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Message: RECAP .....for TODAY .................
Today’s Summary
The Dow Future has climbed 39 points to 23601. The US Dollar Index moved higher by 0.153 points to 93.053. Gold is down 0.46 dollars to 1293.44. Silver has slid 0.0295 dollars to 17.0155. The Dow Industrials climbed 22.79 points, at 23580.78, while the S&P 500 trended lower by 1.00 points, last seen at 2601.42. The Nasdaq Composite moved down 10.32 points to 6878.84. Streaming charts of these markets are available 24/7 at MarketClub
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CURRENCIES
The March Dollar closed higher due to short covering on Monday as it consolidated some of this month's decline. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the aforementioned decline, the 75% retracement level of the September-November-rally crossing at 91.69 is the next downside target. Closes above the 20-day moving average crossing at 93.70 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 93.70. Second
resistance is November's high crossing at 95.07. First support is the 62% retracement level of the September-November-rally crossing at 92.23. Second support is the 75% retracement level of the September-November-rally crossing at 91.69.
The March Euro closed lower due to profit taking on Monday as it consolidated some of the rally off November's low. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends this month's rally, the reaction high crossing at 121.49 is the next upside target. Closes below the 20-day moving average crossing at 118.02 would confirm that a short-term top has been posted. First resistance is the reaction high crossing at 121.49. Second resistance is September high crossing at 122.11. First support is the 10-day moving average crossing at 118.81. Second support is the 20-day moving average crossing at 118.02.
The March British Pound closed slightly lower on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher possible near-term. If March extends this month's rally, the reaction high crossing at 1.3525 is the next upside target. Closes below the 20-day moving average crossing at 1.3252 would confirm that a short-term top has been posted. First resistance is the reaction high crossing at 1.3525. Second resistance is September's high crossing at 1.3695. First support is the 20-day moving average crossing at 1.3252. Second support is November's low crossing at 1.3098.
The March Swiss Franc closed lower on Monday as it consolidates some of this month's rally. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off November's low, the reaction high crossing at 1.0396 is the next upside target. Closes below the 20-day moving average crossing at 1.0161 would confirm that a short-term top has been posted. First resistance is the reaction high crossing at 1.0396. Second resistance is October's high crossing at 1.0415. First support is the 20-day moving average crossing at 1.0161. Second support is November's low crossing at 0.9991.
The March Canadian Dollar closed lower on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the reaction low crossing at 78.13 would confirm that a short-term top has been posted. If March resumes the rally off October's low, the 50-day moving average crossing at 79.41 is the next upside target. First resistance is the 50-day moving average crossing at 79.41. Second resistance is October's high crossing at 80.42. First support is October's low crossing at 77.55. Second support is the July's low crossing at 77.16.
The March Japanese Yen closed higher on Monday as it extended the rally off November's low. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends this month's rally, the 62% retracement level of the September-November-decline crossing at 0.9141 is the next downside target. Closes below the 20-day moving average crossing at 0.8904 would confirm that a short-term top has been posted. First resistance is the 50% retracement level of the September-November-decline crossing at 0.9072. Second resistance is the 62% retracement level of the September-November-decline crossing at 0.9141. First support is the 10-day moving average crossing at 0.8955. Second support is the 20-day moving average crossing at 0.8904.
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ENERGIES
January crude oil closed lower due to profit taking on Monday. The mid-range close sets the stage for a steady to lower opening when Tuesday'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 January extends the rally off June's low, weekly resistance crossing at 60.00 is the next upside target. Closes below the 20-day moving average crossing at 56.46 would confirm that a short-term top has been posted. First resistance is last Friday's high crossing at 59.05. Second resistance is weekly resistance crossing at 60.00. First support is the 20-day moving average crossing at 56.46. Second support is the reaction low crossing at 55.00.
January heating oil closed slightly lower on Monday. The mid-range close sets the stage for a steady to lower opening when Tuesday'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 January extends the rally off October's low, the 50% retracement level of the 2014-2016-decline crossing at 198.69 is the next upside target. Closes below the 20-day moving average crossing at 191.89 would confirm that a short-term top has been posted. First resistance is today's high crossing at 196.52. Second resistance is the 50% retracement level of the 2014-2016-decline crossing at 198.69. First support is the 20-day moving average crossing at 191.89. Second support is the reaction low crossing at 188.70.
January unleaded gas closed slightly higher on Monday. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If January extends last week's rally, November's high crossing at 181.51 is the next upside target. If January renews the decline off November's high, the 50-day moving average crossing at 165.99 is the next downside target. First resistance is November's high crossing at 181.51. Second resistance is the May-2015 high crossing at 185.71. First support is the reaction low crossing at 171.20. Second support is the 50-day moving average crossing at 165.99.
January Henry natural gas closed higher due to short covering on Monday. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If January extends this month's decline, the January-2016-low crossing at 2.720 is the next downside target. Closes above the 20-day moving average crossing at 3.145 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 3.145. Second resistance is the 50-day moving average crossing at 3.208. First support is last Friday's low crossing at 2.903. Second support is the January-2016-low crossing at 2.720.
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FOOD & FIBER
March coffee closed higher on Monday. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 13.07 would confirm that a short-term low has been posted. If March extends the decline off September's high, June's low crossing at 12.26 is the next downside target.
March cocoa closed lower on Monday and below the 50-day moving average crossing at 20.84 opening the door for additional weakness near-term. The low-range close sets the stage for a steady to lower opening on Tuesday. 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, November's low crossing at 20.32 is the next downside target. Closes above the 20-day moving average crossing at 21.27 would confirm that a short-term low has been posted.
March sugar closed lower on Monday. The mid-range close set the stage for a steady to lower opening on Tuesday. 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, August's high crossing at 15.82 is the next upside target. Closes below the 20-day moving average crossing at 14.93 would confirm that a short-term top has been posted.
March cotton posted a downside reversal with a lower close on Monday as it consolidated some of this month's rally. The low-range close sets the stage for a steady to lower opening on Tuesday. 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, September's high crossing at 74.00 is the next upside target. Closes below the 20-day moving average crossing at 69.37 would confirm a short-term top has been posted.
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GRAINShttp://quotes.ino.com/exchanges/?c=grains
March Corn closed down 3-cents at 3.52.
March corn closed lower on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If March renews this month's decline, weekly support crossing at 3.32 is the next downside target. Closes above the 50-day moving average crossing at 3.61 are needed to confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 3.61. Second resistance is the reaction high crossing at 3.69 1/4. First support is November's low crossing at 3.48 3/4. Second support is weekly support crossing at 3.32.
March wheat closed down 6 1/4-cent at 4.28 1/2.
March wheat closed lower on Monday as it extends this year's decline. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off September's high, weekly support crossing at 4.25 is the next downside target. Closes above the 50-day moving average crossing at 4.52 1/2 are needed to confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 4.52 1/2. Second resistance is the reaction high crossing at 4.60 3/4. First support is today's low crossing at 4.27 1/2. Second support is weekly support crossing at 4.25.
March Kansas City Wheat closed down 6 3/4-cents at 4.25 1/4.
March Kansas City wheat closed lower on Monday as it extends this year's decline. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off September's high, weekly support crossing at 4.11 1/4 is the next downside target. Closes above the 50-day moving average crossing at 4.49 1/4 are needed to confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 4.49 1/4. Second resistance is reaction high crossing at 4.56 1/2. First support is today's low crossing at 4.25. Second support is weekly support crossing at 4.11 1/4.
March Minneapolis wheat closed down 11 1/2-cents at 6.27.
March Minneapolis wheat closed lower on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below October's low crossing at 6.20 would confirm a downside breakout of this fall's trading range. Closes above trading range resistance crossing at 6.66 would confirm an upside breakout of this fall's trading range. First resistance is November's high resistance crossing at 6.66. Second resistance is the reaction high crossing at 6.81. First support is October's low crossing at 6.20. Second support is the 87% retracement level of the April-July-rally crossing at 5.89 1/2.
SOYBEAN COMPLEX?http://quotes.ino.com/ex?changes/?c=grains"
January soybeans closed up 3 1/4-cents at 9.96 1/2.
January soybeans closed higher on Monday as it extended the rally off November's low. The mid-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If January extends the rally off November's low, November's high crossing at 10.08 1/4 is the next upside target. Closes below the 10-day moving average crossing at 9.85 would confirm that a short-term top has been posted. First resistance is October's high crossing at 10.13. Second resistance is the reaction high crossing at 10.28 1/4. First support is October's low crossing at 9.63 1/4. Second support is September's low crossing at 9.47 1/2.
January soybean meal closed up $3.60 at 329.50.
January soybean meal closed higher on Monday. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If January extends this month's rally, the 75% retracement level of the July-August-decline crossing at 336.50 is the next upside target. Closes below the 20-day moving average crossing at 318.10 would confirm that a short-term top has been posted. First resistance is today's high crossing at 331.90. Second resistance is the 75% retracement level of the July-August-decline crossing at 336.50. First support is the 20-day moving average crossing at 318.10. Second support is November's low crossing at 311.60.
January soybean oil closed down 28-points at 33.80.
January soybean oil closed lower on Monday as it extends the decline off November's high. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If January extends the decline off November's high, the reaction low crossing at 33.43 is the next downside target. Closes above the reaction high crossing at 34.99 would confirm that a short-term low has been posted. First resistance is the reaction high crossing at 34.99. Second resistance is November's high crossing at 35.61. First support is the reaction low crossing at 33.43. Second support is the reaction low crossing at 33.04.
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U.S. STOCK INDEXES
The December NASDAQ 100 closed slightly lower on Monday as weakness in energy stocks offset the rally by retail stocks. The mid-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends this year's rally into record territory, upside targets will be hard to project. Closes below the 20-day moving average crossing at 6313.76 would confirm that a short-term top has been posted. First resistance is today's high crossing at 6424.50. Second resistance is unknown. First support is the 20-day moving average crossing at 6313.76. Second support is the reaction low crossing at 6230.75.
The December S&P 500 closed slightly higher on Monday as it extended this month's rally. The mid-range close sets the stage for a steady opening when Tuesday'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 this year's rally into uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average crossing at 2583.02 would confirm that a short-term top has been posted. First resistance is today's high crossing at 2604.00. Second resistance is unknown. First support is the 20-day moving average crossing at 2583.02. Second support is the reaction low crossing at 2556.70.
The Dow closed higher on Monday as it extended this year's rally into record territory. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are becoming overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If the Dow extends this year's rally into uncharted territory, upside targets will be hard to project. Closes below the November 21st gap crossing at 23,456.88 would confirm that a short-term top has been posted. First resistance is today's high crossing at 23,638.92. Second resistance is unknown. First support is the November 21st gap crossing at 23,456.88. Second support is the November 16th gap crossing at 23,344.99.
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INTEREST RATES
December T-bonds closed down 1/32's at 154-07.
December T-bonds closed slightly lower on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extended the rally off November's low, the reaction high crossing at 155-04 is the next upside target. Closes below the 50-day moving average crossing at 153-06 would confirm that a short-term top has been posted. First resistance is November's high crossing at 154-26. Second resistance is the reaction high crossing at 155-04. First support is the reaction low crossing at 151-31. Second support is October's low crossing at 150-10.
December T-notes closed up 25/32's at 125-015.
December T-notes closed higher on Monday. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 125.058 would confirm that a low has been posted. If December resumes the decline off November's high, October's low crossing at 124.060 is the next downside target. First resistance is the 50-day moving average crossing at 125.058. Second resistance is October's high crossing at 125.255. First support is November's low crossing at 124.270. Second support is October's low crossing at 124.060.
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LIVESTOCK
December hogs closed up $1.28 at $64.53.
December hogs closed higher on Monday. The high-range close sets the stage for a steady to higher opening when Tuesday's session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off November's low, October's high crossing at 68.18 is the next upside target. Closes below the 10-day moving average crossing at 61.75 would confirm that a short-term top has been posted. First resistance is today's high crossing at 64.65. Second resistance is October's high crossing at 68.18. First support is the 10-day moving average crossing at 61.75. Second support is November's low crossing at 59.25.
February cattle closed up $1.48 at 126.05.
February cattle closed higher on Monday. The high-range close sets the stage for a steady to higher opening when Tuesday's session begins trading. Stochastics and the RSI are neutral to bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing at 127.13 would confirm that a short-term low has been posted. If February extends the decline off November's high, the reaction low crossing at 119.05 is the next downside target. First resistance is November's high crossing at 131.95. Second resistance is weekly resistance crossing at 134.55. First support is the reaction low crossing at 119.05. Second support is October's low crossing at 116.83.
January Feeder cattle closed up $1.15 at $154.45.
January Feeder cattle closed higher on Monday as it consolidated some of this month's decline. The high-range close sets the stage for a steady to higher opening when Tuesday's session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 156.15 would confirm that a short-term low has been posted. If January renews this month's decline, October's low crossing at 148.18 is the next downside target. First resistance is November's high crossing at 162.08. Second resistance is weekly resistance crossing at 166.73. First support is last Monday's low crossing at 149.30. Second support is October's low crossing at 148.18.
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PRECIOUS METALS
March coffee closed higher on Monday. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 13.07 would confirm that a short-term low has been posted. If March extends the decline off September's high, June's low crossing at 12.26 is the next downside target.
March cocoa closed lower on Monday and below the 50-day moving average crossing at 20.84 opening the door for additional weakness near-term. The low-range close sets the stage for a steady to lower opening on Tuesday. 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, November's low crossing at 20.32 is the next downside target. Closes above the 20-day moving average crossing at 21.27 would confirm that a short-term low has been posted.
March sugar closed lower on Monday. The mid-range close set the stage for a steady to lower opening on Tuesday. 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, August's high crossing at 15.82 is the next upside target. Closes below the 20-day moving average crossing at 14.93 would confirm that a short-term top has been posted.
March cotton posted a downside reversal with a lower close on Monday as it consolidated some of this month's rally. The low-range close sets the stage for a steady to lower opening on Tuesday. 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, September's high crossing at 74.00 is the next upside target. Closes below the 20-day moving average crossing at 69.37 would confirm a short-term top has been posted.
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