KEY EVENTS TO WATCH FOR:
Monday, September 23, 2019
8:30 AM ET. August CFNAI Chicago Fed National Activity Index
NAI (previous -0.36)
NAI, 3-mo Moving Avg (previous 0.14)
9:45 AM ET. September US Flash Manufacturing PMI
PMI, Mfg (previous 49.9)
9:45 AM ET. September US Flash Services PMI
PMI, Services (previous 50.9)
Tuesday, September 24, 2019
7:45 AM ET. The Retail Economist/Goldman Sachs Weekly Chain Store Sales Index
Chain Store Sales, W/W% (previous +0.6%)
Chain Store Sales, M/M% (previous +2.5%)
8:30 AM ET. 2nd Quarter State Quarterly Personal Income
8:55 AM ET. Johnson Redbook Retail Sales Index
Ret Sales Mo-to-Date, M/M% (previous -0.9%)
Ret Sales Mo-to-Date, Y/Y% (previous +5.9%)
Latest Wk, Y/Y% (previous +5.4%)
9:00 AM ET. July S&P CoreLogic Case-Shiller Indices
10-City Idx, M/M% (previous +0.2%)
10-City Idx, Y/Y% (previous +1.8%)
20-City Idx, M/M% (previous +0.3%)
20-City Idx, Y/Y% (previous +2.1%)
National Idx, M/M% (previous +0.6%)
National Idx, Y/Y% (previous +3.1%)
9:00 AM ET. July U.S. Monthly House Price Index
10:00 AM ET. September Consumer Confidence Index
Cons Conf Idx (previous 135.1)
Expectation Idx (previous 107)
Present Situation Idx (previous 177.2)
10:00 AM ET. September Richmond Fed Business Activity Survey
Mfg Idx (previous 1)
Shipments Idx (previous 5)
4:30 PM ET. API Weekly Statistical Bulletin
Crude Stocks, Net Chg (Bbls) (previous +0.6M)
Gasoline Stocks, Net Chg (Bbls) (previous +1.6M)
Distillate Stocks, Net Chg (Bbls) (previous +2.0M)
Wednesday, September 25, 2019
7:00 AM ET. MBA Weekly Mortgage Applications Survey
Composite Idx (previous 569.5)
Composite Idx, W/W% (previous -0.1%)
Purchase Idx-SA (previous 269.7)
Purchase Idx-SA, W/W% (previous +6.4%)
Refinance Idx (previous 2274.1)
Refinance Idx, W/W% (previous -4.3%)
10:00 AM ET. August New Residential Sales
New Home Sales (previous 635K)
New Home Sales, M/M% (previous -12.8%)
New Home Sales Months Supply (previous 6.4)
10:30 AM ET. EIA Weekly Petroleum Status Report
Crude Oil Stocks (Bbl) (previous 417.126M)
Crude Oil Stocks, Net Chg (Bbl) (previous +1.058M)
Gasoline Stocks (Bbl) (previous 229.685M)
Gasoline Stocks, Net Chg (Bbl) (previous +0.781M)
Distillate Stocks (Bbl) (previous 136.663M)
Distillate Stocks, Net Chg (Bbl) (previous +0.437M)
Refinery Usage (previous 91.2%)
Total Prod Supplied (Bbl/day) (previous 20.262M)
Total Prod Supplied, Net Chg (Bbl/day) (previous -1.178M)
Thursday, September 26, 2019
8:30 AM ET. 2nd Quarter Revised Corporate Profits
8:30 AM ET. 2nd Quarter 3rd estimate GDP
Annual Rate, Q/Q% (previous +2.0%)
Chain-Weighted Price Idx, Q/Q% (previous +2.4%)
Corporate Profits, Q/Q% (previous +4.8%)
PCE Price Idx, Q/Q% (previous +2.3%)
Purchase Price Idx, Q/Q% (previous +2.2%)
Real Final Sales, Q/Q% (previous +3.0%)
Core PCE Price Idx, Ex (previous +1.7%)
Food/Energy, Q/Q%
Personal Consumption, Q/Q% (previous +4.7%)
8:30 AM ET. August Advance Economic Indicators Report
8:30 AM ET. Unemployment Insurance Weekly Claims Report - Initial Claims
Jobless Claims (previous 208K)
Jobless Claims, Net Chg (previous +2K)
Continuing Claims (previous 1661000)
Continuing Claims, Net Chg (previous -13K)
8:30 AM ET. U.S. Weekly Export Sales
Corn (Metric Tons) (previous 1529.5K)
Soybeans (Metric Tons) (previous 1728.1K)
Wheat (Metric Tons) (previous 286.6K)
9:45 AM ET. Bloomberg Consumer Comfort Index
10:00 AM ET. August Pending Home Sales Index
Pending Home Sales (previous 105.6)
Pending Home Sales Idx, M/M% (previous -2.5%)
Pending Home Sales Idx , Y/Y% (previous -0.3%)
10:30 AM ET. EIA Weekly Natural Gas Storage Report
Working Gas In Storage (Cbf) (previous 3103B)
Working Gas In Storage, Net Chg (Cbf) (previous +84B)
11:00 AM ET. Sept. Federal Reserve Bank of Kansas City Survey of Tenth District Manufacturing
Mfg Activity Idx (previous -2)
6-Mo Exp Prod Idx (previous 23)
Mfg Composite Idx (previous -6)
6-Mo Exp Composite Idx (previous 11)
4:30 PM ET. Federal Discount Window Borrowings
4:30 PM ET. Foreign Central Bank Holdings
4:30 PM ET. Money Stock Measures
Friday, September 27, 2019
8:30 AM ET. August Personal Income & Outlays
Personal Income, M/M% (previous +0.1%)
Consumer Spending, M/M% (previous +0.6%)
PCE Price Idx, M/M% (previous +0.2%)
PCE Price Idx, Y/Y% (previous +1.4%)
PCE Core Price Idx, M/M% (previous +0.2%)
PCE Core Price Idx, Y/Y% (previous +1.6%)
8:30 AM ET. August Advance Report on Durable Goods
Durable Goods-SA, M/M% (previous +2.1%)
Dur Goods, Ex-Defense, M/M% (previous +1.4%)
Dur Goods, Ex-Transport, M/M% (previous -0.4%)
Orders: Cap Gds, Non-Def, Ex-Air, M/M% (previous +0.4%)
Shipmnts: Cap Gds, Non-Def, Ex-Air, M/M% (previous -0.7%)
10:00 AM ET. September University of Michigan Survey of Consumers – final
End-Mo Sentiment Idx (previous 89.8)
End-Mo Expectations Idx (previous 79.9)
12-Month Inflation Forecast (previous 2.7%)
5-Year Inflation Forecast (previous 2.6%)
End-Mo Current Idx (previous 105.3)
3:00 PM ET. September Agricultural Prices
Farm Prices, M/M% (previous -2.9%)
The STOCK INDEXES? http://quotes.ino.com/ex?changes/?c=indexes ""
The December NASDAQ 100 closed lower on Friday.The low-range close sets the stage for a steady to lower opening when Monday'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 7788.99 would confirm that a short-term top has been posted. If December resumes the rally off the August 26th low, July's high crossing at 8071.75 is the next upside target. First resistance is last-Thursday's high crossing at 8002.50. Second resistance is July's high crossing at 8071.75. First support is the 20-day moving average crossing at 7788.99. Second support is the August 26th low crossing at 7390.00.
The December S&P 500 closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday'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 resumes the rally off August's low, July's high crossing at 3027.50 is the next upside target. Closes below the 20-day moving average crossing at 2958.59 are needed to confirm that a short-term top has been posted. First resistance is last-Friday's high crossing at 3025.30. Second resistance is July's high crossing at 3027.50. First support is Wednesday's low crossing at 2981.00. Second support is the 20-day moving average crossing at 2958.59.
The Dow closed lower on Friday as investors looked beyond a litany of central-bank decisions of the past week and focused on the state of China-U.S. trade talks. Today's decline was due to a sell off by the technology sector and consumer discretionary shares after a report that a Chinese delegation had canceled plans to visit farms in Montana as a part of its negotiations with the U.S. delegation. The low-range close sets the stage for a steady to lower opening when Monday'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 resumes the rally off August's low, July's high crossing at 27,398.68. Closes below the 20-day moving average crossing at 26,642.26 are needed to confirm that a short-term top has been posted. First resistance is last-Thursday's high crossing at 27,306.73. Second resistance is July's high crossing at 27,398.68. First support is the 20-day moving average crossing at 26,642.26. Second support is the September 3rd low crossing at 25,978.22.
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December T-bonds closed up 1-02/32's at 161-18.
December T-bonds closed higher for the fifth-day in a row on Friday as it extended the rally off last-Friday's low. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 162-22 are needed to confirm that a short-term top has been posted. If December resumes the decline off September's high, the 50% retracement level of the 2018-2019 rally crossing at 155-27 is the next downside target. First resistance is the 20-day moving average crossing at 162-22. Second resistance is August's high crossing at 166-25. First support is last-Friday's low crossing at 157-18. Second support is the 50% retracement level of the 2018-2019 rally crossing at 155-27.
December T-notes closed up 105-pts. At 129.300.
December T-notes closed higher on Friday as it extends the rally off last-Friday's low. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 130.211 are needed to confirm that a short-term low has been posted. If December resumes the decline off September's high, the 50% retracement level of the March-September rally crossing at 127.171. First resistance is the 50-day moving average crossing at 129.270. Second resistance is the 20-day moving average crossing at 130.211. First support is last-Friday's low crossing at 128.190. Second support is the 50% retracement level of the March-September rally crossing at 127.171.
ENERGY MARKETS? http://quotes.ino.com/ex?changes/?c=energy ""
October crude oil closed slightly lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday'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 54.00 are needed to confirm that a short-term top has been posted. If October resumes the rally off August's low, April's high crossing at 65.62 is the next upside target. First resistance is Monday's high crossing at 63.38. Second resistance is the April's high crossing at 65.62. First support last-Thursday's low crossing at 54.00. Second support is August's low crossing at 50.50.
October heating oil closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday's night trading session begins. Stochastics and the RSI are neutral signaling that sideways to lower prices are possible near-term. Closes below last-Thursday's low crossing at 185.13 would confirm that a short-term top has been posted. If October extends the rally off August's low, May's high crossing at 214.81 is the next upside target. First resistance is Tuesday's high crossing at 209.99. Second resistance is the May's high crossing at 214.81. First support is last-Thursday's low crossing at 185.13. Second support is September's low crossing at 177.70.
October unleaded gas closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If October extends the rally off September, July's high crossing at 179.62 is the next upside target. Closes below last-Thursday's low crossing at 151.56 would confirm that a short-term top has been posted. First resistance is July's high crossing at 179.62. Second resistance is May's high crossing at 182.13. First support is last-Thursday's low crossing at 151.56. Second support is September's low crossing at 144.75.
October Henry natural gas closed lower on Friday as it extended the decline off Tuesday's high. The low-range close sets the stage for a steady to lower opening when Monday'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 2.454 would confirm that a short-term top has been posted. If October resumes the rally off August's low, the 75% retracement level of the March-August decline crossing at 2.763 is the next upside target. First resistance is Tuesday's high crossing at 2.710. Second resistance is the 75% retracement level of the March-August decline crossing near 2.763. First support is the 20-day moving average crossing at 2.454. Second support is the 50-day moving average crossing at 2.311.
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The December Dollar closed higher on Friday while extending that trading range of the past three-weeks. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below last-Friday's low crossing at 97.56 would confirm that a short-term top has been posted. If December renews the rally off June's low, weekly resistance crossing at 99.90 is the next upside target. First resistance is September's high crossing at 98.90. Second resistance is weekly resistance crossing at 99.90. First support is last-Friday's low crossing at 97.56. Second support is the 50-day moving average crossing at 97.46.
The December Euro closed lower on Friday while extending the trading range of the past three-weeks. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes above last-Friday's high crossing at 111.84 are needed to confirm that a short-term low has been posted. If December resumes the decline off August's high, weekly support crossing at 109.21 is the next downside target. First resistance is last-Friday's crossing at 114.84. Second resistance is the 50-day moving average crossing at 112.16. First support is last-Thursday's low crossing at 110.02. Second support is monthly support crossing at 109.21.
The December British Pound posted a downside reversal on Friday due to profit taking after spiking above the 38% retracement level of the February-September decline crossing at 1.2592. The low-range close sets the stage for a steady to lower opening when Monday'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 50% retracement level of the February-September decline crossing at 1.2776 is the next upside target. Closes below the 20-day moving average crossing at 1.2376 would temper the near-term friendly outlook. First resistance is the 38% retracement level of the February-September decline crossing at 1.2592. Second resistance is the 50% retracement level of the February-September decline crossing at 1.2776. First support is the 20-day moving average crossing at 1.2376. Second support is September's low crossing at 1.2008.
The December Swiss Franc closed higher on Friday following Thursday's key reversal up as it rebounds off the 75% retracement level of the May-August-rally crossing at 1.0114. The mid-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are oversold but are turning neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 1.0209 would confirm that a short-term low has been posted. If December extends the decline off August's high, the 87% retracement level of the May-August-rally crossing at 1.0059 is the next downside target. First resistance the 20-day moving average crossing at 1.0209. Second resistance is September's high crossing at 1.0298. First support is Thursday's low crossing at 1.0090. Second support is the 87% retracement level of the May-August-rally crossing at 1.0059.
The December Canadian Dollar closed lower on Friday.The mid-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off September's high, September's low crossing at 74.84 is the next downside target. Closes above the 50-day moving average crossing at 75.79 would temper the near-term bearish outlook. First resistance is September's high crossing at 76.23. Second resistance is the July 31st reaction high crossing at 76.37. First support is Wednesday's low crossing at 75.22. Second support is September's low crossing at 74.84.
The December Japanese Yen closed higher due to short covering on Friday as it consolidates some of the decline off July's high. The high-range close sets the stage for a steady to higher opening when Monday’s night session begins trading. Stochastics and the RSI are oversold but are turning neutral to bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing at 0.0940 are needed to confirm that a short-term low has been posted. If December extends the aforementioned decline, August's low crossing at 0.0918 is the next downside target. First resistance is the 20-day moving average crossing at 0.0940. Second resistance is September's high crossing at 0.0952. First support is Thursday's low crossing 0.0927. Second support is August's low crossing at 0.0924.
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October gold 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 Monday'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 October renews the rally off May's low, the 62% retracement level of the 2011-2015-decline on the weekly continuation chart crossing at 1588.20 is the next upside target. Closes below the 50-day moving average crossing at 1486.00 would open the door for additional weakness near-term. First resistance is September's high crossing at 1559.80. Second resistance is the 62% retracement level of the 2011-2015-decline on the weekly continuation chart crossing at 1588.20. First support is the 50-day moving average crossing at 1486.00. Second support is August's low crossing at 1406.40.
December silver closed higher on Friday as it extends this week's trading range. The high-range close set the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off September's high, the 50-day moving average crossing at 17.303 is the next downside target. Closes above the 20-day moving average crossing at 18.236 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 18.236. Second resistance is September's high crossing at 19.750. First support is last-Friday's low crossing at 17.470. Second support is the 50-day moving average crossing at 17.303.
December copper closed lower on Friday and below the 20-day moving average crossing at 260.06 would confirm that a short-term top has been posted. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends today's decline, September's low crossing at 248.20 is the next downside target. If December resumes the rally off September's low, the reaction high crossing at 273.20 is the next upside target. First resistance is Monday's high crossing at 270.65. Second resistance is the reaction high crossing at 273.20. First support is today's low crossing at 258.60. Second support is September's low crossing at 248.20.
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December Corn closed down 1 3/4-cents at 3.71.
December corn closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday's night sessions 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 August 29th reaction high crossing at 3.77 would mark a close above the previous reaction high thereby signaling that the short-term trend has turned neutral to bullish and at the same time opening the door for a possible test of the 50-day moving average crossing at 3.92 3/4. If December resumes the decline off July's high, psychological support crossing at 3.50 is the next downside target. First resistance is the August 29th reaction high crossing at 3.77. Second resistance is the 50-day moving average crossing at 3.92 3/4. First support is September's low crossing at 3.52 1/4. Second support is psychological support crossing at 3.50.
December wheat closed down 3 1/4-cents at 4.84 3/4.
December wheat closed lower on Friday as it consolidated some of the rally off September's low. The low-range close sets the stage for a steady to lower opening when Monday'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. Multiple closes above the 50-day moving average crossing at 4.87 1/4 would open the door for a possible test of the reaction high crossing at 5.06 1/4 in the near-future. Closes below the 20-day moving average crossing at 4.76 would temper the near-term friendly outlook. First resistance is Wednesday's high crossing at 4.92 1/2. Second resistance is the reaction high crossing at 5.06 1/4. First support is the 20-day moving average crossing at 4.76. Second support is September's low crossing at 4.50 1/2.
December Kansas City Wheat closed down 2-cents at 4.07 1/2.
December Kansas City wheat closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday 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 50-day moving average crossing at 4.22 is the next upside target. If December renews the decline off June's high, weekly support crossing at 3.74 1/4 is the next downside target. First resistance is Thursday's high crossing at 4.14. Second resistance is the 50-day moving average crossing at 4.22. First support is September's low crossing at 3.81. Second support is weekly support crossing at 3.74 1/4.
December Minneapolis wheat closed up 4-cents at 5.24 1/4.
December Minneapolis wheat closed higher on Friday as it extends the rally off September's low. A sell off ahead of the close tempered some of today's gains and the mid-range close sets the stage for a steady to lower opening when Monday'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. Today's close above the 50-day moving average crossing at 5.21 opens the door for a possible test of the 50% retracement level of the June-September decline crossing at 5.39 1/4. Closes below the 20-day moving average crossing at 5.05 1/4 would confirm that a short-term top has been posted. First resistance is today's high crossing at 5.34 3/4. Second resistance is the 50% retracement level of the June-September decline crossing at 5.39 1/4. First support is the 20-day moving average crossing at 5.05 1/4. Second support is September's low crossing at 4.86 1/2.
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November soybeans closed down 10 3/4-cents at 8.82 1/4.
November soybeans closed lower on Friday following news that trade talks with the Chinese once again have turned sour. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 8.74 1/2 are needed to confirm that a short-term top has been posted. If November resumes the rally off September's low, the reaction high crossing at 9.24 is the next upside target. First resistance is Monday's high crossing at 9.04 3/4. Second resistance is the reaction high crossing at 9.24. First support is the 20-day moving average crossing at 8.74 1/2. Second support is the 75% retracement level of the May-June-rally crossing at 8.48 1/2.
December soybean meal closed down $1.40 at 294.70.
December soybean meal closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If December renews the decline off June's high, May's low crossing at 291.60 is the next downside target. Closes above the 50-day moving average crossing at 302.40 are needed to confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 302.40. Second resistance is the reaction high crossing at 306.30. First support is September's low crossing at 292.00. Second support is May's low crossing at 291.60.
December soybean oil closed down 57-pt. at 29.40.
December soybean oil closed lower on Friday as it consolidated some of the rally off September's low. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the 50-day moving average crossing at 28.92 would confirm that a short-term top has been posted. If December renews the rally off September's low, the 75% retracement level of the February-May decline crossing at 30.79 is the next upside target. First resistance is Tuesday's high crossing at 30.41. Second resistance is the 75% retracement level of the February-May-decline crossing at 30.79. First support is the 10-day moving average crossing at 29.40. Second support is the 50-day moving average crossing at 28.92.
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October hogs closed down $1.05 at $60.35.
October hogs closed lower on Friday as it extends the trading range off August's low. The low-range close sets the stage for a steady opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If October renews the decline off July's high, last-July's low crossing at 58.20 is the next downside target. If October resumes the rally off August's low, the 50-day moving average crossing at 67.83 is the next upside target. First resistance is the 50-day moving average crossing at 67.83. Second resistance is August's high crossing at 70.83. First support is August's low crossing at 59.30. Second support the July-2018 low crossing at 58.20.
October cattle closed down $0.45 at 99.35.
October cattle closed lower on Friday. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If October extends the rally off September's low, the 50-day moving average crossing at 102.97 is the next upside target. Closes below the 10-day moving average crossing at 98.25 would temper the near-term friendly outlook. First resistance is the reaction high crossing at 101.68. Second resistance is the 50-day moving average crossing at 102.97. First support is September's low crossing at 93.40. Second support is weekly support crossing at 83.42.
October Feeder cattle closed up $0.28 at $139.20.
October Feeder cattle closed higher on Friday as it extends the rally off September's low. The high-range close sets the stage for a steady to higher opening when Monday'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. If October extends the rally off September's low, the reaction high crossing at 140.30 is the next upside target. Closes below the 20-day moving average crossing at 133.72 would signal that a short-term top has been posted. First resistance is the reaction high crossing at 140.30. Second resistance is July's high crossing at 144.43. First support is September's low crossing at 127.95. Second support is August's low crossing at 127.32.
FOOD & FIBERhttp://quotes.ino.com/ex changes/?c=food
December coffee closed lower on Friday as it extends the decline off Monday's high. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI have turned neutral to bearish signaling that a short-term top might be in or is near. Today's close below the 20-day moving average crossing at 9.87 confirming that a short-term top has been posted. If December resumes the rally off August's low, the 50% retracement level of the July-August-decline crossing at 10.64 is the next upside target.
December cocoa closed higher on Friday as it extends the rally off August's low. The high-range close sets the stage for a steady to higher opening on Monday. 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 August's low, the 75% retracement level of the July-August decline crossing at 24.96 is the next upside target. Closes below the 20-day moving average crossing at 23.03 would confirm that a short-term top has been posted.
October sugar closed higher on Friday. The high-range close set the stage for a steady to higher opening on Monday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Multiple closes above the 20-day moving average crossing at 11.07 would confirm that a low has been posted. If October resumes the decline off June's high, weekly support crossing at 10.12 is the next downside target.
December cotton closed slightly higher on Friday. The mid-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 59.58 would temper the near-term friendly outlook. If December resumes the rally off August's low, the 38% retracement level of the April-August-decline crossing at 64.62 is the next upside target.