KEY EVENTS TO WATCH FOR:

Thursday, September 15, 2022 

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

                       Import Prices (previous -1.4%)

                       Non-Petroleum Prices (previous -0.7%)

                       Petroleum Prices (previous -6.8%)

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

                       Jobless Claims (previous 222K)

                       Jobless Claims, Net Chg (previous -6K)

                       Continuing Claims (previous 1473000)

                       Continuing Claims, Net Chg (previous +36K)

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

                       Corn (Metric Tons)

                       Soybeans (Metric Tons)

                       Wheat (Metric Tons)

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

                       Business Activity (previous 6.2)

                       Prices Paid (previous 43.6)

                       Employment (previous 24.1)

                       New Orders (previous -5.1)

                       Prices Received (previous 23.3)

                       Delivery Times (previous 2.7)

                       Inventories (previous 2.3)

                       Shipments (previous 24.8)

8:30 AM ET. September Empire State Manufacturing Survey

                       Mfg Idx (previous -31.3)

                       Employment Idx (previous 7.4)

                       New Orders Idx (previous -29.6)

                       Prices Received (previous 32.7)

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

                       Overall Sales-SA, M/M% (previous +0%)

                       Sales, Ex-Auto, M/M% (previous +0.4%)

                       Sales, Ex-Auto & Gas, M/M% (previous +0.7%)

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

                       Industrial Production, M/M% (previous +0.6%)

                       Capacity Utilization % (previous 80.3%)

                       Capacity Utilization, Net Chg (Pts) (previous +0.4)

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

                       Total Inventories (previous +1.4%)

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

                       Working Gas In Storage (Cbf) (previous 2694B)

                       Working Gas In Storage, Net Chg (Cbf) (previous +54B)

4:30 PM ET. Foreign Central Bank Holdings

4:30 PM ET. Federal Discount Window Borrowings

Friday, September 16, 2022 

10:00 AM ET. September University of Michigan Survey of Consumers - preliminary

                       Mid-Mo Sentiment (previous 55.1)

                       Mid-Mo Expectations (previous 54.9)

                       Mid-Mo Current Idx (previous 55.5)

10:00 AM ET. August State Employment and Unemployment

4:00 PM ET. July Treasury International Capital Data

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

The Dow closed slightly higher on Wednesday as it consolidates some of the decline off August'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 have turned neutral to bearish signaling that sideways to lower prices are possible near-term. If the Dow extends the decline off August's high, the 75% retracement level of the June-August rally crossing at 30,813.63 is the next downside target. Closes above the 20-day moving average crossing at 32,292.65 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 32,292.65. Second resistance is the August 26^th high crossing at 33,364.70. First support is the 75% retracement level of the June-August rally crossing at 30,813.63. Second support is the 87% retracement level of the June-August rally crossing at 30,255.18.

The December NASDAQ 100 posted an inside day with a higher close on Wednesday as it consolidates some of Tuesday's huge sell off. Today's high-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 sideways to lower prices are possible. If December renews the decline off August's high, the 75% retracement level of the June-August rally crossing at 11,799.16 is the next downside target. Closes above Tuesday's high crossing at 12,987.00 would signal that a short-term low has been posted. First resistance is Tuesday's crossing at 12,987.00. Second resistance is the August 26^th high crossing at 13,296.25. First support is is the 75% retracement level of the June-August rally crossing at 11,799.16. Second support is the 87% retracement level of the June-August rally crossing at 11,474.02.

The December S&P 500 closed higher on Wednesday as it consolidated some of Tuesday's decline. The high-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 December extends the decline off August's high, the 75% retracement level of the June-August rally crossing at 3828.16 is the next downside target. Closes above Tuesday's high crossing at 4175.00 are needed to renew the rally off last-Wednesday's low. First resistance is Tuesday's high crossing at 4175.00. Second resistance is the August 26^th high crossing at 4234.25. First support is last-Wednesday's low crossing at 3900.00. Second support is the 75% retracement level of the June-August rally crossing at 3828.16.    

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

December T-bonds closed up 6-pts. at 132-03. 

December T-bonds closed higher on Wednesday. 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. If December extends the decline off August's high, June's low crossing at 131-01 is the next downside target. Closes above the 20-day moving average crossing at 135-11 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at 133-08. Second resistance is the 20-day moving average crossing at 135-11. First support is today's low crossing at 131-04. Second support is June's low crossing at 131-01.

December T-notes closed down 10-pts. at 114.295.

December T-notes closed lower on Wednesday as it extends the decline off August's high. 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 oversold but remain neutral to bearish signaling sideways to lower prices are possible near-term. If December extends the decline off August's high, June's low crossing at 114.060 is the next downside target. Closes above the 20-day moving average crossing at 116.275 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 116.275. Second resistance is the 50-day moving average crossing at 118.113. First support is today's low crossing at 114.170. Second support is the June 14^th low crossing at 114.075.  

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

October crude oil closed higher on Wednesday as it extends the rally off last-Thursday'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 neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at $91.36 would signal that a short-term low has been posted. If October renews the decline off August's high, the 50% retracement level of the 2021-2022 rally crossing at $75.35 is the next downside target. First resistance is the 20-day moving average crossing at 89.24. Second resistance is the 50-day moving average crossing at $91.36. First support is last-Thursday's lowcrossing at $81.20. Second support is the February 18^th lowcrossing at $79.83.  

October heating oil closed sharply lower on Wednesday as it renewed the decline off August's high. The low-range close sets the stage for a steady to lower opening when Thursday's night trading session begins. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. If October extends the decline off August's high, August's low crossing at 3.1167 is the next downside target. Closes above Monday's high crossing at 3.7050 would signal that a short-term low has been posted. First resistance is Monday's high crossing at 3.7050. Second resistance is August's high crossing at 4.0392. First support is August's low crossing at 3.1167. Second support is the 50% retracement level of the 2021-2022 rally crossing at 3.7707. 

October unleaded gas closed higher on Wednesday as it extends the rally off last-Thursday'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 neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at $2.5584 would confirm that a short-term low has been posted. If October renews the decline off June's high, the 50% retracement level of the 2021-2022 rally crossing at 2.2446 is the next downside target. First resistance is the 20-day moving average crossing at 2.5584. Second resistance is the 50-day moving average crossing at $2.6992. First support is last-Thursday's low crossing at 2.2890. Second support is the 50% retracement level of the 2021-2022 rally crossing at 2.2446.

October Henry natural gas closed sharply higher on Wednesday and above the 20-day moving average crossing at 8.874 signaling that a short-term low has been posted. The high-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 bullish signaling that sideways to higher prices are possible near-term. If October extends today's rally, the August 29^th high crossing at 9.711 is the next upside target. If October renews the decline off August's high, the 62% retracement level of the June-August rally crossing at 7.133 is the next downside target.First resistance is the August 29^th high crossing at 9.711. Second resistance is August's high crossing at 9.987. First support is September's low crossing at 7.751. Second support is the 62% retracement level of the July-August rally crossing at 7.133.      

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

The December Dollar closed slightly lower as it consolidated some of Tuesday's rally. The high-range close sets the stage for a steady to higher opening when Thursday's nights session begins trading. Stochastics and the RSI are turning neutral to bullish signaling sideways to higher prices are possible near-term. If December renews the rally off August's low, monthly resistance crossing at $114.782 is the next upside target. Closes below the 50-day moving average crossing at $107.230 would confirm that a short-term top has been posted. First resistance is last-Wednesday's high crossing at $110.480. Second resistance is monthly resistance crossing at $114.782. First support is the 50-day moving average crossing at $107.230. Second support is August's low crossing at $104.150.   

The December Euro closed slightly lower on Wednesday as it extended Tuesday's decline. 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. If December extends this year's decline, the 87% retracement level of the 2000-2008 rally on the monthly continuation chart crossing at $0.93211 is the next downside target. Closes above the 50-day moving average crossing at $1.02037 is needed to confirm that a low has been posted. First resistance is the 50-day moving average crossing at $1.02037. Second resistance is August's high crossing at 1.04650. First support is last-Tuesday's low crossing at $0.99350. Second support is the 87% retracement level of the 2000-2008 rally on the monthly continuation chart crossing at $0.93211. 

The December British Pound closed higher on Wednesday leaving Tuesday's key reversal down unconfirmed at this time. 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 turning neutral to bearish signaling sideways to lower prices are possible near-term. If December extends this year's decline, psychological support crossing at 1.1400 is the next downside target. Closes above the 20-day moving average crossing at 1.1703 would signal that a short-term low has been posted. First resistance the 20-day moving average crossing at 1.1703. Second resistance is the 50-day moving average crossing at 1.1934. First support is last-Wednesday's low crossing at 1.1427. Second support is psychological support crossing at 1.1400.   

The December Swiss Franc closed lower on Wednesday following Tuesday's key reversal down as it consolidated some of the rally off last-Wednesday'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 bearish signaling that sideways to lower prices are possible near-term. Closes below the 10-day moving average crossing at 1.03743 would signal that a short-term top has been posted. If December extends the rally off last-Wednesday's low. Closes below the 10-day moving average crossing at 1.03845 would signal that a short-term top has been posted. First resistance is Wednesday's high crossing at 1.06325. Second resistance is August's high crossing at 1.07550. First support is the 10-day moving average crossing at 1.03845. Second support is last-Wednesday's low crossing at 1.02210.   

The December Canadian Dollar closed lower on Wednesday following Tuesday's key reversal down. 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. If December renews the decline off August's high, the 62% retracement level of the 2020-2021 rally crossing at 74.06 is the next downside target. Closes above the 50-day moving average crossing at 77.14 would signal that a short-term low has been posted.First resistance is the 50-day moving average crossing at 77.14. Second resistance is the August 25^th high crossing at 77.50. First support is last-Wednesday's low crossing at 75.67. Second support is the 62% retracement level of the 2020-2021 rally crossing at 74.06.

The December Japanese Yen posted an inside day with a higher close on Wednesday. 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. If December extends this year's decline, is long-term support crossing at 0.065720 is the next downside target. Closes above the 50-day moving average crossing at 0.073792 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at 0.73792. Second resistance is the August 25^th high crossing at 0.077500. First support is Tuesday's low crossing at 0.069485. Second support is long-term support crossing at 0.065720.  

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

December gold closed lower on Wednesday as it extended the trading range of the past two-weeks. 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 December renews the decline off August's high, monthly support crossing at $1610.30 is the next downside target. Closes above the 50-day moving average crossing at $1755.60 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at $1755.60. Second resistance August's high crossing at $1824.60. First support is the September 1^st low crossing at $1699.10. Second support is July's low crossing at $1696.10.

December silver closed slightly lower on Wednesday as it consolidated some of the rally off the September 1^st low. 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 neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off September's low, the August high crossing at 21.020 is the next upside target. Closes below the 10-day moving average crossing at 18.560 would signal that a short-term top has been posted. First resistance is Monday's high crossing at 20.005. Second resistance is August's high crossing at 21.020. First support is the 10-day moving average crossing at 18.560. Second support is the September 1^st low crossing at 17.320. 

December 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 turning neutral to bearish signaling that sideways to lower prices are possible near-term. If December renews the decline off August's high, July's low crossing at 3.1315 is the next downside target. If December extends the rally off last-Tuesday's low, the 38% retracement level of the March-July decline crossing at 3.8395 is the next upside target. First resistance is the 38% retracement level of the March-July decline crossing at 3.8395. Second resistance is the 50% retracement level of the March-July decline crossing at 4.0590. First support is last-Tuesday's low crossing at 3.3610. Second support is July's low crossing at 3.1315.

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

December Corn closed down $0.10 1/2-cents at $6.82 1/4. 

December corn closed lower on Wednesday as it consolidated some of Monday's rally. 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 December extends the rally off July's low, the 75% retracement level of the May-July decline crossing at $7.15 is the next upside target. Closes below the 20-day moving average crossing at $6.61 1/2 would confirm that a short-term top has been posted. First resistance is Monday's high crossing at $6.99 1/2. Second resistance is the 75% retracement level of the May-July decline crossing at $7.15. First support the 20-day moving average crossing at $6.61 1/2. Second support is the 50-day moving average crossing at $6.27 1/2. 

December wheat closed up $0.11 3/4-cents at $8.72 1/4.  

December wheat closed higher on Wednesday as it consolidates below the 25% retracement level of the May-August decline crossing at $8.77 1/2. 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 December extends the rally off August's low, the 38% retracement level of the May-August decline crossing at $9.49 1/4. Closes below the September 1^st low crossing at $7.91 1/4 would confirm that a short-term top has been posted. First resistance is Monday's high crossing at $8.78. Second resistance is the 38% retracement level of the May-August decline crossing at $9.49 1/4. First support is the September 1^st low crossing at $7.91 1/4. Second support is August's low crossing at $7.43 1/4. 

December Kansas City Wheat closed up $0.13 1/4-cents at $9.47.

December Kansas City wheat closed higher on Wednesday and above the July 29^th high crossing at $9.21 1/2 confirming that a short-term low has been posted. 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 December extends the rally off August's low, the July 11^th high crossing at $10.10 is the next upside target. Closes below September's low crossing at $8.65 would signal that a short-term top has been posted. First resistance is today's high crossing at $9.51 3/4. Second resistance is the July 11^th high crossing at $10.10. First support is September's low crossing at $8.65. Second support is August's low crossing at $8.08 1/2.

December Minneapolis wheat closed up $0.06 3/4-cents at $9.38.

December Minneapolis wheat closed higher on Friday as it extends the July-September 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 are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the July 20^th high crossing at $9.67 would mark an upside breakout of the July-September trading range and would open the door for additional gains near-term. If December resumes the decline off May's high, the 75% retracement level of the January-May rally crossing at $8.29 1/2 is the next downside target. First resistance is the July 20^th high crossing at $9.67. Second resistance is the July 11^th high crossing at $10.56 1/4. First support is August's low crossing at $8.61 3/4. Second support is the 75% retracement level of the January-May rally crossing at $8.29 1/2.

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

November soybeans closed down $0.23 3/4-cents at $14.55.

November soybeans closed lower on Wednesday as it consolidated some of the rally off last-Thursday'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 neutral to bullish signaling that sideways to higher prices are possible near-term. If November extends the rally off last-Thursday's low, the 75% retracement level of the June-July decline crossing at $15.12 is the next upside target. Closes below the 10-day moving average crossing at $14.24 1/4 would signal that a short-term top has been posted. First resistance is the 75% retracement level of the June-July decline crossing at $15.12. Second resistance is the 87% retracement level of the June-July decline crossing at $15.47 3/4. First support is the 10-day moving average crossing at $14.24 1/4. Second support is last-Thursday's low crossing at $13.73.  

December soybean meal closed down $0.70 at $423.70. 

December 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 remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off July's low, long-term resistance on the monthly continuation chart crossing at $457.00 is the next upside target. Closes below the 10-day moving average crossing at $416.60 would signal that a short-term top has been posted. First resistance is Monday's high crossing at $440.70. Second resistance is long-term resistance on the monthly continuation chart crossing at $457.00. First support is the 10-day moving average crossing at $416.60. Second support the 50-day moving average crossing at $408.10.    

December soybean oil closed down 186-pts. at 64.87. 

December soybean oil 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 bullish signaling that sideways to higher prices are possible near-term. If December resumes the rally off July's low, the 62% retracement level of the June-July decline crossing at 69.82 is the next upside target. Closes below the 50-day moving average crossing at 62.92 would temper the near-term friendly outlook. First resistance is the August 12^th high crossing at 68.16. Second resistance is the 62% retracement level of the June-July decline crossing at 69.82. First support is September's low crossing at 61.24. Second support is the July 22^nd low crossing at 55.53. 

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

October hogs closed down $1.13 at $94.63. 

October hogs closed lower on Wednesday as it consolidated some of Tuesday's rally. The low-range close sets the stage for a steady to lower opening when Thursday's session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If October extends the rally off last-Thursday's low, the August 23^rd high crossing at $96.98 is the next upside target. Closes below the 10-day moving average crossing at $92.32 would signal that a short-term top has been posted. First resistance is the August 23^rd high crossing at $96.98. Second resistance is August's high crossing at $101.65. First support is the 10-day moving average crossing at $92.32. Second support is last-Thursday's low crossing at $89.12.  

October cattle closed down $0.40 at $144.40. 

October cattle closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at $143.08 would confirm that a double top with August's high has been posted. If October extends the rally off the August 31^st low crossing at $142.28, April's high crossing at $147.50 is the next upside target. First resistance is August's high crossing at $146.25. Second resistance is April's high crossing at $147.50. First support is the 50-day moving average crossing at $143.08. Second support is the July 29^th low crossing at $141.43. 

October Feeder cattle closed up $0.98 at $181.50. 

October Feeder cattle posted an inside day with a higher close on Wednesday as it consolidated some of this week's decline. 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. If October extends the decline off August's high, the July low crossing at $176.25 is the next downside target. Closes above last-Friday's high crossing at $186.70 would signal that a short-term low has been posted. First resistance is last-Tuesday's high crossing at $187.00. Second resistance is August's high crossing at $190.20. First support is July's low crossing at $176.25. Second support is the June 13^th low crossing at $173.60.     

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

December coffee closed lower for the third day in a row on Wednesday and closed below the 50-day moving average crossing at 21.74 opening the door for a larger-degree decline near-term. The low-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are becoming oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. Closes above the 20-day moving average crossing at $22.69 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at $22.69. Second resistance is August's high crossing at $24.30. First support is the August 19^th low crossing at $20.95. Second support is August's low crossing at 20.28.                  

December cocoa closed lower on Wednesday as it extends the July-September trading range. The low-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are turning neutral to bearish signaling sideways to lower prices are possible near-term. If December extends this week's decline, the July 14^th low crossing at 22.80 is the next downside target. Closes above the 50-day moving average crossing at 23.79 would signal that a short-term low has been posted.  

October sugar posted an inside day with a lower close on Wednesday as it extends the August-September trading range. The low-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the August 15^th high crossing at 18.70 would mark an upside breakout of the August-September trading range. Closes below the August 19^th low crossing at 17.61 would open the door for a possible test of August's low crossing at 17.20.    

December cotton closed slightly higher on Wednesday. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at 101.25 would open the door for a larger-degree decline near-term. Closes above the 20-day moving average crossing at 109.66 would signal that a low has been posted.