KEY EVENTS TO WATCH FOR:

Wednesday, December 1, 2021  

7:00 AM ET. MBA Weekly Mortgage Applications Survey

                       Composite Idx (previous 651.3)

                       Composite Idx, W/W% (previous +1.8%)

                       Purchase Idx-SA (previous 295.7)

                       Purchase Idx-SA, W/W% (previous +4.7%)

                       Refinance Idx (previous 2706.2)

                       Refinance Idx, W/W% (previous +0.4%)

8:15 AM ET. November ADP National Employment Report

                       Private Sector Jobs, Net Chg (previous +571000)

9:45 AM ET. November US Manufacturing PMI

                       PMI, Mfg (previous 58.4)

10:00 AM ET. October Construction Spending - Construction Put in Place

                       New Construction (previous -0.5%)

                       Residential Construction

10:00 AM ET. November ISM Report On Business Manufacturing PMI

                       Manufacturing PMI (previous 60.8)

                       Prices Idx (previous 85.7)

                       Employment Idx (previous 52.0)

                       Inventories (previous 57.0)

                       New Orders Idx (previous 59.8)

                       Production Idx (previous 59.3)

10:30 AM ET. EIA Weekly Petroleum Status Report

                       Crude Oil Stocks (Bbl) (previous 434.02M)

                       Crude Oil Stocks, Net Chg (Bbl) (previous +1.017M)

                       Gasoline Stocks (Bbl) (previous 211.393M)

                       Gasoline Stocks, Net Chg (Bbl) (previous -0.603M)

                       Distillate Stocks (Bbl) (previous 121.717M)

                       Distillate Stocks, Net Chg (Bbl) (previous -1.968M)

                       Refinery Usage (previous 88.6%)

                       Total Prod Supplied (Bbl/day) (previous 21.752M)

                       Total Prod Supplied, Net Chg (Bbl/day) (previous +0.123M)

11:00 AM ET. November Global Manufacturing PMI

                       PMI, Mfg (previous 54.3)

2:00 PM ET. U.S. Federal Reserve Beige Book

4:00 PM ET. November Domestic Auto Industry Sales

Thursday, December 2, 2021  

7:30 AM ET. November Challenger Job-Cut Report

                       Job Cuts, M/M% (previous +27.53%)

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

                       Jobless Claims (previous 199K)

                       Jobless Claims, Net Chg (previous -71K)

                       Continuing Claims (previous 2049000)

                       Continuing Claims, Net Chg (previous -60K)

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

                       Corn (Metric Tons)

                       Soybeans (Metric Tons)

                       Wheat (Metric Tons)

9:45 AM ET. Consumer Comfort Index

10:00 AM ET. SEC Investor Advisory Committee Quarterly Meeting

10:00 AM ET. October Metropolitan Area Employment & Unemployment

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

                       Working Gas In Storage (Cbf) (previous 3623B)

                       Working Gas In Storage, Net Chg (Cbf) (previous -21B)

12:00 PM ET. November Monthly U.S. Retail Chain Store Sales Index

4:30 PM ET. Foreign Central Bank Holdings

4:30 PM ET. Federal Discount Window Borrowings

Friday, December 3, 2021  

8:30 AM ET. November U.S. Employment Report

                       Non-Farm Payrolls (previous +531K)

                       Unemployment Rate (previous 4.6%)

                       Avg Hourly Earnings (USD)

                       Avg Hourly Earnings-Net Chg (USD)

                       Avg Hourly Earnings, M/M% (previous +0.4%)

                       Avg Hourly Earnings, Y/Y% (previous +4.9%)

                       Overall Workweek (previous 34.7)

                       Overall Workweek Net Chg (previous -0.1)

                       Government Payrolls (previous -73K)

                       Private Payroll (previous +604K)

                       Participation Rate (previous 61.6%)

                       Non-Farm Payrolls Bench Net Chg

9:45 AM ET. November US Services PMI

                       PMI, Services (previous 58.7)

10:00 AM ET. November ISM Report On Business Services PMI

                       Non-Mfg Composite Idx (previous 66.7)

                       Non-Mfg Business Idx (previous 69.8)

                       Prices Idx (previous 82.9)

                       Employment Idx (previous 51.6)

                       New Orders Idx (previous 69.7)

10:00 AM ET. October Manufacturers' Shipments, Inventories & Orders (M3)

                       Total Orders, M/M% (previous +0.2%)

                       Orders, Ex-Defense, M/M% (previous -0.5%)

                       Orders, Ex-Transport, M/M% (previous +0.7%)

                       Durable Goods, M/M%

11:00 AM ET. November Global Services PMI

                       PMI, Services (previous 55.6)

N/A               Latest deadline for new funding deal to avert U.S. Govt shutdown  

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

The STOCK INDEXES: The December NASDAQ 100 was higher overnight as it extends the trading range of the past five-days.Overnight strength sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If December renews the decline off November's high, the 50-day moving average crossing at 15,603.84 is the next downside target. Closes above November's high crossing at 16,767.50 would mark a resumption of this year's rally. First resistance is November's high crossing at 16,767.50. Second resistance is unknown. First support the November 10^th low crossing at 15,896.50. Second support is the 50-day moving average crossing at 15,603.84.

The December S&P 500 was higher overnight as it consolidates some of the decline off November's high. Overnight trading sets the stage for a higher opening when the day session begins trading later this morning. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off November's high crossing at 4740.50, the 50-day moving average crossing at 4534.19 is the next downside target. Closes above last-Friday's high crossing at 4717.00 would signal that a short-term low has been posted. First resistance is last-Friday's high crossing at 4717.00. Second resistance is the November 22^nd high crossing at 4740.50. First support is Tuesday's low crossing at 4557.00. Second support is the 50-day moving average crossing at 4534.19. 

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

INTEREST RATES: March T-bonds were lower overnight as they consolidates some of the rally off last-Wednesday's low. Overnight trading sets the stage for a 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. If March extends the aforementioned rally, September's high crossing at 163-27 is the next upside target. Closes below the 50-day moving average crossing at 158-27 are needed to signal that a short-term top has been posted. First resistance is November's high crossing at 162-13. Second resistance is September's high crossing at 163-27. First support is the 20-day moving average crossing at 159-30. Second support is the 50-day moving average crossing at 158-27.

March T-notes was lower overnight as it consolidated some of the rally off last-Wednesday's low. Overnight trading sets the stage for a lower opening with the day session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the aforementioned rally, the 50% retracement level of the August-November decline crossing at 131.171. Closes below the 10-day moving average crossing at 129.276 would signal that a short-term top has been posted. First resistance is Tuesday's high crossing at 131.100. Second resistance is the 50% retracement level of the August-November decline crossing at 131.171. First support is the 10-day moving average crossing at 129.276. Second support is November's low crossing at 128.225.   

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

ENERGIES:January crude oil was higher overnight as it consolidates some of the decline off October's high. Overnight strength sets the stage for 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 January extends the decline off October's high, the 87% retracement level of the August-October rally crossing at $63.75 is the next downside target. Closes above the 20-day moving average crossing at $76.97 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $73.90. Second resistance is the 20-day moving average crossing at $76.97. First support is the 75% retracement level of the August-October rally crossing at $66.52. Second support is the 87% retracement level of the August-October rally crossing at $63.75.

January heating oil was higher overnight as it consolidated some of the decline off October's high. 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 January extends the decline off October's high, the 87% retracement level of the August-October rally crossing at $1.9823 is the next downside target. Closes above the 20-day moving average crossing at $2.3419 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at $2.2559. Second resistance is the 20-day moving average crossing at $2.3420. First support is the 75% retracement level of the August-October rally crossing at $2.0656. Second support is the 87% retracement level of the August-October rally crossing at $1.9823.  

January unleaded gas was higher overnight as it consolidated some of the decline off October's high. The high-range trade overnight sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If January extends the decline off October's high, the 87% retracement level of the August-October rally crossing at 1.8665 is the next downside target. Closes above the 20-day moving average crossing at 2.2080 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at 2.1361. Second resistance is the 20-day moving average crossing at 2.2080. First support is the 75% retracement level of the August-October rally crossing at 1.9434. Second support is the 87% retracement level of the August-October rally crossing at 1.8665.

January Henry natural gas was lower overnight as it extends Tuesday's downside breakout of the trading range of the past four-weeks. Overnight trading sets the stage for a 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 January extends the decline off October's high, the 62% retracement level of the 2020-2021-rally crossing at 4.137 is the next downside target. Closes above the 50-day moving average crossing at 5.503 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at 4.939. Second resistance is the 20-day moving average crossing at 5.133. First support is the 62% retracement level of the 2020-2021-rally crossing at 4.137. Second support is August's low crossing at 4.009.     

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

CURRENCIES:The December Dollar was steady to slightly higher overnight. 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 $95.59 would signal that a short-term top has been posted. If December renews the rally off September's low, the June-2020 high on the weekly continuation chart crossing at $97.81 is the next upside target. First resistance is November's high crossing at $96.94. Second resistance is the June-2020 high on the weekly continuation chart crossing at $97.81. First support is the 20-day moving average crossing at $95.59. Second support is the 50-day moving average crossing at $94.56.

The December Euro was steady to slightly lower overnight as it consolidates some of the rally off November's low.The low-range overnight trade sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at $113.97 would signal that a short-term low has been posted. If December renews the decline off September's high, the 87% retracement level of the 2020-2021-rally crossing at $110.60 is the next downside target. First resistance is the 20-day moving average crossing at $113.97. Second resistance is the 50-day moving average crossing at $115.37. First support is November's low crossing at $111.90. Second support is the 87% retracement level of the 2020-2021-rally crossing at $110.60.

The December British Pound was higher overnight as it consolidates some of the decline off May's high. Overnight trading sets the stage for a steady to higher opening when the day session beings trading. Stochastics and the RSI are oversold but are turning neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 1.3429 would signal that a short-term low has been posted. If December extends the decline off October's high, the 50% retracement level of the 2020-2021-rally crossing at 1.2906 is the next downside target.First resistance the 20-day moving average crossing at 1.3429. Second resistance is the 50-day moving average crossing at 1.3572. First support is the 38% retracement level of the 2020-2021-rally crossing at 1.3223. Second support is the 50% retracement level of the 2020-2021-rally crossing at 1.2906.

The December Swiss Franc was lower overnight as it consolidates some of the rally off last-Wednesday's low. Overnight trading 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 possible near-term. If December extends the rally off last-Wednesday's low, November's high crossing at 1.1017 is the next downside target. Closes below the 10-day moving average crossing at 1.0791 would signal that a short-term top has been posted. First resistance is November's high crossing at 1.1017. Second resistance is August's high crossing at 1.1103. First support is the 10-day moving average crossing at 1.0791. Second support is last-Wednesday's low crossing at 1.0673. 

The December Canadian Dollar was higher overnight. 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 signaling that sideways to lower prices are possible near-term. If December extends the decline off October's high, September's low crossing at $77.53 is the next downside target. Closes above the 20-day moving average crossing at $79.40 would signal that a low has been posted. First resistance is the 10-day moving average crossing at $78.74. Second resistance is the 20-day moving average crossing at $79.40. First support is Tuesday's low crossing at $77.89. Second support is September's low crossing at $77.53. 

The December Japanese Yen was lower overnight as it consolidates some of the rally off last- Wednesday's low. Overnight trading 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 50-day moving average crossing at 0.088381 would confirm that a short-term low has been posted. Closes below the 10-day moving average crossing at 0.087649 would signal that a short-term top has been posted. First resistance is the 50-day moving average crossing at 0.088381. Second resistance is the 50% retracement level of the August-November decline crossing at 0.089293. First support is the 10-day moving average crossing at 0.087649. Second support is last-Wednesday's low crossing at 0.086565. 

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

PRECIOUS METALS: Februarygold was 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If February extends the aforementioned decline, November's low crossing at $1761.00 is the next downside target. Closes above the 20-day moving average crossing at $1823.50 would signal that a short-term low has likely been posted. First resistance is the 20-day moving average crossing at $1823.50. Second resistance is November's high crossing at $1881.90. First support is the November 3^rd low crossing at $1761.00. Second support is September's low crossing at $1723.70.

March silver was steady to slightly higher overnight. The mid-range trade sets the stage for a steady to higher opening when the day session begins trading later this morning. 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 October 12^th low crossing at $22.380 is the next downside target. Closes above the 20-day moving average crossing at 24.212 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at $24.212. Second resistance is November's high crossing at $25.540. First support is the overnight low crossing at $22.655. Second support is the October 12^th low crossing at $22.325.  

March copper was higher overnight as it consolidates some of the decline off last-Friday'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 neutral to bearish signaling that sideways to higher prices are possible near-term. If March extends the decline off last-Friday's high, November's low crossing at 4.2000 is the next downside target. Closes above last-Friday's high crossing at 4.5115 would confirm that a short-term low has been posted. First resistance is last-Friday's high crossing at 4.5115. Second resistance is October's high crossing at 4.8230. First support is November's low crossing at 4.2000. Second support is the September 30^th low crossing at 4.0400.

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

March corn was higher overnight as it consolidates some of Tuesday's sharp decline. The high-range trade overnight sets the stage for a steady to higher opening when the day sessions begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at $5.58 3/4 would mark a downside breakout of the November-December trading range and would open the door for additional weakness possibly into the end of the year. If March renews the rally off October's low, August's high crossing at $5.99 3/4 is the next upside target. First resistance is November's high crossing at $5.96 3/4. Second resistance is August's high crossing at $5.99 3/4. First support is Tuesday's low crossing at $5.62 1/2. Second support is 50-day moving average crossing at $5.58 3/4.    

March wheat was 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 remain neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at $7.79 3/4 would open the door for additional weakness near-term. Closes above the 10-day moving average crossing at $8.31 3/4 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at $8.18 1/2. Second resistance is the 10-day moving average crossing at $8.31 3/4. First support is the 50-day moving average crossing at $7.79 3/4. Second support is the July-September uptrend line crossing near $7.65.

March Kansas City wheat was 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 neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the aforementioned decline, the 50-day moving average crossing at $7.85 1/4 is the next downside target. If March renews this year's rally, the September-2012 high on the monthly continuation chart crossing at $9.50 3/4 is the next upside target. First resistance is November's high crossing at $8.92 1/4. Second resistance is the September-2012 high on the monthly continuation chart crossing at $9.50 3/4. First support is Tuesday's low crossing at $8.15. Second support is the 50-day moving average crossing at $7.85 1/4.

March Minneapolis wheat was higher overnight as it extends the trading range of the past five-weeks. Overnight trading sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the reaction 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 $10.66 1/4. Second resistance is weekly resistance crossing at $11.20. First support is November's low crossing at $9.91 3/4. Second support is the 50-day moving average crossing at $9.82.  

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

January soybeans was higher overnight as it consolidated some of the decline off November's high. Overnight trading set the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If January extends the decline off November's high, November's low crossing at $11.81 1/4 is the next downside target. Closes above the 10-day moving average crossing at $12.55 1/2 would signal that a short-term low has been posted. First resistance is November's high crossing near $12.89 1/4. Second resistance is October's high crossing at $13.17. First support is Tuesday's low crossing at $12.14 1/4. Second support is November's low crossing at $11.81 1/4.  

March soybean meal was slightly lower overnight. Overnight trading 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 March extends the decline off November's high, the 50-day moving average crossing at $336.50 is the next downside target. Closes above the 10-day moving average crossing at $352.10 would confirm that a short-term low has been posted. First resistance is the 62% retracement level of the May-October decline crossing at $372.80. Second resistance is the 75% retracement level of the May-October decline crossing at $385.40. First support is the 50-day moving average crossing at $336.50. Second support is the November 8^th low crossing at $325.90. 

March soybean oil was higher overnight as it consolidated some of Tuesday's sharp decline. 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. March extends the decline off October's high, September's low crossing at 54.30 is the next downside target. If Closes above the 50-day moving average crossing at 59.24 would signal that a short-term low has been posted. First resistance is last Wednesday's high crossing at 61.44. Second resistance is October's high crossing at 63.29. First support is Tuesday's low crossing at 54.82. Second support is September's low crossing at 54.30.       

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

February hogs closed down $0.88 at $80.05. 

February hogs closed lower on Tuesday and below the 20-day moving average crossing at $80.92 signaling that a short-term top has been posted. The mid-range close sets the stage for a steady to lower opening when Wednesday's session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If February extends the decline off November's high crossing at $84.68, the November 10^th low crossing at $77.67 is the next downside target. Closes above the 10-day moving average crossing at $82.49 would signal that a short-term low has been posted. First resistance is last-Friday's high crossing at $84.68. Second resistance is October's high crossing at $87.48. First support is the November 10^th low crossing at $77.67. Second support is November's low crossing at $77.10. 

February cattle closed down $1.40 at $137.90. 

February cattle closed lower on Tuesday. The low-range close sets the stage for a steady to lower opening on Wednesday. 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 $137.47 would signal that a short-term top has been posted. If February renews this fall's rally, the March 2016 high on the continuation chart crossing at $141.90 is the next upside target. First resistance is last-Friday's high crossing at $141.85. Second resistance is the March 2016 high on the continuation chart crossing at $141.90. First support is the 20-day moving average crossing at $137.47. Second support is the 50-day moving average crossing at $135.25. 

January Feeder cattle closed down $1.05 at $164.67. 

January feeder cattle closed lower on Tuesday. The low-range close sets the stage for a steady to lower opening when Wednesday's session begins trading. 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 $160.93 would signal that a short-term top has been posted. If January extends the rally off November's low, September's high crossing at $170.45 is the next upside target. First resistance is Monday's high crossing at $168.30. Second resistance is September's high crossing at $170.45. First support is the 10-day moving average crossing at $163.10. Second support is the 20-day moving average crossing at $160.93. 

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

March coffee closed lower on Tuesday. The mid-range close sets the stage for a steady to lower opening on Wednesday. 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 20-day moving average crossing at 223.38 would signal that a short-term top has been posted. If March extends this year's rally, weekly resistance crossing at 258.65 is the next upside target.   

March cocoa closed lower on Tuesday as it extends the decline off October's high.  The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off October's high July's low crossing at 23.13 is the next upside target. Closes above last-Friday's gap crossing at 24.95 would signal that a low has been posted.  

March sugar closed lower on Tuesday as it extends the decline off November's high. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the aforementioned decline, August's low crossing at 18.31 is the next downside target. Closes above the 20-day moving average crossing at 19.77 would signal that a short-term low has been posted. 

March cotton gapped down and closed sharply lower on Tuesday. Today's close below the 50-day moving average crossing at 107.98 confirms that a short-term top has been posted. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends today's decline, October's low crossing at 101.31 is the next downside target. Closes above today's gap crossing at 111.11 would signal that a low has been posted.