KEY EVENTS TO WATCH FOR:
Monday, September 5, 2022
N/A U.S. Labor Day. Financial markets closed
Tuesday, September 6, 2022
9:45 AM ET. August US Services PMI
PMI, Services (previous 47.3)
10:00 AM ET. August ISM Report On Business Services PMI
Services PMI (previous 56.7)
Business Activity Idx (previous 59.9)
Prices Idx (previous 72.3)
Employment Idx (previous 49.1)
New Orders Idx (previous 59.9)
10:00 AM ET. August Employment Trends Index
ETI (previous 117.63)
ETI, Y/Y%
11:00 AM ET. August Global Services PMI
PMI, Services (previous 51.1)
Wednesday, September 7, 2022
7:00 AM ET. MBA Weekly Mortgage Applications Survey
Composite Idx (previous 260.1)
Composite Idx, W/W% (previous -3.7%)
Purchase Idx-SA (previous 199.1)
Purchase Idx-SA, W/W% (previous -1.8%)
Refinance Idx (previous 562.5)
Refinance Idx, W/W% (previous -7.8%)
8:30 AM ET. July U.S. International Trade in Goods & Services
Trade Balance (USD) (previous -79.61B)
Exports (USD) (previous 260.80B)
Exports, M/M% (previous +1.7%)
Imports (USD) (previous 340.41B)
Imports, M/M% (previous -0.3%)
8:55 AM ET. Johnson Redbook Retail Sales Index
Ret Sales Mo-to-Date, M/M%
Ret Sales Mo-to-Date, Y/Y% (previous +12.7%)
Latest Wk, Y/Y% (previous +14.2%)
10:00 AM ET. 2nd Quarter Quarterly Financial Report – Industry
10:00 AM ET. 2nd Quarter Quarterly Financial Report - Retail Trade
2:00 PM ET. U.S. Federal Reserve Beige Book
4:30 PM ET. API Weekly Statistical Bulletin
Crude Stocks, Net Chg (Bbls) (previous +0.6M)
Gasoline Stocks, Net Chg (Bbls) (previous -3.4M)
Distillate Stocks, Net Chg (Bbls) (previous -1.7M)
Thursday, September 8, 2022
8:30 AM ET. Unemployment Insurance Weekly Claims Report - Initial Claims
Jobless Claims (previous 232K)
Jobless Claims, Net Chg (previous -5K)
Continuing Claims (previous 1438000)
Continuing Claims, Net Chg (previous +26K)
10:00 AM ET. 2nd Quarter Quarterly Services
10:30 AM ET. EIA Weekly Natural Gas Storage Report
Working Gas In Storage (Cbf) (previous 2640B)
Working Gas In Storage, Net Chg (Cbf) (previous +61B)
11:00 AM ET. EIA Weekly Petroleum Status Report
Crude Oil Stocks (Bbl) (previous 418.346M)
Crude Oil Stocks, Net Chg (Bbl) (previous -3.326M)
Gasoline Stocks (Bbl) (previous 214.475M)
Gasoline Stocks, Net Chg (Bbl) (previous -1.172M)
Distillate Stocks (Bbl) (previous 111.706M)
Distillate Stocks, Net Chg (Bbl) (previous +0.112M)
Refinery Usage (previous 92.7%)
Total Prod Supplied (Bbl/day) (previous 20.073M)
Total Prod Supplied, Net Chg (Bbl/day) (previous +0.734M)
3:00 PM ET. July Consumer Credit
Consumer Credit Net Chg (USD) (previous +40.1B)
4:30 PM ET. Foreign Central Bank Holdings
4:30 PM ET. Federal Discount Window Borrowings
Friday, September 9, 2022
8:30 PM ET. U.S. Weekly Export Sales
Corn (Metric Tons)
Soybeans (Metric Tons)
Wheat (Metric Tons)
10:00 PM ET. August Online Help Wanted Index
10:00 PM ET. July Monthly Wholesale Trade
Inventories, M/M% (previous +1.8%)
The STOCK INDEXES? http://quotes.ino.com/ex?changes/?c=indexes
The Dow gap closed lower on Friday as it extends the decline off August's high. 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If the Dow extends the decline off August's high, the 75% retracement level of the June-August rally crossing at 30,813.63 is the next downside target. Closes above the 20-day moving average crossing at 32,938.24 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at 32,173.92. Second resistance is the 20-day moving average crossing at 32,938.24. First support is the 62% retracement level of the June-August rally crossing at 31,427.93. Second support is the 75% retracement level of the June-August rally crossing at 30,813.63
The September NASDAQ 100 closed lower on Friday as it extends the decline off August's high. 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 oversold but remain neutral to bearish signaling sideways to lower prices are possible. If September extends the decline off August's high, the July 13th low crossing at 11,479.25 is the next downside target. Closes above the 20-day moving average crossing at 13,009.00 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at 12,565.92. Second resistance is the 20-day moving average crossing at 13,009.00. First support is is the July 13th low crossing at 11,479.25. Second support is the June's low crossing at 11,068.50.
The September S&P 500 closed lower on Friday as it extended the decline off August's high. 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends the aforementioned decline, July's low crossing at 3723.75 is the next downside target. Closes above the 20-day moving average crossing at 4145.85 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at 4022.50. Second resistance is the 20-day moving average crossing at 4145.85. First support is Thursday's low crossing at 3903.50. Second support is the July's low crossing at 3723.75.
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September T-bonds closed up 1-02-pts. at 135-06.
September T-bonds posted an inside day with a higher close on Friday as it consolidates some of the decline off August'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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends the decline off August's high, June's low crossing at 131-01 is the next downside target. Closes above the 50-day moving average crossing at 139-18 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at 136-20. Second resistance is the 50-day moving average crossing at 139-18. First support is Thursday's low crossing at 133-22. Second support is June's low crossing at 131-01.
September T-notes closed up 225-pts. at 116.220.
September T-notes closed higher on Friday as it consolidates some of the decline off August'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 sideways to lower prices are possible near-term. If September extends the decline off August's high, June's low crossing at 114.075 is the next downside target. Closes above the 20-day moving average crossing at 118.060 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 118.060. Second resistance is the August 2nd high crossing at 122.020. First support is Thursday's low crossing at 115.230. Second support is the June 14th low crossing at 114.075.
ENERGY MARKETS? http://quotes.ino.com/ex?changes/?c=energy ""
October crude oil posted an inside day with a higher close on Friday as it consolidated some of the decline off August's low. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins. Stochastics and the RSI are becoming oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If October extends this week's decline, the 38% retracement level of the 2021-2022 rally crossing at $84.81 is the next downside target. Closes above the 50-day moving average crossing at $93.53 would signal that a short-term top has been posted. First resistance is Tuesday's high crossing at $97.66. Second resistance is the July 29th high crossing at $99.75. First support is the 38% retracement level of the 2021-2022 rallycrossing at $84.81. Second support is the February 18th lowcrossing at $79.83.
October heating oil closed higher on Friday as it consolidates some of the decline off August's high. The mid-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. If October extends the decline off August's high, the August 15th low crossing at 3.3491 is the next downside target. Closes above the 10-day moving average crossing at 3.3386 would signal that a short-term low has likely been posted. First resistance is August's high crossing at 4.0392. Second resistance is June's high crossing at $4.2595. First support is the August 15th low crossing at 3.3491. Second support is the 38% retracement level of the 2021-2022 rally crossing at 3.1221.
October unleaded gas closed higher on Friday as it consolidated some of the decline off June'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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If October extends the decline off June's high, the 50% retracement level of the 2021-2022 rally crossing at 2.4586 is the next downside target. Closes above the 50-day moving average crossing at $2.8079 would confirm that a short-term low has been posted while opening the door for additional gains near-term. First resistance is the 50-day moving average crossing at $2.8079. Second resistance is the July 29th high crossing at $9.9628. First support is Thursday's low crossing at 2.3501. Second support is the 50% retracement level of the 2021-2022 rally crossing at 2.446.
October Henry natural gas closed lower on Friday and below the 20-day moving average crossing at 8.962 signaling that a short-term top has been posted. 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 October extends the decline off August's high, the 50-day moving average crossing at 7.854 is the next downside target. If October renews the rally off the August 8th low, weekly resistance crossing at 10.299 is the next upside target. First resistance is August's high crossing at 9.987. Second resistance is weekly resistance crossing at 10.299. First support is today's low crossing at 8.619. Second support is the 50-day moving average crossing at 7.854.
CURRENCIES? http://quotes.ino.com/ex?changes/?c=currencies ""
The September Dollar posted an inside day with a slightly lower close on Friday. The high-range close sets the stage for a steady to slightly lower opening when Tuesday's nights session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling sideways to higher prices are possible near-term. If September extends the rally off August's low, monthly resistance crossing at $114.782 is the next upside target. Closes below the 50-day moving average crossing at $106.828 would signal that a short-term top has been posted. First resistance is Thursday's high crossing at $109.980. Second resistance is monthly resistancecrossing at $114.782. First support is the 20-day moving average crossing at $107.588. Second support is the 50-day moving average crossing at $106.828.
The September Euro posted an inside day with a slightly higher close on Friday as it extended the trading range of the past two-weeks. The low-range close sets the stage for a steady to slightly higher opening when Tuesday'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 September extends this year's decline, the 87% retracement level of the 2000-2008 rally on the monthly continuation chart crossing at $0.93211 is the next downside target. Closes above the 50-day moving average crossing at $1.02072 is needed to confirm that a low has been posted. First resistance is the 50-day moving average crossing at $1.02072. Second resistance is August's high crossing at 1.03965. First support is last-Tuesday's low crossing at $0.99160. Second support is the 87% retracement level of the 2000-2008 rally on the monthly continuation chart crossing at $0.93211.
The September British Pound closed lower on Friday as it extends the decline off August's high. 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 oversold but remains neutral to bearish signaling sideways to lower prices are possible near-term. If September extends this year's decline, the March-2020 low on the monthly continuation chart crossing at 1.1438 is the next downside target. Closes above the 20-day moving average crossing at 1.1885 would signal that a short-term low has been posted. First resistance the 20-day moving average crossing at 1.1885. Second resistance is the 50-day moving average crossing at 1.1997. First support is today's low crossing at 1.1501. Second support is the March-2020 low on the monthly continuation chart crossing at 1.1438.
The September Swiss Franc posted an inside day with a higher close on Friday as it consolidated some of the decline off August's high. 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends the aforementioned decline, June's low crossing at 1.00235 is the next downside target. Closes above the 20-day moving average crossing at 1.04357 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 1.04357. Second resistance is August's high crossing at 1.07010. First support is Thursday's low crossing at 1.01510. Second support is June's low crossing at 1.00235.
The September Canadian Dollar closed higher on Friday as it consolidated some of the decline off August's high. The low-range close sets the stage for a steady to slightly higher opening when Tuesday'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 September extends the decline off August's high, July's low crossing at 75.61 is the next downside target. Closes above the 20-day moving average crossing at 77.16 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 77.16. Second resistance is the August 25th high crossing at 77.53. First support is Thursday's low crossing at 75.68. Second support is July's low crossing at 75.61.
The September Japanese Yen closed steady to 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends this week's decline, is long-term support crossing at 0.070000 is the next downside target. Closes above the 50-day moving average crossing at 0.073731 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at 0.073731. Second resistance is the August 11th high crossing at 0.076115. First support is today's low crossing at 0.071095. Second support is long-term support crossing at 0.070000.
PRECIOUS METALS? http://quotes.ino.com/ex?changes/?c=metals ""
December gold closed higher on Friday as it consolidated some of this week's decline. The mid-range close sets the stage for a steady to higher opening when Friday'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 December extends this month's decline, the July 21th low crossing at $1696.10 is the next downside target. Closes above the 20-day moving average crossing at 1769.30 would temper the near-term bearish outlook. First resistance is the 20-day moving average crossing at 1769.30. Second resistance August's high crossing at $1824.60. First support is Thursday low crossing at $1699.10. Second support is July's low crossing at $1696.10.
September silver closed higher on Friday as it consolidated some of the decline off August's high. 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends this year's decline, the 75% retracement level of the 2020-2021 rally crossing at 16.315 is the next downside target. Closes above the 50-day moving average crossing at 19.405 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at 19.405. Second resistance is August's high crossing at 20.870. First support is Thursday's low crossing at 17.320. Second support is the 75% retracement level of the 2020-2021 rally crossing at 16.315.
September copper closed slightly higher on Friday as it consolidated some of the decline off last-Friday's high.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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends this week's decline, July's low crossing at 3.1315 is the next downside target. If September renews the rally off July's low, the 38% retracement level of the March-July decline crossing at 3.8395 is the next upside target. First resistance is the 38% retracement level of the March-July decline crossing at 3.8395. Second resistance is the 50% retracement level of the March-July decline crossing at 4.0590. First support is today's low crossing at 3.3890. Second support is July's low crossing at 3.1315.
GRAINS? http://quotes.ino.com/ex?changes/?c=grains "
December Corn closed up $0.07 1/2-cents at $6.71 1/4.
December corn 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 have turned neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at $6.40 1/4 would confirm that a short-term top has been posted. If December renews the rally off July's low, the 62% retracement level of the May-July decline crossing at $6.88 is the next upside target. First resistance is the 62% retracement level of the May-July decline crossing at $6.88. Second resistance is the 75% retracement level of the May-July decline crossing at $7.15. First support the 10-day moving average crossing at $6.60 3/4. Second support is the 20-day moving average crossing at $6.40 1/4.
December wheat closed up $0.16 3/4-cents at $8.11.
December wheat posted an inside day with a higher close 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 neutral to bearish signaling that sideways to lower prices are possible near-term. If December renews the decline off May's high, the 75% retracement level of the January-May rally crossing at $7.23 is the next downside target. Closes above the July 29th high crossing at $8.63 3/4 would signal that a short-term low has been posted. First resistance is the July 29th high crossing at $8.63 3/4. Second resistance is the July 11th high crossing at $9.54. First support is August's low crossing at $7.43 1/4. Second support is the 75% retracement level of the January-May's rally crossing at $7.23.
December Kansas City Wheat closed up $0.09 3/4-cents at $8.77 3/4.
December Kansas City wheat closed lower 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. If December renews the decline off May's high, February's low crossing at $7.64 1/2 is the next downside target. Closes above the July 29th high crossing at $9.21 1/2 would signal that a short-term low has been posted. First resistance is the July 29th high crossing at $9.21 1/2. Second resistance is the July 11th high crossing at $10.10. First support is August's low crossing at $8.08 1/2. Second support is February's low crossing at $7.64 1/2.
December Minneapolis wheat closed up $0.03 3/4-cents at $8.90.
December Minneapolis wheat closed higher on Friday as it extends the July-September trading range. 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 December resumes the decline off May's high, the 75% retracement level of the January-May rally crossing at $8.29 1/2 is the next downside target. Closes above the July 20th high crossing at $9.67 would signal that a short-term low has been posted. First resistance is the July 20th high crossing at $9.67. Second resistance is the July 11th high crossing at $10.56 1/4. First support is August's low crossing at $8.61 3/4. Second support is the 75% retracement level of the January-May rally crossing at $8.29 1/2.
SOYBEAN COMPLEX? http://quotes.ino.com/ex?changes/?c=grains "
November soybeans closed up $0.25 3/4-cents at $14.20 1/2.
November soybeans posted an inside day with a higher close on Friday as it consolidates some of the decline off August'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 neutral to bearish signaling that sideways to lower prices are possible near-term. If November extends this week's decline, the August 16th low crossing at $13.76 is the next downside target. Closes above Wednesday's high would signal that a short-term low may have been posted. First resistance is last-Wednesday's high crossing at $14.84 1/2. Second resistance is the July 29th high crossing at $14.89. Third resistance is the June 30th high crossing at $15.07 3/4. First support is the August 16th low crossing at $13.76. Second support is the August 3rd low crossing at $13.56.
December soybean meal closed up $2.40 at $417.70.
December soybean meal 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 neutral to bearish signaling that sideways to lower prices are possible near-term. Multiple closes below the 20-day moving average crossing at $413.70 would confirm that a short-term top has been posted. If December resumes the rally off August's low, February's high crossing at $439.00 is the next upside target. First resistance is last-Wednesday's high crossing at $436.60. Second resistance is February's high crossing at $439.00. First support the 20-day moving average crossing at $413.70. Second support is the 50-day moving average crossing at $405.10.
December soybean oil closed up 266-pts. at 66.25.
December soybean oil closed higher on Friday. 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 neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at 62.86 would signal that a short-term top has been posted. If December resumes the rally off July's low, the 62% retracement level of the June-July decline crossing at 69.82 is the next upside target. First resistance is the August 12th high crossing at 68.16. Second resistance is the 62% retracement level of the June-July decline crossing at 69.82. First support is the 50-day moving average crossing at 62.86. Second support is the August 4th low crossing at 60.20.
LIVESTOCKhttp://quotes.ino.com/exchanges/?c=livestock
October hogs closed down $1.93 at $90.03.
October hogs closed lower on Friday as it extended the decline off August's high. The low-range close sets the stage for a steady to lower opening when Tuesday's 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 October extends the aforementioned decline, the 87% retracement level of the July-August rally crossing at $88.73 is the next downside target. Closes above the 50-day moving average crossing at $94.35 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at $94.35. Second resistance is the 20-day moving average crossing at $95.09. First support is today's low crossing at $89.75. Second support is the 87% retracement level of the July-August rally crossing at $88.73.
October cattle closed up $1.93 at $144.73.
October cattle closed higher on Friday and above the 20-day moving average crossing at $144.16 signaling that a short-term low has been posted. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If October extends today's rally, August's high crossing at $146.25 is the next upside target. Closes below the 50-day moving average crossing at $142.30 would open the door for additional weakness near-term. First resistance is today's high crossing at $144.75. Second resistance is August's high crossing at $146.25. First support is the 50-day moving average crossing at $142.30. Second support is the July 29th low crossing at $141.43.
October Feeder cattle closed up $0.73 at $185.08.
October Feeder cattle closed higher on Friday but remained below the 20-day moving average as it consolidated some of the decline off August'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 neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at $185.62 would signal that a short-term low has been posted. If October renews the aforementioned decline, the July low crossing at $176.25 is the next downside target. First resistance is the 20-day moving average crossing at $185.62. Second resistance is August's high crossing at $190.20. First support is July's low crossing at $176.25. Second support is the June 13th low crossing at $173.60.
FOOD & FIBERhttp://quotes.ino.com/ex changes/?c=food
December coffee closed lower on Friday as it extended the decline off August's high. The low-range close sets the stage for a steady to lower opening on Tuesday. 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 $22.44 would signal that a short-term top has been posted. If December renews the rally off July's low, February's high crossing at $25.34 is the next upside target. First resistance is August's high crossing at $24.30. Second resistance is February's high crossing at $25.34. First support is the 20-day moving average crossing at $22.44. Second support is the 20-day moving average crossing at $21.71.
December cocoa closed higher on Friday as it extended the July-September trading range. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are neutral to bullish signaling sideways to higher prices are possible near-term. Closes below last-Tuesday's low crossing at 23.14 would temper the near-term friendly outlook. If December resumes the rally off August's low, the June 21st high crossing at 25.07 is the next upside target.
October sugar closed higher on Friday. The mid-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If October extends last-week's rally, August's high crossing at 18.70 is the next upside target. Closes below the August 19th low crossing at 17.61 would open the door for a possible test of August's low crossing at 17.20.
December cotton closed limit down on Friday as it extended this week's decline. The low-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. If December extends this week's decline, the 50-day moving average crossing at 100.22 is the next downside target. If December renews the rally off July's low, the 75% retracement level of the May-July decline crossing at 121.11 is the next upside target.
Thanks very much, tallpine.
I'm back from Michigan now.