Summary
The Dow Future is trending lower 8 points to 30073. The US Dollar Index eased 0.136 points to 90.277. Gold has slipped 1.015 dollars to 1874.555. Silver is trending lower 0.0715 dollars to 25.7080. The Dow Industrials rose 114.32 points, at 30129.83, while the S&P 500 trended higher 2.75 points, last seen at 3690.01. The Nasdaq Composite retreated 36.81 points to 12771.11. Streaming charts of these markets are available at MarketClub
Key Events for Thursday
9:45 PM ET. Bloomberg Consumer Comfort Index N/A U.S. federal offices closed on Christmas Eve as financial markets close N/A Marianas: Christmas Day N/A U.S.: Christmas Day. Financial markets 10:30 AM ET. December Texas Manufacturing Outlook Survey Business Activity (previous 12.0) Mfg Production Idx (previous 7.2) 4:30 PM ET. Foreign Central Bank Holdings 4:30 PM ET. Money Stock Measures 4:30 PM ET. Federal Discount Window Borrowings
CURRENCIES:http://quotes.ino.com/ex changes/?c=currencies" The March Dollar posted an inside day with a lower close on Wednesday. The mid-range close sets the stage for a steady 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 90.73 would signal that a short-term low has been posted. If March resumes this year's decline, monthly support crossing at 88.15 is the next downside target. First resistance is the 20-day moving average crossing at 90.73. Second resistance is the 50-day moving average crossing at 92.04. First support is last-Thursday's low crossing at 89.64. Second support is monthly support crossing at 88.15. The March Euro closed slightly higher 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 20-day moving average crossing at 121.52 would signal that a short-term top has been posted. If March extends the rally off November's low, the 62% retracement level of the 2018-2020-decline crossing at 125.39 is the next upside target. First resistance is last-Thursday's high crossing at 123.04. Second resistance is the 62% retracement level of the 2018-2020-decline crossing at 125.39. First support is the 20-day moving average crossing at 121.52. Second support is the December 9th low crossing at 120.90. The March British Pound closed higher on Wednesday ending a three-day correction off last-Thursday's high. 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 bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at 1.3235 would open the door for additional weakness and a possible test of November's low crossing at 1.2876. First resistance is last-Thursday's high crossing at 1.3643. Second resistance is the February-2019 high crossing at 1.3728. First support is the 50-day moving average crossing at 1.3235. Second support is November's low crossing at 1.2876. The March Swiss Franc closed slightly higher on Wednesday. The mid-range close sets the stage for a steady 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. Closes below the 20-day moving average crossing at 1.1252 would signal that a short-term top has been posted. If March extends this month's rally, the September-2019 high crossing at 1.1408 is the next upside target. First resistance is last-Thursday's high crossing at 1.1371. Second resistance is the September-2019 high crossing at 1.1408. First support is the 20-day moving average crossing at 1.1252. Second support is the 50-day moving average crossing at 1.1111. The March Canadian Dollar 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 neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off last-Thursday's high, the 50-day moving average crossing at 76.87 is the next downside target. Closes above the 10-day moving average crossing at 78.27 would signal that a short-term low has been posted. First resistance is last-Thursday's high crossing at 78.87. Second resistance is the October-2018 high crossing at 79.09. First support is the 50-day moving average crossing at 76.87. Second support is the November 13th low crossing at 75.96. The March Japanese Yen posted an inside day with a slightly lower close on Wednesday as it consolidates below the 75% retracement level of March's decline crossing at 0.0971. 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 20-day moving average crossing at 0.0964 would signal that a short-term top has been posted. If March extends the rally off November's low, the 87% retracement level of March's decline crossing at 0.0981 is the next upside target. First resistance is last-Thursday's high crossing at 0.0974. Second resistance is the 87% retracement level of March's decline crossing at 0.0981. First support is the 20-day moving average crossing at 0.0964. Second support is the 50-day moving average crossing at 0.0960.
February crude oil posted a key reversal up as it closed higher on Wednesday ending a two-day correction off last-Friday's high. The high-range close sets the stage for a steady to higher opening when Thursday's night session begins. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at $46.69 would signal that a short-term top has been posted. If February renews the rally off November's low, the 62% retracement level of the 2018-2020-decline crossing at $52.41 is the next upside target. First resistance is last-Friday's high crossing at $49.43. Second resistance is the 62% retracement level of the 2018-2020-decline crossing at $52.41. First support is the 20-day moving average crossing at $46.69. Second support is December's low crossing at $44.10. February heating oil posted a key reversal up as it closed higher on Wednesday signaling an end to a two-day correction off last-Friday's high. The high-range close sets the stage for a steady to higher opening when Thursday's night trading session begins. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at $143.27 would signal that a short-term top has been posted. If February renews the rally off November's low, the 38% retracement level of the 2018-2020-decline crossing at $152.86 is the next upside target. First resistance is last-Friday's high crossing at $151.88. Second resistance is the 38% retracement level of the 2018-2020-decline crossing at $152.86. First support is the 20-day moving average crossing at $143.27. Second support is December's low crossing at $134.29. February unleaded gas posted a key reversal up as it 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 turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at $130.58 would signal that a short-term top has been posted. If February renews the rally off November's low, the 62% retracement level of the 2018-2020-decline crossing at $152.11 is the next upside target. First resistance is last-Friday's high crossing at $139.69. Second resistance is the 62% retracement level of the 2018-2020-decline crossing at $152.11. First support is the 20-day moving average crossing at 130.58. Second support is the 50-day moving average crossing at $120.63. February Henry natural gas closed sharply lower on Wednesday and below the December 15th low crossing at 2.596 signaling that a short-term top has been posted. 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 February extends today's decline, December's low crossing at 2.393 is the next downside target. If February renews the rally off December's low, the 38% retracement level of the November-December decline crossing at 2.797 is the next upside target. First resistance is the 38% retracement level of the November-December-decline crossing at 2.797. Second resistance is the 50% retracement level of the November-December-decline crossing at 2.922. First support is December's low crossing at 2.393. Second support is weekly support crossing at 2.179.
March coffee closed higher on Wednesday. The low-range close sets the stage for a steady to slightly higher opening on Thursday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 12.19 are needed to confirm that a short-term top has been posted. If March extends the rally off November's low, the 87% retracement level of the September-November decline crossing at 13.17 is the next upside target. March cocoa closed lower on Wednesday. The mid-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are turning neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 26.08 would signal that a short-term low has been posted. Closes below the 50-day moving average crossing at 25.05 would open the door for a larger-degree decline. March sugar closed higher on Wednesday. The high-range close set the stage for a steady to higher opening on Thursday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the reaction high crossing at 15.07 would confirm that a short-term low has been posted. If March renews the decline off November's high, the October 30th low crossing at 13.94 is the next downside target. March cotton closed higher on Wednesday as it consolidates some of Monday's decline. The high-range close sets the stage for a steady to higher 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 20-day moving average crossing at 73.80 would confirm that a short-term top has been posted. If March resumes the rally off April's low, the July-2018 high crossing at 79.56 is the next upside target.
March Corn closed up $0.04-cents at $4.47. March corn closed higher on Wednesday and above weekly resistance marked by the June-2016 high crossing at $4.43 1/2. The high-range close sets the stage for a steady to higher opening when Thursday's night sessions begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off April's low, the June-2019 high on the weekly continuation chart crossing at $4.64 1/4 is the next upside target. Closes below the 50-day moving average crossing at $4.21 would signal that a short-term top has been posted. First resistance is today's high crossing at $4.49 3/4. Second resistance is the June-2019 high on the weekly chart crossing at $4.64 1/4. First support is the 50-day moving average crossing at $4.21. Second support is the December 2nd low crossing at $4.14 1/2. March wheat closed up $0.12 3/4-cents at $6.29 3/4. March wheat closed sharply higher on Wednesday as it renewed 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 becoming 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, October's high crossing at $6.37 3/4 is the next upside target. Closes below the 20-day moving average crossing at $5.96 1/2 would signal that a short-term top has been posted. First resistance is today's high crossing at $6.33 3/4. Second resistance is October's high crossing at $6.37 3/4. First support is the 20-day moving average crossing at $5.96 1/2. Second support is the 50% retracement level of the June-November-rally crossing at $5.71. March Kansas City Wheat closed up $0.09 1/4-cents at $5.88 1/2. March Kansas City wheat closed higher on Wednesday and above the 75% retracement level of the 2018-2020 decline crossing at $5.87 1/4. 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. If March extends this month's rally, the 87% retracement level of the 2018-2020 decline crossing at $6.12 is the next upside target. Closes below the 20-day moving average crossing at $5.59 3/4 would signal that a short-term top has been posted. First resistance is the 75% retracement level of the 2018-2020 decline crossing at crossing at $5.87 1/4. Second resistance is the 87% retracement level of the 2018-2020 decline crossing at $6.12. First support is the 20-day moving average crossing at $5.59 3/4. Second support is December's low crossing at $5.30 3/4. March Minneapolis wheat closed up $0.08 1/2-cents at $5.80. March Minneapolis wheat closed higher on Wednesday as it renewed 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. If March extends the rally off December's low, November's high crossing at $5.86 is the next upside target. Closes below the 20-day moving average crossing at crossing at $5.60 1/4 would confirm that a short-term top has been posted. First resistance is today's high crossing at crossing at $5.86 3/4. Second resistance is November's high crossing at $5.86. First support is the 20-day moving average crossing at crossing at $5.60 1/4. Second support is December's low crossing at $5.42 1/2. SOYBEAN COMPLEX? http://quotes.ino.com/ex?changes/?c=grains " March soybeans closed up $0.11-cents at $12.61. March soybeans closed higher on Wednesday as it extends the rally off last-March'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 this year's rally, the 50% retracement level of the 2012-2019-decline on the monthly chart crossing at $12.89 1/2 is the next upside target. Closes below the 20-day moving average crossing at $11.87 would signal that a short-term top has been posted while opening the door for a possible test of the 50-day moving average crossing at $11.34 1/2. First resistance is today's high crossing at $12.67 3/4. Second resistance is the 50% retracement level of the 2012-2019-decline on the monthly chart crossing at $12.89 1/2. First support is the 20-day moving average crossing at $11.87. Second support is the 50-day moving average crossing at $11.34 1/2. March soybean meal closed up $4.80 to $419.10. March soybean meal closed higher on Wednesday as it extends the rally off August'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 rally off August's low, monthly resistance crossing at $432.50 is the next upside target. Closes below the 50-day moving average crossing at $380.40 would confirm that a short-term top has been posted. First resistance is today's high crossing at $421.40. Second resistance is monthly resistance crossing at $432.50. First support is the 20-day moving average crossing at $392.00. Second support is the 50-day moving average crossing at $380.40. March soybean oil closed up 64-pts. at 40.60. March soybean oil closed higher on Wednesday as it extends this year's rally. 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 rally off October's low, monthly resistance crossing at 41.25 is the next upside target. Closes below the 20-day moving average crossing at 38.33 would confirm that a short-term top has been posted. First resistance is today's high crossing at 41.00. Second resistance is monthly resistance crossing at 41.25. First support is the 20-day moving average crossing at 38.33. Second support is the 50-day moving average crossing at 36.60.
The Dow closed higher on Wednesday while extending this month's trading range. Today's rally was underpinned by mixed economic data along with reports of progress toward Brexit deal. 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 diverging but are turning 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 Monday's low crossing at 29,755.53 would signal that a short-term top has been posted. First resistance is last-Friday's high crossing at 30,343.59. Second resistance is unknown. First support is Monday's low crossing at 29,755.53. Second support is the November 12th low crossing at 28,902.13. The March NASDAQ 100 posted an inside day with a higher close on Wednesday. The high-range close sets the stage for a steady to slightly 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 rally off September's low into uncharted territory, upside targets will be hard to project. Closes below Monday's low crossing at 12,461.00 are needed to confirm that a short-term top has been posted. First resistance is last-Friday's high crossing at 12,789.75. Second resistance is unknown. First support is Monday's low crossing at 12,461.00. Second support is the December 12th low crossing at 12,217.00. The March S&P 500 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 have turned neutral to bearish signaling that sideways to lower prices are possible near-term. Multiple closes below the reaction low crossing at 3636.00 would confirm that a short-term top has been posted. If March extends the rally off November's low into uncharted territory, upside targets will be hard to project. First resistance is last-Friday's high crossing at 3720.00. Second resistance is unknown. First support is the reaction low crossing at 3636.00. Second support is the 50-day moving average crossing at 3542.23.
March T-bonds closed down 1-03/32's at 171-30. March T-bonds 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 March resumes the decline off the November 20th high, November's low crossing at 170-22 is the next downside target. Closes above the 50-day moving average crossing at 173-28 would confirm that a low has been posted while opening the door for a possible test of November's high crossing at 177-06. First resistance is the 50-day moving average crossing at 173-28. Second resistance is November's high crossing at 177-06. First support is the December 4th low crossing at 171-04. Second support is November's low crossing at 170-22. March T-notes closed down 85-pts. at 137.230. March T-notes 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 last-Wednesday's low crossing at 137.195 would temper the near-term friendly outlook. Closes above the reaction high crossing at 138.070 would open the door for a possible test of November's high crossing at 138.300. First resistance is the reaction high crossing at 138.070. Second resistance is November's high crossing at 138.300. First support is the December 4th low crossing at 137.075. Second support is November's low crossing at 136.265.
February hogs closed up $1.95 at $67.98. February hogs closed sharply higher on Wednesday as it renewed 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 neutral to bullish signaling that sideways to higher prices are possible near-term. If February extends this month's rally, December's high crossing at $69.60 is the next upside target. Closes below last-Wednesday's low crossing at $64.65 would confirm that a short-term top has been posted. First resistance is today's high crossing at $68.13. Second resistance is December's high crossing at $69.60. First support is December's low crossing at $63.00. Second support is November's low crossing at $62.75. Third support is September's crossing at $61.55. February cattle closed up $1.33 at $114.78 February cattle posted a key reversal up as it closed higher on Wednesday ending a two-day correction off Monday's high. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are turning neutral to bearish signaling that a double top with November's high might have been posted with Monday's high. Closes below the 50-day moving average crossing at $111.91 would signal that a short-term top has been posted. If February renews the rally off October's low, September's high crossing at $116.63 is the next upside target. If First resistance is November's high crossing at $115.45. Second resistance is September's high crossing at $116.63. First support is the 50-day moving average crossing at $111.91. Second support is the December 8th low crossing at $110.55. March Feeder cattle closed up $0.15 at $142.03. March Feeder cattle closed higher on Wednesday. The high-range close sets the stage for a steady to higher 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 March extends the rally off October's low, August's high crossing at $145.30 is the next upside target. Closes below the 20-day moving average crossing at $140.42 would signal that a short-term top has been posted. First resistance is Tuesday's high crossing at $143.43. Second resistance is August's high crossing at $145.30. First support is the 20-day moving average crossing at $140.42. Second support is the December 7th low crossing at $137.25.
February gold closed higher 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 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 20-day moving average crossing at $1847.40 would signal that a short-term top has been posted. If February renews the rally off November's low, November's high crossing at $1973.30 is the next upside target. First resistance is the November 16th high crossing at $1904.30. Second resistance is November's high crossing at $1973.30. First support is last-Monday's low crossing at $1820.00. Second support is November's low crossing at $1767.20. March silver 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 neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at 24.530 would signal that a short-term top has been posted. If March extends the rally off November's low, the September 15th high crossing at 28.015 is the next upside target. First resistance is Monday's high crossing at 27.635. Second resistance is the September 15th high crossing at 28.015. First support is the reaction low crossing at 23.630. Second support is November's low crossing at 21.960. March copper closed higher 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 night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 351.90 would signal that a short-term top has been posted. If March renews the rally off March's low, monthly resistance crossing at 379.25 is the next upside target. First resistance is last-Friday's high crossing at 364.46. Second resistance is monthly resistance crossing at 379.25. First support is the 20-day moving average crossing at 351.90. Second support is the 50-day moving average crossing at 329.67.
| | | Top Stocks | | # | symbol | name | last | net | % | volume | score | triangles | | | 1. | FEYE | FireEye, Inc | 24.07 | +1.67 | +11.70% | 47,855,831 | +90 |    | Entry Signal | | 2. | GME | GameStop Corp | 20.5400 | +1.0800 | +9.33% | 25,155,540 | +90 | | Entry Signal | | 3. | PIC | Pivotal Investment Corporation II | 19.51 | +4.19 | +41.53% | 21,727,015 | +100 | | Entry Signal | | 4. | MBIO | Mustang Bio, Inc | 3.995 | +0.635 | +22.92% | 18,369,998 | +100 | | Entry Signal | | 5. | VVPR | VivoPower Intl Plc | 9.345 | +1.455 | +20.52% | 16,327,016 | +90 | | Entry Signal | | 6. | IPOC | Social Capital Hedosophia Holdings Corp. III | 14.00 | +0.55 | +5.51% | 15,123,102 | +90 | | Entry Signal | | 7. | GHIV | Gores Holdings IV, Inc. | 12.08 | +0.95 | +9.57% | 14,970,089 | +100 | | Entry Signal | | 8. | LAC | Lithium Americas Corp | 12.43 | +1.08 | +10.22% | 14,772,852 | +90 | | Entry Signal | | 9. | LIZI | LIZHI INC. | 4.06 | +0.44 | +21.26% | 14,098,273 | +100 | | Entry Signal | | 10. | CLDR | Cloudera, Inc | 15.0000 | +0.3600 | +3.57% | 11,867,546 | +90 | | Entry Signal | | | | | Top Futures | | # | symbol | name | last | net | % | volume | score | triangles | | | 1. | HE.G21 | LEAN HOGS Feb 2021 | 67.975 | +1.875 | +2.80% | 14,566 | +100 | | Entry Signal | | 2. | ZW.H21 | WHEAT Mar 2021 | 631.25 | +0.50 | +0.08% | 10,864 | +100 | | Entry Signal | | 3. | GE.F21 | EURODOLLAR Jan 2021 | 99.8025 | +0.0100 | +0.01% | 9,172 | +100 | | Entry Signal | | 4. | ZS.F21 | SOYBEANS Jan 2021 | 1271.75 | +11.75 | +1.08% | 8,447 | +100 | | Entry Signal | | 5. | HE.M21 | LEAN HOGS Jun 2021 | 82.350 | +1.100 | +1.39% | 4,576 | +100 | | Entry Signal | | 6. | M6B.H21 | E-MICRO GBP/USD Mar 2021 | 1.3596 | +0.0100 | +0.77% | 3,947 | +100 | | Entry Signal | | 7. | HE.Q21 | LEAN HOGS Aug 2021 | 82.150 | +0.650 | +0.82% | 2,422 | +100 | | Entry Signal | | 8. | HE.N21 | LEAN HOGS Jul 2021 | 82.70 | +0.85 | +1.07% | 2,132 | +100 | | Entry Signal | | 9. | @MW.N21 | HARD RED SPRING WHEAT JULY 2021 | 596.75 | +9.50 | +1.60% | 2,108 | +100 | | Entry Signal | | 10. | QCL.F22 | CRUDE OIL JANUARY 2022 | 47.04 | +0.54 | +1.14% | 1,307 | +90 | | Entry Signal | |
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