INO Evening Market Comments
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Started by tallpine - Feb. 13, 2023, 4:48 p.m.

KEY EVENTS TO WATCH FOR:



Tuesday, February 14, 2023  



6:00 AM ET. January NFIB Index of Small Business Optimism

                       Small Business Idx (previous 89.8)



8:30 AM ET. January CPI

                       CPI, M/M% (previous -0.1%)

                       Core CPI, M/M% (previous +0.3%)

                       Energy Idx, M/M% (previous -4.5%)

                       Food Idx, M/M% (previous +0.3%)

                       Real Avg Wkly Pay-Infla Adj, M/M% (previous +0.1%)

                       CPI, Y/Y% (previous +6.5%)

                       Core Annual, Y/Y% (previous +5.7%)



8:30 AM ET. January Real Earnings



8:55 AM ET. Johnson Redbook Retail Sales Index

                       Ret Sales Mo-to-Date, Y/Y% (previous +4.3%)

                       Latest Wk, Y/Y% (previous +4.3%)



4:30 PM ET.  API Weekly Statistical Bulletin

                       Crude Stocks, Net Chg (Bbls) (previous -2.2M)

                       Gasoline Stocks, Net Chg (Bbls) (previous +5.3M)

                       Distillate Stocks, Net Chg (Bbls) (previous +1.1M)



Wednesday, February 15, 2023



7:00 AM ET. MBA Weekly Mortgage Applications Survey

                       Composite Idx (previous 249.5)

                       Composite Idx, W/W% (previous +7.4%)

                       Purchase Idx-SA (previous 190)

                       Purchase Idx-SA, W/W% (previous +3.1%)

                       Refinance Idx (previous 549.3)

                       Refinance Idx, W/W% (previous +17.7%)



8:30 AM ET. January Advance Monthly Sales for Retail & Food Services

                       Overall Sales-SA, M/M% (expected +1.7%; previous -1.1%)

                       Sales, Ex-Auto, M/M% (expected +0.7%; previous -1.1%)

                       Sales, Ex-Auto & Gas, M/M% (previous -0.7%)



8:30 AM ET. February Empire State Manufacturing Survey

                       Mfg Idx (expected -19.2; previous -32.9)

                       Employment Idx (previous 2.8)

                       New Orders Idx (previous -31.1)

                       Prices Received (previous 18.8)



9:15 AM ET. January Industrial Production & Capacity Utilization

                       Industrial Production, M/M% (expected +0.4%; previous -0.7%)

                       Capacity Utilization % (expected 79.0%; previous 78.8%)

                       Capacity Utilization, Net Chg (Pts) (previous -0.6)



10:00 AM ET. February NAHB Housing Market Index

                       Housing Mkt Idx (expected 36; previous 35)



10:00 AM ET. January Online Help Wanted Index



10:00 AM ET. December Manufacturing & Trade: Inventories & Sales

                       Total Inventories (expected +0.3%; previous +0.4%)



10:00 AM ET. SEC Open Meeting



10:30 AM ET. EIA Weekly Petroleum Status Report

                       Crude Oil Stocks (Bbl) (previous 826.7M)

                       Crude Oil Stocks, Net Chg (Bbl) (previous +2.4M)

                       Gasoline Stocks (Bbl) (previous 239.6M)

                       Gasoline Stocks, Net Chg (Bbl) (previous +5.0M)

                       Distillate Stocks (Bbl) (previous 120.5M)

                       Distillate Stocks, Net Chg (Bbl) (previous +2.9M)

                       Refinery Usage (previous 87.9%)

                       Total Prod Supplied (Bbl/day) (previous 20.536M)

                       Total Prod Supplied, Net Chg (Bbl/day) (previous +0.43M)

                       

4:00 PM  ET. December Treasury International Capital Data



Thursday, February 16, 2023 



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



8:30 AM ET. January PPI

                       PPI, M/M% (expected +0.4%; previous -0.5%)



                       Ex-Food & Energy PPI, M/M% (expected +0.3%; previous +0.1%)



                       Personal Consumption (previous -0.4%)



8:30 AM ET. January New Residential Construction - Housing Starts and Building Permits

                       Total Starts (expected 1.35M; previous 1.382M)

                       Housing Starts, M/M% (expected -2.3%; previous -1.4%)

                       Building Permits (expected 1.35M; previous 1.330M)

                       Building Permits, M/M% (expected +1.5%; previous -1.6%)



8:30 AM ET. February Philadelphia Fed Business Outlook Survey

                       Business Activity (expected -7.4; previous -8.9)

                       Prices Paid (previous 24.5)

                       Employment (previous 10.9)

                       New Orders (previous -10.9)

                       Prices Received (previous 29.9)

                       Delivery Times (previous -5.6)

                       Inventories (previous 0.9)

                       Shipments (previous 11.1)



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

                       Jobless Claims (expected 200K; previous 196K)

                       Jobless Claims, Net Chg (previous +13K)

                       Continuing Claims (previous 1688000)

                       Continuing Claims, Net Chg (previous +38K)



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

                       Working Gas In Storage (Cbf) (previous 2366B)

                       Working Gas In Storage, Net Chg (Cbf) (previous -217B)

                       

2:00 PM ET. SEC Closed Meeting



4:30 PM ET. Foreign Central Bank Holdings

4:30 PM ET. Federal Discount Window Borrowings



Friday, February 17, 2023  



8:30 AM ET. January Import & Export Price Indexes

                       Import Prices (expected -0.1%; previous +0.4%)

                       Non-Petroleum Prices (previous +0.8%)

                       Petroleum Prices (previous -2.7%)



10:00 AM ET. January Leading Indicators

                       Leading Index, M/M% (expected -0.4%; previous -1.0%)

                       Leading Index

                       Coincident Index, M/M% (previous +0.1%)

                       Lagging Index, M/M% (previous +0.3%)



10:00 AM ET. 4th Quarter Advance Quarterly Services

10:00 AM ET. 4th Quarter Quarterly Retail E-Commerce Sales



Monday, February 20, 2023  



N/A              U.S. Presidents Day / Washington's Birthday. Financial markets closed


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



The Dow closed higher on Monday 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. If the Dow renews the rally off the January 20th low, December's high crossing at 34,712.28 is the next upside target. Closes below the 50-day moving average crossing at 33,640.68 would signal that a short-term top has been posted. First resistance is January's high crossing at 34,342.32. Second resistance is the December 13th high crossing at 34,712.28. First support is the 50-day moving average crossing at 33,640.68. Second support is the January 5th low crossing at 32,812.33. 



The March NASDAQ 100 closed higher on Monday as it consolidates some of the decline off February'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 neutral to bearish signaling sideways to lower prices are possible. Closes below the 20-day moving average crossing at 12,164.84 would signal that a short-term top has been posted. If March renews the rally off January's low, the 75% retracement level of the August-October decline crossing at 13,058.13 is the next upside target. First resistance is February's high crossing at 12,934.50. Second resistance is the 75% retracement level of the August-October decline crossing at 13,058.13. First support is the 20-day moving average crossing at 12,164.84. Second support is the 50-day moving average crossing at 11,705.30.   



The March S&P 500 closed higher on Monday. 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 the 20-day moving average crossing at 4073.54 would signal that a short-term top has been posted. If March resumes the rally off December's low, the 87% retracement level of the August-October decline crossing at 4255.15 is the next upside target. First resistance is February's high crossing at 4208.50. Second resistance is the 87% retracement level of the August-October decline crossing at 4255.15. First support is the 20-day moving average crossing at 4073.54. Second support is the 50-day moving average crossing at 3992.09.       



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



March T-bonds closed up 20/32's at 127-18. 



March T-bonds closed higher on Monday as it consolidated some of the decline off February'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 that sideways to lower prices are possible near-term. If March extends this month's decline, the 50% retracement level of the October-January rally crossing at 125-07 is the next downside target. Closes above the 20-day moving average crossing at 129-27 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 129-27. Second resistance is February's high crossing at 132-22. First support is the 50% retracement level of the October-January rally crossing at 125-07. Second support is the December 30th low crossing at 124-11.



March T-notes closed up 50-pts. at 112.275.



March T-notes closed higher on Monday following a test of the October-November uptrend line crossing near 112.170. 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, December's low crossing at 111.280 is the next downside target. Closes above the 20-day moving average crossing at 114.136 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at 113.278. Second resistance is the 20-day moving average crossing at 114.136. First support is December's low crossing at 111.280. Second support is the November 3rd low crossing at 109.220. 



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



March crude oil closed slightly lower on Monday as it consolidated some of the rally off last-Monday's low. The mid-range close sets the stage for a steady 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 March extends the rally off last-Monday's low, January's high crossing at $82.66 is the next upside target. Closes below last-Thursday's low crossing at $76.52 would temper the near-term friendly outlook.First resistance is today's high crossing at $80.62. Second resistance is January's high crossing at $82.66. First support is last-Thursday's low crossing at $76.52. Second support is last-Monday's low crossing at $72.25. 



March heating oil closed slightly higher on Monday. 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at $3.0301 would signal that a short-term low has been posted. If March renews the decline off January's high, the 50% retracement level of the 2020-2022 rally crossing at $2.5401 is the next downside target. First resistance is the 50-day moving average crossing at $3.0301. Second resistance is the 20-day moving average crossing at $3.0731. First support is last-Monday's low crossing at $2.6653. Second support is the 50% retracement level of the 2020-2022 rally crossing at $2.5401. 



March unleaded gas closed higher on Monday as it extended the rally off last-Monday'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. Closes above the 20-day moving average crossing at 2.5282 would signal that a short-term low has been posted. Closes below the 50-day moving average crossing at 2.3812 would signal that a short-term top has been posted. First resistance is the 20-day moving average crossing at 2.5282. Second resistance is January's high crossing at $2.7186. First support is last-Monday's low crossing at 2.2720. Second support is January's low crossing at $2.2439. 



March Henry natural gas closed lower on Monday as it extended last-week's trading range. 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 November's high, the December-2020 low on the monthly continuation chart crossing at 2.238 is the next downside target. Closes above the 20-day moving average crossing at 2.746 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 2.746. Second resistance is the January 24th high crossing at 3.300. First support is the February 3rd low crossing at 2.341. Second support is the December-2020 low on the monthly continuation chart crossing at 2.238.



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



The March Dollar closed lower on Monday as it extended last-week's trading range. The low-range close sets the stage for a steady to lower opening when Tuesday's session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. Multiple closes above last-Tuesday's high crossing at $103.850 would confirm that a short-term low has been posted while opening the door for a possible test of January's high crossing at $105.500. If March renews the decline off September's high, the 87% retracement level of the January-September rally crossing at $99.229 is the next downside target. First resistance is last-Tuesday's high crossing at $103.850. Second resistance is January's high crossing at $105.500. First support is February's low crossing at $100.680. Second support is the 87% retracement level of the January-September rally crossing at $99.229. 



The March Euro closed higher on Monday as it consolidated some of the decline off February'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 that sideways to lower prices are possible near-term. Last Friday's close below the 50-day moving average crossing at $1.07500 opens the door for a possible test of January's low crossing at $1.05290. Closes above the 20-day moving average crossing at $1.08483 would signal that a short-term low has been posted. First resistance is February's high crossing at $1.10590. Second resistance is the 38% retracement level of the 2018-2022 decline crossing at $1.14137. First support is today's low crossing at $1.06740. Second support is January's low crossing at $1.05290. 



The March British Pound closed higher on Monday. 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 sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 1.2264 would signal that a short-term low has been posted. If March extends January's decline, January's low crossing at 1.1861 is the next downside target. First resistance is the 20-day moving average crossing at 1.2264. Second resistance is January's high crossing at 1.2462. First support is last-Tuesday's low crossing at 1.2034. Second support is January's low crossing at 1.1861. 

 

The March Swiss Franc closed higher on Monday. 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 are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the decline off February's high, January's low crossing at 1.06915 is the next downside target. If March extends the rally off last-Monday's low, the 62% retracement level of the 2018-2022 decline crossing at 1.10351 is the next upside target. First resistance is the 62% retracement level of the 2018-2022 decline crossing at 1.10351. Second resistance is the 75% retracement level of the 2018-2022 decline crossing at 1.12250. First support is last-Tuesday's low crossing at 1.08020. Second support is the January 6th low crossing at 1.06915. 



The March Canadian Dollar closed slightly higher on Monday. The high-range close sets the stage for a steady to higher opening when Tuesday's day session begins trading. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. If March renews the rally off last-Monday's low, the February 2nd high crossing at 75.42 is the next upside target. Closes below the 50-day moving average crossing at 74.21 would confirm that a short-term top has been posted. First resistance is the February 2ndhigh crossing at 75.42. Second resistance is November's high crossing at 75.71. First support is the 50-day moving average crossing at 74.21. Second support is the January 19th low crossing at 73.99.



The March Japanese Yen closed lower on Monday as it spiked to its lowest level since January 6th. 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. If March extends the decline off January's high, January's low crossing at 0.074830 is the next downside target. Closes above last-Friday's high crossing at 0.077340 would signal that a short-term low has been posted. First resistance is February's high crossing at 0.078740. Second resistance is the January 17th high crossing at 0.079190. First support is January's low crossing at 0.074830. Second support is the December 15th low crossing at 0.073210.    



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



April gold closed lower on Monday as it extended the decline off February'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 April extends the decline off February's high, January's low crossing at 1846.10 is the next downside target. Closes above the 20-day moving average crossing at 1919.60 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 1919.60. Second resistance is February's high crossing at $1975.20. First support is the January low crossing at $1846.10. Second support is the 38% retracement level of the November-February rally crossing at $1850.30. 



March silver closed lower on Monday as it extends the decline off February's high. 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends this month's decline, the 50% retracement level of the September-February rally crossing at 21.177 is the next downside target. Closes above the 20-day moving average crossing at 23.232 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at 22.649. Second resistance is the 20-day moving average crossing at 23.231. First support is today's low crossing at 21.785. Second support is the 50% retracement level of the September-February rally crossing at 21.177. 



March copper closed higher on Monday as it extends last-week's trading range. The high-range close sets the stage for a steady to higher opening when Monday'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. Closes below the 50-day moving average crossing at 3.9868 would open the door for additional weakness and a possible test of the 38% retracement level of the September-January rally crossing at 3.9285. Closes above the 20-day moving average crossing at 4.1597 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 4.1597. Second resistance is the January 18th high crossing at 4.3550. First support is the 50-day moving average crossing at 3.9868. Second support is the 38% retracement level of the September-January rally crossing at 3.9285.  



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



March Corn closed up $0.04 1/2-cents at $6.85. 



March corn closed higher on Monday following last-Friday's key reversal up while extending January-February the trading range. 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. If March renews the rally off January's low, the 75% retracement level of the October-December decline crossing at $6.92 1/2 is the next upside target. Closes below last-Friday's low crossing at $6.69 1/4 would signal that a short-term top has been posted. First resistance is the January 18th high crossing at $6.88 3/4. Second resistance is the 75% retracement level of the October-December decline crossing at $6.92 1/2. First support is last-Friday's low crossing at $6.69 1/4. Second support is the 50-day moving average crossing at $6.65 3/4. 



March wheat closed up $0.06-cents at $7.92.  



March wheat closed higher on Monday as it extended the rally off January'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 January's low, the December 30th high crossing at $7.99 is the next upside target. Closes below the 20-day moving average crossing at $7.52 3/4 would temper the near-term bullish outlook. First resistance is today's high crossing at $7.96. Second resistance is the December 30th high crossing at $7.99. First support is the 20-day moving average crossing at $7.52 3/4. Second support is January's low crossing at $7.12 1/2. 



March Kansas City Wheat closed up $0.03 1/4-cents at $9.12 1/4.



March Kansas City wheat closed higher on Monday as it extends the rally off January'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 January's low, the 62% retracement level of the October-January decline crossing at $9.45 is the next upside target. Closes below the 20-day moving average crossing at $8.67 3/4 would signal that a short-term top has been posted. First resistance is the 50% retracement level of the October-January decline crossing at $9.17 3/4. Second resistance is the 62% retracement level of the October-January decline crossing at $9.45. First support 20-day moving average crossing at $8.67 3/4. Second support is the January 23rd low crossing at $8.11.  



March Minneapolis wheat closed up a $0.00 1/2-cent crossing at $9.30 3/4.



March Minneapolis wheat closed fractionally higher on Monday. 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 becoming overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off January's low, the 38% retracement level of the October-January decline crossing at $9.40 1/2 is the next upside target. Closes below the 50-day moving average crossing at $9.15 1/4 would signal that a short-term top has been posted. First resistance is last-Friday's high crossing at $9.35 3/4. Second resistance is the 38% retracement level of the October-January decline crossing at $9.40 1/2. First support is the 50-day moving average crossing at $9.15 1/4. Second support is January's low crossing at $8.85. 

       

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



March soybeans closed up a $0.00 1/4-cents at $15.42 3/4.



March soybeans closed fractionally higher on Monday. Profit taking tempered early-session gains and the low-range close sets the stage for a steady to lower opening when Tuesday's day trade begins. 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 year's rally. last-June's high crossing at $15.72 1/4 is the next upside target. closes below the 50-day moving average crossing at $14.98 3/4 would signal that a short-term top has been posted. First resistance is today's high crossing at $15.55 1/2. Second resistance is last-June's high crossing at $15.72 1/4. First support is the 50-day moving average crossing at $14.98 3/4. Second support is the January 25th low crossing at $14.78 1/4.  



March soybean meal closed up $4.60 at $504.00. 



March soybean meal closed higher on Monday as it extended the rally off last-July's low. 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off January's low, monthly resistance on the continuation chart crossing at $513.90 is the next upside target. Closes below the 20-day moving average crossing at $481.50 would signal that a short-term top has been posted. First resistance is today's high crossing at $508.20. Second resistance is monthly resistance the monthly continuation chart crossing at $513.90. First support is the 20-day moving average crossing at $481.50. Second support is the 50-day moving average crossing at $466.60.



March soybean oil closed down 40-pts. At 60.14. 



March soybean oil closed lower on Monday. The mid-range close sets the stage for a steady to lower opening when Tuesday's day session begins trading. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving a crossing at 61.15 would signal that a short-term low has been posted. If March extends the decline off the December 27th high, the 87% retracement of the July-November-2022 crossing at 56.49 is the next downside target. First resistance is the 20-day moving average crossing at 61.15. Second resistance is the 50-day moving average crossing at 62.39. First support is last-Monday's low crossing at 58.43. Second support is the 87% retracement of the July-November-2022 crossing at 56.49. 

 

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



April hogs closed up $3.10 at $86.43. 



April hogs closed higher on Monday and above the 20-day moving average crossing at $85.35 thereby tempering the near-term bearish outlook. 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 January 27th high crossing at $88.33 would confirm that a short-term low has been posted. If April resumes the decline off December's high, the 75% retracement level of the 2021-2022 rally crossing at $81.15 is the next downside target. First resistance is the January 27th high crossing at $88.33. Second resistance is the 50-day moving average crossing at $89.64. First support is last-Tuesday's low crossing at $81.28. Second support is the 75% retracement level of the 2021-2022 rally crossing at $81.15.  



April cattle closed up $1.20 at $165.15. 



April cattle closed higher on Monday as it extends the rally off September's low. 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 April extends the rally off January's low, the November-2014 on the monthly continuation chart crossing at $171.65 is the next upside target. Closes below the 20-day moving average crossing at $162.26 would signal that a short-term top has been posted. First resistance is today's high crossing at $165.25. Second resistance is the November-2014 on the monthly continuation chart crossing at $171.65. First support is the 10-day moving average crossing at $163.77. Second support is the 20-day moving average crossing at $162.26.    



March Feeder cattle closed up $0.80 at $187.20. 



March Feeder cattle closed higher on Monday. The high-range close sets the stage for a steady to higher opening when Tuesday's day session begins trading. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at $185.01 would signal that a short-term top has been posted. If March extends the rally off January's low, the 87% retracement level of the August-October-2022 decline crossing at $190.38 is the next upside target. First resistance is last-Tuesday's high crossing at $188.58. Second resistance is the 87% retracement level of the August-October-2022 decline crossing at $190.38. First support is the 20-day moving average crossing at $184.41. Second support is February's low crossing at $182.70.       



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



March coffee closed higher on Monday as it extended last-week's trading range. The mid-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are neutral to bearish signaling sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at $16.83 would signal that a short-term top has been posted. If March renews the rally off January's low, the 50% retracement level of the August-January decline crossing at $18.91 is the next upside target. First resistance is February's high crossing at $18.42. Second resistance is the 50% retracement level of the August-January decline crossing at $18.91. First support is the 20-day moving average crossing at $16.83. Second support is the 50-day moving average crossing at $16.52. 



March cocoa closed higher on Monday. 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. Today's close above the 20-day moving average crossing at 25.93 signals that a short-term low has been posted while opening the door for additional gains near-term. Closes below last-Friday's low crossing at 25.30 would confirm that a short-term top has been posted while opening the door for a possible test of January's low crossing at 25.07.                     



March sugar closed lower on Monday, which suggests that last-Friday's high marked a double top with the February 1st high. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are becoming overbought, diverging are are poised to turn neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 20.74 would signal that a short-term top has been posted. If March extends the rally off January's low, monthly resistance crossing at 22.64 is the next upside target.     



March cotton closed slightly higher on Monday as it extends the November-February trading range. Multiple closes below last-Monday's low crossing at 83.07 would open the door for additional weakness near-term. The mid-range close sets the stage for a steady to slightly higher opening on Tuesday. Stochastics and the RSI are neutral signaling that sideways trading is possible near-term. If March resumes last-Monday's decline, January's low crossing at 80.37 is the next downside target. Closes above the November 16th high crossing at 89.92 would mark an upside breakout of the November-February trading range while opening the door for a possible test of the 50% retracement level of the August-October decline crossing at 93.37.       

Comments
By metmike - Feb. 13, 2023, 5:32 p.m.
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Thanks tallpine!


Another bad day for the NG bears with still no signs of any colder weather coming to the East.