Summary
The Dow Future has gained 1482 points to 29686. The US Dollar Index advanced 0.055 points to 92.284. Gold is declining 51.695 dollars to 1911.705. Silver has eased 1.1274 dollars to 24.7430. The Dow Industrials softened 66.78 points, at 28323.40, while the S&P 500 dropped 1.01 points, last seen at 3509.44. The Nasdaq Composite rose 4.30 points to 11895.23. Streaming charts of these markets are available at MarketClub
Key Events for Monday
10:00 AM ET. October Employment Trends Index ETI (previous 54.80) ETI, Y/Y%
CURRENCIES:http://quotes.ino.com/ex changes/?c=currencies" The December Dollar was lower overnight as it extends last-week's decline. The low-range overnight trade sets the stage for a lower 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 December extends last-week's decline, September's low crossing at $91.75 is the next downside target. Closes above the 50-day moving average crossing at $93.37 would confirm that a short-term low has been posted. First resistance is last-Wednesday's high crossing at $94.33. Second resistance is the 25% retracement level of the March-September-decline crossing at $94.72. First support is the overnight low crossing at $92.12. Second support is September's low crossing at $91.75. The December Euro was higher overnight as it extends the rally off last-Wednesday'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 December extends the aforementioned rally, the September 10th high crossing at 119.42 is the next upside target. Closes below the 10-day moving average crossing at $117.65 is the next downside target. First resistance is the September 10th high crossing at $119.42. Second resistance is September's high crossing at $120.38. First support is last-Wednesday's low crossing at $116.13. Second support is September's low crossing at $116.31. The December British Pound was steady to slightly 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 beings trading. Stochastics and the RSI are becoming overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off September's low, the August 19th high crossing at 1.3270 is the next upside target. Closes below the 50-day moving average crossing at 1.2988 is the next downside target. First resistance is October's high crossing at 1.3182. Second resistance is the August 19th high crossing at 1.3270. First support is last-Monday's low crossing at 1.2855. Second support is the 38% retracement level of the March-August-rally crossing at 1.2736. The December Swiss Franc was lower overnight as it consolidates some of the rally off last-Monday's low. 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 are possible near-term. Closes above August's high crossing at 1.1138 would mark a potential upside breakout of the upper boundary of the August-November-trading range. Closes below the 50-day moving average crossing at 1.0975 would confirm that a short-term top has been posted. First resistance is August's high crossing at 1.1138. Second resistance is the September 2018 high crossing at 1.1319. First support is last-Monday's low crossing at 1.0874. Second support is the 38% retracement level of the March-August-rally crossing at 1.0789. The December Canadian Dollar was higher overnight ans spiked above September's high crossing at $76.97 as it extends the rally off October's low. The high-range 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 December extends the rally off October's low, January's high crossing at $77.28 is the next upside target. Closes below the 50-day moving average crossing at $75.77 would signal that a short-term top has been posted. First resistance is the overnight high crossing at $77.14. Second resistance is January's high crossing at $77.28. First support is October's low crossing at $74.70. Second support is September's low crossing at $74.53. The December Japanese Yen was sharply lower overnight due to profit taking after testing the 75% retracement level of the February-March rally crossing at 0.0969. The low-range overnight trade sets the stage for a lower opening when the day session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the rally off October's low, the 87% retracement level of the February-March rally crossing at 0.0979 is the next upside target. Closes below the 50-day moving average crossing at 0.0951 are needed to confirm that a short-term top has been posted. First resistance is the 75% retracement level of the February-March rally crossing at 0.0969. Second resistance is the 87% retracement level of the February-March rally crossing at 0.0979. First support is last-Wednesday's low crossing at 0.0950. Second support is October's low crossing at 0.0943.
December crude oil was higher overnight as it and is poised to renew the rally off last-Monday'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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at $39.14 would confirm that a short-term low has been posted. If December renews the decline off October's high, the 62% retracement level of the April-August-rally crossing at $32.61 is the next downside target. First resistance is the 20-day moving average crossing at $39.14. Second resistance is the 50-day moving average crossing at $39.74. First support is last-Monday's low crossing at $33.64. Second support is the the 62% retracement level of the April-August-rally crossing at $32.61. December heating oil was higher overnight as it renewed the rally off last-Monday'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 remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off Monday's low, October's high crossing at $121.44 is the next upside target. Closes below the 10-day moving average crossing at $113.57 would signal that a short-term top has been posted. First resistance is the overnight high crossing at $119.60. Second resistance is October's high crossing at 121.44. First support is last-Monday's low crossing at 102.52. Second support is the May 13th low crossing at $99.24. December unleaded gas was higher overnight as it renewed the rally off last-Monday'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 neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the aforementioned rally, October's high crossing at $121.44 is the next upside target. Closes below the 10-day moving average crossing at $108.26 would signal that a short-term top has been posted. First resistance is the overnight high crossing at $114.95. Second resistance is October's high crossing at $121.44. First support is last-Monday's low crossing at $97.02. Second support is the 50% retracement level of the April-August-rally crossing at $92.55. December Henry natural gas was lower overnight as it extends the decline off October's high. 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the aforementioned decline, the 87% retracement level of the June-October-rally crossing at 2.734 is the next downside target. Closes above the 20-day moving average crossing at 3.192 are needed to confirm that a short-term low has been posted. First resistance resistance is the 20-day moving average crossing at 3.192. Second resistance is October's high crossing at 3.396. First support is the 75% retracement level of the June-October-rally crossing at 2.825. Second support is the 87% retracement level of the June-October-rally crossing at 2.734.
SOFTS: March sugar closed down 18 points at 14.47 cents today. Prices closed near the session low today on more profit taking after hitting an 1.5-year high on Tuesday. The sugar bulls have the firm overall near-term technical advantage. However, the higher volatility at higher price levels is a warning signal of a topping process in this market. Prices are still in a seven-week-old uptrend on the daily bar chart. December coffee closed up 300 points at 106.00 cents today. Prices closed nearer the session high on short covering after hitting a 3.5-month low Wednesday. The coffee bears have the solid overall near-term technical advantage as prices are in a two-month-old downtrend on the daily bar chart. December cocoa closed up $30 at $2,306 a ton today. Prices closed nearer the session high today on short covering. The cocoa bears have the firm overall near-term technical advantage. December cotton closed up 3 points at 70.26 cents today. Prices closed nearer the session low today. The cotton bulls have the firm overall near-term technical advantage and are keeping alive a seven-month-old price uptrend in place on the daily bar chart. January orange juice closed down 110 points at $1.1460 today. Prices closed near mid-range today. FCOJ bears have the overall near-term technical advantage. The next upside price objective for the FCOJ bulls is pushing and closing prices above technical resistance at the October high of $1.1875.
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December corn was higher overnight and is poised to resume the rally off last-Monday's low. The high-range trade sets the stage for a steady to higher opening when the day sessions begins trading. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally November's low, October's high crossing at $4.22 1/4 is the next upside target. If December renews the decline off October's high, the 50-day moving average crossing at $3.84 3/4 is the next downside target. First resistance is October's high crossing at $4.22 1/4. Second resistance is the July-2019 high crossing at $4.23 1/2. First support is the 50-day moving average crossing at $3.84 3/4. Second support is the September 28th low crossing at $3.60 1/2. December wheat was higher overnight. The high-range trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If December renews the rally off November's low, October's high crossing at $6.38 1/4 is the next upside target. If December resumes the decline off October's high, the 50-day moving average crossing at $5.82 3/4 is the next downside target. First resistance is October's high crossing at $6.38 1/4. Second resistance is the 50% retracement level of the 2012-2016-decline crossing at $6.66 1/4. First support is the October 12th low crossing at $5.87. Second support is the 50-day moving average crossing at $5.82 3/4. December Kansas City wheat was higher overnight. The high-range close 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 December extends the rally off the October 28th low, the 87% retracement level of the 2018-2020-decline crossing at $6.05 1/2 is the next upside target. Closes below the 10-day moving average crossing at $5.52 3/4 would temper the near-term bullish outlook. First resistance is the 75% retracement level of the 2018-2020-decline crossing at $5.79 3/4. Second resistance is the 87% retracement level of the 2018-2020-decline crossing at $6.05 1/2. First support is the October 14th low crossing at $5.23 1/2. Second support is the 50-day moving average crossing at $5.17 3/4. December Minneapolis wheat was higher overnight. 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends this month's rally, October's high crossing at $5.87 3/4 is the next upside target. If December renews the decline off October's high, the 50-day moving average crossing at $5.46 3/4 is the next downside target. First resistance is last-Thursday's high crossing at $5.71 3/4. Second resistance is the 75% retracement level of the 2019-2020-decline crossing at $5.87 3/4. First support is last-Monday's low crossing at $5.46 1/4. Second support is the 50-day moving average crossing at $5.46 3/4. SOYBEAN COMPLEX? http://quotes.ino.com/ex?changes/?c=grains " January soybeans were higher overnight as it extends this year's rally. The high-range trade 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. If January extends this week's rally, monthly resistance marked by the 38% retracement level of the 2012-2019-decline crossing at $11.71 3/4 is the next upside target. Closes below last-Monday's low crossing at $10.45 would confirm that a short-term top has been posted. First resistance is the overnight high crossing at $11.18. Second resistance is monthly resistance marked by the 38% retracement level of the 2012-2019-decline crossing at $11.71 3/4. First support is last-Monday's low crossing at $10.45. Second support is the 50-day moving average crossing at $10.33 3/4. December soybean meal was higher overnight. The high-range trade 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. If December renews the rally off August's low, monthly resistance crossing at $404.90 is the next upside target. Closes below the 20-day moving average crossing at $377.80 would signal that a short-term top has been posted. First resistance is last-Thursday's high crossing at $393.40. Second resistance is monthly resistance crossing at $404.90. First support is the 20-day moving average crossing at $377.80. Second support is the October 12th low crossing at $352.30. December soybean oil was higher overnight as it renewed this year's rally. The high-range 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 December extends the rally off October's low, the December-2019 high crossing at 36.41 is the next upside target. Closes below the October 29th low crossing at 32.86 would confirm that a short-term top has been posted. First resistance is the overnight high crossing at 36.15. Second resistance is the December-2019 high crossing at 36.41. First support is the 50-day moving average crossing at 33.56. Second support is the October 19th low crossing at 32.28.
The December NASDAQ 100 was sharply higher overnight after Biden declares victory. The mid-range trade 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. If the NASDAQ 100 is poised to test September's high crossing at 12,444.75, which marks the upper boundary of the September-November trading range. If this resistance level is cleared, monthly resistance crossing at 12,465.25 is the next upside target. Closes below the 50-day moving average crossing at 11,507.22 would signal that a short-term top has been posted. First resistance September's high crossing at 12,444.75. Second resistance is monthly resistance crossing at 12,465.25. First support is the 50-day moving average crossing at 11,507.22. Second is last-Monday's low crossing at 10,942.25. The December S&P 500 was higher overnight as it extends last-week's rally. The high-range overnight trade 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 December extends the aforementioned rally, October's high crossing at 3532.80 is the next upside target. Closes below the 10-day moving average crossing at 3370.91 would confirm that a short-term top has been posted. First resistance is October's high crossing at 3532.80. Second resistance is September's high crossing at 3568.80. First support is the 10-day moving average crossing at 3370.91. Second support is the October 30th low crossing at 3252.20.
December T-bonds were lower overnight. The low-range overnight trade sets the stage for a steady to higher opening when the day 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 173-12 would temper the near-term friendly outlook. Closes above the 50-day moving average crossing at 175-01 would confirm that a short-term low has been posted. First resistance is the October 15th high crossing at 176-10. Second resistance is the September 29th high crossing at 177-12. First support is the 10-day moving average crossing at 173-12. Second support is the 75% retracement level of the March-August-rally crossing at 169-17. December T-notes were lower overnight as it consolidates some of the rally off Wednesday's low. The low-range overnight trade sets the stage for a steady to lower opening with the day 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 138.173 would temper the near-term friendly outlook. Closes above the 50-day moving average crossing at 139.025 are needed to confirm that a short-term low has been posted. First resistance is the October 15th high crossing at 138.140. Second resistance is the September 29th high crossing at 139.260. First support is the 10-day moving average crossing at 138.173. Second support is the 87% retracement level of the June-August-rally crossing at 137.160.
LIVESTOCK: December live cattle closed up $0.45 at $108.32 today. Prices closed near mid-range today and hit a three-week high. Bulls have the overall near-term technical advantage. Live cattle bulls' next upside price objective is to close January feeder cattle closed up $0.50 at $135.65 today and hit a four-week high. Prices closed nearer the session high today. Bulls have the slight overall near-term technical advantage. December lean hogs closed up $1.25 at $68.25 today. Prices closed near the session high today. Bulls have the overall near-term technical advantage and are working to restart a price uptrend on the daily bar chart.
December gold was sharply lower overnight as it consolidates some of last-week's rally. 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 overbought, diverging and are turning neutral to bearish signaling that a short-term top has been posted. Closes below the 10-day moving average crossing at $1905.90 would signal that a short-term top has been posted. If December extends last-week's rally, the September 16th high crossing at $1983.80 is the next downside target. First resistance is the overnight high crossing at $1966.10. Second resistance is the September 16th high crossing at $1983.80. First support is October's low crossing at $1859.20. Second support is September's low crossing at $1851.00. December silver was lower overnight as it consolidates some of the rally off October's low. The low-range overnight 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 December extends last-week's rally, the September 15th low crossing at $27.865 is the next upside target. Closes below October's low crossing at $22.625 would open the door for a possible test of September's low crossing at $21.810. First resistance is the overnight high crossing at $26.135. Second resistance is the September 15th high crossing at $27.865. First support is October's low crossing at $22.625. Second support is September's low crossing at $21.810. December copper was higher overnight. 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 neutral to bullish signaling that a low might be in or is near. If December renews the rally off October's low, the 87% retracement level of the 2018-2020 decline crossing at 3.2302 is the next upside target. Closes below the 50-day moving average crossing at 3.0539 would confirm that a short-term top has been posted. First resistance is October's high crossing at 3.2180. Second resistance is the 87% retracement level of the 2018-2020 decline crossing at 3.2302. First support is the 50-day moving average crossing at 3.0539. Second support is October's low crossing at 2.8345.
| | | Top Stocks | | # | symbol | name | last | net | % | volume | score | triangles | | | 1. | ACB | Aurora Cannabis, Inc | 9.76 | +3.49 | +71.08% | 455,729,570 | +90 |    | Entry Signal | | 2. | TLRY | Tilray, Inc | 9.61 | +1.79 | +27.04% | 115,073,478 | +90 | | Entry Signal | | 3. | XPEV | XPeng Inc. | 34.99 | -0.86 | -3.87% | 100,832,937 | +100 | | Entry Signal | | 4. | GE | General Electric Co | 8.095 | +0.105 | +1.34% | 79,284,163 | +100 | | Entry Signal | | 5. | UBER | Uber Technologies, Inc. | 44.87 | +2.91 | +8.14% | 56,894,306 | +90 | | Entry Signal | | 6. | CRON | Cronos Group, Inc | 7.500 | +1.035 | +17.14% | 45,028,187 | +90 | | Entry Signal | | 7. | AVTR | Avantor, Inc. | 26.91 | +1.53 | +6.45% | 33,073,815 | +100 | | Entry Signal | | 8. | PLUG | Plug Power, Inc | 18.845 | +0.010 | +0.06% | 30,612,347 | +100 | | Entry Signal | | 9. | SQ | Square, Inc | 197.915 | +22.685 | +14.34% | 26,355,815 | +90 | | Entry Signal | | 10. | VALE | Vale | 11.785 | +0.455 | +4.14% | 24,820,417 | +100 | | Entry Signal | |
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