KEY EVENTS TO WATCH FOR:

Thursday, July 1, 2021  

7:30 AM ET. June Challenger Job-Cut Report

                       Job Cuts, M/M% (previous +8.48%)

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

                       Jobless Claims (expected 390K; previous 411K)

                       Jobless Claims, Net Chg (previous -7K)

                       Continuing Claims (previous 3390000)

                       Continuing Claims, Net Chg (previous -144K)

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

                       Corn (Metric Tons) (previous 527.1K)

                       Soybeans (Metric Tons) (previous 189K)

                       Wheat (Metric Tons) (previous 374.2K)

9:45 AM ET. Bloomberg Consumer Comfort Index

9:45 AM ET. June US Manufacturing PMI

                       PMI, Mfg (expected 62.6; previous 62.1)

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

                       Manufacturing PMI (expected 61.0; previous 61.2)

                       Prices Idx (previous 88.0)

                       Employment Idx (previous 50.9)

                       Inventories (previous 50.8)

                       New Orders Idx (previous 67.0)

                       Production Idx (previous 58.5)

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

                       New Construction (expected +0.4%; previous +0.2%)

                       Residential Construction

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

                       Working Gas In Storage (Cbf) (previous 2482B)

                       Working Gas In Storage, Net Chg (Cbf) (previous +55B)

11:00 AM ET. June Global Manufacturing PMI

                       PMI, Mfg (previous 56.0)

2:00 PM ET. SEC Closed Meeting

4:00 PM ET. June Domestic Auto Industry Sales

4:30 PM ET. Foreign Central Bank Holdings

4:30 PM ET. Federal Discount Window Borrowings

Friday, July 2, 2021  

8:30 AM ET. May U.S. International Trade in Goods & Services

                       Trade Balance (USD) (expected -71.4B; previous -68.90B)

                       Exports (USD) (previous 204.99B)

                       Exports, M/M% (previous +1.1%)

                       Imports (USD) (previous 273.89B)

                       Imports, M/M% (previous -1.4%)

8:30 AM ET. June U.S. Employment Report

                       Non-Farm Payrolls (expected +706K; previous +559K)

                       Unemployment Rate (expected 5.6%; previous 5.8%)

                       Avg Hourly Earnings (USD) (previous 30.33)

                       Avg Hourly Earnings-Net Chg (USD) (previous +0.15)

                       Avg Hourly Earnings, M/M% (expected +0.3%; previous +0.50%)

                       Avg Hourly Earnings, Y/Y% (expected +3.6%; previous +1.98%)

                       Overall Workweek (previous 34.9)

                       Overall Workweek Net Chg (previous +0)

                       Government Payrolls (previous +67K)

                       Private Payroll (previous +492K)

                       Participation Rate (previous 61.6%)

                       Non-Farm Payrolls Bench Net Chg

10:00 AM ET. May Manufacturers' Shipments, Inventories & Orders (M3)

                       Total Orders, M/M% (expected +1.7%; previous -0.6%)

                       Orders, Ex-Defense, M/M% (previous +0%)

                       Orders, Ex-Transport, M/M% (previous +0.5%)

                       Durable Goods, M/M%

                       Durable Goods, M/M%

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

The STOCK INDEXES: The September NASDAQ 100 was lower overnight as it consolidates some of the rally off May's low. The low-range trade 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. If September extends the rally off May's low into uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average crossing at 14,143.29 would signal that a short-term top has been posted. First resistance is the overnight high crossing at 14,606.25. Second resistance is unknown. First support is the 20-day moving average crossing at 14,143.29. Second support is the 50-day moving average crossing at 13,800.24.

The September S&P 500 was steady to slightly lower overnight.The low-range overnight trade sets the stage for a steady to lower opening when the day session begins trading later this morning.Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends this year's rally into uncharted territory, upside targets will be hard to project. Closes below the 50-day moving average crossing at 4190.06 would confirm that a short-term top has been posted. First resistance is the overnight high crossing at 4305.75. Second resistance is unknown. First support is the 20-day moving average crossing at 4236.64. Second support is the 50-day moving average crossing at 4190.06.    

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

INTEREST RATES: September T-bonds was lower overnight as it consolidates some of the rally off last-Friday's low. 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. If September renews the rally off May's low, the 62% retracement level of the 2020-2021-decline crossing at 164-14 is the next upside target. Closes below the 20-day moving average crossing at 159-07 would signal that a short-term top has been posted and would open the door for additional weakness near-term. First resistance is the 50% retracement level of the 2020-2021-decline crossing at 162-05. Second resistance is the 62% retracement level of the 2020-2021-decline crossing at 164-14. First support is the 20-day moving average crossing at 159-07. Second support is the 50-day moving average crossing at 157-08.  

September T-notes was lower overnight. The low-range overnight trade sets the stage for a steady to lower opening with the day session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If September renews its rally off March's low, the 50% retracement level of the 2020-2021-decline crossing at 133.163 is the next upside target. Closes below the June 17th low crossing at 131.140 would confirm that a short-term top has been posted while opening the door for additional weakness near-term. First resistance is the June 11^th high crossing at 133.065. Second resistance is the 50% retracement level of the 2020-2021-decline crossing at 133.163. First support is the June 17^th low crossing at 131.140. Second support is May's low crossing at 131.000. 

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

August crude oil was higher overnight as it rallied to a new contract high.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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If August extends this year's rally, the October-2018 high on the monthly continuation chart crossing at $76.90 is the next upside target. Closes below the 20-day moving average crossing at $71.81 would signal that a short-term top has been posted. First resistance is the overnight high crossing at $75.15. Second resistance is the October-2018 high on the monthly continuation chart crossing at $76.90. First support is the 20-day moving average crossing at $71.81. Second support is the 50-day moving average crossing at $67.55.

August heating oil was higher overnight. 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. If August extends this year's rally, the October-2018 high crossing at $2.2875 is the next upside target. Closes below the 50-day moving average crossing at $2.0535 would signal that a short-term top has been posted. First resistance is June's high crossing at $2.1916. Second resistance is the October-2018 high crossing at $2.2806. First support the 50-day moving average crossing at $2.0535. Second support is the May 21^st low crossing at $1.9490.  

August unleaded gas was higher overnight. 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. If July extends the rally off May's low, the 62% retracement level of the 2008-2020-decline on the monthly continuation chart crossing at $2.3876 is the next upside target. Closes below the 50-day moving average crossing at $2.1410 would confirm that a short-term top has been posted. First resistance is June's high crossing at $2.2937. Second resistance is the 62% retracement level of the 2008-2020-decline on the monthly continuation chart crossing at $2.3876. First support is the 50-day moving average crossing at $2.1410. Second support is June's low crossing at $2.1044.

August Henry natural gas was higher overnight as it extends the rally off March'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 July extends the rally off March's low, monthly resistance crossing at 3.994 is the next upside target. Closes below the 20-day moving average crossing at 3.338 would signal that a short-term top has been posted. First resistance resistance is Wednesday's high crossing at 3.814. Second resistance is monthly resistance crossing at 3.994. First support is the 10-day moving average crossing at 3.463. Second support is the 20-day moving average crossing at 3.338.  

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

CURRENCIES:The September Dollar was steady to slightly lower overnight. 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If September renews the rally off May's low, the 87% retracement level of the March-May-decline crossing at $92.93. Closes below the 20-day moving average crossing at $91.24 would signal that a short-term top has been posted. First resistance is the 75% retracement level of the March-May-decline crossing at $92.46. Second resistance is the 87% retracement level of the March-May-decline crossing at $92.93. First support is the 10-day moving average crossing at $92.00. Second support is the 20-day moving average crossing at $91.24.

The September Euro was higher overnight. 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 oversold and remain neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends this month's decline, the 87% retracement level of the March-May-rally crossing at $118.17 is the next downside target. Closes above the 20-day moving average crossing at $120.31 would signal that a short-term low has been posted. First resistance is last-Friday's high crossing at $119.95. Second resistance is the 20-day moving average crossing at $120.31. First support is the overnight low crossing at $118.54. Second support is the the 87% retracement level of the March-May-rally crossing at $118.17.

The September British Pound was lower overnight. The mid-range overnight trade sets the stage for a steady to lower opening when the day session beings trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends the decline off June's high, April's low crossing at 1.3678 is the next downside target. Closes above the 50-day moving average crossing at 1.4026 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at 1.4026. Second resistance is June's high crossing at 1.4253. First support is the overnight low crossing at 1.3766. Second support is April's low crossing at 1.3678.

The September Swiss Franc was steady to higher overnight. 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends this month's decline, the 75% retracement level of the March-June-rally crossing at 1.0774 is the next downside target. Closes above the 20-day moving average crossing at 1.1010 would signal that a short-term low has been posted. First resistance is last Friday's high crossing at 1.0960. Second resistance is the 20-day moving average crossing at 1.1010. First support is the 62% retracement level of the March-June-rally crossing at 1.0854. Second support is the 75% retracement level of the March-June-rally crossing at 1.0774. 

The September 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 turning neutral to bearish signaling that sideways to lower prices are possible near-term. If September resumes the decline off June's high, the 25% retracement level of the 2020-2021-rally crossing at $79.62 is the next downside target. Closes above the 20-day moving average crossing at $81.59 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at $81.59. Second resistance is June's high crossing at $83.28. First support is last-Monday's low crossing at $80.08. Second support is the 25% retracement level of the 2020-2021-rally crossing at $79.62.  

The September Japanese Yen was lower overnight as it renewed this year's decline. The mid-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 September extends the decline off April's high, weekly support on the continuation chart crossing at 0.089205 is the next downside target. Closes above the 20-day moving average crossing at 0.090763 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 0.090763. Second resistance is the 50-day moving average crossing at 0.091385. First support is the overnight low crossing at 0.089630. Second support is weekly support on the continuation chart crossing at 0.089205.  

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

PRECIOUS METALS: August gold was higher overnight as it consolidated some of the decline off June's high. The high-range overnight trade sets the stage for a steady to slightly 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 August extends the decline off June's high, the April-13th lowcrossing at $1725.50 is the next downside target. Closes above the 20-day moving average crossing at $1823.80 would signal that a short-term low has been posted. First resistance is last-Wednesday's high crossing at $1795.60. Second resistance is the 20-day moving average crossing at $1823.80. First support is Tuesday's low crossing at $1750.10. Second support is the April-13^th low crossing at $1725.50.

July silver was higher overnight as it extends the trading range of the past two-weeks. 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 oversold and are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at $26.900 would signal that a short-term low has been posted. If July renews the decline off May's high, the April 13^th low crossing at $24.725 is the next downside target. First resistance is last-Friday's high crossing at $26.380. Second resistance is the 20-day moving average crossing at $26.900. First support is Tuesday's low crossing at $25.560. Second support is the April 13^th low crossing at $24.725. 

July copper was slightly higher overnight. 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. Closes above the 20-day moving average crossing at 4.3621 would signal that a short-term low has been posted. If July renews the decline off May's high, the April 12^th low crossing at 3.9950 is the next downside target. First resistance is the 20-day moving average crossing at 4.3621. Second resistance is the 50-day moving average crossing at 4.4880. First support is June's low crossing at 4.0880. Second support is the April 12^th low crossing at 3.9950.  

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

December corn gapped up and was higher overnight as it extends the rally off June's low following yesterday's bullish planted acreage report. The high-range close sets the stage for a steady to higher opening when the day sessions begins trading. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. If December extends this week's rally, June's high crossing at $6.28 1/4 is the next upside target. Closes below the 10-day moving average crossing at $5.54 would signal that a short-term low has been posted. First resistance is June's high crossing at $6.28 1/4. Second resistance is May's high crossing at $6.38. First support is the 20-day moving average crossing at $5.72. Second support is the 50-day moving average crossing at $5.67 1/4.        

September wheat was higher overnight as it extends Wednesday's rally. The high-range close sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. If September extends this week's rally, the 50-day moving average crossing at $6.92 is the next upside target. Closes below Wednesday's low would confirm that a top has been posted while opening the door for a test of the 87% retracement level of the March-April-rally crossing at $6.16 1/2. First resistance is the 50-day moving average crossing at $6.92. Second resistance is June's high crossing at $7.08 1/2. First support is the 75% retracement level of the March-April-rally crossing at $6.37 1/4. Second support is the 87% retracement level of the March-April-rally crossing at $6.16 1/2.

September Kansas City wheat was steady to slightly higher overnight as it extends the rally off June's low. 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 bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off June's low, the 50% retracement level of the May-June-decline crossing at $6.68 3/4 is the next upside target. Closes below the 10-day moving average crossing at $6.24 1/2 would signal that a short-term top has been posted. First resistance is June's high crossing at $6.61 3/4. Second resistance is the 50% retracement level of the May-June-decline crossing at $6.68 3/4. First support is the 10-day moving average crossing at $6.24 1/2. Second support is June's low crossing at $5.92 1/2.

September Minneapolis wheat was higher overnight as it extends the rally off May's low. The high-range close 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 September extends the rally off June's low, the July-2017 high on the monthly continuation chart crossing at $8.68 1/2 is the next upside target. Closes below the 20-day moving average crossing at $7.90 3/4 would signal that a short-term top has been posted. First resistance is Wednesday's high crossing at $8.59 3/4. Second resistance is the July-2017 high on the monthly continuation chart crossing at $8.68 1/2. First support is the 20-day moving average crossing at $7.90 3/4. Second support is the 50-day moving average crossing at $7.63 1/4.  

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

November soybeans were higher overnight as it Wednesday's rally following Wednesday's bullish planted acreage report. The high-range close sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. If November extends this week's rally, June's high crossing at $14.80 is the next upside target. Closes below the 10-day moving average crossing at $13.23 1/2 would signal that a short-term top has been posted. First resistance is the overnight high crossing at $14.17 1/2. Second resistance is June's high crossing at $14.80. First support is the 10-day moving average crossing at $13.23 1/2. Second support is June's low crossing at $12.40 1/2.

December soybean meal was higher overnight. 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 bullish signaling sideways to higher prices are possible near-term. If December extends this week's rally, the 50-day moving average crossing at $391.80 is the next upside target. Closes below the 10-day moving average crossing at $366.60 would signal that a short-term top has been posted. First resistance is the 50-day moving average crossing at $391.80. Second resistance is June's high crossing at $404.30. First support is the 10-day moving average crossing at $366.60. Second support is June's low crossing at $347.00.  

December soybean oil was higher overnight as it extends the rally off June'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 December extends the rally off June's low, June's high crossing at 67.04 is the next upside target. Closes below last-Friday's low crossing at 56.66 would signal that a short-term top has been posted. First resistance is Wednesday's high crossing at 64.76. Second resistance is June's high crossing at 67.04. First support is the 38% retracement level of the 2020-2021-rally crossing at 52.08. Second support is the 50% retracement level of the 2020-2021-rally crossing at 47.44.    

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

August hogs closed down $0.03 at $103.60. 

August hogs closed slightly lower on Wednesday as it consolidated some of the rally off last-Thursday's low. The mid-range close sets the stage for a steady to slightly lower opening when Thursday'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 10-day moving average crossing at $103.05 would signal that a short-term low has been posted. If August renews the decline off June's high, the 50% retracement level of the 2020-2021-rally crossing at $95.71 is the next downside target. First resistance is the 10-day moving average crossing at $103.05. Second resistance is the 50-day moving average crossing at $108.74. First support is last-Thursday's low crossing at $96.50. Second support is the 50% retracement level of the 2020-2021-rally crossing at $95.71. 

August cattle closed up $1.00 at $122.93. 

August cattle closed higher on Wednesday. The high-range close sets the stage for a steady to higher opening on Thursday. 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 $119.71 would signal that a top has been posted. If August renews this month's rally, the February-2021 high on the weekly continuation chart crossing at $126.70 is the next upside target. First resistance is June's high crossing at $125.78. Second resistance is the February-2021 high on the weekly continuation chart crossing at $126.70. First support is the 20-day moving average crossing at $121.04. Second support is the 50-day moving average crossing at $119.71. 

August Feeder cattle closed down $2.78 at $154.63. 

Feeder cattle closed sharply lower on Wednesday due to sharply grain prices. The low-range close sets the stage for a steady to lower opening when Thursday's 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 June 14^th gap crossing at $151.90 would signal that a short-term top has been posted. If August renews this month's rally, April's high crossing at $162.40. First resistance is June's high crossing at $160.15. Second resistance is April's high crossing at $162.40. First support is the June 14^th gap crossing at $151.90. Second support is the June 10th low crossing at $146.75. 

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

September coffee closed lower on Wednesday as it consolidated some of the rally off last-Monday's low. The mid-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off last-Monday's low, June's high crossing at 16.87 is the next upside target. Closes below the 50-day moving average crossing at 15.31 would signal that a short-term top has been posted.              

September cocoa closed unchanged on Wednesday as it consolidated some of the rally off last-Thursday's low. The high-range close sets the stage for a steady to higher opening on Thursday. 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 24.01 are needed to confirm that a short-term low has been posted. If September resumes the decline off May's high, last-November's low crossing at 22.54 is the next downside target.                   

October sugar closed sharply higher on Wednesday as it extends the rally off June's low. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If October extends the rally off June's low, May's high crossing at 18.23 is the next upside target. Closes below June's low would renew the decline off June's high and open the door for a possible test of April's low crossing at 14.68 later this summer.     

December cotton closed sharply lower on Wednesday. The low-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the June 17^th low crossing at 83.37 would confirm that a short-term top has been posted. If December renews the rally off May's low, February's high crossing at 89.28 is the next upside target.