KEY EVENTS TO WATCH FOR:
Tuesday, January 18, 2022
8:30 AM ET. January Empire State Manufacturing Survey
Mfg Idx (previous 31.9)
Employment Idx (previous 21.4)
New Orders Idx (previous 27.1)
Prices Received (previous 44.6)
10:00 AM ET. January NAHB Housing Market Index
Housing Mkt Idx (previous 84)
4:00 PM ET. November Treasury International Capital Data
Wednesday, January 19, 2022
7:00 AM ET. MBA Weekly Mortgage Applications Survey
Composite Idx (previous 580.6)
Composite Idx, W/W% (previous +1.4%)
Purchase Idx-SA (previous 283.4)
Purchase Idx-SA, W/W% (previous +2.2%)
Refinance Idx (previous 2349.8)
Refinance Idx, W/W% (previous -0.1%)
7:45 PM ET. Weekly Chain Store Sales Index
8:30 AM ET. December New Residential Construction - Housing Starts and Building Permits
Total Starts (previous 1.679M)
Housing Starts, M/M% (previous +11.8%)
Building Permits (previous 1.712M)
Building Permits, M/M% (previous +3.6%)
8:55 AM ET. Johnson Redbook Retail Sales Index
Ret Sales Mo-to-Date, M/M%
Ret Sales Mo-to-Date, Y/Y% (previous +14.4%)
Latest Wk, Y/Y% (previous +14.4%)
4:30 PM ET. API Weekly Statistical Bulletin
Crude Stocks, Net Chg (Bbls) (previous -1.1M)
Gasoline Stocks, Net Chg (Bbls) (previous +10.9M)
Distillate Stocks, Net Chg (Bbls) (previous +3.0M)
N/A Texas: Confederate Heroes Day
Thursday, January 20, 2022
8:30 AM ET. January Philadelphia Fed Business Outlook Survey
Business Activity (previous 15.4)
Prices Paid (previous 66.1)
Employment (previous 33.9)
New Orders (previous 13.7)
Prices Received (previous 50.4)
Delivery Times (previous 31.4)
Inventories (previous 13.2)
Shipments (previous 15.3)
8:30 AM ET. Unemployment Insurance Weekly Claims Report - Initial Claims
Jobless Claims (previous 230K)
Jobless Claims, Net Chg (previous +23K)
Continuing Claims (previous 1559000)
Continuing Claims, Net Chg (previous -194K)
9:45 AM ET. Consumer Comfort Index
10:00 AM ET. December Existing Home Sales
Existing Sales (previous 6.46M)
Existing Sales, M/M% (previous +1.9%)
Unsold Homes Month's Supply (previous 2.1)
Median Price (USD) (previous 353900)
Median Home Price, Y/Y% (previous +13.9%)
10:30 AM ET. EIA Weekly Natural Gas Storage Report
Working Gas In Storage (Cbf) (previous 3016B)
Working Gas In Storage, Net Chg (Cbf) (previous -179B)
11:00 AM ET. EIA Weekly Petroleum Status Report
Crude Oil Stocks (Bbl) (previous 413.298M)
Crude Oil Stocks, Net Chg (Bbl) (previous -4.553M)
Gasoline Stocks (Bbl) (previous 240.748M)
Gasoline Stocks, Net Chg (Bbl) (previous +7.961M)
Distillate Stocks (Bbl) (previous 129.383M)
Distillate Stocks, Net Chg (Bbl) (previous +2.537M)
Refinery Usage (previous 88.4%)
Total Prod Supplied (Bbl/day) (previous 20.829M)
Total Prod Supplied, Net Chg (Bbl/day) (previous +1.164M)
4:30 PM ET. Federal Discount Window Borrowings
4:30 PM ET. Foreign Central Bank Holdings
Friday, January 21, 2022
8:30 AM ET. U.S. Weekly Export Sales
Corn (Metric Tons) (previous 457.7K)
Soybeans (Metric Tons) (previous 918.7K)
Wheat (Metric Tons) (previous 264.4K)
10:00 AM ET. December Leading Indicators
Leading Index, M/M% (previous +1.1%)
Leading Index (previous 119.9)
Coincident Index, M/M% (previous +0.3%)
Lagging Index, M/M% (previous -0.1%)
The STOCK INDEXES? http://quotes.ino.com/ex?changes/?c=indexes
The STOCK INDEXES: The March NASDAQ 100 was sharply lower overnight as global stocks were dragged down by concern that central banks will have to raise rates sooner than expected. Overnight trading sets the stage for a lower opening when the day session begins trading. Stochastics and the RSI are turning bearish signaling that sideways to lower prices are possible near-term. If March renews the decline off December's high, the 38% retracement level of 2021's rally crossing at 15,043.89 is the next downside target. Closes above the 50-day moving average crossing at 16,104.12 would signal that a short-term low has been posted. From a broad perspective, March needs to close below December's low crossing at 15,492.00 to confirm a downside breakout of the November-January trading range. First resistance is the 50-day moving average crossing at 16,122.14. Second resistance is December's high crossing at 16,659.50. First support is last-Monday's low crossing at 15,152.50. Second support is the 38% retracement level of 2021's rally crossing at 15,043.89.
The March S&P 500 was sharply lower overnight and is poised to extend the decline off January's high. Overnight trading sets the stage for a lower opening when the day session begins trading later this morning. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off January's high the December 20th low crossing at 4520.25 is the next downside target. Closes above the 20-day moving average crossing at 4704.41 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 4704.41. Second resistance is January's high crossing at 4808.25. First support is the December 20th low crossing at 4520.25. 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 lower overnight as it extends the decline off December'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 to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off December's high, the March low on the weekly continuation chart crossing at 153-07 is the next downside target. Closes above the 20-day moving average crossing at 158-02 would temper the near-term bearish outlook. First resistance is last-Thursday's high crossing at 156-28. Second resistance is the 20-day moving average crossing at 158-02. First support is the overnight low crossing at 153-29. Second support is the March low on the weekly continuation chart crossing at 153-07.
March T-notes was lower overnight as it extends the decline off last-August's high. Overnight trading sets the stage for a lower opening with 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 aforementioned decline, weekly support crossing at 126.110 is the next downside target. Closes above the 20-day moving average crossing at 129.151 would signal that a short-term low has been posted. First resistance is last-Thursday's high crossing at 128.270. Second resistance is the 20-day moving average crossing at 129.151. First support is the overnight low crossing at 127.150. Second support is weekly support crossing at 126.110.
ENERGY MARKETS? http://quotes.ino.com/ex?changes/?c=energy ""
ENERGIES:February crude oil was higher overnight as it extends the rally off December's low and tested monthly resistance crossing at $85.41. Overnight trading sets the stage for a steady to 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 February extends the rally off December's low, monthly resistance crossing at $92.96 is the next upside target. Closes below the 20-day moving average crossing at $77.45 would signal that a short-term top has been posted. First resistance is monthly resistance on the monthly continuation chart crossing at $85.41. Second resistance is monthly resistance on the monthly continuation chart crossing at $92.96. First support is the 10-day moving average crossing at $80.63. Second support is the 20-day moving average crossing at $77.45.
February heating oil was steady to higher overnight as it extends the rally off December's low. Overnight trading sets the stage for a 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 February extends the rally off December's low, monthly resistance crossing at $2.7919 is the next upside target. Closes below the 20-day moving average crossing at $2.4291 would confirm that a short-term top has been posted. First resistance is the overnight high crossing at $2.7116. Second resistance is monthly resistance crossing at $2.7919. First support is the 10-day moving average crossing at $2.5398. Second support is the 20-day moving average crossing at $2.4292.
February unleaded gas was higher overnight as it extends the rally off December's low. 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 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, monthly resistance on the continuation chart crossing at $2.8181 is the next upside target. Closes below the 20-day moving average crossing at $2.2775 would signal that a short-term top has been posted. First resistance is the overnight high crossing at $2.4692. Second resistance is monthly resistance crossing at $2.8181. First support is the 10-day moving average crossing at $2.3441. Second support is the 20-day moving average crossing at $2.2773.
February Henry natural gas was slightly lower overnight. Overnight trading sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 3.955 would signal that a short-term top has been posted. If February renews the rally off December's low, the 50% retracement level of the October-December decline crossing at 5.035 is the next upside target. First resistance is the 50% retracement level of the October-December decline crossing at 5.035. Second resistance is the 62% retracement level of the October-December decline crossing at 5.395. First support is the 10-day moving average crossing at 4.131. Second support is the 20-day moving average crossing at 3.955.
CURRENCIEShttp://quotes.ino.com/ex changes/?c=currencies"
CURRENCIES:The March Dollar was steady to higher overnight as it consolidated some of last-week's decline. Overnight trading sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at $95.95 would signal that a short-term low has been posted. If March resumes last-week's decline, the 38% retracement level of the May-December-2021 rally crossing at $94.11 is the next downside target. First resistance is the 50-day moving average crossing at $95.95. Second resistance is the December 15th high crossing at $96.89. First support is last-Friday's low crossing at $94.61. Second support is the 38% retracement level of the May-December-2021 rally crossing at $94.11.
The March Euro was lower overnight as it consolidates 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 turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at $113.60 would signal that a short-term top has been posted. If March extends the rally off November's low, the 25% retracement level of 2021's decline crossing at $115.23 is the next upside target. First resistance is the 25% retracement level of 2021's decline crossing at $115.26. Second resistance is the 38% retracement level of 2021's decline crossing at $116.86. First support is the 20-day moving average crossing at $113.60. Second support is November's low crossing at $112.21.
The March British Pound was sharply lower overnight as it consolidates some of the rally off December's low. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 1.3509 would signal that a short-term top has been posted.If March resumes the rally off December's low, October's high crossing at 1.3826 is the next upside target.First resistance is the October's high crossing at 1.3826. Second resistance is September's high crossing at 1.3914. First support is the 10-day moving average crossing at 1.3608. Second support is the 20-day moving average crossing at 1.3509.
The March Swiss Franc was steady to slightly lower overnight as it consolidated some of the rally off last-Tuesday's low. The low-range overnight trade sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are overbought and are poised to turn neutral to bearish with additional weakness that would signal sideways to lower prices possible near-term. If March resumes this month's rally, November's high crossing at 1.1042 is the next upside target. Closes below the 50-day moving average crossing at 1.0888 would signal that a short-term top has been posted. First resistance is last-Thursday's high crossing at 1.1015. Second resistance is November's high crossing at 1.1042. First support is the 50-day moving average crossing at 1.0888. Second support is last-Tuesday's low crossing at 1.0795.
The March Canadian Dollar was higher overnight as it consolidates some of last-Friday's decline. 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 December's low, the November 10th high crossing at $80.70 is the next upside target. Closes below the 20-day moving average crossing at $78.67 would signal that a short-term top has been posted. First resistance is the November 10th high crossing at $80.70. Second resistance is October's high crossing at $81.37. First support is the 10-day moving average crossing at $79.27. Second support is the 20-day moving average crossing at $78.67.
The March Japanese Yen was lower overnight as it consolidates some of the rally off the January 4th low. Stochastics and the RSI are overbought and are poised to turn neutral to bearish with additional weakness. If March renews the decline off November's high, monthly support crossing at 0.084932 is the next downside target. Closes above the 50-day moving average crossing at 0.087649 would confirm that a short-term low has been posted while opening the door for additional gains near-term. First resistance is the 50-day moving average crossing at 0.087649. Second resistance is the December 17th high crossing at 0.088485. First support is the 10-day moving average crossing at 0.086882. Second support is the December 4th low crossing at 0.085980.
PRECIOUS METALS http://quotes.ino.com/ex changes/?c=metals"
PRECIOUS METALS: Februarygold was steady to slightly lower overnight and 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. Closes below the 50-day moving average crossing at $1809.50 would signal that a short-term top has been posted. Closes above January's high crossing at $1833.00 would renew the rally off December's low and would open the door for additional gains near-term. First resistance is January's high crossing at $1833.00. Second resistance is September's high crossing at $1838.70. First support is the January 7th low crossing at $1781.30. Second support is December's low crossing at $1753.00.
March silver was steady to slightly higher overnight. The mid-range trade sets the stage for a steady to higher opening when the day session begins trading later this morning. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If March renews the decline off December's high, December's low crossing at $21.410 is the next downside target. Closes above the 50-day moving average crossing at $23.212 would open the door for additional gains near-term. First resistance is the 50-day moving average crossing at $23.212. Second resistance is November's high crossing at $25.540. First support is the January 7th low crossing at $21.945. Second support is December's low crossing at $21.410.
March copper was lower overnight as it extends the decline off the January 12th high. 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 bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at 4.3680 would signal that a short-term top has been posted. If March renews the rally off December's low, the 75% retracement level of the October-December decline crossing at 4.6142 is the next upside target. First resistance is the 75% retracement level of the October-December decline crossing at 4.6142. Second resistance is the 87% retracement level of the October-December decline crossing at 4.6936. First support is the 50-day moving average crossing at 4.3680. Second support is the January 6th low crossing at 4.3135.
GRAINS http://quotes.ino.com/ex changes/?c=grains
March corn was lower overnight. 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 bearish signaling that sideways to lower prices are possible near-term. Multiple closes below the 50-day moving average crossing at $5.88 3/4 would open the door for a larger-degree decline near-term. If March renews the rally off September's low, the June high crossing at $6.33 is the next upside target. First resistance is December's high crossing at $6.17 3/4. Second resistance is June's high crossing at $6.33. First support is the 50-day moving average crossing at $5.88 3/4. Second support is the November 30th low crossing at $5.62 1/2.
March wheat was higher overnight as it consolidates some of last-week's decline. Overnight trading sets the stage for a 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 March renews 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 $7.72 1/2 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at $7.72 1/2. Second resistance is the 50-day moving average crossing at $7.94. First support is the January 7th low crossing at $7.35 1/2. Second support is the 62% retracement level of the July-November rally crossing at $7.21.
March Kansas City wheat was higher overnight as it consolidates 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. If March renews the decline off November's high, the October 13th low crossing at $7.24 1/4 is the next downside target. Closes above the 20-day moving average crossing at $8.00 1/2 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at $8.00 1/2. Second resistance is the 50-day moving average crossing at $8.15 1/2. First support is the 50% retracement level of the July-November rally crossing at $7.46 3/4. Second support is the October 13th low crossing at $7.24 1/4.
March Minneapolis wheat was higher overnight as it consolidates some of the decline off November's high. Overnight trading sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are 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 September 10th low crossing at $8.51 is the next downside target. Closes above the 20-day moving average crossing at $9.63 1/2 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $9.19. Second resistance is the 20-day moving average crossing at $9.63 1/2. First support is the 38% retracement level of 2020-2021-rally crossing at $8.78 1/2. Second support is the September 10th low crossing at $8.51.
SOYBEAN COMPLEX? http://quotes.ino.com/ex?changes/?c=grains "
March soybeans was lower overnight as it extended the decline off January's high. The low-range overnight trade sets the stage for a lower opening when the day session begins trading. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at $13.63 3/4 would signal that a short-term top has been posted. If March renews the rally off November's low, last-June's high crossing at $14.45 1/2 is the next upside target. First resistance is the 87% retracement level of the June-November decline crossing at $14.13 1/4. Second resistance is last-June's high crossing at $14.45 1/2. First support is the 20-day moving average crossing at $13.63 3/4. Second support is the December 30th low crossing at $13.34 1/2.
March soybean meal gapped down and was lower overnight as it extends the decline off January'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. Closes below the 20-day moving average crossing at $406.70 would confirm that a short-term top has been posted while opening the door for additional weakness near-term. If March renews the rally off October's low, the 87% retracement level of the January-October decline on the weekly continuation chart crossing at $450.80 is the next upside target. First resistance is January's high crossing at $431.80. Second resistance is the 87% retracement level of the January-October decline on the weekly continuation chart crossing at $450.80. First support is the 20-day moving average crossing at $406.70. Second support is the December 31st low crossing at $398.20.
March soybean oil was lower overnight and sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are turning bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at 57.04 would signal that a short-term top has been posted. If March renews the rally off December's low, November's high crossing at 61.44 is the next upside target. First resistance is the January 5th high crossing at 59.68. Second resistance is November's high crossing at 61.44. First support is the 50-day moving average crossing at 57.04. Second support is the December 30th low crossing at 55.57.
LIVESTOCKhttp://quotes.ino.com/exchanges/?c=livestock
February hogs closed up $3.00 at $80.85.
February hogs closed limit up on Friday as it consolidated some of the decline off December's high. The high-range close sets the stage for a steady to higher opening when Tuesday's 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 $81.17 would signal that a short-term low has been posted while opening the door for additional gains near-term. If February extends the aforementioned decline, December's low crossing at $75.35 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 Thursday's low crossing at $77.05. Second support is December's low crossing at $75.35.
April cattle closed up $1.03 at $142.00.
April cattle closed higher on Friday. The high-range close sets the stage for a steady to higher opening on Tuesday. 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 $142.47 would signal that a short-term low has been posted. If April extends the decline off December's high, the 50% retracement level of the September-December rally crossing at $139.44 is the next downside target. First resistance is the 20-day moving average crossing at $142.47. Second resistance is the January 4th gap crossing at $144.08. First support is December's low crossing at $139.92. Second support is the 50% retracement level of the September-November rally crossing at $139.44.
March Feeder cattle closed down $0.40 at $166.33.
March feeder cattle closed lower on Friday as it extends the trading range of the past two-weeks. The mid-range close sets the stage for a steady opening when Tuesday's session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at $164.74 would signal that a short-term top has been posted while opening the door for additional weakness near-term. If March resumes the rally off December's low, August's high crossing at $171.58 is the next upside target. First resistance is December's high crossing at $170.83. Second resistance is August's high crossing at $171.58. First support is the 50-day moving average crossing at $164.74. Second support is December's low crossing at $159.90.
FOOD & FIBERhttp://quotes.ino.com/ex changes/?c=food
March coffee closed higher on Friday. The low-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are neutral signaling that sideways to higher prices are possible near-term. If March extends this month's rally, December's high crossing at 252.35 signal is the next upside target. If March renews the decline off December's high, November's low crossing at 201.45 is the next downside target.
March cocoa closed higher on Friday as it extends the rally off November's low. The mid-range close sets the stage for a steady to higher opening on Tuesday. 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 September 9th high crossing at 27.32 is the next upside target. Closes below the 50-day moving average crossing at 25.07 would signal that a short-term top has been posted.
March sugar closed higher on Friday and the high-range close sets the stage for a steady to higher opening on Tuesday. 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 18.63 would confirm that a low has been posted. If March renews the decline off December's high, the 38% retracement level of the 2020-2021 rally crossing at 17.28 is the next downside target.
March cotton closed higher on Friday as it extends the rally off December's low. The high-range close sets the stage for a steady to higher opening on Tuesday. 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 September's low, monthly resistance on the continuation chart crossing at 121.67 is the next upside target. Closes below the 50-day moving average crossing at 111.80 would signal that a short-term top has been posted.
Thank you tallpine!