INO Evening Market Comments
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Started by tallpine - Dec. 17, 2021, 4:41 p.m.

KEY EVENTS TO WATCH FOR:



Monday, December 20, 2021 



10:00 AM ET. November Leading Indicators



                       Leading Index, M/M% (previous +0.9%)

                       Leading Index (previous 118.3)

                       Coincident Index, M/M% (previous +0.5%)

                       Lagging Index, M/M% (previous +0.4%)



Tuesday, December 21, 2021 



7:45 AM ET. Weekly Chain Store Sales Index



8:30 AM ET. 3rd Quarter International Transactions



                       Current Account (USD) (previous -190.28B)



8:55 AM ET. Johnson Redbook Retail Sales Index



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

                       Ret Sales Mo-to-Date, Y/Y% (previous +15.7%)

                       Latest Wk, Y/Y% (previous +16.0%)



4:30 PM ET. API Weekly Statistical Bulletin



                       Crude Stocks, Net Chg (Bbls) (previous -0.8M)

                       Gasoline Stocks, Net Chg (Bbls) (previous +0.4M)

                       Distillate Stocks, Net Chg (Bbls) (previous -1.0M)



Wednesday, December 22, 2021   



7:00 AM ET. MBA Weekly Mortgage Applications Survey



                       Composite Idx (previous 591.7)

                       Composite Idx, W/W% (previous -4.0%)

                       Purchase Idx-SA (previous 297.2)

                       Purchase Idx-SA, W/W% (previous +0.7%)

                       Refinance Idx (previous 2350.5)

                       Refinance Idx, W/W% (previous -6.4%)



8:30 AM ET. November CFNAI Chicago Fed National Activity Index



                       NAI (previous 0.76)

                       NAI, 3-mo Moving Avg (previous 0.21)



8:30 AM ET. 3rd Quarter Revised Corporate Profits



8:30 AM ET. 3rd Quarter 3rd estimate GDP



                       Annual Rate, Q/Q% (previous +2.1%)

                       Chain-Weighted Price Idx, Q/Q% (previous +5.9%)

                       Corporate Profits, Q/Q% (previous +1.9%)

                       PCE Price Idx, Q/Q% (previous +5.3%)

                       Purchase Price Idx, Q/Q% (previous +5.5%)

                       Real Final Sales, Q/Q% (previous +0%)

                       Core PCE Price Idx, ExFood/Energy, Q/Q% (previous +4.5%)

                       Personal Consumption, Q/Q% (previous +1.7%)



10:00 AM ET. November Existing Home Sales



                       Existing Sales (previous 6.34M)

                       Existing Sales, M/M% (previous +0.8%)

                       Unsold Homes Month's Supply (previous 2.4)

                       Median Price (USD) (previous 353900)

                       Median Home Price, Y/Y% (previous +13.1%)



10:00 AM ET. December Consumer Confidence Index



                       Cons Conf Idx (previous 109.5)

                       Expectation Idx

                       Present Situation Idx (previous 142.5)



10:30 AM ET. EIA Weekly Petroleum Status Report



                       Crude Oil Stocks (Bbl) (previous 428.286M)

                       Crude Oil Stocks, Net Chg (Bbl) (previous -4.584M)

                       Gasoline Stocks (Bbl) (previous 218.585M)

                       Gasoline Stocks, Net Chg (Bbl) (previous -0.719M)

                       Distillate Stocks (Bbl) (previous 123.758M)

                       Distillate Stocks, Net Chg (Bbl) (previous -2.852M)

                       Refinery Usage (previous 89.8%)

                       Total Prod Supplied (Bbl/day) (previous 23.191M)

                       Total Prod Supplied, Net Chg (Bbl/day) (previous +3.354M)



Thursday, December 23, 2021  



8:30 AM ET. November Personal Income & Outlays



                       Personal Income, M/M% (previous +0.5%)

                       Consumer Spending, M/M% (previous +1.3%)

                       PCE Price Idx, M/M% (previous +0.6%)

                       PCE Price Idx, Y/Y% (previous +5%)

                       PCE Core Price Idx, M/M% (previous +0.4%)

                       PCE Core Price Idx, Y/Y% (previous +4.1%)



8:30 AM ET. November Advance Report on Durable Goods



                       Durable Goods-SA, M/M% (previous -0.5%)

                       Dur Goods, Ex-Defense, M/M% (previous +0.8%)

                       Dur Goods, Ex-Transport, M/M% (previous +0.5%)

                       Orders: Cap Gds, Non-Def, Ex-Air, M/M% (previous +0.6%)

                       Shipmnts: Cap Gds, Non-Def, Ex-Air, M/M% (previous +0.3%)

                       

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



                       Jobless Claims (previous 206K)

                       Jobless Claims, Net Chg (previous +18K)

                       Continuing Claims (previous 1845000)

                       Continuing Claims, Net Chg (previous -154K)



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



                       Corn (Metric Tons) (previous 2703.1K)

                       Soybeans (Metric Tons) (previous 1448.6K)

                       Wheat (Metric Tons) (previous 650.6K)



9:45 AM ET. Consumer Comfort Index



10:00 AM ET. 3rd Quarter GDP by State



10:00 AM ET. November New Residential Sales



                       New Home Sales (previous 745K)

                       New Home Sales, M/M% (previous +0.4%)

                       New Home Sales Months Supply (previous 6.3)



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



                       End-Mo Sentiment Idx (previous 67.4)

                       End-Mo Expectations Idx (previous 63.5)

                       12-Month Inflation Forecast (previous 4.9%)

                       5-Year Inflation Forecast (previous 3.0%)

                       End-Mo Current Idx (previous 73.6)



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



                       Working Gas In Storage (Cbf) (previous 3417B)

                       Working Gas In Storage, Net Chg (Cbf) (previous -88B)

                       

4:30 PM ET. Foreign Central Bank Holdings



4:30 PM ET. Federal Discount Window Borrowings



Friday, December 24, 2021  



  N/A              U.S.: Christmas Day holiday observed. Financial markets closed



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



The Dow closed sharply lower on Friday following Thursday's decline. The mid-range close sets the stage for a steady to lower 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 16th high crossing at 36,316.61 is the next upside target. Closes below the 20-day moving average crossing at 35,380.32 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 the 20-day moving average crossing at 35,380.32. Second support is last-Tuesday's gap crossing at 35,356.75. 



The March NASDAQ 100 closed lower on Friday. The mid-range close sets the stage for a steady to lower opening when Friday's 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 December 3rd low crossing at 15,547.25 would renew the decline off November's high. If March renews 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 Tuesday's low crossing at 15,734.00. Second support is December's low crossing at 15,547.25.



The March S&P 500 closed lower on Thursday due to profit taking. The mid-range close sets the stage for a steady to lower opening when Friday's session begins trading. Stochastics and the RSI are turning neutral to bearish signaling sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at 4587.66 would signal that a short-term top has been posted. If March extends this year's rally into uncharted territory, upside targets will be hard to project. First resistance is today's high crossing at 4743.25. Second resistance is unknown. First support is the 50-day moving average crossing at 4587.66. Second support is December's low crossing at 4485.75.    



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



March T-bonds closed up 9/32's at 162-13. 

  

March T-bonds closed 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 turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below last-Wednesday's low crossing at 160-12 would confirm that a short-term top has been posted. If March renews the rally off December's low, December's high crossing at 164-12 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 161-11. Second support is last-Wednesday's low crossing at 160-12.  



March T-notes closed unchanged at 131.030.



March T-notes closed unchanged on Friday. The low-range close sets the stage for a steady to slightly lower opening when Monday'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 50-day moving average crossing at 130.051 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 50-day moving average crossing at 130.051. Second support is November's low crossing at 128.225. 



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



February crude oil closed lower on Friday as it extended the trading range of the past eight-days.The mid-range close sets the stage for a steady to lower 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 last-Thursday's high crossing at $73.13 would confirm that a short-term low has been posted while opening the door for additional gains near-term. If February renews the decline off October's high, August's low crossing at $60.52 is the next downside target. First resistance is last-Thursday's high crossing at $73.13. Second resistance is the 50-day moving average crossing at $76.00.First support is Wednesday's low crossing at $69.21. Second support is December's low crossing at $62.26.  



February heating oil closed lower on Friday. The mid-range close sets the stage for a steady to lower 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. Closes above last-Thursday's high crossing at $227.82 would confirm that a short-term low has been posted while opening the door for a possible test of the 50-day moving average crossing at $235.50. If February 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 Monday's high crossing at $228.39. Second resistance is the 50-day moving average crossing at $237.39. First support is Tuesday's low crossing at $218.29. Second support is December's low crossing at $199.74. 



February unleaded gas closed lower 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 February extends the rally off December's low, the 50-day moving average crossing at 221.61 is the next upside target. Closes below Tuesday's low crossing at $206.26 would signal that a short-term top has been posted. First resistance is Thursday's high crossing at $217.19. Second resistance is the 50-day moving average crossing at $221.61. First support is Tuesday's low crossing at $206.26. Second support is December's low crossing at $186.46.    



February Henry natural gas closed lower on Friday as it extends the trading range of the past two-weeks. 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 February renews the decline off October's high, the 75% retracement level of the 2020-2021-rally crossing at 3.535 is the next downside target. Closes above last-Monday's gap crossing at 4.010 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 4.010. Second resistance is the 20-day moving average crossing at 4.200. First support is the 75% retracement level of the 2020-2021-rally crossing at 3.535. Second support is the 87% retracement level of the 2020-2021-rally crossing at 3.050.   



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



The March Dollar closed sharply higher on Friday as it extended the November-December trading range. 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 diverging and turning neutral to bearish signaling that sideways to lower 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 $95.09. If March extends 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 Wednesday's high crossing at $96.90. 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 $95.09. 



The March Euro closed lower on Friday while extending the trading range of the past five-weeks. 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 resumes this year's decline, 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 while opening the door for a possible test of the 50-day moving average crossing at 114.48. First resistance is the November 30th high crossing at 114.17. Second resistance is the 50-day moving average crossing at 114.48. 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 Friday as it consolidated some of the rally off last-week's low. 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 bullish signaling that sideways to higher prices are still possible. If March extends this week's rally, the 50-day moving average crossing at 1.3487 is the next upside target. If March renews 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 Thursday's high crossing at 1.3378. Second resistance is the 50-day moving average crossing at 1.3487. 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 lower on Friday as it extends this month's 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 December renews the decline off the November 30th high, November's low crossing at 1.0712 is the next downside target. If March resumes the rally off November's low, the November 30th high crossing at 1.0957 is the next upside 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 Wednesday's low crossing at 1.0791. Second support is November's low crossing at 1.0712.  



The March Canadian 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 diverging and turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 78.38 would temper the near-term bearish outlook. If March renews the decline off October's high, the 50% retracement level of the 2020-2021-rally crossing at 75.95 is the next downside target. First resistance is the 20-day moving average crossing at 78.38. Second resistance is the 50-day moving average crossing at 79.59. First support is Wednesday's low crossing at 77.30. Second support is the 50% retracement level of the 2020-2021-rally crossing at 75.95.



The March Japanese Yen closed slightly 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 remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off November's high, November's low crossing at 0.086715 is the next downside target. Closes above the 10-day moving average crossing at 0.088102 would signal that a short-term low has been posted. 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 Wednesday's low crossing at 0.0875595. Second support is November's low crossing at 0.086715.



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



February gold closed slightly higher on Friday as it extended the rally off Wednesday's low.The low-range close sets the stage for a steady to slightly 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. Closes above the 50-day moving average crossing at $1799.30 would confirm that a short-term low has been posted while opening the door for additional gains near-term. If February resumes 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 $1799.30. Second resistance is the November 26 high crossing at $1819.30. First support is Wednesday's low crossing at 1753.00. Second support is September's low crossing at $1723.70.



March silver closed slightly 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 have turned neutral to bullish signaling that low might be in or is near. Closes above the 20-day moving acreage crossing at 22.715 would confirm that a short-term low has been posted. If March renews the decline off November's high, the 62% retracement level of the May-August rally crossing at 21.003 is the next downside target. First resistance is the 20-day moving average crossing at 22.715. Second resistance is the 50-day moving average crossing at 23.562. First support is Wednesday's low crossing at 21.410. Second support is the 62% retracement level of the May-August rally crossing at 21.003.    



March copper closed lower on Friday as it consolidated some of the rally off Wednesday's low.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 bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 432.11 would confirm that a short-term low has been posted. If March renews the decline off October's high, the 87% retracement level of the August-October rally crossing at 407.53 is the next downside target. First resistance is the 20-day moving average crossing at 432.11. Second resistance is the 50-day moving average crossing at 438.11. First support is the 87% retracement level of the August-October rally crossing at 407.53. Second support is September's low crossing at 401.30.  



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



March Corn closed up $0.02-cents at $5.93 1/4. 



March corn closed higher on Friday as it extended the rally off September's low and posted its highest price since early-July. The low-range close sets the stage for a steady to slightly 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 March extends the rally off the November 30th low, July's high crossing at $6.16 1/2 is the next upside target. Closes below the 20-day moving average crossing at $5.84 1/2 would signal that a short-term top has been posted. First resistance is today's high crossing at $5.98 3/4. Second resistance is July's high crossing at $6.16 1/2. First support is the 20-day moving average crossing at $5.84 1/2. Second support is the 50-day moving average crossing at $5.69 1/2.     



March wheat closed up $0.04 1/2-cents at $7.75.  



March 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. If March extends the aforementioned decline, the 62% retracement level of the July-November rally crossing at $7.21 is the next downside target. Closes above the 20-day moving average crossing at $8.05 3/4 would signal that a short-term low has been posted.First resistance is the 50-day moving average crossing at $7.91 1/4. Second resistance is the 20-day moving average crossing at $8.05 3/4. First support is the 50% retracement level of the July-November rally crossing at $7.50 1/2. Second support is the 62% retracement level of the July-November rally crossing at $7.21.



March Kansas City Wheat closed up $0.06 1/4-cents at $8.10.

 

March Kansas City wheat closed higher on Friday as it consolidated some of the decline off November'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 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 $7.46 3/4 is the next downside target. Closes above the 20-day moving average crossing at $8.29 1/4 would signal that a short-term top has been posted. First resistance is the 20-day moving average crossing at $8.29 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 the 38% retracement level of the July-November rallycrossing at $7.81 1/4. Second support is the 50% retracement level of the July-November rally crossing at $7.46 3/4.



March Minneapolis wheat closed down $0.04 1/4-cents at $10.22 1/2. 



March Minneapolis wheat closed 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at $10.28 would signal that a short-term low has likely been posted while opening the door for additional gains near-term. Closes below the November low crossing at $9.91 3/4 would mark a downside breakout of the November-December trading range while opening the door for additional weakness near-term. 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 $0.08-cents at $12.85 1/2.



January soybeans closed higher on Friday and extended the rally off November's low.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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If January extends the rally off the November 30th low, September's high crossing at $13.18 1/4 is the next upside target. Closes below the 50-day moving average crossing at $12.44 3/4 would signal that a short-term top has been posted. First resistance is today's high crossing at $12.97 1/4. Second resistance is September's high crossing at $13.18 1/4. First support is the 50-day moving average crossing at $12.44 3/4. Second support is the November 30th low crossing at $12.14 1/4. Third support is November's low crossing at $11.81 1/4.



March soybean meal closed up $7.20 at $375.90. 



January soybean meal 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 becoming overbought, diverging but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the aforementioned rally, the 75% retracement level of the May-October decline crossing at $385.30 is the next upside target. Closes below the 20-day moving average crossing at $356.70 would signal that a short-term top has been posted. First resistance is Wednesday's high crossing at $380.20. Second resistance is the 75% retracement level of the May-October decline crossing at $385.30. First support is the 20-day moving average crossing at $356.70. Second support is the 50-day moving average crossing at $342.40.       



March soybean oil closed down 70 pts. at 54.73. 



March soybean oil posted an inside day with a lower close on Friday as it consolidated some of the rally off Wednesday's low. The low-range close sets the stage for a steady to lower opening when Monday's night session begins 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 56.23 would signal that a short-term low has been posted. If March extends the decline off October's high, June's low crossing at 50.29 is the next downside target. First resistance is the 10-day moving average crossing at 54.71. Second resistance is the 20-day moving average crossing at 56.23. First support is Wednesday's low crossing at 51.10. Second support is June's low crossing at 50.29.

 

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



February hogs closed up $0.35 at $80.70. 



February hogs closed higher on Friday. The mid-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. Multiple closes above the 20-day moving average crossing at $80.47 would signal that a short-term low has been posted while opening the door for additional gains near-term. Closes below Wednesday's low crossing at $78.67 would signal that a short-term top 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 December 2nd high crossing at $82.70. Second resistance is November's high crossing at $84.68. First support is Wednesday's low crossing at $78.67. Second support is December's low crossing at $75.35. 



February cattle closed down $0.63 at $136.42. 



February cattle posted an inside day with a lower close on Friday as it extended the decline off November's high. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are becoming oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. Today's close below the 50-day moving average crossing at $136.81 confirms that a short-term top has been posted while opening the door for additional weakness near-term. Closes above Monday's high crossing at $139.27 would signal that a short-term low has been posted. First resistance is the December 3rd high crossing at $140.38. Second resistance is November's high crossing at $141.85. First support is the November 12th low crossing at $135.40. Second support is November's low crossing at $133.77. 



March Feeder cattle closed down $2.67 at $161.65. 



March feeder cattle closed sharply lower on Friday as it extends the decline off November's high and closed below the 50-day moving average crossing at $162.68 signaling that additional weakness is possible near-term. The low-range close sets the stage for a steady to lower opening when Monday'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 March extends the decline off November's high, the November 12th low crossing at $158.12 is the next downside target. Closes above the 20-day moving average crossing at $166.02 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at $166.02. Second resistance is November's high crossing at $169.08. First support is the November 12th low crossing at $158.12. Second support is November's low crossing at $152.25. 



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



March coffee closed 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 bearish signaling that sideways to lower prices are possible near-term. If March renews the decline off December's high, the 50-day moving average crossing at 222.01 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 lower on Friday as it consolidated some of the rally off December's low. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 25.43 would open the door for a larger-degree rally into the end of the year. Closes below the 20-day moving average crossing at 24.80 would confirm that a short-term top has been posted.  



March sugar closed lower on Friday. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off December's high, December's low crossing at 18.46 is a potential downside target. If March renews the rally off December's low, the November 24th high crossing at 20.19 is the next upside target.   



March cotton posted an inside day with a lower close on Friday as it consolidated some of Thursday's rally. 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 50-day moving average crossing at 109.72 would confirm 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. 

Comments
By metmike - Dec. 17, 2021, 10 p.m.
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Thank you tallpine!

NEW: Crude oil

https://www.marketforum.com/forum/topic/79131/

NEW Gold:

https://www.marketforum.com/forum/topic/79176/


natural gas weather keeps changing. It turned MILDER again on Thursday and overnight confirmed that as well as Friday. Still the potential threat of turning much colder at the end of the month.....especially Northern US.

https://www.marketforum.com/forum/topic/78991/


South American weather is STILL BULLISH!

https://www.marketforum.com/forum/topic/75828/


Weather page:

https://www.marketforum.com/forum/topic/78385/


Relevant Radio/weird weather:

https://www.marketforum.com/forum/topic/79123/


Exports and more

https://www.marketforum.com/forum/topic/79018/


Severe weather outbreak last Friday

https://www.marketforum.com/forum/topic/78838/


OJ

https://www.marketforum.com/forum/topic/79039/


Will there be a hit to GDP?

https://www.marketforum.com/forum/topic/78998/


US buck

https://www.marketforum.com/forum/topic/78817/


lumber

https://www.marketforum.com/forum/topic/78524/

               

What the fed really said

              https://www.marketforum.com/forum/topic/79114/       


            Market valuations joj

https://www.marketforum.com/forum/topic/79055/


RR economic indicator bear

https://www.marketforum.com/forum/topic/79055/

                                    

By mikempt - Dec. 19, 2021, 10:23 a.m.
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Thanks! I read these pot everyday!