KEY EVENTS TO WATCH FOR:

Monday, November 15, 2021 

8:30 AM ET. November Empire State Manufacturing Survey

                       Mfg Idx (previous 19.8)

                       Employment Idx (previous 17.1)

                       New Orders Idx (previous 24.3)

                       Prices Received (previous 43.5)

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

The Dow closed higher on Friday as it consolidates some of this week's decline. 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 neutral to bearish signaling that signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 35,876.36 would signal that a short-term top has been posted. If the Dow renews 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 20-day moving average crossing at 35,876.36. Second support is the October 27^th low crossing at 35,490.43. 

The December NASDAQ 100 closed higher on Friday as it consolidates some of this week's decline. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 15,825.26 would signal that a short-term top has been posted. If December renews the rally off October's low, 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 15,825.26. Second support is the 50-day moving average crossing at 15,387.34.

The December S&P 500 was higher on Friday as it consolidates some of this week's decline. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 4601.04 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 20-day moving average crossing at 4601.04. Second support is the September 27^th low crossing at 4543.75.    

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

December T-bonds closed down 13/32's at 161-12 

December T-bonds closed lower on Friday as it extends this week's decline. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 160-14 would signal that a short-term trend change has taken place. If December extends the off September's high, the September 22^nd high crossing at 164-16 is the next upside target. 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 160-14. Second support is the 62% retracement level of the March-August rally crossing at 157-13.  

December T-notes closed down 110-pts at 130.125.

December T-notes 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 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 50-day moving average crossing at 131.225 would open the door for additional gains near-term. First resistance is the 50-day moving average crossing at 131.225. 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 closed slightly lower on Friday.The mid-range close sets the stage for a steady to lower opening when Monday's night 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 Wednesday's high, the 50-day moving average crossing at $77.44. Closes below the 50-day moving average crossing at $77.44 would confirm that a short-term top has been posted. If December renews 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 $77.44.

December heating oil closed lower on Friday as it extends the decline off October's high. The low-range close sets the stage for a steady to lower opening when Monday's night trading session begins. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at $237.95 would open the door for additional weakness near-term. Closes above Wednesday's high crossing at $252.80 would signal that a short-term low has been posted. 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 $237.95. Second support is the September 29^th low crossing at $224.69.       

December unleaded gas closed slightly 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 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 $224.75 is the next downside target. Closes above Wednesday's high crossing at $239.77 are needed to confirm that a short-term low has been posted. 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 $225.95. Second support is the 50-day moving average crossing at $224.75.    

December Henry natural gas 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 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 5.459 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 Wednesday'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 lower on Friday due to profit taking ahead of the weekend. 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 remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends this year's rally, the 50% retracement level of the 2020-2021 decline on the weekly continuation chart crossing at 96.56 is the next upside target. Closes below the 20-day moving average crossing at $94.06 would confirm that a short-term top has been posted. First resistance is today's high crossing at $95.27. Second resistance is the 50% retracement level of the 2020-2021 decline on the weekly continuation chart crossing at 96.56. First support is the 20-day moving average crossing at $94.06. Second support is the 50-day moving average crossing at $93.69. Second support is October's low crossing at $93.26.    

The December Euro 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends this year's decline, the 75% retracement level of the 2020-2021-rally crossing at 112.48 is the next downside target. Closes above the 50-day moving average crossing at 116.61 would confirm that a low has been posted. First resistance is the 50-day moving average crossing at 116.61. Second resistance is the September 22^nd high crossing at 117.75. First support is the 62% retracement level of the 2020-2021-rally crossing at 114.56. Second support is the 75% retracement level of the 2020-2021-rally crossing at 112.48. 

The December British Pound closed higher on Friday as it consolidated some of this week's decline. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are oversold but remain 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 1.3669 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at 1.3525. Second resistance is the 50-day moving average crossing at 1.3669. First support is today's low crossing at 1.3353. Second support is the 38% retracement level of the 2020-2021 rally crossing at 1.3223. 

The December Swiss Franc closed higher on Friday as it consolidates some of this week's decline. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends this week's decline, the October 12^th low crossing at 1.0754 is the next downside target. Closes above the 10-day moving average crossing at 1.0947 would signal that a short-term low has been posted. 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 October 12^th low crossing at 1.0754. Second support is September's low crossing at 1.0693. 

The December Canadian Dollar 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 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 29^th low crossing at 78.27 is the next downside target. Closes above the 20-day moving average crossing at 80.57 would signal that a short-term top has been posted. First resistance is the 20-day moving average crossing at 80.57. Second resistance is the June 26^th high crossing at 81.55. First support is today's low crossing at 79.33. Second support is the reaction low crossing at 79.05.   

The December Japanese Yen closed higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday’s night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends this week's decline, October's low crossing at 0.087215 is the next downside target. If December renews the rally off September's low, the 50-day moving average crossing at 0.089238 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 0.089238. 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 higher on Friday as it extends the rally off September's low.The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are 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 $1804.20 would confirm that a short-term top has been posted. First resistance is Wednesday'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 10-day moving average crossing at 1819.80. Second support is the 20-day moving average crossing at $1804.20.

December silver closed higher on Friday as it extends the rally off September's low. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. 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 24.217 would confirm that a short-term top has been posted. First resistance is today's high crossing at 25.470. Second resistance is August's high crossing at 26.130. First support is the 20-day moving average crossing at 24.217. Second support is the 50-day moving average crossing at 23.493.    

December copper closed higher on Friday as it extends the trading range of the past two-weeks.The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 445.60 would signal that a short-term low has been posted. If December renews the decline off October's high, October's low crossing at 405.85 is the next downside target. First resistance the 20-day moving average crossing at 445.60. 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 $0.07 3/4-cents at $5.77 1/4. 

December corn closed higher on Friday as it extended this week's rally. 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 renews the rally off October's low, August's high crossing at $5.94 1/4 is the next upside target. Closes below the 20-day moving average crossing at $5.54 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 $5.54 1/2. Second support is the 50-day moving average crossing at $5.37 1/2.     

December wheat closed up $0.04 1/2-cents at $8.17.  

December wheat closed higher on Friday as it extends the rally off March'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, monthly resistance crossing at $8.59 is the next upside target. Closes below the 20-day moving average crossing at $7.71 would signal that a short-term top has been posted.First resistance is today's high crossing at $8.26 3/4. Second resistance is monthly resistance crossing at $8.59. First support is the 20-day moving average crossing at $7.71. Second support is the 50-day moving average crossing at $7.40.

December Kansas City Wheat closed up $0.04 1/2-cents at $8.32 1/2.

December Kansas City wheat closed higher on Friday and posted a new high for the year. 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, monthly resistance crossing at $8.55 1/2 is the next upside target. Closes below the 20-day moving average crossing at $7.85 would confirm that a short-term top has been posted. First resistance is today's high crossing at $8.43 1/2. Second resistance is monthly resistance crossing at $8.55 1/2. First support is the 20-day moving average crossing at $7.85. Second support is the 50-day moving average crossing at $7.46.

December Minneapolis wheat closed down $0.03 1/4-cents at $10.50. 

December Minneapolis wheat posted an inside day with a lower close 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 have turned 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 $10.24 1/2 would signal that a short-term top has been posted. First resistance is November'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 $10.24 1/2. Second support is the 50-day moving average crossing at $9.59 1/2.  

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

January soybeans closed up $0.22 3/4-cents at $12.44 1/4.

January soybeans closed higher on Friday. Today's high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Multiple closes above the 50-day moving average crossing at $12.56 1/2 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 $12.56 1/2. 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 $16.80 at $361.30. 

December soybean meal closed sharply higher on Friday as it extends the rally off October's low. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are overbought, diverging but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off October's low, August's high crossing at $367.20 is the next upside target. Closes below the 20-day moving average crossing at $333.30 would signal that a short-term top has been posted. First resistance is August's high crossing at $367.20. Second resistance is the July 21st high crossing at $375.70. First support is the 20-day moving average crossing at $333.30. Second support is October's low crossing at $309.30.      

December soybean oil closed down 26 pts. at 58.88. 

December soybean oil 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. Multiple closes above the 20-day moving average crossing at 60.99 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 $0.35 at $75.73. 

December hogs closed higher on Friday. The mid-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at $77.41 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 50-day moving average crossing at $77.41. Second resistance is the October 18^th high crossing at $79.48. First support is October's low crossing at $71.77. Second support is September's low crossing at $71.27. 

December cattle closed down $0.10 at $131.78. 

December cattle closed lower on Friday. The low-range close sets the stage for a steady to lower opening on Monday. 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 20-day moving average crossing at $130.69 would signal that a short-term top has been posted. First resistance is today's high crossing at $132.63. 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 $1.70 at $157.38. 

November feeder cattle closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday's session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Today's decline filled the gap crossing at $157.15 signaling that a short-term top has been posted. 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 sharply higher on Friday and posted a new high for the year. 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 trading is possible near-term. Today's close above 215.15 marks an upside breakout of the October-November trading range. Closes below the 50-day moving average crossing at 198.77 would signal that a short-term top has been posted.  

December cocoa closed slightly lower on Friday.  The mid-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. Closes above the 20-day moving average crossing at 25.15 would signal that a low has been posted. If December renews the decline, the 87% retracement level of the July-October rally crossing at 23.54 is the next downside target. 

March sugar closed lower on Friday. The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off October's low, October's high crossing at 20.61 is the next upside target. Closes below the 20-day moving average crossing at 19.51 would signal that a short-term top has been posted. 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. 

December cotton closed lower on Friday. The mid-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. Closes below the 20-day moving average crossing at 113.82 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.