Dow closed higher on Friday as it extends the rally off September's low into a new all-time 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 overbought but remain neutral to bullish signaling that signaling that sideways to higher prices are possible near-term. Closes below the 20-day moving average crossing at 34,754.01 would signal that a short-term top has been posted. First resistance is today's high crossing at 35,765.02. Second resistance is unknown. First support is the 10-day moving average crossing at 35,111.90. Second support is the 20-day moving average crossing at 33,753.96. 

The December NASDAQ 100 closed lower on Friday as it consolidates some of the rally off October'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 overbought but remains neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the aforementioned rally, September's high crossing at 15,702.25 is the next downside target. Closes below the 20-day moving average crossing at 14,945.29 would signal that a short-term top has been posted. First resistance is Thursday's high crossing at 15,483.75. Second resistance is September's high crossing at 15,702.25. First support is the 50-day moving average crossing at 15,176.68. Second support is the 20-day moving average crossing at 14,945.29.

The December S&P 500 was lower 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 overbought but remain neutral to bullish signaling sideways to higher prices are possible near-term. Multiple closes above September's high crossing at 4539.50 would renew this year's rally. Closes above the 20-day moving average crossing at 4402.86 would confirm that a short-term top has been posted. First resistance is September's high crossing at 4539.50. Second resistance is unknown. First support is the 50-day moving average crossing at 4434.56. Second support is the 20-day moving average crossing at 4402.86.    

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December T-bonds closed up 18/32's at 158-10 

December T-bonds closed higher on Friday as it consolidated some of the decline off last-Thursday's high. The high-range close sets the stage for a steady to higher opening when 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 September's high, the June 16^th low crossing at 156-15 is the next downside target. Closes above the October 14^th high crossing at 160-11 would signal that a short-term low has been posted. First resistance is the October 14^th high crossing at 160-11. Second resistance is the 50-day moving average crossing at 161-17. First support is the 62% retracement level of the March-August rally crossing at 157-13. Second support is the June 16^th low crossing at 156-15.  

December T-notes closed up 50-pts at 130.110.

December T-notes closed higher on Friday as it consolidated some of 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 oversold but remain neutral to bearish signaling sideways to lower prices are possible near-term. If December extends the decline off August's high, the 50% retracement level of the 2018-2020-rally on the monthly continuation chart crossing at 129.035 is the next downside target. Closes above the 20-day moving average crossing at 131.076 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 131.076. Second resistance is the October 14^th high crossing at 131.195. First support is Thursday's low crossing at 130.045. Second support is the 50% retracement level of the 2018-2020-rally on the monthly continuation chart crossing at 129.035. 

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

December crude oil closed higher on Friday as it extends 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. 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 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 $79.02 would confirm that a short-term top has been posted. First resistance is Thursday's high crossing at $83.96. 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 $79.02. Second support is the September 30^th low crossing at $72.82. 

December heating oil closed slightly lower on Friday as it consolidates some of the rally off August's low. The mid-range close sets the stage for a steady to lower opening when Monday's night trading session begins. Stochastics and the RSI are overbought but are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at $246.15 would signal that a short-term top has been posted. If December extends the rally off August's low, the 62% retracement level of the 2008-2020-decline on the monthly continuation chart crossing at $279.19 is the next upside target. First resistance is Monday's high crossing at $259.83. Second resistance is the 62% retracement level of the 2008-2020-decline on the monthly continuation chart crossing at $279.19. First support is the 20-day moving average crossing at $246.15. Second support is the October 7^th low crossing at $236.78.       

December unleaded gas closed slightly higher on Friday as it extended this week's trading range. 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off August's low, the January-2014 high on the monthly continuation chart crossing at 250.10 is the next upside target. Closes below the 20-day moving average crossing at $230.64 would signal that a short-term top has been posted. First resistance is Thursday's high crossing at $245.48. Second resistance is the January-2014 highon the monthly continuation chart crossing at 250.10. First support is the 20-day moving average crossing at $230.64. Second support is the October 7^th low crossing at $220.73.    

December Henry natural gas 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 20-day moving average crossing at 5.702 would signal that a short-term low has been posted. Closes below the 50-day moving average crossing at 5.112 would open the door for additional weakness. First resistance is last-Thursday's high crossing at 5.478. Second resistance is October's high crossing at 6.593. First support is the 50-day moving average crossing at 5.112. Second support is the September 21^st low crossing at 4.879.   

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

The December Dollar closed lower on Friday as it extended this week's trading range. 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 oversold but remain neutral to bearish signaling that sideways to higher prices are possible near-term. If December extends the aforementioned decline, the 50-day moving average crossing at $93.29 is the next downside target. Closes above the 20-day moving average crossing at $93.98 would signal that a short-term low has been posted. First resistance is October's high crossing at 94.57. Second resistance is the 38% retracement level of the 2020-2021-decline crossing at $94.82. First support is the 50-day moving average crossing at $93.29. Second support is the September 23^rd low crossing at $92.97.    

The December Euro posted an inside day with a higher close 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends rally off October's low, the 50-day moving average crossing at 117.26 is the next upside target. Closes below the 10-day moving average crossing at 116.17 would signal that a short-term top has been posted. First resistance is the 50-day moving average crossing at 117.26. Second resistance is the September 22^nd high crossing at 117.75. First support is October's low crossing at 115.38. Second support is the 62% retracement level of the 2020-2021-rally crossing at 114.56.

The December British Pound closed lower on Friday. 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 still possible. If December extends the rally off September's low, September's high crossing at 1.3917 is the next upside target. Closes below the 20-day moving average crossing at 1.3648 would signal that a short-term top has been posted. First resistance is Thursday's high crossing at 1.3832. Second resistance is September's high crossing at 1.3917. First support is the 50-day moving average crossing at 1.3715. Second support is the 20-day moving average crossing at 1.3648. 

The December Swiss Franc closed higher on Friday as it extends the rally off September's low. 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 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 June-August decline crossing at 1.0968 is the next upside target. Closes below the 20-day moving average crossing at 1.0818 would confirm that a short-term top has been posted while opening the door for additional weakness near-term. First resistance is today's high crossing at 1.1942. Second resistance is the 50% retracement level of the June-August decline crossing at 1.0968. First support is the 20-day moving average crossing at 1.0818. Second support is September's low crossing at 1.0693. 

The December Canadian Dollar closed slightly higher on Friday. 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 75% retracement level off the June-August decline crossing at 81.72 is the next upside target. Closes below the 20-day moving average crossing at 79.99 would signal that a short-term top has been posted. First resistance is the June 26^th high crossing at 81.55. Second resistance is the 75% retracement level off the June-August decline crossing at 81.72. First support is the 10-day moving average crossing at 80.69. Second support is the 20-day moving average crossing at 79.99.   

The December Japanese Yen closed higher on Friday and above the 10-day moving average crossing at 0.087874 hinting that a short-term low might be in place. 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 are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 0.088815 would confirm that a short-term low has been posted. If December extends the decline off September's high, the December-2016 low on the monthly continuation chart crossing at 0.084275 is the next downside target. First resistance is the 20-day moving average crossing at 0.088815. Second resistance is the 50-day moving average crossing at 0.090200. First support is Wednesday's low crossing at 0.087215. Second support is the December-2016 low on the monthly continuation chart crossing at 0.084275.  

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

December gold closed higher on Friday but well off session lows.The mid-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI have turned 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 $1836.90 is the next upside target. Closes below the 20-day moving average crossing at $1765.40 would signal that a short-term top has been posted. First resistance is today's high crossing at $1815.50. Second resistance is September's high crossing at $1836.90. First support is September's low crossing at $1721.10. Second support is August's low crossing at $1677.90.

December silver closed higher but off session lows on Friday. The low-range close sets the stage for a steady to slightly higher opening when Monday's night session begins trading. Stochastics and the RSI are overbought but remains 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 26.130 is the next upside target. Closes below the 20-day moving acreage crossing at 22.985 would confirm that a short-term top has been posted. First resistance is September's high crossing at 24.945. Second resistance is August's high crossing at 26.130. First support is the 20-day moving average crossing at 22.985. Second support is September's low crossing at 21.410.    

December copper closed sharply 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 have turned neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 439.49 would signal that a short-term top has been posted. If December extends the rally off August's low, May's high crossing at 487.05 is the next upside target. First resistance is Monday's high crossing at 482.30. Second resistance is May's high crossing at 487.05. First support is the 20-day moving average crossing at 439.49. Second support is the 50-day moving average crossing at 431.98.  

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

December Corn closed up $0.05 3/4-cents at $5.38. 

December corn closed higher on Friday as it extended this week's trading range. 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 this month's rally, September's high crossing at $5.48 1/2 is the next upside target. Closes below the 10-day moving average crossing at $5.28 1/4 would signal that a short-term top has been posted. 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 10-day moving average crossing at $5.28 1/2. Second support is October's low crossing at $5.06 1/2.     

December wheat closed up $0.14 3/4-cents at $7.56.  

December wheat 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 remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December renews the rally off September's low, August's high crossing at $7.86 1/2 is the next upside target. Closes below the October 13^th low crossing at $7.12 3/4 would signal that a short-term top has been posted.First resistance is October's high crossing at $7.63 1/2. Second resistance is the August high crossing at $7.86 1/2. First support is the September 30^th low crossing at $7.01 1/4. Second support is the September 21^st low crossing at $6.86.

December Kansas City Wheat closed up $0.26 1/4-cents at $7.74.

December Kansas City wheat closed sharply higher on Friday as it posted a new contract 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 neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off September's low, psychological resistance crossing at $8.00 is the next upside target. Closes below the 50-day moving average crossing at $7.24 1/2 would confirm that a short-term top has been posted. First resistance is today's high crossing at $7.75. Second resistance is psychological resistance crossing at $8.00. First support is the 20-day moving average crossing at $7.39 3/4. Second support is the 50-day moving average crossing at $7.24 1/2.

December Minneapolis wheat closed up $0.27 3/4-cents at $10.13. 

December Minneapolis wheat closed sharply higher on Friday and above $10.00 for the first time since July of 2012. The low-range close sets the stage for a steady to lower opening when Friday'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 this year's rally, monthly resistance on the continuation chart crossing at $10.35 is the next upside target. Closes below the 20-day moving average crossing at $9.48 1/4 would signal that a short-term top has been posted. First resistance is today's high crossing at $10.18. Second resistance is monthly resistance on the continuation chart crossing at $10.35. First support is the 10-day moving average crossing at $9.70 3/4. Second support is the 20-day moving average crossing at $9.48 1/4.  

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

November soybeans closed down $0.03 1/2-cents at $12.20 1/2.

November soybeans closed lower on Friday. Today's low-range close sets the stage for a steady to lower 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. Multiple closes above the 20-day moving average crossing at $12.37 1/2 would signal that a short-term low has been posted. If November extends the decline off August's high, the 62% retracement level of the 2020-2021-rally crossing at $11.52 1/2 is the next downside target. First resistance is the 20-day moving average crossing at $12.37 1/2. Second resistance is the 50-day moving average crossing at $12.76. First support is last-Wednesday's low crossing at $11.84 1/2. Second support is the 62% retracement level of the 2020-2021-rally crossing at $11.52 1/2.

December soybean meal closed up $3.40 at $327.40. 

December soybean meal posted an inside day with a higher close 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 remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off last week's low, the 50-day moving average crossing at $337.60 is the next upside target. If December renews the decline off July's high, the 87% retracement level of the 2020-2021 rally crossing at $307.30 is the next downside target. First resistance is the 50-day moving average crossing at $337.60. Second resistance is September's high crossing at $347.30. First support is last-Wednesday's low crossing at $309.30. Second support is the 87% retracement level of the 2020-2021 rally crossing at $307.30.      

December soybean oil closed down 49-pts. at 62.09. 

December soybean oil closed lower on Friday as it consolidates some of the rally off September's low. 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 60.46 would signal that a short-term top has been posted. If December extends the rally off September's low, July's high crossing at 66.34 is the next upside target. First resistance is Thursday's high crossing at 65.00. Second resistance is July's high crossing at 66.34. First support is the 20-day moving average crossing at 60.46. Second support is the October 12^th low crossing at 58.52.  

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

December hogs closed up $0.30 at $73.50. 

December hogs closed higher on Friday as it consolidated some of the decline off October's high. 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the aforementioned decline, the September low crossing at $71.27 is the next downside target. Closes above the 20-day moving average crossing at $80.06 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $77.10. Second resistance is the 20-day moving average crossing at $80.06. First support is today's low crossing at $72.87. Second support is September's low crossing at $71.27. 

December cattle closed down $1.23 at $128.32. 

December cattle closed lower on Friday below last-Wednesday's low crossing at $128.55 would signal that a short-term top has been posted. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI have turning neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends this week's decline, the reaction low crossing at $127.12 is the next downside target. Closes above the 50-day moving average crossing at $130.53 would open the door for a larger-degree rally. First resistance is the 50-day moving average crossing at $130.53. Second resistance is minor resistance crossing at $133.08. First support is today's low crossing at $128.25. Second support is October's low crossing at $125.00. 

November Feeder cattle closed down $2.30 at $156.77. 

November feeder cattle closed sharply lower on Friday and below the 20-day moving average crossing at $158.40 signaling that a short-term top has been posted. 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 rally off September's low, the 50-day moving average crossing at $161.77 is the next upside target. First resistance is the 50-day moving average crossing at $161.77. Second resistance is the reaction high crossing at $162.48. First support is today's low crossing at $156.57. Second support is September's low crossing at $152.00. 

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

December coffee closed lower on Friday and below the 20-day moving average crossing at $201.10 would signal that a short-term top has been posted. 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 lower prices are possible near-term. If December extends this week's decline, the 50-day moving average crossing at $193.28 is the next downside target, If December renews the rally off September's low, July's high crossing at $217.86 is the next upside target.   

December cocoa closed higher on Friday as it consolidates some of the decline off October's high.  The high-range close sets the stage for a steady to higher opening on Monday. 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 July-October rally crossing at 24.81 is the next downside target. Closes above the 20-day moving average crossing at 26.354 would signal that a low has been posted.

March sugar posted an inside day with a slightly higher close on Friday. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends this month's decline, the 25% retracement level of the 2020-2021-rally crossing at 18.54 is the next downside target. Closes above the 20-day moving average crossing at 19.70 would signal that a short-term low has been posted.

December cotton closed higher on Friday. The high-range close sets the stage for a steady to higher opening on Monday. 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 106.60 would signal that a short-term top has been posted. If December renews 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.