KEY EVENTS TO WATCH FOR:

Thursday, March 10, 2022 

8:30 AM ET. February Real Earnings

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

                       Corn (Metric Tons) (previous 707.9K)

                       Soybeans (Metric Tons) (previous 2243K)

                       Wheat (Metric Tons) (previous 369.8K)

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

                       Jobless Claims (expected 216K; previous 215K)

                       Jobless Claims, Net Chg (previous -18K)

                       Continuing Claims (previous 1476000)

                       Continuing Claims, Net Chg (previous +2K)

8:30 AM ET. February CPI

                       CPI, M/M% (expected +0.7%; previous +0.6%)

                       Core CPI, M/M% (expected +0.5%; previous +0.6%)

                       Energy Idx, M/M% (previous +0.9%)

                       Food Idx, M/M% (previous +0.9%)

                       Real Avg Wkly Pay-Infla Adj, M/M% (previous -0.5%)

                       CPI, Y/Y% (expected +7.8%; previous +7.5%)

                       Core Annual, Y/Y% (expected +6.4%; previous +6%)

10:00 AM ET. SEC Investor Advisory Committee Quarterly Meeting

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

                       Working Gas In Storage (Cbf) (previous 1643B)

                       Working Gas In Storage, Net Chg (Cbf) (previous -139B)

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

2:00 PM ET. SEC Closed Meeting

4:30 PM ET. Foreign Central Bank Holdings

4:30 PM ET. Federal Discount Window Borrowings

Friday, March 11, 2022  

10:00 AM ET. 4^th Quarter Quarterly Services

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

                       Mid-Mo Sentiment (expected 62.0; previous 61.7)

                       Mid-Mo Expectations (previous 57.4)

                       Mid-Mo Current Idx (previous 68.5)

Monday, March 14, 2022  

10:00 AM ET. January State Employment and Unemployment

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

The Dow closed sharply higher on Wednesday triggered by a sharp sell off in the crude oil market.The high-range close sets the stage for a steady to higher opening when Thursday'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 decline off February's high continues, a retest of the 25% retracement level of the 2020-2022-rally crossing at 32,264.22 is possible. Closes above the 20-day moving average crossing at 33,995.20 would signal that a short-term low has been posted while opening the door for additional short-covering gains. First resistance is last-Thursday's high crossing at 34,179.07. Second resistance is the 50-day moving average crossing at 34,928.80. First support is the 25% retracement level of the 2020-2022-rally crossing at 32,264.22. Second support is the March-2021 low crossing at 30,547.53.

The June NASDAQ 100 closed sharply higher on Wednesday as it consolidates some of the decline off last-Thursday's high. The high-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. If June resumes the decline off February's high, the March-2021 low crossing at 12,727.50 is the next downside target. Closes above last-Thursday's high crossing at 14,389.00 would signal that a short-term low has been posted. First resistance is last-Thursday's high crossing at 14,389.00. Second resistance is the 50-day moving average crossing at 14,800.00. First support is February's low crossing at 13,031.00. Second support is the March-2021 low crossing at 12,727.50. 

The June S&P 500 closed sharply higher on Wednesday as it consolidated some of the decline off last-Thursday's high. The high-range close sets the stage for a steady to higher opening when Thursday'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 renews the decline off February's high, the 75% retracement level of the 2020-2022 rally crossing at 4018.92 is the next downside target. Closes above last-Thursday's high crossing at 4410.50 would confirm that a short-term low has been posted. First resistance is last-Thursday's high crossing at 4410.50. Second resistance is the February 16^th high crossing at 4476.50. First support is February's low crossing at 4094.25. Second support is the 75% retracement level of the 2020-2022 rally crossing at 4018.92.

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

June T-bonds closed down 1-22/32's at 155-12. 

June T-bonds closed sharply lower on Wednesday as it consolidates some of the rally off February's low. The low-range close sets the stage for a steady to lower opening when Thursday'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 20-day moving averagecrossing at 155-11 would signal that a short-term top has been posted. If June extends the rally off February's low, the 62% retracement level of the December-February decline crossing at 160-17 is the next upside target. First resistance is the 62% retracement level of the December-February decline crossing at 160-17. Second resistance is the 75% retracement level of the December-February decline crossing at 162-12. First support is 20-day moving average crossing at 155-11. Second support is February's low crossing at 151-29.

June T-notes closed down 180-pts. at 127.190.

June T-notes closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI have turned neutral to bearish signaling sideways to lower prices are possible near-term. Today's close below the 20-day moving average crossing at 126.249 signals that a short-term top has been posted. If June extends this week's decline, the February 25^th low crossing at 125.290 is the next downside target. Closes above Tuesday's high crossing at 128.040 would temper the near-term bearish outlook. First resistance is the 62% retracement level of the December-February decline crossing at 129.043. Second resistance is the 75% retracement level of the December-February decline crossing at 129.296. First support is the February 25^th low crossing at 125.290. Second support is the February 10^th low crossing at 125.145.  

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

May crude oil closed sharply lower on Wednesday as it consolidates some of the rally off December's low. The low-range close sets the stage for a steady to lower opening when Thursday's night session begins. Stochastics and the RSI are overbought and are turning neutral to bearish signaling that sideways to lower prices are still possible. Closes below the 20-day moving average crossing at $96.57 would signal that a short-term top has been posted. If May extends the rally off December's low, the 2008 high on the monthly continuation chart crossing at $147.27 is the next upside target. First resistance is Monday's high crossing at $126.41. Second resistance is the 2008 high on the monthly continuation chart crossing at $147.27. First support is the 10-day moving average crossing at $103.97. Second support is the 20-day moving average crossing at $96.57.   

May heating oil closed sharply lower on Wednesday but not before posting another new all-time high. The low-range close sets the stage for a steady to lower opening when Thursday's night trading session begins. Stochastics and the RSI are overbought, diverging 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 $3.2867 would signal that a short-term top has been posted. If May extends the rally off December's low into uncharted territory, upside targets will be hard to project. First resistance is today's high crossing at $4.3138. Second resistance is unknown. First support is the 10-day moving average crossing at $3.2867. Second support is the 20-day moving average crossing at $2.9988.    

May unleaded gas closed sharply lower on Wednesday as it consolidates some of the rally off December's low. The low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are overbought, diverging 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 $3.0097 would signal that a short-term top has been posted. If May extends the rally off December's low, the 2008 high on the monthly continuation chart crossing at $4.1140 is the next upside target. First resistance is Monday's high crossing at 3.8075. Second resistance is the 2008 high on the monthly continuation chart crossing at $4.1140. First support is the 10-day moving average crossing at $3.2141. Second support is the 20-day moving average crossing at $3.0097.     

May Henry natural gas closed slightly lower on Wednesday as it extended the decline off Monday's high. The mid-range close sets the stage for a steady to lower opening when Thursday'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 last-Tuesday's low crossing at 4.361 would signal that a short-term top has been posted while opening the door for additional weakness near-term. Closes above Monday's high crossing at 5.199 would renew this year's rally while opening the door for additional gains near-term. First resistance is Monday's high crossing at 5.199. Second resistance is the February-2014 high on the monthly continuation chart crossing at 6.493. First support is last-Tuesday's low crossing at 4.361. Second support is the 50-day moving average crossing at 4.198.    

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

The June Dollar closed sharply lower on Wednesday as it consolidates some of the rally off January's low. The low-range close sets the stage for a steady to lower opening when Thursday's nights 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 $96.86 would signal that a short-term top has been posted. If June extends the rally off February's high, the 75% retracement level of the 2020-2021-decline on the monthly continuation chart crossing at $100.26 is the next upside target. First resistance is Monday's high crossing at $99.46. Second resistance is the 75% retracement level of the 2020-2021-decline on the monthly continuation chart crossing at $100.26. First support is the 10-day moving average crossing at $97.82. Second support is the 20-day moving average crossing at $96.86.  

The June Euro closed sharply higher on Wednesday as it consolidated some of the decline off February's high. The high-range close sets the stage for a steady to higher opening when Thursday'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 112.57 would signal that a short-term low has been posted. If June extends the decline off February's high, is the March-2020 low on the weekly continuation chart crossing at $106.71 is the next downside target. First resistance is the 10-day moving average crossing at 111.12. Second resistance is the 20-day moving average crossing at 112.57. First support is Monday's low crossing at 108.46. Second support is the March-2020 low on the weekly continuation chart crossing at $106.71.

The June British Pound closed higher on Wednesday as it consolidates some of the decline off January's high. The high-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible. If June extends the decline off January's high, the 50% retracement level of the 2020-2021-rally crossing at 1.2894 is the next downside target. Closes above the 20-day moving average crossing at 1.3417 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at 1.3278. Second resistance is the 20-day moving average crossing at 1.3417. First support is Monday's low crossing at 1.3074. Second support is the 50% retracement level of the 2020-2021-rally crossing at 1.2894. 

The June Swiss Franc posted an inside day with a higher close on Wednesday. The high-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends this week's decline, January's low crossing at 1.0762 is the next downside target. Closes above the 50-day moving average crossing at 1.0910 would signal that a short-term low has been posted. First resistance is February's high crossing at 1.0972. Second resistance is January's high crossing at 1.1045. First support is Tuesday's low crossing at 1.0789. Second support is the January's low crossing at 1.0762.  

The June Canadian Dollar posted an inside day with a higher close on Wednesday as it consolidates some of the decline off last-Thursday's high. The high-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends the decline off January's high, December's low crossing at 77.19 is the next downside target. Closes above the 50-day moving average crossing at 78.78 would signal that a short-term low has been posted. First resistance is last-Thursday's high crossing at 79.44. Second resistance is January's high crossing at 80.24. First support is Monday's low crossing at 77.51. Second support is December's low crossing at 77.19.

The June Japanese Yen closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening when Thursday’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 June 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. Closes above the February 24^th high crossing at 0.087590 would signal that a short-term low has been posted. First resistance is the February 24^th high crossing at 0.087590. Second resistance is January's high crossing at 0.088310. First support is February's low crossing at 0.088170. Second support is the 75% retracement level of the 2015-2016 rally on the monthly continuation chart crossing at 0.084932.  

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

April gold closed sharply lower on Wednesday as it consolidates some of the rally off December's low. The low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are overbought, diverging 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 $1912.50 would signal that a short-term top has been posted. If April extends the rally off January's low, the 2020 high crossing at $2117.10 is the next upside target. First resistance is the 87% retracement level of the 2020-2021-decline crossing at $2061.00. Second resistance is the 2020 high crossing at $2117.10. First support is the 10-day moving average crossing at $1951.80. Second support is the 20-day moving average crossing at $1912.50.  

May silver closed sharply lower on Wednesday 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 Thursday's night session begins trading. Stochastics and the RSI are overbought, diverging 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 24.585 would signal that a short-term top has been posted. If May extends the rally off February's low, the 75% retracement level of the 2020-2021 decline crossing at 28.134 is the next upside target.First resistance is the 62% retracement level of the 2020-2021 decline crossing at 26.956. Second resistance is the 75% retracement level of the 2020-2021 decline crossing at 28.134. First support is the 10-day moving average crossing at 25.346. Second support is the 20-day moving average crossing at 24.585.       

May copper closed sharply lower on Wednesday as it extended the decline off Monday's high. The low-range close sets the stage for a steady to lower opening when Thursday'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 4.5909 signals that a short-term top has been posted. If May extends this week's decline, the 50-day moving average crossing at 4.5018 is the next downside target. If May renews the rally off December's low into uncharted territory, upside target will be hard to project. First resistance is Monday's high crossing at 5.0395. Second resistance is unknown. First support is the 50-day moving average crossing at 4.5018. Second support is the February 24^th low crossing at 4.4470.

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

May Corn closed down $0.20-cents at $7.33. 

May corn closed lower on Wednesday as it extended the decline off last-Friday's high. The low-range close sets the stage for a steady to lower opening when Thursday'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 10-day moving average crossing at $7.22 1/2 would temper this year's rally. If May corn renews the rally off last-September's low, psychological resistance crossing at $8.00 is the next upside target. First resistance is last-Friday's high crossing at $7.82 3/4. Second resistance is psychological resistance crossing at $8.00. First support is the 10-day moving average crossing at $7.22 1/2. Second support is the 20-day moving average crossing at $6.87 3/4.     

May wheat closed down $0.85-cents at $12.01 1/2.  

May wheat closed limit down on Wednesday as it consolidates some of the rally off January's low. The limit-down close sets the stage for a lower opening when Thursday'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 February's low into uncharted territory, upside targets will be hard to project. Today's close below Monday's gap crossing at $12.09 signals that a short-term top has been posted. First resistance is Tuesday's high crossing at $13.63 1/2. Second resistance is unknown. First support is Monday's gap crossing at $12.09. Second support is last-Friday's gap crossing at $11.34.

May Kansas City Wheat closed down $0.85-cents at $11.14 1/2.

May Kansas City wheat closed limit down on Tuesday as it consolidated some of the decline off Monday's high. The low-range close sets the stage for a lower opening when Thursday'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. Today's close below last-Friday's gap crossing at $11.50 1/4 signals that a short-term top has been posted. If May extends this week's decline, the 10-day moving average crossing at $10.81 3/4. If May extends the rally off February's low, the 2008-high on the monthly continuation chart crossing at $13.84 3/4 is the next upside target. First resistance is Monday's high crossing at $12.99 1/2. Second resistance is the 2008-high on the monthly continuation chart crossing at $13.84 3/4. First support is the 10-day moving average crossing at $10.81 3/4. Second support is the 20-day moving average crossing at $9.59 1/2.

May Minneapolis wheat closed down $0.60-cents at $10.84.

May Minneapolis wheat closed limit down on Wednesday as it consolidated some of the rally off January's low. The limit down close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are overbought and are turning neutral to bearish signaling that sideways to lower prices are is possible near-term. Closes below the 20-day moving average crossing at $10.19 3/4 would signal that a short-term top has been posted. If May extends the rally off January's low, the 38% retracement level of the 2008-2009 decline on monthly continuation chart crossing at $12.21 1/2 is the next upside target. First resistance is Tuesday's high crossing at $12.11 3/4. Second resistance is the 38% retracement level of the 2008-2009 decline on monthly continuation chart crossing at $12.21 1/2. First support is the 10-day moving average crossing at $10.77 1/2. Second support is the 20-day moving average crossing at $10.19 3/4. 

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

May soybeans closed down $0.18-cents at $16.71 3/4

May soybeans closed lower on Wednesday as it extends the trading range of the past six-days. The low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are neutral signaling that sideways trading is possible near-term. If May resumes the rally off November's low, the 2012 high on the monthly continuation chart crossing at $17.89 is the next upside target. Closes below the 20-day moving average crossing at $16.28 would signal that a short-term top has been posted. First resistance is February's high crossing at $17.59 1/4. Second resistance is the 2012 high on the monthly continuation chart crossing at $17.89. First support is the 20-day moving average crossing at $16.28. Second support is the February 25^th low crossing at $15.79.  

May soybean meal closed up $1.40 at $474.70. 

May soybean meal closed higher on Wednesday. The low-range close sets the stage for a steady to lower opening when Thursday'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 renews the rally off last-October's low, psychological resistance crossing at $500.00 is the next upside target. Closes below the February 16^th low crossing at $435.80 would signal that a short-term top has been posted. First resistance is February's high crossing at $487.00. Second resistance is psychological resistance crossing at $500.00. First support is the February 16^th low crossing at $435.80. Second support is the 50-day moving average crossing at $428.60.        

May soybean oil closed down 160 pts. at 74.15. 

May soybean oil closed sharply lower as it posted a key reversal down on Wednesday. The low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are turning neutral signaling that sideways trading is possible near-term. Closes below the 20-day moving average crossing at 70.27 would signal that a short-term top has been posted while opening the door for additional weakness near-term. If May extends the rally off December's low into uncharted territory, upside targets will be hard to project. First resistance is today's high crossing at 78.58. Second resistance is unknown. First support is the 20-day moving average crossing at 70.27. Second support is the February 25^th low crossing at 68.22. 

LIVESTOCKhttp://quotes.ino.com/exchanges/?c=livestock 

April hogs closed down $1.98 at $100.95. 

April hogs closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening when Thursday's session begins trading. Stochastics and the RSI are becoming oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If April extends the decline off February's high, the 50-day moving average crossing at 97.12 is the next downside target. Closes above last-Friday's gap crossing at $105.05 would signal that a short-term low has been posted. First resistance is last-Thursday's high crossing at $107.45. Second resistance is February's high crossing at $112.85. First support is Monday's low crossing at $98.47. Second support is the 50-day moving average crossing at $97.12. 

April cattle closed down $1.55 at $137.50 

April cattle closed lower on Wednesday ending a two-day bounce off last-Friday's low. The low-range close sets the stage for a steady to lower opening on Thursday. 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 $143.40 would signal that a short-term low has been posted. If April extends the decline off February's high, the 50% retracement level of the 2020-2022-rally crossing at $132.46 is the next downside target. First resistance is the 10-day moving average crossing at $139.49. Second resistance is the 20-day moving average crossing at $143.40. First support is last-Friday's low crossing at $133.50. Second support is the 50% retracement level of the 2020-2022-rally crossing at $132.46. 

April Feeder cattle closed down $0.40 at $159.92. 

April feeder cattle closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening when Thursday'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 $166.09 would signal that a short-term low has been posted. If April resumes the decline off February's high, the 87% retracement level of the 2021-2022 rally crossing at $152.09 is the next downside target. First resistance is the 10-day moving average crossing at $161.11. Second resistance is the 20-day moving average crossing at $166.09. First support is last-Friday's low crossing at $154.27. Second support is the 87% retracement level of the 2021-2022 rally crossing at $152.09.  

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

May coffee closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening on Thursday. 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 24.09 would signal that a short-term low has been posted. If May extends the aforementioned decline, the 38% retracement level of the 2020-2022-rally crossing at 20.24 is the next downside target.            

May cocoa closed higher on Wednesday as it extended the rally off last-Tuesday's low. The high-range close sets the stage for a steady to higher opening on Thursday. 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 26.55 signals that a short-term low has been posted while opening the door for additional short-term gains. If May renews the decline off February's high, January's low crossing at 24.54 is the next downside target.    

May sugar closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening on Thursday. 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 18.19 would signal that a short-term top has been posted. If May extends this month's rally, November's high crossing at 20.29 is the next upside target.            

May cotton closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends the decline off February's high, the 50% retracement level of the December-February rally crossing at 113.54 is the next downside target. Closes above the 20-day moving average crossing at 119.99 would signal that a short-term low has been posted.