INO Morning Market Commentary
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Started by tallpine - Dec. 13, 2021, 8:04 a.m.

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   1st 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

 



 

 

Tuesday, December 14, 2021   

 



 

 

N/A 1st 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

 



 

 

Wednesday, December 15, 2021   

 



 

 

7:00 AM ET. MBA Weekly Mortgage Applications Survey

 



 

 

                       Composite Idx (previous 616.4)

 

                       Composite Idx, W/W% (previous +2.0%)

 

                       Purchase Idx-SA (previous 295.2)

 

                       Purchase Idx-SA, W/W% (previous -5.0%)

 

                       Refinance Idx (previous 2511.5)

 

                       Refinance Idx, W/W% (previous +9.0%)

 



 

 

8:30 AM ET. December Empire State Manufacturing Survey

 



 

 

                       Mfg Idx (previous 30.9)

 

                       Employment Idx (previous 26.0)

 

                       New Orders Idx (previous 28.8)

 

                       Prices Received (previous 50.8)

 



 

 

8:30 AM ET. November Advance Monthly Sales for Retail & Food Services

 



 

 

                       Overall Sales-SA, M/M% (previous +1.7%)

 

                       Sales, Ex-Auto, M/M% (previous +1.7%)

 

                       Sales, Ex-Auto & Gas, M/M% (previous +1.4%)

 



 

 

8:30 AM ET. November Import & Export Price Indexes

 



 

 

                       Import Prices (previous +1.2%)

 

                       Non-Petroleum Prices (previous +0.5%)

 

                       Petroleum Prices (previous +8.1%)

 



 

 

10:00 AM ET. October Manufacturing & Trade: Inventories & Sales

 



 

 

                       Total Inventories (previous +0.7%)

 



 

 

10:00 AM ET. December NAHB Housing Market Index

 



 

 

                       Housing Mkt Idx (previous 83)

 



 

 

10:30 AM ET. EIA Weekly Petroleum Status Report

 



 

 

                       Crude Oil Stocks (Bbl) (previous 432.87M)

 

                       Crude Oil Stocks, Net Chg (Bbl) (previous -0.241M)

 

                       Gasoline Stocks (Bbl) (previous 219.304M)

 

                       Gasoline Stocks, Net Chg (Bbl) (previous +3.882M)

 

                       Distillate Stocks (Bbl) (previous 126.61M)

 

                       Distillate Stocks, Net Chg (Bbl) (previous +2.733M)

 

                       Refinery Usage (previous 89.8%)

 

                       Total Prod Supplied (Bbl/day) (previous 19.837M)

 

                       Total Prod Supplied, Net Chg (Bbl/day) (previous -0.385M)

 

                        

 

2:00 PM ET. Federal Reserve economic projections

 



 

 

                       Median Fed Funds Rate - 2021 (previous 0.1%)

 

                       Median Fed Funds Rate - 2022 (previous 0.3%)

 

                       Median Fed Funds Rate - 2023 (previous 1.0%)

 

                       Median Fed Funds Rate - 2024 (previous 1.8%)

 



 

 

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

 



 

 

4:00 PM ET. October Treasury International Capital Data

 



 

 

Thursday, December 16, 2021

 



 

 

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

 



 

 

                       Corn (Metric Tons) (previous 1132.5K)

 

                       Soybeans (Metric Tons) (previous 1637.9K)

 

                       Wheat (Metric Tons) (previous 240.0K)

 



 

 

8:30 AM ET. December Philadelphia Fed Business Outlook Survey

 



 

 

                       Business Activity (previous 39.0)

 

                       Prices Paid (previous 80.0)

 

                       Employment (previous 27.2)

 

                       New Orders (previous 47.4)

 

                       Prices Received (previous 62.9)

 

                       Delivery Times (previous 35.7)

 

                       Inventories (previous 13.5)

 

                       Shipments (previous 32.1)

 



 

 

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

 



 

 

                       Total Starts (previous 1.520M)

 

                       Housing Starts, M/M% (previous -0.7%)

 

                       Building Permits (previous 1.650M)

 

                       Building Permits, M/M% (previous +4.0%)

 



 

 

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

 



 

 

                       Jobless Claims (previous 184K)

 

                       Jobless Claims, Net Chg (previous -43K)

 

                       Continuing Claims (previous 1992000)

 

                       Continuing Claims, Net Chg (previous +38K)

 



 

 

9:15 AM ET. November Industrial Production & Capacity Utilization

 



 

 

                       Industrial Production, M/M% (previous +1.6%)

 

                       Capacity Utilization % (previous 76.4%)

 

                       Capacity Utilization, Net Chg (Pts) (previous +1.2)

 



 

 

9:45 AM ET. Consumer Comfort Index

 



 

 

9:45 AM ET. December US Flash Manufacturing PMI

 



 

 

                       PMI, Mfg (previous 59.1)

 



 

 

9:45 AM ET. December US Flash Services PMI

 



 

 

                       PMI, Services (previous 57.0)

 



 

 

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

 



 

 

                       Working Gas In Storage (Cbf) (previous 3505B)

 

                       Working Gas In Storage, Net Chg (Cbf) (previous -59B)

 

                        

 

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

 



 

 

                       Mfg Activity Idx (previous 17)

 

                       6-Mo Exp Prod Idx (previous 43)

 

                       Mfg Composite Idx (previous 24)

 

                       6-Mo Exp Composite Idx (previous 35)

 



 

 

4:30 PM ET. Federal Discount Window Borrowings

 



 

 

4:30 PM ET. Foreign Central Bank Holdings

 


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

 



 

The STOCK INDEXES: The March 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 March  extends last-week's rally, November's high crossing at 16,768.00 is the next upside target. Closes below the 50-day moving average crossing at 15,780.74 would signal that a short-term low has been posted. First resistance is the November 30th high crossing at 16,460.00. Second resistance is November's high crossing at 16,768.00. First support is the 50-day moving average crossing at 15,780.74. Second support is December's low crossing at 15,547.25.



The March S&P 500 was steady to higher overnight as it extends the rally off this month's low. 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 March extends the rally off December's low, November's high crossing at 4735.00 is the next upside target. Closes below the 50-day moving average crossing at 4568.30 would signal that a short-term low has been posted. First resistance is the overnight high crossing at 4723.25. Second resistance is the November 22nd high crossing at 4735.00. First support is the 10-day moving average crossing at 4619.55. Second support is the 50-day moving average crossing at 4568.30. 



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



INTEREST RATES: March T-bonds was 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 March resumes the rally off October's low, August's high crossing at 164-20 is the next upside target. Closes below the 20-day moving average crossing at 160-20 are needed to confirm that a short-term top has been posted. First resistance is December'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 160-20. Second support is the 50-day moving average crossing at 159-09.



March T-notes was steady to slightly higher overnight. Overnight trading sets the stage for a steady to higher 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 130.040 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 130.040. 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 lower overnight. Overnight trading sets the stage for 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 20-day moving average crossing at $72.78 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 $72.78. Second resistance is the 50-day moving average crossing at $77.32. First support is December's low crossing at $62.43. Second support is August's low crossing at $60.77.



January heating oil 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. Closes above the 20-day moving average crossing at $2.2455 would confirm that a short-term low has been posted. Closes below the 10-day moving average crossing at $2.1754 would temper the near-term friendly outlook. First resistance is the 20-day moving average crossing at $2.2455. Second resistance is the 50-day moving average crossing at $2.3868. 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 steady to higher overnight as it extends the rally off December's low. The low-range trade overnight sets the stage for a steady to slightly 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. If January extends the rally off December's low the 50-day moving average crossing at 2.2429 is the next upside target. First resistance is the overnight high crossing at 2.1752. Second resistance is the 50-day moving average crossing at 2.2429. First support is the 10-day moving average crossing at 2.0506. Second support is the 87% retracement level of the August-October rally crossing at 1.8665.  



January Henry natural gas was higher overnight as it extends the rebound off last-Monday's low. 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 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 last-Monday's gap crossing at 4.066 would signal that a short-term low has been posted. First resistance is last-Monday's gap crossing at 4.066. Second resistance is the 20-day moving average crossing at 4.534. Second resistance is the 50-day moving average crossing at 5.217. 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 March 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 March 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 30th low crossing at $95.50 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. First resistance is November's high crossing at $96.85. Second resistance is the June-2020 high on the weekly continuation chart crossing at $97.81. First support is the November 30th low crossing at $95.50. Second support is the 50-day moving average crossing at $94.91.



The March Euro was lower overnight as it extends the trading range of the past five-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 turning neutral to bearish signaling that sideways to lower prices are possible near-term. If March 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. Closes above the November 30th high crossing at $114.17 would mark an upside breakout of the aforementioned trading range thereby opening the door for additional gains near-term. First resistance is the November 30th high crossing at $114.17. Second resistance is the 50-day moving average crossing at $115.04. First support is November's low crossing at $112.21. Second support is the 87% retracement level of the 2020-2021-rally crossing at $110.60.



The March British Pound was steady to slightly higher overnight. Overnight trading sets the stage for a steady to higher opening when the day session beings trading. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 1.3333 would signal that a short-term low has been posted. If March extends the aforementioned decline, the 50% retracement level of the 2020-2021-rally crossing at 1.2893 is the next downside target.First resistance the 20-day moving average crossing at 1.3333. Second resistance is the 50-day moving average crossing at 1.3517. First support is last-Wednesday's low crossing at 1.3166. Second support is the 50% retracement level of the 2020-2021-rally crossing at 1.2893.



The March Swiss Franc 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 signaling that sideways to higher prices possible near-term. If March renews the rally off November's low, November's high crossing at 1.1042 is the next upside target. Closes below last-Tuesday's low crossing at 1.0815 would open the door for a possible test of November's low crossing at 1.0712. First resistance is the November 30th high crossing at 1.0957. Second resistance is December's high crossing at 1.1042. First support is last-Tuesday's low crossing at 1.0815. Second support is November's low crossing at 1.0712. 

 

The March Canadian Dollar 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 have turned  neutral to bearish signaling that sideways to lower prices are possible near-term. If March renews the decline off October's high, August's low crossing at $77.32 is the next downside target. If March renews the rally off December's low, the 50-day moving average crossing at $79.73 is the next upside target. First resistance is the 50-day moving average crossing at $79.73. Second resistance is the November 16th high crossing at $80.00. First support is the overnight low crossing at $78.36. Second support is August's low crossing at $77.32.



The March 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 0.087980 would signal that a short-term top has been posted. If March 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 0.089417. Second resistance is the 62% retracement level of the August-November decline crossing at 0.090055. First support is the 20-day moving average crossing at 0.087980. Second support is November's low crossing at 0.086715. 

 

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



PRECIOUS METALS: Februarygold was 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. Closes above the 20-day moving average crossing at $1804.10 would signal that a short-term low has been posted. If February renews the decline off November's high, September's low crossing at $1723.70 is the next downside target. First resistance is the 50-day moving average crossing at $1798.20. Second resistance is the 20-day moving average crossing at $1804.10. First support is the November 3rd low crossing at $1761.00. Second support is September's low crossing at $1723.70.



March silver was steady to slightly higher overnight as it consolidates some of the decline off November's high. The low-range trade sets the stage for a steady to steady to slightly 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 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 $23.309 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $22.361. Second resistance is the 20-day moving average crossing at $23.309. First support is last-Friday's 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 bearish signaling that sideways to lower prices are possible 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. Closes above the 50-day moving average crossing at 4.3762 would open the door for additional gains near-term. 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 lower overnight. 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 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 while opening 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 30th low crossing at $5.62 1/2. Second support is November's low crossing at $5.57 1/2.    



March wheat was lower overnight. 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 March extends the decline off November's high, the 50% retracement level of the July-November rally crossing at $7.50 1/2 is the next downside target. Closes above the 20-day moving average crossing at $8.16 3/4 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at $8.16 3/4. Second resistance is November's high crossing at $8.74 3/4. First support is the July-September uptrend line crossing near $7.76. Second support is the 50% retracement level of the July-November rally crossing at $7.50 1/2.



March Kansas City wheat 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. Closes below the July-September uptrend line crossing near $7.91 3/4 would signal a possible intermediate trend change is taking place. Closes above the 20-day moving average crossing at $8.34 1/2 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at $8.34 1/2. Second resistance is November's high crossing at $8.92 1/4. First support isthe July-September uptrend line crossing near $7.91 3/4. Second support is the 38% retracement level of the July-November rally crossing at $7.81 1/4. 



March Minneapolis wheat was lower overnight as it extends the trading range of the past seven-weeks. Overnight trading sets the stage for a 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 lower overnight. Overnight trading set 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. If January extends the rally off the late-November 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 30th low crossing at $12.14 1/4. Second support is November's low crossing at $11.81 1/4.  

 

March soybean meal was lower overnight as it consolidates some of the rally off the November 30th low. Overnight trading sets the stage for a 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. If March extends the rally off the November 30th low, November's high crossing at $371.90 is the next upside target. Closes below the 10-day moving average crossing at $353.50 would open the door for additional weakness near-term. First resistance is last-Friday's high crossing at $369.10. Second resistance is November's high crossing at $371.90. First support is the 10-day moving average crossing at $353.50. Second support is the 50-day moving average crossing at $338.80. 



March soybean oil 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. 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 58.93 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at 55.71. Second resistance is the 20-day moving average crossing at 57.23. First support is the overnight low crossing at 53.56. Second support is June's low crossing at 50.29.       


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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 2nd 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 30th 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 30th 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 26th 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 24th 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. 

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