KEY EVENTS TO WATCH FOR:

Monday, February 21, 2022 

N/A              U.S. Presidents Day / Washington's Birthday. Financial markets closed

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

The Dow closed lower for the third-day in a row on Friday as tensions between Russia and Ukraine ramp up. Today's low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If the Dow extends the decline off last-Wednesday's high, the January 28^th low crossing at 33,807.51 is the next downside target. Closes above Tuesday's high crossing at 35,047.79 would signal that a short-term low has been posted. First resistance is Tuesday's high crossing at 35,047.79. Second resistance is the 50-day moving average crossing at 36,476.25. First support is the January 28^th low crossing at 33,807.51. Second support is January's low crossing at 33,150.33. 

The March NASDAQ 100 closed sharply lower for the second day in a row on Friday as it extends the decline off February's high. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. If March extends the decline off February's high, the January 28^th low crossing at 13,831.00 is the next downside target. Closes above the 20-day moving average crossing at 14,517.06 would signal that a short-term low has been posted. First resistance is the February 9^th high crossing at 15,268.00. Second resistance is the February 2^nd high crossing at 15,260.00. First support is today's low crossing at 13,906.25. Second support is January's low crossing at 13,706.00.

The March S&P 500 closed lower on Friday as it extended the decline off February's high. The mid-range close sets the stage for a steady to lower opening when Tuesday'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 the decline off February's high, the January 27^th low crossing at 4263.25 is the next downside target. Closes above Wednesday's high crossing at 4484.50 would signal that a short-term low has been posted. First resistance is Wednesday's high crossing at 4484.50. Second resistance is the 50-day moving average crossing at 4580.29. First support is today's low crossing at 4321.00. Second support is the January 27^th low crossing at 4263.25.

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March T-bonds closed up 1-09/32's at 153-08. 

March T-bonds closed higher 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 night 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 153-22 would signal that a short-term low has been posted while opening the door for additional short covering gains. 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. First resistance is the 20-day moving average crossing at 153-22. Second resistance is the January 13^th high crossing at 156-28. First support is Wednesday's low crossing at 150-12. Second support is the 75% retracement level of the 2018-2020-rally on the weekly continuation chart crossing at 150-06.

March T-notes closed up 100-pts. at 126.235.

March T-notes closed higher on Friday as it extends the trading range of the past five-days. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 127.019 would confirm that a short-term low has been posted. If March renews the decline off December's high, the 75% retracement level of the 2018-2020 rally on the monthly continuation chart crossing at 123.084 is the next downside target. First resistance is the 20-day moving average crossing at 127.019. Second resistance is the January 13^th high crossing at 128.270. First support is last-Thursday's low crossing at 125.175. Second support is the 75% retracement level of the 2018-2020 rally on the monthly continuation chart crossing at 123.084. 

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April crude oil closed slightly higher on Friday as it consolidated some of this week's decline. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins. Stochastics and the RSI have turned neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at $88.19 would signal that a short-term top has been posted. If April renews the rally off December's low, monthly resistance crossing at $100.36 is the next upside target. First resistance is Monday's high crossing at $93.83. Second resistance is monthly resistance crossing at $100.36.First support is the 20-day moving average crossing at $88.19. Second support is the January 24^th low crossing at $81.06.   

April heating oil closed higher on Friday as it consolidates some of this week's decline. The high-range close sets the stage for a steady to higher opening when Tuesday's night trading session begins. 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 $269.98 would signal that a short-term top has been posted. If April renews the rally off December's low, monthly resistance crossing at $307.11 is the next upside target. First resistance is Monday's high crossing at $285.43. Second resistance is monthly resistance crossing at $307.11. First support is the 20-day moving average crossing at $269.98. Second support is the February 1^st low crossing at $259.23.  

April unleaded gas closed higher on Friday as it consolidated some of this week's decline. The high-range close sets the stage for a steady to higher opening when Tuesday's night 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 $273.38 would signal that a short-term top has been posted. If April renews the rally off December's low, psychological resistance crossing at $300.00 is the next upside target. First resistance is Monday's high crossing at 291.55. Second resistance is psychological resistance crossing at 300.00. First support is the 20-day moving average crossing at $273.38. Second support is the February 1^st low crossing at $261.88.    

April Henry natural gas closed lower on Friday as it consolidates some of the rally off last-Friday's low. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If April extends the aforementioned rally, February's high crossing at 5.053 is the next upside target. Closes below the 50-day moving average crossing at 3.929 would signal that a short-term top has been posted.First resistance is February's high crossing at 5.053. Second resistance is the 50% retracement level of the 2005-2020-decline crossing at 8.606.First support is the 10-day moving average crossing at 4.204. Second support is the 50-day moving average crossing at 3.929.    

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The March Dollar closed slightly higher on Friday. The high-range close sets the stage for a steady to higher opening when Friday's nights 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 February's high, January's high crossing at $97.44 is the next upside target. If March renews the decline off January's high, January's low crossing at $94.61 is the next downside target. First resistance is Monday's high crossing at $96.43. Second resistance is January's high crossing at $97.44. First support is February's low crossing at $95.15. Second support is January's low crossing at $94.61. 

The March Euro closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Tuesday'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 March renews the decline off last-Thursday's high, January's low crossing at 111.31 is the next downside target. If March renews the rally off January's low, the 38% retracement level of the 2021-2022-decline crossing at 114.63 is the next upside target. First resistance is last-Thursday's high crossing at 115.04. Second resistance is the 38% retracement level of the 2021-2022-decline crossing at 114.63. First support is Monday's low crossing at 112.87. Second support is January's low crossing at 111.31. 

The March British Pound closed lower on Friday as it extended the trading range of the past three-weeks. The mid-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible. If March resumes the rally off January's low, the January high crossing at 1.3745 is the next upside target. Closes below the 50-day moving average crossing at 1.3483 would signal that a short-term top has been posted. If March renews 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 1.3641. Second resistance is January's high crossing at 1.3745. First support is the 50-day moving average crossing at 1.3483. Second support is January's low crossing at 1.3354. 

The March Swiss Franc posted an inside day with a lower close on Friday as it consolidated some of the rally off this month's low. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March renews the rally off January's low, February's high crossing at 1.0907 is the next upside target. If March renews the decline off February's high, January's low crossing at 1.0715 is the next upside target. First resistance is February's high crossing at 1.0907. Second resistance is January's high crossing at 1.1015. First support is February's low crossing at 1.0764. Second support is the January's low crossing at 1.0715.  

The March Canadian Dollar closed lower on Friday 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 Monday'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 March renews the decline off January's high, the January 6^th low crossing at 78.03 is the next downside target. Closes above last-Thursday's high crossing at 79.13 would mark an upside breakout of the aforementioned trading range and confirm that a short-term low has been posted. First resistance is last-Thursday's high crossing at 79.13. Second resistance is January's high crossing at 80.32. 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 closed lower on Friday. The mid-range close sets the stage for a steady to lower opening when Monday’s night 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 0.087209 would signal that a short-term low has been posted. If March renews the decline off January's high, the 75% retracement level of the 2015-2016 rally on the monthly continuation chart crossing at 0.084932 is the next downside target. First resistance is the 50-day moving average crossing at 0.087209. Second resistance is January's high crossing at 0.088170. First support is this month's low crossing at 0.086380. Second support is the 75% retracement level of the 2015-2016 rally crossing at 0.084932.  

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April gold closed lower on Friday as it consolidated some of the rally off December's low due to profit taking ahead of the three-day weekend.The mid-range close sets the stage for a steady to lower opening when Tuesday'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 April extends the rally off January's low, last-May's high crossing at $1922.40 is the next upside target. Closes below the 20-day moving average crossing at $1834.80 would signal that a short-term top has been posted. First resistance is today's high crossing at $1905.00. Second resistance is last-May's high crossing at $1922.40. First support is the 10-day moving average crossing at $1856.20. Second support is the 20-day moving average crossing at $1834.80.  

March silver closed higher on Friday as it extends the rally off February's low. The high-range close sets the stage for a steady to higher opening when Tuesday'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 February's low, January's high crossing at 24.755 is the next upside target. Closes below the 50-day moving average crossing at 23.001 would signal that a short-term top has been posted. First resistance is today's high crossing at 24.115. Second resistance is January's high crossing at 24.755. First support is the 50-day moving average crossing at 23.001. Second support is January's low crossing at 21.945.       

March copper closed slightly higher on Friday.The mid-range close sets the stage for a steady to higher opening when Tuesday's night 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 443.08 would signal that a short-term top has been posted. If March resumes the rally off December's low, last-October's high crossing at 477.70 is the next upside target. First resistance is last-Thursday's high crossing at 470.85. Second resistance is last-October's high crossing at 477.70. First support is the 50-day moving average crossing at 443.08. Second support is January's low crossing at 428.20.

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

May Corn closed up $0.03 1/2-cents at $6.52 3/4. 

May corn closed higher on Friday as it extended the rally off Tuesday's low. The high-range close sets the stage for a steady to higher opening when Tuesday'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 May renews the rally off January's low, the 75% retracement level of 2021's decline on the weekly continuation chart crossing at $6.81 3/4 is the next upside target. Closes below the 20-day moving average crossing at $6.34 1/4 would confirm that a short-term top has been posted while opening the door for additional weakness near-term. First resistance is last-Thursday's high crossing at $6.62 3/4. Second resistance is the 75% retracement level of 2021's decline on the weekly continuation chart crossing at $6.81 3/4. First support is the 20-day moving average crossing at $6.34 1/4. Second support is the 50-day moving average crossing at $6.13 3/4.     

May wheat closed down $0.00 3/4-cents at $8.04.  

May wheat closed fractionally lower on Friday. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If May extends the rally off February's low, January's high crossing at $8.34 is the next upside target. Closes below the 50-day moving average crossing at $7.82 1/2 would signal that a short-term top has been posted. First resistance is Monday's high crossing at $8.20. Second resistance is January's high crossing at $8.34. First support is February's low crossing at $7.46 1/2. Second support is the January 7th low crossing at $7.38 3/4.

May Kansas City Wheat closed up $0.12 1/4-cents at $8.40.

May Kansas City wheat closed higher on Friday as it extends the rally off February's low. The mid-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If May extends the rally off February's low, December's high crossing at $8.69 is the next upside target. Closes below the 50-day moving average crossing at $8.04 1/2 would signal that a short-term top has been posted.First resistance is today's high crossing at $8.54 1/2. Second resistance is December's high crossing at $8.69. First support is the 50-day moving average crossing at $8.04 1/2. Second support is February's low crossing at $7.57.

May Minneapolis wheat closed up $0.04-cents at $9.61 1/4.

May Minneapolis wheat closed higher on Friday. The mid-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are is possible near-term. Closes above last-Thursday's high crossing at $9.75 would renew the rally off January's low while opening the door for additional gains near-term. Closes below the 20-day moving average crossing at $9.31 1/2 would signal that a short-term top has been posted. First resistance is last-Thursday's high crossing at $9.75. Second resistance is the December 27^th high crossing at $10.29. First support is February's low crossing at $8.94 1/2. Second support is January's low crossing at $8.71 1/2.

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

May soybeans closed up $0.07 1/2-cents at $16.03 1/2.

May soybeans closed higher on Friday and posted the highest close of the year.Today's mid-range close sets the stage for a steady to higher opening when Tuesday'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 May resumes the rally off November's low, resistance on the weekly continuation chart crossing at $16.67 1/2 is the next upside target. If May renews the decline off last-Thursday's high, the 20-day moving average crossing at $15.36 is the next downside target. First resistance is last-Thursday's high crossing at $16.34 1/2. Second resistance is long-term resistance on the weekly continuation chart crossing at $16.67 1/2. First support is Tuesday's low crossing at $15.46 1/4. Second support is the 20-day moving average crossing at $15.36.  

May soybean meal closed down $1.80 at $445.70. 

May soybean meal closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends the decline off last-Thursday's high, the 20-day moving average crossing at $432.70 is the next downside target. If May resumes the rally off January's low, the June-2014 high on the monthly continuation chart crossing at $509.40 is the next upside target. First resistance is last-Thursday's high crossing at $474.90. Second resistance is the June-2014 high on the month continuation chart crossing at $509.40. First support is Wednesday's low crossing at $435.80. Second support is the 20-day moving average crossing at $432.70.        

May soybean oil closed up 73 pts. at 67.61. 

May soybean oil 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 when Tuesday'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 May extends the rally off December's low, the 75% retracement level of 2021's decline on the weekly continuation chart crossing at 68.07 is the next upside target. Closes below the 20-day moving average crossing at 65.10 would signal that a short-term top has been posted while opening the door for additional weakness near-term. First resistance is today's high crossing at 67.87. Second resistance is the 75% retracement level of 2021's decline on the weekly continuation chart crossing at 68.07. First support is last-Wednesday's low crossing at 62.81. Second support is the January 24^th low crossing at 61.32. 

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April hogs closed up $1.83 at $109.40. 

April hogs closed higher on Friday as it extends the rally off last-October's low. The high-range close sets the stage for a steady to higher opening when Tuesday's 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 April extends the rally off October's low, monthly resistance on the continuation chart crossing at $110.53 is the next upside target. Closes below the 20-day moving average crossing at $100.68 would signal that a short-term top has been posted. First resistance is today's high crossing at $109.83. Second resistance is monthly resistance on the continuation chart crossing at $110.53. First support is the 10-day moving average crossing at $104.41. Second support is the 20-day moving average crossing at $100.68. 

April cattle closed down $0.90 at $145.87 

April cattle closed lower on Friday. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below last-Tuesday's low crossing at $145.27 would confirm that a short-term top has been posted. If April renews the rally off January's low, the 87% retracement level of the 2014-2020-decline on the monthly continuation chart crossing at $159.54 is the next upside target. First resistance is last-Thursday's high crossing at $148.70. Second resistance is the 87% retracement level of the 2014-2020-decline on the monthly continuation chart crossing at $159.54. First support is last-Tuesday's low crossing at $145.27. Second support is the 20-day moving average crossing at $145.17. 

April Feeder cattle closed down $0.30 at $170.85. 

April feeder cattle closed lower on Friday. The low-range close sets the stage for a steady to lower 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 $169.27 would signal that a short-term top has been posted. If April renews the rally off January's low, weekly resistance on the weekly continuation chart crossing at $174.84 is the next upside target. First resistance is last-Thursday crossing at $173.97. Second resistance is weekly resistance on the weekly continuation chart crossing at $174.84. First support is the 50-day moving average crossing at $169.27. Second support is January's low crossing at $163.90.  

FOOD & FIBERhttp://quotes.ino.com/ex changes/?c=food 

May coffee closed lower on Friday. The mid-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are turning neutral to bearish signaling that sideways to higher prices are possible near-term. Closes below the 50-day moving average crossing at 238.11 would confirm that a short-term top has been posted. If May renews the rally off January's low, monthly resistance on the continuation chart crossing at 280.94 signal is the next upside target.           

May cocoa closed lower for the sixth-day in a row on Friday as it extended the decline off last-Friday's high. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends this week's decline, the 50-day moving average crossing at 26.00 is the next downside target. Closes above the 10-day moving average crossing at 27.27 would signal that a short-term low has been posted.   

May sugar closed slightly lower on Friday. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 18.27 would confirm that a short-term low has been posted. If May renews the decline off January's high, January's low crossing at 17.39 is the next downside target.         

May cotton closed higher on Friday. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are becoming oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends the aforementioned decline, the January 24^th low crossing at 116.72 is the next downside target. Closes above the 10-day moving average crossing at 121.85 would signal that a short-term low has been posted.