KEY EVENTS TO WATCH FOR:
Thursday, October 14, 2021
8:30 AM ET. Unemployment Insurance Weekly Claims Report - Initial Claims
Jobless Claims
Jobless Claims, Net Chg
Continuing Claims
Continuing Claims, Net Chg
8:30 AM ET. September PPI
PPI, M/M% (previous +0.7%)
Ex-Food & Energy PPI, M/M% (previous +0.6%)
Personal Consumption (previous +0.8%)
9:45 AM ET. Bloomberg Consumer Comfort Index
10:30 AM ET. EIA Weekly Natural Gas Storage Report
Working Gas In Storage (Cbf)
Working Gas In Storage, Net Chg (Cbf)
11:00 AM ET. EIA Weekly Petroleum Status Report
Crude Oil Stocks (Bbl)
Crude Oil Stocks, Net Chg (Bbl)
Gasoline Stocks (Bbl)
Gasoline Stocks, Net Chg (Bbl)
Distillate Stocks (Bbl)
Distillate Stocks, Net Chg (Bbl)
Refinery Usage
Total Prod Supplied (Bbl/day)
Total Prod Supplied, (Bbl/day) Net Chg
1:00 PM ET. IMF Debate on the Global Economy
4:30 PM ET. Federal Discount Window Borrowings
4:30 PM ET. Foreign Central Bank Holdings
Friday, October 15, 2021
8:30 AM ET. October Empire State Manufacturing Survey
Mfg Idx (previous 34.3)
Employment Idx (previous 20.5)
New Orders Idx (previous 33.7)
Prices Received (previous 47.8)
8:30 AM ET. September Advance Monthly Sales for Retail & Food Services
Overall Sales-SA, M/M% (previous +0.7%)
Sales, Ex-Auto, M/M% (previous +1.8%)
Sales, Ex-Auto & Gas, M/M% (previous +2.0%)
8:30 AM ET. September Import & Export Price Indexes
Import Prices (previous -0.3%)
Non-Petroleum Prices (previous -0.1%)
Petroleum Prices (previous -2.4%)
8:30 AM ET. U.S. Weekly Export Sales
Corn (Metric Tons) (previous 1265.1K)
Soybeans (Metric Tons) (previous 1041.9K)
Wheat (Metric Tons) (previous 333.2K)
10:00 AM ET. August Manufacturing & Trade: Inventories & Sales
Total Inventories (previous +0.5%)
10:00 AM ET. October University of Michigan Survey of Consumers – preliminary
Mid-Mo Sentiment (previous 71.0)
Mid-Mo Expectations (previous 67.1)
Mid-Mo Current Idx (previous 77.1)
Monday, October 18, 2021
9:15 AM ET. September Industrial Production & Capacity Utilization
Industrial Production, M/M% (previous +0.4%)
Capacity Utilization % (previous 76.4%)
Capacity Utilization, Net Chg (Pts) (previous +0.2)
10:00 AM ET. October NAHB Housing Market Index
Housing Mkt Idx (previous 76)
Tuesday, October 19, 2021
7:45 AM ET. Weekly Chain Store Sales Index
8:30 AM ET. September New Residential Construction - Housing Starts and Building Permits
Total Starts (previous 1.615M)
Housing Starts, M/M% (previous +3.9%)
Building Permits (previous 1.728M)
Building Permits, M/M% (previous +6.0%)
8:55 AM ET. Johnson Redbook Retail Sales Index
Ret Sales Mo-to-Date, M/M%
Ret Sales Mo-to-Date, Y/Y%
Latest Wk, Y/Y%
4:30 PM ET. API Weekly Statistical Bulletin
Crude Stocks, Net Chg (Bbls)
Gasoline Stocks, Net Chg (Bbls)
Distillate Stocks, Net Chg (Bbls)
Wednesday, October 20, 2021
7:00 AM ET. MBA Weekly Mortgage Applications Survey
Composite Idx
Composite Idx, W/W%
Purchase Idx-SA
Purchase Idx-SA, W/W%
Refinance Idx
Refinance Idx, W/W%
10:30 AM ET. EIA Weekly Petroleum Status Report
Crude Oil Stocks (Bbl)
Crude Oil Stocks, Net Chg (Bbl)
Gasoline Stocks (Bbl)
Gasoline Stocks, Net Chg (Bbl)
Distillate Stocks (Bbl)
Distillate Stocks, Net Chg (Bbl)
Refinery Usage
Total Prod Supplied (Bbl/day)
Total Prod Supplied, (Bbl/day) Net Chg
The STOCK INDEXES? http://quotes.ino.com/ex?changes/?c=indexes
The STOCK INDEXES: The December NASDAQ 100 was steady to higher overnight following a three-day correction off last-Thursday'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 resumes the decline off September's high, the 38% retracement of the 2020-2021-rally crossing at 13,825.88 is the next downside target. Closes above last-Thursday's high crossing at 15,001.25 would renew the rally off October's low while opening the door for a test of the 50-day moving average crossing at 15,144.77. First resistance is last-Thursday's high crossing at 15,001.25. Second resistance is the 50-day moving average crossing at 15,144.77. First support is the 25% retracement of the 2020-2021-rally crossing at 14,474.38. Second support is the 38% retracement of the 2020-2021-rally crossing at 13,825.88.
The December S&P 500 was steady to higher overnight as it consolidates some of the decline off last-Thursday's high.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 neutral to bearish signaling that sideways to lower prices are possible near-term. If December renews the decline off September's high, July's low crossing at 4214.50 is the next downside target. Closes above the 50-day moving average crossing at 4423.17 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at 4423.17. Second resistance is the September 27th high crossing at 4472.00. First support is July's low crossing at 4214.50. Second support is the 25% retracement level of the 2020-2021-rally crossing at 42101.63.
INTEREST RATES http://quotes.ino.com/ex changes/?c=interest"
INTEREST RATES: December T-bonds were higher overnight as they consolidates 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 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 160-14 would signal that a short-term low has been posted. If December resumes the decline off September's high, the 75% retracement level of the March-August rally crossing at 155-23 is the next downside target. First resistance is last-Monday's high crossing at 160-20. Second resistance is the 50-day moving average crossing at 162-01. First support is the June 16th low crossing at 156-15. Second support is the 75% retracement level of the March-August rally crossing at 155-23.
December T-notes were higher overnight as they consolidate some of the decline off August's high. Overnight strength sets the stage for a steady to higher opening with 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 August's, the 87% retracement level of the March-August rally crossing at 130.207 is the next downside target. Closes above the 20-day moving average crossing at 131.311 would temper the near-term bearish outlook. First resistance is the 20-day moving average crossing at 131.311. Second resistance is the October 4th high crossing at 132.085. First support is the 87% retracement level of the March-August rally crossing at 130.207. Second support is March's low crossing at 130.010.
ENERGY MARKETS? http://quotes.ino.com/ex?changes/?c=energy ""
ENERGIES:November crude oil was steady to lower overnight as it consolidates some of the rally off August's low. Overnight weakness 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 November extends the rally off August's low, the October-2014 high on the monthly continuation chart crossing at $92.96 is the next upside target. Closes below the 20-day moving average crossing at $75.68 would signal that a short-term top has been posted while opening the door for additional weakness near-term. First resistance is Monday's high crossing at $82.18. Second resistance is the October-2014 high on the monthly continuation chart crossing at $92.96. First support is the 20-day moving average crossing at $75.68. Second support is the 50-day moving average crossing at $70.92.
November heating oil was steady to lower overnight as it consolidates some of its recent gains. 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 November extends the rally off August's low, the 62% retracement level of the 2008-2020-decline on the monthly continuation chart crossing at $2.7919 is the next upside target. Closes below the 20-day moving average crossing at $2.3445 would signal that a short-term top has been posted. First resistance is Monday's high crossing at $2.5376. Second resistance is the 62% retracement level of the 2008-2020-decline on the monthly continuation chart crossing at $2.7919. First support is the 10-day moving average crossing at $2.4545. Second support is the 20-day moving average crossing at 2.3446.
November unleaded gas was steady to lower overnight as it consolidates some of the rally off August's low. The low-range trade overnight 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 November extends the rally off August's low, the 75% retracement level of the 2008-2020-decline on the monthly continuation chart crossing at 2.8181 is the next upside target. Closes below the 20-day moving average crossing at 2.2224 would signal that a short-term top has been posted. First resistance is Monday's high crossing at 2.4115. Second resistance is the 75% retracement level of the 2008-2020-decline on the monthly continuation chart crossing at 281.81. First support is the 10-day moving average crossing at 2.3246. Second support is the 20-day moving average crossing at 2.2224.
November Henry natural gas was lower overnight as it remains poised to extend the decline off 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 neutral to bearish signaling that sideways to lower prices are possible near-term. If November extends the aforementioned decline, the 50-day moving average crossing at 4.829 is the next downside target. Closes above last-Friday's high crossing at 5.876 would signal that a short-term low has been posted. First resistance is last-Wednesday's high crossing at 6.466. Second resistance is the 62% retracement level of the 2008-2020-decline crossing at 6.671. First support is the 50-day moving average crossing at 4.829. Second support is the September 21st low crossing at 4.766.
CURRENCIEShttp://quotes.ino.com/ex changes/?c=currencies"
CURRENCIES:The December Dollar was lower in late-overnight trading as it consolidates some of Tuesday's rally, which posted a new contract high. Stochastics and the RSI are overbought, diverging but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off September's low, the 38% retracement level of the 2020-2021-decline on the weekly continuation chart crossing at $94.82 is the next upside target. Closes below the 20-day moving average crossing at $93.78 would signal that a short-term top has been posted. First resistance is Tuesday's high crossing at $94.57. Second resistance is the 38% retracement level of the 2020-2021-decline on the weekly continuation chart crossing at $94.82. First support is the 20-day moving average crossing at $93.78. Second support is the 50-day moving average crossing at 93.15.
The December Euro was steady to higher overnight as it consolidates some of Tuesday'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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off September's high, the 62% retracement level of the 2020-2021-rally crossing at $114.56 is the next downside target. Closes above the 20-day moving average crossing at $116.57 would signal that a short-term low has been posted. First resistance is last-Monday's high crossing at $116.56. Second resistance is the 20-day moving average crossing at $116.57. First support is Tuesday's low crossing at $115.38. Second support is the 62% retracement level of the 2020-2021-rally crossing at $114.56.
The December British Pound was steady to higher overnight. Overnight strength sets the stage for a steady to higher opening when the day session beings trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above Monday's high crossing at 1.3675 are needed to renew the rally off September's low.If December renews the decline off September's high, the 38% retracement level of the 2020-2021-rally crossing at 1.3223 is the next downside target. First resistance is Monday's high crossing at 1.3675. Second resistance is the 50-day moving average crossing at 1.3730. First support is the September 29thlow crossing at 1.3412. Second support is the 38% retracement level of the 2020-2021-rally crossing at 1.3223.
The December Swiss Franc was steady to higher in late-overnight trading. Overnight strength sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI remain neutral to bullish signaling that sideways to higher prices possible near-term. Closes above last-Monday's high crossing at 1.0853 are needed to signal that a short-term low has been posted while opening the door for additional gains near-term. If December renews the decline off August's high, March's low crossing at 1.0654 is the next downside target. First resistance is last-Monday's high crossing at 1.0853. Second resistance is the 50-day moving average crossing at 1.0883. First support is the September 30th low crossing at 1.0693. Second support is March's low crossing at 1.0654.
The December Canadian Dollar was steady to higher overnight as it extends the rally off September's low. Overnight strength 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 December extends the rally off September's low, the July 6th high crossing at $81.23 is the next upside target. Closes below the 20-day moving average crossing at $79.16 would signal that a short-term top has likely been posted. First resistance is the July 30th high crossing at 80.46. Second resistance is the July 6th high crossing at $81.23. First support is the 20-day moving average crossing at $79.16. Second support is the September 29th low crossing at $78.27.
The December Japanese Yen was steady to slightly higher in late-overnight trading as it consolidates some of the decline off September's high. Overnight strength 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. If December extends the decline off September's high, the November-2018 low on the monthly continuation chart crossing at 0.087675 is the next downside target. Closes above the 20-day moving average crossing at 0.089972 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 0.089972. Second resistance is the 50-day moving average crossing at 0.090633. First support is Tuesday's low crossing at 0.087915. Second support is the November-2018 low on the weekly continuation chart crossing at 0.087675.
PRECIOUS METALS http://quotes.ino.com/ex changes/?c=metals"
PRECIOUS METALS:Decembergold was higher overnight. Overnight strength 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 50-day moving average crossing at $1778.10 would signal that a short-term low has been posted. If December renews the decline off September's high, August's low crossing at $1677.90 is the next downside target. First resistance is the 50-day moving average crossing at $1778.10. Second resistance is the September 14th high crossing at $1810.60. First support is the September 29th low crossing at $1721.10. Second support is August's low crossing at $1677.90.
December silver was steady to higher overnight. The high-range 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 bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at $23.370 would signal that a short-term low has been posted. If December renews the decline off September's high, the 50% retracement level of the 2020-2021-rally crossing at $21.120 is the next downside target. First resistance is the 50-day moving average crossing at $23.370. Second resistance is the September 16th high crossing at $24.000. First support is the September 29th low crossing at $21.410. Second support is the 50% retracement level of the 2020-2021-rally crossing at $21.120.
December copper was higher overnight as it extends the rally off September'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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off September's low, September's high crossing at 4.4690 is the next upside target. Closes below the 20-day moving average crossing at 4.2366 would signal that a short-term low has been posted. First resistance is the overnight high crossing at 4.4020. Second resistance is September's high crossing at 4.4715. First support is September's low crossing at 4.0160. 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 Tuesday's decline.The low-range trade overnight sets the stage for a steady to lower opening when the day sessions begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends Tuesday's decline, the September 21th low of $5.12 3/4 is the next downside target. Closes above the September 30th high crossing at $5.48 1/2 would open the door for a possible test of the August 30th high crossing at $5.58. First resistance is the September 30th high crossing at $5.48 1/2. Second resistance is the August 30th high crossing at $5.58. First support is the September 21th low crossing at $5.12 3/4. Second support is the September's low crossing at $4.97 1/2.
December wheat was steady to slightly higher overnight. 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 20-day moving average crossing at $7.25 would signal that a short-term top has been posted. If December resumes the rally off September's low, August's high crossing at $7.86 1/2 is the next upside target. First resistance is last-Monday's high crossing at $7.63 1/2. Second resistance is August's high crossing at $7.86 1/2. First support is the 20-day moving average crossing at $7.25. Second support is the September 30th crossing at $7.1 1/4.
December Kansas City wheat was lower overnight as it consolidates some Tuesday's rally. 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. Closes below the 50-day moving average crossing at $7.20 1/2 would signal that a short-term top has been posted. If December resumes the rally off September's low, August's high crossing at $7.69 is the next upside target. First resistance is last-Monday's high crossing at $7.64 1/4. Second resistance is August's high crossing at $7.69. First support is the 20-day moving average crossing at $7.26 1/4. Second support is the 50-day moving average crossing at $7.20 1/2.
December Minneapolis wheat was steady to fractionally higher overnight as it extends the rally off September's low. Overnight strength 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 December extends the rally off September's low, weekly resistance crossing at $9.83 1/2 is the next upside target. Closes below the 50-day moving average crossing at $9.10 1/4 would signal that a short-term top has been posted while opening the door for additional weakness near-term. First resistance is Tuesday's high crossing at $9.60. Second resistance is weekly resistance crossing at $9.83 1/2. First support is the 10-day moving average crossing at $9.38. Second support is the 50-day moving average crossing at $9.10 1/4.
SOYBEAN COMPLEX? http://quotes.ino.com/ex?changes/?c=grains "
November soybeans were higher overnight as it consolidates some of Tuesday's sharp 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, March's low crossing at $11.84 is the next downside target. Closes above the 20-day moving average crossing at $12.58 1/2 would signal that a short-term low has been posted while opening the door for a possible test of the 50-day moving average crossing at $12.91 3/4. First resistance is the 20-day moving average crossing at $12.58 1/2. Second resistance is the 50-day moving average crossing at $12.91 3/4. First support is Tuesday's low crossing at $11.94 3/4. Second support is March's low crossing at $11.84.
December soybean meal was steady to lower overnight as it extends the decline off September's high. Overnight weakness 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 December extends the decline off August's high, the 87% retracement level of the 2020-2021-rally crossing at $307.30 is the next downside target. Closes above the 20-day moving average crossing at $330.60 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $320.20. Second resistance is the 20-day moving average crossing at $330.60. First support is the overnight low crossing at $310.70. Second support is the 87% retracement level of the 2020-2021-rally crossing at $307.30.
December soybean oil was higher overnight signaling a possible end to the decline off last-Friday's high. 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 20-day moving average crossing at 58.45 would signal that a short-term top has been posted. If December extends the rally off September's low, the August 16th high crossing at 64.00 is the next upside target. First resistance is last-Friday's high crossing at 63.08. Second resistance is the August 16th high crossing at 64.00. First support is the 20-day moving average crossing at 58.45. Second support is September's low crossing at 54.18.
LIVESTOCKhttp://quotes.ino.com/exchanges/?c=livestock
December hogs closed down $2.10 at $78.08.
December hogs closed lower on Tuesday as it extended the decline off October's high and closed below the 20-day moving average crossing at $79.24 signaling that a short-term top has been posted. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the aforementioned decline, the September 27th gap crossing at $77.20 is the next downside target. Closes above the 10-day moving average crossing at $82.33 would signal that a short-term low has been posted. First resistance is Monday's gap crossing at $81.43. Second resistance is the 10-day moving average crossing at $82.33. First support is the September 27th gap crossing at $77.20. Second support is September's low crossing at $71.27.
December cattle closed down $0.85 at $129.33.
December cattle closed lower on Tuesday as it consolidates some of the rally off October's low. The low-range close sets the stage for a steady to lower opening on Wednesday. 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, the 50-day moving average crossing at $131.08 is the next upside target. Closes below last-Wednesday's low crossing at $127.13 would signal that a short-term top has been posted. First resistance is last-Friday's high crossing at $130.60. Second resistance is the 50-day moving average crossing at $131.08. First support is last-Wednesday's low crossing at $127.13. Second support is October's low crossing at $125.00.
November Feeder cattle closed up $0.33 at $162.05.
November feeder cattle closed higher on Tuesday as it extends the rally off September's low. The high-range close sets the stage for a steady to higher opening when Wednesday's 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 November extends the aforementioned rally, the 50-day moving average crossing at $162.91 is the next upside target. Closes below the 20-day moving average crossing at $157.49 would signal that a short-term top has been posted. First resistance is today's high crossing at $162.48. Second resistance is the 50-day moving average crossing at $162.91. First support is the 20-day moving average crossing at $157.49. Second support is September's low crossing at $152.00. Third support is the 87% retracement level of the May-August-rally crossing at $151.04.
FOOD & FIBERhttp://quotes.ino.com/ex changes/?c=food
December coffee closed sharply higher on Tuesday. The high-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off September's low, July's high crossing at $217.86 is the next upside target. Closes below the 50-day moving average crossing at $189.76 would signal that a short-term top has been posted.
December cocoa closed lower on Tuesday. The low-range close sets the stage for a steady to lower opening on Wednesday. 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 26.57 would signal 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.
March sugar closed lower on Tuesday as it extend the trading range of the past-four weeks. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above 20.38 or below 19.31 are needed to confirm a breakout of the September-October trading range.
December cotton closed lower on Tuesday as it extends the decline off last-Friday's high. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 100.51 would signal that a short-term top has been posted. If December extends the rally off September's low, the 50% retracement level of the 2011-2020 decline on the monthly continuation chart crossing at 134.17 is the next upside target.
Thanks tallpine!