KEY EVENTS TO WATCH FOR:
Thursday, January 6, 2022
7:30 AM ET. December Challenger Job-Cut Report
Job Cuts, M/M% (previous -34.82%)
8:30 AM ET. U.S. Weekly Export Sales
Corn (Metric Tons)
Soybeans (Metric Tons)
Wheat (Metric Tons)
8:30 AM ET. November U.S. International Trade in Goods & Services
Trade Balance (USD) (previous -67.1B)
Exports (USD) (previous 223.6B)
Exports, M/M% (previous +8.1%)
Imports (USD) (previous 290.7B)
Imports, M/M% (previous +0.9%)
8:30 AM ET. Unemployment Insurance Weekly Claims Report - Initial Claims
Jobless Claims
Jobless Claims, Net Chg
Continuing Claims
Continuing Claims, Net Chg
9:45 AM ET. Consumer Comfort Index
10:00 AM ET. December ISM Report On Business Services PMI
Non-Mfg Composite Idx (previous 69.1)
Non-Mfg Business Idx (previous 74.6)
Prices Idx (previous 82.3)
Employment Idx (previous 56.5)
New Orders Idx (previous 69.7)
10:00 AM ET. November Manufacturers' Shipments, Inventories & Orders (M3)
Total Orders, M/M% (previous +1.0%)
Orders, Ex-Defense, M/M% (previous +1.6%)
Orders, Ex-Transport, M/M% (previous +1.6%)
Durable Goods, M/M%
Durable Goods, M/M%
10:30 AM ET. EIA Weekly Natural Gas Storage Report
Working Gas In Storage (Cbf)
Working Gas In Storage, (Cbf) Net Chg
11:00 AM ET. December Global Services PMI
PMI, Services (previous 55.6)
4:30 PM ET. Federal Discount Window Borrowings
4:30 PM ET. Foreign Central Bank Holdings
Friday, January 7, 2022
8:30 AM ET. December U.S. Employment Report
Non-Farm Payrolls (expected +405K; previous +210K)
Unemployment Rate (expected 4.1%; previous 4.2%)
Avg Hourly Earnings (USD) (previous 31.03)
Avg Hourly Earnings-Net Chg (USD) (previous +0.08)
Avg Hourly Earnings, M/M% (expected +0.4%; previous +0.26%)
Avg Hourly Earnings, Y/Y% (expected +4.2%; previous +4.80%)
Overall Workweek (previous 34.8)
Overall Workweek Net Chg (previous +0.1)
Government Payrolls (previous -25K)
Private Payroll (previous +235K)
Participation Rate (previous 61.8%)
Non-Farm Payrolls Bench Net Chg
3:00 PM ET. November Consumer Credit
Consumer Credit Net Chg (USD) (expected +25.0B; previous +16.9B)
Monday, January 10, 2022
10:00 AM ET. December Employment Trends Index
ETI (previous 114.49)
ETI, Y/Y%
10:00 AM ET. November Monthly Wholesale Trade
Inventories, M/M% (previous +2.3%)
Tuesday, January 11, 2022
6:00 AM ET. December NFIB Index of Small Business Optimism
Small Business Idx (previous 98.4)
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%
Latest Wk, Y/Y%
10:00 AM ET. January IBD/TIPP Economic Optimism Index
Economic Optimism Idx (previous 48.4)
6-Mo Economic Outlook (previous 42.8)
4:30 PM ET. API Weekly Statistical Bulletin
Crude Stocks, Net Chg (Bbls)
Gasoline Stocks, Net Chg (Bbls)
Distillate Stocks, Net Chg (Bbls)
The STOCK INDEXES? http://quotes.ino.com/ex?changes/?c=indexes
The Dow posted a key reversal down on Wednesday as it consolidated some of the rally off December's low. The low-range close sets the stage for a steady to lower opening when Thursday'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 rally off December's low into uncharted territory, upside targets will be hard to project. Closes below the 50-day moving average crossing at 35,793.50 would signal that a short-term top has been posted. First resistance is today's high crossing at 36,952.65. Second resistance is unknown. First support is the 50-day moving average crossing at 35,793.50. Second support is the December 20th low crossing at 34,665.50.
The March NASDAQ 100 closed sharply lower on Wednesday following Tuesday's key reversal down as it extended the November-January trading range. The low-range close sets the stage for a steady to lower opening when Thursday's session begins trading. Stochastics and the RSI have turned neutral to bearish signaling that a short-term top might be in or is near. If March extends the decline off December's high, December's low crossing at 15,492.00 is the next downside target. Closes above November's high crossing at 16,768.00 would mark an upside breakout of the aforementioned trading range.First resistance is December's high crossing at 16,659.50. Second resistance is November's high crossing at 16,768.00. First support is today's low crossing at 15,879.00. Second support is December's low crossing at 15,492.00.
The March S&P 500 closed lower on Wednesday as it consolidated some of the rally off the January 20th low. Today's low-range close sets the stage for a steady to lower opening when Thursday's session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling sideways to higher prices are possible near-term. If March extends the rally off December's low into uncharted territory, upside targets will be hard to project. Closes below the 50-day moving average crossing at 4660.17 would signal that a short-term top has been posted.First resistance is Tuesday's high crossing at 4808.25. Second resistance is unknown. First support is the 50-day moving average crossing at 4660.17. Second support is the December 20th low crossing at 4520.25.
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March T-bonds closed down 17/32's at 156-09.
March T-bonds closed lower on Wednesday as it extended the decline off December's high. The low-range close sets the stage for a steady to lower 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. If March extends the decline off December's high, October's low crossing at 155-26 is the next downside target. Closes above the 20-day moving average crossing at 160-18 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at 159-13. Second resistance is the 20-day moving average crossing at 160-18. First support is today's low crossing at 156-05. Second support is October's low crossing at 155-26.
March T-notes closed down 120-pts. at 128.290.
March T-notes closed lower on Wednesday as it extends the decline off December's high. The low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling sideways to lower prices are possible near-term. If March extends the decline off December's high, the November 24th low crossing at 128.225 is the next downside target. Closes above the 20-day moving average crossing at 130.129 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at 130.073. Second resistance is the 20-day moving average crossing at 130.129. First support is today's low crossing at 128.255. Second support is November's low crossing at 128.225.
ENERGY MARKETS? http://quotes.ino.com/ex?changes/?c=energy ""
February crude oil closed higher on Wednesday as it extended the rally off December's low. The mid-range close sets the stage for a steady to higher opening when Thursday's night session begins. 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 87% retracement level of the October-December decline crossing at $79.60 is the next upside target. Closes below the 20-day moving average crossing at $73.34 would signal that a short-term top has been posted. First resistance is today's high crossing at $78.58. Second resistance is the 87% retracement level of the October-December decline crossing at $79.60. First support is the 20-day moving average crossing at $73.34. Second support is the December 20th low crossing at $66.12.
February heating oil closed higher on Wednesday as it extends the rally off December's low. The mid-range close sets the stage for a steady to higher opening when Thursday's night trading session begins. 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 aforementioned rally, the 87% retracement level of the October-December decline crossing at $248.81. Closes below the 20-day moving average crossing at $229.57 would signal that a short-term top has been posted. First resistance is today's high crossing at $246.24. Second resistance is the 87% retracement level of the October-December decline crossing at $248.81. First support is the 20-day moving average crossing at $229.57. Second support is the December 20th low crossing at $210.45.
February unleaded gas closed slightly higher on Wednesday as it extends the rally off December's low. The mid-range close sets the stage for a steady to higher opening when Thursday'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 February extends the rally off December's low, November's high crossing at $234.41 is the next upside target. Closes below the 20-day moving average crossing at $218.19 would signal that a short-term top has been posted. First resistance is November's high crossing at 234.41. Second resistance is October's high crossing at 240.26. First support is the 20-day moving average crossing at $218.19. Second support is the December 20th low crossing at $201.61.
February Henry natural gas closed slightly higher on Wednesday as it extends the December-January trading range. 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 neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the December 6th gap crossing at 4.010 would mark an upside breakout of the aforementioned trading range while signaling that a low has been posted. If February renews the decline off October's high, the 87% retracement level of the 2020-2021-rally crossing at 3.050 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 4.504. 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 slightly lower on Wednesday as it extends the November-January trading range. The high-range close sets the stage for a steady to slightly lower opening when Thursday's nights session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above December's high crossing at $96.90 or below the November 30th low crossing at $95.50 are needed to mark a breakout of the aforementioned trading range and point the direction of the next trending move. First resistance is the December 15th 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 25% retracement level of this year's rally crossing at $95.07.
The March Euro closed higher on Wednesday while extending the November-January trading range. The mid-range close sets the stage for a steady to higher opening when Thursday'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 extends the decline off last-Friday's high, November's low crossing at 112.22 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 additional gains near-term. First resistance is the November 30th high crossing at 114.17. Second resistance is the 25% retracement level of the January-November decline crossing at 115.23. 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 higher on Wednesday as it extended the rally off December's low. The mid-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are still possible. If March extends the rally off December's low, the November 4th high crossing at 1.3692 is the next upside target. Closes below the 20-day moving average crossing at 1.3358 would temper the near-term friendly outlook. 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 the November th high crossing at 1.3692. Second resistance is the October high crossing at 1.3826. First support is the 20-day moving average crossing at 1.3358. Second support is the 38% retracement level of the 2020-2021 rally crossing at 1.3207.
The March Swiss Franc posted an inside day with a lower close on Wednesday.The low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at 1.0900 would signal that a short-term top has been posted. If March extends the rally off November's low, the November high crossing at 1.1042 is the next upside target. First resistance is December's high crossing at 1.1005. Second resistance is November'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 posted an inside day with a lower close on Wednesday. The low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If March renews the decline off October's high, the 50% retracement level of the 2020-2021-rally crossing at 75.95 is the next downside target. Closes above the 50-day moving average crossing at 78.99 would open the door for additional gains near-term. First resistance is the 50-day moving average crossing at 78.99. Second resistance is the November 15th high crossing at 79.99. First support is December'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 posted an inside day with a slightly lower close on Wednesday. The low-range close sets the stage for a steady to lower 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. If March extends the decline off November's high, weekly support on the continuation chart crossing at 0.084932 is the next downside target. Closes above the 50-day moving average crossing at 0.087792 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at 0.086936. Second resistance is the 20-day moving average crossing at 0.087489. First support is Tuesday's low crossing at 0.085980. Second support is weekly support on the continuation chart crossing at 0.084932.
PRECIOUS METALS? http://quotes.ino.com/ex?changes/?c=metals ""
February gold closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening when Thursday'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 20-day moving average crossing at $1798.30 would signal that a short-term top has been posted while opening the door for additional weakness near-term. If February renews the rally off December's low, September's high crossing at 1838.70 is the next upside target. First resistance is Monday's high crossing at $1833.00. Second resistance is September's high crossing at $1838.70. First support is the 20-day moving average crossing at $1798.30. Second support is December's low crossing at 1753.00.
March silver closed lower on Wednesday as it extends the trading range of the past eight-days. The low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are turning neutral signaling that sideways trading is possible near-term. Closes below the 20-day moving average crossing at 22.605 would signal that a short-term top has been posted while opening the door for additional weakness near-term. Closes above the 50-day moving acreage crossing at 23.392 would open the door for a larger-degree rally during the first half of January. First resistance is the 50-day moving average crossing at 23.392. Second resistance is October's high crossing at 24.960. First support is December'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 Wednesday.The low-range close sets the stage for a steady to lower opening when Thursday'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 March extends the rally off December's low, November's high crossing at 451.15 is the next upside target. Closes below the 50-day moving average crossing at 435.53 would signal that a short-term top has been posted. First resistance is last-Tuesday's high crossing at 449.85. Second resistance is November's high crossing at 451.15. First support is the 50-day moving average crossing at 435.53. Second support is the 87% retracement level of the August-October rally crossing at 407.53.
GRAINS? http://quotes.ino.com/ex?changes/?c=grains "
March Corn closed down $0.07-cents at $6.02 1/2.
March corn posted an inside day with a lower close on Wednesday as it consolidated some of the rally off Monday's low. The low-range close sets the stage for a steady to lower opening when Thursday'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 extends the rally off Monday's low, last-Tuesday's high crossing at $6.17 3/4 is the next upside target. Closes below the 50-day moving average crossing at $5.84 1/2 would signal that a short-term top has been posted. First resistance is last-Tuesday's high crossing at $6.17 3/4. Second resistance is June's high crossing at $6.33. First support is the 50-day moving average crossing at $5.84 1/2. Second support is the November 30th low crossing at $5.62 1/2.
March wheat closed down $0.09 3/4-cents at $7.60 1/4.
March wheat closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening when Thursday'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 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 50-day moving average crossing at $7.99 1/2 would signal that a short-term low has been posted. First resistance is last-week's high crossing at $8.24. 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 closed down $0.16 3/4-cents at $7.87 1/4.
March Kansas City wheat closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening when Thursday'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 extends the decline off last-Monday's high, the 50% retracement level of the July-November rally crossing at $7.46 3/4 is the next downside target. If March renews the rally off December's low, November's high crossing at $8.92 1/4 is the next upside target.First resistance is last-Monday's high crossing at $8.71. Second 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 $0.22 1/4-cents at $9.48 1/4.
March Minneapolis wheat closed sharply lower on Wednesday as it extended the decline off November's high. The low-range close sets the stage for a steady to lower 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. If March extends the decline off November's high, the 38% retracement level of the 2020-2021-decline crossing at $8.78 1/2 is the next downside target. Closes above the 50-day moving average crossing at $10.19 3/4 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at $10.19 3/4. Second resistance is the 25% retracement level of the 2020-2021-rally crossing at $9.43 1/2. Second support is the 38% retracement level of the 2020-2021-decline crossing at $8.78 1/2.
SOYBEAN COMPLEX? http://quotes.ino.com/ex?changes/?c=grains "
March soybeans closed up $0.03 1/4-cents at $13.93.
March soybeans closed higher on Wednesday as it extended the rally off November's low. Today's mid-range close sets the stage for a steady to higher opening when Thursday'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, the 87% retracement level of the June-November decline crossing at $14.13 1/4 is the next upside target. Closes below last-Thursday's low crossing at $13.34 1/2 would signal that a short-term top has been posted. First resistance is today's high crossing at $13.99. Second resistance is the 87% retracement level of the June-November decline crossing at $14.13 1/4. First support is last-Thursday's low crossing at $13.34 1/2. Second support is the 20-day moving average crossing at $13.18 1/2.
March soybean meal closed down $1.10 at $413.60.
March soybean meal closed lower on Wednesday. The mid-range close sets the stage for a steady to lower opening when Thursday'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 March extends the rally off October's low, the 75% retracement level of the January-October decline on the weekly continuation chart crossing at $431.20 is the next upside target. Closes below last-Thursday's low crossing at $398.20 would signal that a short-term top has been posted. First resistance is today's high crossing at $416.50. Second resistance is the 75% retracement level of the January-October decline on the weekly continuation chart crossing at $431.20. First support is last-Thursday's low crossing at $398.20. Second support is the 20-day moving average crossing at $388.50.
March soybean oil closed up 103 pts. at 59.36.
March soybean oil closed higher on Wednesday as it extends the rally off December's low. 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 overbought 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 2021's decline crossing at 61.16 is the next upside target. Closes below the 20-day moving average crossing at 55.33 would signal that a short-term top has been posted. First resistance is the 62% retracement level of 2021's decline crossing at 59.24. Second resistance is the 75% retracement level of 2021's decline crossing at 61.16 First support is the 20-day moving average crossing at 55.33. Second support is December's low crossing at 51.10.
LIVESTOCKhttp://quotes.ino.com/exchanges/?c=livestock
February hogs closed up $2.33 at $82.48.
February hogs closed higher on Wednesday as it consolidated some of the decline off December's high. The high-range close sets the stage for a steady to higher opening when Thursday's 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 50-day moving average crossing at $80.47 would signal that a short-term top has been posted while opening the door for additional gains near-term. If February renews the rally off December's low, October's high crossing at $87.48 is the next upside target. First resistance is November's high crossing at $84.68. Second resistance is October's high crossing at $87.48. First support is the 50-day moving average crossing at $80.47. Second support is the December 15th low crossing at $78.67.
February cattle closed down $0.58 at $137.25.
February cattle closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI have neutral to bearish signaling that sideways to lower prices are possible near-term. If February extends the decline off December's high, December's low crossing at $135.50 is the next downside target. If February renews the rally off December's low, November's high crossing at $141.85 is the next upside target. First resistance is December's high crossing at $141.43. Second resistance is November's high crossing at $141.85. First support is December's low crossing at $135.50. Second support is the 62% retracement level of the September-November rally crossing at $134.30.
March Feeder cattle closed down $0.25 at $166.10.
March feeder cattle closed lower on Wednesday. The mid-range close sets the stage for a steady to lower opening when Thursday's session begins trading. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at $163.67 would signal that a short-term top has been posted. If March resumes the rally off December's low, August's high crossing at $171.58 is the next upside target. First resistance is last-Friday's high crossing at $170.83. Second resistance is August's high crossing at $171.58. First support is the 20-day moving average crossing at $165.26. Second support is the 50-day moving average crossing at $163.67.
FOOD & FIBERhttp://quotes.ino.com/ex changes/?c=food
March coffee posted an inside day with a slightly higher close on Wednesday. The mid-range close sets the stage for a steady to higher opening on Thursday. 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 232.01 would signal that a short-term low has been posted. If March renews the decline off December's high, November's low crossing at 201.45 is the next downside target.
March cocoa closed slightly lower on Wednesday. The mid-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends Tuesday's decline, the December 20th low crossing at 24.17 is the next downside target. Closes above December's high crossing at 25.76 would signal that a short-term low has been posted.
March sugar closed lower on Wednesday as it renewed the decline off November's high. The low-range close sets the stage for a steady to lower opening on Thursday. 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 38% retracement level of the 2020-2021 rally crossing at 17.28 is the next downside target. Closes above the 50-day moving average crossing at 19.41 would confirm that a low has been posted.
March cotton closed slightly lower on Wednesday as it consolidated some of the rally off December's low. The mid-range close sets the stage for a steady to lower opening on Thursday. 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 118.50 is the next upside target. Closes below the 20-day moving average crossing at 109.70 would signal that a short-term top has been posted.
Thanks tallpine!