KEY EVENTS TO WATCH FOR:

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 Dow closed higher on Friday as it extended the rally off  this month's low.The high-range close sets the stage for a steady to higher opening when Monday'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 the Dow extends the aforementioned rally, the November 16^th high crossing at 36,316.61 is the next upside target. Closes below the 10-day moving average crossing at 35,117.95 would signal that a short-term top has been posted. First resistance is the November 16^th high crossing at 36,316.61. Second resistance is the November high crossing at 36,565.73. First support is Tuesday's gap crossing at 35,356.75. Second support is the 10-day moving average crossing at 35,117.95.

The December NASDAQ 100 closed higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday's 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 last-Friday's low, November's high crossing at 16,767.50 is the next upside target. 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 15,743.34. Second support is the October 22^nd low crossing at 15,273.75.

The December S&P 500 closed higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday's 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 November's high crossing at 4740.50 is the next upside target. Closes below the 10-day moving average crossing at 4612.57 would signal that a short-term top has been posted. First resistance is the November 26^th high crossing at 4717.00. Second resistance is November's high crossing at 4740.50. First support is the 20-day moving average crossing at 4643.15. Second support is the 10-day moving average crossing at 4612.57.    

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

March T-bonds closed down 2/32's at 161-07 

March T-bonds closed slightly lower on Friday. The mid-range close sets the stage for a steady to lower opening when Monday's night 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 160-17 would confirm that a short-term top has been posted. If March renews the rally off October's low, August's high crossing at 164-20 is the next upside target. First resistance is the August high crossing at 164-20. Second resistance is the August-high on the weekly continuation chart crossing at 167-00. First support is the 20-day moving average crossing at 160-17. Second support is the 50-day moving average crossing at 159-07.  

March T-notes closed up 15-pts at 130.140.

March T-notes closed slightly higher on Friday as it consolidated some of the decline off last-Friday's high. The mid-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 130.029 would signal that a short-term top has been posted. If March renews the rally off November's low, the 62% retracement level of the August-November decline crossing at 132.065 is the next upside target. 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 130.029. Second support is November's low crossing at 128.225. 

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

January crude oil closed higher on Friday.The high-range close sets the stage for a steady to higher opening when Monday's night session begins. 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 confirm 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 the 10-day moving average crossing at $69.11. Second support is the 87% retracement level of the August-October rally crossing at $63.75.  

January heating oil closed slightly higher on Friday. The mid-range close sets the stage for a steady to higher opening when Monday's night trading session begins. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Multiple closes above the 20-day moving average crossing at $225.26 would signal that a short-term low has been posted. If January renews the decline off October's high, the 87% retracement level of the August-October rally crossing at $198.23 is the next downside target. First resistance is the 20-day moving average crossing at $225.26. Second resistance is the 50-day moving average crossing at $238.91. First support is the 10-day moving average crossing at $216.52. Second support is the 75% retracement level of the August-October rally crossing at $206.56. Third support is the 87% retracement level of the August-October rally crossing at $198.23.

January unleaded gas closed higher on Friday and is poised to resumes the rally off this month's low. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Multiple closes above the 20-day moving average crossing at $213.03 are needed to confirm that a short-term low has been posted. If January resumes the decline off October's high, the 87% retracement level of the August-October rally crossing at $186.65 is the next downside target. First resistance is the 20-day moving average crossing at $213.03. Second resistance is the 50-day moving average crossing at $224.40. First support is the 10-day moving average crossing at $204.09. Second support is the 87% retracement level of the August-October rally crossing at $186.65.    

January Henry natural gas closed slightly higher on Friday as it extends this week's trading range. The mid-range close sets the stage for a steady to higher opening when Monday's night 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 renews 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 the gap likely marked an exhaustion gap and that a low has been posted or is near. First resistance is Monday's gap crossing at 4.066. Second resistance is the 20-day moving average crossing at 4.577. 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.   

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

The December Dollar closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. 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 $94.91. If December resumes the rally off September's low, the June-2020 high on the weekly continuation chart crossing at $97.81 is the next upside target. 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 $94.91. 

The December Euro closed slightly higher on Friday while extending the trading range of the past four-weeks. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI remain 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 while opening the door for a possible test of the 50-day moving average crossing at 114.83. If December resumes this year's decline, 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 114.83. 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 closed higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are still possible. Closes above the 20-day moving average crossing at 1.3335 would signal that a short-term low has been posted. If December extends this year's decline, the 50% retracement level of the 2020-2021 rally crossing at 1.2906 is the next downside target. First resistance is the 20-day moving average crossing at 1.3335. Second resistance is the 50-day moving average crossing at 1.3522. First support is the 38% retracement level of the 2020-2021 rally crossing at 1.3223. Second support is the 50% retracement level of the 2020-2021 rally crossing at 1.2906. 

The December Swiss Franc posted an inside day with a higher close on Friday.The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If December resumes the rally off November's low, November's high crossing at 1.1017 is the next upside target. If December renews the decline off last-Friday's high, November's low crossing at 1.0673 is the next downside target. First resistance is this month's high crossing at 1.0929. Second resistance is November's high crossing at 1.1017. First support is Tuesday's low crossing at 1.0783. Second support is November's low crossing at 1.0673.  

The December Canadian Dollar closed lower on Friday as it extended the decline off Wednesday's high. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If December renews the decline off October's high, the September 29^th low crossing at 78.27 is the next downside target. If December renews the rally off the December 3^rd low, the 50-day moving average crossing at 79.74 is the next upside target. First resistance is the 50-day moving average crossing at 79.74. Second resistance is the November 16^th high crossing at 80.05. First support is the December 3rd low crossing at 77.79. Second support is September's low crossing at 77.53.

The December Japanese Yen closed slightly higher on Friday. The mid-range close sets the stage for a steady to higher opening when Monday’s night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Multiple closes below the 20-day moving average crossing at 0.087857 would confirm that a top has been posted. If December renews 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 November high crossing at 0.088870. Second resistance is the 50% retracement level of the August-November decline crossing at 0.089293. First support is the 20-day moving average crossing at 0.087857. Second support is November's low crossing at 0.086565.

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

February gold closed higher on Friday as it extends this week's trading range.The mid-range close sets the stage for a steady to higher opening when Monday's night 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 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 $1808.00 would confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at $1797.50. Second resistance is the 20-day moving average crossing at $1808.00. First support is November's low crossing at 1761.00. Second support is September's low crossing at $1723.70.

March silver closed higher on Friday as it consolidates some of the decline off November's high. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off November's high, September's low crossing at 21.460 is the next downside target. Closes above the 20-day moving acreage crossing at 23.466 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 22.422. Second resistance is the 20-day moving average crossing at 23.466. First support is today's low crossing at 21.815. Second support is September's low crossing at 21.460.    

March copper closed lower on Friday.The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If March renews the decline off October's high, September's low crossing at 401.30 is the next downside target. Closes above Thursday's high crossing at 439.80 would confirm that a short-term low has been posted. First resistance is Thursday's high crossing at 439.80. Second resistance is November's high crossing at 451.15. First support is November's low crossing at 420.00. Second support is the 75% retracement level of the August-October rally crossing at 417.24.  

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

March Corn closed down $0.01 1/4-cents at $5.90 1/2. 

March corn closed lower on Friday as it consolidated some of the rally off the November 30^th low. The mid-range close sets the stage for a steady to lower opening when Monday's night 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 $5.96 3/4 is the next upside target. If March resumes the decline off last-Wednesday's high, the 50-day moving average crossing at $5.65 is the next downside target. 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 50-day moving average crossing at $5.65. Second support is November's low crossing at $5.57 1/2.     

March wheat closed up $0.07-cents at $7.83 3/4.  

March wheat Closes higher on Friday as it consolidates some of the decline off November's high. The high-range close sets the stage for a steady to higher opening when Monday's night 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 would signal that a trend change of the intermediate trend has taken place. 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. Second support is the 50% retracement level of the July-November rally crossing at $7.50 1/2.

March Kansas City Wheat closed up $0.06 1/4-cents at $8.02 3/4.

March Kansas City wheat closed higher on Friday 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 Monday's night 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 3/4 would signal that the intermediate trend has turned bear. Closes above the 20-day moving average crossing at $8.36 1/4 would signal that a short-term top has been posted. First resistance is the 20-day moving average crossing at $8.36 1/4. Second resistance is the December 3rd high crossing at $8.48 3/4. Third resistance is November's high crossing at $8.92 1/4. First support is Thursday's low crossing at $7.87 3/4. Second support is the 38% retracement level of the July-November rally crossing at $7.81 1/4.

March Minneapolis wheat closed down $0.00 1/2-cents at $10.21 3/4. 

March Minneapolis wheat closed fractionally lower on Friday while extending the November-December trading range. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If March renews this year's rally, monthly resistance on the continuation chart crossing at $11.20 is the next upside target. Closes below the November low crossing at $9.91 3/4 would confirm that a short-term top has been posted. First resistance is November's high crossing at $10.86 1/2. Second resistance is monthly resistance on the continuation chart crossing at $11.22. 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 closed up $0.03 3/4-cents at $12.68 1/4.

January soybeans closed higher on Friday. Today's mid-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If January extends the rally off the November 30^th 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 September'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.

January soybean meal closed up $7.10 at $366.80. 

January soybean meal closed higher on Friday as it resumed the rally off the November 30^th low. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If January renews the aforementioned rally, November's high crossing at $375.90 is the next upside target. Closes below Wednesday's low, crossing at $347.20 would signal that a short-term top has been posted. First resistance is today's high crossing at $370.10. Second resistance is November's high crossing at $375.90. First support is Wednesday's low, crossing at $347.20. Second support is the 50-day moving average crossing at $338.40.      

January soybean oil closed down 131 pts. at 53.54. 

January soybean oil closed sharply lower on Friday as it extended the decline off October's high. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are 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, June's low crossing at 51.19 is the next downside target. Closes above the 20-day moving average crossing at 57.62 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 57.62. Second resistance is the 50-day moving average crossing at 59.40. First support is today's low crossing at 53.52. Second support is June's low crossing at 51.19.  

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

February hogs closed up $2.93 at $80.75. 

February hogs closed sharply higher on Friday 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 Monday's session begins trading. Stochastics and the RSI are have turned neutral to bearish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at $80.98 would signal that a short-term low has been posted. If February renews the decline off November's high, October's low crossing at $74.05 is the next downside target. First resistance is the 20-day moving average crossing at $80.98. 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 up $0.45 at $138.25. 

February cattle closed sharply higher on Friday. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are 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 $136.33. 

January Feeder cattle closed up $1.05 at $165.13. 

January feeder cattle closed higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday'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 $163.30 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 $163.30. Second support is the 50-day moving average crossing at $160.73. 

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

March coffee closed lower on Friday and below the 20-day moving average crossing at 235.96 signaling that a short-term top has been posted. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends today's decline, the 50-day moving average crossing at 218.40 is the next downside target. If March resumes this year's rally, weekly resistance crossing at 258.65 is the next upside target.     

March cocoa posted an inside day with a higher close on Friday as it consolidated some of Tuesday's high. The high-range close sets the stage for a steady to higher opening on Monday. 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 slightly higher on Friday. The mid-range close sets the stage for a steady to lower opening on Monday. 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 19.16 would signal that a short-term top has been posted. 

March cotton closed slightly lower on Friday. The low-range close sets the stage for a steady to lower opening on Monday. 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 110.77 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.