KEY EVENTS TO WATCH FOR:
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 Dow closed sharply lower on Monday as traders awaited a Federal Reserve monetary policy decision later this week. Investors will be focusing on the Federal Reserve's December policy-setting meeting this week, which should provide near-term direction. The low-range close sets the stage for a steady to lower opening when Tuesday'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 16th high crossing at 36,316.61 is the next upside target. Closes below the 10-day moving average crossing at 35,188.85 would signal that a short-term top has been posted. First resistance is the November 16th high crossing at 36,316.61. Second resistance is the November high crossing at 36,565.73. First support is last-Tuesday's gap crossing at 35,356.75. Second support is the 10-day moving average crossing at 35,188.85.
The March NASDAQ 100 closed lower on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday's 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 December's low, November's high crossing at 16,768.00 is the next upside target. 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 15,776.66. Second support is December's low crossing at 15,547.25.
The March S&P 500 closed lower on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday's session begins trading. Stochastics and the RSI are neutral to bullish signaling 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 10-day moving average crossing at 4614.10 would signal that a short-term top has been posted. First resistance is today's high crossing at 4723.25. Second resistance is November's high crossing at 4735.00. First support is the 20-day moving average crossing at 4642.60. Second support is the 10-day moving average crossing at 4614.10.
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March T-bonds closed up 1-08/32's at 162-18.
March T-bonds closed higher on Monday. The high-range close sets the stage for a steady to higher opening when Tuesday's night 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 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 would confirm that a short-term top has been posted. 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 160-20. Second support is the 50-day moving average crossing at 159-10.
March T-notes closed up 160-pts at 130.290.
March T-notes closed higher on Monday. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling sideways to higher prices are possible near-term. 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. Closes below the 20-day moving average crossing at 130.047 would signal that a short-term top has been posted. 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 130.047. Second support is November's low crossing at 128.225.
ENERGY MARKETS? http://quotes.ino.com/ex?changes/?c=energy ""
January crude oil closed lower on Monday as it extended the trading range of the past four-days.The low-range close sets the stage for a steady to lower opening when Tuesday'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 $72.78 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 $72.78. Second resistance is the 50-day moving average crossing at $77.32. First support is the 10-day moving average crossing at $69.24. Second support is the 87% retracement level of the August-October rally crossing at $63.75.
January heating oil closed lower on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday'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 $224.47 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 $224.47. Second resistance is the 50-day moving average crossing at $238.65. First support is the 10-day moving average crossing at $217.37. 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 lower on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above today's high crossing at $217.52 would confirm that a short-term low has been posted while opening the door for additional gains near-term. 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 today's high crossing at $217.52. Second resistance is the 50-day moving average crossing at $224.26. First support is the 10-day moving average crossing at $204.95. Second support is the 87% retracement level of the August-October rally crossing at $186.65.
January Henry natural gas closed lower on Monday after filling last-Monday's gap crossing at 4.066. The low-range close sets the stage for a steady to lower opening when Tuesday'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 last-Monday's gap crossing at 4.066 would signal that the gap marked an exhaustion gap and that a 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 4.526. 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 March Dollar closed higher on Monday as it continues to form a symmetrical triangle off November's high. The mid-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes 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. If March 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 $96.85. 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 closed slightly lower on Monday while extending the trading range of the past five-weeks. The mid-range close sets the stage for a steady opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes above the November 30th high crossing at 114.17 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 115.04. If March 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 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 112.22. Second support is the 87% retracement level of the 2020-2021-rally crossing at 110.60.
The March British Pound closed lower on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday'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 1.3331 would signal that a short-term low has been posted. If March extends this year's decline, the 50% retracement level of the 2020-2021 rally crossing at 1.2893 is the next downside target. First resistance is the 20-day moving average crossing at 1.3331. Second resistance is the 50-day moving average crossing at 1.3516. First support is the 38% retracement level of the 2020-2021 rally crossing at 1.3207. Second support is the 50% retracement level of the 2020-2021 rally crossing at 1.2893.
The March Swiss Franc closed slightly lower on Monday.The high-range close sets the stage for a steady to slightly lower opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March resumes the rally off November's low, November's high crossing at 1.0957 is the next upside target. If December renews the decline off November's high, November's low crossing at 1.0712 is the next downside target. First resistance is the November 30th high crossing at 1.0957. Second resistance is November'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 closed lower on Monday as it extended the decline off last-Wednesday's high. The low-range close sets the stage for a steady to lower opening when Tuesday's night 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, the August low crossing at 77.32 is the next downside target. If March renews the rally off the December 3rd 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 15th high crossing at 80.00. First support is the December 3rd low crossing at 77.81. Second support is August's low crossing at 77.32.
The March Japanese Yen closed slightly lower on Monday. The mid-range close sets the stage for a steady to lower opening when Tuesday’s night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Multiple closes below the 20-day moving average crossing at 0.087983 would confirm that a top has been posted. If March renews the rally off November's low, the 50% retracement level of the August-November decline crossing at 0.089417 is the next upside target. First resistance is November high crossing at 0.088985. Second resistance is the 50% retracement level of the August-November decline crossing at 0.089417. First support is the 20-day moving average crossing at 0.087983. Second support is November's low crossing at 0.086715.
PRECIOUS METALS? http://quotes.ino.com/ex?changes/?c=metals ""
February gold closed higher on Monday as it extends the trading range of the past two-weeks.The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher 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 $1804.00 would confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at $1798.10. Second resistance is the 20-day moving average crossing at $1804.00. 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 Monday 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 Tuesday'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 23.315 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 22.373. Second resistance is the 20-day moving average crossing at 23.315. First support is last-Friday's low crossing at 21.815. Second support is September's low crossing at 21.460.
March copper closed slightly higher on Monday.The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to 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 last-Thursday's high crossing at 439.80 would confirm that a short-term low has been posted. First resistance is last-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 $0.05-cents at $5.85.
March corn closed lower on Monday as it consolidated some of the rally off the November 30th low. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 10-day moving average crossing at $5.82 1/4 would signal that a short-term top has been posted while opening the door for additional weakness and a possible test of the 50-day moving average crossing at $5.65 3/4. If March extends the rally off the November 30th low, November's high crossing at $5.96 3/4 is the next upside 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 3/4. Second support is November's low crossing at $5.57 1/2.
March wheat closed up $0.03 1/2-cents at $7.88 3/4.
March wheat Closes higher on Monday 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 Thursday'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 $7.76 would signal that an intermediate trend change has taken place. Closes above the 20-day moving average crossing at $8.17 1/4 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at $8.17 1/4. Second resistance is November's high crossing at $8.74 3/4. First support is the July-September uptrend line crossing near $7.76. Second support is the 50% retracement level of the July-November rally crossing at $7.50 1/2.
March Kansas City Wheat closed up $0.07-cents at $8.12 1/2.
March Kansas City wheat closed higher on Monday 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 Tuesday'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 $7.92 1/4 would signal that the intermediate trend has turned bear. Closes above the 20-day moving average crossing at $8.35 would signal that a short-term top has been posted. First resistance is the 20-day moving average crossing at $8.35. 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 last-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 $0.03 1/2-cents at $10.18 1/4.
March Minneapolis wheat closed lower on Monday while extending the November-December trading range. The mid-range close sets the stage for a steady opening when Tuesday'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 down $0.23 3/4-cents at $12.45 1/2.
January soybeans closed sharply lower on Monday. Today's low-range close sets the stage for a steady to lower opening when Tuesday'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 January extends the rally off the November 30th 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 30th low crossing at $12.14 1/4. Second support is November's low crossing at $11.81 1/4.
January soybean meal closed down $4.70 at $362.10.
January soybean meal closed lower on Monday as it consolidated some of the rally off the November 30th low. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If January extends the aforementioned rally, November's high crossing at $375.90 is the next upside target. Closes below last-Wednesday's low, crossing at $347.20 would signal that a short-term top has been posted. First resistance is Friday's high crossing at $370.10. Second resistance is November's high crossing at $375.90. First support is last-Wednesday's low, crossing at $347.20. Second support is the 50-day moving average crossing at $339.00.
January soybean oil closed down 34 pts. at 53.35.
January soybean oil closed lower on Monday as it extended the decline off October's high. The low-range close sets the stage for a steady to lower opening when Tuesday'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 57.36 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 57.36. Second resistance is the 50-day moving average crossing at 59.30. First support is today's low crossing at 53.25. Second support is June's low crossing at 51.19.
LIVESTOCKhttp://quotes.ino.com/exchanges/?c=livestock
February hogs closed down $0.05 at $80.98.
February hogs closed lower on Monday as it extended the decline off November's high. The high-range close sets the stage for a steady to higher opening when Tuesday's session begins trading. Stochastics and the RSI have turned neutral to bearish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at $81.01 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 $81.01. Second resistance is the December 2nd high crossing at $82.70. Third resistance is November's high crossing at $84.68. First support is last-Wednesday's low crossing at $75.35. Second support is October's low crossing at $74.05.
February cattle closed up $0.65 at $138.73.
February cattle closed higher on Monday. The high-range close sets the stage for a steady to higher opening on Tuesday. 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 $136.50 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 $136.50.
January Feeder cattle closed up $0.53 at $165.40.
January feeder cattle closed higher on Monday. The high-range close sets the stage for a steady to higher opening when Tuesday'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 $163.67 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 $163.67. Second support is the 50-day moving average crossing at $160.95.
FOOD & FIBERhttp://quotes.ino.com/ex changes/?c=food
March coffee closed higher on Monday as it consolidated some of the decline off last-Tuesday's high. The mid-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends last-week's decline, the 50-day moving average crossing at 218.99 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 closed sharply higher on Monday as it renewed the rally off this month's low. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the aforementioned rally, the 50-day moving average crossing at 25.63 is the next upside target. Closes below last Thursday's low crossing at 24.16 would confirm that a short-term top has been posted.
March sugar closed slightly lower on Monday. The low-range close sets the stage for a steady to lower opening on Tuesday. 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, the November 24th high crossing at 20.19 is the next upside target. Closes below the 10-day moving average crossing at 19.21 would signal that a short-term top has been posted.
March cotton closed slightly higher on Monday. The mid-range close sets the stage for a steady to higher opening on Tuesday. 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 110.35 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.
Thanks much tallpine!!