KEY EVENTS TO WATCH FOR:
Monday, December 27, 2021
10:30 AM ET. December Texas Manufacturing Outlook Survey
Business Activity (previous 11.8)
Mfg Production Idx (previous 27.4)
Tuesday, December 28, 2021
7:45 AM ET. Weekly Chain Store Sales Index
8:55 AM ET. Johnson Redbook Retail Sales Index
Ret Sales Mo-to-Date, M/M%
Ret Sales Mo-to-Date, Y/Y% (previous +15.9%)
Latest Wk, Y/Y% (previous +16.4%)
9:00 AM ET. October S&P CoreLogic Case-Shiller Indices
10-City Idx, M/M% (previous +0.7%)
10-City Idx, Y/Y% (previous +17.8%)
20-City Idx, M/M% (previous +0.8%)
20-City Idx, Y/Y% (previous +19.1%)
National Idx, M/M% (previous +1%)
National Idx, Y/Y% (previous +19.5%)
9:00 AM ET. October U.S. Monthly House Price Index
10:00 AM ET. December Richmond Fed Business Activity Survey
Mfg Idx (previous 11)
Shipments Idx (previous 4)
1:00 PM ET. November Money Stock Measures
4:30 PM ET. API Weekly Statistical Bulletin
Crude Stocks, Net Chg (Bbls) (previous -3.7M)
Gasoline Stocks, Net Chg (Bbls) (previous +3.7M)
Distillate Stocks, Net Chg (Bbls) (previous -0.8M)
Wednesday, December 29, 2021
8:30 AM ET. November Advance Economic Indicators Report
10:00 AM ET. November Pending Home Sales Index
Pending Home Sales (previous 125.2)
Pending Home Sales Idx, M/M% (previous +7.5%)
Pending Home Sales Idx , Y/Y% (previous -1.4%)
10:30 AM ET. EIA Weekly Petroleum Status Report
Crude Oil Stocks (Bbl) (previous 423.571M)
Crude Oil Stocks, Net Chg (Bbl) (previous -4.715M)
Gasoline Stocks (Bbl) (previous 224.118M)
Gasoline Stocks, Net Chg (Bbl) (previous +5.533M)
Distillate Stocks (Bbl) (previous 124.154M)
Distillate Stocks, Net Chg (Bbl) (previous +0.396M)
Refinery Usage (previous 89.6%)
Total Prod Supplied (Bbl/day) (previous 20.454M)
Total Prod Supplied, Net Chg (Bbl/day) (previous -2.737M)
Thursday, December 30, 2021
8:30 AM ET. U.S. Weekly Export Sales
Corn (Metric Tons)
Soybeans (Metric Tons)
Wheat (Metric Tons)
8:30 AM ET. Unemployment Insurance Weekly Claims Report - Initial Claims
Jobless Claims
Jobless Claims, Net Chg
Continuing Claims
Continuing Claims, Net Chg
8:30 AM ET. 3rd Quarter U.S. International Investment Position
9:45 AM ET. December Chicago Business Barometer - ISM-Chicago Business Survey - Chicago PMI
PMI-Adj (previous 61.8)
9:45 AM ET. Consumer Comfort Index
10:00 AM ET. November Metropolitan Area Employment & Unemployment
10:30 AM ET. EIA Weekly Natural Gas Storage Report
Working Gas In Storage (Cbf)
Working Gas In Storage, (Cbf) Net Chg
3:00 AM ET. November Agricultural Prices
Farm Prices, M/M% (previous -1.7%)
4:30 PM ET. Federal Discount Window Borrowings
4:30 PM ET. Foreign Central Bank Holdings
Friday, December 31, 2021
N/A U.S.: New Year's Day observed by federal govt
N/A Extended deadline for the Federal Reserve's temporary U.S.
dollar liquidity swap lines with nine central banks
The STOCK INDEXES? http://quotes.ino.com/ex?changes/?c=indexes
The STOCK INDEXES: The March NASDAQ 100 was higher overnight as it extends the rally 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 neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off last-Monday's low, the December 16th high crossing at 16,457.00 is the next upside target. Closes below the 50-day moving average crossing at 16,005.30 would temper the near-term friendly outlook. If March renews the decline off November's high, the 38% retracement level of the March-November rally crossing at 15,043.89 is the next upside target. First resistance is the December 16th high crossing at 16,457.00. Second resistance is November's high crossing at 16,768.00. First support is last-Monday's low crossing at 15,492.00. Second support is the 38% retracement level of the March-November rally crossing at 15,043.89.
The March S&P 500 was steady to slightly higher overnight as it extends the rally off last-Monday'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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the aforementioned rally, the December 16th high crossing at 4743.25 is the next upside target. Closes below the 50-day moving average crossing at 4622.48 would temper the near-term friendly outlook. First resistance is the December 16th high crossing at 4743.25. Second resistance is unknown.First support is the 50-day moving average crossing at 4622.48. Second support is last-Monday's low crossing at 4520.25.
INTEREST RATES http://quotes.ino.com/ex changes/?c=interest"
INTEREST RATES: March T-bonds was steady to slightly higher overnight. Overnight trading sets the stage for a steady to slightly 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 March extends last-week's decline, the 50-day moving average crossing at 160-01 is the next downside target. Closes above the 20-day moving average crossing at 161-24 would temper the near-term bearish outlook. First resistance is last-Monday's high crossing at 163-19. Second resistance is December's high crossing at 164-12. First support is the 50-day moving average crossing at 160-01. Second support is the November 24th low crossing at 157-12.
March T-notes was steady to lower overnight as it extends the decline off last-Monday's high. Overnight trading sets the stage for a steady to lower opening with the day session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off last-Monday's high, the 50-day moving average crossing at 130.064 is the next downside target. If March renews the rally off October's low, the 62% retracement level of the August-November decline crossing at 132.065 is the next upside target. First resistance is the 50% retracement level of the August-November decline crossing at 131.171. Second resistance is the 62% retracement level of the August-November decline crossing at 132.065. First support is the 50-day moving average crossing at 130.064. Second support is the December 8th low crossing at 129.310.
ENERGY MARKETS? http://quotes.ino.com/ex?changes/?c=energy ""
ENERGIES:February crude oil was slightly lower overnight. Overnight trading sets the stage for lower opening when the day 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 February extends the rally off last-Monday's low, the 50-day moving average crossing at $75.34 is the next upside target. Closes below the 20-day moving average crossing at $70.15 would signal that a short-term top has been posted. First resistance is the 50-day moving average crossing at $75.34. Second resistance is the November 24th high crossing at $78.59. First support is last-Monday's low crossing at $66.12. Second support is December's low crossing at $62.26.
February heating oil was lower overnight as it consolidates some of the rally off December's low. Overnight trading sets the stage for a lower opening when the day 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 February extends the rally off December's low, the 50-day moving average crossing at $2.3341 is the next upside target. Closes below the 20-day moving average crossing at $2.2022 would confirm that a short-term top has been posted. First resistance is the 50-day moving average crossing at $2.3341. Second resistance is the November 24th high crossing at 2.3969. First support is last-Monday's low crossing at $2.1045. Second support is December's low crossing at $1.9974.
February unleaded gas was steady to lower overnight as it consolidates some of the rally off December's low. The low-range trade overnight sets the stage for a steady to lower opening when the day session begins trading. 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 2.2006 would open the door for additional gains near-term. Closes below the 20-day moving average crossing at 2.0818 would signal that a short-term top has been posted. First resistance is the 50-day moving average crossing at 2.2006. Second resistance is the November 24th high crossing at 2.2684. First support is last-Monday's low crossing at 2.0161. Second support is December's low crossing at 1.8646.
February Henry natural gas was slightly higher overnight as it extends December's trading range. Overnight trading sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the December 6th gap crossing at 4.010 would signal that a short-term low has been posted. 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. First resistance is the December 6th gap crossing at 4.010. Second resistance is the 50-day moving average crossing at 4.744. 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.
CURRENCIEShttp://quotes.ino.com/ex changes/?c=currencies"
CURRENCIES:The March Dollar was higher overnight as it extends the November-December trading range. Overnight trading sets the stage for a slightly 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 May'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 $95.35. First resistance is the December 15th high crossing at $96.89. 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 $95.35.
The March Euro was slightly lower overnight as it extends the trading range of the November-December trading range.The low-range overnight trade sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the November 30th high crossing at $114.17 would mark an upside breakout of the aforementioned trading range while opening the door for additional gains 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. First resistance is the November 30th high crossing at $114.17. Second resistance is the 50-day moving average crossing at $114.50. 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 lower overnight as it consolidates some of the rally off last-Monday's low. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends last-week's rally, the 50-day moving average crossing at 1.3457 is the next upside target.If March renews the decline off May's high, the 50% retracement level of the 2020-2021-rally crossing at 1.2893 is the next downside target.First resistance the 50-day moving average crossing at 1.3457. Second resistance is the November 18th high crossing at 1.3479. First support is the December 8th 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 as it extends the November-December trading range. 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 becoming overbought but remain neutral to bullish 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 the December 15th low crossing at 1.0791 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 the December 15th low crossing at 1.0791. Second support is November's low crossing at 1.0712.
The March Canadian Dollar 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at $78.11 would temper the near-term bearish outlook. If March resumes 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 $78.11. Second resistance is the 50-day moving average crossing at $79.32. First support is last-Monday's low crossing at $77.13. Second support is the 50% retracement level of the 2020-2021-rally crossing at $75.95.
The March Japanese Yen was lower overnight as it extends the decline off November's high. 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, November's low crossing at 0.086715 is the next downside target. Closes above the 20-day moving average crossing at 0.088092 would signal that a short-term low has been posted. First resistance is the December 17th high crossing at 0.088485. Second resistance is November's high crossing at 0.088985. First support is the overnight low crossing at 0.087240. Second support is November's low crossing at 0.086715.
PRECIOUS METALS http://quotes.ino.com/ex changes/?c=metals"
PRECIOUS METALS: Februarygold was steady to slightly lower overnight setting the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are becoming overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If February resumes the rally off the December 15th low, the November 26th high crossing at $1819.30 is the next upside target. Closes below the 20-day moving average crossing at $1786.80 would temper the near-term friendly outlook. 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 November 26th high crossing at $1819.30. Second resistance is November's high crossing at $1881.90. First support is the December 15th low crossing at $1753.00. Second support is September's low crossing at $1723.70.
March silver was steady to lower overnight. The low-range trade sets the stage for a steady to lower opening when the day session begins trading later this morning. Stochastics and the RSI are overbought but remain 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 $23.534 is the next upside target. If March renews the decline off November's high, the 62% retracement level of 2020's rally crossing at $21.003 is the next downside target. First resistance is the 50-day moving average crossing at $23.534. Second resistance is November's high crossing at $25.540. First support is the December 15th low crossing at $21.410. Second support is the 62% retracement level of 2020's rally crossing at $21.003.
March copper was steady to lower overnight as it consolidates some of the rally off the December 15th low. The high-range overnight trade sets the stage for a steady to slightly lower opening when the day session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. Multiple closes above the 50-day moving average crossing at 4.3778 would open the door for additional short-term gains. Closes below the 20-day moving average crossing at 4.3125 would signal that a short-term top has been posted. First resistance is the 50-day moving average crossing at 4.3778. Second resistance is November's high crossing at 4.5115. First support is the 75% retracement level of the August-October rally crossing at 4.1724. Second support is the 87% retracement level of the August-October rally crossing at 4.0753.
GRAINS http://quotes.ino.com/ex changes/?c=grains
March corn was higher overnight as it extends last-week's breakout above psychological resistance crossing at $6.00.The high-range trade overnight sets the stage for a steady to higher opening when the day sessions begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off September's low, the June high crossing at $6.16 1/2 is the next upside target. Closes below the 20-day moving average crossing at $5.88 3/4 would signal that a short-term top has been opened. First resistance is the overnight high crossing at $6.12 1/2. Second resistance is June's high crossing at $6.16 1/2. First support is the 20-day moving average crossing at $5.88 3/4. Second support is the 50-day moving average crossing at $5.76 1/4.
March wheat was higher overnight as it extends the rally off December's low. Overnight trading sets the stage for a higher opening when the day session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the December 3rd high crossing at $8.22 3/4 would open the door for additional gains and a possible test of November's high crossing at $8.74 3/4. Closes below the 10-day moving average crossing at $7.90 1/2 would signal that a short-term top has been posted. First resistance is the December 3rd high crossing at $8.22 3/4. Second resistance is November's high crossing at $8.74 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 was higher overnight as it extends the rally off December's low. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the aforementioned rally, November's high crossing at $8.92 1/4 is the next upside target. Closes below the 50-day moving average crossing at $8.13 3/4 would signal that a short-term top has been posted. First resistance is the overnight high crossing at $8.70 3/4. Second resistance is November's high crossing at $8.92 1/4. First support isthe 50-day moving average crossing at $8.13 3/4. Second support is the 38% retracement level of the July-November rally crossing at $7.81 1/4.
March Minneapolis wheat was higher overnight as it extends the November-December trading range. Overnight trading sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off the December 15th low, December's high crossing at $10.47 1/2 is the next upside target. 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. First resistance is December's high crossing at $10.47 1/2. Second resistance is November's high crossing at $10.66 1/4. 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 "
March soybeans was higher overnight as it extends the rally off November's low. The high-range overnight trade sets the stage for a steady to higher opening when the day 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 March extends the rally off the late-November low, August's high crossing at $13.76 1/4 is the next upside target. Closes below the 20-day moving average crossing at $12.77 3/4 would signal that a short-term top has been posted. First resistance is the 62% retracement level of the June-November decline crossing at $13.49 1/2. Second resistance is the 75% retracement level of the June-November decline crossing at $13.83. First support is the 10-day moving average crossing at $12.98 1/4. Second support is the 20-day moving average crossing at $12.77 3/4.
March soybean meal was higher overnight as it extends the rally off October's low. Overnight trading sets the stage for a steady to higher opening when the day 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 March extends the rally off October's low, May's high crossing at $408.80 is the next upside target. Closes below the 10-day moving average crossing at $382.50 would signal that a short-term top has been posted. First resistance is the overnight high crossing at $404.30. Second resistance is May's high crossing at $408.80. First support is the 10-day moving average crossing at $382.50. Second support is the 20-day moving average crossing at $366.90.
March soybean oil was steady to slightly higher overnight as it extends the rally off December's low. Overnight trading sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the aforementioned rally, the 50-day moving average crossing at 57.90 is the next upside target. Closes below the 10-day moving average crossing at 54.08 would temper the near-term friendly outlook. First resistance is the 50-day moving average crossing at 57.90. Second resistance is the December 7th high crossing at 58.66. First support is the 10-day moving average crossing at 54.08. Second support is December's low crossing at 51.55.
Thanks tallpine!