KEY EVENTS TO WATCH FOR:
Monday, December 20, 2021
10:00 AM ET. November Leading Indicators
Leading Index, M/M% (previous +0.9%)
Leading Index (previous 118.3)
Coincident Index, M/M% (previous +0.5%)
Lagging Index, M/M% (previous +0.4%)
Tuesday, December 21, 2021
7:45 AM ET. Weekly Chain Store Sales Index
8:30 AM ET. 3rd Quarter International Transactions
Current Account (USD) (previous -190.28B)
8:55 AM ET. Johnson Redbook Retail Sales Index
Ret Sales Mo-to-Date, M/M%
Ret Sales Mo-to-Date, Y/Y% (previous +15.7%)
Latest Wk, Y/Y% (previous +16.0%)
4:30 PM ET. API Weekly Statistical Bulletin
Crude Stocks, Net Chg (Bbls) (previous -0.8M)
Gasoline Stocks, Net Chg (Bbls) (previous +0.4M)
Distillate Stocks, Net Chg (Bbls) (previous -1.0M)
Wednesday, December 22, 2021
7:00 AM ET. MBA Weekly Mortgage Applications Survey
Composite Idx (previous 591.7)
Composite Idx, W/W% (previous -4.0%)
Purchase Idx-SA (previous 297.2)
Purchase Idx-SA, W/W% (previous +0.7%)
Refinance Idx (previous 2350.5)
Refinance Idx, W/W% (previous -6.4%)
8:30 AM ET. November CFNAI Chicago Fed National Activity Index
NAI (previous 0.76)
NAI, 3-mo Moving Avg (previous 0.21)
8:30 AM ET. 3rd Quarter Revised Corporate Profits
8:30 AM ET. 3rd Quarter 3rd estimate GDP
Annual Rate, Q/Q% (previous +2.1%)
Chain-Weighted Price Idx, Q/Q% (previous +5.9%)
Corporate Profits, Q/Q% (previous +1.9%)
PCE Price Idx, Q/Q% (previous +5.3%)
Purchase Price Idx, Q/Q% (previous +5.5%)
Real Final Sales, Q/Q% (previous +0%)
Core PCE Price Idx, ExFood/Energy, Q/Q% (previous +4.5%)
Personal Consumption, Q/Q% (previous +1.7%)
10:00 AM ET. November Existing Home Sales
Existing Sales (previous 6.34M)
Existing Sales, M/M% (previous +0.8%)
Unsold Homes Month's Supply (previous 2.4)
Median Price (USD) (previous 353900)
Median Home Price, Y/Y% (previous +13.1%)
10:00 AM ET. December Consumer Confidence Index
Cons Conf Idx (previous 109.5)
Expectation Idx
Present Situation Idx (previous 142.5)
10:30 AM ET. EIA Weekly Petroleum Status Report
Crude Oil Stocks (Bbl) (previous 428.286M)
Crude Oil Stocks, Net Chg (Bbl) (previous -4.584M)
Gasoline Stocks (Bbl) (previous 218.585M)
Gasoline Stocks, Net Chg (Bbl) (previous -0.719M)
Distillate Stocks (Bbl) (previous 123.758M)
Distillate Stocks, Net Chg (Bbl) (previous -2.852M)
Refinery Usage (previous 89.8%)
Total Prod Supplied (Bbl/day) (previous 23.191M)
Total Prod Supplied, Net Chg (Bbl/day) (previous +3.354M)
Thursday, December 23, 2021
8:30 AM ET. November Personal Income & Outlays
Personal Income, M/M% (previous +0.5%)
Consumer Spending, M/M% (previous +1.3%)
PCE Price Idx, M/M% (previous +0.6%)
PCE Price Idx, Y/Y% (previous +5%)
PCE Core Price Idx, M/M% (previous +0.4%)
PCE Core Price Idx, Y/Y% (previous +4.1%)
8:30 AM ET. November Advance Report on Durable Goods
Durable Goods-SA, M/M% (previous -0.5%)
Dur Goods, Ex-Defense, M/M% (previous +0.8%)
Dur Goods, Ex-Transport, M/M% (previous +0.5%)
Orders: Cap Gds, Non-Def, Ex-Air, M/M% (previous +0.6%)
Shipmnts: Cap Gds, Non-Def, Ex-Air, M/M% (previous +0.3%)
8:30 AM ET. Unemployment Insurance Weekly Claims Report - Initial Claims
Jobless Claims (previous 206K)
Jobless Claims, Net Chg (previous +18K)
Continuing Claims (previous 1845000)
Continuing Claims, Net Chg (previous -154K)
8:30 AM ET. U.S. Weekly Export Sales
Corn (Metric Tons) (previous 2703.1K)
Soybeans (Metric Tons) (previous 1448.6K)
Wheat (Metric Tons) (previous 650.6K)
9:45 AM ET. Consumer Comfort Index
10:00 AM ET. 3rd Quarter GDP by State
10:00 AM ET. November New Residential Sales
New Home Sales (previous 745K)
New Home Sales, M/M% (previous +0.4%)
New Home Sales Months Supply (previous 6.3)
10:00 AM ET. December University of Michigan Survey of Consumers – final
End-Mo Sentiment Idx (previous 67.4)
End-Mo Expectations Idx (previous 63.5)
12-Month Inflation Forecast (previous 4.9%)
5-Year Inflation Forecast (previous 3.0%)
End-Mo Current Idx (previous 73.6)
10:30 AM ET. EIA Weekly Natural Gas Storage Report
Working Gas In Storage (Cbf) (previous 3417B)
Working Gas In Storage, Net Chg (Cbf) (previous -88B)
4:30 PM ET. Foreign Central Bank Holdings
4:30 PM ET. Federal Discount Window Borrowings
Friday, December 24, 2021
N/A U.S.: Christmas Day holiday observed. Financial markets closed
The STOCK INDEXES? http://quotes.ino.com/ex?changes/?c=indexes
The STOCK INDEXES: The March NASDAQ 100 was sharply lower overnight as it renewed the decline off November's high.Overnight trading sets the stage for a 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 38% retracement level of the March-November rally crossing at 15,043.89 is the next upside target. First resistance is last-Thursday's high crossing at 16,457.00. Second resistance is November's high crossing at 16,768.00. First support is the overnight low crossing at 15,503.00. Second support is the 38% retracement level of the March-November rally crossing at 15,043.89.
The March S&P 500 was sharply lower overnight as it extended the decline off last-Thursday's high. Overnight trading sets the stage for a lower opening when the day session begins trading later this morning. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at 4596.02 would signal that a short-term top has been posted. Closes above the 10-day moving average crossing at 4654.93 would temper the near-term bearish outlook. First resistance is the 10-day moving average crossing at 4654.93. Second resistance is last-Thursday's high crossing at 4743.25. First support is the 50-day moving average crossing at 4596.02. Second support is December's low crossing at 4485.75.
INTEREST RATES http://quotes.ino.com/ex changes/?c=interest"
INTEREST RATES: March T-bonds was slightly higher overnight and sets the stage for a steady to slightly 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. If March resumes the rally off October's low, August's high crossing at 164-20 is the next upside target. Closes below the December 9th low crossing at 160-12 would confirm that a short-term top has been posted. First resistance is December's high crossing at 164-12. Second resistance is the August high crossing at 164-20. First support is the 20-day moving average crossing at 161-14. Second support is the December 9th low crossing at 160-12.
March T-notes was higher overnight and spiked above the 50% retracement level of the August-November-decline crossing at 131.171. Overnight trading sets the stage for a steady to higher opening with 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 March extends the rally off October's low, the 62% retracement level of the August-November decline crossing at 132.065 is the next upside target. Closes below the 50-day moving average crossing at 130.058 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 130.149. Second support is the 50-day moving average crossing at 130.058.
ENERGY MARKETS? http://quotes.ino.com/ex?changes/?c=energy ""
ENERGIES:February crude oil was lower overnight. Overnight trading sets the stage for 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 below last-Wednesday's low crossing at $69.21 would temper the near-term bullish outlook. Closes above the December 9th high crossing at $73.13 would renew the rally off December's low and open the door for a possible test of the 50-day moving average crossing at $75.82. First resistance is the December 9th high crossing at $73.13. Second resistance is the 50-day moving average crossing at $75.82. First support is the overnight low crossing at $66.68. Second support is December's low crossing at $62.26.
February heating oil was sharply lower overnight. 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 February renews the rally off December's low, the 50-day moving average crossing at $2.3492 is the next upside target. Closes below last-Tuesday's low crossing at $2.1829 would temper the near-term friendly outlook. First resistance is the December 9th high crossing at $2.2782. Second resistance is the 50-day moving average crossing at $2.3492. First support is last-Tuesday's low crossing at $2.1829. Second support is December's low crossing at $1.9974.
February unleaded gas was lower overnight as it consolidates some of the rally off December's low. The mid-range trade overnight sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are becoming overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If February extends the rally off December's low the 50-day moving average crossing at 2.2113 is the next upside target. Closes below last-Tuesday's low crossing at 2.0626 would temper the near-term friendly outlook. First resistance is last-Thursday's high crossing at 2.1719. Second resistance is the 50-day moving average crossing at 2.2113. First support is last-Tuesday's low crossing at 2.0626. Second support is December's low crossing at 1.8646.
February Henry natural gas was higher overnight as it extends the trading range of the past three-weeks. 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 renews the decline off October's high, the 75% retracement level of the 2020-2021-rally crossing at 3.535 is the next downside target. Closes above the December 6th gap crossing at 4.010 would signal that a short-term low has been posted. First resistance is the December 6th gap crossing at 4.010. Second resistance is the 20-day moving average crossing at 4.134. Second resistance is the 50-day moving average crossing at 4.898. First support is the 75% retracement level of the 2020-2021-rally crossing at 3.535. Second support is the 87% retracement level of the 2020-2021-rally crossing at 3.050.
CURRENCIEShttp://quotes.ino.com/ex changes/?c=currencies"
CURRENCIES:The March Dollar 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 neutral signaling that sideways trading is possible near-term. Closes below the November 30th low crossing at $95.50 would confirm that a short-term top has been posted while opening the door for a possible test of the 50-day moving average crossing at $95.14. If March renews the rally off May's low, the June-2020 high on the weekly continuation chart crossing at $97.81 is the next upside target. First resistance is last-Wednesday's high crossing at $96.89. Second resistance is the June-2020 high on the weekly continuation chart crossing at $97.81. First support is the November 30th low crossing at $95.50. Second support is the 50-day moving average crossing at $95.14.
The March Euro was higher overnight as it extends the trading range of the past six-weeks. 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 signaling that sideways trading is possible near-term. Closes above the November 30th high crossing at $114.17 would mark an upside breakout of the aforementioned trading range while opening the door for additional gains near-term. If March 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 November 30th high crossing at $114.17. Second resistance is the 50-day moving average crossing at $114.72. First support is November's low crossing at $112.21. Second support is the 87% retracement level of the 2020-2021-rally crossing at $110.60.
The March British Pound was lower overnight. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If March renews the decline off May's high, the 50% retracement level of the 2020-2021-rally crossing at 1.2893 is the next downside target. Closes above last-Thursday's highcrossing at 1.3378 would confirm that a short-term low has been posted while opening the door for additional gains near-term.First resistance the 50-day moving average crossing at 1.3479. Second resistance is the November 18th high crossing at 1.3479. First support is the December 8th low crossing at 1.3166. Second support is the 50% retracement level of the 2020-2021-rally crossing at 1.2893.
The March Swiss Franc was steady to slightly lower overnight. The mid-range overnight trade sets the stage for a steady to slightly lower opening when the day session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices possible near-term. If March renews the rally off November's low, November's high crossing at 1.1042 is the next upside target. Closes below last-Wednesday's low crossing at 1.0791 would open the door for a possible test of November's low crossing at 1.0712. First resistance is the November 30th high crossing at 1.0957. Second resistance is December's high crossing at 1.1042. First support is last-Wednesday's low crossing at 1.0791. Second support is November's low crossing at 1.0712.
The March Canadian Dollar was lower overnight as it extends the decline off October's high. Overnight weakness sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off October's high, the 50% retracement level of the 2020-2021-rally crossing at $75.95 is the next downside target. Closes above the 20-day moving average crossing at $78.30 would temper the near-term bearish outlook. First resistance is the 20-day moving average crossing at $78.30. Second resistance is the December 8th high crossing at $79.35. First support is the overnight low crossing at $77.30. Second support is the 50% retracement level of the 2020-2021-rally crossing at $75.95.
The March Japanese Yen was steady to slightly higher overnight. 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, November's low crossing at 0.086715 is the next downside target. Closes above the December 10th high crossing at 0.088415 would signal that a short-term low has been posted. First resistance is the 50% retracement level of the August-November decline crossing at 0.089417. Second resistance is the 62% retracement level of the August-November decline crossing at 0.090055. First support is last-Wednesday's low crossing at 0.087595. Second support is November's low crossing at 0.086715.
PRECIOUS METALS http://quotes.ino.com/ex changes/?c=metals"
PRECIOUS METALS: Februarygold was lower overnight as it 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 February extends the aforementioned rally, the November 26th high crossing at $1819.30 is the next upside target. If February renews the decline off November's high, September's low crossing at $1723.70 is the next downside target. First resistance is the November 26th high crossing at $1819.30. Second resistance is November's high crossing at $1881.90. First support is last-Wednesday's low crossing at $1753.00. Second support is September's low crossing at $1723.70.
March silver was lower overnight as it consolidates some of the rally off last-Wednesday's low. 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 neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at $22.592 would signal that a short-term low has been posted. If March renews this month's decline, September's low crossing at $21.460 is the next downside target. First resistance is the 20-day moving average crossing at $22.592. Second resistance is the 50-day moving average crossing at $23.555. First support is last-Wednesday's low crossing at $21.410. Second support is the 62% retracement level of the 2020 rally crossing at $21.003.
March copper was lower overnight as it consolidates some of the rally off last-Wednesday's low. The mid-range overnight trade sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 4.3148 would signal that a short-term low has been posted. If March renews the decline off November's high, the 87% retracement level of the August-October rally crossing at 4.0753 is the next downside target. First resistance is the 20-day moving average crossing at 4.3148. Second resistance is the 50-day moving average crossing at 4.3813. First support is the 75% retracement level of the August-October rally crossing at 4.1724. Second support is the 87% retracement level of the August-October rally crossing at 4.0753.
GRAINS http://quotes.ino.com/ex changes/?c=grains
March corn was lower overnight as it consolidates some of the rally off the November 30th low. 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, the June high crossing at $6.16 1/2 is the next upside target. Closes below last-Tuesday's low crossing at $5.81 1/2 would temper the near-term friendly outlook while opening the door for additional weakness near-term. First resistance is August's high crossing at $5.99 3/4. Second resistance is June's high crossing at $6.16 1/2. First support is the 50-day moving average crossing at $5.70 1/2. Second support is the November 30th low crossing at $5.62 1/2.
March wheat was sharply lower overnight and 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 March extends the decline off November's high, the 62% retracement level of the July-November rally crossing at $7.21 is the next downside target. Closes above the 20-day moving average crossing at $8.02 1/4 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at $7.91 1/4. Second resistance is the 20-day moving average crossing at $8.02 1/4. First support is the 50% retracement level of the July-November rally crossing at $7.50 1/2. Second support is the 62% retracement level of the July-November rally crossing at $7.21.
March Kansas City wheat was lower overnight. 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 $8.27 1/2 would signal that a short-term low has been posted. If March renews the decline off November's high, the 50% retracement level of the July-November rally crossing at $7.46 3/4 is the next downside target. First resistance is the 20-day moving average crossing at $8.27 1/2. Second resistance is November's high crossing at $8.92 1/4. First support isthe 38% retracement level of the July-November rally crossing at $7.81 1/4. Second support is the 50% retracement level of the July-November rally crossing at $7.46 3/4.
March Minneapolis wheat was lower overnight as it extends the November-December trading range. Overnight trading sets the stage for a lower opening when the day session begins trading. Stochastics and the RSI are neutral signaling that sideways to lower prices are possible near-term. Closes below the reaction low crossing at $9.91 3/4 would mark a potential downside breakout of the aforementioned trading range while opening the door for additional weakness near-term. If March 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 25% retracement level of the 2020-2021 rally crossing at $9.43 1/2.
SOYBEAN COMPLEX? http://quotes.ino.com/ex?changes/?c=grains "
March soybeans were lower overnight as they consolidate some of last-week's rally. The low-range overnight trade sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off the late-November low, November's high crossing at $13.00 1/2 is the next upside target. Closes below the 50-day moving average crossing at $12.54 1/2 would signal that a short-term top has been posted. First resistance is November's high crossing at $13.00 1/2. Second resistance is September's high crossing at $13.20 1/4. First support last-Tuesday's low crossing at $12.43 1/2. Second support is December's low crossing at $12.23 1/2.
March soybean meal was steady to slightly higher overnight. Overnight trading sets the stage for a steady to slightly higher opening when the day session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off October's low, the 75% retracement level of the May-October decline crossing at $385.30 is the next upside target. Closes below the 20-day moving average crossing at $357.50 would open the door for additional weakness near-term. First resistance is the overnight high crossing at $380.40. Second resistance is the 75% retracement level of the May-October decline crossing at $385.30. First support is the 10-day moving average crossing at $365.70. Second support is the 20-day moving average crossing at $357.50.
March soybean oil was sharply lower overnight as it 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. Closes above the 20-day moving average crossing at 55.98 would signal that a short-term low has been posted. March renews the decline off October's high, June's low crossing at 50.29 is the next downside target. First resistance is the 10-day moving average crossing at 54.22. Second resistance is the 20-day moving average crossing at 55.98. First support is last-Wednesday's low crossing at 51.55. Second support is June's low crossing at 50.29.
Thanks tallpine!