KEY EVENTS TO WATCH FOR:
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 Dow plunged sharply lower on Tuesday amid continued interest rate worries. The low-range close sets the stage for a steady to modestly lower opening when Wednesday's session begins trading. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. Today's close below the 50-day moving average crossing at 35,821.26 confirms that a short-term top has been posted while opening the door for a possible test of the December 20th low crossing at 34,665.50. Closes above last-Thursday's high crossing at 36,513.88 would confirm that a short-term low has been posted. First resistance is last-Thursday's high crossing at 36,513.88. Second resistance is the January 3rd high crossing at 36,952.65. First support is today's low crossing at 35,262.02. Second support is the December 20th low crossing at 34,665.50.
The March NASDAQ 100 closed sharply lower on Tuesday as it extends the decline off November's high. The low-range close sets the stage for a steady to lower opening when Wednesday's session begins trading. Stochastics and the RSI have turned neutral to 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 the 2021-rally crossing at 15,043.89 is the next downside target. Closes above the 50-day moving average crossing at 16,104.29 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at 16,14.29. 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 the 2021-rally crossing at 15,043.89.
The March S&P 500 closed sharply lower on Tuesday as it renewed the decline off January's high. Today's low-range close sets the stage for a steady to lower opening when Wednesday's session begins trading. Stochastics and the RSI are neutral to bearish signaling sideways to lower prices are possible near-term. Closes below last-Monday's low crossing at 4575.75 would renew the decline off January's high while opening the door for a possible test of the December 20th low crossing at 4520.25. If March renews the rally off Monday's low, the January 4th high crossing at 4808.25 is the next upside target. First resistance is last-Wednesday's high crossing at 4739.50. 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.
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March T-bonds closed down 1-24/32's at 153-19.
March T-bonds closed sharply lower on Tuesday. The low-range close sets the stage for a steady to lower opening when Wednesday'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 December's high, the March low on the weekly continuation chart crossing at 153-07 is the next downside target. Closes above last-Thursday's high crossing at 156-28 would confirm that a short-term low has been posted. First resistance is last-Thursday's high crossing at 156-28. Second resistance is the 20-day moving average crossing at 158-01. First support is today's low crossing at 153-19. Second support is the March low on the weekly continuation chart crossing at 153-07.
March T-notes closed down 285-pts. at 127.100.
March T-notes closed sharply lower on Tuesday as it extends the decline off last-August's high. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling sideways to lower prices are possible near-term. If March renews the decline off December's high, weekly support crossing at 126.110 is the next downside target. Closes above last-Thursday's high crossing at 128.270 would confirm 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 129.144. First support is today's low crossing at 127.105. Second support is long-term support on the weekly continuation chart crossing at 126.110.
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February crude oil closed higher on Tuesday as it extends the rally off December's low. The high-range close sets the stage for a steady to higher opening when Wednesday's night session begins. 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 $77.49 would signal that a short-term top has been posted. First resistance is today's high crossing at $85.94. Second resistance is monthly resistance crossing at $92.96. First support is the 10-day moving average crossing at $80.71. Second support is the 20-day moving average crossing at $77.49.
February heating oil closed higher on Tuesday as it extends the rally off December's low and posted a new contract high. The high-range close sets the stage for a steady to higher opening when Wednesday's night trading session begins. 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 aforementioned rally, monthly resistance crossing at $279.19 is the next upside target. Closes below the 20-day moving average crossing at $242.90 would signal that a short-term top has been posted. First resistance is today's high crossing at $271.16. Second resistance is monthly resistance crossing at $279.19. First support is the 10-day moving average crossing at $253.94. Second support is the 20-day moving average crossing at $242.90.
February unleaded gas closed on Tuesday as it extended the rally off December's low and posted another new contract high in early trading. The high-range close sets the stage for a steady to higher opening when Wednesday'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 February extends the rally off December's low, monthly resistance crossing at $281.81 is the next upside target. Closes below the 20-day moving average crossing at $227.76 would signal that a short-term top has been posted. First resistance is today's high crossing at 246.92. Second resistance is monthly resistance crossing at 281.81. First support is the 20-day moving average crossing at $227.77. Second support is the 50-day moving average crossing at $219.56.
February Henry natural gas closed slightly higher on Tuesday as it consolidated some of last-week's loss. The high-range close sets the stage for a steady to slightly higher opening when Wednesday'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 3.959 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 crossing at 5.035. Second resistance the November 26th high crossing at 5.400. First support is the 20-day moving average crossing at 3.959. Second support is December's low crossing at 3.518.
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The March Dollar closed sharply higher due to short covering on Tuesday as it consolidated some of last-week's decline. The high-range close sets the stage for a steady to higher opening when Wednesday's nights 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 $95.96 would signal that a short-term low has been posted. If March renews the decline off December's high, the 38% retracement level of 2021's rally crossing at $94.11 is the next downside target. First resistance is the 50-day moving average crossing at $95.96. Second resistance is December's high crossing at $96.90. First support is last-Friday's low crossing at $94.61. Second support is the 38% retracement level of this year's rally crossing at $94.11.
The March Euro closed sharply lower on Tuesday and below the 20-day moving average crossing at 113.57 signaling that a short-term top has been posted. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends today's decline, November's low crossing at 112.22 is the next downside target. If March renewed the rally off November's low, the 25% retracement level of 2021's decline crossing at 115.26 is the next upside target. First resistance is last-Friday's high crossing at 114.96. Second resistance is the 25% retracement level of the January-November decline crossing at 115.26. First support is the reaction low crossing at 112.87. Second support is November's low crossing at 112.22.
The March British Pound closed lower on Tuesday as it consolidated some of the rally off December's low. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are still possible. Closes below the 20-day moving average crossing at 1.3509 would confirm that a short-term top has been posted. If March extends the rally off December's low, October's high crossing at 1.3826 is the next upside target. First resistance is October's high crossing at 1.3826. Second resistance is September's high crossing at 1.3914. First support is the 20-day moving average crossing at 1.3509. Second support is the 50-day moving average crossing at 1.3413.
The March Swiss Franc closed lower on Tuesday as it consolidated some of the rally off last-Tuesday's low. Stochastics and the RSI are turning neutral to bearish signaling that sideways to higher prices are possible near-term. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. If March renews the rally off last-Tuesday's low, 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 December 15th low crossing at 1.0791. Second support is November's low crossing at 1.0712.
The March Canadian Dollar closed higher on Tuesday. The high-range close sets the stage for a steady to higher opening when Wednesday'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 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 last-Thursday's high crossing at 80.29. Second resistance is the November 10th high crossing at 80.70. First support is the 10-day moving average crossing at 79.26. Second support is the 20-day moving average crossing at 78.67.
The March Japanese Yen closed sharply lower on Tuesday. The low-range close sets the stage for a steady to lower opening when Wednesday’s night session begins trading. Stochastics and the RSI are overbought and are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 10-day moving average crossing at 0.086882 would signal that a short-term top has been posted. Multiple closes above the 50-day moving average crossing at 0.087649 would open the door for a possible test of the December 17th high crossing at 88485. 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 last-Tuesday's low crossing at 0.085980.
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February gold closed lower on Tuesday. The mid-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If February extends today's decline, December's low crossing at $1753.00 is the next downside target. If February renews the rally off December's low, September's high crossing at 1838.70 is the next upside target. 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 closed higher on Tuesday as it renewed the rally off December's low. The high-range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Today's close above the 50-day moving acreage crossing at 23.225 confirms that a low has been posted while opening the door for a larger-degree rally near-term. Closes below the 20-day moving average crossing at 22.887 would temper the near-term friendly outlook in the market. First resistance is today's high crossing at 23.680. Second resistance is October's high crossing at 24.960. First support is the January 7th low crossing at 21.945. Second support is December's low crossing at 21.410.
March copper closed lower on Tuesday as it consolidated some of the rally off December's low.The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that a short-term top might be in or is near. Closes below the 50-day moving average crossing at 436.78 would confirm that a short-term top has been posted. If March resumes the rally off December's low, the 75% retracement level of the October-December decline crossing at 461.42 is the next upside target. First resistance is the 75% retracement level of the October-December decline crossing at 461.42. Second resistance is the 87% retracement level of the October-December decline crossing at 469.36. First support is the January 6th low crossing at 431.35. Second support is December's low crossing at 411.95.
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March Corn closed up $0.03 1/4-cents at $5.99 1/2.
March corn closed higher on Tuesday 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 Wednesday'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 the rally off last-Friday's low, December's high crossing at $6.17 3/4 is the next upside target. Multiple closes below the 50-day moving average crossing at $5.89 would confirm that a short-term top has been posted while opening the door for additional weakness near-term. 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 $5.89. Second support is the November 30th low crossing at $5.62 1/2.
March wheat closed up $0.27 1/2-cents at $7.69.
March wheat closed sharply higher on Tuesday as it extended the trading range of the past two-weeks. The high-range close sets the stage for a steady to higher opening when Wednesday's night 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 $7.73 1/2 would signal that a short-term low has been posted. 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. First resistance is the 20-day moving average crossing at $7.73 1/2. Second resistance is the 50-day moving average crossing at $7.94 1/2. First support is the January 7th lowcrossing 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 closed down $0.27 3/4-cents at $7.72 3/4.
March Kansas City wheat closed sharply higher on Tuesday due to short covering as it rebounded off the 50% retracement level of the July-November rally crossing at $7.46 3/4. The high-range close sets the stage for a steady to higher opening when Wednesday'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 December's high, the October 13th low crossing at $7.24 1/4 is the next downside target. Closes above the 50-day moving average crossing at $8.16 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $7.76. Second resistance is the 20-day moving average crossing at $8.01 1/2. First support is the 50% retracement level of the July-November rallycrossing at $7.46 3/4. Second support is the October 13th low crossing at $7.24 1/4.
March Minneapolis wheat closed up $0.28 3/4-cents at $9.07.
March Minneapolis wheat closed sharply higher on Tuesday 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 Wednesday'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, the September 10th low crossing at $8.51 is the next downside target. Closes above the 20-day moving average crossing at $9.64 1/4 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $9.20 3/4. Second resistance is the 20-day moving average crossing at $9.64 1/4. First support is the 38% retracement level of the 2020-2021-decline 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 closed down $0.08 1/2-cents at $13.61 1/4.
March soybeans closed lower on Tuesday as it extended the decline off January's high. Today's high-range close sets the stage for a steady to modestly lower opening when Wednesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Today's close below the 20-day moving average crossing at $13.64 1/4 signals that a short-term top has been posted. If March extends the decline off January's high, the December 30th low crossing at $13.34 1/2 is the next downside target. If January renews the rally off the November 30th 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 December 30th low crossing at $13.34 1/2. Second support is the 50-day moving average crossing at $13.01.
March soybean meal closed down $15.50 at $390.10.
March soybean meal gapped down and closed sharply lower on Tuesday as it extended the decline off January's high. The low-range close sets the stage for a steady to lower opening when Wednesday'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 today's decline, the 50-day moving average crossing at $374.60 is the next downside target. Closes above the 10-day moving average crossing at $411.50 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $411.50. Second resistance is January's high crossing at $431.80. First support is today's low crossing at $389.40. Second support is the 50-day moving average crossing at $374.60.
March soybean oil closed up 62 pts. at 59.08.
March soybean oil closed higher on Tuesday while extending the trading range of the past two weeks. The high-range close sets the stage for a steady to higher opening when Wednesday'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 57.22 would signal that a short-term top has been posted. If March renews the rally off December's low, the 75% retracement level of 2021's decline crossing at 61.16 is the next upside target. First resistance is the 62% retracement level of 2021's decline crossing at 59.24. Second resistance is the 75% retracement level of 2021's decline crossing at 61.16. First support is the 20-day moving average crossing at 57.22. Second support is the December 30th low crossing at 55.57.
LIVESTOCKhttp://quotes.ino.com/exchanges/?c=livestock
February hogs closed up $0.70 at $81.60.
February hogs closed higher on Tuesday as it extended the rally off last-Thursday's low. The high-range close sets the stage for a steady to higher opening when Wednesday's session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Today's close above the 20-day moving average crossing at $81.22 signals that a short-term low has been posted while opening the door for additional gains near-term. If February renews the decline off December's high, 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 last-Thursday's low crossing at $77.05. Second support is December's low crossing at $75.35.
April cattle closed down $0.28 at $141.85.
April cattle posted an inside day with a lower close on Tuesday. The mid-range close sets the stage for a steady to lower opening on Wednesday. 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 $142.54 would signal that a short-term low has been posted. If April renews 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 $142.54. 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 $0.93 at $165.45.
March feeder cattle closed lower on Tuesday as it extends the trading range of the past three-weeks. The low-range close sets the stage for a steady to lower opening when Wednesday'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 $164.86 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 $164.86. Second support is December's low crossing at $159.90.
FOOD & FIBERhttp://quotes.ino.com/ex changes/?c=food
March coffee closed lower on Tuesday. The mid-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are neutral signaling that sideways trading is 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 lower on Tuesday as it consolidated some of the rally off November's low. The low-range close sets the stage for a steady to lower opening on Wednesday. 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 25.02 would signal that a short-term top has been posted.
March sugar gapped up and closed higher on Tuesday as it extended the rally off last-Monday's low. The mid-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Multiple closes above the 20-day moving average crossing at 18.61 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 Tuesday as it extends the rally off December's low. The high-range close sets the stage for a steady to higher opening on Wednesday. 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 111.97 would signal that a short-term top has been posted.
Thanks tallpine!