KEY EVENTS TO WATCH FOR:
Tuesday, October 13, 2020
6:00 AM ET. September NFIB Index of Small Business Optimism
Small Business Idx (expected 101.4; previous 100.2)
7:45 AM ET. Weekly Chain Store Sales Index
8:30 AM ET. IMF World Economic Outlook published
8:30 AM ET. September Real Earnings
8:30 AM ET. September CPI
CPI, M/M% (expected +0.2%; previous +0.4%)
Core CPI, M/M% (expected +0.2%; previous +0.4%)
Energy Idx, M/M% (previous +0.9%)
Food Idx, M/M% (previous +0.1%)
Real Avg Wkly Pay-Infla Adj, M/M% (previous +0.3%)
CPI, Y/Y% (expected +1.4%; previous +1.3%)
Core Annual, Y/Y% (expected +1.8%; previous +1.7%)
8:55 AM ET. Johnson Redbook Retail Sales Index
Ret Sales Mo-to-Date, M/M% (previous +0.0%)
Ret Sales Mo-to-Date, Y/Y% (previous +0.9%)
Latest Wk, Y/Y% (previous +2.1%)
Wednesday, October 14, 2020
7:00 AM ET. MBA Weekly Mortgage Applications Survey
Composite Idx (previous 804.7)
Composite Idx, W/W% (previous +6.8%)
Purchase Idx-SA (previous 320.9)
Purchase Idx-SA, W/W% (previous +3.4%)
Refinance Idx (previous 3579.8)
Refinance Idx, W/W% (previous +8.2%)
8:00 AM ET. IMF Fiscal Monitor published
8:30 AM ET. September PPI
PPI, M/M% (expected +0.2%; previous +0.3%)
Ex-Food & Energy PPI, M/M% (expected +0.2%; previous +0.4%)
Personal Consumption (previous +0.3%)
4:30 PM ET. API Weekly Statistical Bulletin
Crude Stocks, Net Chg (Bbls) (previous +1.0M)
Gasoline Stocks, Net Chg (Bbls) (previous -0.9M)
Distillate Stocks, Net Chg (Bbls) (previous -1.0M)
Thursday, October 15, 2020
5:30 AM ET. IMF and World Bank Annual Meetings plenary session
8:30 AM ET. October Empire State Manufacturing Survey
Mfg Idx (expected 12.0; previous 17.0)
Employment Idx (previous 2.6)
New Orders Idx (previous 7.1)
Prices Received (previous 6.5)
8:30 AM ET. October Philadelphia Fed Business Outlook Survey
Business Activity (Expected 14.0; previous 15.0)
Prices Paid (previous 25.1)
Employment (previous 15.7)
New Orders (previous 25.5)
Prices Received (previous 18.4)
Delivery Times (previous 12.2)
Inventories (previous -10.8)
Shipments (previous 36.6)
8:30 AM ET. Unemployment Insurance Weekly Claims Report - Initial Claims
Jobless Claims (expected 830K; previous 840K)
Jobless Claims, Net Chg (previous -9K)
Continuing Claims (previous 10976000)
Continuing Claims, Net Chg (previous -1003K)
8:30 AM ET. September Import & Export Price Indexes
Import Prices (expected +0.1%; previous +0.9%)
Non-Petroleum Prices (previous +0.7%)
Petroleum Prices (previous +2.9%)
9:45 AM ET. Bloomberg Consumer Comfort Index
10:30 AM ET. EIA Weekly Natural Gas Storage Report
Working Gas In Storage (Cbf) (previous 3831B)
Working Gas In Storage, Net Chg (Cbf) (previous +75B)
11:00 AM ET. EIA Weekly Petroleum Status Report
Crude Oil Stocks (Bbl) (previous 492.927M)
Crude Oil Stocks, Net Chg (Bbl) (previous +0.501M)
Gasoline Stocks (Bbl) (previous 226.747M)
Gasoline Stocks, Net Chg (Bbl) (previous -1.435M)
Distillate Stocks (Bbl) (previous 171.796M)
Distillate Stocks, Net Chg (Bbl) (previous -0.962M)
Refinery Usage (previous 77.1%)
Total Prod Supplied (Bbl/day) (previous 18.345M)
Total Prod Supplied, Net Chg (Bbl/day) (previous +0.898M)
4:30 PM ET. Federal Discount Window Borrowings
4:30 PM ET. Money Stock Measures
4:30 PM ET. Foreign Central Bank Holdings
Friday, October 16, 2020
8:30 AM ET. September Advance Monthly Sales for Retail & Food Services
Overall Sales-SA, M/M% (expected +0.7%; previous +0.6%)
Sales, Ex-Auto, M/M% (expected +0.3%; previous +0.7%)
Sales, Ex-Auto & Gas, M/M% (previous +0.7%)
8:30 AM ET. U.S. Weekly Export Sales
Corn (Metric Tons) (previous 1225.7K)
Soybeans (Metric Tons) (previous 2590.7K)
Wheat (Metric Tons) (previous 568K)
9:15 AM ET. September Industrial Production & Capacity Utilization
Industrial Production, M/M% (expected +0.5%; previous +0.4%)
Capacity Utilization % (expected 71.8%; previous 71.4%)
Capacity Utilization, Net Chg (Pts) (previous +0.3)
10:00 AM ET. August Manufacturing & Trade: Inventories & Sales
Total Inventories (expected +0.4%; previous +0.1%)
10:00 AM ET. October University of Michigan Survey of Consumers – preliminary
Mid-Mo Sentiment (expected 80.4; previous 78.9)
Mid-Mo Expectations (previous 73.3)
Mid-Mo Current Idx (previous 87.5)
4:00 PM ET. August Treasury International Capital Data
The STOCK INDEXES? http://quotes.ino.com/ex?changes/?c=indexes
The Dow closed higher on Monday led by a rally in some of the world’s largest technology companies. The mid-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices remain possible near-term. If the Dow extends the rally off September's low, September's high crossing at 29,199.35 is the next upside target. Closes below the 20-day moving average crossing at 27,761.55 would signal that a short-term top has been posted. First resistance is today's high crossing at 28,957.90. Second resistance is September's high crossing at 29,199.35. First support is the 20-day moving average crossing at 27,761.55. Second support is the 25% retracement level of the March-September-rally crossing at 26,464.30.
The December NASDAQ 100 closed sharply higher on Monday as it extends the rally off September's low due to a sharp rally in tech stocks. 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 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, September's high crossing at 12,465.25 is the next upside target. Closes below the 20-day moving average crossing at 10,310.23 would confirm that a short-term top has been posted. First resistance is today's high crossing at 12,197.00. Second resistance is September's high crossing at 12,465.25. First support is the 20-day moving average crossing at 10,310.23. Second support is September's low crossing at 10,656.50.
The December S&P 500 rallied to a six-week high on Monday. The tech-heavy gauge is on track to post its largest gain since April led by Amazon.com Inc.and Apple leading the rally ahead of key events. 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 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, September's high crossing at 3516.60 is the next upside target. Closes below the 20-day moving average crossing at 3353.75 would confirm that a short-term top has been posted. First resistance is today's high crossing at 3498.10. Second resistance is September's high crossing at 3516.60. First support is the 10-day moving average crossing at 3395.44. Second support is September's low crossing at 3210.70.
INTEREST RATES? http://quotes.ino.com/ex?changes/?c=interest ""
December T-bonds closed up 12/32's at 174-13.
December T-bonds closed higher on Monday. 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 oversold but are turning neutral to bullish signaling that a low might be in or is near. Multiple closes above the 50-day moving average crossing at 176-21 are needed to confirm that a short-term low has been posted. If December extends the decline off September's high, June's low crossing at 171-16 is the next downside target.First resistance is the 10-day moving average crossing at 174-30. Second resistance is the 20-day moving average crossing at 175-24. First support is last-Wednesday's low crossing at 173-10. Second support is the June 5th low crossing at 171-16.
December T-notes closed up 35-pts. at 138.300.
December T-notes closed higher on Monday. 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 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 August 28th low crossing at 138.185 is the next downside target. Closes above the 50-day moving average crossing at 139.120 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at 139.039. Second resistance is the 50-day moving average crossing at 139.120. First support is the August 28th low crossing at 138.185. Second support is the June 5th low crossing at 137.025.
ENERGY MARKETS? http://quotes.ino.com/ex?changes/?c=energy ""
November crude oil closed lower on Monday as supply concerns over the recent hurricane. Additional downside pressure was due to news that Libya and Norway output is expected to rise. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins. Stochastics and the RSI are turning neutral to bearish signaling that a double top with the September 18th high might have been posted with last-Friday's high. If November renews the decline off August's high, the June 12th low crossing at $35.54 is the next downside target. Closes above the September 18th high crossing at $41.72 would open the door for additional gains near-term. First resistance is the September 18th high crossing at $41.72. Second resistance is August's high crossing at $43.78. First support is September's low crossing at $36.58. Second support is the June 12th low crossing at $35.54.
November heating oil closed sharply lower on Monday as it consolidated some of the rally off October's low. The low-range close sets the stage for a steady to lower opening when Tuesday's night trading session begins. Stochastics and the RSI are overbought and are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at $114.07 would signal that a short-term top has been posted. Closes above the 50-day moving average crossing at $120.06 would open the door for additional gains off October's low. First resistance is the 50-day moving average crossing at $120.06. Second resistance is the August 31st high crossing at $127.80. First support is the 62% retracement level of the April-August-rally crossing at $108.97. Second support is the 75% retracement level of the April-August-rally crossing at $103.63.
November unleaded gas closed lower on Monday as supply concerns over the recent hurricane have eased while at the same time extending the June-October trading range. The low-range close sets the stage for a steady to lower opening when Tuesday'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 below the 50-day moving average crossing at 116.98 would signal that a short-term top has been posted. If November extends the rally off September's low, the 62% retracement level of the January-April-decline crossing at 128.26 is the next upside target. First resistance is last-Tuesday's high crossing at 123.53. Second resistance is the 62% retracement level of the January-April-decline crossing at 128.26. First support is October's low crossing at 109.58. Second support is September's low crossing at 106.60.
November Henry natural gas gapped up and closed higher on Monday as it extended the rally off October's low. Profit taking tempered early-session gains and the low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If November extends the rally off October's low, September's high crossing at 3.002 is the next upside target. First resistance is today's high crossing at 2.955. Second resistance is September's high crossing at 3.002. First support is the 10-day moving average crossing at 2.593. Second support is the 75% retracement level of the June-September-rally crossing at 2.348.
CURRENCIES? http://quotes.ino.com/ex?changes/?c=currencies ""
The December Dollar posted an inside day with a slightly higher close on Monday but remains below the 50-day moving average crossing at 93.28. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off September's high, the September 10th low crossing at 92.68 is the next downside target. Closes above the 20-day moving average crossing at 93.69 would signal that a short-term low has been posted. First resistance is the 25% retracement level of the March-September-decline crossing at 94.72. Second resistance is the 38% retracement level of the March-September-decline crossing at 96.33. First support is the September 10th low crossing at 92.68. Second support is September's low crossing at 91.75.
The December Euro posted an inside day with a lower close on Monday as it consolidates some of the rally off September's low. The mid-range close sets the stage for a steady opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Multiple close above the 50-day moving average crossing at 118.54 are needed to confirm that a short-term low has been posted. If December renews the decline off September's high, the 38% retracement level of the March-September-rally crossing at 115.42 is the next downside target. First resistance is September's high crossing at 120.38. Second resistance is the 50% retracement level of the 2018-2020 decline crossing at 121.47. First support is September's low crossing at 116.30. Second support is the 38% retracement level of the March-September-rally crossing at 115.42.
The December British Pound 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 when Tuesday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the aforementioned rally, the August 6th high crossing at 1.3191 is the next upside target. Closes below the 20-day moving average crossing at 1.2984 would signal that a short-term top has been posted. First resistance is today's high crossing at 1.3086. Second resistance is the August 6th high crossing at 1.3191. First support is the 20-day moving average crossing at 1.2984. Second support is September's low crossing at 1.2679. Third support is the 50% retracement level of the March-September rally crossing at 1.2502.
The December Swiss Franc closed slightly 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 when Tuesday's night 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 December extends the rally off September's low, the September 10th high crossing at 1.1081 is the next upside target. Closes below last-Thursday's low crossing at 1.0891 would signal that a short-term top has been posted. First resistance is the September 10th high crossing at 1.1081. Second resistance is August's high crossing at 1.1138. First support is September's low crossing at 1.0781. Second support is the 38% retracement level of the March-August-rally crossing at 1.0789.
The December Canadian Dollar closed slightly 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 when Tuesday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the aforementioned rally, September's high crossing at 76.97 is the next upside target. Closes below the 20- day moving average crossing at 75.37 would signal that a short-term top has been posted. First resistance is today's high crossing at 76.34. Second resistance is September's high crossing at 76.97. First support is last-Wednesday's low crossing at 74.96. Second support is September's low crossing at 74.53. Third support is the 38% retracement level of the March-September-rally crossing at 73.72.
The December Japanese Yen closed higher on Monday. The high-range close sets the stage for a steady to higher opening when Tuesday’s night 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 average crossing at 0.0950 would signal that a short-term low has been posted. If December renews the decline off September's high, September's low crossing at 0.0940 is the next downside target. First resistance is October's high crossing at 0.0954. Second resistance is September's high crossing at 0.0963. First support is September's low crossing at 0.0940. Second support is August's low crossing at 0.0936.
PRECIOUS METALS? http://quotes.ino.com/ex?changes/?c=metals ""
December gold closed higher on Monday as uncertainty surrounding the U.S. presidential election along with expectations for an eventual agreement on a COVID-19 stimulus package led to a three-week high rally. At the same time gains in world equity markets appeared to have limiting today's gains. 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 neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at $1946.80 would confirm that a short-term low has been posted. If December renews the decline off August's high, the 38% retracement level of the March-August-rally crossing at $1771.40 is the next downside target. First resistance is the 50-day moving average crossing at $1946.80. Second resistance is the September 16th high crossing at $1983.80. First support is last-Wednesday's low crossing at $1877.10. Second support is the September 24th low crossing at $1851.00.
December silver closed higher on Monday as it extends the rally off September's low. The mid-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off September's low, the 50-day moving average crossing at 26.222 is the next upside target. Closes below last-Tuesday's low crossing at 22.965 would signal that a short-term top has been posted. First resistance is the 50-day moving average crossing at 26.222. Second resistance is the September 15th high crossing at 27.865. First support is September's low crossing at 21.810. Second support is the 50% retracement level of the March-August-rally crossing at 20.953.
December copper closed lower on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday'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 renewed the rally off March's low, the 87% retracement level of the 2018-2020 decline crossing at 323.02 is the next upside target. Closes below the 50-day moving average crossing at 298.68 would signal that a short-term top has been posted. First resistance is September's high crossing at 312.10. Second resistance is the 87% retracement level of the 2018-2020 decline crossing at 323.02. First support is October's low crossing at 283.45. Second support is August's low crossing at 279.60.
GRAINS? http://quotes.ino.com/ex?changes/?c=grains "
December Corn closed down 6-cents at $3.88 1/2.
December corn closed lower on Monday due to profit taking after the market failed to extend gains above the 75% retracement level of the 2019-2020-decline crossing at $3.98. The low-range close sets the stage for a steady to lower opening when Tuesday'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. If December extends the rally off August's low, the 87% retracement level of the 2019-2020-decline crossing at $4.10 1/2 is the next upside target. Closes below the 20-day moving average crossing at $3.76 1/4 would confirm that a short-term top has been posted. First resistance is the 75% retracement level of the 2019-2020-decline crossing at $3.98. Second resistance is the 87% retracement level of the 2019-2020-decline crossing at $4.10 1/2 is the next upside target. First support is the 10-day moving average crossing at $3.82 3/4. Second support is the 20-day moving average crossing at $3.76 1/4.
December wheat closed up $0.02 3/4-cents at $5.96 1/2.
December wheat closed higher on Tuesday.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 bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at $5.67 3/4 would confirm that a short-term top has been posted. If December extends the rally off June's low, the October-2018 high crossing at $6.21 is the next upside target. First resistance is last-Thursday's high crossing at $6.16 3/4. Second resistance is the October-2018 high crossing at $6.21. First support is the 10-day moving average crossing at $5.83 3/4. Second support is the 20-day moving average crossing at $5.67 3/4.
December Kansas City Wheat closed down $0.03 1/4-cents at $5.32 1/4.
December Kansas City wheat posted an inside day with a lower close on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday'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 20-day moving average crossing at $5.02 would confirm that a short-term top has been posted. If December extends the rally off August's low, the 75% retracement level of the 2018-2020-decline crossing at $5.79 3/4 is the next upside target. First resistance is the 62% retracement level of the 2018-2020-decline crossing at $5.51 3/4. Second resistance is the 75% retracement level of the 2018-2020-decline crossing at $5.79 3/4. First support is the 10-day moving average crossing at $5.20. Second support is the 20-day moving average crossing at $5.02.
December Minneapolis wheat closed down $0.01-cent at $5.42 3/4.
December Minneapolis wheat closed lower on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bearish hinting that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at crossing at $5.36 1/2 would signal that a double top with September's high has been posted. If December extends the rally off August's low, the April 4th high crossing at $5.67 is the next upside target. First resistance is last-Thursday's high crossing at $5.54 3/4. Second resistance is the April 4th high crossing at $5.67. First support is the 20-day moving average crossing at crossing at $5.36 1/2. Second support is September's low crossing at $5.22 1/2.
SOYBEAN COMPLEX? http://quotes.ino.com/ex?changes/?c=grains "
November soybeans closed down $0.31 1/2-cents at $10.34.
November soybeans closed sharply lower on Monday over export concerns and harvest pressure that pressured the market. In observance of Columbus Day, the USDA's weekly grain export inspection and crop progress reports will be released on Tuesday. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are overbought, diverging and are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at $10.22 1/4 would confirm that a short-term top has been posted. If November extends this summer's rally, monthly resistance on the weekly continuation chart crossing at $10.82 1/2 is the next upside target. First resistance is last-Friday's high crossing at $10.79 3/4. Second resistance is monthly resistance on the monthly continuation chart crossing at $10.82 1/2. First support is the 10-day moving average crossing at $10.32 1/4. Second support is the 20-day moving average crossing at $10.22 1/4.
December soybean meal closed up $4.40 to $364.00.
December soybean meal closed sharply lower on Monday due to harvest pressure that triggered technical related selling. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish hinting that a short-term top might be in or is near. Closes below the 20-day moving average crossing at $343.50 would confirm that a short-term top has been posted. If December extends the rally off August's low, monthly resistance crossing at $404.90 is the next upside target. First resistance is last-Thursday's high crossing at $369.50. Second resistance is monthly resistance crossing at $404.90. First support is the 10-day moving average crossing at $351.60. Second support is the the 20-day moving average crossing at $343.50.
December soybean oil closed down 81-pts. at 33.20.
December soybean oil closed sharply lower on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the aforementioned rally, September's high crossing at 35.49 is the next upside target. Closes below the 50-day moving average crossing at 32.65 would signal that a short-term top has been posted. First resistance is today's high crossing at 34.46. Second resistance is September's high crossing at 35.49. First support is last-Monday's low crossing at 31.47. Second support is the 50% retracement level of the March-September-rally crossing at 30.68.
LIVESTOCKhttp://quotes.ino.com/exchanges/?c=livestock
December hogs closed down $0.73 at $66.40.
December hogs closed lower on Monday as it consolidated some of the rally off October's low. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to higher signaling that sideways to higher prices are possible near-term. If December extends the rally off June's low, the 87% retracement level of the 2019-2020-decline crossing at $70.11 is the next upside target. Closes below the 20-day moving average crossing at $63.73 would signal that a short-term top has been posted. First resistance is the 75% retracement level of the 2019-2020-decline crossing at $66.94. Second resistance is the 87% retracement level of the 2019-2020-decline crossing at $70.11. First support is the 10-day moving average crossing at $64.14. Second support is the 20-day moving average crossing at $63.73.
December cattle closed down $1.60 at $111.00
December cattle closed sharply lower on Monday and below the 50-day moving average crossing at $111.29 signaling that short-term top has been posted. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are turning neutral to bearish signaling that sideways to higher prices are possible near-term. If December extends today's decline, the September 22nd low crossing at $109.80 is the next downside target. If December extends the rally off September's low, August's high crossing at $114.03 is the next upside target. First resistance is the September 30th high crossing at $113.58. Second resistance is August's high crossing at $114.03. First support is the September 22nd low crossing at $109.80. Second support is September's low crossing at $107.25.
November Feeder cattle closed down $0.30-cents at $138.60.
November Feeder cattle closed lower on Monday. The mid-range close sets the stage for a steady to lower opening when Tuesday's session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If November extends the decline off September's high, July's low crossing at $133.23 is the next downside target. Closes above the 20-day moving average crossing at $140.61 would confirm that a short-term low has been posted. First resistance is September's high crossing at $144.55. Second resistance is August's high crossing at $150.35. First support is today's low crossing at $134.63. Second support is July's low crossing at $133.23.
FOOD & FIBERhttp://quotes.ino.com/ex changes/?c=food
December coffee posted a key reversal down as it closed lower on Monday. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If December resumes the decline off September's high, the 87% retracement level of the June-September rally crossing at 10.18 is the next downside target. Closes above the 20-day moving average crossing at 11.17 would confirm that a short-term low has been posted.
December cocoa closed lower on Monday. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off September's high, August's low crossing at 23.55 is the next downside target. Closes above the 20-day moving average crossing at 25.45 would signal that a short-term low has been posted.
March sugar posted a huge key reversal down as it closed lower on Monday signaling that a short-term top might be in or is near. The low-range close set the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are overbought and are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 13.50 would signal that a short-term top has been posted. If March extends the rally off September's low, February's high crossing at 15.10 is the next upside target.
December cotton closed higher on Monday as it extends the rally off April's low. The low-range close sets the stage for a steady to slightly higher opening on Tuesday. 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 66.21 would confirm that a short-term top has been posted. If December extends the rally off April's low, the 87% retracement level of the January-April-decline crossing at 70.08 is the next upside target.
Thanks much tallpine.
Watching rain forecasts for drought stricken Mato Grosso in Brazil:
https://www.marketforum.com/forum/topic/59680/
Cold has moderated in week 2, especially on the European model, which caused natural gas to fill the gap higher from last nights open: