KEY EVENTS TO WATCH FOR:
Thursday, November 17, 2022
8:30 AM ET. U.S. Weekly Export Sales
8:30 AM ET. Unemployment Insurance Weekly Claims Report - Initial Claims
Jobless Claims (expected 225K; previous 225K)
Jobless Claims, Net Chg (previous +7K)
Continuing Claims (previous 1493000)
Continuing Claims, Net Chg (previous +6K)
8:30 AM ET. November Philadelphia Fed Business Outlook Survey
Business Activity (expected -6; previous -8.7)
Prices Paid (previous 36.3)
Employment (previous 28.5)
New Orders (previous 15.9)
Prices Received (previous 30.8)
Delivery Times (previous -12.6)
Inventories (previous -1.7)
Shipments (previous 8.6)
8:30 AM ET. October New Residential Construction - Housing Starts and Building Permits
Total Starts (expected 1.41M; previous 1.439M)
Housing Starts, M/M% (expected -2.0%; previous -8.1%)
Building Permits (expected 1.50M; previous 1.564M)
Building Permits, M/M% (expected -4.1%; previous +1.4%)
10:30 AM ET. EIA Weekly Natural Gas Storage Report
Working Gas In Storage (Cbf) (previous 3580B)
Working Gas In Storage, Net Chg (Cbf) (previous +79B)
11:00 AM ET. Nov. Federal Reserve Bank of Kansas City Survey of Tenth District Manufacturing
Mfg Activity Idx (previous -22)
6-Mo Exp Prod Idx (previous -1)
Mfg Composite Idx (expected -5; previous -7)
6-Mo Exp Composite Idx (previous -1)
2:00 AM ET. SEC Closed Meeting
4:30 PM ET. Foreign Central Bank Holdings
4:30 PM ET. Federal Discount Window Borrowings
Friday, November 18, 2022
10:00 AM ET. October State Employment and Unemployment
10:00 AM ET. 3rd Quarter Quarterly Retail E-Commerce Sales
10:00 AM ET. October Existing Home Sales
Existing Sales (expected 4.37M; previous 4.71M)
Existing Sales, M/M% (expected -7.2%; previous -1.5%)
Unsold Homes Month's Supply (previous 3.2)
Median Price (USD) (previous 384800)
Median Home Price, Y/Y% (previous +8.4%)
10:00 AM ET. October Leading Indicators
Leading Index, M/M% (expected -0.4%; previous -0.4%)
Leading Index
Coincident Index, M/M% (previous +0.2%)
Lagging Index, M/M% (previous +0.6%)
10:00 AM ET. 3rd Quarter Advance Quarterly Services
5-Year Inflation Forecast (previous 2.9%)
End-Mo Current Idx (previous 65.6)
1030/1530 11/18 EIA Weekly Petroleum Status Report
Crude Oil Stocks (Bbl)
Crude Oil Stocks, Net Chg (Bbl)
Gasoline Stocks (Bbl)
Gasoline Stocks, Net Chg (Bbl)
Distillate Stocks (Bbl)
Distillate Stocks, Net Chg (Bbl)
Refinery Usage
Total Prod Supplied (Bbl/day)
Total Prod Supplied, Net Chg (Bbl/day)
12:00 PM ET. EIA Weekly Natural Gas Storage Report
Working Gas In Storage (Cbf)
Working Gas In Storage, Net Chg (Cbf)
2:00 PM ET. Federal Open Market Committee meeting minutes published
The STOCK INDEXES? http://quotes.ino.com/ex?changes/?c=indexes
The Dow closed slightly lower on Wednesday. The low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If the Dow extends the rally off October's low, August's high crossing at 34,281.36 is the next upside target. Closes below the 20-day moving average crossing at 32,506.46 would signal that a short-term top has been posted. First resistance is Tuesday's high crossing at 33,987.06. Second resistance is August's high crossing at 34,281.36. First support is the 20-day moving average crossing at 32,506.46. Second support is the 50-day moving average crossing at 31,116.60.
The December NASDAQ 100 closed lower on Wednesday as it consolidates some of the rally off November's low. Today's low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling sideways to higher prices are possible. If December extends the rally off November's low, the 50% retracement level of the August-October decline crossing at 12,150.94 is the next upside target. Closes below the 10-day moving average crossing at 11,343.58 would signal that a short-term top has been posted. First resistance is the 50% retracement level of the August-October decline crossing at 12,150.94. Second resistance is the 62% retracement level of the August-October decline crossing at 12,547.94. First support is the 50-day moving average crossing at 11,469.22. Second support is the 10-day moving average crossing at 11,343.85.
The December S&P 500 closed lower on Wednesday as it consolidates some of the rally off November's low. The low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off last-Thursday's low, the 75% retracement level of the August-October decline crossing at 4136.35. Closes below the 50-day moving average crossing at 3805.99 would signal that a short-term top has been posted. First resistance is the 62% retracement level of the August-October decline crossing at 4024.30. Second resistance is the 75% retracement level of the August-October decline crossing at 4136.35. First support is the 50-day moving average crossing at 3805.99. Second support is November's low crossing at 3704.25.
INTEREST RATES? http://quotes.ino.com/ex?changes/?c=interest ""
December T-bonds closed up 1-29-pts. at 126-14.
December T-bonds closed higher on Wednesday and above the 50-day moving average crossing at 125-05 opening the door for a larger-degree rally near-term. The high-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off November's low, the 38% retracement level of the August-October decline crossing at 128-06 is the next upside target. Closes below the 20-day moving average crossing at 121-08 would signal that a short-term top has been posted. First resistance is today's high crossing at 126-17. Second resistance is the 38% retracement level of the August-October decline crossing at 128-06. First support is the 20-day moving average crossing at121-08. Second support is November's low crossing at 118-03.
December T-notes closed up 190-pts. at 113.050.
December T-notes closed higher on Wednesday as it extended the rally off November's low. The high-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off October's low, October's high crossing at 113.300 is the next upside target. First resistance is October's high crossing at 113.300. Second resistance is the 50% retracement of the August-October decline crossing at 115.142. First support is the 20-day moving average crossing at 110.290. Second support is November's low crossing at 109.105.
ENERGY MARKETS? http://quotes.ino.com/ex?changes/?c=energy ""
December crude oil closed lower on Wednesday. The mid-range close sets the stage for a steady to lower opening when Thursday's night session begins. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below last-Thursday's low crossing at $84.70 would confirm that a short-term top has been posted while opening the door for additional weakness near-term. If December renews the rally off September's low, August's high crossing at $95.55 is the next upside target. First resistance is August's high crossing at $95.45. Second resistance is the July 29th high crossing at $96.15. First support is Tuesday's low crossing at $84.06. Second support is the October 18th low crossing at $81.30.
December heating oil posted an inside day with a lower close on Wednesday as it extended the trading range of the past four-days. The mid-range close sets the stage for a steady opening when Thursday'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 December renews the rally off September's low, June's high crossing at $4.0651 is the next upside target. Closes below the 50-day moving average crossing at $3.4984 would open the door for additional weakness near-term. First resistance is November's high crossing at $3.9565. Second resistance is June's high crossing at $4.0651. First support is the 50-day moving average crossing at $3.4984. Second support is the October 21st low crossing at $3.4435.
December unleaded gas closed lower on Wednesday as it extended the decline off November's high. The high-range close sets the stage for a steady to slightly lower opening when Thursday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at $2.4703 would open the door for additional weakness near-term. Closes above Monday's high crossing at $2.6586 would signal that a short-term low has been posted. First resistance is November's high crossing at $2.8172. Second resistance is the 62% retracement level of the June-September decline crossing at $2.8638. First support is the 50-day moving average crossing at $2.4703. Second support is the October 18th low crossing at $2.3526.
December Henry natural gas closed higher on Wednesday as it extends the trading range of the past five-days. The high-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If December renews the decline off August's high, the 75% retracement level of the June-August rally crossing at 4.382 is the next downside target. First resistance is the 50-day moving average crossing at 6.848. Second resistance is the November 7th high crossing at 7.221. First support is the 62% retracement level of the July-August rally crossing at 5.393. Second support is the 75% retracement level of the June-August rally crossing at 4.382.
CURRENCIES? http://quotes.ino.com/ex?changes/?c=currencies ""
The December Dollar closed lower on Wednesday as it extends the decline off September's high. The mid-range close sets the stage for a steady to lower opening when Thursday's nights 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 aforementioned decline, the 50% retracement level of the January-September rally crossing at $104.650 is the next downside target. Closes above the 20-day moving average crossing at 109.950 would signal that a short-term low has likely been posted. First resistance is the 10-day moving average crossing at $108.685. Second resistance is the 20-day moving average crossing at $109.950. First support is Tuesday's low crossing at $105.155. Second support is the 50% retracement level of the January-September rally crossing at $104.650.
The December Euro closed higher on Wednesday as it extends the rally off November's low. The mid-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off September's low, the 38% retracement level of the 2021-2022 decline crossing at $1.07137 is the next upside target. Closes below the 20-day moving average crossing at 1.00619 would signal that a short-term top has been posted. First resistance is Tuesday's high crossing at $1.05085. Second resistance is the 38% retracement level of the 2021-2022 decline crossing at $1.07137 is the next upside target. First support is the 10-day moving average crossing at $1.01735. Second support is the 20-day moving average crossing at $1.00619.
The December British Pound closed higher on Wednesday as it extended the rally off September's low. The high-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling sideways to higher prices are possible near-term. If December extends the rally off September's low, August's high crossing at 1.2327 is the next upside target. Closes below the 20-day moving average crossing at 1.1540 would confirm that a short-term top has been posted. First resistance is Tuesday's high crossing at 1.2041. Second resistance is August's high crossing at 1.2327. First support is the 20-day moving average crossing at 1.1540. Second support is November's low crossing at 1.1156.
The December Swiss Franc closed slightly lower on Wednesday as it consolidated some of the rally off November's low. The low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends this month's rally, August's high crossing at 1.07550 is the next upside target. Closes below the 20-day moving average crossing at 1.02186 would signal that a short-term top has been posted. First resistance is Tuesday's high crossing at 1.07275. Second resistance is August's high crossing at 1.07550. First support is the 10-day moving average crossing at 1.03564. Second support is the 20-day moving average crossing at 1.02186.
The December Canadian Dollar closed lower on Wednesday as it consolidates some of the rally off October's low. The low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off October's low, September's high crossing at 77.18 is the next upside target. Closes below the 20-day moving average crossing at 73.95 would signal that a short-term top has been posted. First resistance September's high crossing at 77.18. Second resistance is the August 25th high crossing at 77.50. First support is the 10-day moving average crossing at 74.56. Second support is the 20-day moving average crossing at 73.95.
The December Japanese Yen closed lower on Wednesday extends this week's trading range. The high-range close sets the stage for a steady to higher opening when Thursday’s night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the aforementioned rally, the 62% retracement level of the August-October decline crossing at 0.073241 is the next downside target. Closes below the 20-day moving average crossing at 0.069112 would confirm that a short-term top has been posted. First resistance is the 62% retracement level of the August-October decline crossing at 0.073241. Second resistance is the 75% retracement level of the August-October decline crossing at 0.074751. First support is the 10-day moving average crossing at 0.070167. Second support is the 20-day moving average crossing at 0.069112.
PRECIOUS METALS? http://quotes.ino.com/ex?changes/?c=metals ""
December gold closed lower on Wednesday as it consolidates some of the rally off November's low. The mid-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the aforementioned rally, August's high crossing at $1824.60 is the next upside target. Closes below the 10-day moving average crossing at $1727.40 would signal that a short-term top has been posted. First resistance is Tuesday's high crossing at $1791.80. Second resistance is August's high $1824.60. First support is the 10-day moving average crossing at $1727.40. Second support is the 20-day moving average crossing at $1689.90.
December silver posted an inside day with a slightly higher close on Wednesday. The low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the aforementioned rally, 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 20.265 would signal that a short-term top has been posted. First resistance is Tuesday's high crossing at 22.380. Second resistance is the 50% retracement level of the March-September decline crossing at 22.448. First support is the 10-day moving average crossing at 21.250. Second support is the 20-day moving average crossing at 20.265.
December copper closed lower on Wednesday as it extends this week's decline.The low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 3.5851 would signal that a short-term top has been posted. If December extends the rally off September's low, the 50% retracement level of the March-July decline crossing at 4.0450 is the next upside target. First resistance is Monday's high crossing at 3.9600. Second resistance is the 50% retracement level of the March-July decline crossing at 4.0450. First support is the 10-day moving average crossing at 3.7181. Second support is the 20-day moving average crossing at 3.5852.
GRAINS? http://quotes.ino.com/ex?changes/?c=grains "
December Corn closed down $0.01 1/2-cents at $6.65 1/4.
December corn posted an inside day with a lower close on Wednesday as it consolidated some of Tuesday's rally. The high-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at $6.80 would signal that a short-term low has been posted. If December extends the decline off October's high, September's low crossing at $6.54 is the next downside target. First resistance is the 50-day moving average crossing at $6.80. Second resistance is psychological resistance crossing at $7.00. First support is September's low crossing at $6.54. Second support is the August 26th low crossing at $6.47 1/4.
December wheat closed down $0.10 3/4-cents at $8.17 1/2.
December wheat posted an inside day with a lower close on Wednesday. The mid-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at $8.62 1/2 would signal that a short-term low has been posted. If December renews this month's decline, September's low crossing at $7.91 1/4 is the next downside target. First resistance is the 50-day moving average crossing at $8.62 1/2. Second resistance is November's high crossing at $9.04. First support is September's low crossing at $7.91 1/4. Second support is August's low crossing at $7.43 1/4.
December Kansas City Wheat closed down $0.07 1/2-cents at $9.55 1/2.
December Kansas City wheat closed lower on Wednesday. The mid-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If December renews 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 October 28th low crossing at $9.15 1/4 would open the door for additional weakness near-term. First resistance is the 38% retracement level of the May-August decline crossing at $10.26 3/4. Second resistance is the 50% retracement level of the May-August decline crossing at $10.93 1/2. First support is the October 28th low crossing at $9.15 1/4. Second support is the September 19th low crossing at $8.96 1/4.
December Minneapolis wheat closed down $0.08 1/2-cents at $9.65 1/2.
December Minneapolis wheat closed lower on Wednesday. The mid-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If December renews the rally off August's low, the 38% retracement level of the May-August decline crossing at $10.66 1/2 is the next upside target. Closes below last-Thursday's low crossing at $9.33 would open the door for a larger-degree decline off October's high. First resistance is the 25% retracement level of the May-August decline crossing at $9.94 3/4. Second resistance is the 38% retracement level of the May-August decline crossing at $10.66 1/2. First support is last-Thursday's low crossing at $9.33. Second support is the September 6th low crossing at $9.06 1/2.
SOYBEAN COMPLEX? http://quotes.ino.com/ex?changes/?c=grains "
January soybeans closed down $0.28-cents at $14.29 1/4.
January soybeans closed sharply lower on Wednesday as it extended the trading range of the past three-weeks. The low-range close sets the stage for a steady to lower opening when Thursday's night trade begins. 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 $14.21 3/4 would signal that a short-term top has been posted. If January extends the rally off October's low, the 62% retracement level of the June-July decline crossing at $14.76 3/4 is the next upside target.First resistance is the 62% retracement level of the June-July decline crossing at $14.76 3/4. Second resistance is the 75% retracement level of the June-July decline crossing at $15.15 1/2. First support is the 50-day moving average crossing at $14.21 3/4. is the October 19th low crossing at $13.66 3/4.
December soybean meal closed down $3.30 at $406.60.
December soybean meal post closed lower on Wednesday as it extends the trading range of the past three-days. The mid-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off October's high, the October 18th low crossing at $398.80 is the next downside target. Closes above the 20-day moving average crossing at $415.40 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at $415.40. Second resistance is last-Monday's high crossing at $423.80. First support is Tuesday's low crossing at $402.20. Second support is the October 18th low crossing at $398.80.
December soybean oil closed down 290-pts. At 74.08.
December soybean oil closed sharply lower on Wednesday and below the 20-day moving average crossing at 74.27 signaling that a short-term top has been posted. The low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends today's decline, the October 28th low crossing at 71.09 is the next downside target. If December renews the rally off September's low, June's high crossing at 79.29 is the next upside target. First resistance is last-Friday's high crossing at 78.64. Second resistance is June's high crossing at 79.29. First support is the October 28th low crossing at 71.09. Second support is the 50-day moving average crossing at 68.84.
LIVESTOCKhttp://quotes.ino.com/exchanges/?c=livestock
December hogs closed up $0.28 at $85.60.
December hogs posted an inside day with a higher close on Wednesday. The mid-range close sets the stage for a steady to higher opening when Thursday's session begins trading. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. If December renews the rally off October's low, August's high crossing at $91.35 is the next upside target. Close below the 50-day moving average crossing at $83.40 confirm that a short-term top has been posted. First resistance is November's high crossing at $87.58. Second resistance is October's high crossing at $89.80. First support is the 50-day moving average crossing at $83.40. Second support is the October 9th low crossing at $81.35.
December cattle closed up $0.60 at $151.88.
December cattle closed higher on Wednesday. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are neutral to 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 $150.36 is the next downside target. If December renews the rally off September's low, the June-2015 high on the monthly continuation chart crossing at $156.48 is the next upside target. First resistance is October's high crossing at $154.20. Second resistance is the June-2015 high on the monthly continuation chart crossing at $156.48. First support is the 50-day moving average crossing at $150.36. Second support is the October 14th low crossing at $146.90.
January Feeder cattle closed up $0.63 at $183.65.
January Feeder cattle posted an inside day with a higher close on Wednesday as it consolidated some of Tuesday's decline. The mid-range close sets the stage for a steady to higher opening when Thursday's session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways trading is possible near-term. If January extends this week's decline, October's low crossing at $172.10 is the next downside target. If January renews the rally off October's low, the 62% retracement level of the August-October decline crossing at $184.56 is the next upside target. First resistance is the 50-day moving average crossing at $185.53. Second resistance is November's high crossing at $187.50. First support is Tuesday's low crossing at $182.38. Second support is October's low crossing at $172.10.
FOOD & FIBERhttp://quotes.ino.com/ex changes/?c=food
December coffee closed lower on Wednesday as it extends the decline off August's high. The low-range close sets the stage for a steady to lower opening on Thursday. 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 August's high, the 75% retracement level of the 2020-2022 rally crossing at $14.74 is the next downside target. Closes above the 20-day moving average crossing at $17.45 would signal that a low has been posted. First resistance is the 20-day moving average crossing at $17.45. Second resistance is November's high crossing at $18.34. First support is the 75% retracement level of the 2020-2022 rally crossing at $14.74. Second support is the 87% retracement level of the 2020-2022 rally crossing at $13.04.
December cocoa closed slightly higher on Wednesday. The high-range close sets the stage for a steady to slightly higher opening on Thursday. Stochastics and the RSI have turned neutral to bearish signaling sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 24.09 would signal that a short-term top has been posted. If December extends the rally off September's low, the June 6thhigh crossing at 25.89 is the next upside target.
March sugar closed slightly lower on Wednesday. The low-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off September's low, April's high crossing at 20.63 is the next upside target. Closes below the 10-day moving average crossing at 19.37 would confirm that a short-term top has been posted while opening the door for additional weakness near-term.
December cotton closed slightly lower on Wednesday as it extends the trading range of the past two-weeks. The low-range close sets the stage for a steady to lower opening on Thursday. 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 aforementioned rally, the reaction high crossing at 97.77 is the next upside target. Closes below the 20-day moving average crossing at 81.54 would signal that a top has been posted.
Thanks much tallpine!
Big jump yesterday on the missile news in Poland from traders concerned it was from Russia, back down and then some today when traders found out it came from Ukraine.
NG went from -3,000 mid morning to +2,000 early afternoon, most of it between 1-1:30 pm CST. Not from weather. Must be some other news.