KEY EVENTS TO WATCH FOR:
Monday, April 4, 2022
10:00 AM ET. March Employment Trends Index
ETI (previous 119.18)
ETI, Y/Y%
10:00 AM ET. February Manufacturers' Shipments, Inventories & Orders (M3)
Total Orders, M/M% (previous +1.4%)
Orders, Ex-Defense, M/M% (previous +1.4%)
Orders, Ex-Transport, M/M% (previous +1.0%)
Durable Goods, M/M%
Durable Goods, M/M%
The STOCK INDEXES? http://quotes.ino.com/ex?changes/?c=indexes
The Dow closed higher on Friday's as it consolidated some of the decline off Tuesday's high.The high-range close sets the stage for a steady to higher opening when Monday'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 20-day moving average crossing at 34,144.28 would signal that a short-term top has been posted. If the Dow extends the rally off February's low, the 75% retracement level of the January-February decline crossing at 35,783.87 is the next upside target. First resistance is Tuesday's high crossing at 35,372.26. Second resistance is the 75% retracement level of the January-February decline crossing at 35,783.87. First support is the 50-day moving average crossing at 34,338.71. Second support is the 20-day moving average crossing at 34,144.28.
The June NASDAQ 100 closed lower for the third day in a row on Friday as it consolidated some of the rally off March's low. 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off March's low, the 75% retracement level of the November-March decline crossing at 15,763.56 is the next upside target. Closes below the 20-day moving average crossing at 14,207.34 would signal that a short-term top has been posted. First resistance is the 62% retracement level of the November-March decline crossing at 15,262.64. Second resistance is the 75% retracement level of the November-March decline crossing at 15,763.56. First support is the 10-day moving average crossing at 14,799.38. Second support is the 50-day moving average crossing at 14,296.00.
The June S&P 500 closed slightly higher on Friday as it consolidated some of Thursday's decline. The high-range close sets the stage for a steady to higher opening when Monday'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 June extends the rally off February's low, the 87% retracement level of the January-February decline crossing at 4709.80 is the next upside target. Closes below the 20-day moving average crossing at 4399.48 would signal that a short-term top has been posted. First resistance is the 75% retracement level of the December-February decline crossing at 4624.48. Second resistance is the 87% retracement level of the January-February decline crossing at 4709.80. First support is the 10-day moving average crossing at 4530.93. Second support is the 20-day moving average crossing at 4399.48.
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June T-bonds closed down 10/32's at 149-24.
June T-bonds closed slightly lower on Friday as it consolidated some of the rally off Monday's low. The high-range close sets the stage for a steady to higher 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 20-day moving average crossing at 151-19 would signal that a short-term low has been posted. If June renews the decline off March's high, the 87% retracement level of the 2020-2021-decline on the monthly continuation chart crossing at 143-17 is the next downside target. First resistance is the 20-day moving average crossing at 151-19. Second resistance is the 50-day moving average crossing at 154-02. First support is Monday's low crossing at 146-10. Second support is the 87% retracement level of the 2020-2021 decline on the monthly continuation chart crossing at 143-17.
June T-notes closed down 215 pts. at 122.065.
June T-notes closed lower on Friday as it consolidates some of the rally off Monday's low. 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 sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 124.028 would signal that a short-term low has been posted. If June resumes this month's decline, the 87% retracement level of the 2018-2020-rally on the monthly continuation chart crossing at 120.147 is the next downside target. First resistance is the 20-day moving average crossing at 124.028. Second resistance is the 50-day moving average crossing at 125.281. First support is Monday's low crossing at 120.305. Second support is the 87% retracement level of the 2018-2020-rally on the monthly continuation chart crossing at 120.147.
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May crude oil closed lower on Friday as it extended Thursday's decline. The mid-range close sets the stage for a steady to lower opening when Monday's night session begins. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are still possible. If May extends the aforementioned decline, the 50-day moving average crossing at $96.40 is the next downside target. Closes above Wednesday's high crossing at $108.75 would signal that a short-term low has been posted. If May renews the rally off the March 15th low, March's high crossing at $126.41 is the next upside target. First resistance is last-Thursday's high crossing at $116.64. Second resistance is March's high crossing at $126.41. First support is today's low crossing at $97.78. Second support is the 50-day moving average crossing at $96.40.
May heating oil posted an inside day with a higher close on Friday. The high-range close sets the stage for a steady to higher opening when Monday's night trading session begins. 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 the March 15th low, the 75% retracement level of March's decline crossing at $3.9534 is the next upside target. If May extends the decline off last-Thursday's high, the 50-day moving average crossing at $3.0305 is the next downside target. First resistance is last-Thursday's high crossing at 3.8570. Second resistance is the 75% retracement level of March's decline crossing at $3.9534. First support is Tuesday's low crossing at $3.2114. Second support is the 50-day moving average crossing at $3.0305.
May unleaded gas closed slightly higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral signaling that sideways trading is possible near-term. If May renews the rally off the March 15th low, March's high crossing at $3.8075 is the next upside target. If May extends the decline off last-Thursday's high, the 50-day moving average crossing at $2.9853 is the next downside target. First resistance is the March 4th high crossing at $3.4817. Second resistance is March's high crossing at 3.8075. First support is Tuesday's low crossing at $3.0309. Second support is the 50-day moving average crossing at $2.9853.
May Henry natural gas closed higher on Friday as it extended the rally off December's low. The high-range close sets the stage for a steady to higher opening when Monday'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 February-2014 high on the monthly continuation chart crossing at 6.493 is the next upside target. Closes below the 20-day moving average crossing at 5.089 are needed to confirm that a short-term top has been posted while opening the door for additional weakness near-term. First resistance is Thursday's high crossing at 5.832. Second resistance is the February-2014 high on the monthly continuation chart crossing at 6.493. First support is the 10-day moving average crossing at 5.433. Second support is the 20-day moving average crossing at 5.089.
CURRENCIES? http://quotes.ino.com/ex?changes/?c=currencies ""
The June Dollar closed higher on Friday as it extended the rebound off trading range support crossing at $97.72. The high-range close sets the stage for a steady to higher opening when Monday's nights session begins trading. Stochastics and the RSI are poised to turn neutral to bullish with additional strength on Monday that would signal sideways to higher prices are possible near-term. If June renews 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. Closes below the March 17th low crossing at $97.72 would mark a downside breakout of this month's trading range while opening the door for a possible test of the 50-day moving average crossing at $97.23. First resistance is March'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 March 17th low crossing at $97.72. Second support is the 50-day moving average crossing at $97.23.
The June Euro closed lower on Friday following Thursday's key reversal down as it consolidated some of the rally off March's low. 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. Closes below Monday's low crossing at $109.77 would signal that a short-term top has been posted. Closes above the 50-day moving average crossing at 112.13 would open the door for a larger-degree rebound into early-April. First resistance is the 50-day moving average crossing at 112.13. Second resistance is February's high crossing at $114.87. First support is March'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 lower on Friday. 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 signaling that sideways trading is possible. If June renews the decline off last-Wednesday's high, March's low crossing at 1.2997 is the next downside target. First resistance is the 38% retracement level of the January-March decline crossing at 1.3277. Second resistance is the 50% retracement level of the January-March decline crossing at 1.3365. First support is Tuesday's low crossing at 1.3047. Second support is March's low crossing at 1.2997.
The June Swiss Franc closed lower on Friday as it consolidated some of the rally off March's low. 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off March's low, February's high crossing at 1.0972 is the next upside target. Closes below Monday's low crossing at 1.0694 would signal that a short-term top has been posted. First resistance is Thursday's high crossing at 1.0908. Second resistance is February's high crossing at 1.0972. First support is Monday's low crossing at 1.0694. Second support is March's low crossing at 1.0609.
The June Canadian Dollar closed lower for the second day in a row on Friday as it consolidates some of the rally off March's low. 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the aforementioned rally, last-October's high crossing at 81.14 is the next upside target. Closes below the 20-day moving average crossing at 79.11 would signal that a short-term top has been posted. First resistance is the November 10th high crossing at 80.55. Second resistance is last-October's high crossing at 81.14. First support is the 10-day moving average crossing at 79.83. Second support is the 20-day moving average crossing at 79.11.
The June Japanese Yen closed lower on Friday as it consolidated some of the rally off Monday's low. 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 neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 0.083847 would signal that a short-term low has been posted. If March renews the decline off January's high, the June-2015 low on the monthly continuation chart crossing at 0.079450 is the next downside target. First resistance is the 10-day moving average crossing at 0.082259. Second resistance is the 20-day moving average crossing at 0.083847. First support is Monday's low crossing at 0.080085. Second support is the the June-2015 low on the monthly continuation chart crossing at 0.079450.
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April gold closed sharply lower on Friday while extending the trading range of the past three-weeks. The mid-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. If April renews the rally off the 50-day moving average, the February 24th high crossing at $1976.50 is the next upside target. Closes below the 50-day moving average crossing at $1897.70 would open the door for a larger-degree decline near-term. First resistance is the February 24th high crossing at $1976.50. Second resistance is March's high crossing at $2078.80. First support is the 50-day moving average crossing at $1897.70. Second support is the February 15th low crossing at $1845.40.
May silver 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 20-day moving average crossing at 25.428 would signal that a short-term low has been posted. Closes below the 50-day moving average crossing at 24.435 would open the door for additional weakness into the end of the month. First resistance is last-Thursday's high crossing at 26.160. Second resistance is March's high crossing at 27.495. First support is the 50-day moving average crossing at 24.435. Second support is the February 15th low crossing at 23.125.
May copper 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 turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below Monday's low crossing at 4.6420 would signal that a short-term top has been posted. If May resumes the rally off March's low, the 75% retracement level of March's decline crossing at 4.8967 is the next upside target. First resistance is the 62% retracement level of March's decline crossing at 4.8214. Second resistance is the 75% retracement level of March's decline crossing at 4.8967. First support is Monday's low crossing at 4.6420. Second support is the 50-day moving average crossing at 4.5850.
GRAINS? http://quotes.ino.com/ex?changes/?c=grains "
May Corn closed down $0.13 3/4-cents at $7.35.
May corn closed lower on Friday while extending March's trading range. 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 neutral signaling that sideways to lower prices are possible near-term. If May extends the rally off Tuesday's low, March's high crossing at $7.82 3/4 is the next upside target. Closes below Tuesday's low crossing at $7.13 1/2 would mark a downside breakout of March's trading range while opening the door for additional weakness near-term. First resistance is March's high crossing at $7.82 3/4. Second resistance is psychological resistance crossing at $8.00. First support is the 25% retracement level of the September-March rally crossing at $7.15. Second support is the 50-day moving average crossing at $6.91 3/4.
May wheat closed down $0.21 1/2-cents at $9.84 1/2.
May wheat closed lower on Friday as it extends the decline off March's high. 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends the aforementioned decline, the 50-day moving average crossing at $9.49 is the next downside target. Closes above the 20-day moving average crossing at $11.03 3/4 would signal that a short-term low has been posted. First resistance is last-Tuesday's high crossing at $11.69 1/4. Second resistance is March's high crossing at $13.63 1/2. First support is the 62% retracement level of the January-March rally crossing at $9.77 3/4. Second support is the 50-day moving average crossing at $9.49.
May Kansas City Wheat closed down $0.16 3/4-cents at $10.12 1/2.
May Kansas City wheat closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends the aforementioned decline, the 50-day moving average crossing at $9.59 is the next downside target. Closes above the 20-day moving average crossing at $10.97 would signal that a short-term low has been posted. First resistance is the March 15th high crossing at $11.64 1/2. Second resistance is March's high crossing at $12.99 1/2. First support is the 50% retracement level of the January-March rallycrossing at $10.23. Second support is the 62% retracement level of the January-March rally crossing at $9.57 3/4.
May Minneapolis wheat closed down $0.14 1/4-cents at $10.65 1/4.
May Minneapolis wheat posted an inside day with a lower close on Friday while extending 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 bullish signaling that sideways to higher prices are is possible near-term. If May renews the rally off Tuesday's low, March's high crossing at $12.11 3/4 is the next upside target. Closes below the Tuesday's low crossing at $10.19 1/2 would mark a resumption of the decline off March's high. First resistance is the March 22nd high crossing at $11.23. Second resistance is March's high crossing at $12.11 3/4. First support is Tuesday's low crossing at $10.19 1/2. Second support is the 50-day moving average crossing at $10.12.
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May soybeans closed down $0.35 1/2-cents at $15.82 3/4.
May soybeans closed sharply lower for the second day in a row on Friday following a bearish grain stocks and acreage report. 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends the decline off February's high, the 38% retracement level of the November-February rally crossing at $15.46 3/4. Closes above the 20-day moving average crossing at $16.69 1/4 would signal that a short-term low has been posted. First resistance March's high crossing at $17.36 1/2. Second resistance is February's high crossing at $17.59 1/4. First support is today's low crossing at $15.82 3/4. Second support is the 38% retracement level of the November-February rally crossing at $15.46 3/4.
May soybean meal closed down $17.50 at $450.00.
May soybean meal closed sharply lower on Friday and below the 50-day moving average crossing at $452.80. 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 neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends the decline off last-Friday's high, the February 16th low crossing at $435.80 is the next downside target. Closes above the 20-day moving average crossing at $475.80 would signal that a short-term low has been posted. First resistance is March's high crossing at $494.70. Second resistance is psychological resistance crossing at $500.00. First support is today's low crossing at $448.10. Second support is the February 16th low crossing at $435.80.
May soybean oil closed up 126 pts. at 71.20.
May soybean oil closed higher on Friday as it consolidated some of the decline off March's high. The high-range close sets the stage for a steady to higher opening when Monday'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 May extends the decline off March's high, the 38% retracement level of the December-March rally crossing at 68.10 is the next downside target. Closes above the 20-day moving average crossing at 73.68 would signal that a short-term low has been posted. First resistance is the March 24th high crossing at 76.63. Second resistance is March's high crossing at 78.58. First support is today's low crossing at 68.84. Second support is the 38% retracement level of the December-March rally crossing at 68.10.
LIVESTOCKhttp://quotes.ino.com/exchanges/?c=livestock
April hogs closed down $0.43 at $101.32.
April hogs closed lower for the fourth-day in a row on Friday as it extended the decline off Monday's high. The low-range close sets the stage for a lower opening when Monday's session begins trading. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near-term. Today's close below the 50-day moving average crossing at $102.17 confirms that a short-term top has been posted. If April extends this week's decline, the March 18th low crossing at $99.22 is the next downside target. Closes above the 10-day moving average crossing at $103.49 would temper the near-term bearish outlook. First resistance is Monday's high crossing at $108.45. Second resistance is February's high crossing at $112.85. First support is the March 18th low crossing at $99.22. Second support is the March 7th low crossing at $98.47.
April cattle closed down $1.15 at $138.22
April cattle closed lower on Friday. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near-term. Closes below the March 23rd low crossing at $138.10 would signal that a short-term top has been posted. Closes above the March 16th high crossing at $141.48 would confirm that a short-term low has been posted. First resistance is the March 16th high crossing at $141.48. Second resistance is the 50-day moving average crossing at $142.06. First support is the March 23rd low crossing at $138.10. Second support is March's low crossing at $133.50.
April Feeder cattle closed up $0.48 at $161.88.
April feeder cattle closed higher on Friday and the mid-range close sets the stage for a steady to higher opening when Monday's 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-Wednesday's low crossing at $158.85 would signal that a short-term top has been posted. Closes above the March 16th high crossing at $164.78 would confirm that a short-term low has been posted. First resistance is the March 16th high crossing at $164.78. Second resistance is the 50-day moving average crossing at $165.17. First support is last-Wednesday's low crossing at $158.85. Second support is March's low crossing at $154.27.
FOOD & FIBERhttp://quotes.ino.com/ex changes/?c=food
May coffee closed higher on Friday as it extended the rally off March's low. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. If May extends the rally off March's low, the 50-day moving average crossing at 23.36 is the next upside target. If May renew the decline off February's high, the 38% retracement level of the 2020-2022-rally crossing at 20.24 is the next downside target.
May cocoa closed lower on Friday as it consolidated some of the rally off March's low. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are overbought,and are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below last-Friday's low crossing at 25.36 would signal that a short-term top has been posted. If May extends the rally off March's low, March's high crossing at 27.10 is the next upside target.
May sugar closed slightly lower on Friday. The mid-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are neutral signaling that sideways trading is possible near-term. Closes below Tuesday's low crossing at 18.84 would open the door for a possible test of the 50-day moving average crossing at 18.47. If May renews the rally off February's low, March's high crossing at 19.89 is the next upside target.
May cotton closed lower on Friday as it extended the decline off Monday's high. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are overbought but are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 126.95 would confirm that a top has been posted. If May extends the rally off March's low, the 62% retracement level of the 2011-2020-decline on the monthly continuation chart crossing at 154.43 is the next upside target.
Thanks tallpine!