KEY EVENTS TO WATCH FOR:
Monday, December 6, 2021
10:00 AM ET. November Employment Trends Index
ETI (previous 112.23)
ETI, Y/Y%
Tuesday, December 7, 2021
7:45 AM ET. Weekly Chain Store Sales Index
8:30 AM ET. October U.S. International Trade in Goods & Services
Trade Balance (USD) (previous -80.9B)
Exports (USD) (previous 207.6B)
Exports, M/M% (previous -3.0%)
Imports (USD) (previous 288.5B)
Imports, M/M% (previous +0.6%)
8:30 AM ET. 3rd Quarter Revised Productivity & Costs
Non-Farm Productivity (previous +2.1%)
Unit Labor Costs (previous +1.3%)
8:55 AM ET. Johnson Redbook Retail Sales Index
Ret Sales Mo-to-Date, M/M%
Ret Sales Mo-to-Date, Y/Y% (previous +16.9%)
Latest Wk, Y/Y% (previous +21.9%)
10:00 AM ET. December IBD/TIPP Economic Optimism Index
Economic Optimism Idx (previous 43.9)
6-Mo Economic Outlook (previous 38.6)
10:00 AM ET. 3rd Quarter Quarterly Financial Report – Industry
10:00 AM ET. 3rd Quarter Quarterly Financial Report - Retail Trade
3:00 PM ET. October Consumer Credit
Consumer Credit Net Chg (USD) (previous +29.9B)
4:30 PM ET. API Weekly Statistical Bulletin
Crude Stocks, Net Chg (Bbls) (previous -0.7M)
Gasoline Stocks, Net Chg (Bbls) (previous +2.2M)
Distillate Stocks, Net Chg (Bbls) (previous +0.8M)
Wednesday, December 8, 2021
7:00 AM ET. MBA Weekly Mortgage Applications Survey
Composite Idx (previous (previous 604.2)
Composite Idx, W/W% (previous (previous -7.2%)
Purchase Idx-SA (previous (previous 310.7)
Purchase Idx-SA, W/W% (previous +5.1%)
Refinance Idx (previous 2304.5)
Refinance Idx, W/W% (previous -14.8%)
10:00 AM ET. November Online Help Wanted Index
10:00 AM ET. October Job Openings & Labor Turnover Survey
10:30 AM ET. EIA Weekly Petroleum Status Report
Crude Oil Stocks (Bbl) (previous 433.111M)
Crude Oil Stocks, Net Chg (Bbl) (previous -0.909M)
Gasoline Stocks (Bbl) (previous 215.422M)
Gasoline Stocks, Net Chg (Bbl) (previous +4.029M)
Distillate Stocks (Bbl) (previous 123.877M)
Distillate Stocks, Net Chg (Bbl) (previous +2.16M)
Refinery Usage (previous 88.8%)
Total Prod Supplied (Bbl/day) (previous 20.222M)
Total Prod Supplied, Net Chg (Bbl/day) (previous -1.53M)
Thursday, December 9, 2021
8:30 AM ET. Unemployment Insurance Weekly Claims Report - Initial Claims
Jobless Claims (previous 222K)
Jobless Claims, Net Chg (previous +28K)
Continuing Claims (previous 1956000)
Continuing Claims, Net Chg (previous -107K)
8:30 AM ET. U.S. Weekly Export Sales
Corn (Metric Tons) (previous 1021.1K)
Soybeans (Metric Tons) (previous 1015.4K)
Wheat (Metric Tons) (previous 105.9K)
9:45 AM ET. Consumer Comfort Index
10:00 AM ET. October Monthly Wholesale Trade
Inventories, M/M% (previous +1.4%)
10:30 AM ET. EIA Weekly Natural Gas Storage Report
Working Gas In Storage (Cbf) (previous 3564B)
Working Gas In Storage, Net Chg (Cbf) (previous -59B)
12:00 PM ET. World Agricultural Supply & Demand Estimates (WASDE)
Corn, End Stocks (Bushels)
Soybeans, End Stocks (Bushels)
Wheat, End Stocks (Bushels)
Cotton, End Stocks (Bales)
4:30 PM ET. Federal Discount Window Borrowings
4:30 PM ET. Foreign Central Bank Holdings
Friday, December 10, 2021
8:30 AM ET. November CPI
CPI, M/M% (previous +0.9%)
Core CPI, M/M% (previous +0.6%)
Energy Idx, M/M% (previous +4.8%)
Food Idx, M/M% (previous +0.9%)
Real Avg Wkly Pay-Infla Adj, M/M% (previous -0.9%)
CPI, Y/Y% (previous +6.2%)
Core Annual, Y/Y% (previous +4.6%)
8:30 AM ET. November Real Earnings
10:00 AM ET. 3rd Quarter Quarterly Services
10:00 AM ET. December University of Michigan Survey of Consumers – preliminary
Mid-Mo Sentiment (previous 66.8)
Mid-Mo Expectations (previous 62.8)
Mid-Mo Current Idx (previous 73.2)
2:00 PM ET. November Monthly Treasury Statement of Receipts & Outlays of the U.S. Govt.
The STOCK INDEXES? http://quotes.ino.com/ex?changes/?c=indexes
The STOCK INDEXES: The December NASDAQ 100 was lower overnight as it extended the decline off November's high.Overnight weakness 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 November's high, the October 22nd low crossing at 15,273.75 is the next downside target. Closes above the 20-day moving average crossing at 16,173.25 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 16,173.75. Second resistance is November's high crossing at 16,767.50. First support is the 50-day moving average crossing at 15,624.91. Second support is the October 22nd low crossing at 15,273.75.
The December S&P 500 was steady to slightly higher overnight.Overnight trading 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 December extends the decline off November's high, the October 12th low crossing at 4317.25 is the next downside target. Closes above the 20-day moving average crossing at 4641.98 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 4641.98. Second resistance is the November 22nd high crossing at 4740.50. First support is last-Friday's low crossing at 4492.00. Second support is the October 12th low crossing at 4317.25.
INTEREST RATES http://quotes.ino.com/ex changes/?c=interest"
INTEREST RATES: March T-bonds was lower overnight as it consolidates some of the rally off November's low. Overnight trading sets the stage for a steady to lower 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 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 160-16 are needed to signal that a short-term top has been posted. First resistance is last-Friday's high crossing at 164-12. Second resistance is the August high crossing at 164-20. First support is the 10-day moving average crossing at 161-03. Second support is the 20-day moving average crossing at 160-16.
March T-notes was lower overnight as it consolidates some of the rally off November's low. Overnight trading sets the stage for a lower opening with 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 March extends the aforementioned rally, the 62% retracement level of the August-November decline crossing at 132.065. Closes below the 20-day moving average crossing at 130.029 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 130.029. 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at $74.97 would signal that a short-term low has been posted. If January extends the decline off October's high, August's low crossing at $60.77 is the next downside target. First resistance is the 10-day moving average crossing at $70.45. Second resistance is the 20-day moving average crossing at $74.97. First support is last-Thursday's low crossing at $62.43. Second support is August's low crossing at $60.77.
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 are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at $2.2927 would confirm that a short-term low has been posted. If January resumes the decline off October's high, the 87% retracement level of the August-October rally crossing at $1.9823 is the next downside target. First resistance is the 10-day moving average crossing at $2.1808. Second resistance is the 20-day moving average crossing at $2.2927. First support is the 38% retracement level of the 2020-2021 rally crossing at $2.0477. Second support is the 50% retracement level of the 2020-2021 rally crossing at $1.8820.
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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 2.1601 would signal that a short-term low has been posted. If January resumes the decline off October's high, the 87% retracement level of the August-October rally crossing at 1.8665 is the next downside target. First resistance is the 10-day moving average crossing at 2.0573. Second resistance is the 20-day moving average crossing at 2.1601. First support is the 87% retracement level of the August-October rally crossing at 1.8665. Second support is August's low crossing at 1.7830.
January Henry natural gas gapped down and was sharply lower overnight as it extends the decline off October's high. 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 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 4.863 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at 4.616. Second resistance is the 20-day moving average crossing at 4.863. First support is the 75% retracement level of the 2020-2021-rally crossing at 3.593. Second support is the 87% retracement level of the 2020-2021-rally crossing at 3.100.
CURRENCIEShttp://quotes.ino.com/ex changes/?c=currencies"
CURRENCIES:The December Dollar was steady to higher overnight. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below last-Tuesday's low crossing at $95.54 would signal that a short-term top has been posted while opening the door for a possible test of the 50-day moving average crossing at $94.74. 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 last-Tuesday's low crossing at $95.54. Second support is the 50-day moving average crossing at $94.74.
The December Euro was steady to slightly 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 remain neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at $113.56 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 $113.56. Second resistance is the 50-day moving average crossing at $115.11. 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 steady to higher overnight as it consolidates above the 38% retracement level of the 2020-2021-rally crossing at 1.3223. Overnight trading sets the stage for a steady to higher opening when the day session beings trading. Stochastics and the RSI are turning neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 1.3384 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 1.3384. Second resistance is the 50-day moving average crossing at 1.3547. 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 extends last-week's trading range. 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 November's low, November's high crossing at 1.1017 is the next upside target. Closes below the 10-day moving average crossing at 1.0817 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 1.0817. Second support is November's low crossing at 1.0673.
The December Canadian Dollar was steady to higher overnight as it consolidates some of 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, September's low crossing at $77.53 is the next downside target. Closes above the 20-day moving average crossing at $79.03 would signal that a low has been posted. First resistance is the 20-day moving average crossing at $79.03. Second resistance is the 50-day moving average crossing at $79.75. First support is last-Friday's low crossing at $77.78. Second support is September's low crossing at $77.53.
The December Japanese Yen was lower overnight as it extends last-week's trading range. Overnight trading sets the stage for a steady to lower 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 November's low, the 50% retracement level of the August-November decline crossing at 0.089293 is the next upside target. Closes below the 20-day moving average crossing at 0.087883 would signal that a short-term top has been posted. First resistance is the 50% retracement level of the August-November decline crossing at 0.089293. Second resistance is the 62% retracement level of the August-November decline crossing at 0.089943. First support is the 20-day moving average crossing at 0.087883. Second support is November's low crossing at 0.086565.
PRECIOUS METALS http://quotes.ino.com/ex changes/?c=metals"
PRECIOUS METALS: Februarygold was steady to 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 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 $1820.60 would signal that a short-term low has likely been posted. First resistance is the 20-day moving average crossing at $1820.60. Second resistance is November's high crossing at $1881.90. First support is the November 3rd low crossing at $1761.00. Second support is September's low crossing at $1723.70.
March silver was steady to slightly 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends this month's decline, September's low crossing at $21.460 is the next downside target. Closes above the 20-day moving average crossing at $23.971 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at $23.608. Second resistance is the 20-day moving average crossing at $23.971. First support is last-Friday's low crossing at $22.035. Second support is September's low crossing at $21.460.
March copper was steady to higher overnight. The high-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 renews the decline off November's high, the 75% retracement level of the August-October rally crossing at 4.1724 is the next downside target. Closes above the 50-day moving average crossing at 4.3609 would signal that a short-term low has been posted. First resistance is November'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 75% retracement level of the August-October rally crossing at 4.1724.
GRAINS http://quotes.ino.com/ex changes/?c=grains
March corn was lower overnight as it consolidates some of the rally off Tuesday's high. 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 neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off last-week's low, November's high crossing at $5.96 3/4 is the next upside target. Closes below the 50-day moving average crossing at $5.61 1/2 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. 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 last-Tuesday's low crossing at $5.62 1/2. Second support is 50-day moving average crossing at $5.61 1/2.
March wheat was steady to lower overnight. 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 bullish signaling that sideways to higher prices are possible near-term. Closes above the 10-day moving average crossing at $8.23 1/2 would signal that a short-term low has been posted. Closes below the 50-day moving average crossing at $7.84 1/2 would open the door for additional weakness near-term. First resistance is the 20-day moving average crossing at $8.21 1/4. Second resistance is the 10-day moving average crossing at $8.21 1/2. First support is the 50-day moving average crossing at $7.84 1/2. Second support is the July-September uptrend line crossing near $7.69 3/4.
March Kansas City wheat was steady to 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 aforementioned decline, the 50-day moving average crossing at $7.91 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 last-Wednesday's low crossing at $8.11 1/4. Second support is the 50-day moving average crossing at $7.91 1/4.
March Minneapolis wheat was lower overnight as it extends the trading range of the past six-weeks. Overnight trading sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are neutral signaling that sideways trading is possible near-term. If December renews the rally off September's low, weekly resistance crossing at $11.20 is the next upside target. 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. 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 $9.89 1/2.
SOYBEAN COMPLEX? http://quotes.ino.com/ex?changes/?c=grains "
January soybeans was lower overnight as it consolidated some of the rally off last-Tuesday's low. Overnight trading set 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. If January extends the rally off last-Tuesday's low, 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 October's high crossing at $13.17. First support is last-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 lower overnight as it consolidates some of the rally off last-Tuesday'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. If March extends the rally off last-Tuesday's low, November's high crossing at $371.90 is the next upside target. Closes below the 50-day moving average crossing at $337.00 would open the door for additional weakness near-term. First resistance is last-Friday's high crossing at $357.40. Second resistance is November's high crossing at $371.90. First support is the 50-day moving average crossing at $337.00. Second support is the November 8th low crossing at $325.90.
March soybean oil was lower overnight as it consolidated some of the rally off last-Thursday's low. Overnight trading 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. If Closes above the 50-day moving average crossing at 59.21 would signal that a short-term low has been posted. March renews the decline off October's high, September's low crossing at 54.30 is the next downside target. First resistance is the 50-day moving average crossing at 59.21. Second resistance is November's high crossing at 61.44. First support is last-Thursday's low crossing at 54.69. Second support is September's low crossing at 54.30.
LIVESTOCKhttp://quotes.ino.com/exchanges/?c=livestock
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 10th 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 10th 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.
Thanks tallpine!