Key Market Reports and Commentary for Friday 22/02/2013

F R I D A Y   M O R N I N G   E X T R E M E   M A R K E T S
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KEY EVENTS TO WATCH FOR:
Friday, February 22, 2013
8:30 AM ET. U.S. Weekly Export Sales

Corn, In Metric Tons (previous 284.7K)

Soybeans, In Metric Tons (previous 454.2K)

Wheat, In Metric Tons (previous 706.3K)

Key Events and Commentary available earlier every morning, via MarketClub (http://www.marketclub.com/)

STOCK INDEXES & MARKETS http://quotes.ino.com/exchanges/?c=indexes+

The March NASDAQ 100 was higher due to short covering overnight as it
consolidates some of this week’s decline. Stochastics and the RSI are bearish
signaling that sideways to lower prices are possible near-term. If March
extends this week’s decline, the January 2nd gap crossing at 2665.00 is the
next downside target. Closes above the 10-day moving average crossing at
2755.90 would confirm that a short-term top has been posted. First resistance
is the 10-day moving average crossing at 2755.90. Second resistance is
Wednesday’s high crossing at crossing at 2786.50. First support is Thursday’s
low crossing at 2699.50. Second support is the January 2nd gap crossing at
2665.00.

The March S&P 500 index was higher due to short covering overnight as it
consolidates some of this week’s decline. Stochastics and the RSI are bearish
signaling that sideways to lower prices are possible near-term. If March
extends this week’s decline, the 25% retracement level of the November-February
rally crossing at 1482.65 is the next downside target. Closes above the 10-day
moving average crossing at 1513.87 would confirm that a short-term low has been
posted. First resistance is the 10-day moving average crossing at 1513.87.
Second resistance is Wednesday’s high crossing at 1530.00. First support is the
reaction low crossing at 1490.50. Second support is the 25% retracement level
of the November-February rally crossing at 1482.65.

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March T-bonds was lower due to the overnight rebound in the equity markets
overnight while extending the trading range of the past four-weeks. Stochastics
and the RSI are bullish signaling that sideways to higher prices are possible
near-term. Closes above the reaction high crossing at 144-13 are needed to
confirm an upside breakout of the aforementioned trading range. If March renews
this winter’s decline, weekly support crossing at 139-14 is the next downside
target. First resistance is the reaction high crossing at 143-30. Second
resistance is the reaction high crossing at 144-13. First support is the
reaction low crossing at 142-05. Second support is weekly support crossing at
139-14.

ENERGY MARKETS http://quotes.ino.com/exchanges/category.html?c=energy

April crude oil was higher due to short covering overnight as it
consolidates some of this week’s decline. Stochastics and the RSI are bearish
signaling that sideways to lower prices are possible near-term. If April
extends this week’s decline, the 50% retracement level of the November-February
rally crossing at 92.56 is the next downside target. Closes above the 20-day
moving average crossing at 96.75 would confirm that a low has been posted.
First resistance is the 20-day moving average crossing at 96.75. Second
resistance is this month’s high crossing at 98.65. First support is the 50%
retracement level of the November-February rally crossing at 92.56. Second
support is the 62% retracement level of the November-February rally crossing at
91.11.

March heating oil was higher due to short covering overnight as it
consolidates some of the decline off this month’s high. Stochastics and the RSI
are bearish signaling that additional weakness is possible near-term. If March
extends this month’s decline, the 50% retracement level of the
December-February rally crossing at 307.96 is the next downside target. Closes
above the 10-day moving average crossing at 318.96 would confirm that a
short-term low has been posted. First resistance is the 20-day moving average
crossing at 316.08. Second resistance is the 10-day moving average crossing at
318.96. First support is the 50% retracement level of the December-February
rally crossing at 307.96. Second support is the 62% retracement level of the
December-February rally crossing at 303.75.

March unleaded gas was higher due to short covering overnight as it rebounds
off the 20-day moving average crossing at 303.56. Stochastics and the RSI are
bearish signaling that sideways to lower prices are possible near-term. Closes
below the 20-day moving average crossing at 303.56 are needed to confirm that a
short-term top has been posted. If March renews this winter’s rally, weekly
resistance crossing at 334.71 is the next upside target. First resistance is
Tuesday’s high crossing at 316.91. Second resistance is weekly resistance
crossing at 334.71. First support is the 20-day moving average crossing at
303.56. Second support is the 25% retracement level of the June-February rally
crossing at 293.53.

March Henry natural gas was higher overnight as it consolidates some of
Thursday’s decline. Stochastics and the RSI have turned bullish signaling that
a short-term low might be in or is near. Closes above the 20-day moving average
crossing at 3.293 would confirm that a short-term low has been posted. If March
renews the decline off January’s high, January’s low crossing at 3.100 is the
next downside target. First resistance is the 20-day moving average crossing at
3.293. Second resistance is the reaction high crossing at 3.459. First support
is last Friday’s low crossing at 3.125. Second support is January’s low
crossing at 3.100.

CURRENCIES http://quotes.ino.com/exchanges/category.html?c=currencies

The March Dollar was lower overnight as it consolidates some of this month’s
rally. Stochastics and the RSI are overbought but remain neutral to bullish
signaling that additional short-term gains are possible. If March extends this
month’s rally, the 50% retracement level of the July-February decline crossing
at 81.91 is the next upside target. Closes below the 20-day moving average
crossing at 80.19 are needed to confirm that a short-term top has been posted.
First resistance is the overnight high crossing at 81.62. Second resistance is
the 50% retracement level of the July-February decline crossing at 81.91. First
support is the 10-day moving average crossing at 80.71. Second support is the
20-day moving average crossing at 80.19.

The March Euro was steady to slightly higher overnight as it consolidates
some of this month’s decline. Stochastics and the RSI are oversold but remain
neutral to bearish signaling that additional weakness is possible near-term. If
March extends this month’s decline, the 62% retracement level of the
November-February rally crossing at 130.77 is the next downside target. Closes
above the 20-day moving average crossing at 134.33 would confirm that a low has
been posted. First resistance is the 10-day moving average crossing at 133.38.
Second resistance is the 20-day moving average crossing at 134.33. First
support is the overnight low crossing at 131.59. Second support is the 62%
retracement level of the November-February rally crossing at 130.77.

The March British Pound was slightly higher due to short covering in
overnight trading. Stochastics and the RSI are oversold but remain neutral to
bearish signaling that additional weakness is possible near-term. If March
extends this year’s decline, weekly support crossing at 1.4857 is the next
downside target. Closes above the 20-day moving average crossing at 1.5609 are
needed to confirm that a short-term low has been posted. First resistance is
the 10-day moving average crossing at 1.5480. Second resistance is the 20-day
moving average crossing at 1.5609. First support is Thursday’s low crossing at
1.5124. Second support is weekly support crossing at 1.4857.

The March Swiss Franc was lower overnight as it extends this month’s
decline. Stochastics and the RSI are oversold but remain bearish signaling that
sideways to lower prices are possible near-term. If March extends this month’s
decline, January’s low crossing at .10657 is the next downside target. Closes
above the 20-day moving average crossing at .10887 would confirm that a
short-term low has been posted. First resistance is the 20-day moving average
crossing at .10887. Second resistance is this month’s high crossing at .11080.
First support is Thursday’s low crossing at .10716. Second support is January’s
low crossing at .10657.

The March Canadian Dollar was slightly higher due to light short covering
overnight as it consolidates some of this year’s decline. Stochastics and the
RSI are oversold but remain neutral to bearish signaling that additional
weakness is possible near-term. If March extends the decline off January’s
high, the 75% retracement level of 2012′s rally crossing at 97.31 is the next
downside target. Closes above the 20-day moving average crossing at 99.46 are
needed to confirm that a short-term low has been posted. First resistance is
the 10-day moving average crossing at 99.06. Second resistance is the 20-day
moving average crossing at 99.46. First support is Thursday’s low crossing at
97.91. Second support is the 75% retracement level of 2012′s rally crossing at
97.31.

The March Japanese Yen was lower overnight as it extends the trading range
of the past three weeks. Stochastics and the RSI are bullish hinting that the
March Yen might be correcting more in time than price. Closes above the
reaction high crossing at .10854 are needed to confirm that a short-term low
has been posted. If March renews the decline off September’s high, monthly
support crossing at .10532 is the next downside target. First resistance is the
20-day moving average crossing at .10792. Second resistance is the reaction
high crossing at .10854. First support is last Monday’s low crossing at .10588.
Second support is monthly support crossing at .10532.

PRECIOUS METALS http://quotes.ino.com/exchanges/?c=metals

April gold was slightly lower overnight. The low-range close sets the stage
for a steady to lower opening when the day session begins trading. Stochastics
and the RSI are oversold but are turning neutral to bullish hinting that a low
might be in or is near. Closes above the 20-day moving average crossing at
1644.20 would confirm that a short-term low has been posted. If April extends
the decline off January’s high, last May’s low crossing at 1538.70 is the next
downside target. First resistance is the 10-day moving average crossing at
1619.50. Second resistance is the 20-day moving average crossing at 1644.20.
First support is Thursday’s low crossing at 1554.30. Second support is last
May’s low crossing at 1538.70.

May silver was higher due to short covering overnight as it consolidates
some of this month’s decline. Stochastics and the RSI are oversold but remain
neutral to bearish signaling that sideways to lower prices are possible
near-term. If May extends this month’s decline, the 87% retracement level of
the June-October rally crossing at 27.529 is the next downside target. Closes
above the 20-day moving average crossing at 30.834 are needed to confirm that a
short-term low has been posted. First resistance is the 10-day moving average
crossing at 30.056. Second resistance is the 20-day moving average crossing at
30.834. First support is Wednesday’s low crossing at 28.255. Second support is
the 87% retracement level of the June-October rally crossing at 27.529.

May copper was higher due to short covering overnight as it consolidates
some of this month’s decline. Stochastics and the RSI are oversold but remain
bearish signaling that additional weakness is possible near-term. If May
extends this month’s decline, the 75% retracement level of the
November-February rally crossing at 352.90 is the next downside target. Closes
above the 20-day moving average crossing at 371.97 are needed to temper the
near-term bearish outlook. First resistance is the 20-day moving average
crossing at 371.97. Second resistance is this month’s high crossing at 379.25.
First support is Thursday’s low crossing at 355.35. Second support is the 75%
retracement level of the November-February rally crossing at 352.90.

FOOD & FIBER http://quotes.ino.com/exchanges/category.html?c=food

March coffee closed higher on Thursday as it consolidates some of the
decline off January’s high. The high-range close set the stage for a steady to
higher opening on Friday. Stochastics and the RSI are turning neutral to
bullish hinting that a low might be in or is near. Closes above the 20-day
moving average crossing at 14.31 would confirm that a short-term low has been
posted. If March extends the decline off January’s high, weekly support
crossing at 13.20 is the next downside target.

March cocoa closed higher on Thursday. The low-range close sets the stage
for a steady to lower opening on Friday. Stochastics and the RSI are oversold
and are turning neutral to bullish hinting that a low might be in or is near.
Closes above the 20-day moving average crossing at 21.80 would confirm that a
short-term low has been posted. If March extends the decline off September’s
high, last June’s low crossing at 20.65 is the next downside target.

March sugar closed lower on Thursday. The mid-range close set the stage for
a steady opening on Friday. Stochastics and the RSI are turning bullish
signaling that sideways to higher prices are possible near-term. Closes above
the 20-day moving average crossing at 18.37 would confirm that a short-term low
has been posted. If March extends this year’s decline, the 75% retracement
level of the 2010-2011 rally crossing at 17.38 is the next downside target.

March cotton closed lower on Thursday. The low-range close sets the stage
for a steady to lower opening on Friday. Stochastics and the RSI have turned
bullish signaling that sideways to higher prices are possible near-term. If
March renews this winter’s rally, the 62% retracement level of the 2012-decline
crossing at 86.50 is the next upside target. Closes below the reaction low
crossing at 80.05 would confirm that a top has been posted.
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GRAINS http://quotes.ino.com/exchanges/category.html?c=grains

March corn was higher due to short covering overnight as it consolidates
some of Thursday’s decline. This morning’s export sales report will set the
tone for today’s trading ahead of the weekend. The high-range close sets the
stage for a steady to higher opening when the day session begins trading.
Stochastics and the RSI are oversold and are turning neutral to bullish hinting
that a short-term low might be in or is near. Closes above the 20-day moving
average crossing at 7.13 1/2 are needed to confirm that a short-term low has
been posted. If March renews this month’s decline, the reaction low crossing at
6.86 1/4 is the next downside target. First resistance is the 10-day moving
average crossing at 6.97 3/4. Second resistance is the 20-day moving average
crossing at 7.13 1/2. First support is last Wednesday’s low crossing at 6.87
1/4. Second support is the reaction low crossing at 6.86 1/4.

March wheat was higher due to short covering overnight as it consolidates
some of Thursday’s decline, which led to a close below the 75% retracement
level of 2012′s rally crossing at 7.25 3/4. The high-range close sets the stage
for a steady to higher opening when the day session begins trading. Stochastics
and the RSI are oversold but are neutral to bearish signaling that additional
weakness is possible near-term. If March extends this month’s decline, the 87%
retracement level of 2012′s rally crossing at 6.88 3/4 is the next downside
target. Closes above the 20-day moving average crossing at 7.52 3/4 are needed
to confirm that a low has been posted. First resistance is the 10-day moving
average crossing at 7.35 1/2. Second resistance is the 20-day moving average
crossing at 7.52 3/4. First support is Thursday’s low crossing at 7.19 1/4.
Second support is the 87% retracement level of 2012′s rally crossing at 6.88
3/4.

March Kansas City Wheat closed down 20-cents at 7.57 1/4.

March Kansas City wheat closed lower on Thursday extending the decline off
November’s high. The low-range close sets the stage for a steady to lower
opening on Friday. Stochastics and the RSI are oversold but remain neutral to
bearish signaling that sideways to lower prices are possible near-term. If
March extends the decline off January’s high, the 75% retracement level of
2012′s rally crossing at 7.38 3/4 is the next downside target. Closes above the
20-day moving average crossing at 8.02 1/2 are needed to confirm that a
short-term low has been posted. First resistance is the 10-day moving average
crossing at 7.80 1/4. Second resistance is the 20-day moving average crossing
at 8.02 1/2. First support is today’s low crossing at 7.57 1/4. Second support
is the 75% retracement level of 2012′s rally crossing at 7.38 3/4.

March Minneapolis wheat was higher due to short covering overnight as it
consolidates some of Thursday’s decline but remains below the 75% retracement
level of the 2012-rally crossing at 8.15 1/2. The high-range close sets the
stage for a steady to higher opening when the day session begins to trade.
Stochastics and the RSI are 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 8.37 1/4 are needed to confirm that a short-term low
has been posted. If March extends this winter’s decline, the 87% retracement
level of the 2012-rally crossing at 7.79 is the next downside target. First
resistance is the 10-day moving average crossing at 8.19 3/4. Second resistance
is the 20-day moving average crossing at 8.37 1/4. First support is Thursday’s
low crossing at 8.05 3/4. Second support is the 87% retracement level of the
2012-rally crossing at 7.79.

SOYBEAN COMPLEX

March soybeans higher overnight and has broken out above December’s high of
15.01 1/4 thereby renewing this year’s rally. The high-range close sets the
stage for steady to firmer opening when the day session begins trading later
this morning. Stochastics and the RSI are bullish signaling that sideways to
higher prices are possible near-term. If March extends this week’s rally,
November’s high crossing at 15.45 is the next upside target. Closes below the
10-day moving average crossing at 14.51 3/4 are needed to confirm that a
short-term top has been posted. First resistance is the overnight high crossing
at 15.16 1/2. Second resistance is November’s high crossing at 15.45. First
support is the 10-day moving average crossing at 1451 3/4. Second support is
last Wednesday’s low crossing at 14.04 1/2.

March soybean meal higher overnight and has renewed this year’s rally. The
high-range close sets the stage for a steady to higher opening when the day
session begins trading. Stochastics and the RSI remain bullish signaling that
sideways to higher prices are possible near-term. If March extends this week’s
rally, December’s high crossing at 457.90 is the next upside target. Closes
below the 10-day moving average crossing at 421.00 would confirm a short-term
top has been posted. First resistance is the overnight high crossing at 445.00.
Second resistance is December’s high crossing at 457.90. First support is the
10-day moving average crossing at 421.00. Second support is last Thursday’s low
crossing at 402.70.

March soybean oil was higher due to short covering overnight. The mid-range
close 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 last Wednesday’s
low crossing at 50.56 would confirm a trend change while opening the door for a
possible test of the reaction low crossing at 49.12 later this winter. If March
renews the rally off last Wednesday’s low, February’s high crossing at 53.57 is
the next upside target. First resistance is Wednesday’s high crossing at 52.79.
Second resistance is this month’s high crossing at 53.57. First support is last
Wednesday’s low crossing at 50.56. Second support is the reaction low crossing
at 49.12.

LIVESTOCK http://quotes.ino.com/exchanges/?c=livestock

April hogs closed down $0.57 at $82.37.

April hogs closed lower on Thursday extending the decline off November’s
high. The low-range close sets the stage for a steady to lower opening when
Friday’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 April extends this month’s decline, the 87% retracement level of
the May-November rally crossing at 81.14 is the next downside target. Closes
above the 20-day moving average crossing at 86.73 are needed to confirm that a
short-term low has been posted. First resistance is the 10-day moving average
crossing at 84.77. Second resistance is the 20-day moving average crossing at
86.73. First support is Wednesday’s low crossing at 82.12. Second resistance is
the 87% retracement level of the May-November rally crossing at 81.14.

April cattle closed down $0.40 at 127.82.

April cattle closed lower on Thursday and the low-range close sets the stage
for a steady to lower opening when Friday’s night session begins trading.
Stochastics and the RSI are turning bearish signaling that sideways to lower
prices are possible near-term. If April extends this year’s decline, last
April’s low crossing at 125.90 is the next downside target. Closes above the
20-day moving average crossing at 130.92 are needed to confirm that a
short-term low has been posted. First resistance is the 20-day moving average
crossing at 130.92. Second resistance is the reaction high crossing at 133.65.
First support is Wednesday’s low crossing at 127.50. Second support is last
April’s low crossing at 125.90.

March feeder cattle closed down $0.02 at $140.70.

March Feeder cattle closed lower on Thursday. The mid-range close sets the
stage for a steady opening when Friday’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 145.98 are needed to confirm that a short-term low has been posted.
If March renews this year’s decline, weekly support crossing at 138.48 is the
next downside target. First resistance is the 10-day moving average crossing at
143.22. Second resistance is the 20-day moving average crossing at 145.98.
First support is last Thursday’s low crossing at 139.50. Second support is
weekly support crossing at 138.48.

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T H A N K   Y O U
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Key Market Reports and Commentary for Tuesday

T U E S D A Y   M O R N I N G   E X T R E M E   M A R K E T S
A complimentary service from INO.com ( http://www.ino.com/ )

KEY EVENTS TO WATCH FOR:
Tuesday, February 19, 2013
10:00 AM ET. Feb NAHB Housing Market Index

Housing Market Index (previous 47)

Key Events and Commentary available earlier every morning, via MarketClub (http://www.marketclub.com/)

STOCK INDEXES & MARKETS http://quotes.ino.com/exchanges/?c=indexes+

The March NASDAQ 100 was higher overnight as it extends last week’s trading
range above the 75% retracement level of the September-November decline
crossing at 2760.81. Stochastics and the RSI are diverging and have turned
neutral hinting that a short-term top might be in or is near. Closes below the
reaction low crossing at 2709.00 would confirm that a short-term top has been
posted. If March renews the rally off the late-December low, the 87%
retracement level of the September-November decline crossing at crossing at
2804.15 is the next upside target. First resistance is last Wednesday’s high
crossing at crossing at 2781.75. Second resistance is the 87% retracement level
of the September-November decline crossing at 2804.15. First support is the
reaction low crossing at 2709.00. Second support is the January 2nd gap
crossing at 2665.00.

The March S&P 500 index was higher overnight as it extends the rally off
November’s low. Stochastics and the RSI are overbought, diverging but are
neutral to bullish signaling that sideways to higher prices are possible
near-term. If March extends the rally off November’s low, weekly resistance
crossing at 1526.50 is the next upside target. Closes below the 20-day moving
average crossing at 1504.46 would confirm that a short-term top has been
posted. First resistance is last Wednesday’s high crossing at 1521.80. Second
resistance is weekly resistance crossing at 1526.50. First support is the
20-day moving average crossing at 1504.46. Second support is the reaction low
crossing at 1457.00.

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_______________________________________

INTEREST RATES http://quotes.ino.com/exchanges/?c=interest

March T-bonds was higher overnight as it extends the trading range of the
past four-weeks. Stochastics and the RSI are bullish signaling that sideways to
higher prices are possible near-term. Closes above the reaction high crossing
at 144-13 are needed to confirm that a short-term low has been posted. If March
renews this winter’s decline, weekly support crossing at 139-14 is the next
downside target. First resistance is the 20-day moving average crossing at
143-26. Second resistance is the reaction high crossing at 144-13. First
support is the reaction low crossing at 142-05. Second support is weekly
support crossing at 139-14.

ENERGY MARKETS http://quotes.ino.com/exchanges/category.html?c=energy

March crude oil was lower overnight as it extends last Friday’s decline.
Stochastics and the RSI are diverging and are turning bearish signaling that
sideways to lower prices are possible near-term. Closes below last Monday’s low
crossing at 94.97 would confirm that a short-term top has been posted while
opening the door for additional weakness near-term. If March renews the rally
off November’s low, the 87% retracement level of the September-November decline
crossing at 99.78 is the next upside target. First resistance is this month’s
high crossing at 98.24. Second resistance is the 87% retracement level of the
September-November decline crossing at 99.78. First support is last Monday’s
low crossing at 94.97. Second support is the 38% retracement level of the
November-February rally crossing at 93.47.

March heating oil was lower overnight as it extends the decline off last
week’s high. Stochastics and the RSI are overbought and are turning bearish
hinting that a short-term top might be in or is near. Closes below the 20-day
moving average crossing at 315.39 would confirm that a short-term top has been
posted. If March renews the rally off December’s low, last March’s high
crossing at 331.32 is the next upside target. First resistance is this month’s
high crossing at 325.75. Second resistance is last March’s high crossing at
331.32. First support is last Friday’s low crossing at 317.44. Second support
is the 20-day moving average crossing at 315.39.

March unleaded gas was higher overnight as it extends this winter’s rally.
Stochastics and the RSI are overbought, diverging but are neutral to bullish
signaling that sideways to higher prices are possible near-term. If March
renews this winter’s rally, weekly resistance crossing at 334.71 is the next
upside target. Closes below the 20-day moving average crossing at 300.73 are
needed to confirm that a short-term top has been posted. First resistance is
the overnight high crossing at 316.91. Second resistance is weekly resistance
crossing at 334.71. First support is the 10-day moving average crossing at
306.44. Second support is the 20-day moving average crossing at 300.73.

March Henry natural gas was slightly higher due to short covering overnight
as it consolidates some of this month’s decline. Stochastics and the RSI are
oversold but are neutral to bearish signaling that additional weakness is still
possible near-term. If March extends the decline off January’s high, January’s
low crossing at 3.100 is the next downside target. Closes above the 20-day
moving average crossing at 3.328 would confirm that a short-term low has been
posted. First resistance is the 20-day moving average crossing at 3.328. Second
resistance is the reaction high crossing at 3.459. First support is last
Friday’s low crossing at 3.125. Second support is January’s low crossing at
3.100.

CURRENCIES http://quotes.ino.com/exchanges/category.html?c=currencies

The March Dollar was higher overnight as it extends this month’s rally.
Stochastics and the RSI are overbought but are neutral to bullish signaling
that additional short-term gains are possible. If March extends this month’s
rally, January’s high crossing at 80.99 is the next upside target. Closes below
the 20-day moving average crossing at 79.97 are needed to confirm that a
short-term top has been posted. First resistance is last Friday’s high crossing
at 80.83. Second resistance is January’s high crossing at 80.99. First support
is the 20-day moving average crossing at 79.97. Second support is this month’s
low crossing at 78.91.

The March Euro was lower overnight as it extends this month’s decline.
Stochastics and the RSI are bearish signaling that additional weakness is
possible near-term. If March extends this month’s decline, the November-January
uptrend line crossing near 132.84 is the next downside target. Closes below
this uptrend line would confirm an intermediate trend change while opening the
door for additional weakness near-term. Closes above the 20-day moving average
crossing at 134.50 would temper the near-term bearish outlook. First resistance
is the 20-day moving average crossing at 134.50. Second resistance is this
month’s high crossing at 137.15. First support is last Friday’s low crossing at
133.08. Second support is the November-January uptrend line crossing near
132.84.

The March British Pound was lower overnight as it extends this winter’s
decline. Stochastics and the RSI are oversold but remain neutral to bearish
signaling that additional weakness is possible near-term. If March extends the
decline off January’s high, last May’s low crossing at 1.5360 is the next
downside target. Closes above the 20-day moving average crossing at 1.5697 are
needed to confirm that a short-term low has been posted. First resistance is
the 10-day moving average crossing at 1.5614. Second resistance is the 20-day
moving average crossing at 1.5697. First support is the overnight low crossing
at 1.5435. Second support is last May’s low crossing at 1.5360.

The March Swiss Franc was lower overnight as it extends this month’s
decline. Stochastics and the RSI remain bearish signaling that sideways to
lower prices are possible near-term. If March extends this month’s decline,
January’s low crossing at .10657 is the next downside target. Closes above the
10-day moving average crossing at .10902 would confirm that a short-term low
has been posted. First resistance is the 10-day moving average crossing at
.10902. Second resistance is this month’s high crossing at .11080. First
support is the overnight low crossing at .10804. Second support is January’s
low crossing at .10657.

The March Canadian Dollar was sharply lower overnight and trading below
January’s low thereby renewing this year’s decline. Stochastics and the RSI
have turned bearish signaling that additional weakness is possible near-term.
If March extends the decline off January’s high, the 62% retracement level of
2012′s rally crossing at 98.35 is the next downside target. Closes above the
20-day moving average crossing at 99.75 are needed to confirm that a short-term
low has been posted. First resistance is the 20-day moving average crossing at
99.75. Second resistance is the reaction high crossing at 100.59. First support
is the overnight low crossing at 98.66. Second support is the 62% retracement
level of 2012′s rally crossing at 98.35.

The March Japanese Yen was lower overnight as it extends the trading range
of the past two weeks. Stochastics and the RSI are turning bullish hinting that
a short-term low might be in or is near. Closes above the 20-day moving average
crossing at .10869 are needed to confirm that a short-term low has been posted.
If March extends the decline off September’s high, monthly support crossing at
.10532 is the next downside target. First resistance is last Friday’s high
crossing at .10846. Second resistance is the 20-day moving average crossing at
.10869. First support is last Monday’s low crossing at .10588. Second support
is monthly support crossing at .10532.

PRECIOUS METALS http://quotes.ino.com/exchanges/?c=metals

April gold was higher due to short covering overnight as it consolidates
some of last Friday’s low. The mid-range close sets the stage for a steady to
higher 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 April extends the decline off January’s high, the
87% retracement level of last year’s rally crossing at 1571.30 is the next
downside target. Closes above the 20-day moving average crossing at 1660.80
would confirm that a short-term low has been posted. First resistance is the
10-day moving average crossing at 1649.20. Second resistance is the 20-day
moving average crossing at 1660.80. First support is last Friday’s low crossing
at 1596.70. Second support is the 87% retracement level of last year’s rally
crossing at 1571.30.

March silver was higher due to short covering overnight as it consolidates
some of this month’s decline. Stochastics and the RSI are oversold but remain
bearish signaling that sideways to lower prices are possible near-term. If
March extends this month’s decline, January’s low crossing at 29.240 is the
next downside target. Closes above the 20-day moving average crossing at 31.319
are needed to confirm that a short-term low has been posted. First resistance
is the 20-day moving average crossing at 31.319. Second resistance is January’s
high crossing at 32.365. First support is last Friday’s low crossing at 29.660.
Second support is January’s low crossing at 29.240.

March copper was sharply lower overnight and has broken out below the
November-December uptrend line crossing near 367.44. Stochastics and the RSI
are bearish signaling that additional weakness is possible near-term. Closes
below the aforementioned uptrend line would confirm that an intermediate trend
change has taken place while opening the door for additional weakness
near-term. Closes above the 10-day moving average crossing at 373.45 are needed
to temper the near-term bearish outlook. First resistance is the 10-day moving
average crossing at 373.45. Second resistance is this month’s high crossing at
379.25. First support is the November-December uptrend line crossing near
367.44. Second support is the reaction low crossing at 364.05.

FOOD & FIBER http://quotes.ino.com/exchanges/category.html?c=food

March coffee closed lower on Friday as it extends the decline off January’s
high. The low-range close set the stage for a steady to lower opening on
Tuesday. Stochastics and the RSI are oversold but remain neutral to bearish
signaling that sideways to lower prices are possible near-term. If March
extends the decline off January’s high, weekly support crossing at 13.20 is the
next downside target. Closes above the 20-day moving average crossing at 14.48
would confirm that a short-term low has been posted.

March cocoa closed higher due to short covering on Friday. The low-range
close sets the stage for a steady to lower opening on Tuesday. Stochastics and
the RSI are oversold but remain bearish signaling that sideways to lower prices
are possible near-term. If March extends the decline off September’s high, last
June’s low crossing at 20.65 is the next downside target. Closes above the
20-day moving average crossing at 21.96 would confirm that a short-term low has
been posted.

March sugar closed slightly higher on Friday. However; the low-range close
set 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 this year’s decline, the 75% retracement level of
the 2010-2011 rally crossing at 17.38 is the next downside target. Closes above
the 20-day moving average crossing at 18.39 would confirm that a short-term low
has been posted.

March cotton closed higher due to short covering on Friday but remains below
the 20-day moving average crossing at 81.58. The mid-range close sets the stage
for a steady to lower opening on Tuesday. Stochastics and the RSI remain
bearish signaling that sideways to lower prices are possible near-term. If
March extends Wednesday’s decline, minor support crossing at 78.97 is the next
downside target. If March renews this winter’s rally, the 62% retracement level
of the 2012-decline crossing at 86.50 is the next upside target.
——————————

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GRAINS http://quotes.ino.com/exchanges/category.html?c=grains

March corn was higher due to short covering overnight as it consolidated
some of this month’s decline. The mid-range close sets the stage for a steady
to higher opening when the day session begins trading. Stochastics and the RSI
are oversold and are turning bullish hinting that a short-term low might be in
or is near. Closes above the 20-day moving average crossing at 7.18 are needed
to confirm that a short-term low has been posted. If March extends this month’s
decline, the reaction low crossing at 6.86 1/4 is the next downside target.
First resistance is the 10-day moving average crossing at 7.05 3/4. Second
resistance is the 20-day moving average crossing at 7.18. First support is last
Wednesday’s low crossing at 6.87 1/4. Second support is the reaction low
crossing at 6.86 1/4.

March wheat was higher due to short covering overnight as it rebounds off
the 75% retracement level of 2012′s rally crossing at 7.25 3/4. The mid-range
close sets the stage for a steady to higher opening when the day session begins
trading. Stochastics and the RSI are oversold and are turning bullish hinting
that a low might be in or is near. Closes above the 20-day moving average
crossing at 7.60 1/4 are needed to confirm that a low has been posted. If March
extends this month’s decline, the 87% retracement level of 2012′s rally
crossing at 6.88 3/4 is the next downside target. First resistance is the
10-day moving average crossing at 7.45 3/4. Second resistance is the 20-day
moving average crossing at 7.60 1/4. First support is the 75% retracement level
of 2012′s rally crossing at 7.25 3/4. Second support is the 87% retracement
level of 2012′s rally crossing at 6.88 3/4.

March Kansas City Wheat closed up 2 1/2-cents at 7.77 1/2.

March Kansas City wheat closed higher due to short covering on Friday as it
consolidated some of the decline off November’s high. The low-range close sets
the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are
oversold but remain neutral to bearish signaling that sideways to lower prices
are possible near-term. If March extends the decline off January’s high, the
75% retracement level of 2012′s rally crossing at 7.38 3/4 is the next downside
target. Closes above the 20-day moving average crossing at 8.12 3/4 are needed
to confirm that a short-term low has been posted. First resistance is the
10-day moving average crossing at 7.93 1/4. Second resistance is the 20-day
moving average crossing at 8.12 3/4. First support is Thursday’s low crossing
at 7.72 3/4. Second support is the 75% retracement level of 2012′s rally
crossing at 7.38 3/4.

March Minneapolis wheat was higher due to short covering overnight as it
consolidates some of this month’s decline. The low-range close sets the stage
for a steady to higher opening when the day session begins to trade.
Stochastics and the RSI are oversold and are turning bullish hinting that a
short-term low might be in or is near. Closes above the 20-day moving average
crossing at 8.44 3/4 are needed to confirm that a short-term low has been
posted. If March extends this month’s decline, the 87% retracement level of the
2012-rally crossing at 7.79 is the next downside target. First resistance is
the 10-day moving average crossing at 8.29 1/4. Second resistance is the 20-day
moving average crossing at 8.44 3/4. First support is last Wednesday’s low
crossing at 8.09. Second support is the 87% retracement level of the 2012-rally
crossing at 7.79.

SOYBEAN COMPLEX

March soybeans gapped up and were sharply higher due to short covering
overnight as it consolidates some of this month’s decline. The high-range close
sets the stage for steady to higher prices when the day session begins trading
later this morning. Stochastics and the RSI are oversold and are turning
neutral to bullish signaling that sideways to higher prices are possible
near-term. Closes above the 20-day moving average crossing at 14.53 are needed
to confirm that a short-term low has been posted. If March extends this month’s
decline, January’s low crossing at 13.51 1/2 is the next downside target. First
resistance is the 20-day moving average crossing at 14.53. Second resistance is
this month’s high crossing at 14.98. First support last Wednesday’s low
crossing at 14.04 1/2. Second support is January’s low crossing at 13.51 1/2.

March soybean meal gapped up and was higher overnight as it consolidates
some of this month’s decline. The high-range close sets the stage for a steady
to higher opening when the day session begins trading. Stochastics and the RSI
are oversold but are turning bearish signaling that a low might be in or is
near. Closes above the 20-day moving average crossing at 421.70 would confirm a
short-term low has been posted. If March extends the aforementioned decline,
January’s low crossing at 392.40 is the next downside target. First resistance
is the 20-day moving average crossing at 421.70. Second resistance is this
month’s high crossing at 441.20. First support is last Thursday’s low crossing
at 402.70. Second support is January’s low crossing at 392.40.

March soybean oil was higher overnight as it extends last week’s short
covering rally. The high-range close sets the stage for a steady to higher
opening when the day session begins trading. Stochastics and the RSI have
turned bullish signaling that a low might be in or is near. Closes above the
20-day moving average crossing at 52.09 are needed to confirm that a short-term
low has been posted. Closes below last Wednesday’s low crossing at 50.56 would
open the door for a possible test of the reaction low crossing at 49.12 later
this winter. First resistance is the 20-day moving average crossing at 52.09.
Second resistance is this month’s high crossing at 53.57. First support is last
Wednesday’s low crossing at 50.56. Second support is the reaction low crossing
at 49.12.

LIVESTOCK http://quotes.ino.com/exchanges/?c=livestock

April hogs closed down $0.07 at $84.25.

April hogs closed lower on Friday extending the decline off November’s high.
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 April extends this month’s decline, the 75% retracement
level of the May-November rally crossing at 82.80 is the next downside target.
Closes above the 20-day moving average crossing at 87.53 are needed to confirm
that a short-term low has been posted. First resistance is Thursday’s gap
crossing at 85.75. Second resistance is the 10-day moving average crossing at
86.17. First support is today’s low crossing at 83.60. Second resistance is the
75% retracement level of the May-November rally crossing at 82.80.

April cattle closed up $0.67 at 130.45.

April cattle closed higher on Friday following yesterday’s key reversal up
as it consolidated some of this year’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 diverging and are turning neutral to
bullish signaling that sideways to higher prices are possible near-term. Closes
above the 20-day moving average crossing at 131.18 are needed to confirm that a
short-term low has been posted. If April renews this month’s decline, last
June’s low crossing at 127.55 is the next downside target. First resistance is
the 20-day moving average crossing at 131.18. Second resistance is the reaction
high crossing at 133.65. First support is Thursday’s low crossing at 127.62.
Second support is last June’s low crossing at 127.55.

March feeder cattle closed up $0.70 at $143.37.

March Feeder cattle closed higher on Friday confirming yesterday’s key
reversal up as it consolidates some of this year’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 diverging and are turning
bullish signaling that sideways to higher prices are possible near-term. Closes
above the 20-day moving average crossing at 146.77 are needed to confirm that a
short-term low has been posted. If March renews this year’s decline, weekly
support crossing at 138.48 is the next downside target. First resistance is the
10-day moving average crossing at 145.26. Second resistance is the 20-day
moving average crossing at 146.77. First support is Thursday’s low crossing at
139.50. Second support is weekly support crossing at 138.48.

_____________________________________________________________________

T H A N K   Y O U
_____________________________________________________________________

Copyright 2012 INO.com. All Rights Reserved.

Key Market Reports and Commentary for Friday

F R I D A Y   M O R N I N G   E X T R E M E   M A R K E T S
A complimentary service from INO.com ( http://www.ino.com/ )

KEY EVENTS TO WATCH FOR:
Friday, February 15, 2013
8:30 AM ET. Feb Empire State Manufacturing Survey

Manufacturing Index (expected –3; previous -7.78)

Employment Index (previous -4.3)

New Orders Index (previous -7.18)

Prices Received Index (previous 10.75)

9:00 AM ET. Dec Treasury International Capital Data

Monthly Net TIC Flows (previous 27.8B)

Net Foreign Acquisition of Long-Term Securities (previous 35.8B)

Net Foreign Acquisition of US Agency Debt (previous 2.69B)

Net Foreign Acquisition of US Corp Bonds (previous 10.89B)

Net Foreign Acquisition of US Equities (previous 21.47B)

Net Foreign Acquisition of US Treasury Bonds & Notes (previous 26.41B)

Net Long-Term Securities Transactions (previous 52.3B)

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

Industrial Production (expected +0.2%; previous +0.3%)

Capacity Utilization (expected 78.9; previous 78.8)

Capacity Utilization Net Change (previous +0.1)

9:55 AM ET. Feb Thomson Reuters / University of Michigan Survey of Consumers –preliminary

Sentiment Index Mid Month (expected 75; previous 71.3)

Expectations Index Mid Month (previous 62.7)

Value (Current Period) Mid Month (previous 87)

10:00 AM ET. 4 quarter Quarterly Retail E-Commerce Sales

Key Events and Commentary available earlier every morning, via MarketClub (http://www.marketclub.com/)

STOCK INDEXES & MARKETS http://quotes.ino.com/exchanges/?c=indexes+

The March NASDAQ 100 was lower overnight as it extends this week’s trading
range above the 75% retracement level of the September-November decline
crossing at 2760.81. Stochastics and the RSI are diverging and have turned
neutral hinting that a short-term top might be in or is near. Closes below the
reaction low crossing at 2709.00 would confirm that a short-term top has been
posted. If March renews the rally off the late-December low, the 87%
retracement level of the September-November decline crossing at crossing at
2804.15 is the next upside target. First resistance is Wednesday’s high
crossing at crossing at 2781.75. Second resistance is the 87% retracement level
of the September-November decline crossing at 2804.15. First support is the
reaction low crossing at 2709.00. Second support is the January 2nd gap
crossing at 2665.00.

The March S&P 500 index was lower due to profit taking overnight as it
consolidates some of the rally off November’s low. Stochastics and the RSI are
overbought, diverging and are turning neutral to bearish hinting that a pause
or setback in this winter’s rally is possible near-term. Closes below the
20-day moving average crossing at 1502.48 would confirm that a short-term top
has been posted. If March extends the rally off November’s low, weekly
resistance crossing at 1526.50 is the next upside target. First resistance is
Wednesday’s high crossing at 1521.80. Second resistance is weekly resistance
crossing at 1526.50. First support is the 20-day moving average crossing at
1502.48. Second support is the reaction low crossing at 1457.00.

______________________________

_______________________________________

INTEREST RATES http://quotes.ino.com/exchanges/?c=interest

March T-bonds was higher overnight as it extends the trading range of the
past three-weeks. Stochastics and the RSI have turned bullish signaling that
sideways to higher prices are possible near-term. Closes above the 20-day
moving average crossing at 143-29 are needed to confirm that a short-term low
has been posted. If March renews this winter’s decline, weekly support crossing
at 139-14 is the next downside target. First resistance is the 20-day moving
average crossing at 143-29. Second resistance is the reaction high crossing at
146-17. First support is last Monday’s low crossing at 142-05. Second support
is weekly support crossing at 139-14.

ENERGY MARKETS http://quotes.ino.com/exchanges/category.html?c=energy

March crude oil was lower overnight as it consolidates below the 75%
retracement level of the September-November decline crossing at 97.78.
Stochastics and the RSI are diverging and are turning neutral hinting that a
pause is this winter’s rally or short-term top might be forming. If March
renews the rally off November’s low, the 87% retracement level of the
September-November decline crossing at 99.78 is the next upside target. Closes
below Monday’s low crossing at 94.97 would confirm that a short-term top has
been posted while opening the door for additional weakness near-term. First
resistance is this month’s high crossing at 98.24. Second resistance is the 87%
retracement level of the September-November decline crossing at 99.78. First
support is Monday’s low crossing at 94.97. Second support is the 38%
retracement level of the November-February rally crossing at 93.47.

March heating oil was slightly lower overnight as it extends this week’s
trading range. Stochastics and the RSI are overbought and are turning neutral
to bearish hinting that a short-term top might be in or is near. Closes below
the 20-day moving average crossing at 314.62 would confirm that a short-term
top has been posted. If March renews the rally off December’s low, last March’s
high crossing at 331.32 is the next upside target. First resistance is last
Friday’s high crossing at 325.75. Second resistance is last March’s high
crossing at 331.32. First support is the 10-day moving average crossing at
320.96. Second support is the 20-day moving average crossing at 314.62.

March unleaded gas was higher overnight as it extends this winter’s rally.
Stochastics and the RSI are overbought, diverging but are neutral to bullish
signaling that sideways to higher prices are possible near-term. If March
renews this winter’s rally, weekly resistance crossing at 334.71 is the next
upside target. Closes below the 20-day moving average crossing at 299.00 are
needed to confirm that a short-term top has been posted. First resistance is
Thursday’s high crossing at 313.86. Second resistance is weekly resistance
crossing at 334.71. First support is the 10-day moving average crossing at
304.97. Second support is the 20-day moving average crossing at 299.00.

March Henry natural gas was slightly lower overnight as it extends this
week’s decline. Stochastics and the RSI are oversold but are neutral to bearish
signaling that additional weakness is still possible near-term. If March
extends the decline off January’s high, January’s low crossing at 3.100 is the
next downside target. Closes above the 20-day moving average crossing at 3.348
would confirm that a short-term low has been posted. First resistance is the
20-day moving average crossing at 3.348. Second resistance is last Wednesday’s
high crossing at 3.459. First support is the overnight low crossing at 3.125.
Second support is January’s low crossing at 3.100.

CURRENCIES http://quotes.ino.com/exchanges/category.html?c=currencies

The March Dollar was higher overnight as it extends Thursday’s breakout
above the November-January downtrend line. Stochastics and the RSI are
overbought but are neutral to bullish signaling that additional short-term
gains are possible. If March extends this month’s rally, January’s high
crossing at 80.99 is the next upside target. Closes below the 20-day moving
average crossing at 79.91 are needed to confirm that a short-term top has been
posted. First resistance is Thursday’s high crossing at 80.71. Second
resistance is January’s high crossing at 80.99. First support is the 20-day
moving average crossing at 79.91. Second support is this month’s low crossing
at 78.91.

The March Euro was lower overnight as it extends this month’s decline.
Stochastics and the RSI are bearish signaling that additional weakness is
possible near-term. If March extends this month’s decline, the November-January
uptrend line crossing near 132.74 is the next downside target. Closes below
this uptrend line would confirm an intermediate trend change while opening the
door for additional weakness near-term. Closes above the 20-day moving average
crossing at 134.48 would temper the near-term bearish outlook. First resistance
is the 20-day moving average crossing at 134.48. Second resistance is this
month’s high crossing at 137.15. First support is the overnight low crossing at
133.13. Second support is the November-January uptrend line crossing near
132.74.

The March British Pound was slightly higher due to short covering overnight
as it consolidates some of this winter’s decline. Stochastics and the RSI are
oversold but remain bearish signaling that additional weakness is possible
near-term. If March extends the decline off January’s high, last May’s low
crossing at 1.5360 is the next downside target. Closes above the 20-day moving
average crossing at 1.5716 are needed to confirm that a short-term low has been
posted. First resistance is the 10-day moving average crossing at 1.5640.
Second resistance is the 20-day moving average crossing at 1.5716. First
support is the overnight low crossing at 1.5459. Second support is last May’s
low crossing at 1.5360.

The March Swiss Franc was lower overnight as it extends Thursday’s breakout
below the 20-day moving average. Stochastics and the RSI remain bearish
signaling that sideways to lower prices are possible near-term. If March
extends this week’s decline, January’s low crossing at .10657 is the next
downside target. Closes above the 10-day moving average crossing at .10919
would confirm that a short-term low has been posted. First resistance is the
10-day moving average crossing at .10919. Second resistance is this month’s
high crossing at .11080. First support is Thursday’s low crossing at .10818.
Second support is January’s low crossing at .10657.

The March Canadian Dollar was slightly lower overnight. Stochastics and the
RSI are turning neutral to bullish hinting that a short-term low might be in or
is near. Closes above the 20-day moving average crossing at 99.88 are needed to
confirm that a short-term low has been posted. If March renews the decline off
January’s high, the 62% retracement level of 2012′s rally crossing at 98.35 is
the next downside target. First resistance is the 20-day moving average
crossing at 99.88. Second resistance is the reaction high crossing at 100.85.
First support is January’s low crossing at 98.89. Second support is the 62%
retracement level of 2012′s rally crossing at 98.35.

The March Japanese Yen was higher overnight as it extends the trading range
of the past eight days. Stochastics and the RSI are turning bullish hinting
that a short-term low might be in or is near. Closes above the 20-day moving
average crossing at .10894 are needed to confirm that a short-term low has been
posted. If March extends the decline off September’s high, monthly support
crossing at .10532 is the next downside target. First resistance is the
overnight high crossing at .10846. Second resistance is the 20-day moving
average crossing at .10894. First support is Monday’s low crossing at .10588.
Second support is monthly support crossing at .10532.

PRECIOUS METALS http://quotes.ino.com/exchanges/?c=metals

April gold was lower overnight and trading below January’s low crossing at
1627.90. The low-range close sets the stage for a steady to 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 April extends the decline off January’s high, the 75% retracement
level of last year’s rally crossing at 1604.40 is the next downside target.
Closes above the 20-day moving average crossing at 1665.40 would confirm that a
short-term low has been posted. First resistance is the 10-day moving average
crossing at 1657.30. Second resistance is the 20-day moving average crossing at
1665.40. First support is the overnight low crossing at 1625.00. Second support
is the 75% retracement level of last year’s rally crossing at 1604.40.

March silver was lower overnight as it extends this month’s decline.
Stochastics and the RSI are bearish signaling that sideways to lower prices are
possible near-term. If March extends this month’s decline, January’s low
crossing at 29.240 is the next downside target. Closes above the 20-day moving
average crossing at 31.427 are needed to confirm that a short-term low has been
posted. First resistance is the 20-day moving average crossing at 31.427.
Second resistance is January’s high crossing at 32.365. First support is the
overnight low crossing at 30.135. Second support is January’s low crossing at
29.240.

March copper was slightly higher in quiet trading overnight. Stochastics and
the RSI are neutral to bearish hinting that a short-term top might be in or is
near. Closes below the 20-day moving average crossing at 372.34 are needed to
confirm that a short-term top has been posted. If March renews this winter’s
rally, October’s high crossing at 382.90 is the next upside target. First
resistance is this month’s high crossing at 379.25. Second resistance is
October’s high crossing at 382.90. First support is the 20-day moving average
crossing at 372.34. Second support is the reaction low crossing at 364.05.

FOOD & FIBER http://quotes.ino.com/exchanges/category.html?c=food

March coffee closed lower on Thursday as it extends the decline off
January’s high. The low-range close set the stage for a steady to lower opening
on Friday. Stochastics and the RSI are oversold but remain neutral to bearish
signaling that sideways to lower prices are possible near-term. If March
extends the decline off January’s high, weekly support crossing at 13.20 is the
next downside target. Closes above the 20-day moving average crossing at 14.58
would confirm that a short-term low has been posted.

March cocoa closed lower on Thursday and the low-range close sets the stage
for a steady to lower opening on Friday. Stochastics and the RSI are diverging
but bearish signaling that sideways to lower prices are possible near-term. If
March extends the decline off September’s high, last June’s low crossing at
20.65 is the next downside target. Closes above the 20-day moving average
crossing at 22.04 would confirm that a short-term low has been posted.

March sugar closed lower on Thursday and the mid-range close set the stage
for a steady to lower opening on Friday. Stochastics and the RSI are neutral to
bearish signaling that sideways to lower prices are possible near-term. If
March extends this year’s decline, the 75% retracement level of the 2010-2011
rally crossing at 17.38 is the next downside target. Closes above the 20-day
moving average crossing at 18.41 would confirm that a short-term low has been
posted.

March cotton closed higher on Thursday but remains below the 20-day moving
average crossing at 81.40 confirming that a short-term top has been posted. The
mid-range close sets the stage for a steady to lower opening on Friday.
Stochastics and the RSI are bearish signaling that sideways to lower prices are
possible near-term. If March extends Wednesday’s decline, minor support
crossing at 78.97 is the next downside target. If March renews this winter’s
rally, the 62% retracement level of the 2012-decline crossing at 86.50 is the
next upside target.
——————————

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GRAINS http://quotes.ino.com/exchanges/category.html?c=grains

March corn was higher due to short covering overnight as it consolidated
some of this month’s decline. The high-range close sets the stage for a steady
to higher opening when the day session begins trading. Stochastics and the RSI
are oversold and are turning neutral to bullish hinting that all of the current
bad information has likely been factored into prices at this time. If March
extends this month’s decline, the reaction low crossing at 6.86 1/4 is the next
downside target. Closes above the 20-day moving average crossing at 7.19 1/2
would confirm that a short-term low has been posted. First resistance is the
20-day moving average crossing at 7.19 1/2. Second resistance is this month’s
high crossing at 7.46 1/4. First support is Wednesday’s low crossing at 6.87
1/4. Second support is the reaction low crossing at 6.86 1/4.

March wheat was higher due to short covering overnight as it rebounds off
the 75% retracement level of 2012′s rally crossing at 7.25 3/4. The high-range
close sets the stage for a steady to higher opening when the day session begins
trading. Stochastics and the RSI are oversold and are turning neutral to
bullish hinting that a low might be in or is near. Closes above the 20-day
moving average crossing at 7.62 1/2 are needed to confirm that a low has been
posted. If March extends this month’s decline, the 87% retracement level of
2012′s rally crossing at 6.88 3/4 is the next downside target. First resistance
is the 10-day moving average crossing at 7.47 1/4. Second resistance is the
20-day moving average crossing at 7.62 1/2. First support is the 75%
retracement level of 2012′s rally crossing at 7.25 3/4. Second support is the
87% retracement level of 2012′s rally crossing at 6.88 3/4.

March Kansas City Wheat closed down 5 1/4-cents at 7.75.

March Kansas City wheat closed lower on Thursday as it extended the decline
off November’s high. The high-range close sets the stage for a steady to higher
opening on Friday. Stochastics and the RSI are oversold but remain neutral to
bearish signaling that sideways to lower prices are possible near-term. If
March extends the decline off January’s high, the 75% retracement level of
2012′s rally crossing at 7.38 3/4 is the next downside target. Closes above the
20-day moving average crossing at 8.15 1/2 would confirm that a short-term low
has been posted. First resistance is the 10-day moving average crossing at 7.97
3/4. Second resistance is the 20-day moving average crossing at 8.15 1/2. First
support is today’s low crossing at 7.72 3/4. Second support is the 75%
retracement level of 2012′s rally crossing at 7.38 3/4.

March Minneapolis wheat was higher overnight as it consolidates some of this
month’s decline. The high-range close sets the stage for a steady to higher
opening when the day session begins to trade. Stochastics and the RSI are
oversold and are turning neutral to bullish hinting that a short-term low might
be in or is near. Closes above the 20-day moving average crossing at 8.47 1/4
are needed to confirm that a short-term low has been posted. If March extends
this month’s decline, the 87% retracement level of the 2012-rally crossing at
7.79 is the next downside target. First resistance is the 10-day moving average
crossing at 8.31 1/2. Second resistance is the 20-day moving average crossing
at 8.47 1/4. First support is Wednesday’s low crossing at 8.09. Second support
is the 87% retracement level of the 2012-rally crossing at 7.79.

SOYBEAN COMPLEX

March soybeans were higher due to short covering overnight as it
consolidates some of this month’s decline. The high-range close sets the stage
for steady to higher prices when the day session begins trading later this
morning. Stochastics and the RSI are oversold but remain neutral to bearish
signaling that sideways to lower prices are possible near-term. If March
extends this month’s decline, January’s low crossing at 13.51 1/2 is the next
downside target. Closes above the 20-day moving average crossing at 14.52 are
needed to confirm that a short-term low has been posted. First resistance is
the 20-day moving average crossing at 14.52. Second resistance is this month’s
high crossing at 14.98. First support Wednesday’s low crossing at 14.04 1/2.
Second support is January’s low crossing at 13.51 1/2.

March soybean meal was higher due to short covering overnight as it
consolidates some of this month’s decline. The high-range close sets the stage
for a steady to higher 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 March extends the aforementioned
decline, January’s low crossing at 392.40 is the next downside target. Closes
above the 10-day moving average crossing at 421.70 would confirm a short-term
low has been posted. First resistance is the 10-day moving average crossing at
421.70. Second resistance is this month’s high crossing at 441.20. First
support is Thursday’s low crossing at 402.70. Second support is January’s low
crossing at 392.40.

March soybean oil was higher overnight as it extends this week’s short
covering rally. The high-range close sets the stage for a steady to higher
opening when the day session begins trading. Stochastics and the RSI are
turning bullish signaling that a low might be in or is near. Closes above the
20-day moving average crossing at 52.08 would confirm that a short-term low has
been posted. Closes below the December-January uptrend line would open the door
for a possible test of the reaction low crossing at 49.12 later this month.
First resistance is the 20-day moving average crossing at 52.08. Second
resistance is this month’s high crossing at 53.57. First support is the
December-January uptrend line crossing near 51.20. Second support is the
reaction low crossing at 49.12.

LIVESTOCK http://quotes.ino.com/exchanges/?c=livestock

April hogs closed down $1.47 at $84.32.

April hogs gapped down and closed lower on Thursday extending the decline
off November’s high. The low-range close sets the stage for a steady to lower
opening when Friday’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 April extends this month’s decline, the 75%
retracement level of the May-November rally crossing at 82.80 is the next
downside target. Closes above the 20-day moving average crossing at 87.72 are
needed to confirm that a short-term low has been posted. First resistance is
today’s gap crossing at 85.75. Second resistance is the 10-day moving average
crossing at 86.62. First support is today’s low crossing at 84.05. Second
resistance is the 75% retracement level of the May-November rally crossing at
82.80.

April cattle closed up $0.37 at 129.77.

April cattle posted a key reversal up on Thursday as it consolidated some of
this year’s decline. The high-range close sets the stage for a steady to higher
opening when Friday’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. Closes above the 20-day moving average crossing
at 131.20 are needed to confirm that a short-term low has been posted. If April
extends this month’s decline, last June’s low crossing at 127.55 is the next
downside target. First resistance is the 20-day moving average crossing at
131.20. Second resistance is the reaction high crossing at 133.65. First
support is today’s low crossing at 127.62. Second support is last June’s low
crossing at 127.55.

March feeder cattle closed down $1.32 at $142.67.

March Feeder cattle posted a key reversal up on Thursday as it consolidates
some of this year’s decline. The high-range close sets the stage for a steady
to higher opening when Friday’s night session begins trading. Stochastics and
the RSI are diverging and are turning neutral to bullish signaling that
sideways to higher prices are possible near-term. Closes above the 20-day
moving average crossing at 146.90 are needed to confirm that a short-term low
has been posted. If March extends this year’s decline, weekly support crossing
at 138.48 is the next downside target. First resistance is the 10-day moving
average crossing at 145.84. Second resistance is the 20-day moving average
crossing at 146.90. First support is today’s low crossing at 139.50. Second
support is weekly support crossing at 138.48.

_____________________________________________________________________

T H A N K   Y O U
_____________________________________________________________________

Copyright 2012 INO.com. All Rights Reserved.

Key Market Reports and Commentary for Wednesday

W E D N E S D A Y   M O R N I N G   E X T R E M E   M A R K E T S
A complimentary service from INO.com ( http://www.ino.com/ )

KEY EVENTS TO WATCH FOR:
Wednesday, February 13, 2013
7:00 AM ET. MBA Weekly Mortgage Applications Survey

Market Composite Index (previous 849.8)

Market Composite Index Cur Chg (previous +3.4%)

Purchase Index (S.A.) (previous 215.8)

Purchase Index (S.A.) Cur Chg (previous +2.2%)

Refinance Index (previous 4567.6)

Refinance Index Cur Chg (previous +3.5%)

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

Import Prices (expected +0.8%; previous -0.1%)

Non-Petroleum Prices (previous +0.1%)

Petroleum Prices (previous -0.8%)

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

Overall Sales (expected +0.1%; previous +0.5%)

Sales, Ex-Auto (expected +0.2%; previous +0.3%)

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

Total Inventories (expected +0.1%; previous +0.3%)

10:30 AM ET. EIA Weekly Petroleum Status Report

Crude Oil Stocks (previous 371.69M)

Crude Oil Stocks (Net Change) (expected +2.4M; previous +2.62M)

Gasoline Stocks (previous 234.04M)

Gasoline Stocks (Net Change) (expected -0.4M; previous +1.74M)

Distillate Stocks (previous 129.58M)

Distillate Stocks (Net Change) (expected -2M; previous -1.04M)

Refinery Usage (expected 84.1%; previous 84.2%)

Total Products Supplied (previous 18.05M)

Total Products Supplied (Net Change) (previous -0.63M)

Key Events and Commentary available earlier every morning, via MarketClub (http://www.marketclub.com/)

STOCK INDEXES & MARKETS http://quotes.ino.com/exchanges/?c=indexes+

The March NASDAQ 100 was higher overnight following a two-day setback.
Stochastics and the RSI are diverging but remain neutral to bullish signaling
that sideways to higher prices are possible near-term. If March extends the
rally off the late-December low, the 87% retracement level of the
September-November decline crossing at crossing at 2804.15 is the next upside
target. Closes below the reaction low crossing at 2709.00 would confirm that a
short-term top has been posted. First resistance is Monday’s high crossing at
crossing at 2780.75. Second resistance is the 87% retracement level of the
September-November decline crossing at 2804.15. First support is the reaction
low crossing at 2709.00. Second support is the January 2nd gap crossing at
2665.00.

The March S&P 500 index was slightly higher overnight as it extends the
rally off November’s low. 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, weekly resistance
crossing at 1526.50 is the next upside target. Closes below the 20-day moving
average crossing at 1497.81 would confirm that a short-term top has been
posted. First resistance is the overnight high crossing at 1518.80. Second
resistance is weekly resistance crossing at 1526.50. First support is the
20-day moving average crossing at 1497.81. Second support is the reaction low
crossing at 1457.00.

______________________________

_______________________________________

INTEREST RATES http://quotes.ino.com/exchanges/?c=interest

March T-bonds was lower overnight as it extends this week’s decline.
Stochastics and the RSI are turning bearish again signaling that sideways to
lower prices are possible near-term. If March renews this winter’s decline,
weekly support crossing at 139-14 is the next downside target. Closes above the
20-day moving average crossing at 144-04 are needed to confirm that a
short-term low has been posted. First resistance is the 20-day moving average
crossing at 144-04. Second resistance is the reaction high crossing at 146-17.
First support is last Monday’s low crossing at 142-05. Second support is weekly
support crossing at 139-14.

ENERGY MARKETS http://quotes.ino.com/exchanges/category.html?c=energy

March crude oil was higher overnight as it extends the rally off Monday’s
low. Stochastics and the RSI are turning bullish signaling that sideways to
higher prices are possible near-term. If March renews the rally off November’s
low, the 87% retracement level of the September-November decline crossing at
99.78 is the next upside target. Closes below Monday’s low crossing at 94.97
would renew this month’s decline. First resistance is this month’s high
crossing at 98.24. Second resistance is the 87% retracement level of the
September-November decline crossing at 99.78. First support is Monday’s low
crossing at 94.97. Second support is the 38% retracement level of the
November-February rally crossing at 93.47.

March heating oil was slightly lower overnight as it consolidates some of
the rally off December’s low. Stochastics and the RSI are overbought but remain
neutral to bullish signaling that sideways to higher prices are possible
near-term. If March extends the rally off December’s low, last March’s high
crossing at 331.32 is the next upside target. Closes below the 20-day moving
average crossing at 312.54 would confirm that a short-term top has been posted.
First resistance is last Friday’s high crossing at 325.75. Second resistance is
last March’s high crossing at 331.32. First support is the 10-day moving
average crossing at 319.52. Second support is the 20-day moving average
crossing at 312.54.

March unleaded gas was higher overnight while extending the trading range of
the past three-weeks. Stochastics and the RSI are overbought, diverging but are
neutral to bullish signaling that sideways to higher prices are possible
near-term. If March renews this winter’s rally, weekly resistance crossing at
308.23 is the next upside target. Closes below the 20-day moving average
crossing at 295.51 are needed to confirm that a short-term top has been posted.
First resistance is last Thursday’s high crossing at 306.98. Second resistance
is weekly resistance crossing at 308.23. First support is the reaction low
crossing at 298.25. Second support is the 20-day moving average crossing at
295.51.

March Henry natural gas was higher due to short covering overnight as it
consolidates some of the decline off last Wednesday’s high. Stochastics and the
RSI are oversold but remain neutral to bearish signaling that sideways to lower
prices are possible near-term. If March extends the decline off January’s high,
January’s low crossing at 3.100 is the next downside target. Closes above the
20-day moving average crossing at 3.376 would confirm that a short-term low has
been posted. First resistance is the 20-day moving average crossing at 3.376.
Second resistance is last Wednesday’s high crossing at 3.459. First support is
Monday’s low crossing at 3.207. Second support is January’s low crossing at
3.100.

CURRENCIES http://quotes.ino.com/exchanges/category.html?c=currencies

The March Dollar was lower overnight following Tuesday’s spike above the
November-January downtrend line crossing near 80.37. Stochastics and the RSI
are overbought and are turning neutral hinting that a short-term top might be
in or is near. Closes below the 10-day moving average crossing at 79.83 are
needed to confirm that a short-term top has been posted. Closes above the
aforementioned downtrend line would open the door for a possible test of
January’s high crossing at 80.99. First resistance is Tuesday’s high crossing
at 80.59. Second resistance is January’s high crossing at 80.99. First support
is the 10-day moving average crossing at 79.83. Second support is this month’s
low crossing at 78.91.

The March Euro was higher due to short covering overnight as it consolidates
some of last week’s decline. Stochastics and the RSI are turning neutral
hinting that a short-term low might be in or is near. Closes above the 10-day
moving average crossing at 135.06 would temper the near-term bearish outlook.
Until March closes below the November-January uptrend line crossing near
132.62, the uptrend off last July’s low will remain intact. If March extends
last week’s decline, the aforementioned uptrend line crossing near 132.62 is
the next downside target. First resistance is the 10-day moving average
crossing at 134.99. Second resistance is this month’s high crossing at 137.15.
First support is last Friday’s low crossing at 133.56. Second support is the
November-January uptrend line crossing near 132.62.

The March British Pound was lower overnight and has broken out below the 75%
retracement level of the May-January rally crossing at 1.5598 as it extends
this winter’s decline. Stochastics and the RSI are diverging and are turning
bearish signaling that additional weakness is possible near-term. If March
extends the decline off January’s high, the 87% retracement level of the
May-January rally crossing at 1.5478 is the next downside target. Closes above
the 20-day moving average crossing at 1.5768 are needed to confirm that a
short-term low has been posted. First resistance is the 20-day moving average
crossing at 1.5768. Second resistance is the reaction high crossing at 1.5874.
First support is the overnight low crossing at 1.5530. Second support is the
87% retracement level of the May-January rally crossing at 1.5478.

The March Swiss Franc was slightly higher as it extends the trading range of
the past four days above the 20-day moving average. Stochastics and the RSI
remain bearish signaling that sideways to lower prices are possible near-term.
Closes below the 20-day moving average crossing at .10873 would confirm that a
short-term top has been posted while opening the door for additional weakness
near-term. If March renews this winter’s rally, monthly resistance crossing at
.11119 is the next upside target. First resistance is this month’s high
crossing at .11080. Second resistance is monthly resistance crossing at .11119.
First support is the 20-day moving average crossing at .10873. Second support
is January’s low crossing at .10657.

The March Canadian Dollar was mostly steady overnight. Stochastics and the
RSI are neutral to bearish signaling that sideways to lower prices are possible
near-term. If March renews the decline off January’s high, the 62% retracement
level of 2012′s rally crossing at 98.35 is the next downside target. Closes
above the 20-day moving average crossing at 100.03 are needed to confirm that a
short-term low has been posted. First resistance is the 20-day moving average
crossing at 100.03. Second resistance is the reaction high crossing at 100.85.
First support is January’s low crossing at 98.89. Second support is the 62%
retracement level of 2012′s rally crossing at 98.35.

The March Japanese Yen was lower overnight as it extends this winter’s
decline. Stochastics and the RSI are oversold but remain neutral to bearish
signaling that additional weakness is possible near-term. If March extends the
decline off September’s high, monthly support crossing at .10532 is the next
downside target. Closes above the 20-day moving average crossing at .10936 are
needed to confirm that a short-term low has been posted. First resistance is
the 10-day moving average crossing at .10752. Second resistance is the 20-day
moving average crossing at .10936. First support is Monday’s low crossing at
.10588. Second support is monthly support crossing at .10532.

PRECIOUS METALS http://quotes.ino.com/exchanges/?c=metals

April gold was lower overnight as it extends the decline off January’s high.
The low-range close sets the stage for a steady to lower opening when the day
session begins trading. Stochastics and the RSI are bearish signaling that
sideways to lower prices are possible near-term. If April extends the decline
off January’s high, January’s low crossing at 1627.90 is the next downside
target. Closes above the 20-day moving average crossing at 1671.30 would
confirm that a short-term low has been posted. First resistance is the 20-day
moving average crossing at 1671.30. Second resistance is the October-November
downtrend line crossing near 1688.50. First support is Tuesday’s low crossing
at 1639.50. Second support is January’s low crossing at 1627.90.

March silver was steady to slightly higher overnight as it consolidates some
of Monday’s decline. Stochastics and the RSI are bearish signaling that
sideways to lower prices are possible near-term. If March extends Monday’s
decline, January’s low crossing at 29.240 is the next downside target. Closes
above the 20-day moving average crossing at 31.577 are needed to confirm that a
short-term low has been posted. First resistance is the 20-day moving average
crossing at 31.577. Second resistance is January’s high crossing at 32.365.
First support is Tuesday’s low crossing at 30.580. Second support is January’s
low crossing at 29.240.

March copper was higher overnight as it consolidates some of this month’s
decline. Stochastics and the RSI are neutral to bearish hinting that a
short-term top might be in or is near. Closes below the 20-day moving average
crossing at 371.38 are needed to confirm that a short-term top has been posted.
If March renews this winter’s rally, October’s high crossing at 382.90 is the
next upside target. First resistance is this month’s high crossing at 379.25.
Second resistance is October’s high crossing at 382.90. First support is the
20-day moving average crossing at 371.38. Second support is the reaction low
crossing at 364.05.

FOOD & FIBER http://quotes.ino.com/exchanges/category.html?c=food

March coffee closed unchanged on Tuesday as it consolidates some of the
decline off January’s high. The mid-range close set the stage for a steady
opening on Wednesday. Stochastics and the RSI are oversold but remain neutral
to bearish signaling that sideways to lower prices are possible near-term. If
March extends the decline off January’s high, the contract low crossing at
13.80 is the next downside target. Closes above the 20-day moving average
crossing at 14.72 would confirm that a short-term low has been posted.

March cocoa closed higher due to short covering on Tuesday but the mid-range
close sets the stage for a steady opening on Wednesday. Stochastics and the RSI
are turning bearish signaling that sideways to lower prices are possible
near-term. If March renews the decline off September’s high, the 87%
retracement level of the June-September rally crossing at 21.45 is the next
downside target. If March renews the rally off January’s low, January’s high
crossing at 23.13 is the next upside target.

March sugar closed lower on Tuesday and the low-range close set the stage
for a steady to lower opening on Wednesday. Stochastics and the RSI are bearish
signaling that sideways to lower prices are possible near-term. If March
extends this year’s decline, the 75% retracement level of the 2010-2011 rally
crossing at 17.38 is the next downside target. Closes above the 20-day moving
average crossing at 18.45 would confirm that a short-term low has been posted.

March cotton closed lower on Tuesday and the low-range close sets the stage
for a steady to lower opening on Wednesday. Stochastics and the RSI are neutral
signaling that sideways trading is possible near-term. If March renews this
winter’s rally, the 62% retracement level of the 2012-decline crossing at 86.50
is the next upside target. Closes below the 20-day moving average crossing at
80.98 are needed to confirm that a short-term top has been posted.
——————————

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Free Video Seminar – “Avoiding Common Trading Pitfalls”

http://broadcast.ino.com/redirect/?linkid=2037

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GRAINS http://quotes.ino.com/exchanges/category.html?c=grains

March corn was lower in overnight trading as it extends this month’s
decline. Heightened concerns over demand destruction and a large South American
corn crop, which is expected to hit the market at the end of the month,
continues to pressure old crop prices. The low-range close sets the stage for a
steady to 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 March extends this month’s decline, the
reaction low crossing at 6.86 1/4 is the next downside target. Closes above the
20-day moving average crossing at 7.22 1/4 would confirm that a short-term low
has been posted. First resistance is the 20-day moving average crossing at 7.22
1/4. Second resistance is this month’s high crossing at 7.46 1/4. First support
is the overnight low crossing at 6.87 1/4. Second support is the reaction low
crossing at 6.86 1/4.

March wheat was lower overnight as it extends this month’s decline. Demand
for U.S. wheat continues to run below trade expectations and current price
levels have not been enough to trigger increased export demand. Poor weather in
the Plains has not been enough to support prices. The trade is waiting for
wheat to break dormancy to see whether or not conditions have not improved
before pushing prices higher. If rains begin to come as spring moves closer, a
larger winter wheat crop could be possible, pushing prices even lower. The
low-range close sets the stage for a steady to 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
March extends this month’s decline, the 87% retracement level of 2012′s rally
crossing at 6.88 3/4 is the next downside target. Closes above the 20-day
moving average crossing at 7.66 3/4 are needed to confirm that a low has been
posted. First resistance is the 10-day moving average crossing at 7.53 3/4.
Second resistance is the 20-day moving average crossing at 7.66 3/4. First
support is the 75% retracement level of 2012′s rally crossing at 7.25 3/4.
Second support is the 87% retracement level of 2012′s rally crossing at 6.88
3/4.

March Kansas City Wheat closed down 10 3/4-cents at 7.78.

March Kansas City wheat closed lower on Tuesday extending the decline off
November’s high. The low-range close sets the stage for a steady to lower
opening on Wednesday. Stochastics and the RSI are oversold but remain neutral
to bearish signaling that sideways to lower prices are possible near-term. If
March extends the decline off January’s high, the 75% retracement level of
2012′s rally crossing at 7.38 3/4 is the next downside target. Closes above the
20-day moving average crossing at 8.21 3/4 would confirm that a short-term low
has been posted. First resistance is the 20-day moving average crossing at 8.21
3/4. Second resistance is January’s high crossing at 8.47. First support is
today’s low crossing at 7.78. Second support is the 75% retracement level of
2012′s rally crossing at 7.38 3/4.

March Minneapolis wheat was lower overnight as it extends this winter’s
decline. The low-range close sets the stage for a steady to lower opening when
the day session begins to trade. Stochastics and the RSI are oversold but
remain neutral to bearish signaling that sideways to lower prices are possible
near-term. If March extends this month’s decline, the 87% retracement level of
the 2012-rally crossing at 7.79 is the next downside target. Closes above the
20-day moving average crossing at 8.51 3/4 are needed to confirm that a
short-term low has been posted. First resistance is the 10-day moving average
crossing at 8.38 1/4. Second resistance is the 20-day moving average crossing
at 8.51 3/4. First support is the overnight low crossing at 8.11. Second
support is the 87% retracement level of the 2012-rally crossing at 7.79.

SOYBEAN COMPLEX

March soybeans were lower overnight as it extends this month’s decline.
Monday’s export inspections numbers indicated that shipments appear to be
slowing to seasonal levels as the Chinese New Year begins. Lower shipments and
a large South American crop will likely put pressure on the market for the
foreseeable future. The low-range close sets the stage for steady to lower
prices when the day session begins trading later this morning. Stochastics and
the RSI are bearish signaling that sideways to lower prices are possible
near-term. If March extends this month’s decline, January’s low crossing at
13.51 1/2 is the next downside target. Closes above the 10-day moving average
crossing at 14.61 1/2 would confirm that a short-term low has been posted.
First resistance is the 20-day moving average crossing at 14.52 3/4. Second
resistance is the 10-day moving average crossing at 14.61 1/2. First support
the overnight low crossing at 14.04 1/2. Second support is January’s low
crossing at 13.51 1/2.

March soybean meal was lower overnight as it extends this month’s decline.
The low-range close sets the stage for a steady to lower opening when the day
session begins trading. Stochastics and the RSI are bearish signaling that
sideways to lower prices are possible near-term. If March extends the
aforementioned decline, January’s low crossing at 392.40 is the next downside
target. Closes above the 10-day moving average crossing at 425.50 would confirm
a short-term low has been posted. First resistance is the 20-day moving average
crossing at 422.40. Second resistance is the 10-day moving average crossing at
425.50. First support is the overnight low crossing at 406.00. Second support
is January’s low crossing at 392.40.

March soybean oil was lower overnight and below the December-January uptrend
line crossing near 51.01. The low-range close sets the stage for a steady to
lower opening when the day session begins trading. Stochastics and the RSI
remain bearish signaling that sideways to lower prices are possible near-term.
Closes below the aforementioned uptrend line would open the door for a possible
test of the reaction low crossing at 49.12 later this month. Closes above the
10-day moving average crossing at 52.07 would confirm that a short-term low has
been posted. First resistance is the 20-day moving average crossing at 52.00.
Second resistance is the 10-day moving average crossing at 52.07. First support
is the December-January uptrend line crossing near 51.01. Second support is the
reaction low crossing at 49.12.

LIVESTOCK http://quotes.ino.com/exchanges/?c=livestock

April hogs closed down $0.37 at $86.00.

April hogs closed lower on Tuesday extending the decline off November’s
high. The high-range close sets the stage for a steady to higher opening when
Wednesday’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 April extends this month’s decline, the 62% retracement
level of the May-November rally crossing at 84.56 is the next downside target.
Closes above the 20-day moving average crossing at 87.97 are needed to confirm
that a short-term low has been posted. First resistance is last Wednesday’s gap
crossing at 87.55. Second resistance is the 20-day moving average crossing at
87.97. First support is today’s low crossing at 85.50. Second resistance is the
62% retracement level of the May-November rally crossing at 84.56.

April cattle closed down $0.40 at 129.95.

April cattle closed lower on Monday as it extends this year’s decline. The
high-range close sets the stage for a steady to higher opening when Wednesday’s
night session begins trading. Stochastics and the RSI are bearish signaling
that sideways to lower prices are possible near-term. If April extends this
month’s decline, last June’s low crossing at 127.55 is the next downside
target. Closes above the 20-day moving average crossing at 131.60 are needed to
confirm that a short-term low has been posted. First resistance is the 20-day
moving average crossing at 131.60. Second resistance is the reaction high
crossing at 133.65. First support is today’s low crossing at 128.30. Second
support is last June’s low crossing at 127.55.

March feeder cattle closed down $1.55 at $143.25.

March Feeder cattle closed lower on Tuesday as it extends this year’s
decline. The high-range close sets the stage for a steady to higher opening
when Wednesday’s night session begins trading. Stochastics and the RSI are
diverging but remain bearish signaling that sideways to lower prices are
possible near-term. If March extends this year’s decline, weekly support
crossing at 141.13 is the next downside target. Closes above the 20-day moving
average crossing at 147.63 are needed to confirm that a short-term low has been
posted. First resistance is the 20-day moving average crossing at 147.63.
Second resistance is the 20-day moving average crossing at 147.63. First
support is today’s low crossing at 141.80. Second support is weekly support
crossing at 141.13.

_____________________________________________________________________

T H A N K   Y O U
_____________________________________________________________________

Copyright 2012 INO.com. All Rights Reserved.

Key Market Reports and Commentary for Tuesday, 12/02/2013

T U E S D A Y   M O R N I N G   E X T R E M E   M A R K E T S
A complimentary service from INO.com ( http://www.ino.com/ )

KEY EVENTS TO WATCH FOR:
Tuesday, February 12, 2013
7:30 AM ET. Jan NFIB Index of Small Business Optimism

Small Business Optimism Index (previous 88)

7:45 AM ET. ICSC-Goldman Sachs Chain Store Sales Index

Chain Store Sales Index – WoW (previous +2.4%)

Chain Store Sales Index – YoY (previous +2.6%)

8:55 AM ET. Johnson Redbook Retail Sales Index

MoM % Change (previous -0.6%)

12MonChgPct (previous +1.8%)

52WkChgPct (previous +1.5%)

10:00 AM ET. Dec Job Openings & Labor Turnover Survey

2:00 PM ET. Jan Monthly Treasury Statement of Receipts & Outlays of the U.S. Govt.

4:30 PM ET. API Weekly Statistical Bulletin

Crude Stocks (Net Change) (previous +3.63M)

Gasoline Stocks (Net Change) (previous +1.56M)

Distillate Stocks (Net Change) (previous -1.45M)

Refinery Runs (previous 85.2%)

Key Events and Commentary available earlier every morning, via MarketClub (http://www.marketclub.com/)

STOCK INDEXES & MARKETS http://quotes.ino.com/exchanges/?c=indexes+

The March NASDAQ 100 was lower overnight as it consolidates some of the
rally off November’s low. Stochastics and the RSI are bullish signaling that
sideways to higher prices are possible near-term. If March extends the rally
off the late-December low, the 87% retracement level of the September-November
decline crossing at crossing at 2804.15 is the next upside target. Closes below
the reaction low crossing at 2709.00 would confirm that a short-term top has
been posted. First resistance is Monday’s high crossing at crossing at 2780.75.
Second resistance is the 87% retracement level of the September-November
decline crossing at 2804.15. First support is the reaction low crossing at
2709.00. Second support is the January 2nd gap crossing at 2665.00.

The March S&P 500 index was slightly lower overnight as it consolidates some
of the rally off November’s low. Stochastics and the RSI are overbought,
diverging but remain neutral to bullish signaling that sideways to higher
prices are possible near-term. If March extends the rally off November’s low,
weekly resistance crossing at 1526.50 is the next upside target. Closes below
the 20-day moving average crossing at 1494.98 would confirm that a short-term
top has been posted. First resistance is Monday’s high crossing at 1516.80.
Second resistance is weekly resistance crossing at 1526.50. First support is
the 20-day moving average crossing at 1494.98. Second support is the reaction
low crossing at 1457.00.

______________________________

_______________________________________

INTEREST RATES http://quotes.ino.com/exchanges/?c=interest

March T-bonds was lower overnight as it extends the trading range of the
past three-weeks. Stochastics and the RSI are neutral to bullish hinting that a
short-term low might be in or is near. Closes above the 20-day moving average
crossing at 144-10 are needed to confirm that a short-term low has been posted.
If March renews this winter’s decline, weekly support crossing at 139-14 is the
next downside target. First resistance is the 20-day moving average crossing at
144-10. Second resistance is the reaction high crossing at 146-17. First
support is last Monday’s low crossing at 142-05. Second support is weekly
support crossing at 139-14.

ENERGY MARKETS http://quotes.ino.com/exchanges/category.html?c=energy

March crude oil was higher overnight following Monday’s key reversal up.
Stochastics and the RSI are turning neutral signaling that sideways to higher
prices are possible near-term. If March renews the rally off November’s low,
the 87% retracement level of the September-November decline crossing at 99.78
is the next upside target. If March extends this month’s decline, the 38%
retracement level of the November-February rally crossing at 93.47 is the next
downside target. First resistance is this month’s high crossing at 98.24.
Second resistance is the 87% retracement level of the September-November
decline crossing at 99.78. First support is Monday’s low crossing at 94.97.
Second support is the 38% retracement level of the November-February rally
crossing at 93.47.

March heating oil was higher overnight and remains poised to extend the
rally off December’s low. Stochastics and the RSI are overbought but remain
neutral to bullish signaling that sideways to higher prices are possible
near-term. If March extends the rally off December’s low, last March’s high
crossing at 331.32 is the next upside target. Closes below the 20-day moving
average crossing at 311.42 would confirm that a short-term top has been posted.
First resistance is last Friday’s high crossing at 325.75. Second resistance is
last March’s high crossing at 331.32. First support is the 10-day moving
average crossing at 318.33. Second support is the 20-day moving average
crossing at 311.42.

March unleaded gas was higher overnight while extending the trading range of
the past two-weeks. Stochastics and the RSI are overbought, diverging but are
neutral to bullish signaling that sideways to higher prices are possible
near-term. If March extends this winter’s rally, weekly resistance crossing at
308.23 is the next upside target. Closes below the 20-day moving average
crossing at 293.79 are needed to confirm that a short-term top has been posted.
First resistance is last Thursday’s high crossing at 306.98. Second resistance
is weekly resistance crossing at 308.23. First support is the reaction low
crossing at 298.25. Second support is the 20-day moving average crossing at
293.79.

March Henry natural gas was lower overnight and remains poised to extend the
decline off last Wednesday’s high. Stochastics and the RSI are bearish
signaling that sideways to lower prices are possible near-term. If March
extends the decline off January’s high, January’s low crossing at 3.100 is the
next downside target. If March resumes the rally off the late-January low,
January’s high crossing at 3.646 is the next upside target. First resistance is
last Wednesday’s high crossing at 3.459. Second resistance is January’s high
crossing at 3.646. First support is Monday’s low crossing at 3.207. Second
support is January’s low crossing at 3.100.

CURRENCIES http://quotes.ino.com/exchanges/category.html?c=currencies

The March Dollar was lower due to profit taking overnight after spiking
above the November-January downtrend line crossing near 80.38. Stochastics and
the RSI are overbought but remain neutral to bullish signaling that sideways to
higher prices are possible near-term. Closes above the aforementioned downtrend
line would open the door for a possible test of January’s high crossing at
80.99. Closes below the 10-day moving average crossing at 79.78 are needed to
confirm that a short-term low has been posted. First resistance is the
overnight high crossing at 80.59. Second resistance is January’s high crossing
at 80.99. First support is the 10-day moving average crossing at 79.78. Second
support is this month’s low crossing at 78.91.

The March Euro was higher due to short covering overnight as it consolidates
some of last week’s decline. Stochastics and the RSI are bearish signaling that
additional weakness is possible near-term. If March extends last week’s
decline, the reaction low crossing at 132.62 is the next downside target.
Closes above the 10-day moving average crossing at 135.06 would temper the
near-term bearish outlook. First resistance is the 10-day moving average
crossing at 135.06. Second resistance is this month’s high crossing at 137.15.
First support is last Friday’s low crossing at 133.56. Second support is the
reaction low crossing at 132.62.

The March British Pound was lower overnight and tested the 75% retracement
level of the May-January rally crossing at 1.5598. Stochastics and the RSI are
diverging and are neutral to bullish hinting that a short-term low might be in
or is near. Closes above the 20-day moving average crossing at 1.5791 are
needed to confirm that a short-term low has been posted. If March extends the
decline off January’s high, the 87% retracement level of the May-January rally
crossing at 1.5478 is the next downside target. First resistance is the 20-day
moving average crossing at 1.5791. Second resistance is the reaction high
crossing at 1.5874. First support is the overnight low crossing at 1.5568.
Second support is the 87% retracement level of the May-January rally crossing
at 1.5478.

The March Swiss Franc was higher due to short covering overnight as it
consolidates some of last week’s decline. Stochastics and the RSI remain
bearish signaling that sideways to lower prices are possible near-term. Closes
below the 20-day moving average crossing at .10865 would confirm that a
short-term top has been posted. If March renews this winter’s rally, monthly
resistance crossing at .11119 is the next upside target. First resistance is
this month’s high crossing at .11080. Second resistance is monthly resistance
crossing at .11119. First support is the 20-day moving average crossing at
.10865. Second support is January’s low crossing at .10657.

The March Canadian Dollar was lower overnight as it extends the decline off
last week’s high. Stochastics and the RSI are bearish signaling that sideways
to lower prices are possible near-term. If March renews the decline off
January’s high, the 62% retracement level of 2012′s rally crossing at 98.35 is
the next downside target. Closes above the 20-day moving average crossing at
100.10 are needed to confirm that a short-term low has been posted. First
resistance is the 20-day moving average crossing at 100.10. Second resistance
is the reaction high crossing at 100.85. First support is January’s low
crossing at 98.89. Second support is the 62% retracement level of 2012′s rally
crossing at 98.35.

The March Japanese Yen was lower overnight as it extends this winter’s
decline. Stochastics and the RSI are oversold but remain neutral to bearish
signaling that additional weakness is possible near-term. If March extends the
decline off September’s high, monthly support crossing at .10532 is the next
downside target. Closes above the 20-day moving average crossing at .10962 are
needed to confirm that a short-term low has been posted. First resistance is
the 10-day moving average crossing at .10774. Second resistance is the 20-day
moving average crossing at .10962. First support is Monday’s low crossing at
.10588. Second support is monthly support crossing at .10532.

PRECIOUS METALS http://quotes.ino.com/exchanges/?c=metals

April gold was slightly lower overnight as it extends the decline off
January’s high. The high-range close sets the stage for a steady to lower
opening when the day session begins trading. Stochastics and the RSI have
turned bearish signaling that sideways to lower prices are possible near-term.
If April extends the decline off January’s high, January’s low crossing at
1627.90 is the next downside target. Closes above the 20-day moving average
crossing at 1673.20 would confirm that a short-term low has been posted. First
resistance is the 20-day moving average crossing at 1673.20. Second resistance
is the October-November downtrend line crossing near 1689.00. First support is
the overnight low crossing at 1639.50. Second support is January’s low crossing
at 1627.90.

March silver was lower overnight as it extends Monday’s decline. Stochastics
and the RSI are bearish signaling that sideways to lower prices are possible
near-term. If March extends the overnight decline, January’s low crossing at
29.240 is the next downside target. Closes above the 20-day moving average
crossing at 31.595 are needed to confirm that a short-term low has been posted.
First resistance is the 20-day moving average crossing at 31.595. Second
resistance is January’s high crossing at 32.365. First support is the overnight
low crossing at 30.580. Second support is January’s low crossing at 29.240.

March copper was higher overnight as it consolidates some of Monday’s
decline. Stochastics and the RSI are bearish hinting that a short-term top
might be in or is near. Closes below the 20-day moving average crossing at
370.71 are needed to confirm that a short-term top has been posted. If March
renews this winter’s rally, October’s high crossing at 382.90 is the next
upside target. First resistance is last Monday’s high crossing at 379.25.
Second resistance is October’s high crossing at 382.90. First support is the
20-day moving average crossing at 370.71. Second support is the reaction low
crossing at 364.05.

FOOD & FIBER http://quotes.ino.com/exchanges/category.html?c=food

March coffee closed lower on Monday as it consolidates some of the decline
off January’s high. The low-range close set the stage for a steady to lower
opening on Tuesday. Stochastics and the RSI are oversold but remain neutral to
bearish signaling that sideways to lower prices are possible near-term. If
March extends the decline off January’s high, the contract low crossing at
13.80 is the next downside target. Closes above the 20-day moving average
crossing at 14.78 would confirm that a short-term low has been posted.

March cocoa closed lower on Monday and the low-range close sets the stage
for a steady to lower opening on Tuesday. Stochastics and the RSI are turning
neutral signaling that sideways to lower prices are possible near-term. If
March renews the decline off September’s high, the 87% retracement level of the
June-September rally crossing at 21.45 is the next downside target. If March
renews last week’s rally, January’s high crossing at 23.13 is the next upside
target.

March sugar closed higher due to short covering on Monday as it consolidates
some of last week’s decline. The high-range close set the stage for a steady to
higher opening on Tuesday. Stochastics and the RSI are bearish signaling that
sideways to lower prices are possible near-term. If March extends this year’s
decline, the 75% retracement level of the 2010-2011 rally crossing at 17.38 is
the next downside target. Closes above the 20-day moving average crossing at
18.49 would confirm that a short-term low has been posted.

March cotton closed higher on Monday and the high-range close sets the stage
for a steady to higher opening on Tuesday. Stochastics and the RSI are neutral
signaling that sideways to higher prices are possible near-term. If March
renews this winter’s rally, the 62% retracement level of the 2012-decline
crossing at 86.50 is the next upside target. Closes below the 20-day moving
average crossing at 80.67 are needed to confirm that a short-term top has been
posted.
——————————

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Free Video Seminar – “Avoiding Common Trading Pitfalls”

http://broadcast.ino.com/redirect/?linkid=2037

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GRAINS http://quotes.ino.com/exchanges/category.html?c=grains

March corn was lower in overnight trading as it extends this month’s
decline. The low-range close sets the stage for a steady to lower opening when
the day session begins trading. Stochastics and the RSI are oversold but remain
bearish signaling that sideways to lower prices are possible near-term. If
March extends this month’s decline, the reaction low crossing at 6.86 1/4 is
the next downside target. Closes above the 20-day moving average crossing at
7.24 1/4 would confirm that a short-term low has been posted. First resistance
is the 20-day moving average crossing at 7.24 1/4. Second resistance is this
month’s high crossing at 7.46 1/4. First support is the overnight low crossing
at 6.93 3/4. Second support is the reaction low crossing at 6.86 1/4.

March wheat was lower overnight as it extends this month’s decline. The
low-range close sets the stage for a steady to 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
March extends this month’s decline, January’s low crossing at 7.36 1/4 is the
next downside target. Closes above the 20-day moving average crossing at 7.70
would temper the near-term bearish outlook. First resistance is January’s high
crossing at 7.99 3/4. Second resistance is the 38% retracement level of the
November-January decline crossing at 8.10 1/2. First support is the overnight
low crossing at 7.36 1/2. Second support is January’s low crossing at 7.36 1/4.

March Kansas City Wheat closed down 11-cents at 7.88 3/4.

March Kansas City wheat gapped down and closed lower on Monday renewing the
decline off November’s high. The low-range close sets the stage for a steady to
lower opening on Tuesday. Stochastics and the RSI are oversold but remain
neutral to bearish signaling that sideways to lower prices are possible
near-term. If March extends the decline off January’s high, the 62% retracement
level of 2012′s rally crossing at 7.77 1/2 is the next downside target. Closes
above the 20-day moving average crossing at 8.24 1/4 would confirm that a
short-term low has been posted. First resistance is the 20-day moving average
crossing at 8.24 1/4. Second resistance is January’s high crossing at 8.47.
First support is today’s low crossing at 7.88 3/4. Second support is the 62%
retracement level of 2012′s rally crossing at 7.77 1/2.

March Minneapolis wheat was lower overnight and has taken out January’s low
as it extends this month’s decline. The low-range close sets the stage for a
steady to lower opening when the day session begins to trade. Stochastics and
the RSI are oversold but remain neutral to bearish signaling that sideways to
lower prices are possible near-term. If March extends this month’s decline, the
75% retracement level of the 2012-rally crossing at 8.15 1/2 is the next
downside target. Closes above the 20-day moving average crossing at 8.54 3/4
are needed to confirm that a short-term low has been posted. First resistance
is the 10-day moving average crossing at 8.44 1/4. Second resistance is the
20-day moving average crossing at 8.54 3/4. First support is the overnight low
crossing at 8.23 1/2. Second support is the 75% retracement level of the
2012-rally crossing at 8.15 1/2.

SOYBEAN COMPLEX

March soybeans were higher due to short covering overnight as it
consolidates some of its losses of the past two days but remains below the
20-day moving average crossing at 14.53 3/4. The high-range close sets the
stage for steady to higher prices when the day session begins trading later
this morning. Stochastics and the RSI are bearish signaling that sideways to
lower prices are possible near-term. Monday’s close below the 20-day moving
average confirms that a short-term top has been posted while opening the door
for additional weakness near-term. Closes above the 10-day moving average
crossing at 14.70 would signal that a short-term low has been posted. First
resistance is the 10-day moving average crossing at 14.70. Second resistance is
the 38% retracement level of the September-January decline crossing at 14.95
1/4. First support the reaction low crossing at 14.15. Second support is
January’s low crossing at 13.51 1/2.

March soybean meal was slightly higher overnight as it consolidates some of
the decline off last week’s high but remains below the 20-day moving average
crossing at 422.90. The high-range close sets the stage for a steady to higher
opening when the day session begins trading. Stochastics and the RSI are
bearish signaling that sideways to lower prices are possible near-term. If
March extends the aforementioned decline, the reaction low crossing at 408.00
is the next downside target. Closes above the 10-day moving average crossing at
428.50 would confirm a short-term low has been posted. First resistance is the
10-day moving average crossing at 428.50. Second resistance is last Friday’s
high crossing at 441.20. First support is the reaction low crossing at 408.00.
Second support is January’s low crossing at 392.40.

March soybean oil was higher due to short covering overnight as it rebounds
off the December-January uptrend line crossing near 50.95. The high-range close
sets the stage for a steady to higher opening when the day session begins
trading. Stochastics and the RSI remain bearish signaling that sideways to
lower prices are possible near-term. Closes below the aforementioned uptrend
line would open the door for a possible test of the reaction low crossing at
49.12 later this month. Closes above the 10-day moving average crossing at
52.29 would confirm that a short-term low has been posted. First resistance is
the 20-day moving average crossing at 52.02. Second resistance is the 10-day
moving average crossing at 52.29. First support is the December-January uptrend
line crossing near 50.95. Second support is the reaction low crossing at 49.12.

LIVESTOCK http://quotes.ino.com/exchanges/?c=livestock

April hogs closed up $0.25 at $86.37.

April hogs closed higher on Monday as it consolidated some of the decline
off November’s high. 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 April extends this month’s decline, the 62%
retracement level of the May-November rally crossing at 84.56 is the next
downside target. Closes above the 20-day moving average crossing at 88.06 are
needed to confirm that a short-term low has been posted. First resistance is
last Wednesday’s gap crossing at 87.55. Second resistance is the 20-day moving
average crossing at 88.06. First support is today’s low crossing at 85.70.
Second resistance is the 62% retracement level of the May-November rally
crossing at 84.56.

April cattle closed up $0.22 at 130.35.

April cattle closed higher due to short covering on Monday as it
consolidates some of this year’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 bearish signaling that sideways to lower prices are
possible near-term. If April extends this month’s decline, last June’s low
crossing at 127.55 is the next downside target. Closes above the 20-day moving
average crossing at 131.84 are needed to confirm that a short-term low has been
posted. First resistance is the 20-day moving average crossing at 131.84.
Second resistance is the reaction high crossing at 133.65. First support is
today’s low crossing at 128.95. Second support is last June’s low crossing at
127.55.

March feeder cattle closed down $0.20 at $144.80.

March Feeder cattle closed lower on Monday as it extends this year’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
bearish signaling that sideways to lower prices are possible near-term. If
March extends this year’s decline, weekly support crossing at 142.70 is the
next downside target. Closes above the 20-day moving average crossing at 148.04
are needed to confirm that a short-term low has been posted. First resistance
is the 20-day moving average crossing at 148.04. Second resistance is the
reaction high crossing at 150.45. First support is today’s low crossing at
143.50. Second support is weekly support crossing at 142.70.

_____________________________________________________________________

T H A N K   Y O U
_____________________________________________________________________

Copyright 2012 INO.com. All Rights Reserved.

Key Market Reports and Commentary for Monday 11/02/2013

M O N D A Y   M O R N I N G   E X T R E M E   M A R K E T S
A complimentary service from INO.com ( http://www.ino.com/ )

KEY EVENTS TO WATCH FOR:
Monday, February 11, 2013

1:00 PM ET. Federal Reserve Vice Chair Janet Yellen speech at the AFL-CIO

Tuesday, February 12, 2013
7:30 AM ET. Jan NFIB Index of Small Business Optimism

Small Business Optimism Index (previous 88)

7:45 AM ET. ICSC-Goldman Sachs Chain Store Sales Index

Chain Store Sales Index – WoW (previous +2.4%)

Chain Store Sales Index – YoY (previous +2.6%)

8:55 AM ET. Johnson Redbook Retail Sales Index

MoM % Change (previous -0.6%)

12MonChgPct (previous +1.8%)

52WkChgPct (previous +1.5%)

10:00 AM ET. Dec Job Openings & Labor Turnover Survey

2:00 PM ET. Jan Monthly Treasury Statement of Receipts & Outlays of the U.S. Govt.

4:30 PM ET. API Weekly Statistical Bulletin

Crude Stocks (Net Change) (previous +3.63M)

Gasoline Stocks (Net Change) (previous +1.56M)

Distillate Stocks (Net Change) (previous -1.45M)

Refinery Runs (previous 85.2%)

Key Events and Commentary available earlier every morning, via MarketClub (http://www.marketclub.com/)

STOCK INDEXES & MARKETS http://quotes.ino.com/exchanges/?c=indexes+

The March NASDAQ 100 was higher overnight as it extends the rally off
November’s low. Stochastics and the RSI have turned bullish signaling that
sideways trading is possible near-term. If March extends the rally off the
late-December low, the 87% retracement level of the September-November decline
crossing at crossing at 2804.15 is the next upside target. Closes below the
reaction low crossing at 2698.50 are needed to confirm that a short-term top
has been posted. First resistance is the overnight high crossing at crossing at
2780.75. Second resistance is the 87% retracement level of the
September-November decline crossing at 2804.15. First support is the reaction
low crossing at 2698.50. Second support is the January 2nd gap crossing at
2665.00.

The March S&P 500 index was higher overnight as it extends the rally off
November’s low. Stochastics and the RSI are overbought, diverging but are
bullish signaling that sideways to higher prices are possible near-term. If
March extends the rally off November’s low, weekly resistance crossing at
1526.50 is the next upside target. Closes below the 20-day moving average
crossing at 1492.67 would confirm that a short-term top has been posted. First
resistance is the overnight high crossing at 1516.80. Second resistance is
weekly resistance crossing at 1526.50. First support is the 20-day moving
average crossing at 1492.67. Second support is the reaction low crossing at
1457.00.

______________________________

_______________________________________

INTEREST RATES http://quotes.ino.com/exchanges/?c=interest

March T-bonds was lower overnight as it extends the trading range of the
past three-weeks. Stochastics and the RSI are neutral to bullish hinting that a
short-term low might be in or is near. Closes above the 20-day moving average
crossing at 144-12 are needed to confirm that a short-term low has been posted.
If March renews this winter’s decline, weekly support crossing at 139-14 is the
next downside target. First resistance is the 20-day moving average crossing at
144-12. Second resistance is the reaction high crossing at 146-17. First
support is last Monday’s low crossing at 142-05. Second support is weekly
support crossing at 139-14.

ENERGY MARKETS http://quotes.ino.com/exchanges/category.html?c=energy

March crude oil was lower overnight and poised to renew the decline off this
month’s high. Stochastics and the RSI are bearish signaling that sideways to
lower prices are possible near-term. If March extends the aforementioned
decline, the 38% retracement level of the November-February rally crossing at
93.47 is the next downside target. If March renews the rally off November’s
low, the 87% retracement level of the September-November decline crossing at
99.78 is the next upside target. First resistance is this month’s high crossing
at 98.24. Second resistance is the 87% retracement level of the
September-November decline crossing at 99.78. First support is last Wednesday’s
low crossing at 95.04. Second support is the 38% retracement level of the
November-February rally crossing at 93.47.

March heating oil was lower due to profit taking overnight as it
consolidates some of the rally off December’s low. Stochastics and the RSI are
overbought but remain neutral to bullish signaling that sideways to higher
prices are possible near-term. If March extends the rally off December’s low,
last March’s high crossing at 331.32 is the next upside target. Closes below
the 20-day moving average crossing at 310.44 would confirm that a short-term
top has been posted. First resistance is last Friday’s high crossing at 325.75.
Second resistance is last March’s high crossing at 331.32. First support is the
10-day moving average crossing at 316.85. Second support is the 20-day moving
average crossing at 310.44.

March unleaded gas was lower overnight while extending the trading range of
the past two-weeks. Stochastics and the RSI are overbought and are turning
neutral to bearish hinting that a short-term top might be in or is near. Closes
below the 20-day moving average crossing at 292.49 are needed to confirm that a
short-term top has been posted. If March extends this winter’s rally, weekly
resistance crossing at 308.23 is the next upside target. First resistance is
last Thursday’s high crossing at 306.98. Second resistance is weekly resistance
crossing at 308.23. First support is the reaction low crossing at 298.25.
Second support is the 20-day moving average crossing at 292.49.

March Henry natural gas was lower overnight as it extends the decline off
last Wednesday’s high. Stochastics and the RSI are turning bearish signaling
that sideways to lower prices are possible near-term. If March renews the
decline off January’s high, January’s low crossing at 3.100 is the next
downside target. If March resumes the rally off the late-January low, January’s
high crossing at 3.646 is the next upside target. First resistance is last
Wednesday’s high crossing at 3.459. Second resistance is January’s high
crossing at 3.646. First support is the reaction low crossing at 3.232. Second
support is January’s low crossing at 3.100.

CURRENCIES http://quotes.ino.com/exchanges/category.html?c=currencies

The March Dollar was higher overnight as it extends this month’s rally.
Stochastics and the RSI are bullish signaling that sideways to higher prices
are possible near-term. If March extends the aforementioned rally, January’s
high crossing at 80.99 is the next upside target. Closes below the 10-day
moving average crossing at 79.71 are needed to confirm that a short-term low
has been posted. First resistance is the overnight high crossing at 80.42.
Second resistance is January’s high crossing at 80.99. First support is the
10-day moving average crossing at 79.71. Second support is this month’s low
crossing at 78.91.

The March Euro was higher due to short covering overnight as it consolidates
some of last week’s decline. Stochastics and the RSI are bearish signaling that
additional weakness is possible near-term. If March extends last week’s
decline, the reaction low crossing at 132.62 is the next downside target.
Closes above the 10-day moving average crossing at 135.10 would temper the
near-term bearish outlook. First resistance is the 10-day moving average
crossing at 135.10. Second resistance is this month’s high crossing at 137.15.
First support is the overnight low crossing at 133.60. Second resistance is the
reaction low crossing at 132.62.

The March British Pound was lower overnight as it consolidates some of last
week’s short covering bounce. Stochastics and the RSI are diverging and are
turning bullish hinting that a short-term low might be in or is near. Closes
above the 20-day moving average crossing at 1.5816 are needed to confirm that a
short-term low has been posted. If March renews the decline off January’s high,
the 75% retracement level of the May-January rally crossing at 1.5598 is the
next downside target. First resistance is the 20-day moving average crossing at
1.5816. Second resistance is the reaction high crossing at 1.5874. First
support is last Tuesday’s low crossing at 1.5627. Second support is the 75%
retracement level of the May-January rally crossing at 1.5598.

The March Swiss Franc was lower overnight and is poised to extend last
week’s decline. Stochastics and the RSI are bearish signaling that sideways to
lower prices are possible near-term. Closes below the 20-day moving average
crossing at .10863 would confirm that a short-term top has been posted. If
March renews this winter’s rally, monthly resistance crossing at .11119 is the
next upside target. First resistance is this month’s high crossing at .11080.
Second resistance is monthly resistance crossing at .11119. First support is
the 20-day moving average crossing at .10863. Second support is January’s low
crossing at .10657.

The March Canadian Dollar was lower overnight as it extends last Friday’s
decline. Stochastics and the RSI are turning bearish signaling that sideways to
lower prices are possible near-term. If March renews the decline off January’s
high, the 62% retracement level of 2012′s rally crossing at 98.35 is the next
downside target. Closes above the 20-day moving average crossing at 100.20 are
needed to confirm that a short-term low has been posted. First resistance is
the 20-day moving average crossing at 100.20. Second resistance is the reaction
high crossing at 100.85. First support is January’s low crossing at 98.89.
Second support is the 62% retracement level of 2012′s rally crossing at 98.35.

The March Japanese Yen was lower overnight and remains poised to extend this
winter’s decline. Stochastics and the RSI are oversold but remain neutral to
bearish signaling that additional weakness is possible near-term. If March
extends the decline off September’s high, monthly support crossing at .10532 is
the next downside target. Closes above the 20-day moving average crossing at
.10991 are needed to confirm that a short-term low has been posted. First
resistance is the 10-day moving average crossing at .10815. Second resistance
is the 20-day moving average crossing at .10991. First support is last
Wednesday’s low crossing at .10633. Second support is monthly support crossing
at .10532.

PRECIOUS METALS http://quotes.ino.com/exchanges/?c=metals

April gold was sharply lower overnight and poised to renew the decline off
January’s high. The low-range close sets the stage for a steady to lower
opening when the day session begins trading. Stochastics and the RSI are
turning bearish signaling that sideways to lower prices are possible near-term.
If April renews the decline off January’s high, January’s low crossing at
1627.90 is the next downside target. If April renews the rally off the
late-January low, the October-November downtrend line crossing near 1689.30 is
the next upside target. First resistance is the October-November downtrend line
crossing near 1689.30. Second resistance is January’s high crossing at 1699.90.
First support is the reaction low crossing at 1653.20. Second support is
January’s low crossing at 1627.90.

March silver was lower overnight and appears to be breaking to the downside
of a small symmetrical triangle, which has formed over the past month.
Stochastics and the RSI are bearish signaling that sideways to lower prices are
possible near-term. If March extends the overnight decline, the reaction low
crossing at 30.745 is the next downside target. Closes above the reaction high
crossing at 32.485 are needed to renew the rally off January’s low. First
resistance is January’s high crossing at 32.365. Second resistance is the
reaction high crossing at 32.600. First support is the reaction low crossing at
30.745. Second support is January’s low crossing at 29.240.

March copper was lower overnight as it consolidates some of last Friday’s
rally. Stochastics and the RSI are bearish hinting that a short-term top might
be in or is near. Closes below the 20-day moving average crossing at 370.38 are
needed to confirm that a short-term top has been posted. If March renews this
winter’s rally, October’s high crossing at 382.90 is the next upside target.
First resistance is last Monday’s high crossing at 379.25. Second resistance is
October’s high crossing at 382.90. First support is the 20-day moving average
crossing at 370.38. Second support is the reaction low crossing at 364.05.

FOOD & FIBER http://quotes.ino.com/exchanges/category.html?c=food

March coffee closed higher due to short covering on Friday as it
consolidates some of the decline off January’s high. The high-range close set
the stage for a steady to higher opening on Monday. Stochastics and the RSI are
oversold but remain neutral to bearish signaling that sideways to lower prices
are possible near-term. If March extends the decline off January’s high, the
contract low crossing at 13.80 is the next downside target. Closes above the
20-day moving average crossing at 14.85 would confirm that a short-term low has
been posted.

March cocoa posted an inside day with a lower close on Friday. The mid-range
close sets the stage for a steady to lower opening on Monday. Stochastics and
the RSI are bullish signaling that sideways to higher prices are possible
near-term. If March extends this week’s rally, January’s high crossing at 23.13
is the next upside target. If March renews the decline off September’s high,
the 87% retracement level of the June-September rally crossing at 21.45 is the
next downside target.

March sugar closed lower on Friday as it extends this week’s decline. The
mid-range close set the stage for a steady to lower opening on Monday.
Stochastics and the RSI are bearish signaling that sideways to lower prices are
possible near-term. If March renews this year’s decline, the 75% retracement
level of the 2010-2011 rally crossing at 17.38 is the next downside target.
Closes above the 20-day moving average crossing at 18.53 would confirm that a
short-term low has been posted.

March cotton closed higher on Friday and the high-range close sets the stage
for a steady to higher opening on Monday. Stochastics and the RSI are neutral
to bearish hinting that a short-term top might be in or is near. Closes below
the 20-day moving average crossing at 80.31 are needed to confirm that a
short-term top has been posted. If March renews this winter’s rally, the 62%
retracement level of the 2012-decline crossing at 86.50 is the next upside
target.
——————————

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GRAINS http://quotes.ino.com/exchanges/category.html?c=grains

March corn was lower in overnight trading as it extends this month’s
decline. The mid-range close sets the stage for a steady to lower opening when
the day session begins trading. Stochastics and the RSI are becoming oversold
but remain bearish signaling that sideways to lower prices are possible
near-term. If March extends this week’s decline, the reaction low crossing at
6.86 1/4 is the next downside target. Closes above the 20-day moving average
crossing at 7.26 would confirm that a short-term low has been posted. First
resistance is the 20-day moving average crossing at 7.26. Second resistance is
this month’s high crossing at 7.46 1/4. First support is the overnight low
crossing at 7.05 1/2. Second support is the reaction low crossing at 6.86 1/4.

March wheat was lower overnight and the low-range close sets the stage for a
steady to 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 March extends this month’s decline,
January’s low crossing at 7.36 1/4 is the next downside target. Closes above
the 20-day moving average crossing at 7.72 would temper the near-term bearish
outlook. First resistance is January’s high crossing at 7.99 3/4. Second
resistance is the 38% retracement level of the November-January decline
crossing at 8.10 1/2. First support is last Wednesday’s low crossing at 7.46
1/2. Second support is January’s low crossing at 7.36 1/4.

March Kansas City Wheat closed down 1 1/4-cents at 7.99 3/4.

March Kansas City wheat closed lower on Friday as it extends this week’s
decline. The low-range close sets the stage for a steady to lower opening on
Monday. Stochastics and the RSI are oversold but remain neutral to bearish
signaling that sideways to lower prices are possible near-term. If March
extends the decline off January’s high, January’s low crossing at 7.89 3/4 is
the next downside target. Closes above the 20-day moving average crossing at
8.25 would confirm that a short-term low has been posted. Closes above
January’s high crossing at 8.47 are needed to renew the rally off January’s
low. First resistance is January’s high crossing at 8.47. Second resistance is
the 38% retracement level of the November-January decline crossing at 8.53.
First support is today’s low crossing at 7.99 1/4. Second support is January’s
low crossing at 7.89 3/4.

March Minneapolis wheat was lower overnight as it extends this month’s
decline. The low-range close sets the stage for a steady to lower opening when
the day session begins to trade. Stochastics and the RSI are oversold but
remain neutral to bearish signaling that sideways to lower prices are possible
near-term. If March extends this month’s decline, January’s low crossing at
8.30 is the next downside target. Closes above the 20-day moving average
crossing at 8.56 3/4 would temper the near-term bearish outlook. First
resistance is the 20-day moving average crossing at 8.56 3/4. Second resistance
is the reaction high crossing at 8.82 1/4. First support is the overnight low
crossing at 8.32 1/4. Second support is January’s low crossing at 8.30.

SOYBEAN COMPLEX

March soybeans were lower overnight and trading below the 20-day moving
average crossing at 14.52 3/4. The low-range close sets the stage for steady to
lower prices when the day session begins trading later this morning.
Stochastics and the RSI have turned bearish signaling that sideways to lower
prices are possible near-term. Closes below the 20-day moving average crossing
at 14.52 3/4 would confirm that a short-term top has been posted while opening
the door for additional weakness near-term. If March renews the rally off
January’s low, the 50% retracement level of the September-January decline
crossing at 15.39 3/4 is the next upside target. First resistance is the 38%
retracement level of the September-January decline crossing at 14.95 1/4.
Second resistance is the 50% retracement level of the September-January decline
crossing at 15.39 3/4. First support the 20-day moving average crossing at
14.52 3/4. Second support is the reaction low crossing at 14.15.

March soybean meal was lower overnight and trading below the 20-day moving
average crossing at 423.10 as it extends last Friday’s decline. The low-range
close sets the stage for a steady to lower opening when the day session begins
trading. Stochastics and the RSI are overbought but are turning bearish
signaling that sideways to lower prices are possible near-term. Closes below
the 20-day moving average crossing at 423.10 would confirm a short-term top has
been posted while opening the door for additional weakness near-term. If March
renews the rally off January’s low, the 50% retracement level of the
September-January decline crossing at 455.30 is the next upside target. First
resistance is last Friday’s high crossing at 441.20. Second resistance is the
50% retracement level of the September-January decline crossing at 455.30.
First support is the 20-day moving average crossing at 423.10. Second support
is the reaction low crossing at 408.00.

March soybean oil was lower overnight and testing the December-January
uptrend line crossing near 50.80. The mid-range close sets the stage for a
steady to lower opening when the day session begins trading. Stochastics and
the RSI are bearish signaling that sideways to lower prices are possible
near-term. Closes below the aforementioned uptrend line would open the door for
a possible test of the reaction low crossing at 49.12 later this month. Closes
above the 10-day moving average crossing at 52.30 would confirm that a
short-term low has been posted. First resistance is the 20-day moving average
crossing at 51.96. Second resistance is the 10-day moving average crossing at
52.30. First support is the December-January uptrend line crossing near 50.80.
Second support is the reaction low crossing at 49.12.

LIVESTOCK http://quotes.ino.com/exchanges/?c=livestock

April hogs closed down $0.40 at $86.12.

April hogs closed lower on Friday as it extends the decline off November’s
high. The low-range close sets the stage for a steady to lower opening when
Monday’s night session begins trading. Stochastics and the RSI remain bearish
signaling that sideways to lower prices are possible near-term. If April
extends this week’s decline, the 62% retracement level of the May-November
rally crossing at 84.56 is the next downside target. Closes above the 10-day
moving average crossing at 88.09 are needed to confirm that a short-term low
has been posted. First resistance is Wednesday’s gap crossing at 87.55. Second
resistance is the 20-day moving average crossing at 88.09. First support is
Thursday’s low crossing at 85.80. Second resistance is the 62% retracement
level of the May-November rally crossing at 84.56.

April cattle closed down $1.40 at 130.12.

April cattle closed lower on Friday as it extends this week’s decline. The
low-range close sets the stage for a steady to lower opening when Monday’s
night session begins trading. Stochastics and the RSI are neutral to bearish
signaling that sideways to lower prices are possible near-term. If April
extends this week’s decline, January’s low crossing at 129.45 is the next
downside target. Closes above the reaction high crossing at 133.65 are needed
to confirm that a short-term low has been posted. First resistance is the
20-day moving average crossing at 132.05. Second resistance is the reaction
high crossing at 133.65. First support is today’s low crossing at 129.90.
Second support is January’s low crossing at 129.45.

March feeder cattle closed down $2.20 at $145.00.

March Feeder cattle gapped down and closed lower on Friday as it extends
this week’s decline. The low-range close sets the stage for a steady to lower
opening when Monday’s night session begins trading. Stochastics and the RSI are
turning bearish signaling that sideways to lower prices are possible near-term.
If March extends this week’s decline, January’s low crossing at 144.65 is the
next downside target. Closes above the 20-day moving average crossing at 148.37
are needed to confirm that a short-term low has been posted. First resistance
is the 20-day moving average crossing at 148.37. Second resistance is the
reaction high crossing at 150.45. First support is today’s low crossing at
144.97. Second support is January’s low crossing at 144.65.

_____________________________________________________________________

T H A N K   Y O U
_____________________________________________________________________

Copyright 2012 INO.com. All Rights Reserved.

Key Market Reports and Commentary for Friday 08/02/2013

F R I D A Y   M O R N I N G   E X T R E M E   M A R K E T S
A complimentary service from INO.com ( http://www.ino.com/ )

KEY EVENTS TO WATCH FOR:
Friday, February 8, 2013
8:30 AM ET. Dec U.S. International Trade in Goods & Services

Deficit (expected -45.5B; previous -48.73B)

Exports (previous 182.55B)

Exports Percent Change (previous +1%)

Imports (previous 231.28B)

Imports Percent Change (previous +3.8%)

10:00 AM ET. Dec Monthly Wholesale Trade

Inventories (expected +0.5%; previous +0.6%)

12:00 PM ET. World Agricultural Supply & Demand Estimates (WASDE)

U.S. Corn, Ending Stocks, Bushels (previous 0.6B)

U.S. Soybeans, Ending Stocks, Bushels (previous 135M)

U.S. Wheat, Ending Stocks, Bushels (previous 0.72B)

Key Events and Commentary available earlier every morning, via MarketClub (http://www.marketclub.com/)

STOCK INDEXES & MARKETS http://quotes.ino.com/exchanges/?c=indexes+

The March NASDAQ 100 closed lower on Thursday while extending this year’s
trading range. The mid-range close sets the stage for a steady opening when
Friday’s night session begins trading. Stochastics and the RSI are neutral
signaling that sideways trading is possible near-term. Closes below the
reaction low crossing at 2698.50 are needed to confirm a downside breakout of
this year’s trading range. If March renews the rally off December’s low, the
87% retracement level of the September-November decline crossing at 2804.15 is
the next upside target. First resistance is the reaction high crossing at
2768.75. Second resistance is the 87% retracement level of the
September-November decline crossing at 2804.15. First support is the reaction
low crossing at 2698.50. Second support is the January 2nd gap crossing at
2665.00.

The March S&P 500 closed lower on Thursday while extending this week’s
trading range. The mid-range close sets the stage for a steady opening when
Friday’s night session begins trading. Stochastics and the RSI are overbought,
diverging but are neutral to bullish signaling that additional short-term gains
are possible. If March extends the rally off November’s low, weekly resistance
crossing at 1526.50 is the next upside target. Closes below the 20-day moving
average crossing at 1487.98 would confirm that a short-term top has been
posted. First resistance is today’s high crossing at 1510.90. Second resistance
is weekly resistance crossing at 1526.50. First support is the reaction low
crossing at 1491.50. Second support is the 20-day moving average crossing at
1487.89.

The Dow posted closed lower on Thursday as it consolidates below
psychological resistance crossing at 14,000. The mid-range close sets the stage
for a steady opening on Friday. Stochastics and the RSI are overbought,
diverging but are neutral to bullish signaling that additional short-term gains
are possible. If the Dow extends the rally off November’s low, the 2007 high
crossing at 14,198 is the next upside target. Closes below the 20-day moving
average crossing at 13, 768 are needed to confirm that a short-term top has
been posted. First resistance is last Friday’s high crossing at 14,019. Second
resistance is monthly resistance crossing at 14,198. First support is today’s
low crossing at 13,852. Second support is the 20-day moving average crossing at
13,768.

______________________________

_______________________________________

INTEREST RATES http://quotes.ino.com/exchanges/?c=interest

March T-bonds closed up 3/32′s at 143-20.

March T-bonds closed higher on Thursday as it extends the trading range of
the past eight days. The mid-range close sets the stage for a steady to higher
opening on Friday. Stochastics and the RSI are turning bullish hinting that a
low might be in or is near. Multiple closes above the 20-day moving average
crossing at 144-17 are needed to confirm that a short-term low has been posted.
If March renews this winter’s decline, weekly support crossing at 139-14 is the
next downside target. First resistance is the 20-day moving average crossing at
144-17. Second resistance is the reaction high crossing at 146-17. First
support is Monday’s low crossing at 142-05. Second support is weekly support
crossing at 139-14.

ENERGY MARKETS http://quotes.ino.com/exchanges/category.html?c=energy

March crude oil closed lower on Thursday and below the 20-day moving average
crossing at 95.97. The low-range close sets the stage for a steady to lower
opening when Friday’s night session begins. Stochastics and the RSI are bearish
signaling that additional weakness is possible near-term. Multiple closes below
the 20-day moving average crossing at 95.97 are needed to confirm that a
short-term top has been posted. If March renews the rally off December’s low,
the 87% retracement level of the September-November decline crossing at 99.78
is the next upside target. First resistance is last Wednesday’s high crossing
at 98.24. Second resistance is the 87% retracement level of the
September-November crossing at 99.78. First support is Wednesday’s low crossing
at 95.04. Second support is the reaction low crossing at 94.95.

March heating oil closed higher on Thursday as it extends the rally off
December’s low. The high-range close sets the stage for a steady to higher
opening when Friday’s night session begins trading. Stochastics and the RSI are
overbought but remain neutral to bullish signaling that sideways to higher
prices are possible near-term. If March extends the rally off December’s low,
September’s high crossing at 321.00 is the next upside target. Closes below the
20-day moving average crossing at 308.37 would confirm that a short-term top
has been posted. First resistance is today’s high crossing at 321.22. Second
resistance is September’s high crossing at 321.00. First support is the 10-day
moving average crossing at 313.25. Second support is the 20-day moving average
crossing at 308.37.

March unleaded gas posted a key reversal down on Thursday while extending
this week’s trading range. The low-range close sets the stage for a steady to
lower opening when Friday’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 winter’s rally,
weekly resistance crossing at 308.23 is the next upside target. Closes below
the 20-day moving average crossing at 289.89 would confirm that a short-term
top has been posted. First resistance is today’s high crossing at 306.98.
Second resistance is weekly resistance crossing at 308.23. First support is the
10-day moving average crossing at 300.24. Second support is the 20-day moving
average crossing at 289.89.

March Henry natural gas closed lower on Thursday ending a three-day rally
off Monday’s low. The low-range close sets the stage for a steady to lower
opening on Friday. Stochastics and the RSI are turning bullish signaling that
sideways to higher prices are possible near-term. If March extends the rally
off last week’s low, January’s high crossing at 3.646 is the next upside
target. If March renews the decline off January’s high, January’s low crossing
at 3.100 is the next downside target. First resistance is Wednesday’s high
crossing at 3.459. Second resistance is January’s high crossing at 3.646. First
support is last Tuesday’s low crossing at 3.232. Second support is January’s
low crossing at 3.100.

CURRENCIES http://quotes.ino.com/exchanges/category.html?c=currencies

The March Dollar closed sharply higher on Thursday confirming yesterday’s
breakout above the 20-day moving average crossing at 79.74. The high-range
close sets the stage for a steady to higher opening on Friday. Stochastics and
the RSI are bullish signaling that sideways to higher prices are possible
near-term. If March extends this week’s rally, the reaction high crossing at
80.79 is the next upside target. If March renews the decline off January’s
high, weekly support crossing at 78.72 is the next downside target. First
resistance is today’s high crossing at 80.34. Second resistance is the reaction
crossing at 80.79. First support is last Friday’s low crossing at 78.91. Second
support is weekly support crossing at 78.72.

The March Euro closed lower on Thursday and below the 20-day moving average
crossing at 134.30 confirming that a short-term top has been posted. The
low-range close sets the stage for a steady to lower opening on Friday.
Stochastics and the RSI are bearish signaling that sideways to lower prices are
possible near-term. If March extends today’s decline, the reaction low crossing
at 132.62 is the next downside target. If March renews this winter’s rally,
weekly resistance crossing at 138.31 is the next upside target. First
resistance is last Friday’s high crossing at 137.15. Second resistance is
weekly resistance crossing at 138.31. First support is today’s low crossing at
133.74. Second support is the reaction low crossing at 132.62.

The March British Pound closed higher due to short covering on Thursday as
it consolidates some of Tuesday’s decline. The mid-range close sets the stage
for a steady to higher opening when Friday’s night session begins trading.
Stochastics and the RSI are oversold but remain bearish signaling that sideways
to lower prices are possible near-term. If March extends this year’s decline,
the 75% retracement level of 2012′s rally crossing at 1.5598 is the next
downside target. Closes above the 20-day moving average crossing at 1.5855 are
needed to confirm that a short-term low has been posted. First resistance is
the 20-day moving average crossing at 1.5855. Second resistance is last
Friday’s high crossing at 1.5874. First support is Tuesday’s low crossing at
1.5627. Second support is the 75% retracement level of 2012′s rally crossing at
1.5598.

The March Swiss Franc closed sharply lower on Thursday as it consolidated
some of the rally off last July’s low. The low-range close sets the stage for a
steady to lower opening when Friday’s night session begins trading. Stochastics
and the RSI are turning bearish signaling that sideways to lower prices are
possible near-term. Closes below the 20-day moving average crossing at .10867
would confirm that a short-term top has been posted. If March renews this
winter’s rally, weekly resistance crossing at .11119 is the next upside target.
First resistance is last Friday’s high crossing at .11090. Second resistance is
weekly resistance crossing at .11119. First support is the 20-day moving
average crossing at .10867. Second support is January’s low crossing at .10657.

The March Canadian Dollar posted a key reversal down on Thursday as it
consolidated some of the rally off January’s low. The low-range close sets the
stage for a steady to lower opening when Friday’s night session begins trading.
Stochastics and the RSI remain bullish signaling that sideways to higher prices
are possible near-term. Closes above the 20-day moving average crossing at
100.41 would confirm that a short-term low has been posted. If March renews the
decline off January’s high, the 62% retracement level of the 2011-2012-rally
crossing at 98.35 is the next downside target. First resistance is the 20-day
moving average crossing at 100.41. Second resistance is the reaction high
crossing at 100.85. First support is January’s low crossing at 98.89. Second
support is the 62% retracement level of the 2011-2012-rally crossing at 98.35.

The March Japanese Yen closed lower on Thursday. The mid-range close sets
the stage for a steady opening when Friday’s night session begins trading.
Stochastics and the RSI are oversold but remain neutral to bearish signaling
that additional weakness is possible near-term. If March extends the decline
off September’s high, monthly support crossing at .10532 is the next downside
target. Closes above the 20-day moving average crossing at .11045 are needed to
confirm that a short-term top has been posted. First resistance is the 10-day
moving average crossing at .10867. Second resistance is the 20-day moving
average crossing at .11045. First support is Wednesday’s low crossing at
.10633. Second support is monthly support crossing at .10532.

PRECIOUS METALS http://quotes.ino.com/exchanges/?c=metals

April gold closed lower on Thursday and the mid-range close sets the stage
for a steady opening when Friday’s night session begins trading. Stochastics
and the RSI are neutral to bullish signaling that sideways to higher prices are
possible near-term. If April extends the rally off last week’s low, the
October-November downtrend line crossing near 1692.40 is the next upside
target. If April renews the decline off January’s high, January’s low crossing
at 1627.90 is the next downside target. First resistance is the
October-November downtrend line crossing near 1692.40. Second resistance is the
reaction high crossing at 1726.70. First support is January’s low crossing at
1627.90. Second support is the 75% retracement level of the May-October rally
crossing at 1604.60.

March silver closed lower on Thursday and below the 10-day moving average
crossing at 31.559. The low-range close set the stage for a steady to lower
opening when Friday’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 today’s decline, last Monday’s low crossing at
30.745 is the next downside target. Closes above the reaction high crossing at
32.485 are needed to renew the rally off January’s low. First resistance is
January’s high crossing at 32.485. Second resistance is the reaction high
crossing at 33.875. First support is last Monday’s low crossing at 30.745.
Second support is January’s low crossing at 29.240.

March copper closed lower due to profit taking on Thursday. The low-range
close sets the stage for a steady to lower opening when Friday’s night session
begins trading. Stochastics and the RSI are overbought and are turning bearish
hinting that a short-term top might be in or is near. Closes below the 20-day
moving average crossing at 369.64 are needed to confirm that a short-term top
has been posted. If March renews the rally off November’s low, October’s high
crossing at 382.90 is the next upside target. First resistance is Monday’s high
crossing at 379.25. Second resistance is October’s high crossing at 382.90.
First support is the 20-day moving average crossing at 369.64. Second support
is the reaction low crossing at 364.05.

FOOD & FIBER http://quotes.ino.com/exchanges/category.html?c=food

March coffee closed lower on Thursday as it extends the decline off
January’s high. The low-range close set the stage for a steady to lower opening
on Friday. Stochastics and the RSI are oversold but remain bearish signaling
that sideways to lower prices are possible near-term. If March extends the
decline off January’s high, the contract low crossing at 13.80 is the next
downside target. Closes above the 20-day moving average crossing at 14.89 would
confirm that a short-term low has been posted.

March cocoa closed higher on Thursday and the mid-range close sets the stage
for a steady to higher opening on Friday. Stochastics and the RSI are bullish
signaling that sideways to higher prices are possible near-term. If March
extends this week’s rally, January’s high crossing at 23.13 is the next upside
target. If March renews the decline off September’s high, the 87% retracement
level of the June-September rally crossing at 21.45 is the next downside
target.

March sugar closed lower on Thursday as it extends this week’s decline. The
low-range close set the stage for a steady to lower opening on Friday.
Stochastics and the RSI are bearish signaling that sideways to lower prices are
possible near-term. If March renews this year’s decline, the 75% retracement
level of the 2010-2011 rally crossing at 17.38 is the next downside target. If
March renews the rally off January’s low, the reaction high crossing at 19.19
is the next upside target.

March cotton closed lower on Thursday and the low-range close sets the stage
for a steady to lower opening on Friday. Stochastics and the RSI have turned
bearish hinting that a short-term top might be in or is near. Closes below the
20-day moving average crossing at 79.93 are needed to confirm that a short-term
top has been posted. If March renews this winter’s rally, the 62% retracement
level of the 2012-decline crossing at 86.50 is the next upside target.
——————————

—————————————

Free Video Seminar – “Avoiding Common Trading Pitfalls”

http://broadcast.ino.com/redirect/?linkid=2037

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GRAINS http://quotes.ino.com/exchanges/category.html?c=grains

March Corn closed down 11 3/4-cents at 7.10 3/4.

March corn closed lower for the fifth day in a row on Thursday and below
minor support crossing at 7.14 1/2. Long liquidation ahead of Friday’s monthly
supply-demand report was the driving factor behind today’s decline. The
low-range close sets the stage for a steady to lower opening when Friday’s
night session begins trading. Stochastics and the RSI are bearish signaling
that sideways to lower prices are possible near-term. Closes above the 10-day
moving average crossing at 7.29 1/4 are needed to confirm that a short-term low
has been posted. First resistance is the 10-day moving average crossing at 7.29
1/4. Second resistance is the 38% retracement level of the August-January
decline crossing at 7.41 3/4. First support is today’s low crossing at 7.10.
Second support is the reaction low crossing at 6.86 1/4.

March wheat closed down 5 1/2-cents at 7.56.

March wheat closed lower on Thursday extending this week’s decline. The
low-range close sets the stage for a steady to lower opening when Friday’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 this week’s decline, January’s low crossing at 7.36
1/4 is the next downside target. Closes above the 20-day moving average
crossing at 7.71 1/2 are needed to temper the near-term bearish outlook. First
resistance is the 20-day moving average crossing at 7.71 1/2. Second resistance
is January’s high crossing at 7.99 3/4. First support is January’s low crossing
at 7.36 1/4. Second support is the 75% retracement level of this year’s rally
crossing at 7.25 3/4.

March Kansas City Wheat closed down 8 3/4-cents at 8.01.

March Kansas City wheat closed lower on Thursday as it extends this week’s
decline. The low-range close sets the stage for a steady to lower opening on
Friday. Stochastics and the RSI are oversold but remain neutral to bearish
signaling that sideways to lower prices are possible near-term. If March
extends the decline off January’s high, January’s low crossing at 7.89 3/4 is
the next downside target. Closes above the 20-day moving average crossing at
8.24 3/4 would confirm that a short-term low has been posted. Closes above
January’s high crossing at 8.47 are needed to renew the rally off January’s
low. First resistance is January’s high crossing at 8.47. Second resistance is
the 38% retracement level of the November-January decline crossing at 8.53.
First support is Wednesday’s low crossing at 8.00 1/4. Second support is
January’s low crossing at 7.89 3/4.

March Minneapolis wheat closed down 5 1/2-cents at 8.39 1/4.

March Minneapolis wheat closed lower on Thursday extending this week’s
decline. The low-range close sets the stage for a steady to lower opening when
Friday’s night session begins to trade. Stochastics and the RSI are oversold
but remain neutral to bearish signaling that sideways to lower prices are
possible near-term. If March extends this week’s decline, January’s low
crossing at 8.30 is the next downside target. Closes above the 20-day moving
average crossing at 8.57 1/2 would temper the near-term bearish outlook. If
March renews the rally off January’s low, the reaction high crossing at 9.11
1/2 is the next upside target. First resistance is the 20-day moving average
crossing at 8.57 1/2. Second resistance is January’s high crossing at 8.82 1/4.
First support is Wednesday’s low crossing at 8.34 1/2. Second support is
January’s low crossing at 8.30.

SOYBEAN COMPLEX

March soybeans closed down 3/4-cents at 14.86 1/2.

March soybeans closed lower on Wednesday as it consolidates below the 38%
retracement level of the September-January decline crossing at 14.95 1/4. The
mid-range close sets the stage for a steady opening when Friday’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
September-January decline crossing at 15.39 3/4 is the next upside target.
Closes below the 20-day moving average crossing at 14.46 1/4 would confirm that
a short-term top has been posted. First resistance is Monday’s high crossing at
14.98. Second resistance is the 50% retracement level of the September-January
decline crossing at 15.39 3/4. First support is the 10-day moving average
crossing at 14.72. Second support is the 20-day moving average crossing at
14.46 1/4.

March soybean meal closed up $0.50 at $437.60.

March soybean meal closed higher on Thursday as it extends the rally off
January’s low. The mid-range close sets the stage for a steady to higher
opening when Friday’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 January’s low, the 50%
retracement level of the September-January crossing at 455.30 is the next
upside target. Closes below the 20-day moving average crossing at 421.70 would
confirm that a short-term top has been posted. First resistance is today’s high
crossing at 441.00. Second resistance is the 50% retracement level of the
September-January crossing at 455.30. First support is the 10-day moving
average crossing at 429.50. Second support is the 20-day moving average
crossing at 421.70.

March soybean oil closed down 60-pts. at 51.85.

March soybean closed lower on Thursday extending this week’s decline. The
low-range close sets the stage for a steady to lower opening when Friday’s
night session begins trading. Stochastics and the RSI have turned bearish
signaling that sideways to lower prices are possible near-term. Closes below
the 20-day moving average crossing at 51.79 would confirm that a short-term top
has been posted. If March renews the rally off December’s low, the 62%
retracement level of the September-November decline crossing at 54.51 is the
next upside target. First resistance is last Friday’s high crossing at 53.57.
Second resistance is the 62% retracement level of the September-November
decline crossing at 54.51. First support is today’s low crossing at 51.80.
Second support is the 20-day moving average crossing at 51.79.

LIVESTOCK http://quotes.ino.com/exchanges/?c=livestock

April hogs closed up $0.27 at $86.52.

April hogs closed higher due to short covering on Thursday as it
consolidated some of the decline off November’s high. The high-range close sets
the stage for a steady to higher opening when Friday’s night session begins
trading. Stochastics and the RSI remain bearish signaling that sideways to
lower prices are possible near-term. If April extends this week’s decline, the
62% retracement level of the May-November rally crossing at 84.56 is the next
downside target. Closes above the 10-day moving average crossing at 88.37 are
needed to confirm that a short-term low has been posted. First resistance is
Wednesday’s gap crossing at 87.55. Second resistance is the 20-day moving
average crossing at 88.14. First support is today’s low crossing at 85.80.
Second resistance is the 62% retracement level of the May-November rally
crossing at 84.56.

April cattle closed up $0.07 at 131.52.

April cattle closed higher due to short covering on Thursday but remains
below the 10-day moving average. The high-range close sets the stage for a
steady to higher opening when Friday’s night session begins trading.
Stochastics and the RSI are neutral signaling that sideways trading is possible
near-term. If April extends this week’s decline, January’s low crossing at
129.45 is the next downside target. Closes above the reaction high crossing at
133.65 are needed to confirm that a short-term low has been posted. First
resistance is the 20-day moving average crossing at 132.30. Second resistance
is the reaction high crossing at 133.65. First support is today’s low crossing
at 130.85. Second support is January’s low crossing at 129.45.

March feeder cattle closed down $0.35 at $147.20.

March Feeder cattle closed lower on Thursday as it extends this week’s
decline. The mid-range close sets the stage for a steady to lower opening when
Friday’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 extends this week’s decline, January’s low crossing at
144.65 is the next downside target. Closes above the reaction high crossing at
150.45 are needed to confirm that a short-term low has been posted. First
resistance is the 20-day moving average crossing at 148.76. Second resistance
is the reaction high crossing at 150.45. First support is today’s low crossing
at 146.65. Second support is January’s low crossing at 144.65.

_____________________________________________________________________

T H A N K   Y O U
_____________________________________________________________________

Copyright 2012 INO.com. All Rights Reserved.

Key Market Reports and Commentary for Wednesday Post 06/02/2013

W E D N E S D A Y   M O R N I N G   E X T R E M E   M A R K E T S
A complimentary service from INO.com ( http://www.ino.com/ )

KEY EVENTS TO WATCH FOR:
Wednesday, February 6, 2013
7:00 AM ET. MBA Weekly Mortgage Applications Survey

Market Composite Index (previous 822.1)

Market Composite Index Cur Chg (previous -8.1%)

Purchase Index (S.A.) (previous 211.1)

Purchase Index (S.A.) Cur Chg (previous -1.8%)

Refinance Index (previous 4415.2)

Refinance Index Cur Chg (previous -10.2%)

9:00 AM ET. U.S. Dept. of the Treasury’s quarterly refunding announcement

10:30 AM ET. EIA Weekly Petroleum Status Report

Crude Oil Stocks (previous 369.06M)

Crude Oil Stocks (Net Change) (previous +5.95M)

Gasoline Stocks (previous 232.3M)

Gasoline Stocks (Net Change) (previous -0.96M)

Distillate Stocks (previous 130.62M)

Distillate Stocks (Net Change) (previous -2.32M)

Refinery Usage (previous 85%)

Total Products Supplied (previous 18.68M)

Total Products Supplied (Net Change) (previous +0.04M)

Key Events and Commentary available earlier every morning, via MarketClub (http://www.marketclub.com/)

STOCK INDEXES & MARKETS http://quotes.ino.com/exchanges/?c=indexes+

The March NASDAQ 100 was slightly lower overnight while extending January’s
trading range. Stochastics and the RSI are turning neutral signaling that
sideways trading is possible near-term. If March renews the rally off the
late-December low, the 87% retracement level of the September-November decline
crossing at crossing at 2804.15 is the next upside target. Closes below the
reaction low crossing at 2698.50 are needed to confirm a downside breakout of
January’s trading range. First resistance is the 75% retracement level of the
September-November decline crossing at crossing at 2761.06. Second resistance
is the 87% retracement level of the September-November decline crossing at
2804.15. First support is the reaction low crossing at 2698.50. Second support
is the January 2nd gap crossing at 2665.00.

The March S&P 500 index was slightly higher overnight and poised to resume
the rally off November’s low. Stochastics and the RSI are overbought, diverging
but are neutral to bullish signaling that sideways to higher prices are
possible near-term. If March extends the rally off November’s low, weekly
resistance crossing at 1526.50 is the next upside target. Closes below the
20-day moving average crossing at 1485.49 would confirm that a short-term top
has been posted. First resistance is Tuesday’s high crossing at 1510.80. Second
resistance is weekly resistance crossing at 1526.50. First support is the
20-day moving average crossing at 1485.49. Second support is the reaction low
crossing at 1457.00.

______________________________

_______________________________________

INTEREST RATES http://quotes.ino.com/exchanges/?c=interest

March T-bonds was higher overnight as it extends the trading range of the
past seven days. Stochastics and the RSI are oversold and are turning neutral
to bullish hinting that a short-term low might be in or is near. Closes above
the 20-day moving average crossing at 144-19 are needed to confirm that a
short-term low has been posted. If March extends this winter’s decline, weekly
support crossing at 139-14 is the next downside target. First resistance is the
20-day moving average crossing at 144-19. Second resistance is the reaction
high crossing at 146-17. First support is Monday’s low crossing at 142-05.
Second support is weekly support crossing at 139-14.

ENERGY MARKETS http://quotes.ino.com/exchanges/category.html?c=energy

March crude oil was lower due to profit taking overnight as it extends this
week’s decline. Stochastics and the RSI have turned bearish signaling that
sideways to lower prices are possible near-term. Closes below the 20-day moving
average crossing at 95.82 are needed to confirm that a short-term top has been
posted. If March renews the rally off December’s low, the 87% retracement level
of the September-November decline crossing at 99.78 is the next upside target.
First resistance is last Wednesday’s high crossing at 98.24. Second resistance
is the 87% retracement level of the September-November decline crossing at
99.78. First support is the 20-day moving average crossing at 95.82. Second
support is the reaction low crossing at 94.95.

March heating oil was lower due to light profit taking overnight as it
consolidates some of the rally off December’s low. Stochastics and the RSI are
overbought but remain neutral to bullish signaling that sideways to higher
prices are possible near-term. If March extends the rally off December’s low,
September’s high crossing at 321.00 is the next upside target. Closes below the
20-day moving average crossing at 307.62 would confirm that a short-term top
has been posted. First resistance is Tuesday’s high crossing at 320.11. Second
resistance is September’s high crossing at 321.00. First support is the 10-day
moving average crossing at 311.98. Second support is the 20-day moving average
crossing at 307.62.

March unleaded gas was lower overnight, as it extends the trading range of
the past five days. Stochastics and the RSI are overbought but remain neutral
to bullish signaling that sideways to higher prices are possible near-term. If
March extends January’s rally, weekly resistance crossing at 308.23 is the next
upside target. Closes below the 20-day moving average crossing at 288.73 are
needed to confirm that a short-term top has been posted. First resistance is
last Friday’s high crossing at 304.16. Second resistance is weekly resistance
crossing at 308.23. First support is the 10-day moving average crossing at
298.79. Second support is the 20-day moving average crossing at 288.73.

March Henry natural gas was higher overnight as it extends this week’s rally
above the 20-day moving average. Stochastics and the RSI are turning bullish
signaling that sideways to higher prices are possible near-term. If March
extends this week’s rally, January’s high crossing at 3.646 is the next upside
target. If March renews the decline off January’s high, January’s low crossing
at 3.100 is the next downside target. First resistance is the overnight high
crossing at 3.455. Second resistance is January’s high crossing at 3.646. First
support is last Tuesday’s low crossing at 3.232. Second support is January’s
low crossing at 3.100.

CURRENCIES http://quotes.ino.com/exchanges/category.html?c=currencies

The March Dollar was higher overnight and trading above the 20-day moving
average. Stochastics and the RSI are bullish signaling that sideways to higher
prices are possible near-term. Closes above the 20-day moving average crossing
at 79.72 would confirm that a short-term low has been posted. If March renews
January’s decline, weekly support crossing at 78.60 is the next downside
target. First resistance is the 20-day moving average crossing at 79.72. Second
resistance is the reaction high crossing at 80.27. First support is last
Friday’s low crossing at 78.91. Second support is weekly support crossing at
78.60.

The March Euro was lower overnight as it consolidates some of winter’s
rally. Stochastics and the RSI have turned bearish hinting that a short-term
top might be in or is near. Closes below the 20-day moving average crossing at
134.13 would confirm that a short-term top has been posted. If March renews
this winter’s rally, weekly resistance crossing at 138.31 is the next upside
target. First resistance is last Friday’s high crossing at 137.15. Second
resistance is weekly resistance crossing at 138.31. First support is the 10-day
moving average crossing at 135.25. Second resistance is the 20-day moving
average crossing at 134.13.

The March British Pound was slightly higher overnight as it consolidates
some of Tuesday’s decline. Stochastics and the RSI are diverging but are
bearish signaling that additional weakness is possible near-term. If March
extends the decline off January’s high, the 75% retracement level of the
May-January rally crossing at 1.5598 is the next downside target. Closes above
the 20-day moving average crossing at 1.5870 are needed to confirm that a
short-term low has been posted. First resistance is the 20-day moving average
crossing at 1.5870. Second resistance is the reaction high crossing at 1.6166.
First support is Tuesday’s low crossing at 1.5627. Second support is the 75%
retracement level of the May-January rally crossing at 1.5598.

The March Swiss Franc was lower overnight as it consolidates some of the
rally off January’s low. Stochastics and the RSI are overbought and are turning
bearish signaling that sideways to lower prices are possible near-term. Closes
below the 20-day moving average crossing at .10861 would confirm that a
short-term top has been posted. If March extends this winter’s rally, monthly
resistance crossing at .11119 is the next upside target. First resistance is
last Friday’s high crossing at .11080. Second resistance is monthly resistance
crossing at .11119. First support is the 20-day moving average crossing at
.10861. Second support is January’s low crossing at .10657.

The March Canadian Dollar was lower overnight as it consolidates some of the
rally off January’s low. Stochastics and the RSI are bullish signaling that
sideways to higher prices are possible near-term. Closes above the 20-day
moving average crossing at 100.45 are needed to confirm that a short-term low
has been posted. If March renews January’s decline, the 62% retracement level
of 2012′s rally crossing at 98.35 is the next downside target. First resistance
is the 20-day moving average crossing at 100.45. Second resistance is the
reaction high crossing at 100.85. First support is January’s low crossing at
98.89. Second support is the 62% retracement level of 2012′s rally crossing at
98.35.

The March Japanese Yen was lower overnight as it extends this winter’s
decline. Stochastics and the RSI are oversold but remain neutral to bearish
signaling that additional weakness is possible near-term. If March extends the
decline off September’s high, monthly support crossing at .10532 is the next
downside target. Closes above the 20-day moving average crossing at .11078 are
needed to confirm that a short-term low has been posted. First resistance is
the 10-day moving average crossing at .10906. Second resistance is the 20-day
moving average crossing at .11078. First support is the overnight low crossing
at .10633. Second support is monthly support crossing at .10532.

PRECIOUS METALS http://quotes.ino.com/exchanges/?c=metals

April gold was higher overnight and the high-range close sets the stage for
a steady to higher opening when the day session begins trading. Stochastics and
the RSI are bullish signaling that sideways to higher prices are possible
near-term. If April renews the rally off last Monday’s low, the
October-November downtrend line crossing near 1693.50 is the next upside
target. If April renews the decline off January’s high, January’s low crossing
at 1627.90 is the next downside target. First resistance is the
October-November downtrend line crossing near 1693.50. Second resistance is
January’s high crossing at 1699.90. First support is last Monday’s low crossing
at 1653.20. Second support is January’s low crossing at 1627.90.

March silver was lower overnight as it continues to form a small symmetrical
triangle. Stochastics and the RSI are neutral to bearish signaling that
sideways to lower prices are possible near-term. Closes above the reaction high
crossing at 32.485 are needed to renew the rally off January’s low. If March
renews the decline off January’s high, January’s low crossing at 29.240 is the
next downside target. First resistance is January’s high crossing at 32.365.
Second resistance is the reaction high crossing at 32.600. First support is
last Monday’s low crossing at 30.745. Second support is January’s low crossing
at 29.240.

March copper was lower due to profit taking overnight as it consolidates
some of the rally off November’s low. Stochastics and the RSI are overbought
and are turning neutral to bearish hinting that a short-term top might be in or
is near. Closes below the 20-day moving average crossing at 369.36 would
confirm that a short-term top has been posted. If March extends the
aforementioned rally, October’s high crossing at 382.90 is the next upside
target. First resistance is Monday’s high crossing at 379.25. Second resistance
is October’s high crossing at 382.90. First support is the 20-day moving
average crossing at 369.35. Second support is the reaction low crossing at
364.05.

FOOD & FIBER http://quotes.ino.com/exchanges/category.html?c=food

March coffee closed lower on Tuesday as it extends the decline off January’s
high. The low-range close set the stage for a steady to lower opening on
Wednesday. Stochastics and the RSI are oversold but remain bearish signaling
that sideways to lower prices are possible near-term. If March extends the
decline off January’s high, the reaction low crossing at 14.12 is the next
downside target. Closes above the 20-day moving average crossing at 14.96 would
confirm that a short-term low has been posted.

March cocoa closed higher on Tuesday and above the 20-day moving average
crossing at 22.26 confirming that a low has been posted. The high-range close
sets the stage for a steady to higher opening on Wednesday. Stochastics and the
RSI are bullish signaling that sideways to higher prices are possible
near-term. If March extends today’s rally, January’s high crossing at 23.13 is
the next upside target. If March renews the decline off September’s high, the
87% retracement level of the June-September rally crossing at 21.45 is the next
downside target.

March sugar closed lower on Tuesday and the low-range close set the stage
for a steady to lower opening on Wednesday. Stochastics and the RSI are neutral
to bullish signaling that sideways to higher prices are possible near-term. If
March extends the rally off January’s low, the reaction high crossing at 19.19
is the next upside target. If March renews this year’s decline, the 75%
retracement level of the 2010-2011 rally crossing at 17.38 is the next downside
target.

March cotton closed lower due to profit taking on Tuesday as it consolidated
some of this winter’s rally. The high-range close sets the stage for a steady
to higher opening on Wednesday. Stochastics and the RSI are diverging and are
turning neutral to bearish hinting that a short-term top might be in or is
near. Closes below the 20-day moving average crossing at 79.27 are needed to
confirm that a short-term top has been posted. If March extends this winter’s
rally, the 62% retracement level of the 2012-decline crossing at 86.50 is the
next upside target.
——————————

—————————————

Free Video Seminar – “Avoiding Common Trading Pitfalls”

http://broadcast.ino.com/redirect/?linkid=2037

———————————————————————

GRAINS http://quotes.ino.com/exchanges/category.html?c=grains

March corn was lower in overnight trading as it extends this week’s decline.
Renewed concerns over demand and profit taking ahead of this month’s
supply-demand report are the driving factors behind this week’s sell off. The
low-range close sets the stage for a steady to lower opening when the day
session begins trading. Stochastics and the RSI are bearish signaling that
sideways to lower prices are possible near-term. Closes below the 20-day moving
average crossing at 7.23 would confirm that a short-term top has been posted.
If March renews the rally off January’s low, the 50% retracement level of the
August-January decline crossing at 7.61 3/4 is the next upside target. First
resistance is last Friday’s high crossing at 7.46 1/4. Second resistance is the
50% retracement level of the August-January decline crossing at 7.61 3/4. First
support is the 20-day moving average crossing at 7.23. Second support is the
reaction low crossing at 6.86 1/4.

March wheat was lower overnight as it extends the decline off last week’s
high. The low-range close sets the stage for a steady to lower opening when the
day session begins trading. Stochastics and the RSI are bearish signaling that
sideways to lower prices are possible near-term. If March extends the
aforementioned decline, January’s low crossing at 7.36 1/4 is the next downside
target. If March renews the rally off January’s low, the 38% retracement level
of the November-January decline crossing at 8.10 1/2 is the next upside target.
First resistance is the 38% retracement level of the November-January decline
crossing at 8.10 1/2. Second resistance is the 50% retracement level of the
November-January decline crossing at 8.33 1/4. First support is Tuesday’s low
crossing at 7.51. Second support is January’s low crossing at 7.36 1/4.

March Kansas City Wheat closed down 9 3/4-cents at 8.07 1/4.

March Kansas City wheat closed lower on Tuesday as it extends this week’s
decline below the 20-day moving average. The low-range close sets the stage for
a steady to lower opening on Wednesday. Stochastics and the RSI are bearish
signaling that sideways to lower prices are possible near-term. If March
extends the decline off January’s high, January’s low crossing at 7.89 3/4 is
the next downside target. Closes above January’s high crossing at 8.47 are
needed to renew the rally off January’s low. First resistance is January’s high
crossing at 8.47. Second resistance is the 38% retracement level of the
November-January decline crossing at 8.53. First support is today’s low
crossing at 8.07 1/2. Second support is January’s low crossing at 7.89 3/4.

March Minneapolis wheat was lower in quiet overnight trading as it extends
this week’s decline. The low-range close sets the stage for a steady to lower
opening when the day session begins to trade. Stochastics and the RSI are
bearish signaling that sideways to lower prices are possible near-term. If
March extends this week’s decline, January’s low crossing at 8.30 is the next
downside target. Closes above the 20-day moving average crossing at 8.57 1/4
would temper the near-term bearish outlook. If March renews the rally off
January’s low, the reaction high crossing at 9.11 1/2 is the next upside
target. First resistance is the reaction high crossing at 8.82 1/4. Second
resistance is the reaction high crossing at 9.11 1/2. First support is
Tuesday’s low crossing at 8.37. Second support is January’s low crossing at
8.30.

SOYBEAN COMPLEX

March soybeans were lower due to profit taking overnight as it consolidates
some of the rally off January’s low. The low-range close sets the stage for
steady to lower prices 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 March extends the
aforementioned rally, the 50% retracement level of the September-January
decline crossing at 15.39 3/4 is the next upside target. Closes below the
20-day moving average crossing at 14.41 would confirm that a short-term top has
been posted. First resistance is the 38% retracement level of the
September-January decline crossing at 14.95 1/4. Second resistance is the 50%
retracement level of the September-January decline crossing at 15.39 3/4. First
support the 20-day moving average crossing at 14.41. Second support is the
reaction low crossing at 14.15.

March soybean meal was lower due to profit taking overnight as it
consolidates some of the rally off January’s low. The low-range close sets the
stage for a steady to lower 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 March extends the
rally off January’s low, the 38% retracement level of the September-January
decline crossing at 440.40 is the next upside target. First resistance is the
overnight high crossing at 439.10. Second resistance is the 38% retracement
level of the September-January decline crossing at 440.40. First support is the
20-day moving average crossing at 420.20. Second support is the reaction low
crossing at 408.00.

March soybean oil was lower overnight as it consolidates some of the rally
off November’s low. The low-range close 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 bearish hinting that a short-term top
might be in or is near. Closes below the 20-day moving average crossing at
51.69 are needed to confirm that a short-term top has been posted. If March
extends the rally off December’s low, the 62% retracement level of the
September-November decline crossing at 54.49 is the next upside target. First
resistance is last Friday’s high crossing at 53.57. Second resistance is the
62% retracement level of the September-November decline crossing at 54.49.
First support is the 10-day moving average crossing at 52.49. Second support is
the 20-day moving average crossing at 51.69.

LIVESTOCK http://quotes.ino.com/exchanges/?c=livestock

April hogs closed down $0.65 at $87.70.

April hogs closed lower on Tuesday and the low-range close sets the stage
for a steady to lower opening when Wednesday’s night session begins trading.
Stochastics and the RSI are bearish signaling that sideways to lower prices are
possible near-term. Closes below the reaction low crossing at 87.10 would
confirm that a top has been posted. If April renews the rally off January’s
low, the reaction high crossing at 90.90 is the next upside target. First
resistance is the reaction high crossing at 90.90. Second resistance is the
reaction high crossing at 91.82. First support is the reaction low crossing at
87.10. Second resistance is the reaction low crossing at 86.90.

April cattle closed up $0.03 at 132.30.

April cattle closed higher on Tuesday as it consolidated some of last
Friday’s decline. The mid-range close sets the stage for a steady opening when
Wednesday’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 132.73 are needed to confirm
that a short-term low has been posted. If April renews the decline off
January’s high, last June’s low crossing at 127.55 is the next downside target.
First resistance is the 20-day moving average crossing at 132.73. Second
resistance is the reaction high crossing at 135.17. First support is last
Monday’s gap crossing at 131.25. Second support is the reaction low crossing at
129.45.

March feeder cattle closed down $0.35 at $148.52.

March Feeder cattle closed lower on Tuesday and the low-range close sets the
stage for a steady to lower opening when Wednesday’s night session begins
trading. Stochastics and the RSI remain bullish signaling that sideways to
higher prices are possible near-term. Closes above the 20-day moving average
crossing at 149.47 are needed to confirm that a short-term low has been posted.
If March renews the decline off January’s high, weekly support low crossing at
141.30 is the next downside target. First resistance is the 20-day moving
average crossing at 149.47. Second resistance is the reaction high crossing at
153.70. First support is the reaction low crossing at 144.65. Second support is
weekly support crossing at 141.30.

_____________________________________________________________________

T H A N K   Y O U
_____________________________________________________________________

Copyright 2012 INO.com. All Rights Reserved.

Key Market Reports and Commentary for Monday 04/02/2013

M O N D A Y   M O R N I N G   E X T R E M E   M A R K E T S
A complimentary service from INO.com ( http://www.ino.com/ )
KEY EVENTS TO WATCH FOR:
Monday, February 4, 2013
9:45 AM ET. Jan ISM-NY Report on Business

US ISM-NY Business Index (previous 54.3)

10:00 AM ET. Dec Manufacturers’ Shipments, Inventories & Orders (M3)

Total Orders (previous +0%)

Orders, Ex-Defense (previous +0.1%)

Orders, Ex-Transportation (previous +0.2%)

Durable Goods 1st Est. (previous +0.7%)

Durable Goods Revised (previous +0.8%)

10:00 AM ET. Jan Employment Trends Index

US Employment Trends Index (ETI) (previous 109.02)

US Employment Trends Index (ETI) (previous +0.77%)

Key Events and Commentary available earlier every morning, via MarketClub (http://www.marketclub.com/)

STOCK INDEXES & MARKETS http://quotes.ino.com/exchanges/?c=indexes+

The March NASDAQ 100 was slightly lower overnight while at the same time
extending January’s trading range above the 62% retracement level of the
September-November decline crossing at 2715.55. Stochastics and the RSI are
turning neutral to bullish signaling that sideways to higher prices are
possible near-term. If March renews the rally off the late-December low, the
87% retracement level of the September-November decline crossing at crossing at
2804.15 is the next upside target. Closes below the reaction low crossing at
2698.50 are needed to confirm a downside breakout of the aforementioned trading
range. First resistance is the 75% retracement level of the September-November
decline crossing at crossing at 2761.06. Second resistance is the 87%
retracement level of the September-November decline crossing at 2804.15. First
support is the reaction low crossing at 2698.50. Second support is the January
2nd gap crossing at 2665.00.

The March S&P 500 index was lower due to profit taking overnight as it
consolidates some of last Friday’s rally. Stochastics and the RSI are
overbought but are turning neutral to bearish hinting that a short-term top
might be in or is near. Closes below the 20-day moving average crossing at
1480.82 would confirm that a short-term top has been posted. If March extends
the rally off November’s low, weekly resistance crossing at 1526.50 is the next
upside target. First resistance is last Friday’s high crossing at 1508.50.
Second resistance is weekly resistance crossing at 1526.50. First support is
the 10-day moving average crossing at 1496.85. Second support is the 20-day
moving average crossing at 1480.82.

______________________________

_______________________________________

INTEREST RATES http://quotes.ino.com/exchanges/?c=interest

March T-bonds was lower overnight as they extend the decline off November’s
high. Stochastics and the RSI are oversold but remain neutral to bearish
signaling that sideways to lower prices are possible near-term. If March
extends this winter’s decline, weekly support crossing at 139-14 is the next
downside target. Closes above the 20-day moving average crossing at 144-24 are
needed to confirm that a short-term low has been posted. First resistance is
the 20-day moving average crossing at 144-24. Second resistance is the reaction
high crossing at 146-17. First support is the overnight low crossing at 142-05.
Second support is weekly support crossing at 139-14.

ENERGY MARKETS http://quotes.ino.com/exchanges/category.html?c=energy

March crude oil was lower overnight as it consolidates some of this winter’s
rally. Stochastics and the RSI are overbought but remain neutral to bullish
signaling that sideways to higher prices are possible near-term. If March
extends the rally off December’s low, the 87% retracement level of the
September-November decline crossing at 99.78 is the next upside target. Closes
below the 20-day moving average crossing at 95.40 are needed to confirm that a
short-term top has been posted. First resistance is last Wednesday’s high
crossing at 98.24. Second resistance is the 87% retracement level of the
September-November decline crossing at 99.78. First support is the 10-day
moving average crossing at 96.77. Second support is the 20-day moving average
crossing at 95.58.

March heating oil was lower due to profit taking overnight as it
consolidates some of the rally off December’s low. Stochastics and the RSI are
overbought but remain neutral to bullish signaling that sideways to higher
prices are possible near-term. If March extends the rally off December’s low,
September’s high crossing at 321.00 is the next upside target. Closes below the
20-day moving average crossing at 305.99 would confirm that a short-term top
has been posted. First resistance is last Friday’s high crossing at 316.91.
Second resistance is September’s high crossing at 321.00. First support is the
10-day moving average crossing at 309.37. Second support is the 20-day moving
average crossing at 305.99.

March unleaded gas was lower due to profit taking overnight as it
consolidates some of the rally off December’s low. Stochastics and the RSI are
overbought but remain neutral to bullish signaling that sideways to higher
prices are possible near-term. If March extends January’s rally, weekly
resistance crossing at 308.23 is the next upside target. Closes below the
20-day moving average crossing at 286.39 are needed to confirm that a
short-term top has been posted. First resistance is last Friday’s high crossing
at 304.16. Second resistance is weekly resistance crossing at 308.23. First
support is the 10-day moving average crossing at 295.15. Second support is the
20-day moving average crossing at 286.39.

March Henry natural gas was lower overnight as it consolidates below broken
support marked by the 20-day moving average crossing at 3.368. Stochastics and
the RSI remain bearish signaling that sideways to lower prices are possible
near-term. If March extends the decline off January’s high, January’s low
crossing at 3.100 is the next downside target. Closes above the 10-day moving
average crossing at 3.385 would confirm that a short-term low has been posted.
First resistance is the 10-day moving average crossing at 3.385. Second
resistance is January’s high crossing at 3.646. First support is last Tuesday’s
low crossing at 3.232. Second support is January’s low crossing at 3.100.

CURRENCIES http://quotes.ino.com/exchanges/category.html?c=currencies

The March Dollar was higher due to short covering overnight as it
consolidates some of the decline off January’s high. Stochastics and the RSI
are oversold but are turning neutral hinting that a double bottom with
September’s low might have been posted with last Friday’s low. If March extends
January’s decline, weekly support crossing at 78.60 is the next downside
target. Closes above the 20-day moving average crossing at 79.80 are needed to
confirm that a short-term low has been posted. First resistance is the 10-day
moving average crossing at 79.64. Second resistance is the 20-day moving
average crossing at 79.80. First support is last Friday’s low crossing at
78.91. Second support is weekly support crossing at 78.60.

The March Euro was lower due to profit taking overnight as it consolidates
some of this winter’s rally. Stochastics and the RSI are overbought but are
turning neutral to bearish hinting that a short-term top might be in or is
near. Closes below the 20-day moving average crossing at 133.70 would confirm
that a short-term top has been posted. If March extends this winter’s rally,
weekly resistance crossing at 138.31 is the next upside target. First
resistance is last Friday’s high crossing at 137.15. Second resistance is
weekly resistance crossing at 138.31. First support is the 10-day moving
average crossing at 134.82. Second resistance is the 20-day moving average
crossing at 133.70.

The March British Pound was slightly higher overnight as it consolidates
some of last Friday’s decline. Stochastics and the RSI are turning neutral to
bullish hinting that a short-term low might be in or is near. Closes above the
20-day moving average crossing at 1.5910 are needed to confirm that a
short-term low has been posted. If March renews January’s decline, the 75%
retracement level of the May-January rally crossing at 1.5598 is the next
downside target. First resistance is the 20-day moving average crossing at
1.5910. Second resistance is the reaction high crossing at 1.6166. First
support is last Monday’s low crossing at 1.5670. Second support is the 75%
retracement level of the May-January rally crossing at 1.5598.

The March Swiss Franc was lower overnight as it consolidates some of
January’s rally. 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 winter’s rally, monthly resistance crossing at .11119 is the
next upside target. Closes below the 20-day moving average crossing at .10846
would confirm that a short-term top has been posted. First resistance is last
Friday’s high crossing at .11080. Second resistance is monthly resistance
crossing at .11119. First support is the 20-day moving average crossing at
.10846. Second support is January’s low crossing at .10657.

The March Canadian Dollar was higher overnight as it extends last week’s
rally. Stochastics and the RSI are bullish signaling that sideways to higher
prices are possible near-term. Closes above the 20-day moving average crossing
at 100.56 are needed to confirm that a short-term low has been posted. If March
renews January’s decline, the 62% retracement level of 2012′s rally crossing at
98.35 is the next downside target. First resistance is the 20-day moving
average crossing at 100.56. Second resistance is the reaction high crossing at
100.85. First support is last Monday’s low crossing at 98.89. Second support is
the 62% retracement level of 2012′s rally crossing at 98.35.

The March Japanese Yen was lower overnight as it extends this winter’s
decline. Stochastics and the RSI are oversold but remain neutral to bearish
signaling that additional weakness is possible near-term. If March extends the
decline off September’s high, monthly support crossing at .10702 is the next
downside target. Closes above the 20-day moving average crossing at .11149 are
needed to confirm that a short-term low has been posted. First resistance is
the 10-day moving average crossing at .11018. Second resistance is the 20-day
moving average crossing at .11149. First support is the overnight low crossing
at .10734. Second support is monthly support crossing at .10702.

PRECIOUS METALS http://quotes.ino.com/exchanges/?c=metals

April gold was lower overnight and the low-range close sets the stage for a
steady to lower opening when the day session begins trading. Stochastics and
the RSI are turning neutral signaling that sideways to lower prices are
possible near-term. If April renews the decline off January’s high, January’s
low crossing at 1627.90 is the next downside target. If April renews the rally
off last Monday’s low, the October-November downtrend line crossing near
1699.10 is the next upside target. First resistance is the October-November
downtrend line crossing near 1697.40. Second resistance is January’s high
crossing at 1699.90. First support is last Monday’s low crossing at 1653.20.
Second support is January’s low crossing at 1627.90.

March silver was lower overnight. Stochastics and the RSI have turned
neutral signaling that sideways trading is possible near-term. Closes above the
reaction high crossing at 32.485 are needed to renew the rally off January’s
low. If March renews the decline off January’s high, January’s low crossing at
29.240 is the next downside target. First resistance is January’s high crossing
at 32.365. Second resistance is the reaction high crossing at 32.600. First
support is last Monday’s low crossing at 30.745. Second support is January’s
low crossing at 29.240.

March copper was lower overnight as it consolidates some of the rally off
November’s low. Stochastics and the RSI are overbought but remain neutral to
bullish signaling that sideways to higher prices are possible near-term. If
March extends the aforementioned rally, October’s high crossing at 382.90 is
the next upside target. Closes below the 20-day moving average crossing at
368.54 would confirm that a short-term top has been posted. First resistance is
the overnight high crossing at 379.25. Second resistance is October’s high
crossing at 382.90. First support is the 20-day moving average crossing at
368.54. Second support is January’s low crossing at 359.95.

FOOD & FIBER http://quotes.ino.com/exchanges/category.html?c=food

March coffee close higher on Friday as it extends this week’s trading range.
The mid-range close set the stage for a steady opening on Monday. Stochastics
and the RSI are bearish signaling that sideways to lower prices are possible
near-term. If March renews the decline off January’s high, the reaction low
crossing at 14.12 is the next downside target. Closes above the 20-day moving
average crossing at 15.01 would temper the bearish outlook.

March cocoa closed lower on Friday and the mid-range close sets the stage
for a steady opening on Monday. Stochastics and the RSI have turned bullish
signaling that a low might be in or is near. Closes above the 20-day moving
average crossing at 22.28 would confirm that a low has been posted. If March
renews the decline off September’s high, the 87% retracement level of the
June-September rally crossing at 21.45 is the next downside target.

March sugar closed higher on Friday and the high-range close set the stage
for a steady to higher opening on Monday. Stochastics and the RSI are bullish
signaling that sideways to higher prices are possible near-term. If March
extends today’s rally, the reaction high crossing at 19.19 is the next upside
target. If March renews this year’s decline, the 75% retracement level of the
2010-2011 rally crossing at 17.38 is the next downside target.

March cotton closed higher on Friday and the mid-range close sets the stage
for a steady to higher opening on Monday. Stochastics and the RSI are diverging
but are 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 2012-decline crossing at 86.50 is the next upside target. Closes
below the 20-day moving average crossing at 78.65 are needed to confirm that a
short-term top has been posted.
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GRAINS http://quotes.ino.com/exchanges/category.html?c=grains

March corn was higher in overnight trading but remains below the 38%
retracement level of the August-January decline crossing at 7.42. The
high-range close sets the stage for a steady to higher opening when the day
session begins trading. Stochastics and the RSI are overbought and are turning
neutral to bearish hinting that a short-term top might be in or is near. If
March extends the rally off January’s low, the 50% retracement level of the
August-January decline crossing at 7.61 3/4 is the next upside target. Closes
below the 20-day moving average crossing at 7.21 would confirm that a
short-term top has been posted. First resistance is last Friday’s high crossing
at 7.46 1/4. Second resistance is the 50% retracement level of the
August-January decline crossing at 7.61 3/4. First support is the 20-day moving
average crossing at 7.21. Second support is the reaction low crossing at 6.86
1/4.

March wheat was higher due to short covering overnight as it consolidates
some of last Friday’s decline. The mid-range close sets the stage for a steady
to higher opening when the day session begins trading. Stochastics and the RSI
have turned bearish signaling that sideways to lower prices are possible
near-term. If March extends last Friday’s decline, January’s low crossing at
7.36 1/4 is the next downside target. If March renews the rally off January’s
low, the 38% retracement level of the November-January decline crossing at 8.10
1/2 is the next upside target. First resistance is the 38% retracement level of
the November-January decline crossing at 8.10 1/2. Second resistance is the 50%
retracement level of the November-January decline crossing at 8.33 1/4. First
support is the overnight low crossing at 7.64. Second support is January’s low
crossing at 7.36 1/4.

March Kansas City Wheat closed down 15 3/4-cents at 8.22.

March Kansas City wheat closed lower on Friday and below the 20-day moving
average crossing at 8.24 1/4 confirming that a short-term top has been posted.
The low-range close sets the stage for a steady to lower opening on Monday.
Stochastics and the RSI are turning neutral to bearish signaling that sideways
to lower prices are possible near-term. If March renews the decline off
January’s high, the gap crossing at 8.16 is the next downside target. Closes
above January’s high crossing at 8.47 would confirm that a short-term low has
been posted. First resistance is the reaction high crossing at 8.47. Second
resistance is the 38% retracement level of the November-January decline
crossing at 8.53. First support is last Thursday’s low crossing at 8.29 1/2.
Second support is January’s low crossing at 7.89 3/4.

March Minneapolis wheat was higher overnight as it extends January’s trading
range. The high-range close sets the stage for a steady to higher opening when
the day session begins to trade. Stochastics and the RSI are bearish signaling
that sideways to lower prices are possible near-term. If March renews the
decline off January’s high, January’s low crossing at 8.30 is the next downside
target. If March renews the rally off January’s low, the reaction high crossing
at 9.11 1/2 is the next upside target. First resistance is the reaction high
crossing at 8.82 1/4. Second resistance is the reaction high crossing at 9.11
1/2. First support is the reaction low crossing at 8.52 1/4. Second support is
January’s low crossing at 8.30.

SOYBEAN COMPLEX

March soybeans were higher overnight as it extends the rally off January’s
low. The high-range close sets the stage for steady to higher prices 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 March extends the aforementioned rally, the
38% retracement level of the September-January decline crossing at 14.95 1/4 is
the next upside target. Closes below the 20-day moving average crossing at
14.30 1/2 would confirm that a short-term top has been posted. First resistance
is the overnight high crossing at 14.90 3/4. Second resistance is the 38%
retracement level of the September-January decline crossing at 14.95 1/4. First
support the 20-day moving average crossing at 14.30 1/2. Second support is the
reaction low crossing at 14.15.

March soybean meal was higher overnight and trading above the
September-December downtrend line crossing near 427.70. The high-range close
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. Multiple
closes above last Thursday’s high crossing at 434.40 are needed to confirm an
upside breakout of the September-December downtrend line while opening the door
for a possible test of the 38% retracement level of the September-January
decline crossing at 440.40. First resistance is last Thursday’s high crossing
at 434.40. Second resistance is the 38% retracement level of the
September-January decline crossing at 440.40. First support is the 20-day
moving average crossing at 417.40. Second support is the reaction low crossing
at 408.00.

March soybean oil was higher overnight and trading above the 50% retracement
level of the September-November decline crossing at 53.13 as it extends the
rally off November’s low. The high-range close sets the stage for a steady to
higher opening when the day session begins trading. Stochastics and the RSI are
overbought, diverging but are neutral to bullish signaling that sideways to
higher prices are possible near-term. If March extends the rally off December’s
low, the 62% retracement level of the September-November decline crossing at
54.49 is the next upside target. Closes below the 20-day moving average
crossing at 51.40 are needed to confirm that a short-term top has been posted.
First resistance is last Friday’s high crossing at 53.57. Second resistance is
the 62% retracement level of the September-November decline crossing at 54.49.
First support is the 10-day moving average crossing at 52.41. Second support is
the 20-day moving average crossing at 51.40.

LIVESTOCK http://quotes.ino.com/exchanges/?c=livestock

April hogs closed down $0.60 at $88.75.

April hogs closed lower on Friday and the low-range close sets the stage for
a steady to lower opening when Monday’s night session begins trading.
Stochastics and the RSI are turning neutral to bearish with today’s decline
signaling that sideways to lower prices are possible near-term. Closes below
last Wednesday’s low crossing at 87.10 would confirm that a top has been
posted. If April extends the rally off January’s low, the reaction high
crossing at 90.90 is the next upside target. First resistance is the reaction
high crossing at 90.90. Second resistance is the reaction high crossing at
91.82. First support is last Wednesday’s low crossing at 87.10. Second
resistance is the reaction low crossing at 86.90.

April cattle closed down $0.62 at 132.17.

April cattle closed lower on Friday as it consolidated some of the rally off
January’s low. The low-range close sets the stage for a steady to lower opening
when Monday’s night session begins trading. Stochastics and the RSI remain
neutral to bullish signaling that sideways to higher prices are possible
near-term. Closes above the 20-day moving average crossing at 133.18 are needed
to confirm that a short-term low has been posted. If April renews the decline
off January’s high, last June’s low crossing at 127.55 is the next downside
target. First resistance is the 20-day moving average crossing at 133.18.
Second resistance is the reaction high crossing at 135.17. First support is
Monday’s gap crossing at 131.25. Second support is the reaction low crossing at
129.45.

March feeder cattle closed down $0.35 at $149.20.

March Feeder cattle closed lower on Friday and the low-range close sets the
stage for a steady to lower opening when Monday’s night session begins trading.
Stochastics and the RSI remain bullish signaling that sideways to higher prices
are possible near-term. Closes above the 20-day moving average crossing at
150.22 are needed to confirm that a short-term low has been posted. If March
renews the decline off January’s high, weekly support low crossing at 141.30 is
the next downside target. First resistance is the 20-day moving average
crossing at 150.22. Second resistance is the reaction high crossing at 153.70.
First support is the reaction low crossing at 144.65. Second support is weekly
support crossing at 141.30.

_____________________________________________________________________

T H A N K   Y O U
_____________________________________________________________________

Copyright 2012 INO.com. All Rights Reserved.

Key Market Reports and Commentary for Monday 28/01/2013

M O N D A Y   M O R N I N G   E X T R E M E   M A R K E T S
A complimentary service from INO.com ( http://www.ino.com/ )
KEY EVENTS TO WATCH FOR:
Monday, January 28, 2013
8:30 AM ET. Dec Advance Report on Durable Goods

Total Orders (previous +0.7%)

Orders, Ex-Defense (previous +0.8%)

Orders, Ex-Transportation (previous +1.6%)

8:30 AM ET. Dec Chicago Fed Midwest Manufacturing Index

Manufacturing Index (MoM) (previous +1.6%)

Manufacturing Index (YoY) (previous +7.3%)

Auto Output Index (MoM) (previous +3.6%)

Auto Output Index (YoY) (previous +17.9%)

Machinery Output Index (MoM) (previous +0.2%)

Machinery Output Index (YoY) (previous +3.4%)

Resource Output Index (MoM) (previous +0.7%)

Resource Output Index (YoY) (previous +1.9%)

Steel Output Index (MoM) (previous +0.9%)

Steel Output Index (YoY) (previous +4%)

10:00 AM ET. Dec Pending Home Sales Index
Current (previous 106.4)

MoM Pct Change (Current Period) (previous +1.7%)

YoY Pct Change (Current Period) (previous +9.8%)

10:30 AM ET. Jan Texas Manufacturing Outlook Survey

Business Activity Index (previous 6.8)

Manufacturing Production Index (previous 2.7)

Key Events and Commentary available earlier every morning, via MarketClub (http://www.marketclub.com/)

STOCK INDEXES & MARKETS http://quotes.ino.com/exchanges/?c=indexes+

The March NASDAQ 100 closed higher on Friday as it consolidated some of
Thursday’s decline. The high-range close sets the stage for a steady to higher
opening when Monday’s night session begins trading. Stochastics and the RSI are
turning bearish hinting that a short-term top might be in or is near. Closes
below the 20-day moving average crossing at 2714.17 would confirm that a
short-term top has been posted. If March extends the rally off December’s low,
the 87% retracement level of the September-November decline crossing at 2804.15
is the next upside target. First resistance is Wednesday’s high crossing at
2764.00. Second resistance is the 87% retracement level of the
September-November decline crossing at 2804.15. First support is the 20-day
moving average crossing at 2714.17. Second support is the January 2nd gap
crossing at 2665.00.

The March S&P 500 closed higher on Friday as it extends this year’s rally.
The high-range close sets the stage for a steady to higher opening when
Monday’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, weekly
resistance crossing at 1526.50 is the next upside target. Closes below the
20-day moving average crossing at 1460.03 would confirm that a short-term top
has been posted. First resistance is today’s high crossing at 1498.70. Second
resistance is weekly resistance crossing at 1526.50. First support is the
10-day moving average crossing at 1478.64. Second support is the 20-day moving
average crossing at 1460.03.

The Dow close higher on Friday as it extends the rally off November’s low.
The high-range close sets the stage for a steady to higher opening on Monday.
Stochastics and the RSI are overbought but remain neutral to bullish signaling
that sideways to higher prices are possible near-term. If the Dow extends the
rally off November’s low, weekly resistance crossing at 14,021 is the next
upside target. Closes below the 20-day moving average crossing at 13,472 are
needed to confirm that a short-term top has been posted. First resistance is
today’s high crossing at 13,889. Second resistance is monthly resistance
crossing at 14,021. First support is the 10-day moving average crossing at
13,648. Second support is the 20-day moving average crossing at 13,472.

______________________________

_______________________________________

INTEREST RATES http://quotes.ino.com/exchanges/?c=interest

March T-bonds closed down 1-23/32′s at 144-04.

March T-bonds closed sharply lower on Friday and below the reaction low
crossing at 144-28 confirming that this month’s corrective rally has ended. The
low-range close sets the stage for a steady to lower opening on Monday.
Stochastics and the RSI are turning neutral to bearish with today’s decline
signaling that sideways to lower prices are possible near-term. If March renews
the decline off November’s high, September’s low crossing at 143-08 is the next
downside target. Multiple closes above the reaction high crossing at 146-17 are
needed to confirm that a short-term low has been posted. First resistance is
the reaction high crossing at 146-17. Second resistance is the January 2nd gap
crossing at 146-23. First support is this month’s low crossing at 143-17.
Second support is September’s low crossing at 143-08.

ENERGY MARKETS http://quotes.ino.com/exchanges/category.html?c=energy

March crude oil posted an inside day with a slightly higher close on Friday.
The mid-range close sets the stage for a steady to higher opening when Monday’s
night session begins. Stochastics and the RSI are overbought and are turning
neutral to bearish hinting that a short-term top might be in or is near. If
March extends this month’s rally, the 75% retracement level of the
September-November decline crossing at 97.80 is the next upside target. Closes
below the 20-day moving average crossing at 94.15 would confirm that a
short-term top has been posted. First resistance is Wednesday’s high crossing
at 96.98 Second resistance is the 75% retracement level of the
September-November crossing at 97.80. First support is the 10-day moving
average crossing at 95.28. Second support is the 20-day moving average crossing
at 94.15.

March heating oil closed lower due to profit taking on Friday as it
consolidates some of the rally off last week’s low. The low-range close sets
the stage for a steady to lower opening when Monday’s night session begins
trading. Stochastics and the RSI are bullish signaling that sideways to higher
prices are possible near-term. If March extends the rally off December’s low,
the reaction high crossing at 309.37 is the next upside target. Closes below
the 20-day moving average crossing at 303.05 would temper the near-term
friendly outlook. First resistance is the reaction high crossing at 309.37.
Second resistance is October’s high crossing at 315.01. First support is the
20-day moving average crossing at 303.05. Second support is the reaction low
crossing at 297.95.

March unleaded gas closed higher on Friday and above September’s high
crossing at 287 53 it extends the rally off December’s low. The high-range
close sets the stage for a steady to higher opening when Monday’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, last March’s high crossing at 295.13 is the
next upside target. Closes below the 20-day moving average crossing at 279.43
would confirm that a short-term top has been posted. First resistance is
today’s high crossing at 289.95. Second resistance is last March’s high
crossing at 295.13. First support is the 20-day moving average crossing at
279.43. Second support is last Wednesday’s low crossing at 271.17.

March Henry natural gas closed higher due to short covering on Friday as it
consolidates some of Thursday’s decline. The high-range close sets the stage
for a steady to higher opening on Monday. Stochastics and the RSI have turned
bearish hinting that a short-term top might be in or is near. Closes below the
20-day moving average crossing at 3.380 would confirm that a short-term top has
been posted. If March extends this month’s rally, the 62% retracement level of
the October-January decline crossing at 3.669 is the next upside target. First
resistance is the 50% retracement level of the October-January decline crossing
at 3.551. Second resistance is the 62% retracement level crossing at 3.669.
First support is the 20-day moving average crossing at 3.380. Second support is
the reaction low crossing at 3.331.

CURRENCIES http://quotes.ino.com/exchanges/category.html?c=currencies

The March Dollar closed lower on Friday and the low-range close sets the
stage for a steady to lower opening on Monday. Stochastics and the RSI are
turning neutral to bearish signaling that sideways to lower prices are possible
near-term. If March extends the rally off last week’s low, the reaction high
crossing at 80.79 is the next upside target. If March renews this month’s
decline, December’s low crossing at 79.01 is the next downside target. First
resistance is the reaction crossing at 80.79. Second resistance is December’s
high crossing at 81.05. First support is last Monday’s low crossing at 79.40.
Second support is December’s low crossing at 79.01.

The March Euro closed higher on Friday and broke out to the topside of the
trading range of the past two weeks thereby renewing this winter’s rally. The
high-range close sets the stage for a steady to higher opening on Monday.
Stochastics and the RSI are overbought but remain neutral to bullish signaling
that sideways to higher prices are possible near-term. If March renews this
month’s rally, weekly resistance crossing at 134.94 is the next upside target.
Closes below the 20-day moving average crossing at 132.54 would confirm that a
short-term top has been posted. First resistance is today’s high crossing at
134.85. Second resistance is weekly resistance crossing at 134.94. First
support is the 20-day moving average crossing at 132.54. Second support is this
month’s low crossing at 130.46.

The March British Pound closed higher due to short covering on Friday as it
consolidates some of this month’s decline. The high-range close sets the stage
for a steady to higher opening when Monday’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 this
month’s decline, the 62% retracement level of 2012′s rally crossing at 1.5723
is the next downside target. Closes above the 20-day moving average crossing at
1.6029 are needed to confirm that a short-term low has been posted. First
resistance is the 10-day moving average crossing at 1.5937. Second resistance
the 20-day moving average crossing at 1.6029. First support is today’s low
crossing at 1.5741. Second support is the 62% retracement level of 2012′s rally
crossing at 1.5723.

The March Swiss Franc closed higher due to short covering on Friday as it
extends the rally off Monday’s low. The mid-range close sets the stage for a
steady to higher opening when Monday’s night session begins trading.
Stochastics and the RSI are bullish hinting that a low might be in or is near.
Closes above the 20-day moving average crossing at .10834 would confirm that a
short-term low has been posted. If March renews this month’s decline, the 50%
retracement level of the July-December rally crossing at .10571 is the next
downside target. First resistance is the 20-day moving average crossing at
.10834. Second resistance is the reaction high crossing at .10986. First
support is the reaction low crossing at .10657. Second support is the 50%
retracement level of the July-December rally crossing at .10571.

The March Canadian Dollar closed lower on Friday and below November’s low
crossing at 99.19 as it extends this month’s decline. The mid-range close sets
the stage for a steady opening when Monday’s night session begins trading.
Stochastics and the RSI are oversold but remain bearish signaling that sideways
to lower prices are possible near-term. If March extends this month’s decline,
the 50% retracement level of the 2011-2012-rally crossing at 98.34 is the next
downside target. Closes above the 20-day moving average crossing at 100.82
would confirm that a short-term low has been posted. First resistance is the
20-day moving average crossing at 100.82. Second resistance is this month’s
high crossing at 101.75. First support is today’s low crossing at 98.89. Second
support is the 50% retracement level of the 2011-2012-rally crossing at 98.34.

The March Japanese Yen closed lower on Friday as it renewed the decline off
September’s high. The low-range close sets the stage for a steady to lower
opening when Monday’s night session begins trading. Stochastics and the RSI are
diverging but are turning neutral to bearish again signaling that additional
weakness is possible near-term. If March extends the decline off September’s
high, monthly support crossing at .10702 is the next downside target. Closes
above the 20-day moving average crossing at .11330 are needed to confirm that a
short-term top has been posted. First resistance is the 20-day moving average
crossing at .11330. Second resistance is the reaction high crossing at .11522.
First support is today’s low crossing at .10969. Second support is monthly
support crossing at .10702.

PRECIOUS METALS http://quotes.ino.com/exchanges/?c=metals

April gold closed sharply lower on Friday as it extends yesterday’s breakout
below the 20-day moving average. The low-range close sets the stage for a
steady to lower opening when Monday’s night session begins trading. Stochastics
and the RSI are turning bearish signaling that sideways to lower prices are
possible near-term. If April extends this week’s decline, this month’s low
crossing at 1627.90 is the next downside target. Closes above the reaction high
crossing at 1697.20 are needed to confirm that a trend change has taken place.
First resistance is the reaction high crossing at 1697.20. Second resistance is
the reaction high crossing at 1726.70. First support is this month’s low
crossing at 1627.90. Second support is the 75% retracement level of the
May-October rally crossing at 1604.60.

March silver closed lower on Friday and below the 10-day moving average
crossing at 31.586 signaling that a short-term top is in or near. The low-range
close set the stage for a steady to lower opening when Monday’s night session
begins trading. Stochastics and the RSI are overbought and are turning bearish
signaling that sideways to lower prices are possible near-term. Closes below
the 20-day moving average crossing at 30.984 would confirm that a short-term
top has been posted. If March renews this month’s rally, the reaction high
crossing at 32.600 is the next upside target. First resistance is Wednesday’s
high crossing at 32.485. Second resistance is the reaction high crossing at
32.600. First support is the 20-day moving average crossing at 30.984. Second
support is the reaction low crossing at 29.240.

March copper closed lower on Friday and below the 10-day moving average
crossing at 365.94 signaling that a short-term top has been posted. The
low-range close sets the stage for a steady to lower opening when Monday’s
night session begins trading. Stochastics and the RSI are turning neutral to
bearish signaling that sideways to lower prices are possible near-term. If
March renews the decline off this month’s high, the reaction low crossing at
358.15 is the next downside target. First resistance is the reaction high
crossing at 371.80. Second resistance is this month’s high crossing at 375.90.
First support is last Wednesday’s low crossing at 359.95. Second support is the
reaction low crossing at 358.15.

FOOD & FIBER http://quotes.ino.com/exchanges/category.html?c=food

March coffee close higher due to short covering on Friday as it consolidates
some of this week’s decline but remains below the 20-day moving average
crossing at 14.97. The high-range close set the stage for a steady to higher
opening on Monday. Stochastics and the RSI are bearish signaling that sideways
to lower prices are possible near-term. If March extends this week’s decline,
the reaction low crossing at 14.12 is the next downside target. Closes above
the 10-day moving average crossing at 15.17 would temper the bearish outlook.

March cocoa closed lower on Friday as it extends this week’s decline. The
low-range close sets the stage for a steady to lower opening on Monday.
Stochastics and the RSI are bearish signaling that sideways to lower prices are
possible near-term. If March extends the decline off September’s high, the 87%
retracement level of the June-September rally crossing at 21.45 is the next
downside target. Closes above the 10-day moving average crossing at 22.43 would
confirm that a low has been posted.

March sugar closed lower on Friday and the low-range close set the stage for
a steady to lower opening on Monday. Stochastics and the RSI are turning
bullish hinting that a low might be in or is near. Closes above the 20-day
moving average crossing at 18.83 are needed to confirm that a short-term low
has been posted. If March extends this year’s decline, the 75% retracement
level of the 2010-2011 rally crossing at 17.38 is the next downside target.

March cotton closed sharply lower due to profit taking on Friday as it
consolidated some of the rally off November’s low. The low-range close sets the
stage for a steady to lower opening on Monday. Stochastics and the RSI are
overbought and are turning neutral to bearish hinting that a short-term top
might be in or is near. Closes below the 20-day moving average crossing at
76.86 are needed to confirm that a short-term top has been posted. If March
extends this month’s rally, the 62% retracement level of the 2012-decline
crossing at 86.50 is the next upside target.
——————————

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Free Video Seminar – “Avoiding Common Trading Pitfalls”

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GRAINS http://quotes.ino.com/exchanges/category.html?c=grains

March Corn closed down 3 1/2-cents at 7.20 3/4.

March corn closed lower on Friday as it consolidates below the
August-November downtrend line. The low-range close sets the stage for a steady
to lower opening when Monday’s night session begins trading. Stochastics and
the RSI are overbought and are turning neutral to bearish signaling that
sideways to lower prices are possible near-term. Closes below the 20-day moving
average crossing at 7.07 3/4 would confirm that a short-term top has been
posted. Closes above the reaction high crossing at 7.35 would confirm a trend
change while opening the door for a possible test of the 38% retracement level
of the August-January decline crossing at 7.41 3/4. First resistance is the
reaction high crossing at 7.35. Second resistance is the 38% retracement level
of the August-January decline crossing at 7.41 3/4. First support is the 20-day
moving average crossing at 7.07 3/4. Second support is the reaction low
crossing at 6.86 1/4.

March wheat closed up 8-cents at 7.76 1/2.

March wheat closed higher due to short covering on Friday as it consolidates
some of this week’s decline. The high-range close sets the stage for a steady
to higher opening when Monday’s night session begins trading. Stochastics and
the RSI are bearish hinting that a short-term top might be in or is near.
Closes below the 20-day moving average crossing at 7.66 3/4 are needed to
confirm that a short-term top has been posted. If March renews the rally off
this month’s low, the 38% retracement level of the November-January decline
crossing at 8.10 1/2 is the next upside target. First resistance is Tuesday’s
high crossing at 7.99 3/4. Second resistance is the 38% retracement level of
the November-January decline crossing at 8.10 1/2. First support is this
month’s low crossing at 7.36 1/4. Second support is the 75% retracement level
of this year’s rally crossing at 7.25 3/4.

March Kansas City Wheat closed up 8-cents at 8.29 1/2.

March Kansas City wheat closed higher due to short covering on Friday as it
consolidates some of this week’s decline. The high-range close sets the stage
for a steady to higher opening on Monday. Stochastics and the RSI are bearish
signaling that sideways to lower prices are possible near-term. If March
extends this week’s decline, the gap crossing at 8.16 is the next downside
target. Closes above Wednesday’s high crossing at 8.38 1/2 would confirm that a
short-term low has been posted. First resistance is the reaction high crossing
at 8.47. Second resistance is the 38% retracement level of the November-January
decline crossing at 8.53. First support is Thursday’s low crossing at 8.29 1/2.
Second support is this month’s low crossing at 7.89 3/4.

March Minneapolis wheat closed up 9 1/2-cents at 8.65.

March Minneapolis wheat closed higher on Friday as it consolidates some of
this week’s decline. The high-range close sets the stage for a steady to higher
opening when Monday’s night session begins to trade. Stochastics and the RSI
are bearish signaling that sideways to lower prices are possible near-term. If
March extends this week’s decline, this month’s low crossing at 8.30 is the
next downside target. If March renews the rally off this month’s low, the
reaction high crossing at 9.11 1/2 is the next upside target. First resistance
is last Friday’s high crossing at 8.82 1/4. Second resistance is the reaction
high crossing at 9.11 1/2. First support is today’s low crossing at 8.52 1/4.
Second support is this month’s low crossing at 8.30.

SOYBEAN COMPLEX

March soybeans closed up 5 3/4-cents at 14.41.

March soybeans closed higher on Friday and the high-range close sets the
stage for a steady to higher opening when Monday’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, December’s high crossing at 15.01 1/4 is the next
upside target. Closes below the 20-day moving average crossing at 14.09 1/2
would signal that a short-term top has been posted. First resistance is
Tuesday’s high crossing at 14.60 3/4. Second resistance is December’s high
crossing at 15.01 1/4. First support is the 20-day moving average crossing at
14.09 1/2. Second support is this month’s low crossing at 13.51 1/2.

March soybean meal closed up $1.70 at $416.40.

March soybean meal closed higher on Friday extending the trading range of
the past two weeks. The high-range close sets the stage for a steady to higher
opening when Monday’s night session begins trading. Stochastics and the RSI
remain neutral to bullish signaling that sideways to higher prices are
possible. If March extends the rally off this month’s low, the reaction high
crossing at 435.80 is the next upside target. Closes below the 20-day moving
average crossing at 413.20 would temper the near-term friendly outlook. If
March renews the decline off September’s high, the 62% retracement level of the
2012 rally crossing at 379.10 is the next downside target. First resistance is
the reaction high crossing at 435.80. Second resistance is December’s high
crossing at 457.90. First support is the 20-day moving average crossing at
413.20. Second support is this month’s low crossing at 392.40.

March soybean oil closed down 1-pts. at 52.10.

March soybean closed lower on Friday and the mid-range close sets the stage
for a steady opening when Monday’s night session begins trading. Stochastics
and the RSI are overbought and are turning neutral to bearish hinting that a
short-term top might be in or is near. Closes below the 20-day moving average
crossing at 50.60 would confirm that a short-term top has been posted. If March
extends the rally off December’s low, the 50% retracement level of the
September-November decline crossing at 53.13 is the next upside target. First
resistance is Tuesday’s high crossing at 52.67. Second resistance is the 50%
retracement level of the September-November decline crossing at 53.13. First
support is the 10-day moving average crossing at 51.37. Second support is the
20-day moving average crossing at 50.60.

LIVESTOCK http://quotes.ino.com/exchanges/?c=livestock

April hogs closed down $0.75 at $88.92.

April hogs closed lower due to profit taking on Friday but remains above the
20-day moving average crossing at 88.70. The low-range close sets the stage for
a steady to lower opening when Monday’s night session begins trading.
Stochastics and the RSI are bullish signaling that sideways to higher prices
are possible near-term. If April extends this week’s rally, the reaction high
crossing at 90.90 is the next upside target. Closes below Wednesday’s low
crossing at 87.10 would confirm that a top has been posted. First resistance is
the reaction high crossing at 90.90. Second resistance is the reaction high
crossing at 91.82. First support is Wednesday’s low crossing at 87.10. Second
resistance is the reaction low crossing at 86.90.

April cattle closed up $0.40 at 130.75.

April cattle were higher on Friday as it extends this week’s short covering
rally. The low-range close sets the stage for a steady to lower opening when
Monday’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 April renews this month’s decline, last June’s low crossing at
127.55 is the next downside target. Closes above the 20-day moving average
crossing at 134.16 would confirm that a short-term low has been posted. First
resistance is the 10-day moving average crossing at 131.91. Second resistance
is the 20-day moving average crossing at 134.16. First support is last Friday’s
low crossing at 129.45. Second support is last June’s low crossing at 127.55.

March feeder cattle closed unchanged at $147.95.

March Feeder cattle closed unchanged on Friday as it consolidated some of
the short covering rally off last Friday’s low. The low-range close sets the
stage for a steady to lower opening when Monday’s night session begins trading.
Stochastics and the RSI are turning bullish hinting that a low might be in or
is near. Closes above the 20-day moving average crossing at 151.47 are needed
to confirm that a short-term low has been posted. If March renews this month’s
decline, weekly support low crossing at 141.30 is the next downside target.
First resistance is the 10-day moving average crossing at 148.37. Second
resistance is the 20-day moving average crossing at 151.47. First support is
last Friday’s low crossing at 144.65. Second support is weekly support crossing
at 141.30.

_____________________________________________________________________

T H A N K   Y O U
_____________________________________________________________________

Copyright 2012 INO.com. All Rights Reserved.