Key Market Reports and Commentary for Monday 22/04/2013

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, April 22, 2013
8:30 AM ET. Mar Chicago Fed National Activity Index

National Activity Index (previous 0.44)

3 Month Moving Average (previous 0.09)

10:00 AM ET. Mar Existing Home Sales

Total Sales (previous 4.98M)

Percent Change (previous +0.8%)

Month’s Supply (previous 4.7)

Median Price (previous 173600)

Median Price – Yearly % Chg (previous +11.6%)

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

U.S. STOCK INDEXES http://quotes.ino.com/exchanges/?c=indexes

The June NASDAQ 100 was higher due to short covering overnight as it
rebounds off last Thursday’s low and at the same time extends the uptrend
channel, which began in November. Stochastics and the RSI are neutral to
bearish signaling that additional strength is needed before these two momentum
indicators turn bullish again. If June extends Thursday’s decline below channel
support crossing at 2744.42, February’s low crossing at 2683.50 is the next
downside target. Closes above the 10-day moving average crossing at 2803.22
would confirm that a short-term low has been posted. First resistance is the
10-day moving average crossing at 2803.22. Second resistance is April’s high
crossing at 2858.50. First support is last Thursday’s low crossing at 2724.00.
Second support is February’s low crossing at 2683.50.

The June S&P 500 was higher due to short covering overnight as it
consolidates some of this month’s decline. Stochastics and the RSI are neutral
to bearish signaling that sideways to lower prices are possible near-term. If
June extends last week’s decline, the reaction low crossing at 1529.60 is the
next downside target. Closes above the 10-day moving average crossing at
1561.46 are needed to confirm that a short-term low has been posted. First
resistance is the 10-day moving average crossing at 1561.46. Second resistance
is April’s high crossing at 1592.50. First support is last Thursday’s low
crossing at 1531.00. Second support is the reaction low crossing at 1529.60.

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June T-bonds was lower overnight as it consolidates some of the rally off
March’s low. Stochastics and the RSI are diverging but remain neutral to
bullish signaling that additional gains are possible near-term. If June extends
the rally off March’s low, December’s high crossing at 149-11 is the next
upside target. Closes below the 20-day moving average crossing at 146-11 would
confirm that a short-term top has been posted. First resistance is December’s
high crossing at 149-11. Second resistance is November’s high crossing at
149-23. First support is the 10-day moving average crossing at 147-14. Second
support is the 20-day moving average crossing at 146-11.

NYMEX CRUDE OIL http://quotes.ino.com/exchanges/?c=energy

May crude oil 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-September 2011 rally crossing at 83.55 is the next downside target.
Closes above the 20-day moving average crossing at 92.75 are needed to confirm
that a short-term low has been posted. First resistance is the 10-day moving
average crossing at 90.21. Second resistance is the 20-day moving average
crossing at 92.75. First support is last Thursday’s low crossing at 85.61.
Second support is the 87% retracement level of the June-September 2011 rally
crossing at 83.55.

May heating oil was higher due to short covering overnight as it
consolidates some of the decline off February’s high. Stochastics and the RSI
are oversold but remain neutral to bearish signaling that sideways to lower
prices are possible near-term. If May extends the decline off February’s high,
the 87% retracement level of the June-February rally crossing at 267.10 is the
next downside target. Closes above the 20-day moving average crossing at 292.43
would confirm that a short-term low has been posted. First resistance is the
10-day moving average crossing at 284.36. Second resistance is the 20-day
moving average crossing at 292.43. First support is last Thursday’s low
crossing at 272.55. Second support is the 87% retracement level of the
June-February rally crossing at 267.10.

May unleaded gas was higher due to short covering overnight as it
consolidates some of the decline off February’s high. Stochastics and the RSI
are oversold but remain neutral to bearish signaling that additional weakness
is possible near-term. If May extends the decline off February’s high, the 75%
retracement level of the June-February rally crossing at 260.76 is the next
downside target. Closes above the 20-day moving average crossing at 290.70 are
needed to confirm that a short-term low has been posted. First resistance is
the 10-day moving average crossing at 280.34. Second resistance is the 20-day
moving average crossing at 290.70. First support is last Thursday’s low
crossing at 270.25. Second support is the 75% retracement level of the
June-February rally crossing at 260.76.

May Henry natural gas was lower due to profit taking overnight as it
consolidated some of the rally off January’s low. Stochastics and the RSI are
diverging but remain neutral to bullish signaling that sideways to higher
prices are possible near-term. If May extends the rally off January’s low,
weekly resistance crossing at 4.602 is the next upside target. Closes below the
20-day moving average crossing at 4.106 would confirm that a short-term top has
been posted. First resistance is last Thursday’s high crossing at 4.4290.
Second resistance is weekly resistance crossing at 4.602. First support is the
10-day moving average crossing at 4.211. Second support is the 20-day moving
average crossing at 4.106.

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

The June Dollar was higher overnight as it extends last week’s breakout
above the 20-day moving average crossing at 82.75. Stochastics and the RSI are
bullish signaling that sideways to higher prices are possible near-term. If
June extends the rally off last week’s low, this month’s high crossing at 83.66
is the next upside target. Closes below the 10-day moving average crossing at
82.53 would confirm that a short-term low has been posted while opening the
door for additional gains near-term. First resistance is the overnight high
crossing at 82.97. Second resistance is this month’s high crossing at 83.66.
First support is last Tuesday’s low crossing at 81.78. Second support is the
50% retracement level of the February-April rally crossing at 81.38.

The June Euro was lower overnight and is poised to extend last Wednesday’s
decline. Stochastics and the RSI are bearish signaling that a short-term top
might be in or is near. Closes below the 20-day moving average crossing at
129.82 would confirm that a short-term top has been posted. If June renews the
rally off this month’s low, the 50% retracement level of the February-April
decline crossing at 132.44 is the next upside target. First resistance is the
50% retracement level of the February-April decline crossing at 132.43. Second
resistance is the 62% retracement level of the February-April decline crossing
at 133.58. First support is the 20-day moving average crossing at 129.82.
Second support is this month’s low crossing at 127.51.

The June British Pound was slightly higher due to short covering overnight
as it consolidates some of last Friday’s decline. Stochastics and the RSI are
bearish signaling that sideways to lower prices are possible near-term. If June
extends last Friday’s decline, the reaction low crossing at 1.5027 is June’s
next downside target. If June renews the rally off March’s low, the 50%
retracement level of the January-March decline crossing at 1.5564 is the next
upside target. First resistance is the 38% retracement level of the
January-March decline crossing at 1.5388. Second resistance is the 50%
retracement level of the January-March decline crossing at 1.5564. First
support is the March-April uptrend line crossing near 1.5180. Second support is
the reaction low crossing at 1.5027.

The June Swiss Franc 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. Closes below the 20-day moving average
crossing at .10669 would confirm that a short-term top has been posted. If June
renews the rally off March’s low, the 75% retracement level of the
February-March decline crossing at .10912 is the next upside target. First
resistance is the 75% retracement level of the February-March decline crossing
at .10912. Second resistance is the 87% retracement level of the February-March
decline crossing at .10987. First support is the overnight low crossing at
.10702. Second support is the 20-day moving average crossing at .10669.

The June Canadian Dollar was higher in quiet trading overnight. Stochastics
and the RSI remain neutral to bearish signaling that sideways to lower prices
are possible near-term. If June extends last week’s decline, March’s low
crossing at 96.46 is the next downside target. Closes above the 20-day moving
average crossing at 98.02 would confirm that a short-term low has been posted.
First resistance is the 20-day moving average crossing at 98.02. Second
resistance is this month’s high crossing at 99.02. First support is last
Wednesday’s low crossing at 96.90. Second support is March’s low crossing at
96.46.

The June Japanese Yen was lower overnight as it extends last week’s decline.
Stochastics and the RSI have turned bearish signaling that sideways to lower
prices are possible near-term. If June renews this year’s decline, monthly
support crossing at .9867 is the next downside target. Closes above the 20-day
moving average crossing at .10334 would confirm that a low has been posted.
First resistance is the 20-day moving average crossing at .10334. Second
resistance is this month’s high crossing at .10809. First support is April’s
low crossing at .10008. Second support is monthly support crossing at .9867.

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

June gold was higher overnight as it extends last week’s rebound off the 50%
retracement level of the 2008-2011-rally crossing at 1374.60. The high-range
close sets the stage for a steady to higher opening when the day session begins
trading. 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 1520.00 are needed to confirm that a short-term top has
been posted. If April renews this month’s decline, monthly support crossing at
1285.60 is the next downside target. First resistance is the 10-day moving
average crossing at 1456.20. Second resistance is the 20-day moving average
crossing at 1520.00. First support is last Tuesday’s low crossing at 1321.50.
Second support is monthly support crossing at 1285.60.

May silver was higher overnight as it extends last week’s trading range.
Stochastics and the RSI are diverging but remain neutral to bearish signaling
that additional weakness is possible near-term. If May extends the
aforementioned decline, monthly support crossing at 18.756 is the next downside
target. Closes above the 20-day moving average crossing at 26.357 are needed to
confirm that a short-term low has been posted. First resistance is the 10-day
moving average crossing at 24.960. Second resistance is the 20-day moving
average crossing at 26.357. First support is last Tuesday’s low crossing at
22.000. Second support is monthly support crossing at 18.756.

May copper was lower overnight as it extends the decline off February’s
high. The mid-range close sets the stage for a steady to lower opening when the
day session begins trading. Stochastics and the RSI remain neutral to bearish
signaling that additional weakness is possible near-term. If May extends the
decline off February’s high, weekly support crossing at 299.40 is the next
downside target. Closes above the 20-day moving average crossing at 333.88 are
needed to confirm that a short-term low has been posted. First resistance is
the 10-day moving average crossing at 328.91. Second resistance is the 20-day
moving average crossing at 333.88. First support is last Thursday’s low
crossing at 306.00. Second support is weekly support crossing at 299.40.

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

May coffee posted a key reversal up on Friday. The high-range close set the
stage for a steady to higher opening on Monday. 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 14.55 would
confirm that a short-term low has been posted. Closes below today’s low would
open the door for a possible test of weekly support crossing 128.25.

May cocoa closed higher on Friday extending the rally off March’s low. The
low-range close sets the stage for a steady to lower 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 May extends the rally
off March’s low, the 50% retracement level of September-March decline crossing
at 23.76 is May’s next upside target. Closes below the 20-day moving average
crossing at 22.05 would confirm that a short-term low has been posted.

May sugar posted a key reversal up and closed higher on Friday. The
high-range close set the stage for a steady to higher opening on Monday.
However, stochastics and the RSI are turning neutral to bearish signaling that
sideways to lower prices are possible near-term. If May extends this week’s
decline, this month’s low crossing at 17.47 is the next downside target. If May
renews the rally off this month’s low, the reaction high crossing at 18.49 is
the next upside target.

May cotton closed unchanged on Friday and 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 May extends the decline off March’s high, the 50%
retracement level of the November-March rally crossing at 82.52 is the next
downside target. Closes above the 20-day moving average crossing at 86.22 are
needed to confirm that a short-term low has been posted.
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GRAINS http://quotes.ino.com/exchanges/category.html?c=grains

May corn was lower overnight as it extends the trading range of the past
eight days. Stochastics and the RSI remain neutral to bullish hinting that a
short-term low might be in or is near. Closes above the reaction high crossing
at 6.66 3/4 are needed to temper the near-term bearish outlook. However, it
will take closes above the April 1st gap crossing at 6.95 1/2 to confirm that a
low has been posted. If May renews this month’s decline, the 75% retracement
level of the 2012 rally crossing at 5.99 3/4 is the next downside target. First
resistance is the reaction high crossing at 6.66 3/4. Second resistance is
April 1st gap crossing at 6.95 1/2. First support is the reaction low crossing
at 6.26 1/2. Second support is the 75% retracement level of the 2012 rally
crossing at 5.99 3/4.

May wheat was lower overnight as it extended the trading range of the past
three weeks. The mid-range close sets the stage for a steady to lower opening
when the day session begins trading. Stochastics and the RSI are bullish
signaling that sideways to higher prices are possible near-term. If May renews
the rally off this month’s low, March’s high crossing at 7.41 3/4 is the next
upside target. If May renews the decline off November’s high, last May’s low
crossing at 6.65 is the next downside target. First resistance is the reaction
high crossing at 7.16. Second resistance is March’s high crossing at 7.41 3/4.
First support is the reaction low crossing at 6.59 3/4. Second support is last
May’s low crossing at 6.65.

May Kansas City Wheat closed up 2 1/4-cents at 7.46.

May Kansas City wheat closed higher on Friday and the high-range close sets
the stage for a steady to higher opening on Monday. Stochastics and the RSI
remain bullish signaling that sideways to higher prices are possible near-term.
If May renews the rally off April’s low, March’s high crossing at 7.76 3/4 is
the next upside target. If May renews this winter’s decline, last May’s low
crossing at 6.75 is the next downside target. First resistance is last Friday’s
high crossing at 7.53 1/2. Second resistance is March’s high crossing at 7.76
3/4. First support is the reaction low crossing at 7.18 1/2. Second support is
this month’s low crossing at 7.09 3/4.

May Minneapolis wheat was lower overnight as it consolidates some of this
month’s rally. 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 overbought
but remain bullish signaling that sideways to higher prices are possible
near-term. If May extends this month’s rally, the 38% retracement level of the
July-April decline crossing at 8.60 is the next upside target. Closes below the
20-day moving average crossing at 7.98 3/4 would confirm that a short-term top
has been posted. First resistance is the 25% retracement level of the
July-April decline crossing at 8.26. Second resistance is the 38% retracement
level of the July-April decline crossing at 8.60. First support is the 20-day
moving average crossing at 7.98 3/4. Second support is April’s low crossing at
7.61 1/4.

SOYBEAN COMPLEX http://quotes.ino.com/exchanges/?c=grains

May soybeans were lower overnight as it consolidates some of the rally off
this month’s low. The high-range close sets the stage for steady to lower
opening when the day session begins trading later this morning. Stochastics and
the RSI remain neutral to bullish signaling that sideways to higher prices are
possible near-term. If May extends the rally off this month’s low, the reaction
high crossing at 14.59 3/4 is the next upside target. Closes below the 20-day
moving average crossing at 14.06 3/4 would confirm that a short-term low has
been posted. First resistance is last Thursday’s high crossing at 14.41 1/2.
Second resistance is the late-March high crossing at 14.59 3/4. First support
is the 20-day moving average crossing at 14.06 3/4. Second support is this
month’s low crossing at 13.54 1/2.

May soybean meal was steady overnight but remains poised to extend the rally
off this month’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
remain bullish signaling that sideways to higher prices are possible near-term.
If May extends last week’s rally the reaction high crossing at 427.00 is the
next upside target. Closes below the 10-day moving average crossing at 402.00
would confirm that a short-term top has been posted. First resistance is last
Thursday’s high crossing at 417.20. Second resistance is the late-March high
crossing at 427.00. First support is the 20-day moving average crossing at
403.30. Second support is the 10-day moving average crossing at 402.00.

May soybean oil was lower overnight as it extends the trading range of the
past two months. The low-range close sets the stage for a steady to lower
opening when the day session begins trading. Stochastics and the RSI are
neutral to bullish signaling that sideways to higher prices are possible
near-term. If May renews last week’s decline, November’s low crossing at 47.85
is the next downside target. Closes above the 20-day moving average crossing at
49.55 would confirm that a low has been posted. First resistance is the 20-day
moving average crossing at 49.55. Second resistance is the reaction high
crossing at 50.23. First support is last Tuesday’s low crossing at 48.00.
Second support is November’s low crossing at 47.85.

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

June hogs closed down $0.40 at $90.20.

June hogs closed lower on Friday as it consolidated some of this week’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 have turned
bullish signaling that sideways to higher prices are possible near-term. If
June extends this week’s rally, this month’s high crossing at 92.70 is the next
upside target. Closes below Monday’s low crossing at 88.22 would confirm that a
short-term top has been posted. First resistance is Thursday’s high crossing at
91.00. Second resistance is this month’s high crossing at 92.70. First support
is Monday’s low crossing at 88.22. Second support is March’s low crossing at
87.20.

June cattle closed down $0.07 at 121.30.

June cattle closed lower on Friday as it consolidated some of this week’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 bullish
signaling that sideways to higher prices are possible near-term. If June
extends this week’s rally, this month’s high crossing at 124.50 is the next
upside target. If June cattle resume this year’s decline, weekly support
crossing at 118.95 is the next downside target. First resistance is Thursday’s
high crossing at 122.00. Second resistance is this month’s high crossing at
124.50. First support is Monday’s low crossing at 119.40. Second support is
weekly support crossing at 118.95.

May feeder cattle closed down $0.85 at $139.20.

May Feeder cattle gapped down and closed lower on Friday, spiking below
March’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
oversold but remain neutral to bearish signaling that sideways to lower prices
are possible near-term. Closes below March’s low crossing at 138.90 would open
the door for additional weakness near-term. Closes above the 20-day moving
average crossing at 142.72 would confirm that a short-term low has been posted.
First resistance is the 20-day moving average crossing at 142.72. Second
resistance is gap resistance crossing at 144.50. First support is today’s low
crossing at 138.80. Second support is weekly support crossing at 133.10.

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T H A N K   Y O U
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Key Market Reports and Commentary for Friday 05/04/2013

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, April 5, 2013
8:30 AM ET. Mar U.S. Employment Report

Non-Farm Payrolls (expected +200K; previous +236K)

Unemployment Rate (expected 7.7%; previous 7.7%)

Average Hourly Earnings (previous 23.82)

Average Hourly Earnings Net Change (expected +0.2; previous +0.04)

Manufacturing Payrolls (previous +14K)

Overall Workweek (previous 34.5)

Overall Workweek Net Change (previous +0.1)

Service Producing Payrolls (previous +169K)

Government Payrolls (previous -10K)

Federal Payrolls (previous +0)

Non-Farm Payrolls (Bench Net Chg)

Private Payroll (previous +246K)

8:30 AM ET. Feb U.S. International Trade in Goods & Services

Deficit (expected -45B; previous -44.45B)

Exports (previous 184.45B)

Exports Percent Change (previous -1.2%)

Imports (previous 228.9B)

Imports Percent Change (previous +1.8%)

3:00 PM ET. Feb Consumer Credit

Monthly Net Change (expected +15B; previous +16.15B)

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

U.S. STOCK INDEXES http://quotes.ino.com/exchanges/?c=indexes

The June NASDAQ 100 was lower overnight as it extends this week’s decline
and is poised to test the bottom of the trading range of the past five weeks,
which crosses at 2748.25. Stochastics and the RSI are bearish signaling that
sideways to lower prices are possible near-term. Multiple closes below the
reaction low crossing at 2748.25 would confirm that a short-term top has been
posted. If June renews the rally off November’s low, last September’s high
crossing at 2872.50 is the next upside target. First resistance is Tuesday’s
high crossing at 2823.00. Second resistance is last September’s high crossing
at crossing at 2872.50. First support is the reaction’s low crossing at
2748.25. Second support is February’s low crossing at 2683.50.

The June S&P 500 was lower overnight as it extends this week’s decline.
Stochastics and the RSI are diverging and have turned bearish signaling that a
short-term top might be in or is near. Closes below the reaction low crossing
at 1529.60 would confirm that a short-term top has been posted. If June extends
this week’s decline the November-February uptrend line crossing near 1537.89 is
the next downside target. If June renews the rally off November’s low, weekly
resistance crossing at 1586.50 is the next upside target. First resistance is
Tuesday’s high crossing at 1568.00. Second resistance is weekly resistance
crossing at 1586.50. First support is Wednesday’s low crossing at 1544.00.
Second support is the November-February uptrend line crossing near 1537.89.

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

June T-bonds was higher overnight as it extends the rally off March’s low.
Stochastics and the RSI are overbought but remain neutral to bullish signaling
that sideways to higher prices are possible near-term. If June extends the
rally off March’s low, the reaction high crossing at 147-08 is the next upside
target. Closes below the 20-day moving average crossing at 143-13 would confirm
that a short-term top has been posted. First resistance is the overnight high
crossing at 146-22. Second resistance is the reaction high crossing at 147-08.
First support is the 10-day moving average crossing at 144-24. Second support
is the 20-day moving average crossing at 143-13.

NYMEX CRUDE OIL http://quotes.ino.com/exchanges/?c=energy

May crude oil was lower overnight as it extends this week’s decline below
the 20-day moving average crossing at 94.19. Stochastics and the RSI are
bearish signaling that additional weakness is possible near-term. If May
extends this week’s decline, the reaction low crossing at 91.84 is the next
downside target. Closes above the 10-day moving average crossing at 95.34 would
confirm that a short-term low has been posted. First resistance is the 20-day
moving average crossing at 94.19. Second resistance is the 10-day moving
average crossing at 95.34. First support is the reaction low crossing at 91.84.
Second support is March’s low crossing at 89.78.

May heating oil was lower overnight as it extends this week’s decline.
Stochastics and the RSI are bearish signaling that sideways to lower prices are
possible near-term. If May extends this week’s decline, November’s low crossing
at 291.83 is the next downside target. Closes above the 20-day moving average
crossing at 301.59 would temper the near-term bearish outlook. First resistance
is the 20-day moving average crossing at 301.59. Second resistance is Tuesday’s
high crossing at 310.44. First support is Thursday’s low crossing at 293.45.
Second support is November’s low crossing at 291.83.

May unleaded gas was lower overnight as it extends the decline off
February’s high. Stochastics and the RSI are oversold but remain bearish
signaling that additional weakness is possible near-term. If May extends the
decline off February’s high, the 50% retracement level of the June-February
rally crossing at 283.98 is the next downside target. Closes above the 20-day
moving average crossing at 307.39 would confirm that a short-term low has been
posted. First resistance is the 10-day moving average crossing at 302.82.
Second resistance is the 20-day moving average crossing at 307.39. First
support is Thursday’s low crossing at 286.79. Second support is the 50%
retracement level of the June-February rally crossing at 283.98.

May Henry natural gas was slightly higher overnight as it consolidates some
of this week’s decline. Stochastics and the RSI are bearish signaling that
additional weakness is possible near-term. Closes below the 20-day moving
average crossing at 3.903 would confirm that a short-term top has been posted.
If May renews the rally off January’s low, the reaction high crossing at 4.290
is the next upside target. First resistance is March’s high crossing at 4.121.
Second resistance is the reaction high crossing at 4.290. First support is the
reaction low crossing at 3.885. Second support is the 20-day moving average
crossing at 3.903.

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

The June Dollar was higher overnight as it consolidated some of Thursday’s
decline. Stochastics and the RSI are bearish signaling that sideways to lower
prices are possible near-term. Closes below the reaction low crossing at 82.25
are needed to confirm that a short-term top has been posted. If June renews the
rally off February’s low, the 75% retracement level of the July-February
decline crossing at 83.75 is the next upside target. First resistance is the
75% retracement level of the July-February decline crossing at 83.75. Second
resistance is the 87% retracement level of the July-February decline crossing
at 84.52. First support is the reaction low crossing at 82.25. Second support
is the 38% retracement level of the February-March rally crossing at 81.83.

The June Euro was lower overnight as it consolidates some of Thursday’s
rally. Stochastics and the RSI are bullish signaling that sideways to higher
prices are possible near-term. If June extends Thursday’s rally, the reaction
high crossing at 130.94 is the next upside target. If June renews the decline
off February’s high, the 62% retracement level of the November-February rally
crossing at 127.37 is the next downside target. First resistance is the
reaction high crossing at 130.94. Second resistance is the reaction high
crossing at 131.43. First support is Thursday’s low crossing at 127.51. Second
support is the 62% retracement level of the November-February rally crossing at
127.37.

The June British Pound was lower overnight as it consolidates some of
Thursday’s rally. Stochastics and the RSI are turning neutral to bullish
signaling that sideways to higher prices are possible near-term. If June renews
the rally off March’s low, the 38% retracement level of the January-March
decline crossing at 1.5388 is the next upside target. Closes below the 20-day
moving average crossing at 1.5100 would signal that a short-term top has been
posted. First resistance is the 25% retracement level of the January-March
decline crossing at 1.5194. Second resistance is the 38% retracement level of
the January-March decline crossing at 1.5388. First support is the 20-day
moving average crossing at 1.5100. Second support is March’s low crossing at
1.4823.

The June Swiss Franc was lower overnight as it consolidates some of
Thursday’s rally. Stochastics and the RSI are bullish signaling that sideways
to higher prices are possible near-term. Closes above the reaction high
crossing at .10673 are needed to confirm that a short-term low has been posted.
If June renews last week’s decline, March’s low crossing at .10463 is the next
downside target. First resistance is the reaction high crossing at .10673.
Second resistance is last Monday’s high crossing at .10738. First support is
last Wednesday’s low crossing at .10476. Second support is March’s low crossing
at .10463.

The June Canadian Dollar was lower overnight as it consolidates some of the
rally off March’s low. Stochastics and the RSI are overbought but remain
neutral to bullish signaling that sideways to higher prices are possible
near-term. If June extends the rally off March’s low, the 50% retracement level
of the January-March decline crossing at 98.98 is the next upside target.
Closes below the 20-day moving average crossing at 97.78 would confirm that a
short-term top has been posted. First resistance is Thursday’s high crossing at
98.83. Second resistance is the 50% retracement level of the January-March
decline crossing at 98.98. First support is the 10-day moving average crossing
at 98.20. Second support is the 20-day moving average crossing at 97.78.

The June Japanese Yen was lower overnight as it extends Thursday’s decline.
Stochastics and the RSI have turned bearish signaling that sideways to lower
prices are possible near-term. If June extends this winter’s decline, monthly
support crossing at .10228 is the next downside target. Closes above the 10-day
moving average crossing at .10606 would confirm that a short-term low has been
posted. First resistance is the 10-day moving average crossing at .10606.
Second resistance is Tuesday’s high crossing at .10809. First support is the
overnight low crossing at .10293. Second support is monthly support crossing at
.10228.

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

April gold was lower overnight 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 trading. Stochastics and the RSI are bearish signaling that
sideways to lower prices are possible near-term. If April extends this week’s
decline, the June 2011 low crossing at 1504.00 is the next downside target.
Closes above the 20-day moving average crossing at 1589.60 would confirm that a
short-term top has been posted. First resistance is the 20-day moving average
crossing at 1589.60. Second resistance is March’s high crossing at 1616.50.
First support is last May’s low crossing at 1538.70. Second support is June
2011′s low crossing at 1504.00.

May silver was higher due to short covering overnight as it consolidates
some of this week’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 winter’s decline, last June’s low crossing at
26.419 is the next downside target. Closes above the 20-day moving average
crossing at 28.406 would confirm that a short-term low has been posted. First
resistance is the 10-day moving average crossing at 27.879. Second resistance
is the 20-day moving average crossing at 28.406. First support is Thursday’s
low crossing at 26.575. Second support is last June’s low crossing at 26.419.

May copper was 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 remain neutral to bearish signaling that sideways to
lower prices are possible near-term. If May extends the decline off February’s
high, the October 2011 low crossing at 311.65 is the next downside target.
Closes above the 20-day moving average crossing at 344.30 are needed to confirm
that a short-term low has been posted. First resistance is the 10-day moving
average crossing at 339.82. Second resistance is the 20-day moving average
crossing at 344.29. First support is Thursday’s low crossing at 330.60. Second
support is October 2011′s low crossing at 311.65.

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

May coffee closed slightly higher on Thursday. The high-range close set the
stage for a steady to higher opening on Friday. Stochastics and the RSI remain
neutral to bullish signaling that sideways to higher prices are possible
near-term. If May extends the rally off March’s low, the reaction high crossing
at 14.48 is the next upside target. Closes below Wednesday’s low crossing at
13.55 would temper the near-term friendly outlook.

May cocoa closed lower on Thursday. The high-range close sets the stage for
a steady to higher opening on Friday. 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 21.38 would confirm that a
short-term top has been posted. If May extends the rally off March’s low, the
reaction high crossing at 22.60 is the next upside target.

May sugar closed higher due to short covering on Thursday as it consolidates
some of the decline off March’s high. The high-range close set 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 May extends the decline off March’s high, weekly support crossing
at 17.11 is the next downside target. Closes above the 20-day moving average
crossing at 18.23 would confirm that a short-term top has been posted.

May 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 are neutral to
bullish signaling that sideways to higher prices are possible near-term. Closes
above the reaction high crossing at 90.27 would temper the near-term bearish
outlook. If May renews the decline off March’s high, the 38% retracement level
of the November-March rally crossing at 85.21 is the next downside target.
——————————

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

May corn was fractionally higher overnight as it consolidates some of this
week’s losses. 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 75% retracement level of the 2012 rally
crossing at 5.99 3/4 is the next downside target. Monday’s gap beginning at
6.79 marks initial resistance. First resistance is Monday’s gap beginning at
6.79. Second resistance is the 20-day moving average crossing at 6.99 1/2.
First support is Thursday’s low crossing at 6.27. Second support is the 75%
retracement level of the 2012 rally crossing at 5.99 3/4.

May wheat was 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 have turned bullish hinting that a low might be in or is near. Closes
above the 20-day moving average crossing at 7.09 1/4 are needed to confirm that
a short-term low has been posted. If May extends the decline off November’s
high, last May’s low crossing at 6.65 is the next downside target. First
resistance is the 20-day moving average crossing at 7.09 1/4. Second resistance
is last Thursday’s high crossing at 7.41 3/4. First support is Monday’s low
crossing at 6.59 3/4. Second support is last May’s low crossing at 6.65.

May Kansas City Wheat closed down 13 1/2-cents at 7.21 3/4.

May Kansas City wheat closed lower on Thursday. The low-range close sets 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 May extends the decline off last week’s high, last May’s low
crossing at 6.75 is the next downside target. Closes above the 20-day moving
average crossing at 7.43 3/4 would confirm that a short-term low has been
posted. First resistance is the 20-day moving average crossing at 7.43 3/4.
Second resistance is last Wednesday’s high crossing at 7.76 3/4. First support
is Monday’s low crossing at 7.09 3/4. Second support is last May’s low crossing
at 6.75.

May Minneapolis wheat was fractionally higher overnight. 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 turning bullish hinting that a low might
be in or is near. Closes above the 20-day moving average crossing at 7.94 1/2
are needed to confirm that a short-term low has been posted. If May renews this
winter’s decline, last May’s low crossing at 7.53 1/2 is the next downside
target. First resistance is the 20-day moving average crossing at 7.94 1/2.
Second resistance is last Wednesday’s high crossing at 8.17. First support is
Monday’s low crossing at 7.61 1/4. Second support is last May’s low crossing at
7.53 1/2.

SOYBEAN COMPLEX http://quotes.ino.com/exchanges/?c=grains

May soybeans were lower overnight as it extends the decline off last
Thursday’s high. The low-range close sets the stage for steady to lower opening
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 May extends the decline off last Thursday’s
high, January’s low crossing at 13.44 is the next downside target. Closes above
the 20-day moving average crossing at 14.24 1/2 are needed to confirm that a
low has been posted. First resistance is the 10-day moving average crossing at
14.08. Second resistance is the 20-day moving average crossing at 14.24 1/2.
First support is the overnight low crossing at 13.59 1/2. Second support is
January’s low crossing at 13.44.

May soybean meal was lower overnight as it extends the decline off March’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 oversold but remain
neutral to bearish signaling that sideways to lower prices are possible
near-term. If May extends the decline off March’s high, January’s low crossing
at 387.80 is the next downside target. Closes above the 20-day moving average
crossing at 415.80 are needed to confirm that a short-term low has been posted.
First resistance is the 10-day moving average crossing at 407.30. Second
resistance is the 20-day moving average crossing at 415.80. First support is
the overnight low crossing at 393.00. Second support is January’s low crossing
at 387.80.

May soybean oil was lower overnight as it extends the decline off last
Wednesday’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 May
extends the decline off last Wednesday’s high, November’s low crossing at 47.85
is the next downside target. Closes above the 20-day moving average crossing at
49.86 would confirm that a short-term low has been posted. First resistance is
the 20-day moving average crossing at 49.86. Second resistance is last week’s
high crossing at 51.03. First support is Thursday’s low crossing at 48.25.
Second support is November’s low crossing at 47.85.

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

April hogs closed up $0.10 at $81.42.

April hogs closed higher on Thursday as it extends the rally off March’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 becoming
overbought but remain bullish signaling that sideways to higher prices are
possible near-term. If April extends the rally off March’s low, the 38%
retracement level of the November-March decline crossing at 82.97 is the next
upside target. Closes below last Monday’s gap crossing at 78.55 would confirm
that a short-term top has been posted. First resistance is today’s high
crossing at 82.40. Second resistance is the 38% retracement level of the
November-March decline crossing at 82.97. First support is last Monday’s gap
crossing at 78.55. Second support is March’s low crossing at 76.90.

April cattle closed down $0.72 at 127.25.

April cattle closed lower on Thursday 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 bearish signaling that a short-term top
might be in or is near. Closes below the 20-day moving average crossing at
127.25 would confirm that a short-term top has been posted. If April renews the
rally off March’s low, the reaction high crossing at 130.80 is the next upside
target. First resistance is Tuesday’s high crossing at 129.05. Second
resistance is March’s high crossing at 130.80. First support is the 20-day
moving average crossing at 127.25. Second support is March’s low crossing at
124.75.

April feeder cattle closed down $0.65 at $143.90.

April Feeder cattle closed lower on Thursday as it consolidates some of the
rally off March’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
overbought but remain neutral to bullish signaling that sideways to higher
prices are possible near-term. If April extends the aforementioned rally, the
reaction high crossing at 146.07 is the next upside target. Closes below the
20-day moving average crossing at 141.10 would confirm that a short-term top
has been posted. First resistance is Monday’s high crossing at 145.60. Second
resistance is the reaction high crossing at 146.07. First support is Monday’s
gap crossing at 143.40. Second support is the 20-day moving average crossing at
141.10.

_____________________________________________________________________

T H A N K   Y O U
_____________________________________________________________________

Copyright 2012 INO.com. All Rights Reserved.

Key Market Reports and Commentary for Monday 18/03/2013

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, March 18, 2013
10:00 AM ET. Jan Regional & State Employment & Unemployment

10:00 AM ET. Mar NAHB Housing Market Index

Housing Market Index (previous 46)

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

U.S. STOCK INDEXES http://quotes.ino.com/exchanges/?c=indexes

The June NASDAQ 100 gapped down and was sharply lower overnight signaling
that a short-term top has likely been posted. 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 2760.88 are needed to confirm that a short-term top has been posted. If June
renews the rally off November’s low, last September’s high crossing at 2872.50
is the next upside target. First resistance is this month’s high crossing at
2817.00. Second resistance is last September’s high crossing at crossing at
2872.50. First support is the 20-day moving average crossing at 2760.88. Second
support is February’s low crossing at 2683.50.

The June S&P 500 index gapped down and was sharply lower overnight.
Stochastics and the RSI are overbought and are turning neutral to bearish
signaling that a short-term top might be in or is near. Closes below the 20-day
moving average crossing at 1524.29 are needed to confirm that a short-term top
has been posted. If June extends the rally off November’s low, weekly
resistance crossing at 1586.50 is the next upside target. First resistance is
last Friday’s high crossing at 1558.60. Second resistance is weekly resistance
crossing at 1586.50. First support is the 20-day moving average crossing at
1524.29. Second support is February’s low crossing at 1481.00.

______________________________

_______________________________________

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

June T-bonds gapped up and was sharply higher overnight as it extends the
rally off this month’s low. 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 142-19 are needed to confirm that a
short-term low has been posted. If June renews this month’s decline, weekly
support crossing at 139-14 is the next downside target. First resistance is the
20-day moving average crossing at 142-18. Second resistance is this month’s
high crossing at 144-29. First support is this month’s low crossing at 140-14.
Second support is weekly support crossing at 139-14.

NYMEX CRUDE OIL

April crude oil was lower overnight as it consolidates some of the rally off
this month’s low. Stochastics and the RSI remain bullish signaling that
sideways to higher prices are possible near-term. If April extends the
aforementioned rally off this month’s low, the reaction high crossing at 94.46
is the next upside target. Closes below the 10-day moving average crossing at
92.06 would temper the near-term friendly outlook. First resistance is the
reaction high crossing at 94.46. Second resistance is the reaction high
crossing at 97.49. First support is the 10-day moving average crossing at
92.06. Second support is the 75% retracement level of the November-February
rally crossing at 89.49.

April heating oil was lower overnight and has renewed the decline off
February’s high. Stochastics and the RSI are diverging but remain neutral to
bearish signaling that additional weakness is possible near-term. If April
extends the decline off February’s high, the 50% retracement level of the
December-February rally crossing at 288.66 is the next downside target. Closes
above the 20-day moving average crossing at 299.84 are needed to confirm that a
short-term low has been posted. First resistance is the 10-day moving average
crossing at 295.19. Second resistance is the 20-day moving average crossing at
299.84. First support is the 50% retracement level of the December-February
rally crossing at 288.66. Second support is the 62% retracement level of the
December-February rally crossing at 280.52.

April unleaded gas was lower overnight. Stochastics and the RSI are neutral
signaling that sideways trading is possible near-term. If April renews the
decline off February’s high, the 38% retracement level of the June-February
rally crossing at 297.66 is the next downside target. Closes above the 20-day
moving average crossing at 317.18 are needed to confirm that a short-term low
has been posted. First resistance is last Monday’s high crossing at 326.72.
Second resistance is the reaction high crossing at 331.96. First support is the
reaction low crossing at 305.90. Second support is the 38% retracement level of
the June-February rally crossing at 297.66.

April Henry natural gas was higher overnight as it extends the rally off
February’s low. Stochastics and the RSI are overbought but remain neutral to
bullish signaling that sideways to higher prices are possible near-term. If
April extends the rally off February’s low, November’s high crossing at 3.997
is the next upside target. Closes below the 20-day moving average crossing at
3.546 are needed to confirm that a short-term top has been posted. First
resistance is the overnight high crossing at 3.938. Second resistance is
November’s high crossing at 3.997. First support is the 10-day moving average
crossing at 3.679. Second support is the 20-day moving average crossing at
3.546.

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

The June Dollar was higher overnight as it consolidates some of last
Friday’s decline. 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 82.30 are needed to confirm that a short-term top has been posted.
If June renews the rally off February’s low, the 75% retracement level of the
July-February decline crossing at 83.75 is the next upside target. First
resistance is the 75% retracement level of the July-February decline crossing
at 83.75. Second resistance is the 87% retracement level of the July-February
decline crossing at 84.52. First support is the 20-day moving average crossing
at 82.30. Second support is the reaction low crossing at 81.74.

The June Euro gapped down and was lower overnight as it extends the decline
off February’s high. Stochastics and the RSI are oversold but are turning
bullish hinting that a low might be in or is near. Closes above the 20-day
moving average crossing at 130.90 are needed to confirm that a low has been
posted. If June extends the decline off February’s high, the 62% retracement
level of the November-February rally crossing at 127.37 is the next downside
target. First resistance is the 20-day moving average crossing at 130.90.
Second resistance is the reaction high crossing at 133.25. First support is the
50% retracement level of the November-February rally crossing at 129.28. Second
support is the 62% retracement level of the November-February rally crossing at
127.37.

The June British Pound was higher overnight and trading above the 20-day
moving average crossing at 1.5096. 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 1.5096 are needed to confirm that a
short-term low has been posted and would open the door for additional
short-term gains. If June renews this year’s decline, weekly support crossing
at 1.4346 is the next downside target. First resistance is the 20-day moving
average crossing at 1.5096. Second resistance is the reaction high crossing at
1.5311. First support is last Tuesday’s low crossing at 1.4823. Second support
is weekly support crossing at 1.4346.

The June Swiss Franc was lower overnight as it consolidates some of last
Friday’s rally. Stochastics and the RSI have turned bullish hinting that a low
might be in or is near. Closes above the 20-day moving average crossing at
.10655 are needed to confirm that a short-term low has been posted. If June
renews the decline off February’s high, the 75% retracement level of the
July-February rally crossing at .10378 is the next downside target. First
resistance is the 20-day moving average crossing at .10655. Second resistance
is the reaction high crossing at .10832. First support is last Thursday’s low
crossing at .10463. Second support is the 75% retracement level of the
July-February rally crossing at .10378.

The June Canadian Dollar was lower in overnight trading as it consolidates
some of the rally off this month’s low but remains above the 20-day moving
average crossing at 97.34. Stochastics and the RSI remain bullish signaling
that sideways to higher prices are possible near-term. If June extends last
week’s rally, the reaction high crossing at 98.18 is the next upside target. If
June renews the decline off January’s high, the 87% retracement level of 2012′s
rally crossing at 96.20 is the next downside target. First resistance is the
reaction high crossing at 98.18. Second resistance is the reaction high
crossing at 99.72. First support is this month’s low crossing at 96.46. Second
support is the 87% retracement level of 2012′s rally crossing at 96.20.

The June Japanese Yen was higher due to short covering overnight as it
consolidates some of this winter’s decline. 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 .10631 are needed
to confirm that a low has been posted. If June extends this winter’s decline,
monthly support crossing at .10228 is the next downside target. First
resistance is the 20-day moving average crossing at .10631. Second resistance
is the reaction high crossing at .11009. First support is last Tuesday’s low
crossing at .10345. Second support is monthly support crossing at .10228.

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

April gold was higher overnight while extending the trading range of the
past four weeks. 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. Closes
above the reaction high crossing at 1619.70 are needed to confirm that a
short-term low has been posted and would open the door for additional gains
into the end of March. If April renews the decline off January’s high, last
May’s low crossing at 1538.70 is the next downside target. First resistance is
the overnight high crossing at 1607.60. Second resistance is the reaction high
crossing at 1619.70. First support is February’s low crossing at 1554.30.
Second support is last May’s low crossing at 1538.70.

May silver was lower overnight while extending the trading range of the past
four weeks. Stochastics and the RSI are turning neutral to bearish signaling
that sideways to lower prices are possible near-term. Closes above the reaction
high crossing at 29.495 are needed to confirm that a short-term low has been
posted. If May renews this winter’s decline, the 87% retracement level of the
June-October rally crossing at 27.529 is the next downside target. First
resistance is last Tuesday’s high crossing at 29.350. Second resistance is the
reaction high crossing at 29.495. First support is the reaction low crossing at
27.925. Second support is the 87% retracement level of the June-October rally
crossing at 27.529.

May copper was sharply lower overnight and trading below key support marked
by November’s low crossing at 343.75. Stochastics and the RSI are diverging and
turning neutral to bearish signaling that sideways to lower prices are possible
near-term. If May renews the decline off February’s high, last July’s low
crossing at 332.00 is the next downside target. Closes above the 20-day moving
average crossing at 353.99 would confirm that a short-term low has been posted.
First resistance is the 20-day moving average crossing at 353.99. Second
resistance is the reaction high crossing at 357.60. First support is the
overnight low crossing at 341.75. Second support is last July’s low crossing at
332.00.

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

May coffee 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 bearish
signaling that sideways to lower prices are possible near-term. If May 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 14.12 would
temper the near-term bearish outlook.

May cocoa closed lower 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 on Monday. Stochastics and the RSI are turning neutral to bearish
hinting that a short-term top might be in or is near. If May extends the rally
off last week’s low, the reaction high crossing at 22.60 is the next upside
target. If May renews the decline off last September’s high, weekly support
crossing at 19.70 is the next downside target.

May 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 overbought but
remain neutral to bullish signaling that sideways to higher prices are possible
near-term. If May extends the rally off February’s low, the reaction high
crossing at 19.38 is the next upside target. Closes below the 20-day moving
average crossing at 18.32 would confirm that a short-term top has been posted.

May cotton closed higher for the fourth day in a row on Friday as it extends
this winter’s rally. The mid-range close sets the stage for a steady opening on
Monday. Stochastics and the RSI are overbought, diverging but are bullish
signaling that sideways to higher prices is possible near-term. If May extends
this winter’s rally, the 75% retracement level of the 2011-2012-decline
crossing at 96.93 is the next upside target. Closes below the 20-day moving
average crossing at 85.83 would confirm that a top has been posted.
——————————

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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

May corn was lower overnight as it consolidates some of the rally off
February’s low. Stochastics and the RSI are overbought but remain neutral to
bullish signaling that sideways to higher prices are possible near-term. If May
corn extends the rally off February’s low, the August-February downtrend line
crossing near 7.25 1/4 is the next upside target. Closes below the 20-day
moving average crossing at 7.01 would signal that a short-term top has been
posted. First resistance is the 25% retracement level of the August-January
decline crossing at 7.18 1/2. Second resistance is the August-February
downtrend line crossing near 7.25 1/4. First support is the 20-day moving
average crossing at 7.01. Second support is February’s low crossing at 6.80
3/4.

May wheat was lower due to light profit taking overnight as it consolidates
some of the rally off this month’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 remain bullish signaling that sideways to higher prices are possible
near-term. If May extends the rally off this month’s low, the reaction high
crossing at 7.52 1/2 is the next upside target. Closes below the 10-day moving
average crossing at 7.05 3/4 would temper the near-term friendly outlook. First
resistance is last Thursday’s high crossing at 7.25 1/2. Second resistance is
the reaction high crossing at 7.52 1/2. First support is the 10-day moving
average crossing at 7.05 3/4. Second support is this month’s low crossing at
6.81.

May Kansas City Wheat closed down 1 1/4-cents at 7.51 1/2.

May Kansas City wheat closed lower on Friday as it consolidates some of the
rally off this month’s low. The high-range close sets 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. Multiple closes above the
20-day moving average crossing at 7.50 1/4 are needed to confirm that a
short-term low has been posted. If May renews the decline off January’s high,
the 87% retracement level of 2012′s rally crossing at 7.10 1/2 is the next
downside target. First resistance is the reaction high crossing at 7.59 1/2.
Second resistance is the reaction high crossing at 7.92. First support is last
Wednesday’s low crossing at 7.24 1/2. Second support is the 87% retracement
level of 2012′s rally crossing at 7.10 1/2.

May Minneapolis wheat was lower overnight but remains above the 87%
retracement level of the June-July rally crossing at 7.86 3/4. 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 bullish hinting that a short-term low
might be in or is near. Closes above the 20-day moving average crossing at 8.01
1/4 are needed to confirm that a short-term low has been posted. If May renews
this winter’s decline, last May’s low crossing at 7.53 1/2 is the next downside
target. First resistance is the 20-day moving average crossing at 8.01 1/4.
Second resistance is the reaction high crossing at 8.11 1/2. First support is
this month’s low crossing at 7.80. Second support is last May’s low crossing at
7.53 1/2.

SOYBEAN COMPLEX

May soybeans were lower overnight as it extends this month’s decline. The
low-range close sets the stage for steady to lower opening when the day session
begins trading later this morning. Stochastics and the RSI remain bearish
signaling that sideways to lower prices are possible near-term. If May extends
this month’s decline, February’s low crossing at 13.93 1/2 is the next downside
target. Closes above the 10-day moving average crossing at 14.54 1/2 would
temper the near-term bearish outlook. Closes above November’s high crossing at
14.99 1/4 or below the reaction low crossing at 13.37 3/4 are needed to confirm
a breakout of this winter’s trading range and point the direction of the next
trending move. First resistance is the 10-day moving average crossing at 14.54
1/2. Second resistance is February’s high crossing at 14.97. First support is
the overnight low crossing at 14.08 3/4. Second support is February’s low
crossing at 13.93 1/2.

May 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 May extends this month’s
decline, February’s low crossing at 402.10 is the next downside target. Closes
above the 10-day moving average crossing at 430.20 would temper the near-term
bearish outlook. First resistance is the 10-day moving average crossing at
430.20. Second resistance is February’s high crossing at 443.90. First support
is the overnight low crossing at 412.60. Second support is February’s low
crossing at 402.10.

May soybean oil was 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 neutral to bullish signaling that sideways to higher prices are
possible near-term. Closes above the reaction high crossing at 50.78 are needed
to confirm that a low has been posted. If May renews the decline off February’s
high, December’s low crossing at 48.40 is the next downside target. First
resistance is the 10-day moving average crossing at 50.00. Second resistance is
the 20-day moving average crossing at 50.31. First support is this month’s low
crossing at 48.67. Second support is December’s low crossing at 48.40.

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

April hogs closed down $1.20 at $79.67.

April hogs closed lower on Friday filling the February 7th gap crossing at
79.65. 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 April renews this winter’s decline, weekly support crossing at
76.65 is the next downside target. Closes above last Friday’s high crossing at
82.25 are needed to confirm that a short-term low has been posted. First
resistance is the 20-day moving average crossing at 81.36. Second resistance is
last Friday’s high crossing at 82.25. First support is last Wednesday’s low
crossing at 78.25. Second resistance is weekly support crossing at 76.65.

April cattle closed down $2.27 at 125.77.

April cattle gapped down and closed lower on Friday. 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 April extends this year’s
decline, weekly support crossing at 124.25 is the next downside target. Closes
above Wednesday’s high crossing at 129.42 are needed to confirm that a low has
been posted. First resistance is Wednesday’s high crossing at 129.42. Second
resistance is the reaction high crossing at 130.80. First support is today’s
low crossing at 125.75. Second support is weekly support crossing at 124.25.

April feeder cattle closed down $2.45 at $139.10.

April Feeder cattle gapped down and closed lower on Friday renewing this
year’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
diverging and are turning neutral to bearish signaling that sideways to lower
prices are possible near-term. If April extends this year’s decline, weekly
support crossing at 138.48 is the next downside target. Closes above the 20-day
moving average crossing at 143.30 are needed to confirm that a short-term low
has been posted. First resistance is the 10-day moving average crossing at
142.15. Second resistance is the 20-day moving average crossing at 143.30.
First support is today’s low crossing at 139.07. 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 Monday 11/03/2013

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, March 11, 2013
10:00 AM ET. Feb Employment Trends Index

US Employment Trends Index (ETI) (previous 109.38)

US Employment Trends Index (ETI) (previous -0.08%)

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

U.S. STOCK INDEXES http://quotes.ino.com/exchanges/?c=indexes

The June NASDAQ 100 was higher 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 June extends the rally off November’s low, last September’s high
crossing at 2872.50 is the next upside target. Closes below the 20-day moving
average crossing at 2753.07 would confirm that a short-term top has been
posted. First resistance is last Friday’s high crossing at 2817.00. Second
resistance is last September’s high crossing at crossing at 2872.50. First
support is the 20-day moving average crossing at 2753.07. Second support is
February’s low crossing at 2683.50.

The June S&P 500 index was lower due to profit taking 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 June extends the rally off November’s low,
weekly resistance crossing at 1586.50 is the next upside target. Closes below
the 20-day moving average crossing at 1514.23 would signal that a short-term
top has been posted. First resistance is last Friday’s high crossing at
1543.60. Second resistance is weekly resistance crossing at 1586.50. First
support is the 20-day moving average crossing at 1514.23. Second support is
February’s low crossing at 1481.00.

______________________________

_______________________________________

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

June T-bonds were higher due to short covering overnight as it consolidates
some of last week’s decline. Stochastics and the RSI are bearish signaling that
sideways to lower prices are possible near-term. If June extends last week’s
decline, weekly support crossing at 139-14 is the next downside target. Closes
above the 10-day moving average crossing at 143-02 would confirm that a
short-term low has been posted. First resistance is the 20-day moving average
crossing at 142-18. Second resistance is the 10-day moving average crossing at
143-02. First support is last Friday’s low crossing at 140-14. Second support
is weekly support crossing at 139-14.

NYMEX CRUDE OIL

April crude oil was lower overnight as it consolidates some of last week’s
short covering rally. 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 93.68 are needed to confirm that a low has been
posted. If June extends the decline off January’s high, the 87% retracement
level of the November-January rally crossing at 87.95 is the next downside
target. First resistance is the 20-day moving average crossing at 93.68. Second
resistance is the reaction high crossing at 94.46. First support is the 75%
retracement level of the November-February rally crossing at 89.49. Second
support is the 87% retracement level of the November-February rally crossing at
87.95.

April heating oil was slightly higher overnight. Stochastics and the RSI
have turned neutral to bullish hinting that a short-term low might be in or is
near. Closes above the 20-day moving average crossing at 306.88 are needed to
confirm that a short-term low has been posted. If April renews the decline off
February’s high, the 50% retracement level of the December-February rally
crossing at 288.66 is the next downside target. First resistance is the
reaction high crossing at 300.24. Second resistance is the 20-day moving
average crossing at 306.88. First support is the 50% retracement level of the
December-February rally crossing at 288.66. Second support is the 62%
retracement level of the December-February rally crossing at 280.52.

April unleaded gas was higher overnight and trading above the 20-day moving
average crossing at 321.09. 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 321.09 are needed to confirm that a short-term low
has been posted. If April renews the decline off February’s high, the 38%
retracement level of the June-February rally crossing at 297.66 is the next
downside target. First resistance is the overnight high crossing at 326.72.
Second resistance is the reaction high crossing at 331.96. First support is
this month’s low crossing at 305.90. Second support is the 38% retracement
level of the June-February rally crossing at 297.66.

April Henry natural gas was slightly lower overnight as it consolidates some
of the rally off February’s low. Stochastics and the RSI are overbought but
remain neutral to bullish signaling that sideways to higher prices are possible
near-term. If April extends the rally off February’s low, January’s high
crossing at 3.670 is the next upside target. Closes below the 20-day moving
average crossing at 3.422 are needed to confirm that a short-term top has been
posted. First resistance is the overnight high crossing at 3.645. Second
resistance is January’s high crossing at 3.670. First support is the 10-day
moving average crossing at 3.520. Second support is the 20-day moving average
crossing at 3.422.

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

The June Dollar was higher overnight as it extends the rally off January’s
low. Stochastics and the RSI are overbought but remain neutral to bullish
signaling that additional short-term gains are possible. If June extends the
rally off February’s low, the 75% retracement level of the July-February
decline crossing at 83.75 is the next upside target. Closes below the 20-day
moving average crossing at 81.75 are needed to confirm that a short-term top
has been posted. First resistance is the 75% retracement level of the
July-February decline crossing at 83.75. Second resistance is the 87%
retracement level of the July-February decline crossing at 84.52. First support
is the 10-day moving average crossing at 82.46. Second support is the 20-day
moving average crossing at 81.75.

The June Euro was slightly lower overnight and remains poised to extend the
decline off February’s high. Stochastics and the RSI are oversold but are
neutral to bearish signaling that sideways to lower prices are possible
near-term. If June extends the aforementioned decline, the 50% retracement
level of the November-February rally crossing at 129.28 is the next downside
target. Closes above the 20-day moving average crossing at 131.87 are needed to
confirm that a low has been posted. First resistance is the 20-day moving
average crossing at 131.87. Second resistance is the reaction high crossing at
133.25. First support is last Friday’s low crossing at 129.64. Second support
is the 50% retracement level of the November-February rally crossing at 129.28.

The June British Pound was lower overnight as it extends this year’s
decline. Stochastics and the RSI are oversold but remain neutral to bearish
signaling that additional weakness is possible near-term. If June 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 1.5229 are needed to confirm
that a short-term low has been posted. First resistance is the 10-day moving
average crossing at 1.5047. Second resistance is the 20-day moving average
crossing at 1.5229. First support is the overnight low crossing at 1.4864.
Second support is weekly support crossing at 1.4857.

The June Swiss Franc was slightly higher due to short covering overnight.
Stochastics and the RSI are oversold but remain neutral to bearish signaling
that sideways to lower prices are possible near-term. If June extends the
decline off February’s high, the 75% retracement level of the July-February
rally crossing at .10378 is the next downside target. Closes above the 20-day
moving average crossing at .10731 would confirm that a short-term low has been
posted. First resistance is the 10-day moving average crossing at .10629.
Second resistance is the 20-day moving average crossing at .10731. First
support is last Friday’s low crossing at .10479. Second support is the 75%
retracement level of the July-February rally crossing at .10378.

The June Canadian Dollar was slightly lower in overnight trading.
Stochastics and the RSI are oversold but are neutral to bearish signaling that
additional weakness is possible near-term. If June extends the decline off
January’s high, the 87% retracement level of 2012′s rally crossing at 96.20 is
the next downside target. Closes above the 20-day moving average crossing at
97.80 are needed to confirm that a short-term low has been posted. First
resistance is the reaction high crossing at 97.60. Second resistance is the
20-day moving average crossing at 97.80. First support is the reaction low
crossing at 96.46. Second support is the 87% retracement level of 2012′s rally
crossing at 96.20.

The June Japanese Yen was lower overnight as it extends this winter’s
decline. Stochastics and the RSI are oversold but remain bearish signaling that
sideways to lower prices are possible near-term. If June extends this winter’s
decline, monthly support crossing at .10228 is the next downside target. Closes
above the 20-day moving average crossing at .10697 are needed to confirm that a
low has been posted. First resistance is the 20-day moving average crossing at
.10697. Second resistance is the reaction high crossing at .11009. First
support is last Friday’s low crossing at .10362. Second support is monthly
support crossing at .10228.

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

April gold was slightly higher overnight as it extends last week’s narrow
trading range. 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 bullish hinting that sideways to higher prices are possible near-term.
Closes above the 20-day moving average crossing at 1596.10 are needed to
confirm that a short-term low has been posted. If April renews the decline off
January’s high, last May’s low crossing at 1538.70 is the next downside target.
First resistance is the 20-day moving average crossing at 1596.10. Second
resistance is the reaction high crossing at 1619.70. First support is
February’s low crossing at 1554.30. Second support is last May’s low crossing
at 1538.70.

May silver was lower overnight as it extends the trading range of the past
three weeks. 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 29.277 are needed to confirm that a short-term low has been posted.
If May renews this winter’s decline, the 87% retracement level of the
June-October rally crossing at 27.529 is the next downside target. First
resistance is the 20-day moving average crossing at 29.277. Second resistance
is the reaction high crossing at 29.495. First support is the reaction low
crossing at 27.925. Second support is the 87% retracement level of the
June-October rally crossing at 27.529.

May copper was lower overnight. Stochastics and the RSI are oversold but
remain neutral to bearish signaling that additional weakness is possible
near-term. If May extends the decline off February’s high, November’s low
crossing at 343.75 is the next downside target. Closes above the 20-day moving
average crossing at 359.79 are needed to confirm that a short-term low has been
posted. First resistance is the 10-day moving average crossing at 352.23.
Second resistance is the 20-day moving average crossing at 359.79. First
support is the reaction low crossing at 347.25. Second support is November’s
low crossing at 343.75.

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

May coffee 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 neutral
to bearish signaling that sideways to lower prices are possible near-term. If
May renews the decline off January’s high, weekly support crossing at 13.20 is
the next downside target. If May renews the rally off February’s low, the
reaction high crossing at 15.36 is the next upside target.

May cocoa closed sharply higher due to short covering on Friday as it
consolidated some of the decline off last September’s high. The high-range
close sets the stage for a steady to higher opening on Monday. Stochastics and
the RSI are oversold but are turning bullish signaling that sideways to higher
prices are possible near-term. Closes above the 20-day moving average crossing
at 21.30 would confirm that a short-term low has been posted. If May extends
the decline off last September’s high, weekly support crossing at 19.70 is the
next downside target.

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

May cotton closed higher on Friday. The low-range close sets the stage for a
steady to lower 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 May extends this winter’s rally, weekly resistance crossing at
90.70 is the next upside target. Closes below the 20-day moving average
crossing at 84.29 would confirm that a top has been posted.
——————————

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

May corn was higher due to short covering overnight as it consolidates some
of last Wednesday’s decline. Stochastics and the RSI are turning neutral to
bullish signaling that sideways to higher prices are possible near-term. If May
corn renews the rally off February’s low, the 25% retracement level of the
August-January decline crossing at 7.18 1/2 is the next upside target. If May
renews the decline off February’s high, the reaction low crossing at 6.78 1/2
is the next downside target. First resistance is the 25% retracement level of
the August-January decline crossing at 7.18 1/2. Second resistance is
February’s high crossing at 7.47 1/2. First support is February’s low crossing
at 6.80 3/4. Second support is January’s low crossing at 6.78 1/2.

May wheat was higher due to short covering overnight as it extends the rally
off last Wednesday’s low. The mid-range close sets the stage for a steady
opening when the day session begins trading. Stochastics and the RSI are
oversold but are turning neutral to bullish signaling that a low might be in or
is near. Closes above the 20-day moving average crossing at 7.19 3/4 are needed
to confirm that a low has been posted. If May extends this winter’s decline,
last May’s low crossing at 6.65 is the next downside target. First resistance
is the 10-day moving average crossing at 7.04. Second resistance is the 20-day
moving average crossing at 7.19 3/4. First support is last Wednesday’s low
crossing at 6.81. Second support is last May’s low crossing at 6.65.

May Kansas City Wheat closed down a 1/4-cents at 7.34 1/4.

May Kansas City wheat closed fractionally lower on Friday. The high-range
close sets 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 May extends the decline off January’s
high, the 87% retracement level of 2012′s rally crossing at 7.10 1/2 is the
next downside target. Closes above the 20-day moving average crossing at 7.63
1/2 are needed to confirm that a short-term low has been posted. First
resistance is the 10-day moving average crossing at 7.40 3/4. Second resistance
is the 20-day moving average crossing at 7.63 1/2. First support is Wednesday’s
low crossing at 7.24 1/2. Second support is the 87% retracement level of 2012′s
rally crossing at 7.10 1/2.

May Minneapolis wheat was higher due to short covering overnight. 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 are turning
bullish hinting that a short-term low might be in or is near. Closes above the
20-day moving average crossing at 8.11 1/2 are needed to confirm that a
short-term low has been posted. If May renews this winter’s decline, last May’s
low crossing at 7.53 1/2 is the next downside target. First resistance is the
10-day moving average crossing at 7.95 1/2. Second resistance is the 20-day
moving average crossing at 8.11 1/2. First support is last Wednesday’s low
crossing at 7.80. Second support is last May’s low crossing at 7.53 1/2.

SOYBEAN COMPLEX

May soybeans were higher overnight. The mid-range close sets the stage for
steady to higher opening when the day session begins trading later this
morning. Stochastics and the RSI are neutral to bullish signaling that sideways
to higher prices are possible near-term. If May extends last week’s rally,
February’s high crossing at 14.97 is the next upside target. Closes above
February’s high crossing at 14.97 or below the reaction low crossing at 13.37
3/4 are needed to confirm a breakout of this winter’s trading range and point
the direction of the next trending move. First resistance is last Friday’s high
crossing at 14.84 3/4. Second resistance is February’s high crossing at 14.97.
First support is the reaction low crossing at 14.20 1/2. Second support is
February’s low crossing at 13.93 1/2.

May soybean meal was higher 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 neutral to bullish signaling that sideways to higher prices are
possible near-term. If May extends the rally off February’s low, December’s
high crossing at 445.00 is the next upside target. Closes below the 20-day
moving average crossing at 426.00 would confirm a short-term top has been
posted. First resistance is February’s high crossing at 443.90. Second
resistance is December’s high crossing at 445.00. First support is the 20-day
moving average crossing at 426.00. Second support is February’s low crossing at
402.10.

May soybean oil was slightly higher overnight. The mid-range close sets the
stage for a steady opening when the day session begins trading. Stochastics and
the RSI are neutral to bullish signaling that sideways to higher prices are
possible near-term. Closes above the 20-day moving average crossing at 50.86
are needed to confirm that a low has been posted. If May renews the decline off
February’s high, December’s low crossing at 48.40 is the next downside target.
First resistance is the 20-day moving average crossing at 50.86. Second
resistance is the reaction high crossing at 53.13. First support is this
month’s low crossing at 48.67. Second support is December’s low crossing at
48.40.

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

April hogs closed up $0.23 at $82.02.

April hogs closed higher on Friday as it extended the short covering rally
off Wednesday’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
have turned bullish signaling that sideways to higher prices are possible
near-term. Closes above the 20-day moving average crossing at 82.60 are needed
to confirm that a short-term low has been posted. If April renews this winter’s
decline, weekly support crossing at 76.65 is the next downside target. First
resistance is today’s high crossing at 82.25. Second resistance is the 20-day
moving average crossing at 82.60. First support is Wednesday’s low crossing at
78.25. Second resistance is weekly support crossing at 76.65.

April cattle closed down $0.75 at 127.55.

April cattle closed lower on Friday as it extends the decline off December’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 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 Tuesday’s high crossing at 130.80 are needed to
confirm that a low has been posted. First resistance is Tuesday’s high crossing
at 130.80. Second resistance is the reaction high crossing at 131.85. First
support is today’s low crossing at 127.20. Second support is last April’s low
crossing at 125.90.

April feeder cattle closed down $1.27 at $141.35.

April Feeder cattle closed lower on Friday extending the decline off
January’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 bearish signaling that sideways to lower prices are possible
near-term. If April extends this year’s decline, weekly support crossing at
138.48 is the next downside target. Closes above the 20-day moving average
crossing at 144.71 are needed to confirm that a short-term low has been posted.
First resistance is Wednesday’s gap crossing at 143.57. Second resistance is
the 20-day moving average crossing at 144.71. First support is today’s low
crossing at 140.95. 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 Monday 14/01/2013

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 14, 2013
No data released

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 slightly higher on Friday and is poised to renew
the rally off December’s low. The mid-range close sets the stage for a steady
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 renews the rally off last week’s low,
the reaction high crossing at 2773.25 is the next upside target. Closes below
the 20-day moving average crossing at 2681.25 would confirm that a short-term
top has been posted. First resistance is last Thursday’s high crossing at
2747.00. Second resistance is the reaction high crossing at 2773.25. First
support is the 20-day moving average crossing at 2681.25. Second support is
last Monday’s low crossing at 2580.00.

The March S&P 500 closed 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 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 1474.53 is the next
upside target. Closes below the 20-day moving average crossing at 1435.03 would
confirm that a short-term top has been posted. First resistance is today’s high
crossing at 1471.00. Second resistance is weekly resistance crossing at
1474.53. First support is the 10-day moving average crossing at 1446.80. Second
support is the 20-day moving average crossing at 1435.04.

The Dow close slightly lower on Friday as it consolidated some of 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, the reaction high crossing at 13,588
is the next upside target. Closes below the 20-day moving average crossing at
13,266 are needed to confirm that a short-term top has been posted. First
resistance is today’s high crossing at 13,486. Second resistance is the
reaction high crossing at 13,558. First support is the 10-day moving average
crossing at 13,332. Second support is the 20-day moving average crossing at
13,266.

______________________________

_______________________________________

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

March T-bonds closed up 20/32′s at 145-15.

March T-bonds 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 bullish hinting that a short-term low might be in or is near. Closes
above the 20-day moving average crossing at 146-15 are needed to confirm that a
short-term low has been posted. If March renews the aforementioned decline,
September’s low crossing at 143-08 is the next downside target. First
resistance is the 10-day moving average crossing at 145-20. Second resistance
is the 20-day moving average crossing at 146-15. First support is last Friday’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

February crude oil closed lower due to profit taking on Friday as it
consolidated some of the rally off November’s low. The high-range close sets
the stage for a steady to higher opening when Monday’s night session begins.
Stochastics and the RSI are overbought but remain neutral to bullish signaling
that sideways to higher prices are possible near-term. If February extends the
aforementioned rally, the 62% retracement level of the September-November
crossing at 95.29 is the next upside target. Closes below the 20-day moving
average crossing at 90.88 would confirm that a short-term top has been posted.
First resistance is Thursday’s high crossing at 94.70. Second resistance is the
62% retracement level of the September-November crossing at 95.29. First
support is the 10-day moving average crossing at 92.87. Second support is the
20-day moving average crossing at 90.88.

February heating oil closed below the 20-day moving average crossing at
301.98 on Friday confirming 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 diverging and are
turning neutral to bearish signaling that sideways to lower prices are possible
near-term. If February extends this week’s decline, the reaction low crossing
at 298.09 is the next downside target. If February renews the rally off
December’s low, October’s high crossing at 317.98 is the next upside target.
First resistance is Thursday’s high crossing at 311.37. Second resistance is
October’s high crossing at 317.98. First support is the reaction low crossing
at 298.09. Second support is December’s low crossing at 290.27.

February unleaded gas closed lower on Friday and below the 20-day moving
average crossing at 274.26 confirming 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
February extends this week’s decline, the reaction low crossing at 269.71 is
the next downside target. Closes above today’s high crossing at 278.79 would
signal that a short-term low has been posted. First resistance is Thursday’s
high crossing at 281.82. Second resistance is September’s high crossing at
286.60. First support is today’s low crossing at 271.80. Second support is the
reaction low crossing at 269.71.

February Henry natural gas closed higher on Friday renewing the rally off
last week’s low. The high-range close sets the stage for a steady to higher
opening on Monday. Stochastics and the RSI are diverging and are neutral to
bearish signaling that additional weakness is possible near-term. If February
renews the decline off November’s high, weekly support crossing at 2.923 is the
next downside target. Closes above the 20-day moving average crossing at 3.340
are needed to confirm that a short-term low has been posted. First resistance
is the 20-day moving average crossing at 3.340. Second resistance is the
reaction high crossing at 3.487. First support is last Wednesday’s low crossing
at 3.050. Second support is weekly support crossing at 2.923.

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

The March Dollar closed lower on Friday as it extended the decline off this
month’s high. The low-range close sets the stage for a steady to lower opening
on Monday. Stochastics and the RSI have turned bearish signaling that sideways
to lower prices are possible near-term. If March extends this week’s decline,
December’s low crossing at 79.01 is the next downside target. Closes above the
10-day moving average crossing at 80.16 would confirm that a short-term low has
been posted. First resistance is the reaction high crossing at 80.99. Second
resistance is December’s high crossing at 81.05. First support is the reaction
low crossing at 79.46. Second support is December’s low crossing at 79.01.

The March Euro closed higher on Friday and above December’s high thereby
renewing 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 have turned
bullish signaling that sideways to higher prices are possible near-term. If
March extends today’s rally, weekly resistance crossing at 134.88 is the next
upside target. Closes below Thursday’s low crossing at 130.46 would confirm
that a short-term top has been posted. First resistance is today’s high
crossing at 133.73. Second resistance is weekly resistance crossing at 134.88.
First support is Thursday’s low crossing at 130.46. Second support is last
Friday’s low crossing at 130.05.

The March British Pound closed lower on Friday as it consolidated some of
Thursday’s 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
turning neutral to bullish signaling that sideways to higher prices are
possible near-term. Closes above the 20-day moving average crossing at 1.6149
are needed to confirm that a short-term low has been posted. If March renews
the decline off last week’s high, November’s low crossing at 1.5828 is the next
downside target. First resistance is the 20-day moving average crossing at
1.6149. Second resistance is January’s high crossing at 1.6314. First support
is last Friday’s low crossing at 1.5945. Second support is November’s low
crossing at 1.5846.

The March Swiss Franc closed higher on Friday as it extends this week’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 bullish
signaling that sideways to higher prices are possible near-term. If March
extends this week’s rally, December’s high crossing at .11026 is the next
upside target. Closes below last Friday’s low crossing at .10760 would confirm
that a short-term top has been posted. First resistance is the reaction high
crossing at .10998. Second resistance is December’s high crossing at .11026.
First support is last Friday’s low crossing at .10760. Second support is
December’s low crossing at .10678.

The March Canadian Dollar closed slightly lower on Friday as it consolidated
some of Thursday’s 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 remain neutral to 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 102.10 is the next upside target. Closes below the reaction
low crossing at 100.62 would confirm that a short-term top has been posted.
First resistance is today’s high crossing at 101.75. Second resistance is the
reaction high crossing at 102.10. First support is the 20-day moving average
crossing at 100.98. Second support is the reaction low crossing at 100.62.

The March Japanese Yen closed lower on Friday as it renewed the decline off
last 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
oversold but are turning neutral to bullish hinting that a short-term. If March
extends the decline off September’s high, monthly support crossing at .11050 is
the next downside target. Closes above the 20-day moving average crossing at
.11641 are needed to confirm that a short-term top has been posted. First
resistance is the 10-day moving average crossing at .11431. Second resistance
is the 20-day moving average crossing at .11641. First support is today’s low
crossing at .11185. Second support is monthly support crossing at .11050.

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

February gold closed lower on Friday and the mid-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. Closes above last Wednesday’s high crossing at 1695.40
are needed to confirm that a low has been posted. If February renews the
decline off November’s high, the 75% retracement level of the May-October rally
crossing at 1603.50 is the next downside target. First resistance is last
Wednesday’s high crossing at 1695.40. Second resistance is the reaction high
crossing at 1725.00. First support is the 62% retracement level of the
May-October rally crossing at 1638.00. Second support is the 75% retracement
level of the May-October rally crossing at 1603.30.

March silver closed lower on Friday as it consolidated some of this week’s
rally. The mid-range close set the stage for a steady to lower opening when
Monday’s night session begins trading. Stochastics and the RSI are bullish
hinting that a short-term low might be in or is near. Multiple closes above the
20-day moving average are needed to confirm that a low has been posted. If
March renews the decline off November’s high, the 75% retracement level of the
June-October rally crossing at 28 670 is the next downside target. First
resistance is the reaction high crossing at 31.535. Second resistance is the
reaction high crossing at 32.600. First support is last Friday’s low crossing
at 29.240. Second support is the 75% retracement level of the June-October
rally crossing at 28 670.

March copper 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 neutral to bearish hinting that a short-term top
might be in or is near. Closes below the 20-day moving average crossing at
364.46 would confirm that a short-term top has been posted. If March renews the
rally off December’s low, October’s high crossing at 382.90 is the next upside
target. First resistance is last Thursday’s high crossing at 375.90. Second
resistance is October’s high crossing at 382.90. First support is the 20-day
moving average crossing at 364.46. Second support is last Monday’s low crossing
at 358.15.

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

March coffee close higher on Friday renewing the rally off December’s low.
The high-range close set the stage for a steady to higher opening on Monday.
Stochastics and the RSI are neutral to 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 15.51 is the next upside target. If March
renews the decline off October’s high, weekly support crossing at 12.90 is the
next downside target.

March cocoa closed lower on Friday. The low-range close sets the stage for a
steady to lower opening on Monday. 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 22.95 are needed to confirm that a short-term 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 as it consolidates some of this month’s
decline. The high-range close set the stage for a steady to higher opening on
Monday. Stochastics and the RSI are turning neutral to bullish signaling that
sideways to higher prices are possible near-term. If March extends today’s
rally, January’s high crossing at 19.75 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 due to short covering on Friday and the mid-range
close sets the stage for a steady to higher opening on Monday. Stochastics and
the RSI are neutral signaling that sideways trading is possible near-term.
Closes above December’s high crossing at 77.10 are needed to renew the rally
off November’s low. If March renews last Friday’s decline, the reaction low
crossing at 73.37 is the next downside target.
——————————

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

March Corn closed up 10-cents at 7.08 3/4.

March corn closed higher on Friday and above the 20-day moving average
crossing at 7.00 3/4 confirms that a short-term low has been posted. The USDA’s
Dec. 1 Grain Stocks estimate suggests that feed usage in the first quarter of
the marketing year was much larger than anticipated. Today’s Supply and Demand
report saw the USDA cut ending stocks to 602 million bushels, despite raising
2012 Crop Production. The USDA lowered its estimate of harvested acres by
346,000, but raised the average U.S. yield to 123.4 bpa, which raised the size
of the crop by 55 million bushels to 10.78 billion. However, the USDA raised
feed usage by 300 million bushels. Slow exports offset some of the reduction –
USDA dropped its estimate by 200 million bushels, which was more than the
marketed anticipated. The USDA lowered carryout of 45 million bushels, which
caught the trade on the wrong side of the market. Profit taking ahead of the
close tempered early session gains and the mid-range close sets the stage for a
steady 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 extended this week’s rally, the reaction high crossing at
7.31 3/4 is the next upside target. If March renews the decline off November’s
high, the 62% retracement level of the May-August rally crossing at 6.38 1/4 is
the next downside target. First resistance is today’s high crossing at 7.23
3/4. Second resistance is the reaction high crossing at 7.31 3/4. First support
is Monday’s low crossing at 6.78. Second support is the 62% retracement level
of the May-August rally crossing at 6.38 1/4.

March wheat closed up 10 1/4-cents at 7.54 3/4.

March wheat closed higher on Friday. The USDA estimated planted acreage at
41.82 billion but well below trade guesses. The USDA also cut its estimate of
2012 crop ending stocks by 38 million bushels to 716 million, due to increased
feed and seed usage. 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 neutral to bearish signaling that sideways to lower prices
are possible near-term. If March extends the decline off the late-November
high, the 75% retracement level of this year’s rally crossing at 7.25 3/4 is
the next downside target. Closes above the 20-day moving average crossing at
7.76 1/2 are needed to confirm that a short-term low has been posted. First
resistance is the 20-day moving average crossing at 7.76 1/2. Second resistance
is the reaction high crossing at 8.22 3/4. First support is today’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 10 1/2-cents at 8.07.

March Kansas City wheat closed higher due to short covering on Friday as it
consolidated some of the decline off November’s high. The high-range close sets
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 the late-November
high, the 62% retracement level of this year’s rally crossing at 7.76 3/4 is
the next downside target. Closes above the 20-day moving average crossing at
8.29 1/4 would confirm that a short-term low has been posted. First resistance
is the 10-day moving average crossing at 8.10 1/2. Second resistance is the
20-day moving average crossing at 8.29 1/4. First support is today’s low
crossing at 7.89 3/4. Second support is the 62% retracement level of this
year’s rally crossing at 7.76 3/4.

March Minneapolis wheat closed up 6-cents at 8.45 1/4.

March Minneapolis wheat closed higher due to short covering on Friday. The
mid-range close sets the stage for a steady to higher opening when Monday’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 the decline off the late-November high, the 75%
retracement level of this year’s rally crossing at 8.15 1/2 is the next
downside target. Closes above the 20-day moving average crossing at 8.67 3/4
are needed to confirm that a short-term low has been posted. First resistance
is the 10-day moving average crossing at 8.47 3/4. Second resistance is the
20-day moving average crossing at 8.67 3/4. First support is today’s low
crossing at 8.30. Second support is the 75% retracement level of this summer’s
rally crossing at 8.15 1/2.

SOYBEAN COMPLEX

March soybeans closed down 6 1/2-cents at 13.73 1/4.

March soybeans closed lower on Friday after USDA raised its production
estimate by 44 million bushels due to small increases in yields and harvested
acreage. However, this only increased ending stocks by 5 million bushels, to
135 million. March rebounded off early-session lows due to strength in corn and
wheat. The USDA also lowered its forecast of Argentine production by 1 million
tons due to reduced acreage from flooding, that was offset by a 1.5 million ton
increase in Brazilian output due to better yields from good weather. The UDSA
kept its forecast for U.S. exports unchanged at 1.345 billion. 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 neutral to bullish hinting
that a short-term low might be in or is near. Closes above the 20-day moving
average crossing at 14.16 1/2 are needed to confirm that a short-term low has
been posted. If March renews the decline off September’s high, the 62%
retracement level of the 2010-2012-rally crossing at 13.19 is the next downside
target. First resistance is the 20-day moving average crossing at 14.16 1/2.
Second resistance is December’s high crossing at 15.01 1/4. First support is
today’s low crossing at 13.51 1/2. Second support is the 62% retracement level
of the 2010-2012-rally crossing at 13.19.

March soybean meal closed down $1.30 at $404.30.

March soybean meal closed lower on Friday. However, 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 neutral to bullish hinting that a
low might be in or is near. Closes above the 20-day moving average crossing at
423.40 are needed to confirm that a short-term low has been posted. If March
extends the decline off December’s high, the 62% retracement level of the
2010-2012-rally crossing at 379.00 is the next downside target. First
resistance is the 10-day moving average crossing at 409.20. Second resistance
is the 20-day moving average crossing at 423.40. First support is today’s low
crossing at 392.40. Second support is the 62% retracement level of the
2010-2012-rally crossing at 379.00.

March soybean oil closed down 51-pts. at 49.24.

March soybean closed lower on Friday as it renewed the decline off this
month’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 bearish
signaling that sideways to lower prices are possible near-term. If March
extends this month’s decline, the reaction low crossing at 48.51 is the next
downside target. If March renews the rally off December’s low, December’s high
crossing at 51.85 is the next upside target. First resistance is December’s
high crossing at 51.85. Second resistance is October’s high crossing at 53.31.
First support is today’s low crossing at 49.12. Second support is the reaction
low crossing at 48.51.

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

February hogs closed down $0.40 at $84.20.

February hogs closed lower on Friday as it extended 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 bearish signaling
that sideways to lower prices are possible near-term. If February extends this
week’s decline, December’s low crossing at 83.20 is the next downside target.
Closes above Tuesday’s low crossing at 86.95 are needed to confirm that a low
has been posted. First resistance is Tuesday’s high crossing at 86.95. Second
resistance is December’s high crossing at 87.77. First support is Wednesday’s
low crossing at 84.15. Second resistance is December’s low crossing at 83.20.

February cattle closed unchanged at 131.55.

February cattle closed unchanged on Thursday as it consolidated some of
Wednesday’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. If
February extends Wednesday’s decline, the reaction low crossing at 131.32 is
the next downside target. Closes above Tuesday’s high crossing at 133.25 would
confirm that a short-term low has been posted. First resistance is Tuesday’s
high crossing at 133.25. Second resistance is December’s high crossing at
134.40. First support is the reaction low crossing at 131.32. Second support is
December’s low crossing at 129.77.

March feeder cattle closed down $1.47 at $151.45.

March Feeder cattle closed lower on Friday renewing the decline off
December’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
bearish signaling that sideways to lower prices are possible near-term. If
March extends this week’s decline, December’s low crossing at 148.82 is the
next downside target. Closes above the 20-day moving average crossing at 154.62
would confirm that a short-term low has been posted. First resistance is the
20-day moving average crossing at 154.62. Second resistance is December’s high
crossing at 157.07. First support is today’s low crossing at 151.42. Second
support is December’s low crossing at 148.82.

_____________________________________________________________________

T H A N K   Y O U
_____________________________________________________________________

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Key Market Reports and Commentary for Monday 07/01/2013

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
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KEY EVENTS TO WATCH FOR:
Monday, January 7, 2013
10:00 AM ET. Dec Employment Trends Index

US Employment Trends Index (ETI) (previous 107.82)

US Employment Trends Index (ETI) MoM Change (previous -0.02%)

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 last
week’s rally. Stochastics remain neutral to bullish signaling that sideways to
higher prices are possible near-term. If March extends last week’s rally, the
reaction high crossing at crossing at 2773.25 is the next upside target. Closes
below the 20-day moving average crossing at 2666.33 would confirm that a
short-term top has been posted. First resistance is the reaction high crossing
at 2773.25. 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 2666.33. Second support is last Monday’s low
crossing at 2580.00.

The March S&P 500 index was lower overnight as it consolidates some of last
week’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 November’s low, weekly resistance crossing at
1467.50 is the next upside target. Closes below the 20-day moving average
crossing at 1426.55 would confirm that a short-term top has been posted. First
resistance is last Friday’s high crossing at 1462.50. Second resistance is
weekly resistance crossing at 1467.50. First support is the 20-day moving
average crossing at 1426.55. Second support is the reaction low crossing at
1383.00.

______________________________

_______________________________________

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

March T-bonds was higher due to short covering overnight as it consolidates
some of last week’s decline. 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 December’s high, September’s low
crossing at 143-08 is the next downside target. Closes above the 20-day moving
average crossing at 147-08 are needed to confirm that a short-term low has been
posted. First resistance is the 10-day moving average crossing at 146-20.
Second resistance is the 20-day moving average crossing at 147-08. First
support is last Friday’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

February crude 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 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
89.47 are needed to confirm that a short-term top has been posted. If February
extends the rally off December’s low, the reaction high crossing at 94.42 is
the next upside target. First resistance is last Wednesday’s high crossing at
93.87. Second resistance is the reaction high crossing at 94.42. First support
is the 10-day moving average crossing at 91.34. Second support is the 20-day
moving average crossing at 89.47.

February heating oil was lower due to profit taking overnight while
extending the trading range of the past three weeks. Stochastics and the RSI
have turned bearish signaling that a short-term top might be in or is near.
Closes below the 20-day moving average crossing at 299.58 would temper the
near-term friendly outlook. If February renews the rally off December’s low,
December’s high crossing at 310.26 is the next upside target. First resistance
is December’s high crossing at 310.26. Second resistance is October’s high
crossing at 317.98. First support is the 20-day moving average crossing at
299.58. Second support is the 50% retracement level of the June-September rally
crossing at 289.15.

February 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 February extends the rally off November’s
low, September’s high crossing at 286.60 is the next upside target. Closes
below the 20-day moving average crossing at 271.04 are needed to confirm that a
short-term top has been posted. First resistance is the reaction high crossing
at 281.36. Second resistance is September’s high crossing at 286.60. First
support is the 20-day moving average crossing at 271.04. Second support is
December’s low crossing at 259.59.

February Henry natural gas was higher overnight as it consolidates some of
the decline off October’s high. Stochastics and the RSI are diverging and
neutral to bullish hinting that a low might be in or is near. Closes above the
20-day moving average crossing at 3.397 are needed to confirm that a short-term
top has been posted. If February extends the decline off November’s high,
weekly support crossing at 2.923 is the next downside target. First resistance
is the 10-day moving average crossing at 3.356. Second resistance is the 20-day
moving average crossing at 3.397. First support is last Wednesday’s low
crossing at 3.305. Second support is weekly support crossing at 2.923.

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

The March Dollar was higher overnight as it extends the rally off December’s
low. Stochastics and the RSI remain bullish signaling that sideways to higher
prices are possible near-term. If March extends the aforementioned rally,
December’s high crossing at 81.05 is the next upside target. Closes below last
Wednesday’s low crossing at 79.46 would confirm that a short-term top has been
posted. First resistance is December’s high crossing at 81.05. Second
resistance is November’s high crossing at 81.70. First support is last
Wednesday’s low crossing at 79.46. Second support is December’s low crossing at
79.01.

The March Euro was lower overnight as it extends the decline off December’s
high. Stochastics and the RSI remain bearish signaling that sideways to lower
prices are possible near-term. If March extends this decline, the 38%
retracement level of the July-December rally crossing at 128.50 is the next
downside target. Closes above the 10-day moving average crossing at 131.68 are
needed to confirm that a short-term low has been posted. First resistance is
the 20-day moving average crossing at 131.42. Second resistance is the 10-day
moving average crossing at 131.68. First support is last Friday’s low crossing
at 130.05. Second support is the 38% retracement level of the July-December
rally crossing at 128.50.

The March British Pound was steady to slightly lower overnight as it extends
last week’s decline. Stochastics and the RSI are bearish signaling that
sideways to lower prices are possible near-term. If March extends last week’s
decline, November’s low crossing at 1.5873 is the next downside target. Closes
above the 20-day moving average crossing at 1.6148 would confirm that a
short-term low has been posted. First resistance is the 20-day moving average
crossing at 1.6148. Second resistance is last Wednesday’s high crossing at
1.6314. First support is last Friday’s low crossing at 1.5945. Second support
is November’s low crossing at 1.5873.

The March Swiss Franc was lower overnight as it extends last week’s decline.
Stochastics and the RSI are bearish signaling that sideways to lower prices are
possible near-term. If March extends last week’s decline, the 38% retracement
level of the July-December rally crossing at .10679 is the next downside
target. Closes above the 10-day moving average crossing at .10904 would confirm
that a short-term low has been posted while opening the door for additional
weakness near-term. First resistance is the 20-day moving average crossing at
.10883. Second is the 10-day moving average crossing at .10904. First support
is the 38% retracement level of the July-December rally crossing at .10679.
Second support is the 50% retracement level of the July-December rally crossing
at .10571.

The March Canadian Dollar was steady to slightly lower overnight.
Stochastics and the RSI remain bullish signaling that sideways to higher prices
are possible near-term. If March renews last week’s rally, December’s high
crossing at 101.58 then the reaction high crossing at 102.10 are the next
upside targets. Closes below the 10-day moving average crossing at 100.71 would
temper the near-term friendly outlook. If March renews the decline off
December’s high, November’s low crossing at 99.19 is the next downside target.
First resistance is December’s high crossing at 101.58. Second resistance is
the reaction high crossing at 102.10. First support is the reaction low
crossing at 100.11. Second support is November’s low crossing at 99.19.

The March Japanese Yen was higher due to short covering overnight as it
consolidates some of the decline off September’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 September’s
high, monthly support crossing at .11307 is the next downside target. Closes
above the 20-day moving average crossing at .11792 are needed to confirm that a
short-term low has been posted. First resistance is the 10-day moving average
crossing at .11588. Second resistance is the 20-day moving average crossing at
.11792. First support is last Friday’s low crossing at .11317. Second support
is monthly support crossing at .11307.

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

February gold was higher due to short covering overnight as it consolidates
some of last week’s decline. Stochastics and the RSI are diverging but turning
neutral signaling that sideways to lower prices are possible near-term. If
February extends the decline off November’s high, the 75% retracement level of
this year’s rally crossing at 1603.50 is the next downside target. Multiple
closes above the 20-day moving average crossing at 1678.30 are needed to
confirm that a short-term low has been posted. First resistance is the 20-day
moving average crossing at 1678.30. Second resistance is the reaction high
crossing at 1704.40. First support is last Friday’s low crossing at 1626.00.
Second support is the 75% retracement level of this year’s rally crossing at
1603.50 is the next downside target.

March silver was higher due to short covering overnight as it consolidates
some of last week’s decline. Stochastics and the RSI are diverging and turning
neutral to bullish hinting that a low might be in or is near. Closes above the
20-day moving average crossing at 31.260 are needed to confirm that a
short-term low has been posted. If March extends the decline off November’s
high, the 75% retracement level of the June-October rally crossing at 28.687 is
the next downside target. First resistance is the 20-day moving average
crossing at 31.260. Second resistance is the reaction high crossing at 31.535.
First support is last Friday’s low crossing at 29.240. Second support is the
75% retracement level of the June-October rally crossing at 28.687.

March copper was lower due to profit taking overnight as it consolidates
some of the rally off December’s low. Stochastics and the RSI are turning
neutral hinting that a short-term top might be in or is near. Closes below last
Monday’s low crossing at 358.15 would confirm that a short-term top has been
posted. If March extends the rally off December’s low, October’s high crossing
at 382.90 is the next upside target. First resistance is the reaction high
crossing at 377.10. Second resistance is October’s high crossing at 382.90.
First support is last Monday’s low crossing at 358.15. Second support is
December’s low crossing at 352.30.

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

March coffee close 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 Wednesday’s rally, the reaction high crossing at 15.51 is the next
upside target. If March renews the decline off October’s high, weekly support
crossing at 12.90 is the next downside target.

March cocoa closed lower on Friday extending the decline off September’s
high. The low-range close sets the stage for a steady to lower opening on
Monday. 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 23.36 are needed to confirm that a short-term low
has been posted. If March extends the aforementioned decline, 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 below
the 20-day moving average crossing at 19.14. The low-range close set the stage
for a steady to lower opening on Monday. Stochastics and the RSI are overbought
and are turning 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
extends the rally off December’s low, December’s high crossing at 19.94 is the
next upside target.

March cotton closed slightly lower due to profit taking on Friday. The
mid-range close sets the stage for a steady opening on Monday. Stochastics and
the RSI are neutral to bearish signaling that sideways to lower prices are
possible near-term. If March renews last week’s decline, the reaction low
crossing at 73.37 is the next downside target. Closes above the 10-day moving
average crossing at 75.70 are needed to temper the near-term bearish outlook.

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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 bounced off the
50% retracement level of the May-August rally. Stochastics and the RSI are
oversold but remain neutral to bearish signaling that sideways to lower prices
are possible near-term. The high-range close sets the stage for a steady to
higher opening when the day session begins trading. If March extends the
decline off November’s high, the 62% retracement level of the May-August rally
crossing at 6.38 1/4 is the next downside target. Closes above the 20-day
moving average crossing at 7.07 are needed to confirm that a short-term low has
been posted. First resistance is the 10-day moving average crossing at 6.92
3/4. Second resistance is the 20-day moving average crossing at 7.07. First
support is the overnight low crossing at 6.78. Second support is the 62%
retracement level of the May-August rally crossing at 6.38 1/4.

March wheat closed higher due to short covering overnight as it consolidates
some of the decline off November’s high. 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 decline off the
late-November high, the 75% retracement level of this year’s rally crossing at
7.25 3/4 is the next downside target. Closes above the 20-day moving average
crossing at 7.94 would confirm that a short-term low has been posted. First
resistance is the 10-day moving average crossing at 7.69 3/4. Second resistance
is the 20-day moving average crossing at 7.94. First support is last Friday’s
low crossing at 7.39 3/4. Second support is the 75% retracement level of this
year’s rally crossing at 7.25 3/4.

March Kansas City Wheat closed down 6 3/4-cent at 8.04 1/2.

March Kansas City wheat gapped down and closed lower on Friday as it
extended the decline off November’s high. 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 the late-November high,
the 62% retracement level of this year’s rally crossing at 7.76 3/4 is the next
downside target. Closes above the 20-day moving average crossing at 8.51 3/4
would confirm that a short-term low has been posted. First resistance is the
10-day moving average crossing at 8.26. Second resistance is the 20-day moving
average crossing at 8.51 3/4. First support is today’s low crossing at 8.04
1/2. Second support is the 62% retracement level of this year’s rally crossing
at 7.76 3/4.

March Minneapolis wheat was higher due to short covering overnight as it
consolidates some of the decline off November’s high. 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. If March extends the
decline off the late-November high, the 75% retracement level of this year’s
rally crossing at 8.15 1/2 is the next downside target. Closes above the 20-day
moving average crossing at 8.82 3/4 are needed to confirm that a short-term low
has been posted. First resistance is the 10-day moving average crossing at 8.60
1/4. Second resistance is the 20-day moving average crossing at 8.82 3/4. First
support is last Friday’s low crossing at 8.36. Second support is the 75%
retracement level of this summer’s rally crossing at 8.15 1/2.

SOYBEAN COMPLEX

March soybeans were higher due to short covering overnight as it
consolidates some of the decline off December’s high. 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
decline off December’s high, the 62% retracement level of the 2010-2012-rally
crossing at 13.19 is the next downside target. Closes above the 20-day moving
average crossing at 14.34 1/4 are needed to confirm that a short-term low has
been posted. First resistance is the 20-day moving average crossing at 14.34
1/4. Second resistance is December’s high crossing at 15.01 1/4. First support
is last Friday’s low crossing at 13.56. Second support is the 62% retracement
level of the 2010-2012-rally crossing at 13.19.

March soybean meal was higher due to short covering overnight as it
consolidates some of the decline off December’s high. 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
decline off December’s high, the 62% retracement level of the 2010-2012 rally
crossing at 379.10 is the next downside target. Closes above the 20-day moving
average crossing at 429.90 are needed to confirm that a low has been posted.
First resistance is the 10-day moving average crossing at 417.30. Second
resistance is the 20-day moving average crossing at 429.90. First support is
last Friday’s low crossing at 393.20. Second support is the 62% retracement
level of the 2010-2012-rally crossing at 379.10.

March soybean was slightly higher 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 neutral to bullish signaling that sideways to
higher prices are possible near-term. If March renews last week’s rally,
December’s high crossing at 51.85 is the next upside target. Closes below the
10-day moving average crossing at 49.65 would confirm that a short-term top has
been posted. First resistance is December’s high crossing at 51.85. Second
resistance is the reaction high crossing at 53.31. First support is December’s
low crossing at 47.92. Second support is November’s low crossing at 47.35.

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

February hogs closed down $0.17 at $86.22.

February hogs closed lower on Friday. 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. Closes below the 20-day moving average crossing
at 85.79 would confirm that a short-term top has been posted. If February
renews the rally off December’s low, November’s high crossing at 88.25 is the
next upside target. First resistance is the 10-day moving average crossing at
86.62. Second resistance is the reaction high crossing at 87.77. First support
is the reaction low crossing at 84.45. Second resistance is December’s low
crossing at 83.20.

February cattle closed down $0.90 at 132.95.

February cattle closed lower due to profit taking ahead of the weekend on
Friday. 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 hinting that a short-term top might be in or is near. Closes below the
20-day moving average crossing at 132.62 are needed to confirm that a
short-term top has been posted. If February renews the rally off November’s
low, last February’s high crossing at 135.90 is the next upside target. First
resistance is December’s high crossing at 134.40. Second resistance is last
February’s high crossing at 135.90. First support is the 20-day moving average
crossing at 132.62. Second support is the reaction low crossing at 131.32.

March feeder cattle closed up $1.42 at $156.32.

March Feeder cattle gapped up and closed higher on Friday. 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 neutral hinting that
sideways to higher prices are possible near-term. If March renews the rally off
November’s low, the 62% retracement level of the May-July decline crossing at
157.34 is the next upside target. Closes below the 20-day moving average
crossing at 154.32 would confirm that a short-term top has been posted while
opening the door for additional weakness near-term. First resistance is
December’s high crossing at 157.07. Second resistance is the 62% retracement
level of the May-July decline crossing at 157.34. First support is the 20-day
moving average crossing at 154.32. Second support is the reaction low crossing
at 147.82.

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

The March NASDAQ 100 closed higher on Tuesday as it extends the rally off
November’s low. 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 turning neutral hinting that sideways to higher prices are possible
near-term. If March renews the rally off November’s low, the 62% retracement
level of the September-November decline crossing at 2715.55 is the next upside
target. Closes below the 20-day moving average crossing at 2616.53 are needed
to confirm that a short-term top has been posted. First resistance is today’s
high crossing at 2691.00. Second resistance is the 62% retracement level of the
September-November decline crossing at 2715.55. First support is the 20-day
moving average crossing at 2616.53. Second support is November’s low crossing
at 2502.00.

The March S&P 500 closed higher on Tuesday as it extends the rally off
November’s low. The mid-range close sets the stage for a steady to higher
opening when Wednesday’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,
October’s high crossing at 1456.30 is the next upside target. Closes below the
20-day moving average crossing at 1390.13 are needed to confirm that a
short-term top has been posted. First resistance is today’s high crossing at
1427.00. Second resistance is October’s high crossing at 1456.30. First support
is the 20-day moving average crossing at 1390.13. Second support is November’s
low crossing at 1340.00.

The Dow closed higher on Tuesday as it extends the rally off November’s low.
The mid-range close sets the stage for a steady to higher opening on Wednesday.
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, the 75% retracement level of the October-November
decline crossing at 13,364 is the next upside target. Closes below the 20-day
moving average crossing at 12,918 would confirm that a short-term top has been
posted. First resistance is today’s high crossing at 13,306. Second resistance
is the 75% retracement level of the October-November decline crossing at
13,364. First support is the 10-day moving average crossing at 13,063. Second
support is the 20-day moving average crossing at 12,918.
_____________________________________________________________________

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

March T-bonds closed down 24/32′s at 148-31.

March T-bonds closed lower on Tuesday renewing the decline off last
Thursday’s high. The low-range close sets the stage for a steady to lower
opening on Wednesday. Stochastics and the RSI are turning bearish signaling
that sideways to lower prices are possible near-term. Closes below the reaction
low crossing at 148-11 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 the November 23rd low, November’s high crossing at 151-10 is the next
upside target. First resistance is November’s high crossing at 151-10. Second
resistance is July’s high crossing at 153-11. First support is the reaction low
crossing at 148-11. Second support is the reaction low crossing at 146-08.

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

January crude oil closed higher on Tuesday as it consolidated some of this
month’s decline. The mid-range close sets the stage for a steady opening when
Wednesday’s night session begins. Stochastics and the RSI remain bearish
signaling that sideways to lower prices are possible near-term. If January
renews the decline off September’s high, the 87% retracement level of the
June-September rally crossing at 82.36 is the next downside target. Closes
above the 20-day moving average crossing at 87.22 would temper the near-term
bearish outlook. First resistance is the 20-day moving average crossing at
87.22. Second resistance is the reaction high crossing at 89.67. First support
is the 75% retracement level of the June-September rally crossing at 85.06.
Second support is the 87% retracement level of the June-September rally
crossing at 82.36.

January heating oil closed higher due to short covering on Tuesday as it
bounces off the 50% retracement level of the June-October rally crossing at
290.08. 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 January extends the decline off last week’s high, the
62% retracement level of the June-October rally crossing at 281.91 is the next
downside target. Closes above the 20-day moving average crossing at 301.00
would signal that a short-term low has been posted. First resistance is the
20-day moving average crossing at 301.00. Second resistance is the reaction
high crossing at 310.26. First support is the 50% retracement level of the
June-October rally crossing at 290.08. Second support is the 62% retracement
level of the June-October rally crossing at 281.91.

January unleaded gas closed slightly higher due to short covering on Tuesday
as it extends the trading range of the past three days. 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
January renews this month’s decline, November’s low crossing at 253.24 is the
next downside target. Closes above the 20-day moving average crossing at 267.48
would confirm that a short-term low has been posted. First resistance is the
20-day moving average crossing at 267.48. Second resistance is last Monday’s
high crossing at 276.20. First support is last Thursday’s low crossing at
258.93. Second support is November’s low crossing at 253.24.

January Henry natural gas closed lower on Tuesday as it extends 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, diverging but are
bearish signaling that additional weakness is possible near-term. If January
extends the decline off November’s high, the 75% retracement level of the
April-October rally crossing at 3.319 is the next downside target. Closes above
the 20-day moving average crossing at 3.749 are needed to confirm that a
short-term low has been posted. First resistance is the 10-day moving average
crossing at 3.593. Second resistance is the 20-day moving average crossing at
3.749. First support is today’s low crossing at 3.391. Second support is the
75% retracement level of the April-October rally crossing at 3.319.

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

The March Dollar closed lower on Tuesday and the low-range close sets the
stage for a steady to lower opening on Wednesday. Stochastics and the RSI
remain neutral to bullish hinting that a short-term low might be in or is near.
Closes above the 20-day moving average crossing at 80.65 are needed to confirm
that a short-term low has been posted. If March renews the decline off
November’s high, the 75% retracement level of the September-November rally
crossing at 79.62 is the next downside target. First resistance is the 20-day
moving average crossing at 80.65. Second resistance is the reaction high
crossing at 81.42. First support is last Wednesday’s low crossing at 79.78.
Second support is the 75% retracement level of the September-November rally
crossing at 79.62.

The March Euro closed higher on Tuesday as it consolidates some of the
decline off last Wednesday’s high. The high-range close sets the stage for a
steady to higher opening on Wednesday. Stochastics and the RSI remain neutral
to bearish signaling that sideways to lower prices are possible near-term.
Closes below the 20-day moving average crossing at 129.27 would confirm that a
short-term top has been posted. If March renews the rally off November’s low,
September’s high crossing at 131.88 is the next upside target. First resistance
is October’s high crossing at 131.55. Second resistance is September’s high
crossing at 131.88. First support is the 20-day moving average crossing at
129.27. Second support is the reaction low crossing at 127.60.

The March British Pound closed higher on Tuesday and is poised to renew the
rally off November’s low. 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 neutral to bearish hinting that a short-term top might be in or is
near. Closes below the 20-day moving average crossing at 1.5993 are needed to
confirm that a short-term top has been posted. If March renews the rally off
November’s low, November’s high crossing at 1.6140 is the next upside target.
First resistance is last Tuesday’s high crossing at 1.6126. Second resistance
is November’s high crossing at 1.6140. First support is the 20-day moving
average crossing at 1.5993. Second support is the reaction low crossing at
1.5903.

The March Swiss Franc closed higher due to short covering on Tuesday as it
consolidated some of last week’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 remain bearish signaling that sideways to lower prices
are possible near-term. Closes below the reaction low crossing at .10678 would
confirm that a short-term low has been posted. If March renews the rally off
November’s low, October’s high crossing at .10874 is the next upside target.
First resistance is November’s high crossing at .10842. Second resistance is
October’s high crossing at .10874. First support is the reaction low crossing
at .10678. Second support is November’s low crossing at .10555.

The March Canadian Dollar closed higher on Tuesday as it extends the rally
off November’s low. 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 overbought but remain neutral to bullish signaling that sideways to higher
prices are possible near-term. If March extends the rally off November’s low,
the reaction high crossing at 102.10 is the next upside target. Closes below
the 20-day moving average crossing at 100.30 would signal that a short-term top
has been posted. First resistance is today’s high crossing at 101.22. Second
resistance is the reaction high crossing at 102.10. First support is the 20-day
moving average crossing at 100.30. Second support is November’s low crossing at
99.19.

The March Japanese Yen closed lower on Tuesday as it extends the trading
range of the past three weeks. 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 hinting that a low might be in or is near. Closes above
the reaction high crossing at .12253 are needed to confirm that a short-term
top has been posted. If March renews this fall’s decline, March’s low crossing
at .12000 are the next downside target. First resistance is the 20-day moving
average crossing at .12235. Second resistance is the reaction high crossing at
.12253. First support is last Friday’s low crossing at .12084. Second support
is March’s low crossing at .12000.

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

February gold closed lower on Tuesday and the mid-range close sets the stage
for a steady opening when Wednesday’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 1721.90 would temper the near-term
bearish outlook. If February extends the decline off November’s high,
November’s low crossing at 1674.70 is the next downside target. First
resistance is the 20-day moving average crossing at 1721.90. Second resistance
is November’s high crossing at 1757.10. First support is last Friday’s low
crossing at 1684.10. Second support is November’s low crossing at 1674.70.

March silver closed lower on Tuesday and the low-range close set the stage
for a steady to lower opening when Wednesday’s night session begins trading.
Stochastics and the RSI remain neutral to bearish signaling that sideways to
lower prices are possible near-term. If March renews the decline off November’s
high, the reaction low crossing at 32.110 is the next downside target. Closes
above the 10-day moving average crossing at 33.358 would temper the near-term
bearish outlook. First resistance is November’s high crossing at 35.200. Second
resistance is October’s high crossing at 35.510. First support is the reaction
low crossing at 32.110. Second support is November’s low crossing at 30.790.

March copper closed lower due to profit taking on Tuesday 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 Wednesday’s night session begins trading.
Stochastics and the RSI are overbought but remain neutral to bullish signaling
that sideways to higher prices are possible near-term. If March extends the
rally off November’s low, the 75% retracement level of the aforementioned
decline crossing at 374.08 is the next upside target. Closes below the 20-day
moving average crossing at 357.91 would confirm that a short-term top has been
posted. First resistance is Monday’s high crossing at 371.90. Second resistance
is the 75% retracement level of the aforementioned decline crossing at 374.08.
First support is the 10-day moving average crossing at 364.91. Second support
is the 20-day moving average crossing at 357.91.

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

March coffee close higher due to short covering on Tuesday. The high-range
close set the stage for a steady to higher opening on Wednesday. Stochastics
and the RSI are neutral to bullish hinting that a low might be in or is near.
Closes above the reaction high crossing at 15.71 would confirm that a
short-term low has been posted. If March renews the decline off October’s high,
weekly support crossing at 12.90 is the next downside target.

March cocoa closed slightly higher on Tuesday as it consolidates some of the
decline off last Monday’s high. The mid-range close sets the stage for a steady
opening on Wednesday. Stochastics and the RSI are becoming oversold but remain
bearish signaling that sideways to lower prices are possible near-term. If
March extends the aforementioned decline, November’s low crossing at 23.22 is
the next downside target. Closes above the 20-day moving average crossing at
24.47 would confirm that a short-term low has been posted.

March sugar closed higher due to short covering on Tuesday as it
consolidated some of the decline off last week’s high. The high-range close set
the stage for a steady to higher opening on Wednesday. Stochastics and the RSI
remain bearish signaling that sideways to lower prices are possible near-term.
If March renews the decline off October’s high, 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 19.32 would temper the near-term bearish
outlook.

March cotton closed higher on Tuesday as it extends the rally off November’s
low. The high-range close sets the stage for a steady to higher opening on
Wednesday. Stochastics and the RSI are diverging but bullish signaling that
sideways to higher prices are possible near-term. If March renews the rally off
November’s low, October’s high crossing at 76.39 is the next upside target.
Closes below the 20-day moving average crossing at 72.79 would confirm that a
short-term top has been posted.

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

March Corn closed down 2-cents at 7.28.

March corn closed lower on Tuesday as it extends the decline off November’s
high. This morning’s monthly supply-demand report showed no changes in supply
or demand, which allowed March to continue this week’s decline. The mid-range
close sets the stage for a steady to lower opening when Wednesday’s night
session begins trading. Stochastics and the RSI remain bearish signaling that
additional weakness is possible near-term. If March extends this week’s
decline, November’s low crossing at 7.14 1/4 is the next downside target.
Closes above the 10-day moving average crossing at 7.48 1/2 would temper the
near-term friendly outlook. First resistance is the 10-day moving average
crossing at 7.48 1/2. Second resistance is last Wednesday’s high crossing at
7.67 1/2. First support is today’s low crossing at 7.23 3/4. Second support is
November’s low crossing at 7.14 1/4.

March wheat closed down 27 1/4-cents at 8.21 1/2.

March wheat closed sharply lower on Tuesday following this morning’s monthly
supply-demand report, which saw the USDA raised US wheat stocks more than
expected along with weak demand. March blew through support marked by the 38%
retracement level of this year’s rally crossing at 8.35. 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. If March extends the decline off the
late-November high, the 50% retracement level of this year’s rally crossing at
8.00 is the next downside target. Closes above the 20-day moving average
crossing at 8.62 1/4 would confirm that a short-term low has been posted. First
resistance is the 20-day moving average crossing at 8.62 1/4. Second resistance
is the late-November high crossing at 8.80. First support is today’s low
crossing at 8.16. Second support is the 50% retracement level of this year’s
rally crossing at 8.00.

March Kansas City Wheat closed down 21 3/4-cents at 8.81 1/2.

March Kansas City wheat closed sharply lower on Tuesday following a bearish
supply-demand report. The mid-range close sets the stage for a steady opening
on Wednesday. Stochastics and the RSI are neutral to bearish signaling that
sideways to lower prices are possible near-term. If March extends the decline
off the late-November high, the 38% retracement level of this year’s rally
crossing at 8.41 3/4 is the next downside target. Closes above the 10-day
moving average crossing at 9.10 3/4 would confirm that a short-term low has
been posted. First resistance is the 10-day moving average crossing at 9.10
3/4. Second resistance is the reaction high crossing at 9.39. First support is
today’s low crossing at 8.72 1/2. Second support is the 38% retracement level
of this year’s rally crossing at 8.41 3/4.

March Minneapolis wheat closed down 16-cents at 9.11.

March Minneapolis wheat closed lower on Tuesday and below November’s low
thereby renewing the decline off last month’s high. The low-range close sets
the stage for a steady to lower opening when Wednesday’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 the decline off the
late-November high, the 50% retracement level of this year’s rally crossing at
8.88 1/2 is the next downside target. Closes above the 10-day moving average
crossing at 9.34 would confirm that a short-term low has been posted. First
resistance is the 10-day moving average crossing at 9.34. Second resistance is
the reaction high crossing at 9.57. First support is today’s low crossing at
9.07. Second support is the 50% retracement level of this summer’s rally
crossing at 8.88 1/2.

SOYBEAN COMPLEX

January soybeans closed down 2 3/4-cents at 14.72.

January soybeans closed lower on Tuesday despite a tightening in this year’s
ending stocks. The mid-range close sets the stage for a steady opening when
Wednesday’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 14.37 1/2 would
temper the near-term friendly outlook. If January extends the rally off
November’s low, the reaction high crossing at 15.23 is the next upside target.
First resistance is last Friday’s high crossing at 14.98 1/4. Second resistance
is the reaction high crossing at 15.23. First support is the 20-day moving
average crossing at 14.37 1/2. Second support is November’s low crossing at
13.72 1/4.

January soybean meal closed up $3.20 at $448.10.

January soybean meal closed higher on Tuesday and the mid-range close sets
the stage for a steady to higher opening when Wednesday’s night session begins
trading. Stochastics and the RSI are overbought but are turning bearish hinting
that a short-term top might be in or is near. Closes below the 20-day moving
average crossing at 433.50 would confirm that a short-term top has been posted.
If January extends the rally off November’s low, the reaction high crossing at
467.50 is the next upside target. First resistance is last Friday’s high
crossing at 452.90. Second resistance is the reaction high crossing at 467.70.
First support is the 20-day moving average crossing at 433.50. Second support
is November’s low crossing at 416.70.

January soybean oil closed down 95-pts. at 50.20.

January soybean closed lower on Tuesday and below the 10-day moving average
crossing at 50.51 signaling that a short-term top might be in or is near. 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 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 49.53 are needed to
confirm that a short-term low has been posted. If January renews the rally off
November’s low, the 50% retracement level of the September-November decline
crossing at 53.13 is the next upside target. First resistance is last Friday’s
high crossing at 51.85. Second resistance is the 50% retracement level of the
September-November decline crossing at 53.13. First support is the 20-day
moving average crossing at 49.53. Second support is November’s low crossing at
46.89.

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

February hogs closed up $0.22 at $84.45.

February hogs closed higher due to short covering on Tuesday filling last
Friday’s gap crossing at 84.35. 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 February renews last
week’s decline, November’s low crossing at 86.65 is the next downside target.
Closes above the 20-day moving average crossing at 86.16 are needed to confirm
that a short-term low has been posted. First resistance is today’s high
crossing at 84.45. Second resistance is the 20-day moving average crossing at
86.16. First support is last Friday’s low crossing at 83.20. Second support is
November’s low crossing at 86.65.

February cattle closed up $1.67 at 131.95.

February cattle closed sharply higher on Tuesday and above the 10-day moving
average crossing at 130.92 tempering the near-term bearish outlook. 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 neutral signaling
that sideways to higher prices are possible near-term. If February extends
today’s rally, November’s high crossing at 132.90 is the next upside target. If
February renews the decline off November’s high, the reaction low crossing at
128.90 is the next downside target. First resistance is today’s high crossing
at 132.50. Second resistance is November’s high crossing at 132.90. First
support is the reaction low crossing at 128.90. Second support is November’s
low crossing at 128.15.

January feeder cattle closed up $2.30 at $150.07.

January Feeder cattle closed sharply higher on Tuesday as it extends the
rally off November’s low. 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 overbought but remain bullish signaling that sideways to higher
prices are possible near-term. If January extends the aforementioned rally, the
50% retracement level of the May-July decline crossing at 153.04 is the next
upside target. Closes below the 20-day moving average crossing at 146.91 would
confirm that a short-term top has been posted. First resistance is today’s high
crossing at 152.30. Second resistance is the 50% retracement level of the
May-July decline crossing at 153.04. First support is the 20-day moving average
crossing at 146.91. Second support is the reaction low crossing at 145.05.

______________________________

______________________________________________

E X T R E M E   F U T U R E S
____________________________________________________________________________

Updated every 10 minutes around the clock.
More at http://quotes.ino.com/analysis/extremes/futures/

WINNERS

BCX.H13 SOYBEANS CRUSH INDEX Mar 2013               61.50      1.00  +1.65
FC.F13  FEEDER CATTLE Jan 2013                    152.075     2.300  +1.54
ND.H13  NASDAQ 100 INDEX Mar 2013                  2680.5      35.5  +1.34
LB.H13  LUMBER (RANDOM LENGTH) Mar 2013             352.9       4.6  +1.32
LC.G13  LIVE CATTLE Feb 2013                      131.950     1.675  +1.29
DA.G13  MILK CLASS III Feb 2013                     18.31      0.23  +1.27
GH      RUSSELL 2000 GROWTH INDEX                  476.20      5.50  +1.16
VB      RUSSELL 2000 VALUE INDEX                  1109.55     10.47  +0.94
LH.V13  LEAN HOGS Oct 2013                         87.375     0.800  +0.92
SP.M14  S&P 500 INDEX Jun 2014                     1392.3      11.4  +0.83

LOSERS

BCX.H14 SOYBEANS CRUSH INDEX Mar 2014               56.75     -2.75  -4.62
YW.H13  WHEAT (MINI) Mar 2013                      821.50    -27.25  -3.21
W.H13   WHEAT Mar 2013                             821.50    -27.25  -3.21
KW.H13  HARD RED WINTER WHEAT Mar 2013             881.50    -21.75  -2.41
BO.Z12  SOYBEAN OIL Dec 2012                        49.87     -0.96  -1.91
C.Z13   CORN Dec 2013                              627.75     -9.00  -1.41
NG.G13  NATURAL GAS Feb 2013                        3.441    -0.046  -1.32
S.X13   SOYBEANS Nov 2013                          1321.5     -13.0  -0.98
LH.J14  LEAN HOGS Apr 2014                           86.8      -0.7  -0.80
US.H13  T-BONDS Mar 2013                        149.03125  -0.68750  -0.46

———————————————————————

Free Video Seminar – “Spotting breakouts that lead to trend reversals”

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____________________________________________________________________________

E X T R E M E   S T O C K S
____________________________________________________________________________

Updated every 10 minutes around the clock.
More at http://quotes.ino.com/analysis/extremes/stocks/

WINNERS

TNS     TNS                                       20.7217    6.1617  +42.32
MDBX    MEDBOX                                      45.55      7.55  +19.87
CLSN    CELSION                                    8.2799    0.9999  +13.73
RPTP    RAPTOR PHARMACEUTICALS                       5.79      0.66  +12.87
PW      POWER REIT                                10.2780    1.0781  +11.72
WBMD    WEBMD HEALTH                              15.4500    1.6000  +11.55
BELFB   BEL FUSE                                    17.92      1.81  +11.24
CTEL    CITY TELECOM                               5.6003    0.5403  +10.68
SNTA    SYNTA PHARMACEUTICALS                        8.78      0.83  +10.44
SZYM    SOLAZYME                                    8.235     0.745  +9.95

LOSERS

PSDLF   PRISM MEDICAL LTD                          5.3165 -1.0865  -16.97
CBMX    COMBIMATRIX                                  8.64     -1.71  -16.52
REED    REEDS                                       5.421    -0.799  -12.85
UNXL    UNI-PIXEL                                 13.5300   -1.5367  -10.20
SPW     SPX                                         62.04     -6.28  -9.19
JW.A    JOHN WILEY & SONS                           36.94     -3.56  -8.79
FDO     FAMILY DOLLAR STORES                        64.73     -5.85  -8.29
LDR     LANDAUER                                    58.19     -5.23  -8.25
AOI     AFRICA OIL CORP                              7.04     -0.61  -7.97
TUWLF   TULLOW OIL                                  18.40     -1.59  -7.95
_____________________________________________________________________

T H A N K   Y O U
_____________________________________________________________________

Copyright 2012 INO.com. All Rights Reserved.

Key Market Reports and Commentary for Monday 10-12-2012

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, December 10, 2012
10:00 AM ET. Nov Employment Trends Index

US Employment Trends Index (ETI) (previous 108.16)

US Employment Trends Index (ETI) MoM Change (previous +0.5%)

10:00 AM ET. 3 Quarter Quarterly Financial Report – Industry

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 as it consolidates below
the 10-day moving average crossing at 2649.00. 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 2610.43 are needed to confirm that
a short-term top has been posted. If March renews the rally off November’s low,
the 62% retracement level of the September-November decline crossing at 2715.55
is the next upside target. First resistance is November’s high crossing at
2694.25. Second resistance is the 62% retracement level of the
September-November decline crossing at 2715.55. First support is the 20-day
moving average crossing at 2610.43. Second support is November’s low crossing
at 2502.00.

The December S&P 500 index was lower overnight. 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 20-day moving average crossing at 1393.84 are needed
to confirm that a short-term top has been posted. If December renews the rally
off November’s low, November’s high crossing at 1431.40 is the next upside
target. First resistance is November’s high crossing at 1431.40. Second
resistance is the reaction high crossing at 1459.50. First support is the
20-day moving average crossing at 1393.84. Second support is the reaction low
crossing at 1383.20.

______________________________

_______________________________________

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

March T-bonds were higher overnight as it consolidates some of last Friday’s
decline. Stochastics and the RSI are neutral to bullish signaling that sideways
to higher prices are possible near-term. If March extends the rally off the
November 23rd low, November’s high crossing at 151-10 is the next upside
target. Closes below the reaction low crossing at 148-11 are needed to confirm
that a short-term top has been posted and would open the door for additional
weakness during December. First resistance is November’s high crossing at
151-10. Second resistance is July’s high crossing at 153-11. First support is
the reaction low crossing at 148-11. Second support is the reaction low
crossing at 146-08.

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

January crude oil was higher overnight as it consolidates some of the
decline off last Monday’s high. Stochastics and the RSI remain bearish
signaling that sideways to lower prices are possible near-term. If January
renews the decline off last Monday’s high, the 87% retracement level of the
June-September rally crossing at 82.36 is the next downside target. Closes
above the reaction high crossing at 89.80 are needed to confirm that a
short-term low has been posted. First resistance is the reaction high crossing
at 89.80. Second resistance is the reaction high crossing at 93.98. First
support is November’s low crossing at 84.53. Second support is the 87%
retracement level of the June-September rally crossing at 82.36.

January heating oil was slightly higher due to short covering overnight as
it consolidates some of last week’s decline. Stochastics and the RSI are
oversold but remain bearish signaling that sideways to lower prices are
possible near-term. If January extends last week’s decline, the 50% retracement
level of the June-September rally crossing at 290.21 is the next downside
target. Closes above the 20-day moving average crossing at 301.57 would confirm
that a short-term low has been posted. First resistance is the 20-day moving
average crossing at 301.57. Second resistance is November’s high crossing at
318.00. First support is the overnight low crossing at 291.27. Second support
is the 50% retracement level of the June-September rally crossing at 290.21.

January unleaded gas was higher due to short covering overnight as it
consolidates some of last week’s decline. However, stochastics and the RSI are
oversold but remain bearish signaling that sideways to lower prices are
possible near-term. If January extends last week’s decline, November’s low
crossing at 253.24 is the next downside target. Closes above the
September-October downtrend line crossing near 272.13 would confirm a trend
change has taken place. First resistance is the September-October downtrend
line crossing near 272.13. Second resistance is October’s high crossing at
282.41. First support is last Thursday’s low crossing at 258.93. Second support
is November’s low crossing at 253.24.

January Henry natural gas gapped down and was lower overnight renewing the
decline off November’s high. Stochastics and the RSI are diverging but are
turning neutral to bearish again signaling that additional weakness is possible
near-term. If January extends the decline off November’s high, the 62%
retracement level of the April-October rally crossing at 3.454 is the next
downside target. Closes above the 20-day moving average crossing at 3.765 are
needed to confirm that a short-term top has been posted. First resistance is
the 20-day moving average crossing at 3.765. Second resistance is the reaction
high crossing at 3.914. First support is the overnight low crossing at 3.477.
Second support is the 62% retracement level of the April-October rally crossing
at 3.454.

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 November’s high. Stochastics and the RSI
are bullish signaling that a short-term low might be in or is near. Closes
above the 20-day moving average crossing at 80.72 are needed to confirm that a
short-term low has been posted. If March renews the decline off November’s
high, October’s low crossing at 79.20 is the next downside target. First
resistance is the 20-day moving average crossing at 80.72. Second resistance is
the November 22nd gap crossing at 81.10. First support is last Wednesday’s low
crossing at 79.78. Second support is October’s low crossing at 79.20.

The March Euro was lower overnight as it 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 129.11 are needed
to confirm that a short-term top has been posted. If March renews the rally off
November’s low, September’s high crossing at 131.88 is the next upside target.
First resistance is last Wednesday’s high crossing at 131.42. Second resistance
is September’s high crossing at 131.88. First support is the 20-day moving
average crossing at 129.11. Second support is the reaction low crossing at
127.60.

The March British Pound was higher due to short covering overnight as it
consolidates some of last week’s decline. Stochastics and the RSI have turned
bearish signaling that a short-term top might be in or is near. Closes below
the 20-day moving average crossing at 1.5980 are needed to confirm that a
short-term top has been posted. If March renews the rally off November’s low,
November’s high crossing at 1.6140 is the next upside target. First resistance
is November’s high crossing at 1.6140. Second resistance is the reaction high
crossing at 1.6165. First support is the 20-day moving average crossing at
1.5980. Second support is the reaction low crossing at 1.5903.

The March Swiss Franc was lower overnight as it extends last 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 .10715 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, October’s high crossing at .10874 is the next upside target.
First resistance is November’s high crossing at .10842. Second is October’s
high crossing at .10874. First support is the 20-day moving average crossing at
.10715. Second support is November’s low crossing at .10555.

The March Canadian Dollar was higher overnight as it extends last week’s
breakout above the September-October downtrend line. Stochastics and the RSI
are overbought but remain neutral to bullish signaling that sideways to higher
prices are possible near-term. If March extends the rally off November’s low,
the reaction high crossing at 102.10 is the next upside target. Closes below
the 20-day moving average crossing at 100.23 would signal that a short-term top
has been posted. First resistance is the overnight high crossing at 101.14.
Second resistance is the reaction high crossing at 102.10. First support is the
20-day moving average crossing at 100.23. Second support is November’s low
crossing at 99.19.

The March Japanese Yen was higher overnight while extending the trading
range of the past three weeks. 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 .12259 are needed to confirm that a
short-term low has been posted. If March renews the decline off September’s
high, March’s low crossing at .12000 is the next downside target. First
resistance is the reaction high crossing at .12253. Second resistance is the
20-day moving average crossing at .12259. First support is November’s low
crossing at .12088. Second support is March’s low crossing at .12000.

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

February gold was higher overnight as it extends the rebound off last
Friday’s low. Stochastics and the RSI are oversold and are turning neutral to
bullish signaling that a low might be in or is near. Multiple closes above the
20-day moving average crossing at 1723.00 are needed to confirm that a
short-term low has been posted. If February extends the decline off November’s
high, November’s low crossing at 1674.70 is the next downside target. First
resistance is the 20-day moving average crossing at 1723.00. Second resistance
is November’s high crossing at 1757.10. First support is last Friday’s low
crossing at 1684.10. Second support is November’s low crossing at 1674.70.

March silver was higher due to short covering overnight as it consolidates
some of last week’s decline. Stochastics and the RSI remain neutral to bearish
signaling that sideways to lower prices are possible near-term. If March renews
last week’s decline, the reaction low crossing at 32.110 is the next downside
target. Closes above the 10-day moving average crossing at 33.469 would confirm
that a short-term low has been posted. First resistance is November’s high
crossing at 34.490. Second resistance is October’s high crossing at 35.510.
First support is the reaction low crossing at 32.110. Second support is
November’s low crossing at 30.790.

March copper was higher overnight and trading above the 62% retracement
level of the September-November decline crossing at 368.32 as it extends the
rally off November’s low. Stochastics and the RSI are overbought but are
neutral signaling that sideways to higher prices are possible near-term. If
March extends the rally off November’s low, the 75% retracement level of the
September-November decline crossing at 374.08 is the next upside target. Closes
below the 20-day moving average crossing at 356.87 would confirm that a
short-term top has been posted. First resistance is the overnight high crossing
at 371.20. Second resistance is the 75% retracement level of the
September-November decline crossing at 374.08. First support is the 10-day
moving average crossing at 363.57. Second support is the 20-day moving average
crossing at 356.87.

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

March coffee close higher due to short covering on Friday. The high-range
close set the stage for a steady to higher opening on Monday. Stochastics and
the RSI are neutral to bullish hinting that a low might be in or is near.
Closes above the reaction high crossing at 15.71 would confirm that a
short-term low has been posted. If March renews the decline off October’s high,
weekly support crossing at 12.90 is the next downside target.

March cocoa closed lower on Friday as it extends the decline off Monday’s
high. The mid-range close sets the stage for a steady to lower opening on
Monday. Stochastics and the RSI remain bearish signaling that sideways to lower
prices are possible near-term. If March extends this week’s decline, November’s
low crossing at 23.22 is the next downside target. Closes above the 10-day
moving average crossing at 24.58 would confirm that a short-term low has been
posted.

March sugar closed lower on Friday. The mid-range close set the stage for a
steady to lower opening on Monday. Stochastics and the RSI are turning bearish
signaling that sideways to lower prices are possible near-term. If March renews
the decline off October’s high, the 75% retracement level of the 2010-2011
rally crossing at 17.38 is the next downside target. If March renews Monday’s
rally, November’s high crossing at 20.03 is the next upside target.

March cotton closed higher due to short covering on Friday. The high-range
close sets the stage for a steady to higher opening on Monday. Stochastics and
the RSI are neutral to bearish signaling that sideways to lower prices are
possible near-term. Closes below the 20-day moving average crossing at 72.46
would confirm that a short-term top has been posted. If March renews the rally
off November’s low, October’s high crossing at 76.39 is the next upside target.
——————————

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

March corn was lower overnight as it extends the decline off November’s
high. Stochastics and the RSI are bearish signaling that sideways to lower
prices are possible near-term. If March extends the aforementioned decline,
November’s low crossing at 7.14 1/4 is the next downside target. Closes above
the 10-day moving average crossing at 7.52 1/2 would temper the near-term
bearish outlook. First resistance is the 10-day moving average crossing at 7.52
1/2. Second resistance is November’s high crossing at 7.67 1/2. Second
resistance is October’s high crossing at 7.75 3/4. First support is the
overnight low crossing at 7.32. Second support is November’s low crossing at
7.14 1/4.

March wheat was lower overnight as it extends last week’s trading range.
Stochastics and the RSI remain neutral to bearish signaling that sideways to
lower prices are possible near-term. If March renews the decline off November’s
high, the 38% retracement level of the May-July rally crossing at 8.38 is the
next downside target. If March renews the rally off November’s low, the
reaction high crossing at 9.08 is the next upside target. First resistance is
the reaction high crossing at 8.95 1/2. Second resistance is the reaction high
crossing at 9.08. First support is last Tuesday’s low crossing at 8.51 1/2.
Second support is November’s low crossing at 8.45.

March Kansas City Wheat closed down 2 1/4-cents at 9.09 3/4.

March Kansas City wheat closed lower on Friday. The low-range close sets the
stage for a steady to lower opening on Monday. Stochastics and the RSI are
neutral to bearish signaling that sideways to lower prices are possible
near-term. If March extends the decline off last week’s high, November’s low
crossing at 8.92 1/2 is the next downside target. Closes above the 10-day
moving average crossing at 9.15 3/4 would confirm that a short-term low has
been posted. First resistance is the 20-day moving average crossing at 9.15
3/4. Second resistance is last Wednesday’s high crossing at 9.39. First support
is Tuesday’s low crossing at 8.98 1/2. Second support is November’s low
crossing at 8.92 1/2.

March Minneapolis wheat was fractionally higher overnight as it extends last
week’s trading range. The high-range close sets the stage for a steady to
higher opening when the day session begins trading. Stochastics and the RSI are
neutral signaling that sideways trading is possible near-term. If March renews
the decline off the late-November high, November’s low crossing at 9.16 1/2 is
the next downside target. If March renews the rally off November’s low,
November’s high crossing at 9.74 1/4. First resistance is the reaction high
crossing at 9.57. Second resistance is November’s high crossing at 9.74 1/4.
First support is last Tuesday’s low crossing at 9.25 1/4. Second support is
November’s low crossing at 9.16 1/2.

SOYBEAN COMPLEX

January soybeans were higher overnight as it consolidated some of last
Friday’s decline. Stochastics and the RSI are overbought and are turning
neutral to bearish signaling that a short-term top might be in or is near.
Closes below the 20-day moving average crossing at 14.34 1/4 would confirm that
a short-term top has been posted. If January extends the rally off November’s
low, the reaction high crossing at 15.23 is the next upside target. First
resistance is last Friday’s high crossing at 14.98 1/4. Second resistance is
the reaction high crossing at 15.23. First support is the 20-day moving average
crossing at 14.34 1/4. Second support is November’s low crossing at 13.72 1/4.

January soybean meal was higher due to short covering overnight as it
consolidates some of last Friday’s decline. 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 432.40 are needed
to confirm that a short-term top has been posted. If January extends the rally
off November’s low, the 38% retracement level of the September-November decline
crossing at 461.30 is the next upside target. First resistance is last Friday’s
high crossing at 452.90. Second resistance is the 38% retracement level of the
September-November decline crossing at 461.30. First support is the 20-day
moving average crossing at 432.40. Second support is November’s low crossing at
415.10.

January soybean oil was slightly lower in late-overnight trading.
Stochastics and the RSI are overbought but remain neutral to bullish hinting
that additional short-term gains are still possible. If January extends the
rally off November’s low, the 50% retracement level of the September-November
decline crossing at 52.81 is the next upside target. Closes below the 20-day
moving average crossing at 49.41 would confirm that a short-term top has been
posted. First resistance is the 38% retracement level of the September-November
decline crossing at 51.42. Second resistance is the 50% retracement level of
the September-November decline crossing at 52.81. First support is the 20-day
moving average crossing at 49.41. Second support is November’s low crossing at
46.89.

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

February hogs closed down $0.98 at $83.47.

February hogs gapped down and closed lower on Friday as it extends the
decline off November’s high. The mid-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 February extends this week’s decline,
November’s low crossing at 86.65 is the next downside target. Closes above the
20-day moving average crossing at 86.39 would confirm that a short-term low has
been posted. First resistance is the 20-day moving average crossing at 86.39.
Second resistance is November’s high crossing at 88.25. First support is
today’s low crossing at 83.20. Second support is November’s low crossing at
86.65.

February cattle closed down $0.62 at 130.40.

February cattle closed lower on Friday and remain poised to extend 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 are neutral to bearish signaling that sideways to lower prices are possible
near-term. If February extends the decline off November’s high, the reaction
low crossing at 128.90 is the next downside target. Closes above the 10-day
moving average crossing at 131.17 would temper the near-term bearish outlook.
First resistance is the 10-day moving average crossing at 131.17. Second
resistance is November’s high crossing at 132.90. First support is the reaction
low crossing at 128.90. Second support is November’s low crossing at 128.15.

January feeder cattle closed up $0.52 at $148.77.

January Feeder cattle closed higher on Friday as it extends this week’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 have turned
bullish signaling that sideways to higher prices are possible near-term. If
January extends this week’s rally, October’s high crossing at 150.80 is the
next upside target. Closes below November’s low crossing at 144.37 would renew
the decline off September’s high. First resistance is today’s high crossing at
148.90. Second resistance is October’s high crossing at 150.80. First support
is Monday’s low crossing at 145.05. Second support is November’s low crossing
at 144.34.

_____________________________________________________________________

T H A N K   Y O U
_____________________________________________________________________

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Friday NAS -11.23 USD +0.181 CRB +1.97 Gold +0.59 S&P +4.13 DOW +81.09

F R I D A Y   E V E N I N G   E X T R E M E   M A R K E T S
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STOCK INDEXES & MARKETS http://quotes.ino.com/exchanges/?c=indexes+

The March NASDAQ 100 closed lower on Friday and is poised to renew 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
have turned bearish hinting that a short-term top might be in or is near.
Closes below the 20-day moving average crossing at 2608.17 are needed to
confirm that a short-term top has been posted. If March renews the rally off
November’s low, the 62% retracement level of the September-November decline
crossing at 2715.55 is the next upside target. First resistance is Monday’s
high crossing at 2688.00. Second resistance is the 62% retracement level of the
September-November decline crossing at 2715.55. First support is the 20-day
moving average crossing at 2608.17. Second support is November’s low crossing
at 2502.00.

The March S&P 500 closed higher on Friday. 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
hinting that a short-term top might be in or is near. Closes below the 20-day
moving average crossing at 1385.23 are needed to confirm that a short-term top
has been posted. If March extends the rally off November’s low, November’s high
crossing at 1418.40 is the next upside target. First resistance is Monday’s
high crossing at 1415.00. Second resistance is November’s high crossing at
1418.40. First support is the 20-day moving average crossing at 1385.23. Second
support is November’s low crossing at 1340.00.

The Dow closed 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 are neutral to bullish signaling
that sideways to higher prices are possible near-term. If the Dow extends the
rally off November’s low, November’s high crossing at 13,290 is the next upside
target. Closes below the 20-day moving average crossing at 13,877 would confirm
that a short-term top has been posted. First resistance is today’s high
crossing at 13,145. Second resistance is November’s high crossing at 13,290.
First support is the 20-day moving average crossing at 13,877. Second support
is November’s crossing at 12,471.
______________________________

_______________________________________

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

March T-bonds closed down 30/32′s at 149-17.

March T-bonds closed lower 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 on Monday. Stochastics and the RSI are neutral to bullish signaling
that sideways to higher prices are possible near-term. If March extends the
rally off last week’s low, November’s high crossing at 151-10 is the next
upside target. Closes below the reaction low crossing at 148-11 would confirm
that a short-term top has been posted while opening the door for additional
weakness near-term. First resistance is November’s high crossing at 151-10.
Second resistance is July’s high crossing at 153-11. First support is the
reaction low crossing at 148-11. Second support is the reaction low crossing at
146-08.

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

January crude oil 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. Stochastics and the RSI are bearish signaling that
sideways to lower prices are possible near-term. If January renews the decline
off September’s high, the 87% retracement level of the June-September rally
crossing at 82.36 is the next downside target. Closes above the reaction high
crossing at 89.67 are needed to confirm an upside breakout of a six week old
trading range. First resistance is the reaction high crossing at 89.67. Second
resistance is the reaction high crossing at 93.98. First support is the 75%
retracement level of the June-September rally crossing at 85.06. Second support
is the 87% retracement level of the June-September rally crossing at 82.36.

January heating oil 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 bearish
signaling that sideways to lower prices are possible near-term. If January
extends the decline off this week’s high, the 50% retracement level of the
June-October rally crossing at 290.21 is the next downside target. Closes above
the 20-day moving average crossing at 301.98 would signal that a short-term low
has been posted. First resistance is the 20-day moving average crossing at
301.98. Second resistance is the reaction high crossing at 310.26. First
support is today’s low crossing at 291.23. Second support is the 50%
retracement level of the June-October rally crossing at 290.21.

January unleaded gas closed slightly higher due to short covering on Friday
as it consolidates some of this week’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 bearish signaling that sideways to lower prices are
possible near-term. If January extends this week’s decline, November’s low
crossing at 253.24 is the next downside target. Closes above the 10-day moving
average crossing at 268.07 would confirm that a short-term low has been posted.
First resistance is the 10-day moving average crossing at 268.07. Second
resistance is Monday’s high crossing at 276.20. First support is Thursday’s low
crossing at 258.93. Second support is November’s low crossing at 253.24.

January Henry natural gas 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 oversold and are turning bullish hinting that a low might be in or is near.
Closes above the 20-day moving average crossing at 3.772 are needed to confirm
that a short-term low has been posted. If January extends the decline off
November’s high, the 62% retracement level of the April-October rally crossing
at 3.454 is the next downside target. First resistance is the 20-day moving
average crossing at 3.772. Second resistance is the reaction high crossing at
3.914. First support is Wednesday’s low crossing at 3.507. Second support is
the 62% retracement level of the April-October rally crossing at 3.454.

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

The March Dollar closed higher on Friday as it consolidates some of the
decline off November’s high. The low-range close sets the stage for a steady to
lower opening on Monday. 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 80.76 are needed to confirm that a short-term
low has been posted. If March renews the decline off November’s high, the 75%
retracement level of the September-November rally crossing at 79.62 is the next
downside target. First resistance is the 20-day moving average crossing at
80.76. Second resistance is the reaction high crossing at 81.42. First support
is Wednesday’s low crossing at 79.78. Second support is the 75% retracement
level of the September-November rally crossing at 79.62.

The March Euro closed lower on Friday as it extends Thursday’s decline below
the 10-day moving average. The mid-range close sets the stage for a steady
opening on Monday. 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 129.01 would confirm that a short-term top
has been posted. If March renews the rally off November’s low, September’s high
crossing at 131.88 is the next upside target. First resistance is October’s
high crossing at 131.55. Second resistance is September’s high crossing at
131.88. First support is the 20-day moving average crossing at 129.01. Second
support is today’s low crossing at 128.92.

The March British Pound closed lower on Friday and below the 10-day moving
average crossing at 1.6045 signaling that a short-term top is in or is near.
The mid-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 bearish hinting that a short-term top might be in or is near. Closes
below the 20-day moving average crossing at 1.5972 are needed to confirm that a
short-term top has been posted. If March renews the rally off November’s low,
November’s high crossing at 1.6140 is the next upside target. First resistance
is Tuesday’s high crossing at 1.6126. Second resistance is November’s high
crossing at 1.6140. First support is the 20-day moving average crossing at
1.5973. Second support is the reaction low crossing at 1.5903.

The March Swiss Franc closed lower on Friday as it extends this week’s
decline. The mid-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 hinting that a short-term top might be or is near. Closes
below the 20-day moving average crossing at .10707 would confirm that a
short-term low has been posted. If March renews the rally off November’s low,
October’s high crossing at .10874 is the next upside target. First resistance
is November’s high crossing at .10842. Second resistance is October’s high
crossing at .10874. First support is the 20-day moving average crossing at
.10707. Second support is November’s low crossing at .10555.

The March Canadian Dollar closed higher on Friday as it extends this week’s
breakout above the September-October downtrend line crossing near 100.45. 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 overbought but remain
neutral to bullish signaling that sideways to higher prices are possible
near-term. If March extends the rally off November’s low, the reaction high
crossing at 102.10 is the next upside target. Closes below the 20-day moving
average crossing at 100.16 would signal that a short-term top has been posted.
First resistance is today’s high crossing at 101.02. Second resistance is the
reaction high crossing at 102.10. First support is the 20-day moving average
crossing at 100.16. Second support is the 50% retracement level of the
June-September rally crossing at 99.26.

The March Japanese Yen closed lower on Friday but 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 neutral to bullish hinting that a low
might be in or is near. Closes above the 20-day moving average crossing at
.12280 are needed to confirm that a short-term top has been posted. If March
renews this fall’s decline, March’s low crossing at .12000 are the next
downside target. First resistance is the reaction high crossing at .12253.
Second resistance is the 20-day moving average crossing at .12280. First
support is today’s low crossing at .12084. Second support is March’s low
crossing at .12000.

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

February gold closed higher due to short covering on Friday as it
consolidates some of the decline off November’s high. 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 bearish signaling that
sideways to lower prices are possible near-term. If February extends the
decline off November’s high, November’s low crossing at 1674.70 is the next
downside target. Closes above the 20-day moving average crossing at 1724.00
would temper the near-term bearish outlook. First resistance is the 20-day
moving average crossing at 1724.00. Second resistance is November’s high
crossing at 1757.10. First support is today’s low crossing at 1684.10. Second
support is November’s low crossing at 1674.70.

March silver closed higher due to short covering on Friday but remains below
the 20-day moving average crossing at 33.276. The high-range close set the
stage for a steady to higher opening when Monday’s night session begins
trading. Stochastics and the RSI remain bearish signaling that sideways to
lower prices are possible near-term. Closes above the 10-day moving average
crossing at 33.555 would temper the near-term bearish outlook. If March renews
the decline off November’s high, the reaction low crossing at 32.110 is the
next downside target. First resistance is November’s high crossing at 35.200.
Second resistance is October’s high crossing at 35.510. First support is the
reaction low crossing at 32.110. Second support is November’s low crossing at
30.790.

March copper closed higher on Friday as it consolidates some of Thursday’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 overbought but remain
neutral to bullish signaling that sideways to higher prices are possible
near-term. If March extends the rally off November’s low, the 75% retracement
level of the aforementioned decline crossing at 374.08 is the next upside
target. Closes below the 20-day moving average crossing at 355.64 would confirm
that a short-term top has been posted. First resistance is Wednesday’s high
crossing at 369.40. Second resistance is the 75% retracement level of the
aforementioned decline crossing at 374.08. First support is the 10-day moving
average crossing at 362.02. Second support is the 20-day moving average
crossing at 355.64.

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

March coffee close higher due to short covering on Friday. The high-range
close set the stage for a steady to higher opening on Monday. Stochastics and
the RSI are neutral to bullish hinting that a low might be in or is near.
Closes above the reaction high crossing at 15.71 would confirm that a
short-term low has been posted. If March renews the decline off October’s high,
weekly support crossing at 12.90 is the next downside target.

March cocoa closed lower on Friday as it extends the decline off Monday’s
high. The mid-range close sets the stage for a steady to lower opening on
Monday. Stochastics and the RSI remain bearish signaling that sideways to lower
prices are possible near-term. If March extends this week’s decline, November’s
low crossing at 23.22 is the next downside target. Closes above the 10-day
moving average crossing at 24.58 would confirm that a short-term low has been
posted.

March sugar closed lower on Friday. The mid-range close set the stage for a
steady to lower opening on Monday. Stochastics and the RSI are turning bearish
signaling that sideways to lower prices are possible near-term. If March renews
the decline off October’s high, the 75% retracement level of the 2010-2011
rally crossing at 17.38 is the next downside target. If March renews Monday’s
rally, November’s high crossing at 20.03 is the next upside target.

March cotton closed higher due to short covering on Friday. The high-range
close sets the stage for a steady to higher opening on Monday. Stochastics and
the RSI are neutral to bearish signaling that sideways to lower prices are
possible near-term. Closes below the 20-day moving average crossing at 72.46
would confirm that a short-term top has been posted. If March renews the rally
off November’s low, October’s high crossing at 76.39 is the next upside target.

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

March Corn closed down 14 1/4-cents at 7.37 1/4.

March corn closed lower on Friday and below the 20-day moving average
crossing at 7.45 1/4 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 bearish signaling
that additional weakness is possible near-term. If March extends this week’s
decline, November’s low crossing at 7.14 1/4 is the next downside target.
Closes above the 10-day moving average crossing at 7.54 1/4 would temper the
near-term friendly outlook. First resistance is last Wednesday’s high crossing
at 7.67 1/2. Second resistance is October’s high crossing at 7.75 3/4. First
support is today’s low crossing at 7.35. Second support is November’s low
crossing at 7.14 1/4.

March wheat closed down 1-cents at 8.61.

March wheat closed lower on Friday as it extends this week’s trading range.
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 neutral to
bearish signaling that sideways to lower prices are possible near-term. If
March extends the decline off last week’s high, November’s low crossing at 8.45
is the next downside target. Closes above the 10-day moving average crossing at
8.69 1/4 would temper the near-term bearish outlook. If March renews the rally
off November’s low, the reaction high crossing at 8.95 is the next upside
target. First resistance is last Wednesday’s high crossing at 8.80. Second
resistance is the reaction high crossing at 8.95. First support is Tuesday’s
low crossing at 8.51 1/2. Second support is November’s low crossing at 8.45.

March Kansas City Wheat closed down 2 1/4-cents at 9.09 3/4.

March Kansas City wheat closed lower on Friday. The low-range close sets the
stage for a steady to lower opening on Monday. Stochastics and the RSI are
neutral to bearish signaling that sideways to lower prices are possible
near-term. If March extends the decline off last week’s high, November’s low
crossing at 8.92 1/2 is the next downside target. Closes above the 10-day
moving average crossing at 9.15 3/4 would confirm that a short-term low has
been posted. First resistance is the 20-day moving average crossing at 9.15
3/4. Second resistance is last Wednesday’s high crossing at 9.39. First support
is Tuesday’s low crossing at 8.98 1/2. Second support is November’s low
crossing at 8.92 1/2.

March Minneapolis wheat closed down 1 1/4-cents at 9.34.

March Minneapolis wheat closed lower on Friday as it extends this week’s
trading range. The mid-range close sets the stage for a steady opening when
Monday’s night session begins to trade. Stochastics and the RSI are neutral to
bearish signaling that sideways to lower prices are possible near-term. If
March extends the decline off last week’s high, November’s low crossing at 9.16
1/2 is the next downside target. If March renews the rally off November’s low,
November’s high crossing at 9.74 1/4 is the next upside target. First
resistance is last Wednesday’s high crossing at 9.57. Second resistance is
November’s high crossing at 9.74 1/4. First support is November’s low crossing
at 9.16 1/2. Second support is the 50% retracement level of this summer’s rally
crossing at 8.88 1/2.

SOYBEAN COMPLEX

January soybeans closed down 19-cents at 14.72 1/4.

January soybeans posted a key reversal down on Friday 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 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 January extends the rally
off November’s low, the reaction high crossing at 15.23 is the next upside
target. Closes below the 20-day moving average crossing at 14.33 would temper
the near-term friendly outlook. First resistance is today’s high crossing at
14.98 1/4. Second resistance is the reaction high crossing at 15.23. First
support is the 20-day moving average crossing at 14.33. Second support is
November’s low crossing at 13.72 1/4.

January soybean meal closed down $7.80 at $442.90.

January soybean meal posted a key reversal down due to profit taking on
Friday 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 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
January extends the rally off November’s low, the reaction high crossing at
467.50 is the next upside target. Closes below the 20-day moving average
crossing at 432.50 would confirm that a short-term top has been posted. First
resistance is today’s high crossing at 452.90. Second resistance is the
reaction high crossing at 467.70. First support is the 20-day moving average
crossing at 432.50. Second support is November’s low crossing at 416.70.

January soybean oil closed down 5-pts. at 51.62.

January soybean closed lower on Friday as it consolidates some of the rally
off November’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 bullish signaling that sideways to higher prices are
possible near-term. If January renews the rally off November’s low, the 50%
retracement level of the September-November decline crossing at 53.13 is the
next upside target. Closes below the 20-day moving average crossing at 49.72
are needed to confirm that a short-term low has been posted. First resistance
is today’s high crossing at 51.85. Second resistance is the 50% retracement
level of the September-November decline crossing at 53.13. First support is the
20-day moving average crossing at 49.72. Second support is November’s low
crossing at 46.89.

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

February hogs closed down $0.98 at $83.47.

February hogs gapped down and closed lower on Friday as it extends the
decline off November’s high. The mid-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 February extends this week’s decline,
November’s low crossing at 86.65 is the next downside target. Closes above the
20-day moving average crossing at 86.39 would confirm that a short-term low has
been posted. First resistance is the 20-day moving average crossing at 86.39.
Second resistance is November’s high crossing at 88.25. First support is
today’s low crossing at 83.20. Second support is November’s low crossing at
86.65.

February cattle closed down $0.62 at 130.40.

February cattle closed lower on Friday and remain poised to extend 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 are neutral to bearish signaling that sideways to lower prices are possible
near-term. If February extends the decline off November’s high, the reaction
low crossing at 128.90 is the next downside target. Closes above the 10-day
moving average crossing at 131.17 would temper the near-term bearish outlook.
First resistance is the 10-day moving average crossing at 131.17. Second
resistance is November’s high crossing at 132.90. First support is the reaction
low crossing at 128.90. Second support is November’s low crossing at 128.15.

January feeder cattle closed up $0.52 at $148.77.

January Feeder cattle closed higher on Friday as it extends this week’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 have turned
bullish signaling that sideways to higher prices are possible near-term. If
January extends this week’s rally, October’s high crossing at 150.80 is the
next upside target. Closes below November’s low crossing at 144.37 would renew
the decline off September’s high. First resistance is today’s high crossing at
148.90. Second resistance is October’s high crossing at 150.80. First support
is Monday’s low crossing at 145.05. Second support is November’s low crossing
at 144.34.

______________________________

______________________________________________

E X T R E M E   F U T U R E S
____________________________________________________________________________

Updated every 10 minutes around the clock.
More at http://quotes.ino.com/analysis/extremes/futures/

WINNERS

BCX.F13 SOYBEANS CRUSH INDEX Jan 2013               64.50      1.00  +1.57
CSI.K13 SOYBEAN-CORN PRICE RATIO May 2013           1.966     0.022  +1.13
LB.H13  RANDOM LENGTH LUMBER Mar 2013               353.7       3.4  +0.97
DJ.Z12  DJ INDUSTRIAL AVG Dec 2012                  13143        80  +0.61
RV      RUSSELL 1,000 VALUE MINI                   709.81      3.84  +0.54
FC.F13  FEEDER CATTLE Jan 2013                    148.775     0.525  +0.35
SP.M14  S&P 500 INDEX Jun 2014                     1376.6       3.1  +0.23
YW.N13  MINI WHEAT Jul 2013                        873.75      0.75  +0.09
GH      RUSSELL 2000 GROWTH INDEX                  468.55      0.31  +0.07
BO.N13  SOYBEAN OIL Jul 2013                        52.46      0.03  +0.06

LOSERS

BCX.U13 SOYBEANS CRUSH INDEX Sep 2013               71.00     -1.75  -2.41
C.Z12   CORN Dec 2012                              732.75    -15.00  -2.00
SM.F13  SOYBEAN MEAL Jan 2013                       442.0      -8.7  -1.93
YC.H13  MINI CORN Mar 2013                         737.25    -14.25  -1.89
LH.Z12  LEAN HOGS Dec 2012                          82.30     -1.15  -1.38
S.F13   SOYBEANS Jan 2013                         1472.25    -19.00  -1.28
YK.F13  MINI SOYBEAN Jan 2013                     1472.25    -19.00  -1.28
LB.F13  RANDOM LENGTH LUMBER Jan 2013               343.2      -2.4  -0.69
ND.H13  NASDAQ 100 INDEX Mar 2013                 2630.00    -18.25  -0.69
US.H13  US TREASURY BOND Mar 2013               149.53125  -0.96875  -0.64

———————————————————————

Free Video Seminar – “Spotting breakouts that lead to trend reversals”

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____________________________________________________________________________

E X T R E M E   S T O C K S
____________________________________________________________________________

Updated every 10 minutes around the clock.
More at http://quotes.ino.com/analysis/extremes/stocks/

WINNERS

CBMX    COMBIMATRIX                                 8.541     6.571  +272.64
MDBX    MEDBOX                                      29.10      6.60  +29.33
PAMT    PARAMETRIC SOUND                             5.11      0.77  +17.74
UNXL    UNI-PIXEL                                  9.6884    1.4284  +17.29
PTSI    PAM TRANS                                   10.29      1.18  +12.95
CUI     CUI GLOBAL                                   5.90      0.60  +11.32
SAB     GRUPO CASA SABA                              7.10      0.70  +10.94
FSS     FRONT STREET STRATEGIC YIELD F               6.30      0.60  +10.53
SGMO    SANGAMO BIOSCIENCES                          5.94      0.53  +9.80
CYAN    CYANOTECH                                  5.0101    0.4101  +8.92

LOSERS

AMRN    AMARIN                                       9.69     -2.26  -18.77
RGC     REGAL ENTERTAINMENT                         14.40     -1.44  -9.09
SWHC    SMITH & WESSON HOLDINGS                      9.92     -0.93  -8.57
SPRD    SPREADTRUM COMMUNICATIONS                   15.95     -1.42  -8.18
SRPT    SAREPTA THERAPEUTICS                        25.29     -2.19  -7.97
HVU     HORIZONS BETAPRO S&P 500 VIX B               5.31     -0.42  -7.33
MACK    MERRIMACK PHARMACEUTICALS                    6.21     -0.49  -7.31
CCSC    COUNTRY STYLE COOKING                        6.42     -0.50  -7.23
YOKU    YOUKU TUDOU                                 13.95     -1.04  -6.94
NXY     NEXEN                                       23.53     -1.64  -6.69
_____________________________________________________________________

T H A N K   Y O U
_____________________________________________________________________

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Strategia – 06/12/2012 – 13:06

Le Borse europee arretrano dai massimi di stamattina, ma si mantengono forti ad eccezione dell’Italia, zavorrata dalla notizia che il PDL ha fatto mancare il voto di fiducia al Senato sul Decreto Sviluppo. Il provvedimento è comunque passato: Dax +0,8% (dati sopra le attese sulla produzione manifatturiera), Cac +0,2%, Ibex -0,2%.

FTSE/MIB (15.780, -1,1%). Peggiora vistosamente (è arrivato a -2%) dopo un avvio sostenuto in scia agli altri listini. L’impostazione di medio periodo è ancora di trading-range tra il sostegno verso 15.000/14.500 punti e la fascia resistenziale verso 17mila punti. C’è quindi ancora spazio per il rimbalzo in corso, anche se gli altri indici europei sono già arrivati sull’estremo superiore dell’equivalente fascia di congestione, pertanto ci manteniamo un pò più cauti.

Eur/Usd (1,307). L’euro si mantiene tonico ma viene respinto dalla nostra area target di breve (1,31) per le posizioni attivate sulla debolezza in area 1,28/1,275.

Il bund future (143,20, ovvero 145 sul nuovo contratto con scadenza marzo) resta sulla parta dello stretto range delle ultime settimane tra 142 e 143,5, che diventa 145,2/143,5 sul nuovo contratto.

Il BTP future (111,75) è al terzo giorno di consolidamento, riteniamo che il grosso del cammino sia già stato fatto. Al rialzo prima resistenza di rilievo verso 114 punti. Sostegno verso 107.

Lo spread Btp/Bund torna a salire a 325 punti base (+15 pb), con un rendimento del Btp 10 anni al 4,58%. Probabile qualche contraccolpo dalle tensioni politiche.

Titoli:

AUTOGRILL (7,8 eu, Long da 7,55 eu) -0,4%. Si sta sviluppando bene la reazione dall’area di sostegno verso 7,2 eu, nonostante la pausa delle ultime due sedute. C’è spazio per raggiungere il target verso 8,4 eu (ritoccato dal precedente 8,6 eu). Stop sotto 7,2 eu.

ATLANTIA (13,02 eu, Short da 12,01 eu) -0,3%.
Continua a mettere pressione allo stop loss che scatterebbe con chiusure di seduta sopra 13,15 eu. Restiamo peò in posizione, ma teniamo elevata l’allerta.

FIAT (3,57 eu, Long da 3,45 eu) -1%. Consolida dopo l’accelerazione delle ultime sedute. Lo spazio di recupero resta interessante. Target verso 4,2 eu. Stop loss sotto 3,2 eu.

FINMECCANICA (4,13 eu, Long da 3,70 eu) -1,1%.
Segna nuovi top da metà ottobre (4,24 eu) prima di correggere. Resta molto ben intonata. Manteniamo per target finale a 4,40 eu. Stop sotto 3,4 eu.

FONDIARIA (0,94 eu, Long da 0945 eu) +0,1%. Il rimbalzo dovrebbe proseguire in scia all’ottimo andamento del settore assicurativo europeo. Target finale in area 1,10/1,15 eu. Stop loss sotto 0,9 eu. Suggerito Long nella rubrica “TRADING INTRADAY”.

GENERALI (13,11 eu, Long da 12 eu) -0,6%. Pienamente centrata l’area target finale verso 13,5 eu. Strategia chiusa.

IMPREGILO (3,19 eu, Long da 3,15 eu) -1,3%. Si è momentaneamente arrestata l’accelerazione seguita all’uscita dalla congestione tra 3,0 e 3,15 eu. Nel medio periodo c’è ancora spazio al rialzo. Target verso 3,60 eu. Stop sotto 2,95 eu.

INTESA (1,293 eu, Long da 1,26 eu) -1,4%. Brusco dietrofront dai top intraday (1,325 eu), ma resta valido il target verso 1,45 eu. Stop loss sotto 1,15 eu.

MILANO ASS. (0,314 eu, Long da 3,05 eu) +0,1%. Resta valido lo scenario di recupero, anche se bisognerà attendere i concambi della fusione (forse il 20 dicembre) prima che il titolo ritrovi smalto. Manteniamo il Long per target verso 0,35 eu. Stop loss sotto 0,275 eu.

PIAGGIO {10} (1,93 eu, Long da 1,7 eu) -1,7%. Sul balzo di ieri ha raggiunto l’area target verso 2,0 eu. In caso di superamento in chiusura di quota 2,0 eu siamo però pronti a rientrare in tendenza.

SAIPEM {11} (30,2 eu, Long da 30 eu) -8%. Il tracollo di oggi ha riportato i prezzi su un livello interessante che consente di attivare una strategia d’acquisto sulla debolezza. Target finale verso 35 eu. Stop loss 28 eu.

SOGEFI {12} (1,90 eu, Long da 1,9 eu) -0,6%. Ha riconosciuto bene il forte sostegno in area 1,8 eu, da dove ci attendiamo una reazione interessante. Target verso 2,2 eu. Stop loss sotto 1,72 eu.

UNICREDIT {13} (3,71 eu, Long da 3,50 eu) -0,7%. Arretra dopo aver sfiorato (max 3,85 eu) il target finale in area 3,90 eu. Sfruttiamo eventuali guizzi per prendere profitto.

NOTA: calcoliamo un’area di tolleranza del +/- 1,5% sui nostri livelli tecnici (entry level, target e stop loss). Lo stop loss scatta sulla base del prezzo di chiusura (non vengono considerate eventuali rotture intraday).

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