KEY EVENTS TO WATCH FOR:

Wednesday, October 5, 2022  

7:00 AM ET. MBA Weekly Mortgage Applications Survey

                       Composite Idx (previous 254.8)

                       Composite Idx, W/W% (previous -3.7%)

                       Purchase Idx-SA (previous 199.3)

                       Purchase Idx-SA, W/W% (previous -0.4%)

                       Refinance Idx (previous 524.1)

                       Refinance Idx, W/W% (previous -10.9%)

8:15 AM ET. September ADP National Employment Report

                       Private Sector Jobs, Net Chg (previous +132000)

8:30 AM ET. August U.S. International Trade in Goods & Services

                       Trade Balance (USD) (previous -70.65B)

                       Exports (USD) (previous 259.29B)

                       Exports, M/M% (previous +0.2%)

                       Imports (USD) (previous 329.94B)

                       Imports, M/M% (previous -2.9%)

9:00 AM ET. IMF World Economic Outlook analytical chapters

9:45 AM ET. September US Services PMI

                       PMI, Services (previous 43.7)

10:00 AM ET. September ISM Report On Business Services PMI

                       Services PMI (previous 56.9)

                       Business Activity Idx (previous 60.9)

                       Prices Idx (previous 71.5)

                       Employment Idx (previous 50.2)

                       New Orders Idx (previous 61.8)

10:30 AM ET. EIA Weekly Petroleum Status Report

                       Crude Oil Stocks (Bbl) (previous 430.559M)

                       Crude Oil Stocks, Net Chg (Bbl) (previous -0.215M)

                       Gasoline Stocks (Bbl) (previous 212.188M)

                       Gasoline Stocks, Net Chg (Bbl) (previous -2.422M)

                       Distillate Stocks (Bbl) (previous 114.359M)

                       Distillate Stocks, Net Chg (Bbl) (previous -2.891M)

                       Refinery Usage (previous 90.6%)

                       Total Prod Supplied (Bbl/day) (previous 20.77M)

                       Total Prod Supplied, Net Chg (Bbl/day) (previous +1.832M)

11:00 AM ET. September Global Services PMI

                       PMI, Services (previous 49.2)

Thursday, October 6, 2022   

7:30 AM ET. September Challenger Job-Cut Report

                       Job Cuts, M/M% (previous -21%)

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

                       Jobless Claims (previous 193K)

                       Jobless Claims, Net Chg (previous -16K)

                       Continuing Claims (previous 1347000)

                       Continuing Claims, Net Chg (previous -29K)

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

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

                       Working Gas In Storage (Cbf) (previous 2977B)

                       Working Gas In Storage, Net Chg (Cbf) (previous +103B)

12:00 PM ET. September Monthly U.S. Retail Chain Store Sales Index

4:30 PM ET. Foreign Central Bank Holdings

4:30 PM ET. Federal Discount Window Borrowings

Friday, October 7, 2022  

8:30 AM ET. IMF releases Chapter 2 of the Global Financial Stability Report

8:30 AM ET. September U.S. Employment Report

                       Non-Farm Payrolls (previous +315K)

                       Unemployment Rate (previous 3.7%)

                       Avg Hourly Earnings (USD) (previous 32.36)

                     Avg Hourly Earnings-Net Chg (USD) (previous +0.1)

                       Avg Hourly Earnings, M/M% (previous +0.31%)

                       Avg Hourly Earnings, Y/Y% (previous +5.20%)

                       Overall Workweek (previous 34.5)

                       Overall Workweek Net Chg (previous -0.1)

                       Government Payrolls (previous +7K)

                       Private Payroll (previous +308K)

                       Participation Rate (previous 62.4%)

                       Non-Farm Payrolls Bench Net Chg

10:00 AM ET. August Monthly Wholesale Trade

                       Inventories, M/M% (previous +0.6%)

3:00 PM ET. August Consumer Credit

                       Consumer Credit Net Chg (USD) (previous +23.8B)

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

The STOCK INDEXES: The December NASDAQ 100 was lower overnight as it consolidates some of the sharp rebound off Monday's low. Overnight weakness sets the stage for a lower opening when the day session begins trading.Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 11,786.25 would signal that a short-term low has been posted. If December renews the decline off August's high, monthly support crossing at 10,027.00 is the next downside target. First resistance is the 20-day moving average crossing at 11,786.25. Second resistance is the September 21^st high crossing at 12,140.50. First support is Monday's low crossing at 10,890.75. Second support is monthly support crossing at 10,027.00.

The December S&P 500 was steady to lower overnight as it consolidates some of the rally off Monday's low. The stage is set for a 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 3831.46 would signal that a short-term low has been posted. If December renews the decline off August's high, the 50% retracement level of the 2020-2022 rally on the monthly continuation chart crossing at 3491.65 is the next downside target. First resistance is the 20-day moving average crossing at 3831.46. Second resistance is the September 20^th high crossing at 3936.25. First support is Monday's low crossing at 3571.75. Second support is the 50% retracement level of the 2020-2022 rally on the monthly continuation chart crossing at 3491.65.

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

INTEREST RATES: December T-bonds were lower overnight as it consolidates some of the rally off last-Wednesday's low. The low-range overnight trade sets the stage for a 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 129-16 would confirm that a short-term low has been posted. If December renews the decline off August's high, monthly support crossing at 118-21 is the next downside target. First resistance is the 20-day moving average crossing at 129-16. Second resistance is the 50-day moving average crossing at 135-08. First support is last-Wednesday's low crossing at 123-30. Second support is monthly support crossing at 118-21.

December T-notes was lower overnight and sets the stage for a 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 113.218 would signal that a short-term low has been posted. If December renews the decline off August's high, the 75% retracement level of the 2000-2020 rally on the monthly continuation chart crossing at 105.157 is the next downside target. First resistance is the 20-day moving average crossing at 113.218. Second resistance is the 50-day moving average crossing at 116.226. First support is last-Wednesday's low crossing at 110.190. Second support is the 75% retracement level of the 2000-2020 rally on the monthly continuation chart crossing at 105.157. 

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

ENERGIES:November crude oil was higher overnight as it extends the rally off last-Monday's low. Overnight trading 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 $87.46 would open the door for a possible test of the of the June-August downtrend line crossing near-term $89.50. Closes below the 10-day moving average crossing at $81.69 would signal that a short-term top has been posted. First resistance is the 50-day moving average crossing at $87.46. Second resistance is the September 14^th high crossing at $89.63. First support is the 10-day moving average crossing at $81.69. Second support is last-Monday's low crossing at $76.25. Third support is the 50% retracement level of the 2020-2022 rally crossing at $74.38.

November heating oil was higher overnight as it extends the rally off last-Monday's low. Overnight trading sets the stage for a steady to slightly higher 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 November extends the rally off last-Monday's low, September's high crossing at 3.6996 is the next upside target. Closes below the 10-day moving average crossing at $2.2982 would signal that a short-term top has been posted. First resistance is the overnight high crossing at $3.5827. Second resistance is the September 6^th high crossing at $3.6996. First support is the 38% retracement level of the 2020-2022 rally crossing at $3.0693. Second support is the 50% retracement level of the 2020-2022 rally crossing at $2.7293.

November unleaded gas was lower overnight as it consolidates some of the rally off last-Monday's low. Overnight trading sets the stage for a 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 November extends the rally off September's low, the August 11^th high crossing at $2.7173 is the next upside target. Closes below the 20-day moving average crossing at $2.4236 would signal that a short-term top has been posted. First resistance is the August 11^th high crossing at $2.7173. Second resistance is the July 29^th high crossing at $2.8440. First support is the 20-day moving average crossing at $2.4236. Second support is the September 8^th low crossing at $2.2487.

November Henry natural gas was slightly lower overnight and 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 November extends the decline off August's high, the 87% retracement level of the June-August rally crossing at 6.048 is the next downside target. Closes above the 20-day moving average crossing at 7.503 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at 6.866. Second resistance is the 20-day moving average crossing at 7.503. First support is the 87% retracement level of the June-August rally crossing at 6.048. Second support is July's low crossing at 5.465.     

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

CURRENCIES:The December Dollar was higher overnight as it consolidates some of the decline off last-Wednesday's high. Overnight trading sets the stage for a higher opening when the day session begins trading. Stochastics and the RSI are neutral to bearish signaling that a sideways to lower prices are possible near-term. If December extends the decline off last-Wednesday's high, the 50-day moving average crossing at $108.582 is the next downside target. If December renews the rally off August's low, monthly resistance crossing at $114.782 is the next upside target.First resistance is last-Wednesday's high crossing at $114.745. Second resistance is monthly resistance crossing at $114.782. First support is the 50-day moving average crossing at $108.582. Second support is September's low crossing at $107.450.

The December Euro was lower overnight as it consolidates some of the rally off last-Wednesday's low. Overnight trading sets the stage for a 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 50-day moving average crossing at $1.00980 would open the door for a possible test of September's high crossing at $1.02650. Closes below the 10-day moving average crossing at $0.98360 would signal that a short-term top has been posted. First resistance is the 50-day moving average crossing at $1.00980. Second resistance is September's high crossing at $1.02650. First support is the 10-day moving average crossing at $0.98360. Second support is last-Wednesday's low crossing at $0.95920.  

The December British Pound was steady to lower overnight as it consolidates some of the rally off last-Monday's low. Overnight trading sets the stage for a 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 December extends the rally off last-Monday's low, the 50-day moving average crossing at 1.1696 is the next upside target. Closes below the 10-day moving average crossing at 1.1092 would signal that a short-term top has been posted. First resistance is the 50-day moving average crossing at 1.1696. Second resistance is September's high crossing at 1.1759. First support is the 10-day moving average crossing at 1.1092. Second support is last-Monday's low crossing at 1.0392.  

The December Swiss Franc is working on a possible inside day but was lower overnight. Overnight trading sets the stage for a lower opening when the day session begins trading. Stochastics and the RSI are neutral signaling that sideways trading is possible near-term. If December renews the decline off September's high, the June low on the monthly continuation chart crossing at 1.00235 is the next downside target. Closes above the 20-day moving average crossing at 1.03529 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 1.03529. Second resistance is the 50-day moving average crossing at 1.04523. First support is last-Wednesday's low crossing at 1.01105. Second support is the June low on the monthly continuation chart crossing at 1.00235.

The December Canadian Dollar was steady to lower overnight. The low-range overnight trade sets the stage for a 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 $74.55 would confirm that a short-term low has been posted. If December renews  the decline off April's high, the 75% retracement level of the 2020-2021 rally crossing at $72.14 is the next downside target. First resistance is the 20-day moving average crossing at $74.55. Second resistance is the September 20^th high crossing at $75.62. First support is last-Friday's low crossing at $72.27. Second support is the 75% retracement level of the 2020-2021 rally crossing at $72.14.

The December Japanese Yen was slightly lower overnight as it extends September's trading range.  Overnight trading sets the stage for a slightly 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 is possible near-term. If December renews this year's decline, is long-term support crossing at 0.065720 is the next downside target. Closes above the September 22^nd high crossing at 0.071895 would signal that a short-term low has been posted. First resistance is the September 22^nd high crossing at 0.071895. Second resistance is the 50-day moving average crossing at 0.072668. First support is the September 22^nd low crossing at 0.069150. Second support is long-term support crossing at 0.065720. 

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

PRECIOUS METALS: Decembergold was lower overnight as it consolidates some of the rally off last-Wednesday's low. Overnight weakness sets the stage for a 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. Closes above the 50-day moving average crossing at $1736.80 would open the door for a larger-degree rebound during the first half of October. Closes below the 10-day moving average crossing at $1676.50 would signal that a short-term top has been posted. First resistance is the 50-day moving average crossing at $1736.80. Second resistance is the August 25^th high crossing at $1778.80. First support is last-Wednesday's low crossing at $1622.20. Second support is the 62% retracement level of the 2016-2020 rally on the weekly chart crossing at $1610.30.

December silver was lower overnight as it consolidates some of the rally off last-Wednesday's low. The low-range overnight trade sets the stage for a lower opening when the day session begins trading later this morning. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off September's low, the 50% retracement level of the March-August decline crossing at $22.448 is the next upside target. Closes below the 20-day moving average crossing at 19.341 would open the door for a possible test of September's low crossing at 17.400. First resistance is the 38% retracement level of the March-August decline crossing at $21.248. Second resistance is 50% retracement level of the March-August decline crossing at $22.448. First support is last-Wednesday's low crossing at $17.895. Second support is the September low crossing at 17.400.  

December copper was steady to slightly lower overnight and sets the stage for a 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 50-day moving average crossing at 3.5303 would confirm that a short-term low has been posted. If December renews the decline off August's high, July's low crossing at 3.1355 is the next downside target. First resistance is the 50-day moving average crossing at 3.5303. Second resistance is the September 13^th high crossing at 3.6925. First support is last-Wednesday's low crossing at 3.2430. Second support is July's low crossing at 3.1355.

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

December corn was lower overnight as it extends the September-October trading range. Overnight trading sets the stage for a lower opening when the day sessions begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If December renews the rally off July's low, the 75% retracement level of the May-July decline crossing at $7.15 is the next upside target. Closes below last-Wednesday's low would open the door for a possible test of the 50-day moving average crossing at $6.52 is the next downside target. First resistance is the September 12^th high crossing at $6.99 1/2. Second resistance is the 75% retracement level of the May-July decline crossing at $7.15. First support is the September 6^th low crossing at $6.59. Second support is the 50-day moving average crossing at $6.52. 

December wheat was lower overnight and sets the stage for a lower opening when the day session begins trading. Stochastics and the RSI are 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 $8.78 3/4 would signal that a short-term top has been posted. If December extends the rally off August's low, the 38% retracement level of the May-August decline crossing at $9.50 1/2 is the next upside target. First resistance is the 38% retracement level of the May-August decline crossing at $9.50 1/2. Second resistance is the 50% retracement level of the May-August decline crossing at $10.14 3/4. First support is the 20-day moving average crossing at $8.78 3/4. Second support is the 50-day moving average crossing at $8.35 1/2.    

December Kansas City wheat was lower overnight as it consolidates some of the rally off August's low. Overnight trading sets the stage for a lower opening when the day session begins trading later this morning. Stochastics and the RSI are overbought, diverging but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off August's low, the 38% retracement level of the May-August decline crossing at $10.26 3/4 is the next upside target. Closes below the 20-day moving average $9.51 1/2 would signal that a short-term top has been posted while opening the door for additional weakness near-term. First resistance is the July 11^th high crossing at $10.10. Second resistance is the 38% retracement level of the May-August decline crossing at $10.26 3/4. First support is the 20-day moving average $9.51 1/2. Second support is the 50-day moving average crossing at $9.05.

December Minneapolis wheat was lower overnight. Overnight trading sets the stage for a lower opening when the day 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 $9.49 would signal that a short-term top has been posted while opening the door for additional weakness near-term. If December extends the rally off August's low, the July 11^th high crossing at $10.56 1/4 is the next upside target. First resistance is the the 25% retracement level of the May-August decline crossing at $9.94 3/4. Second resistance is the July 11^th high crossing at $10.56 1/4. First support is the 50-day moving average crossing at $9.24. Second support is September's low crossing at $8.80. 

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

November soybeans were lower overnight and 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 November extends the decline off September's high, August's low crossing at $13.56 is the next downside target. Closes above the 20-day moving average crossing at $14.26 3/4 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at $14.26 3/4. Second resistance is the September 21^st high crossing at $14.88 3/4. First support is August's low crossing at $13.56. Second support is July's low crossing at $12.88 1/2.

December soybean meal was steady to slightly lower overnight as it extends the decline off September's high. 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off September's high, August's low crossing at $395.50 is the next downside target. Closes above the 20-day moving average crossing at $418.50 would temper the near-term bearish outlook. First resistance is the 50-day moving average crossing at $415.00. Second resistance is the 20-day moving average crossing at $418.50. First support is Monday's low crossing at $399.30. Second support is August's low crossing at $395.50.  

December soybean oil was lower overnight as it consolidated some of this week's rally but at the same time extending the August-October trading range. The low-range overnight trade sets the stage for a 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 December extends the rally off September's low, the September 21^st high crossing at 66.82 is the next upside target. If December renews the decline off September's high, the August 4^th low crossing at 60.20 is the next downside target. First resistance is the September 21^st high crossing at 66.82. Second resistance is September's high crossing at 68.00. First support is last-Wednesday's low crossing at 60.75. Second support is the August 4^th low crossing at 60.20.