KEY EVENTS TO WATCH FOR:

Friday, November 19, 2021  

10:00 AM ET. October State Employment and Unemployment

10:00 AM ET. 3^rd Quarter Advance Quarterly Services

Monday, November 22, 2021   

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

                       NAI (previous -0.13)

                       NAI, 3-mo Moving Avg (previous 0.25)

10:00 AM ET. October Existing Home Sales

                       Existing Sales (previous 6.29M)

                       Existing Sales, M/M% (previous +7.0%)

                       Unsold Homes Month's Supply (previous 2.4)

                       Median Price (USD) (previous 352800)

                       Median Home Price, Y/Y% (previous +13.3%)

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

The STOCK INDEXES: The December NASDAQ 100 was steady to higher overnight. Overnight strength sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December renews the rally off October's low into uncharted territory, upside targets will be hard project. Closes below the 20-day moving average crossing at 16,072.40 would signal that a short-term top has been posted. First resistance is the overnight high crossing at 16,590.00. Second resistance is unknown. First support the 20-day moving average crossing at 16,072.40. Second resistance is the 50-day moving average crossing at 15,465.99.

The December S&P 500 was steady to lower overnight.Overnight trading sets the stage for a steady to lower opening when the day session begins trading later this morning. Stochastics and the RSI are overnight, 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 into uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average crossing at 4644.32 would signal that a short-term top has been posted. First resistance is the overnight high crossing at 4723.50. Second resistance is unknown. First support is the 20-day moving average crossing at 4644.32. Second support is the 50-day moving average crossing at 4502.97. 

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

INTEREST RATES: December T-bonds were higher overnight as it consolidates some of the decline off November's high. Overnight trading sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 10-day moving average crossing at 161-14 would signal that a short-term low has been posted. If December extends the decline off November's high, the October 29^th low crossing at 159-15 is the next downside 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 October 29^th low crossing at 159-15. Second support is October's low crossing at 157-03.

December T-notes were higher overnight as it consolidates some of the decline off November's high. Overnight strength sets the stage for a steady to higher opening with the day session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 130.265 would signal that a short-term low has been posted. If December resumes the aforementioned decline, October's low crossing at 129.310 is the next downside target. First resistance is the 20-day moving average crossing at 130.265. Second resistance is November's high crossing at 131.305. First support is October's low crossing at 129.310. Second support is weekly support on the weekly continuation chart crossing at 129.035.  

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

ENERGIES:December crude oil was lower overnight as it extends the decline off October's high. Overnight weakness sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are becoming oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the aforementioned decline, the 38% retracement level of the August-October rally crossing at $76.18 is the next downside target. Closes above the 20-day moving average crossing at $81.59 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at $81.59. Second resistance is October's high crossing at $85.41. First support is the 38% retracement level of the August-October rally crossing at $76.18. Second support is the October 7^th low crossing at $74.67.

December heating oil was lower overnight as it extends the decline off October's high. 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 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 August-October rally crossing at $2.2450 is the next downside target. Closes above the 20-day moving average crossing at $2.4530 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at $2.4156. Second resistance is the 20-day moving average crossing at $2.4530. First support is the 50% retracement level of the August-October rally crossing at $2.2450. Second support is the September 21^st low crossing at 2.1350.  

December unleaded gas was lower overnight as it extends the decline off October's high. The low-range trade overnight 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. Closes below the 50-day moving average crossing at 2.2739 opens the door for a test of the 38% retracement level of the August-October rally crossing at 2.2107. Closes above the 20-day moving average crossing at 2.3450 would signal that a short-term low has been posted. First resistance is last-Wednesday's high crossing at 2.3977. Second resistance is October's high crossing at 2.4684. First support is the 38% retracement level of the August-October rally crossing at 2.2107. Second support is the 50% retracement level of the August-October rally crossing at 2.1312.

December Henry natural gas was higher overnight as it extends the trading range of the past seven-days. Overnight trading 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 October's high, the 50% retracement level of the 2020-2021-rally crossing at 4.521 is the next downside target. Closes above the 50-day moving average crossing at 5.478 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at 5.478. Second resistance is the November 4^th high crossing at 5.876. First support is Monday's low crossing at 4.713. Second support is the 50% retracement level of the 2020-2021-rally crossing at 4.521.    

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

CURRENCIES:The December Dollar was higher overnight. 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 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 $94.56 would signal that a short-term top has been posted. First resistance is Wednesday's high crossing at $96.27. 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 10-day moving average crossing at $95.18. Second support is the 20-day moving average crossing at $94.56.

The December Euro was 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 75% retracement level of the 2020-2021-rally crossing at $112.48 is the next downside target. Closes above the 20-day moving average crossing at $115.18 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $114.30. Second resistance is the 20-day moving average crossing at $115.18. First support is Wednesday's low crossing at $112.68. Second support is the 75% retracement level of the 2020-2021-rally crossing at $112.48.

The December British Pound was lower overnight. Overnight weakness sets the stage for a steady to lower opening when the day session beings trading. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 1.3632 would signal that a short-term low has been posted. If December extends the decline off October's high, the 38% retracement level of the 2020-2021-rally crossing at 1.3223 is the next downside target.First resistance the 20-day moving average crossing at 1.3565. Second resistance is the 50-day moving average crossing at 1.3632. First support is last-Friday'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 was steady to higher overnight as it consolidates some of the decline off November's high. Overnight trading sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices possible near-term. Closes above the 20-day moving average crossing at 1.0902 would signal that a short-term low has been posted. If December extends the aforementioned decline, September's low crossing at 1.0693 is the next downside target. First resistance is the 50-day moving average crossing at 1.0855. Second resistance is the 20-day moving average crossing at 1.0902. First support is Wednesday's low crossing at 1.0725. Second support is September's low crossing at 1.0693.  

The December Canadian Dollar was lower overnight as it extends the decline off October's high. Overnight trading sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are oversold but remain neutral signaling that sideways to lower prices are possible near-term. If December extends the decline off October's high, the September 29^th low crossing at $78.27 is the next downside target. Closes above the 20-day moving average crossing at $80.20 would signal that a low has been posted. First resistance is the 10-day moving average crossing at $79.72. Second resistance is the 20-day moving average crossing at $80.20. First support is the overnight low crossing at $79.00. Second support is the September 29^th low crossing at $78.27.

The December Japanese Yen was steady to higher overnight. Overnight trading 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 a low might be in or is near. Closes above the 20-day moving average crossing at 0.087863 would signal that a short-term low has been posted. If December extends the decline off November's high, long-term support on the monthly continuation chart crossing at 0.084932 is the next downside target. First resistance is the 20-day moving average crossing at 0.087863. Second resistance is November's high crossing at 0.088735. First support is November's low crossing at 0.086990. Second support is long-term support on the monthly continuation chart crossing at 0.084932.

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 six-days. 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 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 $1825.00 would signal that a short-term top has been posted. First resistance is Tuesday's high crossing at $1879.50. 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 $1855.50. Second support is the 20-day moving average crossing at $1825.00.

December silver was steady to lower overnight. The low-range trade 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. Closes below the 20-day moving average crossing at $24.450 would signal that a short-term top has been posted. If December extends the rally off September's low, August's high crossing at $26.130 is the next upside target. First resistance is Tuesday's high crossing at $25.490. Second resistance is August's high crossing at $26.130. First support is the 20-day moving average crossing at $24.450. Second support is November's low crossing at $23.045.  

December copper was higher overnight as it consolidates some of the decline off October's high. The mid-range overnight trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above Monday's high crossing at 4.4890 would signal that a short-term low has been posted. If December extends the decline off October's low, October's low crossing at 4.0585 is the next downside target. First resistance is Monday's high crossing at 4.4890. Second resistance is October's high crossing at 4.8230. First support is the September 30^th low crossing at 4.0545. Second resistance is September's low crossing at 4.0160.  

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

December corn was lower overnight. The low-range trade overnight sets the stage for a steady to lower opening when the day sessions 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 $5.64 would signal that a short-term top has been posted. Closes above November's high crossing at $5.86 would confirm an upside breakout of the May-June downtrend line while opening the door for additional gains near-term. First resistance is 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 $5.64. Second support is 50-day moving average crossing at $5.43 1/2.   

December wheat was lower overnight as it consolidates some of the rally off July's low. Overnight trading sets the stage for a steady to lower opening when the day 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 $7.89 3/4 would signal that a short-term top has been posted. If December extends this year's rally, monthly resistance crossing at $8.59 is the next upside target. First resistance is Thursday's high crossing at $8.43 1/4. Second resistance is monthly resistance crossing at $8.59. First support is the 10-day moving average crossing at $8.07. Second support is the 20-day moving average crossing at $7.89 3/4.

December Kansas City wheat was 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 turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at $8.03 1/4 would signal that a short-term top has been posted. If December extends this year's rally, the May-2014 high on the monthly continuation chart crossing at $8.55 1/2 is the next upside target.First resistance is the overnight high crossing at $8.49 3/4. Second resistance is the May-2014 high on the monthly continuation chart crossing at $8.55 1/2. First support is the20-day moving average crossing at $8.03 1/4. Second support is November's low crossing at $7.74. 

December Minneapolis wheat was lower overnight. 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. Closes below Tuesday's low crossing at $9.99 would signal 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, weekly resistance crossing at $11.20 is the next upside target. First resistance is November's high crossing at $10.86 1/2. Second resistance is weekly resistance crossing at $11.20. First support is Tuesday's low crossing at $9.99. Second support is the 50-day moving average crossing at $9.72 1/4.  

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

January soybeans were lower overnight as it consolidates some of the rally off November's low. Overnight trading set the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are overbought and are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 10-day moving average crossing at $12.39 would signal that a short-term top has likely been posted. Wednesday's close above the June-August downtrend line signals that a short-term trend change has taking place while opening the door for a possible test of October's high crossing at $13.17. First resistance is Wednesday's high crossing near $12.89 1/4. Second resistance is October's high crossing at $13.17. First support is the 10-day moving average crossing at $12.39. Second support is November's low crossing at $11.81 1/4.  

December soybean meal was lower overnight as it consolidates some of the rally off October's low. Overnight weakness sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are overbought, diverging and are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at $345.00 would signal that a short-term top has been posted. If December extends the rally off October's low, the 62% retracement level of the May-October decline crossing at $383.30 is the next upside target. First resistance is Wednesday's high crossing at $382.00. Second resistance is the 62% retracement level of the May-October decline crossing at $383.30. First support is the 10-day moving average crossing at $357.60. Second support is the 20-day moving average crossing at $345.00. 

December soybean oil was lower overnight as it extends the trading range of the past two-weeks. Overnight weakness sets the stage for a steady to lower 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 20-day moving average crossing at 60.02 would signal that a short-term low has been posted. If December renews the decline off October's high, September's low crossing at 54.18 is the next downside target. First resistance is the November 3^rd high crossing at 62.44. Second resistance is October's high crossing at 65.00. First support is the September 29^th low crossing at 57.02. Second support is September's low crossing at 54.18.