KEY EVENTS TO WATCH FOR:

Monday, December 6, 2021 

10:00 AM ET. November Employment Trends Index

                       ETI (previous 112.23)

                       ETI, Y/Y%

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The Dow closed lower on Friday following today's disappointing jobs report. Today's jobs report showed that theU.S. economy added back fewer jobs than expected in November as Non-farm payroll jobs came in at +210,000 jobs vs. the expected +550,000 jobs and +546,000 jobs in October versus the 531,000 previously reported. Today's report jobs data was less than half what economists expected due in large part to disappointments in the retail and hospitality industries. The unemployment rate fell to 4.2%vs.4.5% expected, 4.6% in October. This is the lowest level since February 2020.The mid-range close sets the stage for a steady to lower opening when Monday'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 35,580.16. 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 Friday as it extended the decline off November's high. Multiple closes below the 50-day moving average crossing at 15,615.97 would open the door for additional weakness during the first half of December. The low-range close sets the stage for a steady to lower opening when Monday'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 December extends the decline off November's low, the October 22^nd low crossing at 15,273.75 is the next downside target. Closes above the 20-day moving average crossing at 14,944.27 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 14,944.27. Second resistance is November's high crossing at 16,767.50. First support is today's low crossing at 15,548.50. Second support is the October 22^nd low crossing at 15,273.75.

The December S&P 500 closed sharply lower on Friday as it extended the decline off November's high. Stochastics and the RSI are oversold but remain neutral to bearish signaling sideways to lower prices are possible near-term.The low-range close sets the stage for a steady to lower opening when Monday's session begins trading. If December extends the aforementioned decline, the October 12^th low crossing at 4317.25. Closes above the 20-day moving average crossing at 4647.62 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 4647.62. Second resistance is November's high crossing at 4740.50. First support is today's low crossing at 4492.00. Second support is the October 12^th low crossing at 4317.25.    

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March T-bonds closed up 1-21/32's at 164-00 

March T-bonds closed sharply higher on Friday as it extended 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 but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the aforementioned rally, August's high crossing at 164-20 is the next upside target. Closes below the 20-day moving average crossing at 160-12 would signal that a short-term top has been posted. First resistance is the August high crossing at 164-20. Second resistance is the August-high on the weekly continuation chart crossing at 167-00. First support is the 20-day moving average crossing at 160-12. Second support is November's low crossing at 157-12.  

March T-notes closed up 240-pts at 131.110.

March T-notes closed higher on Friday as it extended the rally off November'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 remain neutral to bullish signaling sideways to higher prices are possible near-term. If March extends the rally off November's low, the 62% retracement level of the August-November decline crossing at 132.065 is the next upside target. Closes below the 20-day moving average crossing at 130.030 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 20-day moving average crossing at 130.030. Second support is November's low crossing at 128.225. 

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January crude oil closed lower on Friday.The low-range close sets the stage for a steady to lower opening when Monday'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, August's low crossing at $60.77 is the next downside target. Closes above the 20-day moving average crossing at $75.53 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $71.17. Second resistance is the 20-day moving average crossing at $75.54. 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 closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday'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 $230.70 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $219.38. Second resistance is the 20-day moving average crossing at $230.70. 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 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 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 $217.34 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at $207.19. Second resistance is the 20-day moving average crossing at $217.34. First support is the 87% retracement level of the August-October rally crossing at $186.65. Second support is August's low crossing at $178.30.    

January Henry natural gas closed slightly higher on Friday as it consolidated some of the the decline off October's high. 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 January extends the decline off October's high, the 75% retracement level of the 2020-2021-rally crossing at 3.593 is the next downside target. Closes above the 20-day moving average crossing at 4.952 would signal that a low has been posted.First resistance is the 10-day moving average crossing at 4.745. Second resistance is the 20-day moving average crossing at 4.952. 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.   

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The December Dollar closed slightly lower on Friday. 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 neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at $95.77 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 $95.77. Second support is the 50-day moving average crossing at $94.69. 

The December Euro closed slightly 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 neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 113.69 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 113.69. Second resistance is the 50-day moving average crossing at 115.20. 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 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 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 1.3395 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 1.3395. Second resistance is the 50-day moving average crossing at 1.3554. 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 closed higher on Friday as it extends the rally off November'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 November's low, November's high crossing at 1.1017 is the next upside target. Closes below the 10-day moving average crossing at 1.0810 would signal that a short-term top has been posted. First resistance is today's high crossing at 1.0929. Second resistance is November's high crossing at 1.1017. First support is the 10-day moving average crossing at 1.0810. Second support is November's low crossing at 1.0673.  

The December Canadian Dollar 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 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 79.13 would signal that a short-term top has been posted. First resistance is the 20-day moving average crossing at 79.13. Second resistance is the November 16^th high crossing at 80.05. First support is today's low crossing at 77.84. Second support is September's low crossing at 77.53.

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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off last-Wednesday's low, the 50% retracement level of the August-November decline crossing at 0.089293 is the next upside target. Multiple closes below the 20-day moving average crossing at 0.087867 would confirm that a top has been posted. 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 20-day moving average crossing at 0.087867. Second support is November's low crossing at 0.086565.

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February gold closed higher on Friday 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 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 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 $1822.60 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at $1822.60. 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 higher on Friday 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 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 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 24.066 would confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 23.612. Second resistance is the 20-day moving average crossing at 24.066. First support is today's low crossing at 22.035. Second support is the October 12^th low crossing at 22.380.    

March copper 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 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 November'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 up $0.07 1/4-cents at $5.84. 

March corn closed higher on Friday as it extends the rebound off Tuesday'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 have turned neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends this week's rally, November's high crossing at $5.96 3/4 is the next upside target. If March resumes the decline off last-Wednesday's high, the 50-day moving average crossing at $5.60 1/2 is the next downside target. 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 $5.60 1/2. Second support is October's low crossing at $5.16 1/4.     

March wheat closed down $0.11 1/4-cents at $8.03 3/4.  

March wheat Closes 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. Closes above the 10-day moving average crossing at $8.26 3/4 would signal that a short-term low has been posted.If March renews the aforementioned decline, the 50-day moving average crossing at $7.83 1/4 is the next downside target. First resistance is the 20-day moving average crossing at $8.20 1/4. Second resistance is the 10-day moving average crossing at $8.26 3/4. First support is the 50-day moving average crossing at $7.83 1/4. Second support is October's low crossing at $7.25 3/4.

March Kansas City Wheat closed down $0.16 1/2-cents at $8.25 3/4.

March Kansas City wheat 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 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 $7.89 1/2 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 November's high crossing at $8.92 1/4. Second resistance is psychological resistance crossing at $9.00. First support is Wednesday's low crossing at $8.11 1/4. Second support is the 50-day moving average crossing at $7.89 1/2.

March Minneapolis wheat closed down $0.21 1/2-cents at $10.20 3/4. 

March Minneapolis wheat closed lower on Friday as it extends November's trading range. 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. If March renews this year's rally, monthly resistance on the continuation chart crossing at $11.20 is the next upside target. Closes below the November low crossing at $9.91 3/4 would confirm 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 November's low crossing at $9.91 3/4. Second support is the 50-day moving average crossing at $9.87 1/4.  

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January soybeans closed up $0.25 1/4-cents at $12.69 1/2.

January soybeans closed higher on Friday as it extended the rally off Tuesday's low.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 have turned neutral to bullish signaling that sideways to higher prices are possible near-term. If January extends this week's rally, November's high crossing at $12.89 1/4 is the next upside target. If January renews the decline off November's high, November's low crossing at $11.81 1/4 is the next downside target. 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 down $10.20 at $359.00. 

January soybean meal closed higher on Friday as it extends the rally off Tuesday'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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. If January extends this week's rally, November's high crossing at $375.90 is the next upside target. If January renews the decline off November's high, the 50-day moving average crossing at $336.60 is the next downside target. First resistance is today's high crossing at $360.50. Second resistance is November's high crossing at $375.90. First support is the 50-day moving average crossing at $336.60. Second support is the November 8^th low crossing at $326.80.      

January soybean oil closed up 96 pts. at 57.30. 

January soybean oil closed higher on Friday as it consolidated some of the decline off October's high. 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 59.63 would signal that a short-term low has been posted. If January resumes the decline off October's high, September's low crossing at 54.25 is the next downside target. First resistance is the 50-day moving average crossing at 59.63. Second resistance is November's high crossing at 62.10. First support is Thursday's low crossing at 54.59. Second support is September's low crossing at 54.25.  

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February hogs closed down $0.62 at $81.37. 

February hogs 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 bullish signaling that sideways to higher prices are possible near-term. If February extends the rally off this week's low, November's high crossing at $84.68 is the next upside target. If February renews the decline off November's high, the November 10^th low crossing at $77.67 is the next downside target. First resistance is November'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 $0.55 at $139.02. 

February 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. If February renews this fall's rally, the March 2016 high on the continuation chart crossing at $141.90 is the next upside target. Closes below the 20-day moving average crossing at $137.95 would signal that a short-term top has been posted. First resistance is November'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 $137.95. Second support is the 50-day moving average crossing at $135.66. 

January Feeder cattle closed down $1.83 at $163.95. 

January 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. Closes below the 20-day moving average crossing at $161.99 would signal that a short-term top has been posted. If January renews 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 20-day moving average crossing at $161.99. Second support is the 50-day moving average crossing at $159.97. 

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

March coffee closed higher on Friday. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If March renews this year's rally, weekly resistance crossing at 258.65 is the next upside target. Closes below the 20-day moving average crossing at 227.32 would signal that a short-term top has been posted.    

March cocoa closed higher on Friday as it consolidated some of the decline off October's high. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above last-Friday's gap crossing at 24.95 would signal that a low has been posted. If March extends the decline off October's high July's low crossing at 23.13 is the next downside target.   

March sugar closed higher on Friday. The low-range close sets the stage for a steady to lower opening on Monday. 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 19.64 would signal that a short-term low has been posted. 

March cotton closed slightly higher on Friday as it consolidated some of 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 Monday. 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.