INO Morning Market Commentary
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Started by tallpine - Sept. 21, 2021, 8:05 a.m.

KEY EVENTS TO WATCH FOR:

 



 

 

Tuesday, September 21, 2021   

 



 

 

7:45 AM ET. Weekly Chain Store Sales Index

 



 

 

8:30 AM ET. August New Residential Construction - Housing Starts and Building Permits

 



 

 

                       Total Starts (previous 1.534M)

 



 

 

                       Housing Starts, M/M% (previous -7.0%)

 



 

 

                       Building Permits (previous 1.635M)

 



 

 

                       Building Permits, M/M% (previous +2.6%)

 



 

 

8:30 AM ET. 2nd Quarter International Transactions

 



 

 

                       Current Account (USD) (previous -195.74B)

 



 

 

8:55 AM ET. Johnson Redbook Retail Sales Index

 



 

 

                       Ret Sales Mo-to-Date, M/M%

 



 

 

                       Ret Sales Mo-to-Date, Y/Y% (previous +15.9%)

 



 

 

                       Latest Wk, Y/Y% (previous +15.3%)

 



 

 

4:30 PM ET. API Weekly Statistical Bulletin

 



 

 

                       Crude Stocks, Net Chg (Bbls) (previous -5.4M)

 



 

 

                       Gasoline Stocks, Net Chg (Bbls) (previous -2.8M)

 



 

 

                       Distillate Stocks, Net Chg (Bbls) (previous -2.9M)

 



 

 

  N/A               U.S. Federal Open Market Committee meeting

 



 

 

Wednesday, September 22, 2021  

 



 

 

7:00 AM ET. MBA Weekly Mortgage Applications Survey

 



 

 

                       Composite Idx (previous 707.9)

 



 

 

                       Composite Idx, W/W% (previous +0.3%)

 



 

 

                       Purchase Idx-SA (previous 277.9)

 



 

 

                       Purchase Idx-SA, W/W% (previous +7.5%)

 



 

 

                       Refinance Idx (previous 3185.6)

 



 

 

                       Refinance Idx, W/W% (previous -3.2%)

 



 

 

10:00 AM ET. August Existing Home Sales

 



 

 

                       Existing Sales (previous 5.99M)

 



 

 

                       Existing Sales, M/M% (previous +2.0%)

 



 

 

                       Unsold Homes Month's Supply (previous 2.6)

 



 

 

                       Median Price (USD) (previous 359900)

 



 

 

                       Median Home Price, Y/Y% (previous +17.8%)

 



 

 

10:30 AM ET. EIA Weekly Petroleum Status Report

 



 

 

                       Crude Oil Stocks (Bbl) (previous 417.445M)

 



 

 

                       Crude Oil Stocks, Net Chg (Bbl) (previous -6.422M)

 



 

 

                       Gasoline Stocks (Bbl) (previous 218.142M)

 



 

 

                       Gasoline Stocks, Net Chg (Bbl) (previous -1.857M)

 



 

 

                       Distillate Stocks (Bbl) (previous 131.897M)

 



 

 

                       Distillate Stocks, Net Chg (Bbl) (previous -1.689M)

 



 

 

                       Refinery Usage (previous 82.1%)

 



 

 

                       Total Prod Supplied (Bbl/day) (previous 19.911M)

 



 

 

                       Total Prod Supplied, Net Chg (Bbl/day) (previous -0.043M)

 

                        

 

2:00 PM ET. U.S. interest rate decision

 



 

 

                       Federal Funds Rate

 



 

 

                       Federal Funds Rate Change (Pts)

 



 

 

                       Fed Funds Rate-Range High (previous 0.25)

 



 

 

                       Fed Funds Rate-Range Low (previous 0.00)

 



 

 

                       FOMC Vote For Action (previous 11)

 



 

 

                       FOMC Vote Against Action (previous 0)

 



 

 

                       Discount Rate (previous 0.25)

 



 

 

                       Discount Rate Change (Pts) (previous +0)

 



 

 

                       Discount Rate-Range High

 



 

 

                       Discount Rate-Range Low

 



 

 

2:00 PM ET. Federal Reserve economic projections

 



 

 

                       Median Fed Funds Rate - 2021 (previous 0.1%)

 



 

 

                       Median Fed Funds Rate - 2022 (previous 0.1%)

 



 

 

                       Median Fed Funds Rate - 2023 (previous 0.6%)

 



 

 

                       Median Fed Funds Rate - 2024

 



 

 

Thursday, September 23, 2021  

 



 

 

8:30 AM ET. August CFNAI Chicago Fed National Activity Index

 



 

 

                       NAI (previous 0.53)

 



 

 

                       NAI, 3-mo Moving Avg (previous 0.23)

 



 

 

8:30 AM ET. 2nd Quarter State Quarterly Personal Income

 



 

 

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

 



 

 

                       Jobless Claims (previous 332K)

 



 

 

                       Jobless Claims, Net Chg (previous +20K)

 



 

 

                       Continuing Claims (previous 2665000)

 



 

 

                       Continuing Claims, Net Chg (previous -187K)

 



 

 

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

 



 

 

                       Corn (Metric Tons) (previous 248.9K)

 



 

 

                       Soybeans (Metric Tons) (previous 1266.2K)

 



 

 

                       Wheat (Metric Tons) (previous 617.1K)

 



 

 

9:45 PM ET. Bloomberg Consumer Comfort Index

 



 

 

9:45 AM ET. September US Flash Manufacturing PMI

 



 

 

                       PMI, Mfg (previous 61.2)

 



 

 

9:45 AM ET. September US Flash Services PMI

 



 

 

                       PMI, Services (previous 55.2)

 



 

 

10:00 AM ET. August Leading Indicators

 



 

 

                       Leading Index, M/M% (previous +0.9%)

 



 

 

                       Leading Index (previous 116.0)

 



 

 

                       Coincident Index, M/M% (previous +0.6%)

 



 

 

                       Lagging Index, M/M% (previous +0.6%)

 



 

 

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

 



 

 

                       Working Gas In Storage (Cbf) (previous 3006B)

 



 

 

                       Working Gas In Storage, Net Chg (Cbf) (previous +83B)

 

                        

 

11:00 AM ET. Sept. Federal Reserve Bank of Kansas City Survey of Tenth District Manufacturing

 



 

 

                       Mfg Activity Idx (previous 22)

 



 

 

                       6-Mo Exp Prod Idx (previous 46)

 



 

 

                       Mfg Composite Idx (previous 29)

 



 

 

                       6-Mo Exp Composite Idx (previous 36)

 



 

 

4:30 PM ET. Federal Discount Window Borrowings

 



 

 

4:30 PM ET. Foreign Central Bank Holdings

 



 

 

Friday, September 24, 2021  

 



 

 

10:00 AM ET. August New Residential Sales

 



 

 

                       New Home Sales (previous 708K)

 



 

 

                       New Home Sales, M/M% (previous +1.0%)

 



 

 

                       New Home Sales Months Supply (previous 6.2)

 



 

 

Monday, September 27, 2021  

 



 

 

8:30 AM ET. August Advance Report on Durable Goods

 



 

 

                       Durable Goods-SA, M/M% (previous -0.1%)

 



 

 

                       Dur Goods, Ex-Defense, M/M% (previous -1.2%)

 



 

 

                       Dur Goods, Ex-Transport, M/M% (previous +0.7%)

 



 

 

                       Orders: Cap Gds, Non-Def, Ex-Air, M/M% (previous +0%)

 

                        

 

                       Shipmnts: Cap Gds, Non-Def, Ex-Air, M/M% (previous +1.0%)

 

                       Ex-Air, M/M%

 



 

 

10:30 AM ET. September Texas Manufacturing Outlook Survey

 



 

 

                       Business Activity (previous 9.0)

 



 

 

                       Mfg Production Idx (previous 20.8)

 


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

 



 

The STOCK INDEXES: The December NASDAQ 100 was higher overnight as it consolidated some of Monday's sharp decline but remains below broken support marked by the 50-day moving average crossing at 15,159.52. Overnight strength 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 December extends Monday's decline, August's low crossing at 14,699.00 is the next downside target. Closes above last-Wednesday's high crossing at 15,532.50 would temper the near-term bearish outlook. First resistance is last-Wednesday's high crossing at 15,532.50. Second resistance is the September 7th high crossing at 15,702.25. First support is August's low crossing at 14,699.00. Second support is July's low crossing at 14,437.00.  



The December S&P 500 was higher overnight as it consolidates some of Monday's sharp decline but remain below broken support marked by the 50-day moving average crossing at 4421.64. Overnight strength sets the stage for a steady to higher opening when the day session begins trading later this morning. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends this month's decline, July's low crossing at 4214.50 is the next downside target. Closes above the 20-day moving average crossing at 4471.20 would temper the near-term bearish outlook. First resistance is the 20-day moving average crossing at 4471.20. Second resistance is the September 3rd high crossing at 4549.50. First support is July's low crossing at 4214.50. Second support is June's low crossing at 4117.00.



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



INTEREST RATES: December T-bonds were lower overnight as it extends the July-September trading range. Overnight weakness sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are neutral signaling that sideways trading is likely near-term. Closes below September's low crossing at 161-20 would signal that a short-term top has been posted while opening the door for additional weakness near-term. If December extends the rally off last-Friday's low, last-Wednesday's high crossing at 164-24 is the next upside target. First resistance is last-Wednesday's high crossing at 164-24. Second resistance is August's high crossing at 165-12. First support is September's low crossing at 161-20. Second support is the August's low crossing at 161-01.



December T-notes were lower overnight while extending the July-September trading range. Overnight weakness sets the stage for a steady to lower opening with the day session begins trading. Stochastics and the RSI are neutral signaling that sideways trading is possible near-term. Multiple closes below August's low crossing at 132.215 would mark a downside breakout of the July-September trading range while opening the door for a possible test of the July 14th low crossing at 132.100. Closes above the 50-day moving average crossing at 133.139 would temper the near-term bearish outlook. Closes above the September 3rd high crossing at 133.280 are needed to open the door for a possible test of the August 17th high crossing at 134.005. First resistance is the August 17th high crossing at 134.005. Second resistance is August's high crossing at 134.265. First support is August's low crossing at 132.215. Second support is the July 14th low crossing at 132.100.   



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



ENERGIES:November crude oil was higher overnight following a three-day sell off. Overnight strength sets the stage for a steady to higher 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. Closes below the 50-day moving average crossing at $68.76 would signal that a short-term top has been posted while opening the door for additional weakness near-term. If November resumes the rally off August's low, July's high crossing at $73.58 is the next upside target. First resistance is last-Wednesday's high crossing at $72.87. Second resistance is July's high crossing at $73.58. First support is the 50-day moving average crossing at $68.76. Second support is September's low crossing at $66.92.



November heating oil was higher overnight as it consolidates some of Monday's decline. 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 bearish signaling that a short-term top might be in or is near. Closes below the 50-day moving average crossing at $2.1107 would signal that a short-term top has been posted while opening the door for additional weakness near-term. If November resumes the rally off August's low, the October-2018 high crossing at $2.2592 is the next upside target. First resistance is last-Wednesday's high crossing at $2.2225. Second resistance is the October-2018 high crossing at $2.2592. First support is the 50-day moving average crossing at 2.1107. Second support is September's low crossing at $2.0854. 



November unleaded gas was steady to slightly higher overnight as it consolidates some of the decline off last-Wednesday's high. Overnight strength 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 2.0547 would signal that a short-term top has been posted. If November extends the rally off August's low, the July high on the monthly continuation chart crossing at 236.96 is the next upside target. First resistance is last-Wednesday's high crossing at 2.1709. Second resistance is the July high on the monthly continuation chart crossing at 236.96. First support is the 50-day moving average crossing at 2.0547. Second support is September's low crossing at 2.0225. 



November Henry natural gas was steady to slightly lower overnight as it extends the sell off from last-Wednesday's high. Overnight weakness sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 4.792 would signal that a short-term top has been posted while opening the door for additional weakness near-term. If November resumes the rally off August's low, the 50% retracement level of the 2008-2020-decline crossing at 5.832 is the next upside target. First resistance resistance is the 50% retracement level of the 2008-2020-decline crossing at 5.832. Second resistance is the 62% retracement level of the 2008-2020-decline crossing at 6.671. First support is the 20-day moving average crossing at 4.792. Second support is the September 7th low crossing at 4.608.    



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



CURRENCIES:The December Dollar was lower overnight as it consolidates some of this month's rally. 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, August's high crossing at $93.71 is the next upside target. Closes below the 50-day moving average crossing at $92.67 would signal that a short-term top has been posted. First resistance is Monday's high crossing at $93.45. Second resistance is August's high crossing at $93.71. First support is last-Wednesday's low crossing at $92.29. Second support is the September 3rd low crossing at $91.94.



The December Euro was higher overnight as it consolidates some of the decline off the September 3rd 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 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 $116.90 is the next downside target. Closes above the 20-day moving average crossing at $118.21 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at $118.21. Second resistance is September's high crossing at $119.32. First support is Monday's low crossing at $117.20. Second support is August's low crossing at $116.90.



The December British Pound was higher overnight as it consolidates some of this month's decline. Overnight strength sets the stage for a steady to higher 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 December extends this month's decline, August's low crossing at 1.3608 is the next downside target. Closes above the 50-day moving average crossing at 1.3800 would signal that a short-term low has been posted.First resistance is the 50-day moving average crossing at 1.3800. Second resistance is September's high crossing at 1.3917. First support is August's low crossing at 1.3608. Second support is July's low crossing at 1.3576.  



The December Swiss Franc was higher overnight as it consolidates some of the decline off August's high. Overnight strength sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are oversold but are turning neutral to bullish signaling that sideways to higher prices possible near-term. Closes above the 20-day moving average crossing at 1.0908 would signal that a short-term low has been posted. If December extends this month's decline, March's low crossing at 1.0654 is the next downside target. First resistance is the 10-day moving average crossing at 1.0858. Second resistance is the 20-day moving average crossing at 1.0908. First support is the 87% retracement level of the March-June-rally crossing at 1.0730. Second support is March's low crossing at 1.0654. 

 

The December Canadian Dollar was higher overnight as it consolidated some of the decline off September's high. Overnight strength 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. If December extends this month's decline, August's low crossing at $77.24 is the next downside target. Closes above the 50-day moving average crossing at $79.30 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at $79.30. Second resistance is the September 3rd high crossing at 80.09. First support is Monday's low crossing at $77.54. Second support is August's low crossing at $77.24.



The December Japanese Yen was steady to slightly lower overnight as it extends the July-September trading range. Overnight weakness sets the stage for a steady to lower 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. From a broad perspective December needed to close above August's high crossing at 0.092040 or below August's low crossing at 0.090390 to confirm a breakout of the aforementioned trading range and point the direction of the next trending move. First resistance is the September 15th high crossing at 0.091715. Second resistance is August's high crossing at 0.092040. First support is the August 11th low crossing at 0.090390. Second support is July's low crossing at 0.089690.

 

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



PRECIOUS METALS:Decembergold was higher overnight as it consolidates some of last week's decline. Overnight strength sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are oversold but are turning neutral to bullish signaling that a low might be in or is near. Closes above the 50-day moving average crossing at $1796.70 would signal that a short-term low has been posted. If December extends the decline off September's high, August's low crossing at $1677.90 is the next downside target. First resistance is last-Tuesday's high crossing at $1810.60. Second resistance is the September 3rd high crossing at $1836.90. First support is Monday's low crossing at $1742.30. Second support is August's low crossing at $1677.90.



December silver was higher overnight as it consolidates some of this month's decline. Overnight strength sets the stage for a steady to higher opening when the day session begins trading later this morning. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends this month's decline, the 50% retracement level of the 2020-2021-rally crossing at $21.120 is the next downside target. Closes above last-Thursday's high crossing at $24.000 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at $24.334. Second resistance is the September 3rd high crossing at $24.945. First support is Monday's low crossing at $22.025. Second support is the 50% retracement level of the 2020-2021-rally crossing at $21.120. 



December copper was higher overnight as it consolidates some of the decline off September's 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends this month's decline, August's low crossing at 3.9615 is the next downside target. Closes above the 50-day moving average crossing at 4.3119 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at 4.3119. is September's high crossing at 4.4715. First support is Monday's low crossing at 4.0940. Second support is August's low crossing at 3.9615.



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



December corn was lower overnight as it extends the decline off last-Thursday's high.Overnight weakness sets the stage for a lower 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 December renews the decline off August's high, the April 1st gap crossing at $4.77 1/2 is the next downside target. If December extends the rally off September's low, the 50-day moving average crossing at $5.44 is the next upside target. Closes above the 50-day moving average crossing at $5.44 are needed to to temper the near-term bearish outlook. First resistance is the 50-day moving average crossing at $5.44. Second resistance is the August 30th high crossing at $5.58. First support is September's low crossing at $4.97 1/2. Second support is the April 1st gap crossing at $4.77 1/2.  



December wheat was lower overnight as it consolidates some of the rally off September's low. Overnight weakness sets the stage for a steady to lower 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 December resumes the decline off August's high, the 75% retracement level of the July-August rally crossing at $6.60 1/4 is the next downside target. Closes above the 50-day moving average crossing at $7.17 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at $7.17. Second resistance is the September 7th high crossing at $7.33 1/4. First support is the 62% retracement level of the July-August-rally crossing at $6.82 1/2. Second support is the 75% retracement level of the July-August rally crossing at $6.60 1/4.

 

December Kansas City wheat was lower overnight as it consolidates some of the rally off September's low. Overnight weakness sets the stage for a steady to slightly 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. Closes below the 50-day moving average crossing at $7.00 1/2 would temper the near-term friendly outlook. If December extends the rally off last-Friday's low, the September 7th high crossing at $7.29 3/4 is the next upside target. First resistance is the September 7th high crossing at $7.29 3/4. Second resistance is the August 27th high crossing at $7.35 1/2. First support is the 50% retracement level of the July-August rally crossing at $6.79 1/2. Second support is the 62% retracement level of the July-August rally crossing at $6.58 1/2.  



December Minneapolis wheat was lower overnight as it consolidates some of the rally off September's low. Overnight weakness sets the stage for a steady to lower 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 December resumes the decline off August's high, the 25% retracement level of the 2020-2021-rally crossing at $8.44 3/4 is the next downside target. If December extends last-week's rally, the August 30th high crossing at $9.27 is the next upside target. First resistance is the September 7th high crossing at $9.15. Second resistance is the August 30th high crossing at $9.27. First support is September's low crossing at $8.61 1/2. Second support is the 25% retracement level of the 2020-2021-rally crossing at $8.44 3/4.  

     

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



November soybeans were steady to slightly higher overnight as it consolidates some of Monday's decline. Overnight strength set 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 November resumes the decline off August's high, the June 25th low crossing at $12.59 3/4 is the next downside target. Closes above last-Thursday's high crossing at $13.08 would signal that a short-term low has been posted. First resistance is last-Thursday's high crossing at $13.08. Second resistance is the 50-day moving average crossing at $13.27 1/2. First support is the June 25th low crossing at $12.59 3/4. Second support is June's low crossing at $12.40 1/2.

 

December soybean meal was steady to slightly lower overnight. Overnight weakness sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are neutral signaling that sideways trading is possible near-term. Closes above last-Tuesday's high crossing at $347.30 would signal that a short-term low has been posted. If December resumes the decline off August's high, the 75% retracement level of the 2020-2021-rally crossing at $324.40 is the next downside target. First resistance is last-Tuesday's high crossing at $347.30. Second resistance is the 50-day moving average crossing at $353.50. First support is September's low crossing at $335.40. Second support is the 75% retracement level of the 2020-2021-rally crossing at $324.40.


December soybean oil was higher overnight as it consolidates some of its recent losses. Overnight strength 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 sideways to lower prices are possible near-term. If December extends the decline off July's high, June's low crossing at 51.98 is the next downside target. Closes above the 20-day moving average crossing at 57.91 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 57.91. Second resistance is the 50-day moving average crossing at 60.50. First support is the overnight low crossing at 54.79. Second support is June's low crossing at 51.98.     

    

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



October hogs closed down $0.68 at $85.05. 



October hogs closed lower on Monday as it consolidated some of the rally off last-Tuesday's low. The mid-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. Closes above the 50-day moving average crossing at $88.07 would signal that a short-term low has been posted. If October renews this month's decline, the 62% retracement level of the 2020-2021-rally crossing at $76.13 is the next downside target. First resistance is the 20-day moving average crossing at $86.67. Second resistance is the 50-day moving average crossing at $88.07. First support is last-Tuesday's low crossing at $79.77. Second support is the 62% retracement level of the 2020-2021-rally crossing at $76.13. 



October cattle closed down $0.18 at $122.63. 



October cattle closed lower on Monday. The high-range close sets the stage for a steady to slightly lower opening on Tuesday. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If October renews the decline off August's high, June's low crossing at $122.90 is the next downside target. Closes above the 20-day moving average crossing at $125.99 are needed to confirm that a short-term low has been posted. First resistance is last-Tuesday's high crossing at $125.05. Second resistance is the 20-day moving average crossing at $125.99. First support is the 38% retracement level of the 2020-2021-rally crossing at $120.96. Second support is June's low crossing at $122.90.



October Feeder cattle closed up $0.33 at $156.70. 



October feeder cattle closed higher on Monday as it extends last-week's trading range. The high-range close sets the stage for a steady to higher 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 October extends the decline off August's high, the 75% retracement level of the May-August-rally crossing at $152.42 is the next downside target. Closes above the 20-day moving average crossing at $162.79 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at $157.66. Second resistance is the 20-day moving average crossing at $162.79. First support is the 62% retracement level of the May-August-rally crossing at $155.98. Second support is the 75% retracement level of the May-August-rally crossing at $152.42.  



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



December coffee closed lower on Monday as it extends the trading range of the past two-weeks. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Today's close below the 50-day moving average crossing at $184.33 has opened the door for additional weakness and a possible test of August's low crossing at $174.50. Closes above the 20-day moving average crossing at $189.47 would signal that a short-term low has been posted. 



December cocoa closed sharply lower on Monday as it renewed the decline off September's high. 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 lower prices are possible near-term. Closes below last-Friday's low crossing at 25.97 signals that a short-term top has been posted. If December resumes the rally off July's low, the November 2020 high on the weekly continuation chart crossing at 28.21 is the next upside target.                           



October sugar closed lower on Monday. 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 lower prices are possible near-term. Closes below the 50-day moving average crossing at 18.86 would open the door for a possible test of August's low crossing at 18.80. Closes above the 20-day moving average crossing at 19.49 would signal that a short-term low has been posted.       



December cotton closed sharply lower on Monday as it extended the decline off August's high. The low-range close sets the stage for a lower opening on Tuesday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off August's high, the July 19th low crossing at 86.35 is the next downside target. 

Comments
By metmike - Sept. 21, 2021, 2:59 p.m.
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Thanks tallpine!