KEY EVENTS TO WATCH FOR:

Thursday, November 11, 2021 

9:45 AM ET. Bloomberg Consumer Comfort Index

  N/A              Marianas: Veterans' Day

Friday, November 12, 2021 

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

                       Corn (Metric Tons) (previous 1223.8K)

                       Soybeans (Metric Tons) (previous 1863.9K)

                       Wheat (Metric Tons) (previous 400.1K)

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

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

                       Mid-Mo Sentiment (previous 71.4)

                       Mid-Mo Expectations (previous 67.2)

                       Mid-Mo Current Idx (previous 77.9)

4:30 PM ET. Federal Discount Window Borrowings

4:30 PM ET. Foreign Central Bank Holdings

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

The Dow closed lower on Wednesday as it consolidates some of the rally off October's low. The low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 35,787.97 would signal that a short-term top has been posted. If the Dow extends this year's rally, upside targets will be hard to project. First resistance is Monday's high crossing at 36,565.73. Second resistance is unknown. First support is the 10-day moving average crossing at 36,095.80. Second support is the 20-day moving average crossing at 35,787.97. 

The December NASDAQ 100 closed sharply lower on Wednesday as it consolidates some of the rally off October's low. The low-range close sets the stage for a steady to lower opening when Thursday'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 15,722.89 would signal that a short-term top has been posted. If December extends the aforementioned rally, upside targets will be hard to project. First resistance is last-Friday's high crossing at 16,448.50. Second resistance is unknown. First support is the 20-day moving average crossing at 15,722.85. Second support is the 50-day moving average crossing at 15,366.83.

The December S&P 500 was lower on Wednesday. The low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 4579.88 would confirm that a short-term top has been posted. If you extend this year's rally, upside targets will be hard to project. First resistance is last-Friday's high crossing at 4596.75. Second resistance is unknown. First support is the 10-day moving average crossing at 4644.32. Second support is the 20-day moving average crossing at 4579.88.    

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

December T-bonds closed down 1-24/32's at 161-31 

December T-bonds closed sharply lower on Wednesday. The low-range close sets the stage for a steady to lower opening when Thursday'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 off September's high, the September 22^nd high crossing at 164-16 is the next upside target. Closes below the 20-day moving average crossing at 160-07 would signal that a short-term trend change has taken place. First resistance is the September 22^nd high crossing at 164-16. Second  resistance is September's high crossing at 164-24. First support is the 20-day moving average crossing at 160-07. Second support is the 62% retracement level of the March-August rally crossing at 157-13.  

December T-notes closed down 105-pts at 130.220.

December T-notes closed sharply lower on Wednesday. The low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling sideways to lower prices are possible near-term. If December renews 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 50-day moving average crossing at 131.264 would open the door for additional gains near-term. First resistance is the 50-day moving average crossing at 131.264. Second resistance is the October 4^th high crossing at 132.085. First support is October'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 posted a key reversal down on Wednesday.The low-range close sets the stage for a steady to lower opening when Thursday's night session begins. 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 $76.93 would confirm that a short-term top has been posted. 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. First resistance is October's high crossing at $85.41. Second resistance isthe October-2014 high on the monthly continuation chart crossing at $92.96.First support is the November 4^th low crossing at $78.25. Second support is the 50-day moving average crossing at $76.93.

December heating oil closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening when Thursday's night trading session begins. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off October's high, the 50-day moving average crossing at $236.78 is the next downside target. If December renews 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 October'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 50-day moving average  crossing at $236.78. Second support is the September 29^th low crossing at $224.69.       

December unleaded gas closed sharply lower on Wednesday. The low-range close sets the stage for a steady to lower opening when Thursday'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 renews the decline off October's high, the 50-day moving average crossing at $223.61 is the next downside target. 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. First resistance is October's high crossing at $246.84. Second resistance is the January-2014 highon the monthly continuation chart crossing at 250.10. First support is today's low crossing at $227.56. Second support is the 50-day moving average crossing at $223.61.    

December Henry natural gas closed lower on Wednesday as it extends the decline off October's high. The high-range close sets the stage for a steady to slightly lower opening when Thursday'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 50% retracement level of the 2020-2021-rally crossing at 4.521 is the next downside target. Closes above the 20-day moving average crossing at 5.536 would signal that a low has been posted. First resistance is the November 4^th high crossing at 5.876. Second resistance is the October 27^th high crossing at 6.281. First support is today's low crossing at 4.725. Second support is the 50% retracement level of the 2020-2021-rally crossing at 4.521.   

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

The December Dollar closed sharply higher on Wednesday and posted a new high for the year. The high-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends this year's rally, psychological resistance crossing at 100.00 is the next upside target. Closes below the 50-day moving average crossing at $93.57 would confirm that a short-term top has been posted. First resistance is today's high crossing at 94.90. Second resistance is psychological resistance crossing at 100.00. First support is the 50-day moving average crossing at $93.57. Second support is October's low crossing at $93.26.    

The December Euro closed sharply lower on Wednesday. The low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends this year's decline, the 62% retracement level of the 2020-2021-rally crossing at 114.56 is the next downside target. Closes above the 50-day moving average crossing at 116.78 would confirm that a low has been posted. First resistance is the 50-day moving average crossing at 116.78. Second resistance is the September 22^nd high crossing at 117.75. First support is today's low crossing at 114.83. Second support is the 62% retracement level of the 2020-2021-rally crossing at 114.56.

The December British Pound closed sharply lower on Wednesday. The low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are still possible. If December extends the decline off June's high, the 38% retracement level of the 2020-2021 rally crossing at 1.3223 is the next downside target. Closes above the 50-day moving average crossing at 1.3686 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at 1.3594. Second resistance is the 50-day moving average crossing at 1.3686. First support is today's low crossing at 1.3403. Second support is the 38% retracement level of the 2020-2021 rally crossing at 1.3223. 

The December Swiss Franc closed lower on Wednesday as it consolidated some of the rally off September's low. The low-range close sets the stage for a steady to lower opening when Thursday'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 50-day moving average crossing at 1.0872 would confirm that a short-term top has been posted while opening the door for additional weakness near-term. If December renews the rally off September's low, the 62% retracement level of the June-August decline crossing at 1.1033 is the next upside target. First resistance is November's high crossing at 1.1017. Second resistance is the 62% retracement level of the June-August decline crossing at 1.1033. First support is the 50-day moving average crossing at 1.0872. Second support is September's low crossing at 1.0693. 

The December Canadian Dollar closed sharply lower on Wednesday as it extends the decline off October's high. The low-range close sets the stage for a steady to lower opening when Thursday'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 50-day moving average crossing at 79.77 is the next downside target. Closes above the 20-day moving average crossing at 80.69 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 50-day moving average crossing at 79.77. Second support is the reaction low crossing at 79.05.   

The December Japanese Yen closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening when Thursday’s night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If December renews the rally off September's low, the 50-day moving average crossing at 0.089368 is the next upside target. First resistance is Tuesday's high crossing at 0.088735. Second resistance is the 50-day moving average crossing at 0.089368. First support is October'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 sharply higher on Wednesday.The mid-range close sets the stage for a steady to higher opening when Thursday'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 87% retracement level of the June-August decline  crossing at $1890.60 is the next upside target. Closes below the 20-day moving average crossing at $1796.00 would signal that a short-term top has been posted. First resistance is today's high crossing at $1870.60. Second resistance is the 87% retracement level of the June-August decline  crossing at $1890.60. First support is the November low crossing at $1758.50. Second support is September's low crossing at $1721.10.

December silver closed higher on Wednesday. The mid-range close sets the stage for a steady to higher opening when Thursday'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 26.130 is the next upside target. Closes below the 50-day moving acreage crossing at 23.441 would confirm that a short-term top has been posted. First resistance is today's high crossing at 25.220. Second resistance is August's high crossing at 26.130. First support is the 50-day moving average crossing at 23.441. Second support is September's low crossing at 21.410.    

December copper closed lower on Wednesday.The low-range close sets the stage for a steady to lower opening when Wednesday'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 renews the decline off October's high, October's low crossing at 405.85 is the next downside target. Closes above the 20-day moving average crossing at 448.06 would signal that a short-term low has been posted. First resistance the 20-day moving average crossing at 448.06. Second resistance is October's high crossing at 482.30. First support is last-Friday's low crossing at 427.80. Second support is the September 30^th low crossing at 405.45.  

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

December Corn closed up $0.14 1/2-cents at $5.69 1/4. 

December corn closed higher on Wednesday. The high-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If December renews the rally off October's low, August's high crossing at $5.94 1/4 is the next upside target. Closes below the 50-day moving average crossing at $5.35 1/2 would signal that a short-term top has been posted. First resistance is the November's high crossing at $5.86. Second resistance is August's high crossing at $5.94 1/4. First support is the 20-day moving average crossing at $5.49 1/4. Second support is the 50-day moving average crossing at $5.35 1/2.     

December wheat closed up $0.24 1/2-cents at $8.03.  

December wheat closed sharply higher on Wednesday. The high-range close sets the stage for a steady to higher opening when Thursday'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, monthly resistance crossing at $8.59 is the next upside target. Closes below the 20-day moving average crossing at $7.62 1/2 would signal that a short-term top has been posted.First resistance is last-Tuesday's high crossing at $8.07. Second resistance is monthly resistance crossing at $8.59. First support is the 20-day moving average crossing at $7.62 1/2. Second support is the 50-day moving average crossing at $7.36.

December Kansas City Wheat closed up $0.24-cents at $8.17 1/2.

December Kansas City wheat closed sharply higher on Wednesday and posted a new high for the year. The high-range close sets the stage for a steady to higher opening when Thursday'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, monthly resistance crossing at $8.55 1/2 is the next upside target. Closes below the 20-day moving average crossing at $7.75 3/4 would confirm that a short-term top has been posted. First resistance is today's high crossing at $8.17 1/2. Second resistance is monthly resistance crossing at $8.55 1/2. First support is the 20-day moving average crossing at $7.75 3/4. Second support is the 50-day moving average crossing at $7.41.

December Minneapolis wheat closed up $0.22 1/2-cents at $10.46 1/4. 

December Minneapolis wheat closed higher on Wednesday. The high-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are turning 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 $11.20 is the next upside target. Closes below the 20-day moving average crossing at $10.15 3/4 would signal that a short-term top has been posted. First resistance is last-Tuesday's high crossing at $10.86 1/2. Second resistance is monthly resistance on the continuation chart crossing at $11.22. First support is the 20-day moving average crossing at $10.15 3/4. Second support is the 50-day moving average crossing at $9.53 1/2.  

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

January soybeans closed up $0.06-cents at $12.18.

January soybeans closed higher on Wednesday. Today's high-range close sets the stage for a steady to higher opening when Thursday'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 $12.58 3/4 would signal that a short-term low has been posted. If January renews the decline off August's high, the 62% retracement level of the 2020-2021-rally crossing at $11.55 1/2 is the next downside target. First resistance is the 50-day moving average crossing at $12.58 3/4. Second resistance is the September 30^th high crossing at $13.04 1/4. First support is Tuesday's low crossing at $11.81 1/4. Second support is the 62% retracement level of the 2020-2021-rally crossing at $11.55 1/2.

December soybean meal closed up $0.20 at $342.70. 

December soybean meal posted an inside day with a higher close on Wednesday. The mid-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off October's low, the reaction high crossing at $357.70 is the next upside target. Closes below the 20-day moving average crossing at $329.60 would signal that a short-term top has been posted. First resistance is Tuesday's high crossing at $346.60. Second resistance is the reaction high crossing at $357.70. First support is  the 20-day moving average crossing at $329.60. Second support is the 87% retracement level of the 2020-2021 rally crossing at $307.30.      

December soybean oil closed up 82-pts. at 59.29. 

December soybean oil closed higher on Wednesday as it consolidates some of the decline off October's high. The mid-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are oversold and turning neutral to bullish signaling that sideways to higher prices are possible near-term. Multiple closes above the 20-day moving average crossing at 61.18 would signal that a short-term low has been posted. If December renews the rally off September's low, July's high crossing at 66.34 is the next upside target. First resistance is last-Thursday's high crossing at 65.00. Second resistance is July's high crossing at 66.34. First support is Tuesday's low crossing at 58.50. Second support is the October 12^th low crossing at 58.52.  

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

December hogs closed up $0.85 at $75.80. 

December hogs closed higher on Wednesday. The high-range close sets the stage for a steady to higher opening when Thursday'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 $77.69 would signal that a short-term low has been posted. If December renews the decline off September's high, the September low crossing at $71.27 is the next downside target. First resistance is the 10-day moving average crossing at $75.92. Second resistance is the 50-day moving average crossing at $77.69. First support is October's low crossing at $71.77. Second support is September's low crossing at $71.27. 

December cattle closed down $0.20 at $132.00. 

December cattle closed lower on Wednesday. The mid-range close sets the stage for a steady to lower opening on Thursday. 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 fall's rally, the reaction high crossing at $134.13 is the next upside target. Closes below the 50-day moving average crossing at $129.46 would signal that a short-term top has been posted. First resistance is Monday's high crossing at $132.50. Second resistance is the reaction high crossing at $134.13. First support is the reaction low crossing at $128.25. Second support is October's low crossing at $125.00. 

January Feeder cattle closed down $1.65 at $158.15. 

November feeder cattle closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening when Thursday'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 January renews the rally off November's low, October's high crossing at $163.13 is the next upside target. First resistance is Monday's high crossing at $160.60. Second resistance is October's high crossing at $163.13. First support is November's low crossing at $150.77. Second support is June's low crossing at $149.17. 

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

December coffee closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are neutral signaling that sideways trading is possible near-term. Closes above 215.15 or below 197.25 are needed to confirm a breakout of the October-November trading range.  

December cocoa closed higher on Wednesday.  The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the decline, the 87% retracement level of the July-October rally crossing at 23.54 is the next downside target. Closes above the 20-day moving average crossing at 25.26 would signal that a low has been posted.

March sugar closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are overbought and are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If March renews the decline off October's high, the 25% retracement level of the 2020-2021-rally crossing at 18.54 is the next downside target. Closes above Monday's high crossing at 20.10 would signal that a short-term low has been posted.

December cotton closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening on Thursday. 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, 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 112.73 would signal that a short-term top has been posted.