KEY EVENTS TO WATCH FOR:

Monday, March 1, 2021  

9:45 AM ET. February US Manufacturing PMI

                       PMI, Mfg (previous 59.2)

10:00 AM ET. February ISM Report On Business Manufacturing PMI

                       Manufacturing PMI (previous 58.7)

                       Prices Idx (previous (previous 82.1)

                       Employment Idx (previous 52.6)

                       Inventories (previous 50.8)

                       New Orders Idx (previous 61.1)

                       Production Idx (previous 60.7)

10:00 AM ET. January Construction Spending - Construction Put in Place

                       New Construction (previous +1.0%)

                       Residential Construction

11:00 AM ET. February Global Manufacturing PMI

                       PMI, Mfg   

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

The STOCK INDEXES: The March NASDAQ 100 was higher overnight as it consolidates some of the decline off February's high.The high-range trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off February's high, January's low crossing at 12,491.25 is the next downside target. Closes above the 20-day moving average crossing at 13,450.01 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 13,450.01. Second resistance is February's high crossing at 13,900.50. First support is January's low crossing at 12,491.25. Second support is the December 10^th low crossing at 12,217.00.

The March S&P 500 was higher overnight as it consolidates some of the decline off February's high. The high-range overnight trade sets the stage for a steady to higher opening when the day session begins trading later this morning.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 3805.13 would open the door for additional weakness and a possible test of February's low crossing at 3656.50. Closes above last-Thursday's high crossing at 3934.50 are needed to signal that a short-term low has been posted. First resistance is last-Thursday's high crossing at 3934.50. Second resistance is February's high crossing at 3959.25. First support is the 50-day moving average crossing at 3805.13. Second support is February's low crossing at 3656.50. 

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

INTEREST RATES: March T-bonds were higher due to short covering overnight as they consolidate some of this year's decline. The low-range overnight trade sets the stage for a steady to slightly higher opening when the day session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 164-29 would signal that a short-term low has been posted. If March extends the decline off August's high, a test of the 62% retracement level of the 2018-2020-rally on the monthly continuation chart crossing at 157-20 is the next downside target. First resistance is the 10-day moving average crossing at 162-12. Second resistance is the 20-day moving average crossing at 164-29. First support is last-Thursday's low crossing at 157-23. Second support is the 62% retracement level of the 2018-2020-rally on the monthly continuation chart crossing at 157-20.

March T-notes were higher due to short covering overnight as they consolidate some of the decline off January's high. The low-range overnight trade sets the stage for a steady to higher opening with the day session begins trading. Stochastics and the RSI are oversold but are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 135.298 would confirm that a short-term low has been posted. If March extends the decline off the January 27^th high, the 38% retracement level of the 2018-2020-rally on the weekly continuation chart crossing at 131.278 is the next downside target. First resistance is the 10-day moving average crossing at 135.016. Second resistance is the 20-day moving average crossing at 135.298. First support is last-Thursday's low crossing at 133.105. Second support is the 38% retracement level of the 2018-2020-rally on the weekly continuation chart crossing at 131.278. 

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

April crude oil was higher overnight as it consolidates some of last-Friday's decline. The mid-range overnight trade sets the stage for a steady to higher opening when the day session begins trading. 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 $59.17 would confirm that a short-term top has been posted. If April extends the rally off November's low, the October-2018 high crossing at $67.23 is the next upside target. First resistance is last-Thursday's high crossing at $63.79. Second resistance is the October-2018 high crossing at $67.23. First support is the 20-day moving average crossing at $59.17. Second support is the 50-day moving average crossing at $54.09.    

April heating oil was higher overnight as it consolidates some of last-Friday's decline. The mid-range overnight trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are turning neutral to bearish signals that sideways to lower 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 $200.04 is the next upside target. Closes below the 20-day moving average crossing at $177.99 would confirm that a short-term top has been posted. First resistance is last-Thursday's high crossing at $191.30. Second resistance is the 75% retracement level of the 2018-2020-decline crossing at $200.04. First support is the 10-day moving average crossing at $184.70. Second support is the 20-day moving average crossing at $177.99. 

April unleaded gas was higher overnight as it remains poised to extend the rally off November's low. The mid-range overnight trade sets the stage for a steady to higher opening when the 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 April extends the rally off November's low, the 87% retracement level of the 2018-2020-decline crossing at $204.11 is the next upside target. Closes below the 20-day moving average crossing at $184.37 would confirm that a short-term top has been posted. First resistance is last-Friday's high crossing at $198.94. Second resistance is the 87% retracement level of the 2018-2020-decline crossing at $204.11. First support is the 10-day moving average crossing at $192.81. Second support is the 20-day moving average crossing at $184.37. 

April Henry natural gas was slightly higher overnight as it consolidates some of the decline off February's high. The low-range overnight trade sets the stage for a steady to slightly higher opening when the 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 2.716, which coincides with the December-January uptrend line would signal a trend change has taken place. Closes above the 10-day moving average crossing at 2.890 would signal that a short-term low has been posted. First resistance resistance is the 10-day moving average crossing at 2.890. Second resistance is February's high crossing at 3.060. First support is the 50-day moving average crossing at 2.716. Second support is the 50% retracement level of the December-February rally crossing at 2.685.  

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

CURRENCIES:The March Dollar was higher in overnight trading as it extends the rebound off last-Thursday's low. The high-range overnight trade sets the stage for a steady to higher opening when the day 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 last-Thursday's low, February's high crossing at $91.61 is the next upside target. If March resumes the decline off February's high, January's low crossing at $89.16 is the next downside target. First resistance is the overnight high crossing at $91.15. Second resistance is February's high crossing at $91.61. First support is last-Thursday's low crossing at $89.68. Second support is January's low crossing at $89.16.

The March Euro was lower overnight as it extends the decline off last-Thursday's high. The low-range overnight trade sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off last-Thursday's high, February's low crossing at $119.60 is the next downside target. Closes above the 50-day moving average crossing at $121.65 would signal that a short-term low has been posted. First resistance is the 75% retracement level of the January-February-decline crossing at $122.69. Second resistance is the 87% retracement level of the January-February-decline crossing at $123.18. First support is the February 17th low crossing at $120.29. Second support is February's low crossing at $119.60.

The March British Pound was higher overnight as it consolidates some of the decline off last-Wednesday's high. The mid-range overnight trade sets the stage for a steady to higher opening when the day session beings trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 1.3873 would signal that a short-term top has been posted while opening the door for additional weakness near-term. If March renews the rally off September's low, the 87% retracement level of the 2017-2020-decline crossing at 1.4577 is the next upside target. First resistance is last-Wednesday's high crossing at 1.4245. Second resistance is the 87% retracement level of the 2017-2020-decline crossing at 1.4577. First support is the 20-day moving average crossing at 1.3873. Second support is the 50-day moving average crossing at 1.3710.  

The March Swiss Franc was lower overnight as it extends the decline off January's high. The low-range overnight trade sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off last-Tuesday's high, the 50% retracement level of the 2020-2021-rally crossing at 1.0855 is the next downside target. Closes above the 20-day moving average crossing at 1.1132 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 1.1093. Second resistance is the 20-day moving average crossing at 1.1132. First support is the overnight low crossing at 1.0942. Second support is the 50% retracement level of the 2020-2021-rally crossing at 1.0855. 

The March Canadian Dollar was steady to slightly higher overnight. The high-range trade sets the stage for a steady to higher opening when the 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 50-day moving average crossing at $78.58 would signal that a short-term top has been posted. If March resumes the rally off February's low, the 87% retracement level of the 2018-2020-decline crossing at $80.50 is the next upside target. First resistance is last-Thursday's high crossing at $80.19. Second resistance is the 87% retracement level of the 2018-2020-decline crossing at $80.50. First support is the 50-day moving average crossing at $78.58. Second support is January's low crossing at $77.63.  

The March Japanese Yen was lower overnight as it extends the decline off January's high. The low-range overnight trade sets the stage for a steady to lower opening when the 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, last-August's low crossing at 0.0938 is the next downside target. Closes above the 20-day moving average crossing at 0.0949 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 0.0949. Second resistance is the 50-day moving average crossing at 0.0959. First support is the 62% retracement level of the 2020-2021-rally crossing at 0.0934. Second support is last-August's low crossing at 0.0938. 

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

PRECIOUS METALS: April gold was higher overnight as it consolidates some of the decline off January's high. The low-range overnight trade sets the stage for a steady to slightly higher opening when the day session begins trading. Stochastics and the RSI are overbought, diverging but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If April extends the decline off January's high,the 62% retracement level of the 2019-2020-rally crossing at $1634.70. is the next downside target. Closes above the 20-day moving average crossing at $1804.10 would signal  that a short-term low has been posted. First resistance is the 20-day moving average crossing at $1804.10. Second resistance is 50-day moving average crossing at $1847.20. First support is the 50% retracement level of the 2019-2020-rally crossing at $1725.30. Second support is the 62% retracement level of the 2019-2020-rally crossing at $1634.70.

May silver was higher overnight as it consolidates some of the decline off last-Tuesday's high. The mid-range overnight trade sets the stage for a steady to higher opening when the day session begins trading later this morning. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Multiple closes below the 50-day moving average crossing at $26.553 would confirm that a top has been posted while opening the door for additional weakness near-term. If May renews the rally off last-Friday's low, February's high crossing at $30.040 is the next upside target. First resistance is last-Tuesday's high crossing at $28.470. Second resistance is February's high crossing at $30.040. First support is the 50-day moving average crossing at $26.553. Second support is the January 27^th low crossing at $24.775.  

May copper was higher overnight it consolidates some of the decline off last-Thursday's high. The mid-range overnight trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 10-day moving average crossing at 4.0781 would signal that a short-term top has been posted. If May renews the rally off October's low, the August-2011 high on the monthly continuation chart crossing at 4.5400 is the next upside target. First resistance is last-Thursday's high crossing at 4.3755. Second resistance is the August-2011 high on the monthly continuation chart crossing at 4.5400. First support is the 10-day moving average crossing at 4.0781. Second support is the 20-day moving average crossing at 3.8660.   

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

May corn was steady to fractionally higher overnight. The low-range close sets the stage for a steady to slightly higher opening when the day sessions begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If May resumes the decline off February's high, the 25% retracement level of the August-February-rally crossing at $5.14 is the next downside target. If May extends the rally off February's low, February's high crossing at $5.72 is the next upside target. First resistance is February's high crossing at $5.72. Second resistance is the 62% retracement level of the 2012-2019-decline on the monthly continuation chart crossing at $6.36. First support is the February 11th low crossing at $5.23 1/4. Second support is the the 25% retracement level of the August-February-rally crossing at $5.14.      

May wheat was higher overnight as it consolidates some of the decline off last-Wednesday's high. The mid-range close sets the stage for a steady to higher opening when the 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 $6.56 1/4 would signal that a short-term top has been posted. If May resumes the rally off February's low, January's high crossing at $6.93 is the next upside target. First resistance is last-Wednesday's high crossing at $6.88 1/2. Second resistance is January's high crossing at $6.93. First support is the 20-day moving average crossing at $6.56 1/4. Second support is the 50-day moving average crossing at $6.48. 

May Kansas City wheat was higher overnight as it consolidates some of the decline off last-Wednesday's high. The high-range close sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Multiple closes below the 20-day moving average crossing at $6.35 3/4 would signal that a short-term top has been posted. If May resumes the rally off February's low, the December-2014 high on the monthly continuation chart crossing at $7.05 3/4 is the next upside target. First resistance is last-Wednesday's high crossing at $6.64. Second resistance is the December-2014 high on the monthly continuation chart crossing at $7.05 3/4. First support is the 20-day moving average crossing at $6.35 3/4. Second support is the 50-day moving average crossing at $6.20 3/4. 

May Minneapolis wheat was higher overnight as it consolidates some of the decline off last-Wednesday's high. The high-range close sets the stage for a steady to higher opening when the 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 $6.39 would signal that a short-term top has been posted. If May resumes the rally off February's low, January's high crossing at $6.62 is the next upside target. First resistance is last-Wednesday's high crossing at $6.58 3/4. Second resistance is January's high crossing at $6.62. First support is the 20-day moving average crossing at $6.39. Second support is the 50-day moving average at crossing at $6.24 1/2.       

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

May soybeans gapped up and were higher overnight.The mid-range close sets the stage for a steady to higher opening when the 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 $13.83 1/2 would signal that a short-term top has been posted. If May extends the rally above January's high crossing at $14.33, the 75% retracement level of the 2012-2019-decline crossing at $15.39 1/2 on the monthly continuation chart is the next upside target. First resistance is last-Thursday's high crossing at $14.45 3/4. Second resistance is the 75% retracement level of the 2012-2019-decline on the monthly continuation chart crossing at $15.39 1/2. First support is the 20-day moving average crossing at $13.83 1/2. Second support is the 50-day moving average crossing at $13.49 1/4.  

May soybean meal was higher overnight trading as it rebounds off the bottom of the trading range of the past five-weeks, which crosses at $413.40. The mid-range close sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are neutral to bearish signaling sideways to lower prices are possible near-term. Closes below the January 25^th low crossing at $413.40 would confirm a downside breakout of the aforementioned trading range while opening the door for a possible test of the 38% retracement level of August-January rally crossing at $396.90. Closes above the February 9th high crossing at $442.10 would mark an upside breakout of the aforementioned trading range. First resistance is the February 9th high crossing at $442.10. Second resistance is January's high crossing at $463.60. First support is February's low crossing at $413.40. Second support is the 38% retracement level of the August-January rally crossing at $396.90.      

May soybean oil was steady to slightly lower overnight. The low-range close sets the stage for a steady to lower opening when the 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. May extends the rally off October's low, the 62% retracement level of the 2012-2020-decline on the monthly continuation chart crossing at 53.45 is the next upside target. Closes below the 20-day moving average crossing at 46.35 would signal that a short-term top has been posted. If First resistance is last-Thursday's high crossing at 50.95. Second resistance is the 62% retracement level of the 2012-2020-decline on the monthly continuation chart crossing at 53.45. First support is the 10-day moving average crossing at 48.11. Second support is the 20-day moving average crossing at 46.35.      

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

April hogs closed down $2.60 at $89.15. 

April hogs closed sharply lower on Friday as it consolidated some of the rally off November'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. If April renews the rally off November's low, 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 $82.99 would signal that a short-term top has been posted. First resistance is Thursday's high crossing at $90.68. 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 $86.38. Second support is the 20-day moving average crossing at $82.99. 

April cattle closed down $1.68 at $120.00 

April cattle closed lower on Friday as it extended the decline off February's high. 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. If April extends the decline off February's high, the 50% retracement level of the October-February-rally crossing at $117.72 is the next downside target. Closes above the 20-day moving average crossing at $122.97 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at $122.97. Second resistance is February's high crossing at $126.70. First support is the 38% retracement level of the October-February rally crossing at $119.86. Second support is the 50% retracement level of the October-February-rally crossing at $117.72. 

April Feeder cattle closed down $2.50 at $142.58. 

April Feeder cattle closed sharply lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday's session begins trading. Stochastics and the RSI are poised to turn  neutral to bearish with additional weakness the would signal that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at $142.04 would signal that a short-term top has been posted. If April resumes the rally off February's low, January's high crossing at $147.00 is the next upside target. First resistance is February's high crossing at $145.80. Second resistance is January's high crossing at $147.00. 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 due to profit taking on Friday as it consolidates some of the rally off November's low. 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 May extends the aforementioned rally, the 87% retracement level of the 2019-2020-decline crossing at 14.42 is the next upside target. Closes below the 20-day moving average crossing at 12.89 would signal that a short-term top has been posted.        

May cocoa closed slightly higher for the third day in a row on Friday as it extended the rally off February'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 that sideways to higher prices are possible near-term. If May extends the rally off February's low, the 75% retracement level of the November-February-decline crossing at 26.63 is the next upside target. Closes below the 20-day moving average crossing at 24.57 would confirm that a short-term top has been posted.          

May sugar closed lower on Friday as it extended the decline off February's high. The low-range close set the stage for a steady to lower opening on Monday. 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 16.05 would confirm that a short-term top has been posted. If May renews the rally off last-April's low, weekly resistance crossing at 18.42 is the next upside target.     

May cotton gapped down and closed lower on Friday following yesterday's huge key reversal down signaling that a short-term top has likely been posted. The mid-range close sets the stage for a steady to lower opening on Monday. 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 87.56 would signal that a short-term top has been posted. If May renews the rally off April's low, the June-2018 high on the weekly continuation chart crossing at 96.50 is the next upside target.