KEY EVENTS TO WATCH FOR:

Monday, December 26, 2022  

  N/A              U.S.: Christmas Day holiday observed. Financial markets closed

Tuesday, December 27, 2022   

8:30 AM ET. November Advance Economic Indicators Report

9:00 AM ET. October U.S. Monthly House Price Index

9:00 AM ET. October S&P CoreLogic Case-Shiller Indices

                       10-City Idx, M/M% (previous -1.4%)

                       10-City Idx, Y/Y% (previous +9.7%)

                       20-City Idx, M/M% (previous -1.5%)

                       20-City Idx, Y/Y% (previous +10.4%)

                       National Idx, M/M% (previous -1.0%)

                       National Idx, Y/Y% (previous +10.6%)

10:30 AM ET. December Texas Manufacturing Outlook Survey

                       Business Activity (previous -14.4)

                       Mfg Production Idx (previous 0.8)

1:00 PM ET. November Money Stock Measures

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

The Dow closed higher on Friday. The high-range close sets the stage for a steady to higher opening when Tuesday's day 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 20-day moving average crossing at 33,643.12 would signal that a short-term low has been posted. Closes below Monday's low 32,581.97 would signal a resumption of the decline off December's high while opening the door for a possible test of November's low crossing at 31,727.05. First resistance is the 10-day moving average crossing at 33,334.49. Second resistance is the 20-day moving average crossing at 33,643.12. First support is Thursday's low crossing at 32,573.43. Second support is November's low crossing at 31,727.050.  

The March NASDAQ 100 posted an inside day with a higher close on Friday as it extends the decline off December's high. The high-range close sets the stage for a steady to higher opening when Tuesday's day session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling sideways to lower prices are possible. If March extends the aforementioned decline, November's low crossing at 10,746.75 is the next downside target. Closes above the 20-day moving average crossing at 11,639.45 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at 11,557.44. Second resistance is the 20-day moving average crossing at 11,639.45. First support is Thursday's low crossing at 10,870.50. Second support is November's low crossing at 10,746.75. 

The March S&P 500 posted an inside day with a higher close on Friday as it consolidated some of Thursday's key reversal down. The high-range close sets the stage for a steady to higher opening when Tuesday's 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 March extends the aforementioned decline, November's low crossing at 3735.00 is the next downside target. Closes above the 20-day moving average crossing at 3975.50 would confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 3923.53. Second resistance is the 20-day moving average crossing at 3975.50. First support is the November 9^th low crossing at 3782.75. Second support is November's low crossing at 3735.00.       

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March T-bonds closed down 1-04-pts. at 127-10. 

March T-bonds closed lower on Friday as it renewed the decline off December's high.The low-range close sets the stage for a lower opening when Tuesday's 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 March extends the decline off last-Thursday's high, the 50-day moving average crossing at 125-06 is the next downside target, If March resumes the rally off November's low, the 62% retracement level of the August-November decline crossing at 133-30 is the next upside target. First resistance is December's high crossing at 132-15. Second resistance is the 62% retracement level of the August-October decline crossing at 133-30. First support is the November 30^th low crossing at 126-00. Second support is the 50-day moving average crossing at 125.06.

March T-notes closed down 130-pts. at 113.045.

March T-notes closed lower on Friday as it extends the decline off December's high. The low-range close sets the stage for a steady to lower opening when Tuesday's 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 March extends the decline off December's high, the 50-day moving average crossing at 112.173 is the next downside target. If March renews the rally off October's low, the 62% retracement level of the August-November decline crossing at 116.232 is the next upside target. First resistance is the 50% retracement of the August-October decline crossing at 115.090. Second resistance is the 62% retracement of the August-October decline crossing at 116.232. First support is the 50-day moving average crossing at 112.173. Second support is the November 14^th low crossing at 112.055. 

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

February crude oil closed higher on Thursday as it extends the rally off December's low. The high-range close sets the stage for a steady to higher opening when Tuesday's day session begins. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If February extends the aforementioned rally, the 50-day moving average crossing at $80.76 is the next upside target. Closes below last-Friday's low crossing at $73.40 would signal that a short-term top has been posted. First resistance is today's high crossing at $80.33. Second resistance is the 50-day moving average crossing at $80.76. First support islast-Friday's low crossing at $73.40. Second support is the December 9^thlow crossing at $70.31. 

February heating oil closed sharply higher on Friday and tested the 50-day moving average crossing at $3.2464. The high-range close sets the stage for a steady to higher opening when Tuesday's day trading session begins. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If February renews the rally off the December 9^th low, December's high crossing at $3.3439 is the next upside target. Closes below Tuesday's low crossing at $2.9682 would signal that a short-term top has been posted. First resistance is the 50-day moving average crossing at $3.2464. Second resistance is December's high crossing at $3.3439. First support is Tuesday's low crossing at $3.9682. Second support is the December 9^th low crossing at $2.7517.

February unleaded gas closed sharply higher on Friday and above the 50-day moving average crossing at $2.3542 as it extended the rally off December's low. The high-range close sets the stage for a steady to higher opening when Tuesday's day session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If February extends this month's rally, the November 14^th high crossing at $2.5783 is the next upside target. Closes below last-Friday's low crossing at 2.1157 would signal that a short-term top has been posted. First resistance is today's high crossing at $2.3959. Second resistance is the November 14^th high crossing at $2.5783. First support is the 10-day moving average crossing at $2.2183. Second support is last-Friday's low crossing at 2.1157.  

February Henry natural gas closed slightly higher on Friday as it consolidated some of the decline off November's high. The mid-range close sets the stage for a steady to higher opening when Tuesday's 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 February extends the aforementioned decline, the 75% retracement level of the 2020-2022 rally crossing at 4.332 is the next downside target. Closes above the 50-day moving average crossing at 6.215 would signal that a short-term low has been posted.First resistance is the 10-day moving average crossing at 5.834. Second resistance is the 20-day moving average crossing at 6.022. First support is today's low crossing at 4.779. Second support is the 75% retracement level of the 2020-2022 rally crossing at 4.332. 

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

The March Dollar posted an inside day with a lower close on Friday as it extends the trading range of the past five-days. The mid-range close sets the stage for a steady to lower opening when Tuesday's 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 104.535 would signal that a short-term low has been posted. If March renews the decline off September's high, the 75% retracement level of the January-September rally crossing at $101.331 is the next downside target. First resistance is the 20-day moving average crossing at 104.535. Second resistance is the November 30^thhigh crossing at 106.775. First support is last-Thursday's low crossing at $102.875. Second support is 75% retracement level of the January-September rally crossing at $101.331.  

The March Euro posted an inside day with a higher close on Friday as it extends the extends the trading range of the past two-weeks. The high-range close sets the stage for a steady to higher opening when Tuesday's day session begins trading. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 1.06146 would signal that a short-term top has been posted. If March resumes the rally off September's low, the March 31^st high crossing at $1.09680 is the next upside target. First resistance is the 25% retracement level of the 2018-2022 decline crossing at $1.07982. Second resistance is the March 31^st high crossing at $1.09680. First support is the 20-day moving average crossing at $1.06146. Second support is the November 30^th low crossing at $1.03715. 

The March British Pound posted an inside day with a higher close on Friday as it consolidated some of the decline off December's high. The low-range close sets the stage for a steady to lower opening when Tuesday's day session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling sideways to lower prices are possible near-term. If March extends the decline off December's high, the 50-day moving average crossing at 1.1850 is the next downside target. Closes above the 10-day moving average crossing at 1.2215 would signal that a short-term low has been posted. If March renews the rally off September's low, the 62% retracement level of the May-September decline crossing at 1.2770 is the next upside target. First resistance is December's high crossing at 1.2479. Second resistance is the 62% retracement level of the May-September decline crossing at 1.2770. First support is the November 30^th low crossing at 1.1937. Second support is the 50-day moving average crossing at 1.1850.    

The March Swiss Franc closed lower on Friday following yesterday's key reversal down. The low-range close sets the stage for a steady to lower opening when Tuesday's day session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 1.08023 would signal that a short-term top has been posted. If March renews the rally off September's low, the 62% retracement level of the 2018-2022 decline crossing at 1.10351 is the next upside target. First resistance is December's high crossing at 1.09665. Second resistance is the 62% retracement level of the 2018-2022 decline crossing at 1.10351. First support is the 20-day moving average crossing at 1.08023. Second support is the November 30^th low crossing at 1.06060.

The March Canadian Dollar closed higher on Friday as it extends the trading range of the past three-weeks. The high-range close sets the stage for a steady to higher opening when Tuesday's day 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 73.90 would confirm that a short-term low has been posted. If March renews the decline off November's high, the November 3^rd low crossing at 72.58 is the next downside target. First resistance is the December 5^th high crossing at 74.82. Second resistance is the November 25^thhigh crossing at 75.16. First support is last-Friday's low crossing at 73.04. Second support is the November 3^rd low crossing at 72.58.

The March Japanese Yen closed lower on Friday as it consolidated some of Tuesday's rally. The low-range close sets the stage for a steady to lower opening when Tuesday’s 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 last-Thursday's low crossing at 0.073210 would confirm that a short-term top has been posted. If March extends the rally off October's low, August's high crossing at 0.078135 is the next upside target. First resistance is Tuesday's high crossing at 0.077470. Second resistance is August's high crossing at 0.078135. First support is last-Thursday's low crossing at 0.073210. Second support is the November 30^th low crossing at 0.072510.  

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

February gold 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 day session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at $1797.50 would signal that a short-term top has been posted while opening the door for additional weakness near-term. If February renews the rally off November's low, the 50% retracement level of the March-October decline crossing at $1861.40 is the next upside target. First resistance is last-Tuesday's high crossing at $1836.90. Second resistance is the 50% retracement level of the  March-October decline crossing at $1861.40. First support is the 20-day moving average crossing at $1797.50. Second support is the November 23^rd low crossing at $1733.50.

March silver 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 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 20-day moving average crossing at 23.122 would confirm that a short-term top has been posted while opening the door for additional weakness near-term. If March extends the rally off October's low, the 75% retracement level of the March-August decline crossing at 24.779 is the next upside target.First resistance is Wednesday's high crossing at 24.525. Second resistance is the 75% retracement level of the March-September decline crossing at 24.779. First support is the 20-day moving average crossing at 23.122. Second resistance is the December 16^th low crossing at 22.735.    

March copper posted an inside day with a higher close on Friday. The high-range close sets the stage for a steady to higher opening when Tuesday's day session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below Tuesday's low crossing at 3.7230 would confirm that a short-term top has been posted. If March renews the rally off September's low, the 50% retracement level of the March-July decline crossing at 4.0343 is the next upside target. First resistance is November's high crossing at 3.9470. Second resistance is the 50% retracement level of the March-July decline crossing at 4.0343. First support is Tuesday's low crossing at 3.7230. Second support is the 50-day moving average crossing at 3.6529.

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

March Corn closed up $0.05 3/4-cents at $6.66 1/4. 

March corn closed higher on Friday as it extended the rally off December's low. The high-range close sets the stage for a steady to higher opening when Tuesday's 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 March extends this month's rally, the 50-day moving average crossing at $6.69 1/4 is the next upside target. Closes below Monday's low crossing at $6.44 would confirm that a short-term top has been posted. If March renews the decline off October's high, the 62% retracement level of the July-October rally crossing at $6.23 is the next downside target. First resistance is today's high crossing at $6.67 3/4. Second resistance is the 50-day moving average crossing at $6.69 1/4. First support is Monday's low crossing at $6.44. Second support the December 7^th low crossing at $6.35. 

March wheat closed up $0.13 3/4-cents at $7.76.  

March wheat closed higher on Friday as it extends the rally off December's low. The high-range close sets the stage for a steady to higher opening when Tuesday's day session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Today's close above the December 13^th high crossing at $7.69 1/4 signals that a short-term low has been posted while opening the door for additional gains near-term. If March renews the decline off October's high, the September 9, 2021 low crossing at $6.94 is the next downside target. First resistance is today's high crossing at $7.78. Second resistance is the 50-day moving average crossing at $8.13 3/4. First support is the 75% retracement level of the 2018-2022 rally crossing at $7.24 1/4. Second support is the September 9, 2021 low crossing at $6.94.

March Kansas City Wheat closed up $0.08 3/4-cents at $8.74 3/4.

March Kansas City wheat closed higher on Friday. The high-range close sets the stage for a steady to higher opening when Tuesday's 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 December 13^th high crossing at $8.79 1/4 are needed to confirm that a short-term low has been posted. If March renews the decline off October's high, August's low crossing at $8.18 3/4 is the next downside target. First resistance is the December 13^th high crossing at $8.79 1/4. Second resistance is the 50-day moving average crossing at $9.08. First support is the December 6^th low crossing at $8.21 3/4. Second support is August's low crossing at $8.18 3/4.

March Minneapolis wheat closed up $0.09 1/2-cents at $9.31 3/4.

March Minneapolis wheat closed higher on Thursday as it extends this month's trading range. The high-range close sets the stage for a steady to higher opening when Tuesday's 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 December 13^th high crossing at $9.32 would confirm that a short-term low has been posted while opening the door for additional gains near-term. If March renews the decline off November's high, August's low crossing at $8.75 3/4 is the next downside target. First resistance is the December 13^th high crossing at $9.32. Second resistance is the 50-day moving average crossing at $9.45 1/2. First support is Monday's low crossing at $9.00 3/4. Second support is the December 6^th low crossing at $8.90.  

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

March soybeans closed up $0.12 1/2-cents at $14.84 1/2.

March soybeans closed higher on Friday while extending the trading range of the past three-week's trading range. The high-range close sets the stage for a steady to higher opening when Tuesday's day trade begins. Stochastics and the RSI are neutral signaling that sideways trading is possible near-term. If March renews the rally off October's low, September's high crossing at $15.08 is the next upside target. Closes below Tuesday's low crossing at $14.62 1/4 would signal a possible downside breakout of this month's trading range while opening the door for additional weakness near-term. First resistance is the December 9^th high crossing at $14.97 1/4. Second resistance is September's high crossing at $15.08. First support is Tuesday's low crossing at $14.62 1/4. Second support is the 50-day moving average crossing at $14.46.  

March soybean meal closed up $3.00 at $451.30. 

March soybean meal closed higher on Friday as it extends the trading range of the past three-weeks. The mid-range close sets the stage for a steady to higher opening when Tuesday's day session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at $442.60 would confirm a downside breakout of the aforementioned trading range. If March renews the rally off October's low, monthly resistance on the continuation chart crossing at $478.60 is the next upside target. First resistance is the December 9^th high crossing at $469.30. Second resistance is monthly resistance crossing at $478.60. First support is Monday's low crossing at $443.40. Second support is the 20-day moving average crossing at $442.60.  

March soybean oil closed up 64-pts. At 64.65. 

March soybean oil closed higher on Friday. The mid-range close sets the stage for a steady to higher opening when Tuesday's day session begins trading. Stochastics and the RSI are becoming overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off December's low, the 50-day moving average crossing at 66.88 is the next upside target. Closes below Thursday's low crossing at 63.50 would signal that a short-term top has been posted. First resistance is the 50-day moving average crossing at 66.88. Second resistance is the November 29^th high crossing at 72.49. First support is the 75% retracement level of the July-November rally crossing at 58.84. Second support is the 87% retracement level of the July-November rally crossing at 56.49. 

LIVESTOCKhttp://quotes.ino.com/exchanges/?c=livestock 

February hogs closed down $1.13 at $87.93. 

February hogs posted an inside day with a lower close on Friday as it consolidated some of the rally off December's low. The mid-range close sets the stage for a steady to lower opening when Tuesday's day session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If February extends this week's rally, December's high crossing at $91.90 is the next upside target. Closes below the 10-day moving average crossing at $85.44 would signal that a short-term top has been posted. First resistance is Thursday's high crossing at $89.33 Second resistance is December's high crossing at $91.90. First support is Wednesday's low crossing at $83.90. Second support is December's low crossing at $81.52.

February cattle closed up $0.48 at $157.78. 

February cattle posted a key reversal up as it closed higher on Friday. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If February extends this month's rally, the 87% retracement level of the monthly continuation chart crossing at $159.54 is the next upside target. Closes below the 50-day moving average crossing at $155.18 would signal that a short-term top has been posted. First resistance is Wednesday's high crossing at $157.98. Second resistance is the 87% retracement level of the monthly continuation chart crossing at $159.54. First support is the 50-day moving average crossing at $155.18. Second support is the December 7^th low crossing at $152.75.  

March Feeder cattle closed up $0.48 at $186.93. 

March Feeder cattle closed higher on Friday as it extends the rally off Tuesday's low. The high-range close sets the stage for a steady to higher opening when Tuesday's 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 March extends the rally off the November 28^th low, the 75% retracement level of the August-October decline crossing at $188.29 is the next upside target. Closes below the 50-day moving average crossing at $182.97 would confirm that a short-term top has been posted while opening the door for additional weakness near-term. First resistance is today's high crossing at $187.05. Second resistance is the 75% retracement level of the August-October decline crossing at $188.29. First support is the 50-day moving average crossing at $182.97. Second support is the November 28^th low crossing at $180.27.      

FOOD & FIBERhttp://quotes.ino.com/ex changes/?c=food 

March coffee closed higher on Friday. 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 above last-Friday's high crossing at $17.38 would open the door for additional gains near-term. If March renews the decline off August's high, November's low crossing at $15.41 is the next downside target. First resistance is last-Friday's high crossing at $17.38. Second resistance is November's high crossing at $17.82. First support is November's low crossing at $15.41. Second support is the 75% retracement level of the 2020-2022 rally crossing at $14.74. 

March cocoa closed higher on Friday as it extended Thursday's upside breakout of the November-December trading range. The mid-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. If March extends the rally off September low, the March-2022 high on the weekly continuation chart crossing at 27.10 is the next upside target. Closes below last-Friday's low crossing at 24.68 would signal that a short-term top has been posted while opening the door for additional weakness near-term.            

March sugar closed higher on Friday as it extends the rally off September's low. The mid-range close sets the stage for a steady to higher opening on Tuesday. 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, weekly resistance on the weekly continuation chart crossing at 26.46 is the next upside target. Closes below the 20-day moving average crossing at 19.91 would signal that a short-term top has been posted. 

March cotton closed higher on Friday. The high-range close sets the stage for a steady to higher 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 50-day moving average crossing at 81.76 would signal that a short-term top has been posted. If March extends the rally off October's low, the 50% retracement level of the August-October decline crossing at 93.31 is the next upside target.