KEY EVENTS TO WATCH FOR:
Thursday, June 30, 2022
8:30 AM ET. May Personal Income & Outlays
Personal Income, M/M% (expected +0.4%; previous +0.4%)
Consumer Spending, M/M% (expected +0.4%; previous +0.9%)
PCE Price Idx, M/M% (previous +0.2%)
PCE Price Idx, Y/Y% (previous +6.3%)
PCE Core Price Idx, M/M% (expected +0.4%; previous +0.3%)
PCE Core Price Idx, Y/Y% (expected +4.8%; previous +4.9%)
8:30 AM ET. Unemployment Insurance Weekly Claims Report - Initial Claims
Jobless Claims (expected 230K; previous 229K)
Jobless Claims, Net Chg (previous -2K)
Continuing Claims (previous 1315000)
Continuing Claims, Net Chg (previous +5K)
8:30 AM ET. U.S. Weekly Export Sales
Corn (Metric Tons) (previous 1030.3K)
Soybeans (Metric Tons) (previous 294.4K)
Wheat (Metric Tons) (previous 477.8K)
9:45 AM ET. June Chicago Business Barometer - ISM-Chicago Business Survey - Chicago PMI
PMI-Adj (expected 58.0; previous 60.3)
10:00 AM ET. 1st Quarter GDP by State
10:30 AM ET. EIA Weekly Natural Gas Storage Report
Working Gas In Storage (Cbf) (expected 2244B; previous 2169B)
Working Gas In Storage, Net Chg (Cbf) (expected +75B; previous +74B)
3:00 AM ET. May Agricultural Prices
Farm Prices, M/M% (previous +5.1%)
4:30 PM ET. Foreign Central Bank Holdings
4:30 PM ET. Federal Discount Window Borrowings
Friday, July 1, 2022
9:45 AM ET. June US Manufacturing PMI
PMI, Mfg (expected 52.0; previous 57.0)
10:00 AM ET. June ISM Report On Business Manufacturing PMI
Manufacturing PMI (expected 54.3; previous 56.1)
Prices Idx (previous 82.2)
Employment Idx (previous 49.6)
Inventories (previous 55.9)
New Orders Idx (previous 55.1)
Production Idx (previous 54.2)
10:00 AM ET. May Construction Spending - Construction Put in Place
New Construction (expected +0.3%; previous +0.2%)
Residential Construction
11:00 AM ET. June Global Manufacturing PMI
PMI, Mfg (previous 52.4)
1600/2000 Jun Domestic Auto Industry Sales
Monday, July 4, 2022
N/A U.S. Independence Day. Financial markets closed
The STOCK INDEXES? http://quotes.ino.com/ex?changes/?c=indexes
The STOCK INDEXES: The September NASDAQ 100 was lower overnight as it extends the decline off Monday's high.The low-range overnight trade sets the stage for a steady to lower 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 10-day moving average crossing at 11,635.98 would signal that a short-term top has been posted. If September renews the rally off June's low, the 50-day moving average crossing at 12,375.93 is the next upside target. First resistance is the 50-day moving average crossing at 12,375.93. Second resistance is June's high crossing at 12,973.75. First support is the 10-day moving average crossing at 11,635.67. Second support is June's low crossing at 11,068.50.
The September S&P 500 was lower overnight as it extends the decline off Tuesday's high. Overnight trading sets the stage for a 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 10-day moving average crossing at 3790.80 would signal that a short-term top has been posted. Closes above Tuesday's high crossing at 3950.00 would open the door for a possible test of the 50-day moving average crossing at 4019.05. First resistance is Tuesday's high crossing at 3950.00. Second resistance is the 50-day moving average crossing at 4019.05. First support is the 10-day moving average crossing at 3790.80. Second support is June's low crossing at 3642.00.
INTEREST RATES http://quotes.ino.com/ex changes/?c=interest"
INTEREST RATES: September T-bonds were steady to higher overnight. 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 to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 137-25 would open the door for a possible test of May's high crossing at 141-21. Closes below the 10-day moving average crossing at 135-16 would temper the near-term friendly outlook. First resistance is the 50-day moving average crossing at 137-25. Second resistance is May's high crossing at 141-21. First support is the 10-day moving average crossing at 135-16. Second support is June's low crossing at 131-01.
September T-notes was higher overnight. Overnight trading sets the stage for a 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 the 50-day moving average crossing at 118.045 would open the door for a larger-degree rally and possible test of May's high crossing at 120.195. Closes below the 10-day moving average crossing at 116.277 would temper the near-term friendly outlook. First resistance is the 50-day moving average crossing at 118.045. Second resistance is May's high crossing at 120.195. First support is the 10-day moving average crossing at 116.277. Second support is June's low crossing at 114.075.
ENERGY MARKETS? http://quotes.ino.com/ex?changes/?c=energy ""
ENERGIES:August crude oil was lower overnight as it consolidates some of the rally off June's low. 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 20-day moving average crossing at $112.97 would signal that a short-term low has been posted. If August resumes the decline off June's high, May's low crossing at $95.47 is the next downside target. First resistance is the 20-day moving average crossing at $112.97. Second resistance is June's high crossing at $120.88. First support is June's low crossing at $101.53. Second support is May's low crossing at $95.47. Third support is April's low crossing at $91.66.
August heating oil was steady to lower overnight as it extends the decline off June's high. 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 August extends the decline off June's high, the 50-day moving average crossing at $3.8352 is the next downside target. Closes above the 20-day moving average crossing at 4.2028 would temper the near-term bearish outlook. First resistance is the 20-day moving average crossing at 4.2028. Second resistance is June's high crossing at $4.4898. First support is the 50-day moving average crossing at $3.8352. Second support is the May's low crossing at $3.3578.
August unleaded gas was lower overnight as it extends the trading range of the past two-weeks. 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 $3.6038 would open the door for a larger-degree decline and possible test of the May 19th low crossing at 3.2904. Closes above the 20-day moving average crossing at 3.8459 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 3.8459. Second resistance is June's high crossing at $4.1237. First support is the 50-day moving average crossing at $3.6038. Second support is the May 19th low crossing at $3.2904.
August Henry natural gas was steady to slightly lower in late-overnight trading and sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are oversold but are turning neutral to bearish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 7.596 would signal that a short-term low has been posted. If August renews the decline off June's high, the 50% retracement level of 2020-2022 rally crossing at 5.947 is the next downside target. First resistance is the 10-day moving average crossing at 6.662 Second resistance is the 20-day moving average crossing at 7.596. First support is the 50% retracement level of the 2020-2022 rally crossing at 5.947. Second support is the March 30th low crossing at 5.385.
CURRENCIEShttp://quotes.ino.com/ex changes/?c=currencies"
CURRENCIES:The September Dollar was higher overnight as it extends this week's rally. Overnight trading sets the stage for a higher opening when the day session begins trading. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. If September resumes this year's rally, the 75% retracement level of the 2001-2008 decline on the monthly continuation chart crossing at $108.717 is the next upside target. Closes below the 50-day moving average crossing at $103.180 would signal that a short-term top has been posted. First resistance is June's high crossing at $105.565. Second resistance is the 75% retracement level of the 2001-2008 decline on the monthly continuation chart crossing at $108.717. First support is the 20-day moving average crossing at $103.894. Second support is the 50-day moving average crossing at $103.180.
The September Euro was steady to lower overnight as it extends this week's decline. The low-range overnight trade sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If September renews the decline off May's high, May's low crossing at $1.04255 is the next downside target. Closes above the 50-day moving average crossing at $1.06579 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at $1.06579. Second resistance is May's high crossing at $1.08530. First support is June's low crossing at $1.04280. Second support is May's low crossing at $1.04255.
The September British Pound was steady to slightly lower overnight and 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. If September extends this week's decline, June's low crossing at 1.1952 is the next downside target. Closes above the 20-day moving average crossing at 1.2320 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 1.2320. Second resistance is the 50-day moving average crossing at 1.2445. First support is June's low crossing at 1.1952. Second support is the 87% retracement level of the 2020-2021 rally on the monthly continuation chart crossing at 1.1914.
The September Swiss Franc was lower overnight as it consolidates some of the rally off June's low. The mid-range overnight trade sets the stage for a steady to lower 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 September extends the rally off June's low, the 38% retracement level of this year's decline crossing at 1.06242 is the next upside target. Closes below the 50-day moving average crossing at 1.03540 would signal that a short-term top has been posted. First resistance is Wednesday's high crossing at 1.05910. Second resistance is the 38% retracement level of this year's decline crossing at 1.06242. First support is the 50-day moving average crossing at 1.03540. Second support is June's low crossing at 1.00235.
The September Canadian Dollar was lower overnight as it consolidates some of the rally off June's low. The low-range overnight trade 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 20-day moving average crossing at $78.02 would signal that a short-term low has been posted. If September renews the decline off June's high, the 50% retracement level of the 2020-2021 rally crossing at $75.79 is the next downside target. First resistance is the 20-day moving average crossing at $78.02. Second resistance is June's high crossing at $79.84. First support is June's low crossing at $76.46. Second support is the 50% retracement level of the 2020-2021 rally crossing at $75.79.
The September Japanese Yen was steady to slightly higher overnight. Overnight trading sets the stage for a steady to slightly higher opening when the day session begins trading. Stochastics and the RSI are oversold and remain neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends the decline off May's high, the August-1998 low on the monthly continuation chart crossing at 0.068730 is the next downside target. Closes above the 20-day moving average crossing at 0.074890 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 0.074890. Second resistance is the 50-day moving average crossing at 0.076842. First support is Wednesday's low crossing at 0.073390. Second support is the September-1990 low on the monthly continuation chart crossing at 0.072160.
PRECIOUS METALS http://quotes.ino.com/ex changes/?c=metals"
PRECIOUS METALS: Augustgold was lower overnight and sets the stage for a lower opening when the day session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If August renews the decline off June's high, May's low crossing at $1792.00 is the next downside target. Closes above the 50-day moving average $1858.50 would signal that a short-term low has been posted. First resistance is the 50-day moving average $1858.50. Second is June's high crossing at $1882.50. First support is June's low crossing at $1806.10. Second support is May's low crossing at $1792.00.
September silver was lower overnight and spiked to a new low for the year. The low-range trade sets the stage for a steady to lower opening when the day session begins trading later this morning. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends this month's decline, the 62% retracement level of the 2020-2021 rally crossing at $18.789 is the next downside target. Closes above the 20-day moving average crossing at $21.564 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at $21.564. Second resistance is the 50-day moving average crossing at 22.123. First support is the overnight low crossing at $20.330. Second support is the 62% retracement level of the 2020-2021 rally crossing at $18.789.
September copper was lower overnight as it extends the decline off June's high. Overnight trading sets the stage for a 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 September extends the decline off June's high, the 50% retracement level of the 2020-2022 rally crossing at 3.5830 is the next downside target. Closes above the 20-day moving average crossing at 4.4224 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at 4.1745. Second resistance is the 20-day moving average crossing at 4.4224. First support is the 50% retracement level of the 2020-2022 rally crossing at 3.5830. Second support is the 62% retracement level of the 2020-2022 rally crossing at 3.2498.
GRAINS http://quotes.ino.com/ex changes/?c=grains
September corn was lower overnight as it extends the decline decline off June's high. Overnight trading sets the stage for a lower opening when the day sessions begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends the decline off June's high, the March 16th low crossing at $6.45 1/4 is the next downside target. Closes above the 20-day moving average crossing at $7.05 3/4 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $6.89 1/4. Second resistance is the 20-day moving average crossing at $7.05 3/4. First support is Monday's low crossing at $6.54. Second support is the March 16th low crossing at $7.05 3/4.
September wheat was lower overnight as it extends this week's trading range. Overnight trading sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are oversold and remain neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends the decline off May's high, the 62% retracement level of the January-May high crossing at $8.22 3/4 is the next downside target. Closes above the 20-day moving average crossing at $10.24 1/4 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $9.70 1/2. Second resistance is the 20-day moving average crossing at $10.24 1/4. First support is the 50% retracement level of the January-May rally crossing at $9.11 3/4. Second support is the 62% retracement level of the January-May high crossing at $8.22 3/4.
September Kansas City wheat was lower overnight as it consolidates some of the decline off May's high. Overnight trading sets the stage for a steady to lower opening when the day session begins trading later this morning. Stochastics and the RSI are oversold but remain neutral signaling that sideways trading is possible near-term. If September extends the decline off May's high, the 50% retracement level of this year's rally crossing at $9.37 3/4 the next downside target. Closes above the 20-day moving average crossing at $10.94 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $10.32. Second resistance is the 20-day moving average crossing at $10.94. First support is Monday's low crossing at $9.77 1/2. Second support is the 50% retracement level of the January-May rally crossing at $9.37 3/4.
September Minneapolis wheat was lower overnight as it extends the decline off May's high. 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 September extends the aforementioned decline, the 50% retracement level of the January-May rally crossing at $10.10 3/4 is the next downside target. Closes above the 20-day moving average crossing at $11.52 1/4 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $10.88 1/2. Second resistance is the 20-day moving average crossing at $11.52 1/4. First support is the 50% retracement level of the January-May rally crossing at $10.10 3/4. Second support is the 62% retracement level of the January-May high crossing at $9.17 1/4.
SOYBEAN COMPLEX? http://quotes.ino.com/ex?changes/?c=grains "
September soybeans were lower overnight as they consolidate some of the rally off June's low. 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. If September extends this week's rally, the 20-day moving average crossing at $15.31 3/4 is the next upside target. If September renews this month's decline, the 25% retracement level of the 2020-2022 rally crossing at $14.16 1/4 is the next downside target. First resistance is the 10-day moving average crossing at $14.93 1/4. Second resistance is the 20-day moving average crossing at $15.31 3/4. First support is last-Friday's low crossing at $14.22 1/4. Second support is the 25% retracement level of the 2020-2022 rally crossing at $14.16 1/4.
September soybean meal was lower overnight and sets the stage for a steady to lower 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 September extends the rally off June's low, May's high crossing at $424.60 is the next upside target. Closes below the 20-day moving average crossing at $402.50 would signal that a short-term top has been posted. First resistance is the overnight high crossing at $415.00. Second resistance is May's high crossing at $424.60. First support is the 20-day moving average crossing at $402.50. Second support is June's low crossing at $387.40.
September soybean oil was steady to slightly lower overnight. The mid-range overnight trade sets the stage for a steady to slightly lower opening when the day session begins trading. Stochastics and the RSI have turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 73.09 would signal that a short-term low has been posted. If September renews this month's decline, the 38% retracement level of the rally crossing at 60.69 is the next downside target. First resistance is the 10-day moving average crossing at 68.55. Second resistance is the 20-day moving average crossing at 73.09. First support is last-Friday's low crossing at 63.87. Second support is the 38% retracement level of the 2020-2022 rally crossing at 60.69.
LIVESTOCKhttp://quotes.ino.com/exchanges/?c=livestock
August hogs closed down $1.98 at $104.80.
August hogs closed lower on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday's session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If August renews this month's decline, May's low crossing at $98.65 is the next downside target. Closes above last-Tuesday's high crossing at $110.23 would open the door for additional gains near-term. First resistance is June's high crossing at $111.05. Second resistance is the April 28th high crossing at $114.30. First support is June's low crossing at $101.30. Second support is May's low crossing at $98.65.
August cattle closed down $0.08 at $133.30
August cattle closed lower on Monday. The mid-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near-term. Closes below the June 13th low crossing at $132.45 would open the door for a possible test of May's low crossing at $129.97. Closes above the 50-day moving average crossing at $135.14 would temper the near-term bearish outlook. First resistance is the June 9th high crossing at $137.95. Second resistance is the bottom of the April 25th gap crossing at $138.75. Third resistance is the top of the April 25th gap crossing at $140.27. First support is the June 13th low crossing at $132.45. Second support is May's low crossing at $129.97.
August Feeder cattle closed up $1.70 at $174.20.
August Feeder cattle closed higher on Monday as it extends last-week's trading range. The mid-range close sets the stage for a steady to higher opening when Tuesday's session begins trading. Stochastics and the RSI are neutral signaling that sideways trading is possible near-term. Closes below the 50-day moving average crossing at $171.44 would signal that a short-term top has been posted. If August renews the rally off May's low, May's high crossing at $177.50 is the next upside target. First resistance is May's high crossing at $177.50. Second resistance is the April 22nd high crossing at $178.23. First support is the 50-day moving average crossing at $171.44. Second support is the May 31st low crossing at $164.75. Third support is May's low crossing at $162.80.
FOOD & FIBERhttp://quotes.ino.com/ex changes/?c=food
September coffee closed lower on Monday. 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. If September extends today's decline, June's low crossing at 21.90 is the next downside target. Closes above last-Wednesday's high crossing at 23.71 would temper the bearish outlook. First resistance is last-Wednesday's high crossing at $23.71. Second resistance is June's high crossing at 24.18. First support is June's low crossing at 21.90. Second support is the May 24th low crossing at 21.10.
September cocoa close lower on Monday. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are turning neutral to bearish signaling sideways to lower prices are possible near-term. If September renews the decline off April's high, the November-2020 low crossing at 22.75 is the next downside target. If September resumes the rally off last-week's low, the 50-day moving average crossing at 25.01 is the next upside target.
October sugar closed lower on Monday as it extends the decline off May's high. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are oversold and remain neutral to bearish signaling that sideways to lower prices are possible near-term. If October extends the decline off May's high, the February 28th low crossing at 17.57 is the next downside target. Closes above the 20-day moving average crossing at 19.03 would confirm that a short-term low has been posted.
October cotton closed lower for the fifth-day in a row on Monday as it extends the decline off May's high. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If October extends the decline off May's high, the 50% retracement level of the 2020-2022 rally crossing at 97.77 is the next downside target. Closes above last-Thursday's gap crossing at 114.66 would signal that a short-term low has been posted.
Thanks tallpine!
EIA for ng was BEARISH!
USDA report coming soon, weather is BEARISH!