KEY EVENTS TO WATCH FOR:

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 Dow closed lower on Wednesday as it extended the decline off November's high. The low-range close sets the stage for a steady to lower opening when Thursday's session begins trading. The low-range close sets the stage for a steady to lower opening when Wednesday's 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 the Dow extends the aforementioned decline, September's low crossing at 33,613.03 is the next downside target. Closes above last-Friday's gap crossing at 35,591.03 would signal that a short-term low has been posted. First resistance is last-Friday's gap crossing at 35,591.03. Second resistance is the 20-day moving average crossing at 35,766.97. First support is September's low crossing at 33,613.03. Second support is June's low crossing at 33,271.93.

The December NASDAQ 100 closed sharply lower on Wednesday as it renewed the decline off November's high. The low-range close sets the stage for a steady to lower opening when Thursday's 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 low, the 50-day moving average crossing at 15,599.08 is the next downside target. If December renews the rally off October's low, upside targets will be hard to project. First resistance is November's high crossing at 16,767.50. Second resistance is unknown. First support is today's low crossing at 15,825.25. Second support is the 50-day moving average crossing at 15,599.08.

The December S&P 500 was sharply lower on Wednesday and below the 50-day moving average crossing at 4532.03. The low-range close sets the stage for a steady to lower opening when Thursday's session begins trading. Stochastics and the RSI are neutral to bearish signaling sideways to lower prices are possible near-term. If December extends today's decline, the October 12^th low crossing at 4317.25. First resistance is the 20-day moving average crossing at 4376.41. Second resistance is November's high crossing at 4740.50. First support is today's low crossing at 4497.75. Second support is the October 12^th low crossing at 4317.25.    

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

March T-bonds closed up 18/32's at 162-22 

March T-bonds closed higher on Wednesday as it extended the rally off last-Wednesday's low. 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 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 would temper today's gains. First resistance is today's high crossing at 162-14. Second resistance is the September high crossing at 163-27. First support is last-Wednesday's low crossing at 157-12. Second support is October's low crossing at 155-26.  

March T-notes closed up 75-pts at 131.020.

March T-notes closed higher on Wednesday as extends the rally off November's low. 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 sideways to higher prices are possible near-term. If March extends the rally off November's low, the 50% retracement level of the August-November decline crossing at 131.171 is the next upside target. Closes below the 10-day moving average crossing at 129.294 would signal that a short-term top has been posted. First resistance is the 50% retracement level of the August-November decline crossing at 131.171. Second resistance is the 62% retracement level of the August-November decline crossing at 132.065. First support is the 10-day moving average crossing at 129.294. Second support is November's low crossing at 128.225. 

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

January crude oil closed lower on Wednesday as it extends the decline off November's high.The low-range close sets the stage for a steady to lower opening when Thursday's night session begins. 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 $76.78 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $73.53. Second resistance is the 20-day moving average crossing at $76.78. First support is the 87% retracement level of the August-October rally crossing at $63.75. Second support is August's low crossing at $60.77. 

January heating oil posted an inside day with a slightly higher close 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 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 $198.23 is the next downside target. Closes above the 20-day moving average crossing at $233.79 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $224.76. Second resistance is the 20-day moving average crossing at $233.79. First support is the 75% retracement level of the August-October rally crossing at $206.56. Second support is the 87% retracement level of the August-October rally crossing at $198.23

January unleaded gas posted an inside day with a slightly higher close 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 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 $186.65 is the next downside target. Closes above the 20-day moving average crossing at $220.39 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at $212.79. Second resistance is the 20-day moving average crossing at $220.39. First support is the 75% retracement level of the August-October rally crossing at $194.34. Second support is the 87% retracement level of the August-October rally crossing at $186.65.    

January Henry natural gas closed lower on Wednesday as it extended the 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 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 20-day moving average crossing at 5.125 would signal that a low has been posted. First resistance is the 10-day moving average crossing at 4.921. Second resistance is the 20-day moving average crossing at 5.125. First support is the 62% retracement level of the 2020-2021-rally crossing at 4.137. Second support is the 75% retracement level of the 2020-2021-rally crossing at 3.593.   

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

The December Dollar posted an inside day with a higher close on Wednesday as it consolidates some of Tuesday's decline. 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 bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at $95.59 would confirm that a short-term top has been posted. If December resumes 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 $94.57. 

The December Euro posted an inside day with a lower close 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 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 confirm that a low has been posted. If December resumes this year's decline, 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 last-Wednesday'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 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 oversold but remain neutral to bearish signaling that sideways to lower prices are still possible. If December extends this year's decline, the 50% retracement level of the 2020-2021 rally crossing at 1.2906 is the next downside target. Closes above the 20-day moving average crossing at 1.3427 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 1.3427. Second resistance is the 50-day moving average crossing at 1.3571. 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 posted an inside day with a lower close on Wednesday but remain above the 20-day moving average crossing at 1.0850 signaling that a short-term low has been posted. 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 bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off November's low, November's high crossing at 1.1017 is the next upside target. Closes below the 10-day moving average crossing at 1.0792 would signal that a short-term top has been posted. First resistance is Tuesday's high crossing at 1.0924. Second resistance is November's high crossing at 1.1017. First support is November's low crossing at 1.0673. Second support is March's low crossing at 1.0654. 

The December Canadian Dollar closed 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 September 29^th low crossing at 78.27 is the next downside target. Closes above the 20-day moving average crossing at 79.37 would signal that a short-term top has been posted. First resistance is the 20-day moving average crossing at 79.37. Second resistance is the November 16^th high crossing at 80.05. First support is Tuesday's low crossing at 77.90. Second support is September's low crossing at 77.53.

The December Japanese Yen closed higher on Wednesday as it extended the rally off last-Wednesday's low. 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. Multiple closes above the 50-day moving average crossing at 0.088390 would confirm that a low has been posted. If December renews this year's decline, the December-2016 low on the monthly continuation chart crossing at 0.084275 is the next downside target. First resistance is Tuesday's high crossing at 0.088870. 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 0.087689. Second support is November's low crossing at 0.086565.

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

February gold closed higher on Wednesday as it consolidated some of the decline off November'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 but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off November's high, November's low crossing at $1761.00 is the next downside target. Closes above the 20-day moving average crossing at $1823.10 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at $1823.10. Second resistance is November's high crossing at $1881.90. First support is November's low crossing at 1761.00. Second support is September's low crossing at $1723.70.

March silver closed lower on Wednesday as it extended the decline off November'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 March extends the decline off November's high, September's low crossing at 21.460 is the next downside target. Closes above the 20-day moving acreage crossing at 24.180 would confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 23.626. Second resistance is the 20-day moving average crossing at 24.180. First support is today's low crossing at 22.185. Second support is the October 12^th low crossing at 22.380.    

March copper 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 neutral to bearish signaling that sideways to lower prices are possible near-term. If March renews the decline off October's high, September's low crossing at 401.30 is the next downside target. If March resumes the rally off November's low, October's high crossing at 477.70 is the next upside target. First resistance is last-Friday's high crossing at 451.15. Second resistance is October's high crossing at 477.70. First support is November's low crossing at 420.00. Second support is September's low crossing at 401.30.  

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

March Corn closed down $0.04-cents at $5.71 1/2. 

March corn posted an inside day with a higher close on Wednesday but remain below the 20-day moving average crossing at $5.76 3/4. 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 bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off last-Wednesday's high, the 50-day moving average crossing at $5.58 3/4 is the next downside target. Closes above the 10-day moving average crossing at $5.80 3/4 would signal that a short-term low has been posted. First resistance is August's high crossing at $5.99 3/4. Second resistance is July's high crossing at $6.16 1/2. First support is the 50-day moving average crossing at $5.58 3/4. Second support is October's low crossing at $5.16 1/4.     

March wheat closed up $0.03 1/4-cents at $7.90 1/2.  

March wheat posted an inside day with a higher close on Wednesday as it consolidated some of Tuesday's decline. 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 March extends the aforementioned decline, the 50-day moving average crossing at $7.79 3/4 is the next downside target. Closes above the 10-day moving average crossing at $8.31 would signal that a short-term low has been posted.First resistance is the 20-day moving average crossing at $8.18 1/4. Second resistance is the 10-day moving average crossing at $8.31. First support is the 50-day moving average crossing at $7.79 3/4. Second support is October's low crossing at $7.25 3/4.

March Kansas City Wheat closed down $0.03-cents at $8.19 1/4.

March Kansas City wheat 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 neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends this week's decline, the 50-day moving average crossing at $7.85 is the next downside target. If March renews the rally off September's low, psychological resistance crossing at $9.00 is the next upside target. First resistance is last-Wednesday's high crossing at $8.92 1/4. Second resistance is psychological resistance crossing at $9.00. First support is today's low crossing at $8.11 1/4. Second support is the 50-day moving average crossing at $7.85.

March Minneapolis wheat closed up $0.09 3/4-cents at $10.19 3/4. 

March Minneapolis wheat closed higher on Wednesday as it extends November's trading range. 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 bearish signaling that sideways to lower prices are possible near-term. Closes below the November low crossing at $9.91 3/4 would confirm that a short-term top has been posted. If March renews this year's rally, monthly resistance on the continuation chart crossing at $11.20 is the next upside target. 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 November's low crossing at $9.91 3/4. Second support is the 50-day moving average crossing at $9.81 3/4.  

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

January soybeans closed up $0.11-cents at $12.28 1/4.

January soybeans posted an inside day with a higher close on Wednesday as it consolidated some of the decline off November's high. Today's 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 bearish signaling that sideways to lower prices are possible near-term. If January extends the aforementioned decline, 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 3/4 would signal that a short-term low has been posted. First resistance is November's high crossing at $12.89 1/4. Second resistance is September'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.

January soybean meal closed up $7.90 at $349.70. 

January soybean meal closed higher on Wednesday as it consolidated some of the decline off November's high. 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 bearish signaling that sideways to lower prices are possible near-term. If January extends the aforementioned decline, the 50-day moving average crossing at $336.20 is the next downside target. Closes above the 10-day moving average crossing at $355.10 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $355.10. Second resistance is November's high crossing at $375.90. First support is the 50-day moving average crossing at $336.20. Second support is the November 8^th low crossing at $326.80.      

January soybean oil closed down 16 pts. at 55.05. 

January soybean oil closed 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 January extends the decline off October's high, September's low crossing at 54.25 is the next downside target. Closes above the 50-day moving average crossing at 59.62 would signal that a short-term low has been posted. First resistance is November's high crossing at 62.10. Second resistance is October's high crossing at 64.31. First support is Wednesday's low crossing at 54.68. Second support is September's low crossing at 54.25.  

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

February hogs closed up $0.03 at $80.00. 

February hogs posted an inside day with a slightly higher close on Wednesday. The mid-range close sets the stage for a steady to lower opening when Thursday'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, the November 10^th low crossing at $77.67 is the next downside target. Closes above the 10-day moving average crossing at $82.14 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 up $0.80 at $138.70. 

February cattle closed higher on Wednesday. The low-range close sets the stage for a steady to lower opening on Thursday. 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 $137.65 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 $137.65. Second support is the 50-day moving average crossing at $135.40. 

January Feeder cattle closed up $1.28 at $166.13. 

January feeder cattle posted an inside day with a higher close on Wednesday. The high-range close sets the stage for a steady to higher opening when Thursday's 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 $161.39 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 $163.81. Second support is the 20-day moving average crossing at $161.39. 

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

March coffee closed slightly lower on Wednesday. The low-range close sets the stage for a steady to lower opening on Thursday. 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 224.50 would signal that a short-term top has been posted. If March renews this year's rally, weekly resistance crossing at 258.65 is the next upside target.   

March cocoa closed slightly higher on Wednesday as it consolidated some of the decline off October's high.  The mid-range close sets the stage for a steady to higher opening on Thursday. 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 downside target. Closes above last-Friday's gap crossing at 24.95 would signal that a low has been posted.  

March sugar closed unchanged on Wednesday as it consolidates some of the decline off November's high. The low-range close sets the stage for a steady to lower opening on Thursday. 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 19.72 would signal that a short-term low has been posted. 

March cotton closed lower on Wednesday as it extended the decline off November's high. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. The low-range close sets the stage for a steady to lower opening on Wednesday. If March extends the aforementioned decline, October's low crossing at 101.31 is the next downside target. Closes above Tuesday's gap crossing at 111.11 would signal that a low has been posted.