Friday, December 10, 2021

8:30 AM ET. November CPI

                       CPI, M/M% (previous +0.9%)

                       Core CPI, M/M% (previous +0.6%)

                       Energy Idx, M/M% (previous +4.8%)

                       Food Idx, M/M% (previous +0.9%)

                       Real Avg Wkly Pay-Infla Adj, M/M% (previous -0.9%)

                       CPI, Y/Y% (previous +6.2%)

                       Core Annual, Y/Y% (previous +4.6%)

8:30 AM ET. November Real Earnings

10:00 AM ET. 3^rd Quarter Quarterly Services

10:00 AM ET. December University of Michigan Survey of Consumers – preliminary

                       Mid-Mo Sentiment (previous 66.8)

                       Mid-Mo Expectations (previous 62.8)

                       Mid-Mo Current Idx (previous 73.2)

2:00 PM ET. November Monthly Treasury Statement of Receipts & Outlays of the U.S. Govt.

Monday, December 13, 2021 

11:00 AM ET. ISM Semiannual Report On Business Economic Forecast

Tuesday, December 14, 2021  

N/A   1^st Quarter Manpower U.S. Employment Outlook Survey

6:00 AM ET. November NFIB Index of Small Business Optimism

                       Small Business Idx (previous 98.2)

7:45 AM ET. Weekly Chain Store Sales Index

8:30 AM ET. November PPI

                       PPI, M/M% (previous +0.6%)

                       Ex-Food & Energy PPI, M/M% (previous +0.4%)

                       Personal Consumption (previous +0.5%)

8:55 AM ET. Johnson Redbook Retail Sales Index

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

                       Ret Sales Mo-to-Date, Y/Y% (previous +15.3%)

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

4:30 PM ET. API Weekly Statistical Bulletin

                       Crude Stocks, Net Chg (Bbls) (previous -3.1M)

                       Gasoline Stocks, Net Chg (Bbls) (previous +3.7M)

                       Distillate Stocks, Net Chg (Bbls) (previous +1.2M)

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

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

The STOCK INDEXES: The December NASDAQ 100 was steady to higher overnight.Overnight trading 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 this week's rally, November's high crossing at 16,767.50 is the next upside target. Closes below the 50-day moving average crossing at 15,742.90 would signal that a short-term low has been posted. First resistance is the November 30^th high crossing at 16,456.25. Second resistance is November's high crossing at 16,767.50. First support is the 50-day moving average crossing at 15,742.90. Second support is the October 22^nd low crossing at 15,273.75.

The December S&P 500 was steady to higher overnight.Overnight trading 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. If December extends the rally off last-Friday's low, November's high crossing at 4740.50 is the next upside target. Closes below the 50-day moving average crossing at 4566.97 would signal that a short-term low has been posted. First resistance is the November 26^th high crossing at 4717.00. Second resistance is the November 22^nd high crossing at 4740.50. First support is the 10-day moving average crossing at 4616.65. Second support is the 50-day moving average crossing at 4566.96. 

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

INTEREST RATES: March T-bonds was lower overnight. Overnight trading 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 20-day moving average crossing at 160-16 are needed to confirm that a short-term top has been posted. If March resumes the rally off October's low, August's high crossing at 164-20 is the next upside target. First resistance is last-Friday's high crossing at 164-12. Second resistance is the August high crossing at 164-20. First support is the 20-day moving average crossing at 160-16. Second support is the 50-day moving average crossing at 159-07.

March T-notes was steady to lower overnight. Overnight trading sets the stage for a steady to lower opening with 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 130.030 would signal that a short-term top has been posted. If March resumes the aforementioned rally, the 62% retracement level of the August-November decline crossing at 132.065. First resistance is the 50% retracement level of the August-November decline crossing at 131.171. Second resistance is the 62% retracement level of the August-November decline crossing at 132.065. First support is the 20-day moving average crossing at 130.030. Second support is November's low crossing at 128.225.   

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

ENERGIES:January crude oil was steady to higher overnight. Overnight trading sets the stage for 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 $73.20 would signal that a short-term low has been posted. If January renews the decline off October's high, August's low crossing at $60.77 is the next downside target. First resistance is the 20-day moving average crossing at $73.20. Second resistance is the 50-day moving average crossing at $77.40. First support is last-Thursday's low crossing at $62.43. Second support is August's low crossing at $60.77.

January heating oil was steady to higher overnight. Overnight trading 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 $2.2527 would confirm that a short-term low has been posted. If January resumes the decline off October's high, the 50% retracement level of the 2020-2021 rally crossing at $1.8820 is the next downside target. First resistance is the 20-day moving average crossing at $2.2527. Second resistance is the 50-day moving average crossing at $2.3891. First support is the 38% retracement level of the 2020-2021 rally crossing at $2.0477. Second support is the 50% retracement level of the 2020-2021 rally crossing at $1.8820.  

January unleaded gas was higher overnight and is poised to extend the rally off last-Thursday's low. The high-range trade overnight 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 are possible near-term. Multiple closes above the 20-day moving average crossing at 2.1302 would open the door for additional gains and a possible test of the 50-day moving average crossing at 2.2440. If January resumes the decline off October's high, the 87% retracement level of the August-October rally crossing at 1.8665 is the next downside target. First resistance is Thursday's high crossing at 2.1665. Second resistance is the 50-day moving average crossing at 2.2440. First support is the 87% retracement level of the August-October rally crossing at 1.8665. Second support is August's low crossing at 1.7830.

January Henry natural gas was steady to higher overnight as it extends this week's trading range. Overnight trading 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 January extends the decline off October's high, the 75% retracement level of the 2020-2021-rally crossing at 3.593 is the next downside target. Closes above Monday's gap crossing at 4.066 would signal that a short-term low has been posted. First resistance is Monday's gap crossing at 4.066. Second resistance is the 20-day moving average crossing at 4.575. Second resistance is the 50-day moving average crossing at 5.252. First support is the 75% retracement level of the 2020-2021-rally crossing at 3.593. Second support is the 87% retracement level of the 2020-2021-rally crossing at 3.100.     

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

CURRENCIES:The December Dollar was steady to higher overnight. Overnight trading 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 December renews the rally off September's low, the June-2020 high on the weekly continuation chart crossing at $97.81 is the next upside target. Closes below the November 30^th low crossing at $95.54 would confirm that a short-term top has been posted while opening the door for a possible test of the 50-day moving average crossing at $94.92. First resistance is November's high crossing at $96.94. Second resistance is the June-2020 high on the weekly continuation chart crossing at $97.81. First support is the November 30^th low crossing at $95.54. Second support is the 50-day moving average crossing at $94.92.

The December Euro was lower overnight as it extends the trading range of the past four-weeks. 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 bullish signaling that sideways to higher prices are possible near-term. Closes above the November 30^th high crossing at $113.86 would mark an upside breakout of the aforementioned trading range thereby opening the door for additional gains near-term. If December renews the decline off September's high, the 87% retracement level of the 2020-2021-rally crossing at $110.60 is the next downside target. First resistance is the November 30^th high crossing at $113.86. Second resistance is the 50-day moving average crossing at $114.82. First support is November's low crossing at $111.90. Second support is the 87% retracement level of the 2020-2021-rally crossing at $110.60.

The December British Pound was steady to lower overnight. Overnight trading sets the stage for a steady to lower 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. If December extends the aforementioned decline, the 50% retracement level of the 2020-2021-rally crossing at 1.2906 is the next downside target. Closes above the 20-day moving average crossing at 1.3333 would signal that a short-term low has been posted. First resistance the 20-day moving average crossing at 1.3333. Second resistance is the 50-day moving average crossing at 1.3521. First support is Wednesday's low crossing at 1.3160. Second support is the 50% retracement level of the 2020-2021-rally crossing at 1.2906.

The December Swiss Franc was steady to slightly higher overnight. Overnight trading sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are neutral signaling that sideways to higher prices possible near-term. If December renews the rally off November's low, November's high crossing at 1.1017 is the next upside target. Closes below Tuesday's low crossing at 1.0783 would open the door for a possible test of November's low crossing at 1.0673. First resistance is November's high crossing at 1.1017. Second resistance is August's high crossing at 1.1103. First support is Tuesday's low crossing at 1.0783. Second support is November's low crossing at 1.0673. 

The December Canadian Dollar was steady to slightly higher overnight. Overnight trading 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 aforementioned rally, the 50-day moving average crossing at $79.75 is the next upside target. If December renews the decline off October's high, September's low crossing at $77.53 is the next downside target. First resistance is the 50-day moving average crossing at $79.75. Second resistance is the November 16^th high crossing at $80.05. First support is last-Friday's low crossing at $77.78. Second support is September's low crossing at $77.53.

The December Japanese Yen was steady to lower overnight. Overnight trading 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 20-day moving average crossing at 0.087845 would signal that a short-term top has been posted. If December resumes the rally off November's low, the 50% retracement level of the August-November decline crossing at 0.089293 is the next upside target. First resistance is the 50% retracement level of the August-November decline crossing at 0.089293. Second resistance is the 62% retracement level of the August-November decline crossing at 0.089943. First support is the 20-day moving average crossing at 0.087845. Second support is November's low crossing at 0.086565. 

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

PRECIOUS METALS: Februarygold was lower overnight. Overnight trading 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 February renews the decline off November's high, September's low crossing at $1723.70 is the next downside target. Closes above the 20-day moving average crossing at $1807.50 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at $1797.30. Second resistance is the 20-day moving average crossing at $1807.50. First support is the November 3^rd low crossing at $1761.00. Second support is September's low crossing at $1723.70.

March silver was lower overnight as it extends the decline off November's high. The low-range trade sets the stage for a steady to lower 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 March extends this month's decline, September's low crossing at $21.460 is the next downside target. Closes above the 20-day moving average crossing at $23.451 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $22.391. Second resistance is the 20-day moving average crossing at $23.451. First support is the overnight low crossing at $21.815. Second support is September's low crossing at $21.460.  

March copper was steady to slightly higher overnight. 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 neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 4.3744 would open the door for additional gains near-term. If March renews the decline off November's high, the 75% retracement level of the August-October rally crossing at 4.1724 is the next downside target. First resistance is November's high crossing at 4.5115. Second resistance is October's high crossing at 4.8230. First support is November's low crossing at 4.2000. Second support is the 75% retracement level of the August-October rally crossing at 4.1724. 

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

March corn was steady to lower overnight.The high-range trade overnight sets the stage for a steady to higher opening when the day sessions 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-week's low, November's high crossing at $5.96 3/4 is the next upside target. Closes below November's low crossing at $5.57 1/2 would mark a downside breakout of the November-December trading range and would open the door for additional weakness possibly into the end of the year. First resistance is November's high crossing at $5.96 3/4. Second resistance is August's high crossing at $5.99 3/4. First support is the November 30^th low crossing at $5.62 1/2. Second support is November's low crossing at $5.57 1/2.    

March wheat was higher overnight as it consolidates some of the decline off November'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 remain neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the July-September uptrend line crossing near $7.75 3/4 would signal that the intermediate trend is turning bearish while opening the door for additional weakness near-term. Closes above the 20-day moving average crossing at $8.19 1/4 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at $8.19 1/4. Second resistance is November's high crossing at $8.74 3/4. First support is the July-September uptrend line crossing near $7.75 3/4. Second support is the 50% retracement level of the July-November rally crossing at $7.50 1/2.

March Kansas City wheat was steady to slightly higher overnight as it consolidates some of the decline off November's high. Overnight trading 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. Closes below the July-September uptrend line crossing near $7.88 would signal a possible intermediate trend change is taking place. Closes above the 20-day moving average crossing at $8.36 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at $8.36. Second resistance is November's high crossing at $8.92 1/4. First support isthe July-September uptrend line crossing near $7.88. Second support is the 38% retracement level of the July-November rally crossing at $7.81 1/4. 

March Minneapolis wheat was higher overnight as it extends the trading range of the past six-weeks. Overnight trading 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 reaction low crossing at $9.91 3/4 would mark a potential downside breakout of the aforementioned trading range while opening the door for additional weakness near-term. If March renews the rally off September's low, weekly resistance crossing at $11.20 is the next upside target. First resistance is November's high crossing at $10.66 1/4. Second resistance is weekly resistance crossing at $11.20. First support is November's low crossing at $9.91 3/4. Second support is the 25% retracement level of the 2020-2021 rally crossing at $9.43 1/2.  

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

January soybeans was steady to slightly higher overnight. Overnight trading set 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 January resumes the rally off last-Tuesday's low, November's high crossing at $12.89 1/4 is the next upside target. If January renews the decline off November's high, November's low crossing at $11.81 1/4 is the next downside target. First resistance is November's high crossing at $12.89 1/4. Second resistance is October's high crossing at $13.17. First support is the November 30^th low crossing at $12.14 1/4. Second support is November's low crossing at $11.81 1/4.  

March soybean meal was steady to higher overnight as it extends the rally off the November 30^th low. Overnight trading 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 the November 30^th low, November's high crossing at $371.90 is the next upside target. Closes below the 50-day moving average crossing at $338.10 would open the door for additional weakness near-term. First resistance is the overnight high crossing at $361.40. Second resistance is November's high crossing at $371.90. First support is the 50-day moving average crossing at $338.10. Second support is the November 8^th low crossing at $325.90. 

March soybean oil was lower overnight as it extends this week's decline off November's high. Overnight trading 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. March extends the decline off October's high, June's low crossing at 50.29 is the next downside target. Closes above the 50-day moving average crossing at 59.04 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at 59.04. Second resistance is November's high crossing at 61.44. First support is Thursday's low crossing at 54.06. Second support is June's low crossing at 50.29.       

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

February hogs closed up $1.83 at $77.88. 

February hogs closed higher due to short covering on Thursday as it consolidated some of the decline off November's high. The high-range close sets the stage for a steady to higher opening when Friday'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 February extends the decline off November's high, October's low crossing at $74.05 is the next downside target. Closes above the 20-day moving average crossing at $80.90 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at $80.90. Second resistance is the December 2^nd high crossing at $82.70. Third resistance is November's high crossing at $84.68. First support is Wednesday's low crossing at $75.35. Second support is October's low crossing at $74.05. 

February cattle closed down $0.90 at $137.77. 

February cattle closed lower on Thursday. The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the November 30^th low crossing at $137.35 would confirm that a short-term top has been posted. If February renews this fall's rally, the March 2016 high on the continuation chart crossing at $141.90 is the next upside target. First resistance is November's high crossing at $141.85. Second resistance is the March 2016 high on the continuation chart crossing at $141.90. First support is the November 30^th low crossing at $137.35. Second support is the 50-day moving average crossing at $136.18. 

January Feeder cattle closed up $0.73 at $164.13. 

January feeder cattle closed higher on Thursday. The high-range close sets the stage for a steady to higher opening when Friday's 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 $163.01 would signal that a short-term top has been posted. If January renews the rally off November's low, September's high crossing at $170.45 is the next upside target. First resistance is November's high crossing at $168.30. Second resistance is September's high crossing at $170.45. First support is the 20-day moving average crossing at $163.01. Second support is the 50-day moving average crossing at $160.51. 

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

March coffee closed lower on Thursday. The low-range close sets the stage for a steady to lower opening on Friday. 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 234.99 would signal that a short-term top has been posted. If March resumes this year's rally, weekly resistance crossing at 258.65 is the next upside target.     

March cocoa closed lower on Thursday as it consolidated some of the rally off last-Wednesday's low. The mid-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the November 26^th gap crossing at 24.95 would signal that a low has been posted while opening the door for additional gains near-term. If March resumes the decline off October's high July's low crossing at 23.13 is the next downside target.   

March sugar closed lower on Thursday as it consolidated some the rally off last-Thursday's low. The mid-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends this week's rally, the November 24^th high crossing at 20.19 is the next upside target. Closes below the 10-day moving average crossing at 19.13 would signal that a short-term top has been posted. 

March cotton closed slightly lower on Thursday. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above last-Tuesday's gap crossing at 111.11 would signal that a low has been posted. If March resumes the decline off November's high, October's low crossing at 101.31 is the next downside target.