KEY EVENTS TO WATCH FOR:
Monday, February 15, 2021
N/A U.S: Susan B. Anthony Day state holiday in Florida
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 posted an inside day with a higher close on Friday.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 overbought but remain neutral to bullish signaling sideways to higher prices are possible near-term. This month's rally into uncharted territory, upside targets will be hard to project. Closes below the 50-day moving average crossing at 30,597.40 would signal that a short-term top has been posted.First resistance is Thursday's high crossing at 31,543.82. Second resistance is unknown. First support is the 20-day moving average crossing at 30,935.68. Second support is the 50-day moving average crossing at 30,597.40.
The March NASDAQ 100 closed higher on Friday. 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off September's low into uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average crossing at 13,384.39 are needed to confirm that a short-term top has been posted. First resistance is Wednesday's high crossing at 13,769.25. Second resistance is unknown. First support is the 10-day moving average crossing at 13,568.63. Second support is the 20-day moving average crossing at 13,384.39.
The March S&P 500 closed higher on Friday. 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally into uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average crossing at 3834.55 would signal that a short-term top has been posted. First resistance is Wednesday's high crossing at 3928.50. Second resistance is unknown. First support is the 20-day moving average crossing at 3834.55. Second support is the 50-day moving average crossing at 3761.96.
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March T-bonds closed down 1-06/32's at 166-02.
March T-bonds closed sharply lower on Friday and posted a new low close for the year. 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 again signaling that sideways to lower prices are possible near-term. If March extends the decline off November's high, the 50% retracement level of the 2018-2020 rally crossing at 164-04 is the next downside target. Closes above the 20-day moving average crossing at 168-12 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 168-12. Second resistance is the 50-day moving average crossing at 170-14. First support is Monday's low crossing at 166-03. Second support is the 50% retracement level of the 2018-2020 rally crossing at 164-04.
March T-notes closed down 105 pts. at 136.170.
March T-notes 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 turning neutral to bearish again signaling that sideways to lower prices are possible near-term. If March resumes the decline off the January 27th high, January's low crossing at 136.010 is the next downside target. Closes above the 50-day moving average crossing at 137.112 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at 137.106. Second resistance is January's high crossing at 138.055. First support is January's low crossing at 136.010. Second support is monthly support on the continuation chart crossing at 134.298.
ENERGY MARKETS? http://quotes.ino.com/ex?changes/?c=energy ""
April crude oil closed sharply higher on Friday as it resumed the rally off February's low. The high-range close sets the stage for a steady to higher opening when Monday's night session begins. 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 November's low, the 87% retracement level of the 2018-2020-decline crossing at $62.15 is the next upside target. Closes below the 20-day moving average crossing at $54.73 would signal that a short-term top has been posted. First resistance is today's high crossing at $59.72. Second resistance is the 87% retracement level of the 2018-2020-decline crossing at $62.15. First support is the 10-day moving average crossing at $56.86. Second support is the 20-day moving average crossing at $54.73.
April heating oil closed higher on Friday as it renewed the rally off November's low. The high-range close sets the stage for a steady to higher opening when Monday's night trading session begins. 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 November's low, the 62% retracement level of the 2018-2020-decline crossing at $183.37 is the next upside target. Closes below the 20-day moving average crossing at $165.41 would confirm that a short-term top has been posted. First resistance is the 62% retracement 1evel of the 2018-2020-decline crossing at $183.37. Second resistance is the the 75% retracement level of the 2018-2020-decline crossing at $200.04. First support is the 10-day moving average crossing at $171.29. Second support is the 20-day moving average crossing at $165.41.
April unleaded gas closed higher on Friday as it extended the rally off November'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 overbought but remain neutral to bullish signaling sideways to higher prices are possible near-term. If April extends the rally off November's low, the 75% retracement level of the 2018-2020-decline crossing at $188.15 is the next upside target. Closes below the 20-day moving average crossing at $170.66 would signal that a short-term top has been posted. First resistance is today's high crossing at $182.02. Second resistance is the 75% retracement level of the 2018-2020-decline crossing at $188.15. First support is the 10-day moving average crossing at 175.95. Second support is the 20-day moving average crossing at $170.66.
April Henry natural gas closed higher on Friday as it extended the trading range of the past two-weeks. 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 neutral signaling that sideways to higher prices are possible near-term. If April extends the rally off January's low, November's high crossing at 3.052 is the next upside target. Closes below the February 1st gap crossing at 2.716 would signal that a short-term top has been posted. First resistance is last-Friday's high crossing at 2.980. Second resistance is November's high crossing at 3.052. First support is the January 29th low crossing at 2.583. Second support is the January 22nd low crossing at 2.475.
CURRENCIES? http://quotes.ino.com/ex?changes/?c=currencies ""
The March Dollar closed slightly higher on Friday as it consolidates some of decline off last-Friday'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 are neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends this week's decline, the January 21st low crossing 90.03 is the next downside target. If March renews the rally off January's low, the November 30th high crossing at 91.96 is the next upside target. First resistance is last-Friday's high crossing at 91.61. Second resistance is the November 30th high crossing at 91.96. First support is the January 21st low crossing 90.03. Second support is January's low crossing at 89.16.
The March Euro closed lower on Friday as it consolidates some of the rally off last-Friday's low. The mid-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI remain neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 121.73 are needed to confirm that a short-term low has been posted. If March renews the decline off January's high, the November 23rd low crossing at 118.33 is the next downside target. First resistance is the 50-day moving average crossing at 121.73. Second resistance is the January 22nd high crossing at 122.03. Third resistance is January's high crossing at 123.68. First support is the 10-day moving average crossing at 120.76. Second support is last-Friday's low crossing at 119.60.
The March British Pound closed higher on Friday as it extends the rally off February'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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off May's low, the 75% retracement level of the 2016-2020-decline crossing at 1.4156 is the next upside target. Closes below the 50-day moving average crossing at 1.3585 would confirm that a short-term top has been posted while opening the door for a possible test of the January 11th low crossing at 1.3200. First resistance is Wednesday's high crossing at 1.3868. Second resistance is the 75% retracement level of the 2016-2020-decline crossing at 1.4156. First support is the 50-day moving average crossing at 1.3585. Second support is the January 11th low crossing at 1.3456.
The March Swiss Franc closed lower on Friday as it consolidates some of the rally off last-Friday's low. 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 bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 1.1271 are needed to confirm that a short-term low has been posted. Closes below the 10-day moving average crossing at 1.1170 would temper the near-term friendly outlook. First resistance is the 50-day moving average crossing at 1.1271. Second resistance is the January 22nd high crossing at 1.1331. First support is February's low crossing at 1.1064. Second support is the November 30th low crossing at 1.1036.
The March Canadian Dollar closed slightly lower on Friday as it consolidated some of the rally off January's low. The high-range close sets the stage for a steady to slightly 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 March extends the rally off January's low, January's high crossing at 79.44 is the next upside target. Closes below the 50-day moving average crossing at 78.39 would signal that a short-term top has been posted. First resistance is Thursday's high crossing at 78.99. Second resistance is January's high crossing at 79.44. First support is January's low crossing at 77.63. Second support is the December 28st low crossing at 77.63.
The March Japanese Yen closed lower on Friday as it consolidates some of the rally off last-Friday's low. 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 turning neutral to bearish signaling that sideways to lower prices are possible near-term. If March renews the decline off January's high, October's low crossing at 0.0945 is the next downside target. Multiple closes above the 20-day moving average crossing at 0.0958 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 0.0958. Second resistance is the 50-day moving average crossing at 0.0962. First support is last-Friday's low crossing at 0.0946. Second support is October's low crossing at 0.0945.
PRECIOUS METALS? http://quotes.ino.com/ex?changes/?c=metals ""
April gold closed lower on Friday pressured by strength in U.S. Treasury yields.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 turning neutral to bearish hinting that additional weakness is possible near-term. If April renews the decline off January's high, November's low crossing at $1771.30 is the next downside target. Closes above the 50-day moving average crossing at $1861.50 are needed to confirm that a short-term low has been posted. First resistance is the January 29th high crossing at $1878.90. Second resistance is January's high crossing at $1966.80. First support is February's low crossing at $1784.60. Second support is November's low crossing at $1771.30.
March silver closed higher on Friday. 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 neutral signaling that sideways trading is possible near-term. If March renews the rally off January's low, the January 6th high crossing at 28.105 is the next upside target. If March renews the decline off February's high, the 50-day moving average crossing at 25.892 is the next downside target. First resistance is February's high crossing at 30.350. Second resistance is monthly resistance on the continuation chart crossing at 30.727. First support is the 20-day moving average crossing at 26.447. Second support is the 50-day moving average crossing at 25.892.
March copper closed higher on Friday as it extended the rally off February'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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off March's low, monthly resistance crossing at 398.95 is the next upside target. Closes below the 50-day moving average crossing at 359.40 would signal that a short-term top has been posted. First resistance is today's high crossing at 380.50. Second resistance is monthly resistance crossing at 398.95. First support is January's low crossing at 349.10. Second support is December's low crossing at 343.90.
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March Corn closed down $0.02 1/4-cents at $5.38 3/4.
March 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 neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends this week's decline, the 25% retracement level of the August-January-rally crossing at $5.13 1/2 is the next downside target. Closes above the 50% retracement level of the 2012-2019-decline on the monthly continuation chart crossing at $5.72 1/4 are needed to renew the rally off August's low. First resistance is the 50% retracement level of the 2012-2019-decline crossing at $5.72 1/4 is the next upside target. Second resistance is the 62% retracement level of the 2012-2019-decline crossing at $6.36. First support is the 25% retracement level of the August-January-rally crossing at $5.13 1/2. Second support is the January 25th low crossing at $4.92 1/2.
March wheat closed up $0.03 1/4-cents at $6.36 1/4.
March wheat posted an inside day with a higher close on Friday as it consolidates above the 50-day moving average crossing at $6.31 1/2.. 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 neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at $6.31 1/2 would open the door for a larger-degree decline near-term. If March resumes the rally off December's low, long-term resistance on the monthly continuation chart crossing at $7.34 1/4 is the next upside target. First resistance is January's high crossing at $6.93. Second resistance is monthly resistance on the monthly continuation chart crossing at $7.34 1/4. First support is the 50-day moving average crossing at $6.31 1/2. Second support is the December 28th crossing at $6.07.
March Kansas City Wheat closed up $0.05 3/4-cents at $6.16 3/4.
March Kansas City wheat posted an inside day with a higher close on Friday. 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 neutral to bearish signaling that sideways to lower prices are possible near-term. If March resumes the decline off January's high, the 50-day moving average crossing at $6.00 is the next downside target. If March resumes this winter's rally, the December-2014 high on the monthly continuation chart crossing at $7.05 3/4 is the next upside target. First resistance is January's high crossing at $6.60. Second resistance is the December-2014 high on the monthly continuation chart crossing at $7.05 3/4. First support is last-Wednesday's low crossing at $6.04 1/2. Second support is the 50-day moving average crossing at $6.00.
March Minneapolis wheat closed down a $0.00 1/4-cents at $6.16.
March Minneapolis wheat closed fractionally lower on Friday as it appears to be forming a symmetrical triangle (consolidation pattern) before moving into a trending move. Since March rally off December's low, odds favor a resumption of this trend in the near-future. 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. Closes below last-Wednesday's low crossing at $6.09 1/2 would confirm that a short-term top has been posted while opening the door for a possible test of the 50-day moving average crossing at $5.99 1/2. If March renews the rally off December's low, monthly resistance crossing at $6.58 is the next upside target. First resistance is January's high crossing at crossing at $6.53 1/2. Second resistance is monthly resistance crossing at $6.58. First support is the January 25th low crossing at $6.05. Second support is the 50-day moving average crossing at $5.99 1/2.
SOYBEAN COMPLEX? http://quotes.ino.com/ex?changes/?c=grains "
March soybeans closed up $0.04 1/2-cents at $13.72.
March soybeans closed higher on Friday. 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 neutral to bearish signaling that sideways to lower prices are is possible near-term. If March renews the decline off January's high, the 50-day moving average crossing at $13.04 1/4 is the next downside target. If March renews the rally off January's low, January's high crossing at $14.36 1/2 is the next upside target. First resistance is January's high crossing at $14.36 1/2. Second resistance is the 75% retracement level of the 2012-2019-decline on the monthly chart crossing at $15.39 1/4. First support is the 50-day moving average crossing at $13.04 1/2. Second support is the 25% retracement level of the April-January rally crossing at $12.83 1/2.
March soybean meal closed down $1.70 to $427.20.
March soybean meal closed lower on Friday as it extends the trading range of the past three-weeks. The mid-range close sets the stage for a steady opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices possible near-term. Closes below the 50-day moving average crossing at $421.40 would renew the decline off January's high while opening the door for additional weakness near-term. Closes above Tuesday's high crossing at $443.70 would signal that a short-term low has been posted. First resistance is January's high crossing at $471.40. Second resistance is monthly resistance crossing at $478.40. First support is the 50-day moving average crossing at $421.40. Second support is the 38% retracement level of the August-January rally crossing at $401.40.
March soybean oil closed up 41 pts. at 46.04.
March soybean oil closed higher on Friday. 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off October's low, the 50% retracement level of the 2008-2020-decline the monthly continuation chart crossing at 47.97 is the next upside target. Closes below the 20-day moving average crossing at 44.27 would confirm that a short-term top has been posted. First resistance is Tuesday's high crossing at 46.67. Second resistance is the 50% retracement level of the 2008-2020-decline the monthly continuation chart crossing at 47.97. First support is the 20-day moving average crossing at 44.27. Second support is the 50-day moving average crossing at 41.96.
LIVESTOCKhttp://quotes.ino.com/exchanges/?c=livestock
April hogs closed up $0.95 at $85.20.
April hogs closed higher on Friday as it extends the rally off November's low. 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If April extends the aforementioned rally, the 87% retracement level of the 2019-2020-decline on the weekly continuation chart crossing at $92.25 is the next upside target. Closes below the 20-day moving average crossing at $77.72 would signal that a short-term top has been posted. First resistance is the 75% retracement level of the 2019-2020-decline on the weekly continuation chart crossing at $85.25. Second resistance is the 87% retracement level of the 2019-2020-decline on the weekly continuation chart crossing at $92.25. First support is the 10-day moving average crossing at $80.44. Second support is the 20-day moving average crossing at $77.72.
April cattle closed up $2.05 at $125.18
April cattle posted a new high for the year on Friday as it extends the rally off October's low. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible. If April extends the rally off October's low, the December-2019 high on the monthly continuation chart crossing at $127.90 is the next upside target. Closes below the 20-day moving average crossing at $122.25 would signal that a short-term top has been posted. First resistance is today's high crossing at $125.83. Second resistance is the December-2019 high crossing at $127.90. First support is the 20-day moving average crossing at $122.25. Second support is the 50-day moving average crossing at $119.54.
April Feeder cattle closed up $1.35 at $144.73.
April Feeder cattle closed higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday's session begins trading. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. If April renews the rally off January's low, the August-2020 high on the weekly continuation chart crossing at $148.40 is the next upside target. If April resumes the decline off January's high, January's low crossing at $135.03 is the next downside target. First resistance is January's high crossing at $147.00. Second resistance is the August-2020 high on the weekly continuation chart crossing at $148.40. First support is February's low crossing at $140.05. Second support is January's low crossing at $135.03.
FOOD & FIBERhttp://quotes.ino.com/ex changes/?c=food
May coffee closed lower on Friday as it extended this week's decline. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends this week's decline, January's low crossing at 12.09 is the next downside target. Closes above the 20-day moving average crossing at 12.62 would signal that a short-term low has been posted.
May cocoa closed higher on Friday as it extends the December-February trading range. 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 sideways to lower prices are possible near-term. Closes below the December 22nd low crossing at 24.09 would mark a downside breakout of the aforementioned trading range signaling a resumption of the decline off November's high. Closes above the January 4th high crossing at 25.89 would confirm an upside breakout of the aforementioned trading range.
May sugar closed lower on Friday as it consolidated some of this month's rally. The low-range close set the stage for a steady to lower opening on Monday. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 15.36 would signal that a short-term top has been posted. If May extends the rally off December's low, weekly resistance crossing at 17.23 is the next upside target.
March cotton closed higher on Friday as it extends this month's rally. 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 that sideways to higher prices are possible near-term. If March extends the rally off April's low, the July-2018 high on the weekly continuation chart crossing at 89.98 is the next upside target. Closes below the 20-day moving average crossing at 82.57 would signal that a short-term top has been posted.
thanks tallpine!