KEY EVENTS TO WATCH FOR:

Wednesday, February 9, 2022  

7:00 AM ET. MBA Weekly Mortgage Applications Survey

                       Composite Idx (previous 617.8)

                       Composite Idx, W/W% (previous +12.0%)

                       Purchase Idx-SA (previous 312.2)

                       Purchase Idx-SA, W/W% (previous +4.0%)

                       Refinance Idx (previous 2355.4)

                       Refinance Idx, W/W% (previous +18.4%)

10:00 AM ET. December Monthly Wholesale Trade

                       Inventories, M/M% (previous +1.4%)

10:00 AM ET. January Online Help Wanted Index

10:30 AM ET. EIA Weekly Petroleum Status Report

                       Crude Oil Stocks (Bbl) (previous 415.143M)

                       Crude Oil Stocks, Net Chg (Bbl) (previous -1.047M)

                       Gasoline Stocks (Bbl) (previous 250.037M)

                       Gasoline Stocks, Net Chg (Bbl) (previous +2.119M)

                       Distillate Stocks (Bbl) (previous 122.744M)

                       Distillate Stocks, Net Chg (Bbl) (previous -2.41M)

                       Refinery Usage (previous 86.7%)

                       Total Prod Supplied (Bbl/day) (previous 21.41M)

                       Total Prod Supplied, Net Chg (Bbl/day) (previous -1.007M)

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)

Thursday, February 10, 2022  

8:30 AM ET. Unemployment Insurance Weekly Claims Report - Initial Claims

                       Jobless Claims (previous 238K)

                       Jobless Claims, Net Chg (previous -23K)

                       Continuing Claims (previous 1628000)

                       Continuing Claims, Net Chg (previous -44K)

8:30 AM ET. January CPI

                       CPI, M/M% (previous +0.5%)

                       Core CPI, M/M% (previous +0.6%)

                       Energy Idx, M/M% (previous -0.4%)

                       Food Idx, M/M% (previous +0.5%)

                       Real Avg Wkly Pay-Infla Adj, M/M% (previous +0.1%)

                       CPI, Y/Y% (previous +7%)

                       Core Annual, Y/Y% (previous +5.5%)

8:30 AM ET. January Real Earnings

8:30 AM ET. U.S. Weekly Export Sales

                       Corn (Metric Tons) (previous 1175.2K)

                       Soybeans (Metric Tons) (previous 1977.3K)

                       Wheat (Metric Tons) (previous 161K)

9:45 AM ET. Consumer Comfort Index

10:30 AM ET. EIA Weekly Natural Gas Storage Report

                       Working Gas In Storage (Cbf) (previous 2323B)

                       Working Gas In Storage, Net Chg (Cbf) (previous -268B)

2:00 PM ET. January Monthly Treasury Statement of Receipts & Outlays of the U.S. Govt

4:30 PM ET. Foreign Central Bank Holdings

4:30 PM ET. Federal Discount Window Borrowings

Friday, February 11, 2022  

10:00 AM ET. February University of Michigan Survey of Consumers – preliminary

                       Mid-Mo Sentiment (previous 68.8)

                       Mid-Mo Expectations (previous 65.9)

                       Mid-Mo Current Idx (previous 73.2)

The STOCK INDEXES? http://quotes.ino.com/ex?changes/?c=indexes  

The STOCK INDEXES: The March NASDAQ 100 was higher overnight as it extends Tuesday's rally and sets the stage for a steady to higher 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 last-Wednesday's high crossing at 15,260.00 are needed to renew the rally off January's low with the 50-day moving average crossing at 15,569.31 being the next upside target. Closes below last-Friday's low crossing at 14,362.75 would signal that a short-term top has been posted. First resistance is last-Wednesday's high crossing at 15,260.00. Second resistance is the 50-day moving average crossing at 15,569.31. First support is last-Friday's low crossing at 14,362.75. Second support is January's low crossing at 13,706.00.

The March S&P 500 was higher overnight as it extends the rebound off last-Friday's low and sets the stage for a higher 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. If March extends the rally off January's low, the 50-day moving average crossing at 4602.57 is the next upside target. Closes below last-Friday's low crossing at 4438.50 would signal that a short-term top has been posted while opening the door for additional weakness near-term. First resistance is the 50-day moving average crossing at 4602.57. Second resistance is the December 12^th high crossing at 4739.50. First support is last-Friday's low crossing at 4438.50. Second support is January's low crossing at 4212.75.  

INTEREST RATES http://quotes.ino.com/ex changes/?c=interest"

INTEREST RATES: March T-bonds was higher overnight as it consolidates some of the decline off December's high. 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 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 75% retracement level of the 2018-2020-rally on the weekly continuation chart crossing at 150-06 is the next downside target. Closes above the 20-day moving average crossing at 154-28 would temper the near-term bearish outlook. First resistance is the January 13^th high crossing at 156-28. Second resistance is the 50-day moving average crossing at 158-04. First support is Tuesday's low crossing at 152-14. Second support is the 75% retracement level of the 2018-2020-rally on the weekly continuation chart crossing at 150-06.

March T-notes was higher overnight as it consolidates some of the decline off December's high. Overnight trading sets the stage for a steady to higher 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 decline off December's high, weekly support crossing at 126.110 is the next downside target. Closes above the 20-day moving average crossing at 127.240 would temper the near-term bearish outlook. First resistance is the January 13^th high crossing at 128.270. Second resistance is the 50-day moving average crossing at 129.071. First support is the overnight low crossing at 126.135. Second support is weekly support crossing at 126.110.   

ENERGY MARKETS? http://quotes.ino.com/ex?changes/?c=energy ""

ENERGIES:March crude oil was steady to lower overnight as it extends the decline off last-Friday's high. 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 bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at $86.73 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 2008-2020-decline on the monthly continuation chart crossing at $100.36 is the next upside target. First resistance is last-Friday's high crossing at $93.17. Second resistance is the 75% retracement level of the 2008-2020-decline on the monthly continuation chart crossing at $100.36. First support is the 20-day moving average crossing at $86.73. Second support is the January 24^th low crossing at $81.90.

March heating oil was lower overnight as it consolidates some of the rally off December'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 bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at $2.6956 would confirm that a short-term top has been posted. If March renews the rally off December's low, the 75% retracement level of the 2008-2020 decline on the monthly continuation chart crossing at $3.2643 is the next upside target. First resistance is Monday's high crossing at $2.9318. Second resistance is the 75% retracement level of the 2008-2020 decline on the monthly continuation chart crossing at $3.2643. First support is the 20-day moving average crossing at $2.6956. Second support is the January 24^th low crossing at $2.5616.  

March unleaded gas was steady to slightly higher overnight. The mid-range trade overnight sets the stage for a steady to higher opening when the day 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 20-day moving average crossing at $2.5229 would signal that a short-term top has been posted. If March extends the rally off December's low, monthly resistance crossing at $2.8181 is the next upside target. First resistance is Monday's high crossing at $2.7200. Second resistance is monthly resistance crossing at $2.8181. First support is the 20-day moving average crossing at $2.5229. Second support is the January 24^th low crossing at $2.3736.    

March Henry natural gas was lower overnight as it extended the decline off last-Wednesday's high. Overnight trading sets the stage for a steady to lower 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 extends the decline off last-Wednesday's high, the 50-day moving average crossing at 3.940 is the next downside target. Closes above the 10-day moving average crossing at 4.614 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at 4.614. Second resistance is last-Wednesday's high crossing at 5.572. First support is the 50-day moving average crossing at 3.940. Second support is the January 20^th low crossing at 3.629. 

CURRENCIEShttp://quotes.ino.com/ex changes/?c=currencies"

CURRENCIES:The March Dollar was lower overnight as it extends the trading range of the past three-days. 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 January's high, the January 14^th low crossing at $94.61 is the next downside target. Closes above the 10-day moving average crossing at 96.07 would signal that a short-term low has been posted. First resistance is January's high crossing at $97.44. Second resistance is weekly resistance on the weekly continuation chart crossing at 99.31. First support is last-Friday's low crossing at $95.15. Second support is January's low crossing at $94.61.

The March Euro was steady to higher overnight. The mid-range overnight trade 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 January's low, the 38% retracement level of the 2020-2021-decline crossing at $116.26 is the next upside target. Closes below the 10-day moving average crossing at $113.35 would signal that a short-term top has been posted. First resistance is January's high crossing at $114.96. Second resistance is the 38% retracement level of the 2021-2022-decline crossing at $116.26. First support is the 10-day moving average crossing at $113.35. Second support is January's low crossing at $111.31.

The March British Pound was steady to higher overnight as it extends the rally off Monday's low. Overnight trading sets the stage for a steady to higher 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 resumes the rally off January's low, January's high crossing at 1.3745 is the next upside target.If March resumes the decline off January's high, the 75% retracement level of the December-January rally crossing at 1.3311 is the next downside target.First resistance is last-Thursday's high crossing at 1.3627. Second resistance is January's high crossing at 1.3745. First support is Monday's low crossing at 1.3487. Second support is the 50-day moving average crossing at 1.3441.

The March Swiss Franc was steady to higher overnight as it consolidates some of the decline off last-Wednesday's high. 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 last-Wednesday's high crossing at 1.0907 would signal that a short-term low has been posted while opening the door for additional short-term gains. If March renews the decline off January's high, January's low crossing at 1.0715 is the next downside target. First resistance is last-Wednesday's high crossing at 1.0907. Second resistance is the January 21^st high crossing at 1.0994. First support is November's low crossing at 1.0712. Second support is weekly support on the weekly continuation chart crossing at 1.0673.  

The March Canadian Dollar is working on an inside day but was slightly higher overnight as it extends the trading range of the past two-weeks. Stochastics and the RSI are neutral signaling that sideways trading is possible near-term. If March resumes the decline off January's high, the January 6^th low crossing at $78.03 is the next downside target. Closes above the 20-day moving average crossing at $79.17 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at $79.17. Second resistance is the January 26^th high crossing at $79.66. First support is the January 6^th low crossing at $78.03. Second support is December's low crossing at $77.13.

The March Japanese Yen was steady to slightly higher overnight and sets the stage for a steady to slightly higher opening when the day session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that a sideways to lower prices are possible near-term. If March extends the decline off January's high, December's low crossing at 0.085980 is the next downside target. Closes above the 50-day moving average crossing at 0.087455 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at 0.087455. Second resistance is January's high crossing at 0.088170. First support is the overnight low crossing at 0.086380. Second support is the December 4^th low crossing at 0.085980.  

PRECIOUS METALS http://quotes.ino.com/ex changes/?c=metals"

PRECIOUS METALS: Aprilgold was steady to slightly higher overnight as it extends the rally off January's low. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If April extends the rally off January's low, January's high crossing at $1856.70 is the next upside target. Closes below the 50-day moving average crossing at $1806.90 would signal that a short-term top has been posted. First resistance is the overnight high crossing at $1830.30. Second resistance is January's high crossing at $1856.70. First support is the January 28^th low crossing at $1780.60. Second support is December's low crossing at $1755.40.

March silver was slightly higher overnight as it extends the rally off last-Thursday's low. 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 neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at $23.230 would confirm that a short-term low has been posted. If March renews the decline off January's high, January's low crossing at $21.945 is the next downside target. First resistance is the 20-day moving average crossing at $23.230. Second resistance is the 50% retracement level of the November-December decline crossing at $23.482. First support is January's low crossing at $21.945. Second support is December's low crossing at $21.410.  

March copper was steady to higher overnight. The high-range overnight trade sets the stage for a higher opening when the day session begins trading. Stochastics and the RSI are neutral signaling that sideways trading is possible near-term. If March renews the rally off last-Monday's low, January's high crossing at 4.6010 is the next upside target. Closes below the 50-day moving average crossing at 4.3957 would signal that a short-term top has been posted. First resistance is Monday's high crossing at 4.5195. Second resistance is January's high crossing at 4.6010. First support is the 62% retracement level of the December-January rally crossing at 4.3026. Second support is the 75% retracement level of the December-January rally crossing at 4.2388.

GRAINS http://quotes.ino.com/ex changes/?c=grains

March corn was higher overnight as it extends the rally off last-Thursday's low. The high-range trade overnight sets the stage for a steady to lower opening when the day sessions begins trading. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. If March resumes the rally off September's low, weekly resistance on the continuation chart crossing at $6.49 1/4 is the next upside target. Closes below the 20-day moving average crossing at $6.18 1/2 would signal that a short-term top has been posted. First resistance is January's high crossing at $6.42 1/2. Second resistance is weekly resistance on the continuation chart crossing at $6.49 1/4. First support is the 20-day moving average crossing at $6.18 1/2. Second support is the 50-day moving average crossing at $6.03 1/2. 

March wheat was lower overnight as it consolidates some of Tuesday's gains. 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 50-day moving average crossing at $7.79 1/2 would signal that a short-term low has been posted. If March renews the decline off January's high, January's low crossing at $7.35 1/2 is the next downside target. First resistance is last-Monday's high crossing at $7.98 1/2. Second resistance is January's high crossing at $8.31 1/2. First support is last-Thursday's low crossing at $7.40. Second support is January's low crossing at $7.35 1/2.

March Kansas City wheat was steady to lower overnight as it consolidates some of its recent gains off last-Thursday's low. 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 $8.03 would signal that a short-term low has been posted. If March renews the decline off January's high, the 50% retracement level of the July-November rally crossing at $7.46 3/4 is the next upside target. First resistance is the 50-day moving average crossing at $8.03. Second resistance is January's high crossing at $8.49 1/4. First support is last-Thursday's low crossing at $7.53 1/4. Second support is the 50% retracement level of the July-November rally crossing at $7.46 3/4.

March Minneapolis wheat was steady to lower overnight as it extends the trading range of the past two-weeks. 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. Closes above the January 25^th high crossing at $9.65 would confirm that a short-term low has been posted while opening the door for additional short-term gains. If March resumes the decline off the January 25^th high, the 38% retracement level of 2020-2021-rally crossing at $8.78 1/2 is the next downside target. First resistance is Tuesday's high crossing at $9.41 3/4. Second resistance is the January 25^th high crossing at $9.65. First support is the 38% retracement level of 2020-2021-rally crossing at $8.78 1/2. Second support is the September 10^th low crossing at $8.51.  

SOYBEAN COMPLEX? http://quotes.ino.com/ex?changes/?c=grains " 

March soybeans was higher overnight and remains poised to extend the rally off November's low. 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off November's low, the 87% retracement level of 2021's decline on the weekly continuation chart crossing at $16.03 1/2 is the next upside target. Closes below the 10-day moving average crossing at $15.31 1/2 would signal that a short-term top has been posted. First resistance is Monday's high crossing at $15.89 1/2. Second resistance is the 87% retracement level of 2021's decline on the weekly continuation chart crossing at $16.03 1/2. First support is the 10-day moving average crossing at $15.31 1/2. Second support is the 20-day moving average crossing at $14.65.

March soybean meal was higher overnight as it extends the rally off October's low. 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 March extends the rally off January's low, the January-2021 high on the monthly continuation chart crossing at $471.40 is the next upside target. Closes below the 20-day moving average crossing at $417.50 would signal that a short-term top has been posted. First resistance is the overnight high crossing at $458.30. Second resistance is the January-2021 high on the monthly continuation chart crossing at $471.40. First support is the 10-day moving average crossing at $435.10. Second support is the 20-day moving average crossing at $417.50. 

March soybean oil was higher overnight as it consolidates some of Tuesday's sharp decline. Overnight trading sets the stage for a higher opening when the day session begins trading. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 63.02 would signal that a short-term top has been posted. If March resumes the rally off December's low, the 75% retracement level of the 2021's decline on the weekly continuation chart crossing at 68.07 is the next upside target. First resistance is last-Wednesday's high crossing at 66.92. Second resistance is the 75% retracement level of the 2021's decline on the weekly continuation chart crossing at 68.07. First support is the 20-day moving average crossing at 63.02. Second support is the January 21^st low crossing at 61.74.