Key Market Reports and Commentary for Monday 25/02/2013

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

KEY EVENTS TO WATCH FOR:
Monday, February 25, 2013
8:30 AM ET. Jan Chicago Fed National Activity Index

National Activity Index (previous 0.02)

3 Month Moving Average (previous -0.11)

10:30 AM ET. Feb Texas Manufacturing Outlook Survey

Business Activity Index (previous 5.5)

Manufacturing Production Index (previous 12.9)

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

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

The March NASDAQ 100 closed higher due to short covering on Friday as it
consolidated some of this week’s decline. The high-range close sets the stage
for a steady to higher opening when Monday’s night session begins trading.
Stochastics and the RSI are bearish signaling that sideways to lower prices are
possible near-term. If March extends this week’s decline, the January 2nd gap
crossing at 2665.00 is the next downside target. Closes above the 10-day moving
average crossing at 2756.37 would confirm that a short-term low has been
posted. First resistance is the 10-day moving average crossing at 2756.37.
Second resistance is Wednesday’s high crossing at 2786.50. First support is
Thursday’s low crossing at 2699.50. Second support is the January 2nd gap
crossing at 2665.00.

The March S&P 500 closed higher due to short covering on Friday as it
consolidates some of this week’s decline. The high-range close sets the stage
for a steady to higher opening when Monday’s night session begins trading.
Stochastics and the RSI are bearish signaling that sideways to lower prices are
possible near-term. If March extends this week’s decline, the reaction low
crossing at 1490.50 is the next downside target. If March renews the rally off
November’s low, weekly resistance crossing at 1587.50 is the next upside
target. First resistance is Wednesday’s high crossing at 1530.00. Second
resistance is weekly resistance crossing at 1587.50. First support is the
reaction low crossing at 1490.50. Second support is the 25% retracement level
of the November-February rally crossing at 1482.65.

The Dow closed higher on Friday as it consolidated some of the decline of
the past two-days. The high-range close sets the stage for a steady to higher
opening on Monday. Stochastics and the RSI are bearish signaling that sideways
to lower prices are possible near-term. Closes below the reaction low crossing
at 13,852 are needed to confirm that a short-term top has been posted. If the
Dow renews the rally off November’s low, the 2007 high crossing at 14,198 is
the next upside target. First resistance is Wednesday’s high crossing at
14,058. Second resistance is monthly resistance crossing at 14,198. First
support is the reaction low crossing at 13,852. Second support is the 25%
retracement level of the November-February rally crossing at 13,666.

______________________________

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

March T-bonds closed up 4/32’s at 143-31.

March T-bonds closed higher on Friday while extending the trading range of
the past three-weeks. 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. Closes above the reaction
high crossing at 144-13 are needed to confirm an upside breakout of the
aforementioned trading range. If March renews this winter’s decline, weekly
support crossing at 139-14 is the next downside target. First resistance is
today’s high crossing at 144-07. Second resistance is the reaction high
crossing at 144-13. First support is the reaction low crossing at 142-05.
Second support is weekly support crossing at 139-14.

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

April crude oil closed higher due to short covering on Friday as it rebounds
off the 50% retracement level of the November-February rally crossing at 92.56.
The high-range close sets the stage for a steady to higher opening when
Monday’s night session begins. Stochastics and the RSI are bearish signaling
that sideways to lower prices are possible near-term. If April extends this
week’s decline, the 62% retracement level of the November-February rally
crossing at 91.11 is the next downside target. Closes above the 20-day moving
average crossing at 96.75 would confirm that a low has been posted. First
resistance is the 20-day moving average crossing at 96.75. Second resistance is
this month’s high crossing at 98.24. First support is the 50% retracement level
of the November-February rally crossing at 92.56. Second support is the 62%
retracement level of the November-February rally crossing at 91.11.

March heating oil closed higher due to short covering on Friday
consolidating some of this month’s decline. The mid-range close sets the stage
for a steady opening when Monday’s night session begins trading. Stochastics
and the RSI are bearish signaling that sideways to lower prices are possible
near-term. If March extends the decline off this month’s high, the 50%
retracement level of the December-February crossing at 307.96 is the next
downside target. Closes above the 10-day moving average crossing at 318.97
would confirm that a short-term low has been posted. First resistance is the
20-day moving average crossing at 316.09. Second resistance is the 10-day
moving average crossing at 318.97. First support is Thursday’s low crossing at
308.86. Second support is the 50% retracement level of the December-February
crossing at 307.96.

March unleaded gas closed higher due to short covering on Friday as it
consolidated some of this week’s decline. The high-range close sets the stage
for a steady to higher opening when Monday’s night session begins trading.
Stochastics and the RSI are bearish hinting that a short-term top might be in
or is near. Closes below the 20-day moving average crossing at 303.63 would
confirm that a short-term top has been posted. If March renews this winter’s
rally, weekly resistance crossing at 321.83 is the next upside target. First
resistance is Tuesday’s high crossing at 316.91. Second resistance is weekly
resistance crossing at 321.83. First support is the 20-day moving average
crossing at 303.63. Second support is the 25% retracement level of the
June-February rally crossing at 293.53.

March Henry natural gas 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 bullish signaling that a low might be in or is near. Closes above the
20-day moving average crossing at 3.295 are needed to confirm that a short-term
low has been posted. If March renews the decline off January’s high, January’s
low crossing at 3.100 is the next downside target. First resistance is the
20-day moving average crossing at 3.295. Second resistance is the reaction high
crossing at 3.459. First support is last Friday’s low crossing at 3.125. Second
support is January’s low crossing at 3.100.

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

The March Dollar closed higher on Friday as it extends this month’s rally.
The high-range close sets the stage for a steady to higher opening on Monday.
Stochastics and the RSI are overbought but remain neutral to bullish signaling
that sideways to higher prices are possible near-term. If March extends this
month’s rally, the 50% retracement level of the July-February decline crossing
at 81.91 is the next upside target. Closes below the 20-day moving average
crossing at 80.19 would confirm that a short-term top has been posted. First
resistance is today’s high crossing at 81.70. Second resistance is the 50%
retracement level of the July-February decline crossing at 81.91. First support
is the 10-day moving average crossing at 80.72. Second support is the 20-day
moving average crossing at 80.19.

The March Euro closed higher due to short covering on Friday as it
consolidates some of this month’s decline. The mid-range close sets the stage
for a steady to lower opening on Tuesday. Stochastics and the RSI are oversold
but remain neutral to bearish signaling that sideways to lower prices are
possible near-term. If March extends this month’s decline, the 62% retracement
level of the November-February rally crossing at 130.77 is the next downside
target. Closes above the 20-day moving average crossing at 134.33 would temper
the near-term bearish outlook. First resistance is the 10-day moving average
crossing at 133.39. Second resistance is the 20-day moving average crossing at
134.33. First support is today’s low crossing at 131.47. Second support is the
62% retracement level of the November-February rally crossing at 130.77.

The March British Pound closed unchanged on Friday as it consolidates some
of this winter’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 oversold but remain neutral to bearish signaling that sideways to lower
prices are possible near-term. If March extends this year’s decline, weekly
support crossing at 1.4857 is the next downside target. Closes above the 20-day
moving average crossing at 1.5608 are needed to confirm that a short-term low
has been posted. First resistance is the 10-day moving average crossing at
1.5477. Second resistance is the 20-day moving average crossing at 1.5608.
First support is Thursday’s low crossing at 1.5124. Second support is weekly
support crossing at 1.4857.

The March Swiss Franc closed higher due to short covering on Friday as it
consolidated some of this month’s decline. The mid-range close sets the stage
for a steady opening when Monday’s night session begins trading. Stochastics
and the RSI are oversold but remain neutral to bearish signaling that sideways
to lower prices are possible near-term. If March extends this month’s decline,
January’s low crossing at .10657 is the next downside target. Closes above the
20-day moving average crossing at .10888 would confirm that a short-term low
has been posted. First resistance is the 20-day moving average crossing at
.10888. Second resistance is this month’s high crossing at .11090. First
support is Thursday’s low crossing at .10716. Second support is January’s low
crossing at .10657.

The March Canadian Dollar closed lower on Friday extending the decline off
January’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 March extends the decline off January’s high, the
75% retracement level of the 2011-2012-rally crossing at 97.31 is the next
downside target. Closes above the 20-day moving average crossing at 99.45 would
confirm that a short-term low has been posted. First resistance is the 10-day
moving average crossing at 99.00. Second resistance is the 20-day moving
average crossing at 99.45. First support is today’s low crossing at 97.45.
Second support is the 75% retracement level of the 2011-2012-rally crossing at
97.31.

The March Japanese Yen closed lower on Friday as it extends this month’s
trading range. The low-range close sets the stage for a steady to lower opening
when Monday’s night session begins trading. Stochastics and the RSI are bullish
hinting that a short-term low might be in or is near. Closes above the reaction
high crossing at .10854 are needed to confirm that a short-term top has been
posted. If March renews the decline off September’s high, monthly support
crossing at .10532 is the next downside target. First resistance is the 20-day
moving average crossing at .10791. Second resistance is the reaction high
crossing at .10854. First support is last Monday’s low crossing at .10588.
Second support is monthly support crossing at .10532.

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

April gold closed slightly lower on Friday extending the decline off last
October’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 remain neutral to bearish signaling that sideways to lower prices
are possible near-term. If April extends the decline off last October’s high,
last May’s low crossing at 1538.70 is the next downside target. Closes above
the 20-day moving average crossing at 1644.10 would confirm that a short-term
low has been posted. First resistance is the 10-day moving average crossing at
1619.10. Second resistance is the 20-day moving average crossing at 1644.10.
First support is Thursday’s low crossing at 1554.30. Second support is last
May’s low crossing at 1538.70.

May silver closed lower on Friday as it extended this month’s decline. The
low-range close set the stage for a steady to lower opening when Monday’s night
session begins trading. Stochastics and the RSI are oversold but remain neutral
to bearish signaling that sideways to lower prices are possible near-term. If
May extends this month’s decline, the 87% retracement level of the June-October
rally crossing at 27.529 is the next downside target. Closes above the 20-day
moving average crossing at 30.818 would confirm that a short-term low has been
posted. First resistance is the 10-day moving average crossing at 30.025.
Second resistance is the 20-day moving average crossing at 30.818. First
support is Wednesday’s low crossing at 28.315. Second support is the 87%
retracement level of the June-October rally crossing at 27.529.

May copper closed lower for the fourth day in a row on Friday as it extended
this month’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
oversold but remain bearish signaling that sideways to lower prices are
possible near-term. If May extends this week’s decline, December’s low crossing
at 353.40 is the next downside target. Closes above the 20-day moving average
crossing at 371.85 are needed to confirm that a short-term low has been posted.
First resistance is the 20-day moving average crossing at 371.85. Second
resistance is this month’s high crossing at 380.30. First support is today’s
low crossing at 354.20. Second support is December’s low crossing at 353.40.

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

March coffee gapped up and closed higher on Friday and above the 20-day
moving average crossing at 14.29 confirming that a short-term low has been
posted. 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 March renews the decline off January’s high, weekly
support crossing at 13.20 is the next downside target.

March cocoa closed higher on Friday. 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 21.78 would confirm that a short-term low has
been posted. If March renews the decline off September’s high, last June’s low
crossing at 20.65 is the next downside target.

March sugar closed higher on Friday. 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. Closes above
the 20-day moving average crossing at 18.36 would confirm that a short-term low
has been posted. If March extends this year’s decline, the 75% retracement
level of the 2010-2011 rally crossing at 17.38 is the next downside target.

March cotton closed slightly higher on Friday. 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 renews this winter’s rally, the 62% retracement level of
the 2012-decline crossing at 86.50 is the next upside target. Closes below the
reaction low crossing at 80.05 would confirm that a top has been posted.
——————————

—————————————

Free Video Seminar – “Avoiding Common Trading Pitfalls”

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

———————————————————————

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

March Corn closed down a 1/2-cents at 6.90 1/4.

March corn closed fractionally lower on Friday extending the trading range
of the past seven-days. Sluggish demand with only 14.2 million bushels in net
export sales and expiration of March corn options limited early-session rallies
today. Yesterday’s decline was triggered by USDA’s updated statistical forecast
for 2013 crops, which predicted a record 14.53 billion bushel crop and a
decline in average cash prices to $4.80. More details were released this
morning at the agency’s annual Outlook Forum, with projected carryout swelling
to 2.177 billion bushels. As someone who has followed the grain market for over
thirty years it is amazing that the trade has once again bought into the idea
of a record corn crop with planting season just beginning in Texas and
continued drought conditions still existing across much of the corn belt west
of the Mississippi. If seems as though each year traders are willing to call
for a record crop earlier and earlier in the season. Given there track record
over the past five years, you would think that they would be somewhat cautious
about jumping on the record crop band wagon this early in the year.
Nevertheless, it would appear that the combination of sluggish export demand,
declining ethanol output and the latest USDA prediction for a record corn crop
this year will likely keep the corn market on the defensive near-term. The
low-range close sets the stage for a steady to lower opening when Monday’s
night session begins trading. Stochastics and the RSI are oversold but remain
neutral to bearish signaling that sideways to lower prices are possible
near-term. If March renews this month’s decline, the reaction low crossing at
6.86 1/4 is the next downside target. Closes above the 20-day moving average
crossing at 7.13 1/4 are needed to confirm that a short-term low has been
posted. First resistance is the 10-day moving average crossing at 6.97 1/4.
Second resistance is the 20-day moving average crossing at 7.13 1/4. First
support is last Wednesday’s low crossing at 6.87 1/4. Second support is the
reaction low crossing at 6.86 1/4.

March wheat closed down 6 1/4-cents at 7.15.

March wheat closed lower on Friday extending yesterday’s close below the 75%
retracement level of 2012’s rally crossing at 7.25 3/4. This week’s winter
snowstorm has brought some moisture relief to parts of the plains, which has
helped to pull prices to their lowest levels since last-June. This morning’s
export sales report showed net wheat sales of 25.7 million bushels. 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 and remain
neutral to bearish signaling that sideways to lower prices are possible
near-term. If March extends this month’s decline, the 87% retracement level of
2012’s rally crossing at 6.88 3/4 is the next downside target. Closes above the
20-day moving average crossing at 7.52 1/2 are needed to confirm that a
short-term low has been posted. First resistance is the 20-day moving average
crossing at 7.52 1/2. Second resistance is the reaction high crossing at 7.70
3/4. First support is today’s low crossing at 7.13 1/2. Second support is the
87% retracement level of 2012’s rally crossing at 6.88 3/4.

March Kansas City Wheat closed down 7 1/2-cents at 7.49 3/4.

March Kansas City wheat closed lower on Friday extending 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 January’s high, the 75% retracement level of
2012’s rally crossing at 7.38 3/4 is the next downside target. Closes above the
20-day moving average crossing at 7.99 are needed to confirm that a short-term
low has been posted. First resistance is the 10-day moving average crossing at
7.75 1/4. Second resistance is the 20-day moving average crossing at 7.99.
First support is today’s low crossing at 7.49 3/4. Second support is the 75%
retracement level of 2012’s rally crossing at 7.38 3/4.

March Minneapolis wheat closed down 3 3/4-cents at 8.02 3/4.

March Minneapolis wheat closed lower on Friday as it extends this winter’s
decline. The low-range close sets the stage for a steady to lower 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 this month’s decline, the 87% retracement level of 2012’s rally
crossing at 7.79 is the next downside target. Closes above the 20-day moving
average crossing at 8.37 would confirm that a short-term low has been posted.
First resistance is the 10-day moving average crossing at 8.18 3/4. Second
resistance is the 20-day moving average crossing at 8.37. First support is
today’s low crossing at 8.01 3/4. Second support is the 87% retracement level
of 2012’s rally crossing at 7.79.

SOYBEAN COMPLEX

March soybeans closed down 26 1/2-cents at 14.61 1/4.

March soybeans posted a key reversal down on Friday. March soybeans surged
above $15 to 16-week highs overnight on news that China has been switching
purchases from Brazil back to the U.S. due to delays shipping the soybeans at
Brazilian ports. Harvest delays from heavy rains in the center-west of the
country have exacerbated the usual congestion, with backlogs running 30 to 45
days. Port workers are also staging a six-hour strike today, further
complicating the outlook. However, this morning’s export sales report showed a
net reduction of 4.4 million bushels in sales thereby trigging today’s sell
off. 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 remain neutral to bullish signaling that sideways to higher prices are
possible near-term. If March extends this week’s rally, November’s high
crossing at 15.45 is the next upside target. Closes below the 10-day moving
average crossing at 14.47 1/4 would temper the near-term friendly outlook.
First resistance is today’s high crossing at 15.16 1/2. Second resistance is
November’s high crossing at 15.45. First support is the 10-day moving average
crossing at 14.47 1/2. Second support is last Wednesday’s low crossing at 14.04
1/2.

March soybean meal closed down $10.40 at $426.90.

March soybean meal posted a key reversal down on Friday as it consolidated
some of this week’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 diverging but remain neutral to bullish signaling that sideways to
higher prices are possible near-term. If March extends this week’s rally,
December’s high crossing at 457.90 is the next upside target. Closes below the
10-day moving average crossing at 419.30 would temper the near-term friendly
outlook. First resistance is today’s high crossing at 445.00. Second resistance
is December’s high crossing at 457.90. First support is the 10-day moving
average crossing at 419.30. Second support is last Thursday’s low crossing at
402.70.

March soybean oil closed down 96-pts. at 50.35.

March soybean closed sharply lower on Friday renewing this month’s decline.
The low-range close sets the stage for a steady to lower opening when Monday’s
night session begins trading. Stochastics and the RSI are turning bearish again
signaling that sideways to lower prices are possible near-term. If March
extends today’s decline, January’s low crossing at 49.12 is the next downside
target. Closes above the 20-day moving average crossing at 51.97 would temper
the near-term bearish outlook. First resistance is Wednesday’s high crossing at
52.79. Second resistance is this month’s high crossing at 53.57. First support
is today’s low crossing at 50.30. Second support is January’s low crossing at
49.12.

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

April hogs closed down $0.72 at $81.65.

April hogs closed lower on Friday extending 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 oversold but remain
neutral to bearish signaling that sideways to lower prices are possible
near-term. If April extends this month’s decline, the 87% retracement level of
the May-November rally crossing at 81.14 is the next downside target. Closes
above the 20-day moving average crossing at 86.33 are needed to confirm that a
short-term low has been posted. First resistance is the 10-day moving average
crossing at 84.29. Second resistance is the 20-day moving average crossing at
86.33. First support is today’s low crossing at 81.60. Second resistance is the
87% retracement level of the May-November rally crossing at 81.14.

April cattle closed up $0.40 at 128.22.

April cattle closed higher due to short covering on Friday. 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 April extends this year’s decline, last
April’s low crossing at 125.90 is the next downside target. Closes above the
20-day moving average crossing at 130.82 are needed to confirm that a
short-term low has been posted. First resistance is the 20-day moving average
crossing at 130.82. Second resistance is the reaction high crossing at 133.65.
First support is Wednesday’s low crossing at 127.50. Second support is last
April’s low crossing at 125.90.

March feeder cattle closed up $0.55 at $141.25.

March Feeder cattle closed higher due to short covering on Friday. 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 March renews this year’s decline,
weekly support crossing at 138.48 is the next downside target. Closes above the
20-day moving average crossing at 145.64 are needed to confirm that a
short-term low has been posted. First resistance is the 10-day moving average
crossing at 142.63. Second resistance is the 20-day moving average crossing at
145.64. First support is last Thursday’s low crossing at 139.50. Second support
is weekly support crossing at 138.48.

_____________________________________________________________________

T H A N K   Y O U
_____________________________________________________________________

Copyright 2012 INO.com. All Rights Reserved.

Key Market Reports and Commentary for Friday 25/01/2013

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, January 25, 2013
8:30 AM ET. U.S. Weekly Export Sales

Corn, In Metric Tons (previous 393.3K)

Soybeans, In Metric Tons (previous 1.79M)

Wheat, In Metric Tons (previous 574.7K)

10:00 AM ET. Dec Mass Layoffs

10:00 AM ET. Dec New Residential Sales

Overall Sales (expected 385K; previous 377K)

Percent Change (expected +2.1%; previous +4.4%)

Months’ Supply (previous 4.7)

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

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

The March NASDAQ 100 closed lower due to profit taking on Thursday 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 Friday’s night session begins trading.
Stochastics and the RSI are overbought but are turning neutral to bearish
hinting that a short-term top might be in or is near. Closes below the 20-day
moving average crossing at 2708.90 would confirm that a short-term top has been
posted. If March extends the rally off December’s low, the 87% retracement
level of the September-November decline crossing at 2804.15 is the next upside
target. First resistance is Wednesday’s high crossing at 2764.00. Second
resistance is the 87% retracement level of the September-November decline
crossing at 2804.15. First support is the 20-day moving average crossing at
2708.90. Second support is the January 2nd gap crossing at 2665.00.

The March S&P 500 closed slightly higher on Thursday as it extends this
year’s rally. The mid-range close sets the stage for a steady opening when
Friday’s night session begins trading. Stochastics and the RSI are overbought
but remain neutral to bullish signaling that sideways to higher prices are
possible near-term. If March extends the rally off November’s low, weekly
resistance crossing at 1526.50 is the next upside target. Closes below the
20-day moving average crossing at 1455.71 would confirm that a short-term top
has been posted. First resistance is Thursday’s high crossing at 1497.50.
Second resistance is weekly resistance crossing at 1526.50. First support is
the 10-day moving average crossing at 1475.37. Second support is the 20-day
moving average crossing at 1455.71.

The Dow close higher on Thursday as it extends the rally off November’s low.
The mid-range close sets the stage for a steady to higher opening on Friday.
Stochastics and the RSI are overbought but remain neutral to bullish signaling
that sideways to higher prices are possible near-term. If the Dow extends the
rally off November’s low, weekly resistance crossing at 14,021 is the next
upside target. Closes below the 20-day moving average crossing at 13,433 are
needed to confirm that a short-term top has been posted. First resistance is
today’s high crossing at 13,879. Second resistance is monthly resistance
crossing at 14,021. First support is the 10-day moving average crossing at
13,608. Second support is the 20-day moving average crossing at 13,433.

______________________________

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

March T-bonds closed down 9/32’s at 145-22.

March T-bonds closed lower on Thursday. The mid-range close sets the stage
for a steady opening on Friday. Stochastics and the RSI remain bullish
signaling that sideways to higher prices are possible near-term. Multiple
closes above the reaction high crossing at 146-17 are needed to confirm that a
short-term low has been posted. If March renews the decline off November’s
high, September’s low crossing at 143-08 is the next downside target. First
resistance is the reaction high crossing at 146-17. Second resistance is the
January 2nd gap crossing at 146-23. First support is the reaction low crossing
at 144-28. Second support is reaction low crossing at 144-11.

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

March crude oil posted an inside day with a higher close on Thursday. The
mid-range close sets the stage for a steady to higher opening when Friday’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
March extends this month’s rally, the 75% retracement level of the
September-November decline crossing at 97.80 is the next upside target. Closes
below the 20-day moving average crossing at 93.93 would confirm that a
short-term top has been posted. First resistance is Wednesday’s high crossing
at 96.98 Second resistance is the 75% retracement level of the
September-November crossing at 97.80. First support is the 10-day moving
average crossing at 95.11. Second support is the 20-day moving average crossing
at 93.93.

March heating oil closed higher on Thursday as it extends the rally off last
week’s low. The high-range close sets the stage for a steady to higher opening
when Friday’s night session begins trading. Stochastics and the RSI are bullish
signaling that sideways to higher prices are possible near-term. If March
extends the rally off December’s low, October’s high crossing at 315.01 is the
next upside target. Closes below the 20-day moving average crossing at 302.85
would temper the near-term friendly outlook. First resistance is the reaction
high crossing at 309.37. Second resistance is October’s high crossing at
315.01. First support is the reaction low crossing at 297.95. Second support is
December’s low crossing at 290.13.

March unleaded gas closed higher on Thursday and above September’s high
crossing at 287 53 it extends the rally off December’s low. The high-range
close sets the stage for a steady to higher opening when Friday’s night session
begins trading. Stochastics and the RSI are overbought but remain neutral to
bullish signaling that sideways to higher prices are possible near-term. If
March extends this month’s rally, last March’s high crossing at 295.13 is the
next upside target. Closes below the 20-day moving average crossing at 278.93
would confirm that a short-term top has been posted. First resistance is
today’s high crossing at 288.82. Second resistance is today’s high crossing at
288.82. First support is the 20-day moving average crossing at 278.93. Second
support is last Wednesday’s low crossing at 271.17.

March Henry natural gas closed lower on Thursday 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 on Friday. 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 3.379 would confirm
that a short-term top has been posted. If March extends the aforementioned
rally, the 62% retracement level crossing at 3.669 is the next upside target.
First resistance is the 50% retracement level of the October-January decline
crossing at 3.551. Second resistance is the 62% retracement level crossing at
3.669. First support is the 20-day moving average crossing at 3.379. Second
support is the reaction low crossing at 3.331.

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

The March Dollar closed higher on Thursday. 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. If March extends the rally off last week’s low, the reaction high
crossing at 80.79 is the next upside target. If March renews this month’s
decline, December’s low crossing at 79.01 is the next downside target. First
resistance is the reaction crossing at 80.79. Second resistance is December’s
high crossing at 81.05. First support is last Monday’s low crossing at 79.40.
Second support is December’s low crossing at 79.01.

The March Euro closed higher on Thursday as it extends the trading range of
the past two weeks. The high-range close sets the stage for a steady to higher
opening on Friday. Stochastics and the RSI are overbought but remain neutral to
bullish signaling that sideways to higher prices are possible near-term. If
March renews this month’s rally, weekly resistance crossing at 134.88 is the
next upside target. Closes below the 20-day moving average crossing at 132.42
would confirm that a short-term top has been posted. First resistance is last
Monday’s high crossing at 134.13. Second resistance is weekly resistance
crossing at 134.88. First support is the 20-day moving average crossing at
132.42. Second support is this month’s low crossing at 130.46.

The March British Pound closed lower on Thursday as it extends this month’s
decline. The low-range close sets the stage for a steady to lower opening when
Friday’s night session begins trading. Stochastics and the RSI are oversold but
remain neutral to bearish signaling that sideways to lower prices are possible
near-term. If March renews this month’s decline, the 62% retracement level of
2012’s rally crossing at 1.5723 is the next downside target. Closes above the
20-day moving average crossing at 1.6045 are needed to confirm that a
short-term low has been posted. First resistance is the 10-day moving average
crossing at 1.5972. Second resistance the 20-day moving average crossing at
1.6045. First support is today’s low crossing at 1.5752. Second support is the
62% retracement level of 2012’s rally crossing at 1.5723.

The March Swiss Franc closed higher due to short covering on Thursday as it
extends the rally off Monday’s low. The high-range close sets the stage for a
steady to higher opening when Friday’s night session begins trading.
Stochastics and the RSI have turned bullish hinting that a low might be in or
is near. Closes above the 20-day moving average crossing at .10842 would
confirm that a short-term low has been posted. If March renews this month’s
decline, the 50% retracement level of the July-December rally crossing at
.10571 is the next downside target. First resistance is the 20-day moving
average crossing at .10842. Second resistance is the reaction high crossing at
.10986. First support is the reaction low crossing at .10657. Second support is
the 50% retracement level of the July-December rally crossing at .10571.

The March Canadian Dollar closed lower on Thursday as it extends this week’s
decline. The low-range close sets the stage for a steady to lower opening when
Friday’s night session begins trading. Stochastics and the RSI remain bearish
signaling that sideways to lower prices are possible near-term. If March
extends this month’s decline, November’s low crossing at 99.19 is the next
downside target. Closes above the 10-day moving average crossing at 100.93
would confirm that a short-term low has been posted. First resistance is the
20-day moving average crossing at 100.88. Second resistance is the 10-day
moving average crossing at 100.93. First support is today’s low crossing at
99.52. Second support is November’s low crossing at 99.19.

The March Japanese Yen closed sharply lower on Thursday renewing the decline
off September’s high. The low-range close sets the stage for a steady to lower
opening when Friday’s night session begins trading. Stochastics and the RSI are
diverging and are neutral to bullish hinting that a short-term low might be in
or is near. Closes above the 20-day moving average crossing at .11363 are
needed to confirm that a short-term top has been posted. If March extends the
decline off September’s high, monthly support crossing at .11050 is the next
downside target. First resistance is the 20-day moving average crossing at
.11363. Second resistance is the reaction high crossing at .11522. First
support is today’s low crossing at .11082. Second support is monthly support
crossing at .11050.

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

April gold closed sharply lower on Thursday and below the 20-day moving
average crossing at 1673.80 confirming that a short-term top has been posted.
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 today’s decline, this month’s low crossing at
1627.90 is the next downside target. Closes above the reaction high crossing at
1697.20 are needed to confirm that a trend change has taken place. First
resistance is the reaction high crossing at 1697.20. Second resistance is the
reaction high crossing at 1726.70. First support is the 62% retracement level
of the May-October rally crossing at 1639.30. Second support is the 75%
retracement level of the May-October rally crossing at 1604.60.

March silver closed lower due to profit taking on Thursday as it
consolidated some of the rally off this month’s low. The low-range close set
the stage for a steady to lower opening when Friday’s night session begins
trading. Stochastics and the RSI are overbought but remain neutral to bullish
signaling that sideways to higher prices are possible near-term. If March
extends this month’s rally, the reaction high crossing at 32.600 is the next
upside target. Closes below the 20-day moving average crossing at 30.925 would
confirm that a short-term top has been posted. First resistance is Wednesday’s
high crossing at 32.485. Second resistance is the reaction high crossing at
32.600. First support is the 20-day moving average crossing at 30.925. Second
support is the reaction low crossing at 29.240.

March copper closed lower on Thursday as it consolidated some of this week’s
rally but remains above the 10-day moving average crossing at 366.48. The
mid-range close sets the stage for a steady opening when Friday’s night session
begins trading. Stochastics and the RSI remain bullish signaling that sideways
to higher prices are possible near-term. If March extends this week’s rally,
this month’s high crossing at 375.90 is the next upside target. If March renews
the decline off this month’s high, the reaction low crossing at 358.15 is the
next downside target. First resistance is the reaction high crossing at 371.80.
Second resistance is this month’s high crossing at 375.90. First support is
last Wednesday’s low crossing at 359.95. Second support is the reaction low
crossing at 358.15.

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

March coffee close lower on Thursday and below the 20-day moving average
crossing at 14.97 confirming that a short-term top has been posted. The
low-range close set the stage for a steady to lower opening on Friday.
Stochastics and the RSI are bearish signaling that sideways to lower prices are
possible near-term. If March extends this week’s decline, the reaction low
crossing at 14.12 is the next downside target. Closes above the 10-day moving
average crossing at 15.19 would temper the bearish outlook.

March cocoa closed lower on Thursday as it extends this week’s decline. The
mid-range close sets the stage for a steady to lower opening on Friday.
Stochastics and the RSI are bearish signaling that sideways to lower prices are
possible near-term. If March extends the decline off September’s high, the 87%
retracement level of the June-September rally crossing at 21.45 is the next
downside target. Closes above the 10-day moving average crossing at 22.52 would
confirm that a low has been posted.

March sugar closed higher due to short covering on Thursday as it
consolidates some of this month’s decline. The high-range close set the stage
for a steady to higher opening on Friday. 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 18.86 would confirm that a short-term low
has been posted. If March extends this year’s decline, the 75% retracement
level of the 2010-2011 rally crossing at 17.38 is the next downside target.

March cotton closed higher on Thursday extending the rally off November’s
low. The high-range close sets the stage for a steady to higher opening on
Friday. Stochastics and the RSI are overbought but remain neutral to bullish
signaling that sideways to higher prices are possible near-term. If March
extends the aforementioned rally, the 62% retracement level of the 2012-decline
crossing at 86.50 is the next upside target. Closes below the 20-day moving
average crossing at 76.69 would confirm that a short-term top has been posted.
——————————

—————————————

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

http://broadcast.ino.com/redirect/?linkid=1952

———————————————————————

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

March Corn closed up 3 1/2-cents at 7.24 1/4.

March corn closed higher on Thursday as it consolidates some of Wednesday’s
decline. The high-range close sets the stage for a steady to higher opening
when Friday’s night session begins trading. Stochastics and the RSI are
overbought but remain neutral to bullish signaling that sideways to higher
prices are possible near-term. Closes above the reaction high crossing at 7.35
would confirm a trend change while opening the door for a possible test of the
38% retracement level of the August-January decline crossing at 7.41 3/4.
Closes below the 20-day moving average crossing at 7.06 1/4 would confirm that
a short-term top has been posted. First resistance is the reaction high
crossing at 7.35. Second resistance is the 38% retracement level of the
August-January decline crossing at 7.41 3/4. First support is the 20-day moving
average crossing at 7.06 1/4. Second support is the reaction low crossing at
6.86 1/4.

March wheat closed down 6 1/4-cents at 7.68 1/2.

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

March Kansas City Wheat closed down 8 3/4-cents at 8.21 1/2.

March Kansas City wheat closed lower on Thursday and below the 20-day moving
average crossing at 8.21 confirming that a short-term top has been posted. The
mid-range close sets the stage for a steady to lower opening on Friday.
Stochastics and the RSI have turned bearish signaling that sideways to lower
prices are possible near-term. If March extends this week’s decline, the gap
crossing at 8.16 is the next downside target. Closes above Wednesday’s high
crossing at 8.38 1/2 would confirm that a short-term low has been posted. First
resistance is the reaction high crossing at 8.47. Second resistance is the 38%
retracement level of the November-January decline crossing at 8.53. First
support is today’s low crossing at 8.29 1/2. Second support is this month’s low
crossing at 7.89 3/4.

March Minneapolis wheat closed down 5-cents at 8.55 1/2.

March Minneapolis wheat closed lower on Thursday and below the 20-day moving
average crossing at 8.56 1/4 confirming that a short-term low has been posted.
The low-range close sets the stage for a steady to lower opening when Friday’s
night session begins to trade. Stochastics and the RSI are bearish signaling
that sideways to lower prices are possible near-term. If March extends this
week’s decline, this month’s low crossing at 8.30 is the next downside target.
If March renews the rally off this month’s low, the reaction high crossing at
9.11 1/2 is the next upside target. First resistance is last Friday’s high
crossing at 8.82 1/4. Second resistance is the reaction high crossing at 9.11
1/2. First support is today’s low crossing at 8.52 1/4. Second support is this
month’s low crossing at 8.30.

SOYBEAN COMPLEX

March soybeans closed down 1 3/4-cents at 14.35 1/4.

March soybeans closed lower on Thursday as it consolidated some of the rally
off this month’s low. The high-range close sets the stage for a steady to
higher opening when Friday’s night session begins trading. Stochastics and the
RSI are overbought but remain neutral to bullish signaling that sideways to
higher prices are possible near-term. If March extends this month’s rally,
December’s high crossing at 15.01 1/4 is the next upside target. Closes below
the 20-day moving average crossing at 14.08 1/2 would signal that a short-term
top has been posted. First resistance is Tuesday’s high crossing at 14.60 3/4.
Second resistance is December’s high crossing at 15.01 1/4. First support is
the 20-day moving average crossing at 14.08 1/2. Second support is this month’s
low crossing at 13.51 1/2.

March soybean meal closed down $1.80 at $414.70.

March soybean meal closed lower on Thursday extending the trading range of
the past seven days. The high-range close sets the stage for a steady to higher
opening when Friday’s night session begins trading. Stochastics and the RSI
remain bullish signaling that sideways to higher prices are possible. If March
extends the rally off this month’s low, the reaction high crossing at 435.80 is
the next upside target. Closes below the 10-day moving average crossing at
413.90 would temper the near-term friendly outlook. If March renews the decline
off September’s high, the 62% retracement level of the 2012 rally crossing at
379.10 is the next downside target. First resistance is the reaction high
crossing at 435.80. Second resistance is December’s high crossing at 457.90.
First support is the 10-day moving average crossing at 413.90. Second support
is this month’s low crossing at 392.40.

March soybean oil closed up 8-pts. at 52.11.

March soybean closed higher on Thursday. The high-range close sets the stage
for a steady to higher opening when Friday’s night session begins trading.
Stochastics and the RSI are overbought but remain neutral to bullish signaling
that sideways to higher prices are possible near-term. If March extends the
rally off December’s low, 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 50.43 would confirm that a short-term top has been
posted. First resistance is Tuesday’s high crossing at 52.67. Second resistance
is the 50% retracement level of the September-November decline crossing at
53.13. First support is the 10-day moving average crossing at 51.13. Second
support is the 20-day moving average crossing at 50.43.

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

April hogs closed up $1.67 at $89.67.

April hogs gapped above the 20-day moving average crossing at 88.82 on
Thursday confirming that a short-term low has been posted. The high-range close
sets the stage for a steady to higher opening when Friday’s night session
begins trading. Stochastics and the RSI are bullish signaling that sideways to
higher prices are possible near-term. If April extends today’s rally, the
reaction high crossing at 90.90 is the next upside target. Closes below
Wednesday’s low crossing at 87.10 would confirm that a top has been posted.
First resistance is the reaction high crossing at 90.90. Second resistance is
the reaction high crossing at 91.82. First support is Wednesday’s low crossing
at 87.10. Second resistance is the reaction low crossing at 86.90.

April cattle closed down $0.10 at 130.35.

April cattle were lower on Wednesday. The low-range close sets the stage for
a steady to lower opening when Friday’s night session begins trading.
Stochastics and the RSI are oversold but remain neutral to bearish signaling
that sideways to lower prices are possible near-term. If April extends this
month’s decline, last June’s low crossing at 127.55 is the next downside
target. Closes above the 20-day moving average crossing at 134.49 would confirm
that a short-term low has been posted. First resistance is the 10-day moving
average crossing at 132.34. Second resistance is the 20-day moving average
crossing at 134.49. First support is last Friday’s low crossing at 129.45.
Second support is last June’s low crossing at 127.55.

March feeder cattle closed up $0.80 at $147.95.

March Feeder cattle gapped up and closed higher on Thursday as it extended
the short covering rally off last Friday’s low. The mid-range close sets the
stage for a steady to higher opening when Friday’s night session begins
trading. Stochastics and the RSI are turning bullish hinting that a low might
be in or is near. Closes above the 20-day moving average crossing at 151.81 are
needed to confirm that a short-term low has been posted. If March renews this
month’s decline, weekly support low crossing at 141.30 is the next downside
target. First resistance is the 10-day moving average crossing at 148.87.
Second resistance is the 20-day moving average crossing at 151.81. First
support is last Friday’s low crossing at 144.65. Second support is weekly
support crossing at 141.30.

_____________________________________________________________________

T H A N K   Y O U
_____________________________________________________________________

Copyright 2012 INO.com. All Rights Reserved.

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.
——————————

—————————————

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

http://broadcast.ino.com/redirect/?linkid=1952

———————————————————————

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
_____________________________________________________________________

Copyright 2012 INO.com. All Rights Reserved.

Tuesday NAS +35.19 Gold +0.30 CRB +1.97 USD -0.269 DOW +78.56 S&P +9.29

T U E S D A Y   E V E N I N G   E X T R E M E   M A R K E T S
INO.com, Trusted By Traders the World Over http://www.ino.com/

E X T R E M E   M A R K E T   C O M M E N T A R Y
______________________________

_______________________________________

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”

http://broadcast.ino.com/redirect/?linkid=1952

———————————————————————
____________________________________________________________________________

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.

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
INO.com, Trusted By Traders the World Over http://www.ino.com/

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”

http://broadcast.ino.com/redirect/?linkid=1952

———————————————————————
____________________________________________________________________________

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
_____________________________________________________________________

Copyright 2012 INO.com. All Rights Reserved.

Tuesday NAS -20.40 DOW -58.90 S&P -5.50 Gold +0.01 CRB +1.97 USD +0.028

T U E S D A Y   E V E N I N G   E X T R E M E   M A R K E T S
INO.com, Trusted By Traders the World Over http://www.ino.com/

 

E X T R E M E   M A R K E T   C O M M E N T A R Y
______________________________

_______________________________________

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

The December NASDAQ 100 closed lower on Tuesday as it extends the decline
off September’s high. The high-range close sets the stage for a steady to
higher opening when Wednesday’s night session begins trading. Stochastics and
the RSI are oversold, diverging and turning neutral hinting that a short-term
low might be in or is near. If December extends the decline off September’s
high, the 75% retracement level of the June-September rally crossing at 2549.93
is the next downside target. Closes above the 20-day moving average crossing at
2650.75 are needed to confirm that a short-term low has been posted. First
resistance is the 10-day moving average crossing at 2622.40. Second resistance
is the 20-day moving average crossing at 2650.75. First support is today’s low
crossing at 2553.00. Second support is the 75% retracement level of the
June-September rally crossing at 2549.93.

The December S&P 500 closed higher due to short covering on Tuesday but
remains below the 38% retracement level of the June-September rally crossing at
1385.79. The high-range close sets the stage for a steady to higher opening
when Wednesday’s night session begins trading. Stochastics and the RSI are
diverging but remain neutral to bearish signaling that sideways to lower prices
are possible near-term. If December extends the decline off September’s high,
the 50% retracement level of the June-September rally crossing at 1360.80 is
the next downside target. Closes above the 20-day moving average crossing at
1408.81 are needed to confirm that a short-term low has been posted. First
resistance is the 10-day moving average crossing at 1397.05. Second resistance
is the 20-day moving average crossing at 1408.81. First support is last
Friday’s low crossing at 1363.70. Second support is the 50% retracement level
of the June-September rally crossing at 1335.43.

The Dow closed higher due to short covering on Tuesday as it consolidates
some of the decline off October’s high but remains below the 50% retracement
level of the June-October rally crossing at 12,850. The mid-range close sets
the stage for a steady to higher opening on Wednesday. Stochastics and the RSI
are oversold but remain bearish signaling that additional weakness is possible
near-term. If the Dow extends the decline off October’s high, the 62%
retracement level of the June-October rally crossing at 12,658 is the next
downside target. Closes above the 20-day moving average crossing at 13,157 are
needed to confirm that a short-term low has been posted. First resistance is
the 10-day moving average crossing at 12,998. Second resistance is the 20-day
moving average crossing at 13,157. First support is the 62% retracement level
of the June-October rally crossing at 12,658. Second support is the 75%
retracement level of the June-October rally crossing at 12,443.

_____________________________________________________________________

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

December T-bonds closed up 12/32’s at 152-01.

December T-bonds closed higher on Tuesday as it extends the rally off
October’s low. The high-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
December extends the rally off October’s low, the reaction high crossing at
153-05 is the next upside target. Closes below the 20-day moving average
crossing at 148-25 would confirm that a short-term top has been posted. First
resistance is today’s high crossing at 152-15. Second resistance is the
reaction high crossing at 153-05. First support is the 10-day moving average
crossing at 150-02. Second support is the 20-day moving average crossing at
148-25.

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

December crude oil closed lower on Tuesday as it consolidates above the 75%
retracement level of the June-September rally crossing at 84.63. The mid-range
close sets the stage for a steady opening when Wednesday’s night session
begins. 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 89.22 are needed
to confirm that a short-term low has been posted. If December renews the
decline off September’s high, the 87% retracement level of the June-September
rally crossing at 81.89 is the next downside target. First resistance is the
20-day moving average crossing at 86.95. Second resistance is the reaction high
crossing at 89.22. First support is the 75% retracement level of the
June-September rally crossing at 84.64. Second support is the 87% retracement
level of the June-September rally crossing at 81.89.

December heating oil closed lower on Tuesday while extending the trading
range of the past seven days. 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 oversold and are turning bullish hinting that a low might be in or
is near. Closes above the 20-day moving average crossing at 304.13 are needed
to confirm that a short-term low has been posted. If December renews the
decline off September’s high, the 50% retracement level of the June-October
rally crossing at 290.32 is the next downside target. First resistance is the
20-day moving average crossing at 304.13. Second resistance is the reaction
high crossing at 312.07. First support is last Monday’s low crossing at 293.47.
Second support is the 50% retracement level of the June-October rally crossing
at 290.32.

December unleaded gas closed lower on Tuesday as it consolidated some of
last Friday’s rally. 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 bullish signaling that sideways to higher prices are possible near-term.
Closes above the reaction high crossing at 271.50 would open the door for a
possible test of October’s high crossing at 286.20. If December renews the
decline off September’s high, the 50% retracement level of the June-October
rally crossing at 253.49 is the next downside target. First resistance is
Monday’s high crossing at 274.68. Second resistance is October’s high crossing
at 286.20. First support is last Monday’s low crossing at 255.24. Second
support is the 50% retracement level of the June-October rally crossing at
253.49.

December Henry natural gas closed sharply higher on Tuesday and above the
20-day moving average crossing at 3.709 confirming that a short-term low has
been posted. The high-range close sets the stage for a steady to higher opening
on Wednesday. Stochastics and the RSI are turning bullish signaling that
sideways to higher prices are possible near-term. If December renews the
decline off this month’s high, the 62% retracement level of the August-October
rally crossing at 3.404 is the next downside target. First resistance is
today’s high crossing at 3.745. Second resistance is the reaction high crossing
at 3.851. First support is Monday’s low crossing at 3.470. Second support is
the 62% retracement level of the August-October rally crossing at 3.404.

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

The December Dollar closed higher on Tuesday as it extends the rally off
September low. The mid-range close sets the stage for a steady opening on
Wednesday. Stochastics and the RSI are overbought but are neutral to bullish
signaling that sideways to higher prices are possible near-term. If December
extends the rally off September’s low, the 50% retracement level of the
July-September decline crossing at 81.67 is the next upside target. Closes
below the 20-day moving average crossing at 80.30 would confirm that a
short-term top has been posted. First resistance is today’s high crossing at
81.32. Second resistance is the 50% retracement level of the July-September
decline crossing at 81.67. First support is the 20-day moving average crossing
at 80.30. Second support is the reaction low crossing at 79.72.

The December Euro closed lower on Tuesday as it extended the decline off
October’s high. The high-range close sets the stage for a steady to higher
opening on Wednesday. Stochastics and the RSI are oversold but remain neutral
to bearish signaling that sideways to lower prices are possible near-term. If
December extends the aforementioned decline, the 50% retracement level of the
July-September rally crossing at 126.27 is the next downside target. Closes
above the 20-day moving average crossing at 129.01 would confirm that a
short-term low has been posted. First resistance is the 20-day moving average
crossing at 129.01. Second resistance is the reaction high crossing at 130.27.
First support is today’s low crossing at 126.65. Second support is the 50%
retracement level of the July-September rally crossing at 126.27.

The December British Pound closed lower on Tuesday as it extends the decline
off September’s high. 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 oversold but remain bearish signaling that sideways to lower prices are
possible near-term. If December extends the decline off September’s high, the
50% retracement level of the June-September rally crossing at 1.5821 is the
next downside target. Closes above the 20-day moving average crossing at 1.6018
would confirm that a short-term low has been posted. First resistance is the
20-day moving average crossing at 1.6018. Second resistance is the reaction
high crossing at 1.6175. First support is today’s low crossing at 1.5856.
Second support is the 50% retracement level of the June-September rally
crossing at 1.5821.

The December Swiss Franc closed higher due to short covering on Tuesday. 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 December extends the decline off October’s high, the 50%
retracement level of the July-October rally crossing at .10474 is the next
downside target. Closes above the 20-day moving average crossing at .10683
would confirm that a short-term low has been posted. First resistance is the
20-day moving average crossing at .10683. Second resistance is the reaction
high crossing at .10787. First support is today’s low crossing at .10517.
Second support is the 50% retracement level of the July-October rally crossing
at .10474.

The December Canadian Dollar closed lower on Tuesday extending the decline
off September’s high. The mid-range close sets the stage for a steady to lower
opening when Wednesday’s night session begins trading. Stochastics and the RSI
are diverging but are bearish signaling that additional weakness is possible
near-term. If December extends the decline off September’s high, the 50%
retracement level of the June-September rally crossing at 99.51 is the next
downside target. Closes above the 20-day moving average crossing at 100.35
would confirm that a short-term low has been posted. First resistance is the
20-day moving average crossing at 100.35. Second resistance is the reaction
high crossing at 101.18. First support is today’s low crossing at 99.57. Second
support is the 50% retracement level of the June-September rally crossing at
99.51.

The December Japanese Yen closed higher on Tuesday as it extends this
month’s rally. The mid-range close sets the stage for a steady to higher
opening when Wednesday’s night session begins trading. Stochastics and the RSI
remain neutral to bullish signaling that sideways to higher prices are possible
near-term. If December extends this month’s rally, the reaction high crossing
at .12836 are the next upside target. Closes below the 10-day moving average
crossing at .12526 would temper the near-term friendly outlook. First
resistance is last Friday’s high crossing at .12650. Second resistance is the
reaction high crossing at .12836. First support is the 10-day moving average
crossing at .12526. Second support is the reaction low crossing at .12399.

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

December gold closed lower due to profit taking on Tuesday. The mid-range
close sets the stage for a steady opening when Wednesday’s night session begins
trading. Stochastics and the RSI are neutral to bullish signaling that sideways
to higher prices are possible near-term. If December renews this month’s rally,
the reaction high crossing at 1755.00 is the next upside target. Closes below
the 10-day moving average crossing at 1713.40 would temper the near-term
friendly outlook. First resistance is last Friday’s high crossing at 1739.40.
Second resistance is the reaction high crossing at 1755.00. First support is
the 10-day moving average crossing at 1713.40. Second support is this month’s
low crossing at 1672.50.

December silver closed lower due to profit taking on Tuesday but remains
above the 20-day moving average. The mid-range close set the stage for a steady
opening when Wednesday’s night session begins trading. Stochastics and the RSI
are bullish signaling that sideways to higher prices are possible near-term. If
December extends this month’s rally, the reaction high crossing at 33.325 is
the next upside target. If December renews the decline off October’s high, the
62% retracement level of the June-October rally crossing at 29.752 is the next
downside target. First resistance is the reaction high crossing at 33.325.
Second resistance is the reaction high crossing at 34.380. First support is the
50% retracement level of the June-October rally crossing at 30.850. Second
support is the 62% retracement level of the June-October rally crossing at
29.752.

December copper closed higher due to short covering on Tuesday as it
consolidated some of the decline off September’s high. The high-range close
sets the stage for a steady to higher opening when Wednesday’s night session
begins trading. Stochastics and the RSI are turning bullish hinting that a low
might be in or is near. Closes above the 20-day moving average crossing at
354.05 are needed to confirm that a short-term low has been posted. If December
renews the decline off September’s high, the 87% retracement level of the
June-September rally crossing at 333.36 is the next downside target. First
resistance is the 20-day moving average crossing at 354.05. Second resistance
is the reaction high crossing at 356.90. First support is the 75% retracement
level of the June-September rally crossing at 340.65. Second support is the 87%
retracement level of the June-September rally crossing at 333.36.

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

December coffee close lower on Tuesday extending the decline off October’s
high. The low-range close sets the stage for a steady to lower opening on
Wednesday. Stochastics and the RSI are oversold but remain neutral to bearish
signaling that additional weakness is possible near-term. If December extends
the decline off October’s high, June’s 2010-low crossing at 13.79 is the next
downside target. Closes above the 20-day moving average crossing at 15.60 are
needed to confirm that a short-term low has been posted.

December cocoa closed higher due to short covering on Tuesday as it
consolidated some of the decline off September’s high. The high-range close
sets the stage for a steady to higher opening on Wednesday. Stochastics and the
RSI are neutral to bearish signaling that sideways to lower prices are possible
near-term. If December extends the decline off October’s high, the 50%
retracement level of the June-September rally crossing at 23.01 is the next
downside target. Closes above the 20-day moving average crossing at 24.15 would
temper the near-term bearish outlook.

March sugar closed lower on Tuesday and the low-range close set the stage
for a steady to lower opening on Wednesday. Stochastics and the RSI are bullish
hinting that a low might be in or is near. Closes above the 20-day moving
average crossing at 19.50 are needed to confirm that a low has been posted. If
March extends the decline off October’s high, the 75% retracement level of the
2010-2011 rally crossing at 17.38 is the next downside target.

December cotton closed lower on Tuesday as it consolidated some of Monday’s
rally. The mid-range close sets the stage for a steady opening on Wednesday.
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
72.32 would temper the near-term bearish outlook. If December extends the
aforementioned decline, the reaction low crossing at 67.16 is the next downside
target.

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

December Corn closed up 5 1/2-cents at 7.23 1/2.

December corn closed higher due to short covering on Tuesday as it
consolidated some of Monday’s decline. The high-range close sets the stage for
a steady to higher opening when Wednesday’s night session begins trading.
Stochastics and the RSI are diverging and turning neutral hinting that a low
might be near. Closes above last Friday’s high crossing at 7.55 would confirm
that a short-term low has been posted. If December extends Monday’s decline,
the late-September low crossing at 7.05 is the next downside target. First
resistance is last Friday’s high crossing at 7.55. Second resistance is
October’s high crossing at 7.76. First support is today’s low crossing at 7.10
1/2. Second support is the late-September low crossing at 7.05.

December wheat closed down 6 3/4-cents at 8.51.

December wheat closed lower on Tuesday as it extends the decline off last
Friday’s high. The low-range close sets the stage for a steady to lower opening
when Wednesday’s night session begins trading. Stochastics and the RSI have
turned bearish signaling that sideways to lower prices are possible near-term.
If December extends this week’s decline, October’s low crossing at 8.40 1/4. If
December renews the rally off October’s low, September’s high crossing at 9.31
is the next upside target. From a broad perspective, December wheat needs to
close above 9.53 1/4 or below 8.40 1/4 to confirm a breakout of this summer’s
trading range and point the direction of the next trending move. First
resistance is the reaction high crossing at 9.07. Second resistance is
September’s high crossing at 9.31. First support is October’s low crossing at
8.40 1/4. Second support is the 38% retracement level of this summer’s rally
crossing at 8.29 3/4.

December Kansas City Wheat closed down 2 3/4-cents at 8.87 3/4.

December Kansas City wheat closed lower on Tuesday as it extends the decline
off last week’s high. The high-range close sets the stage for a steady to
higher opening on Wednesday. Stochastics and the RSI have turned bearish
signaling that sideways to lower prices are possible near-term. If December
extends this week’s decline, September’s low crossing at 8.75 1/2 is the next
downside target. Closes above the 10-day moving average crossing at 9.11 3/4
would temper the near-term bearish outlook. First resistance is the 10-day
moving average crossing at 9.11 3/4. Second resistance is last Thursday’s high
crossing at 9.40. First support is today’s low crossing at 8.83. Second support
is September’s low crossing at 8.75 1/2.

December Minneapolis wheat closed down 2 1/4-cents at 9.22 1/4.

December Minneapolis wheat closed lower on Tuesday and 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 have turned bearish signaling that
sideways to lower prices are possible near-term. If December extends this
week’s decline, September’s low crossing at 9.12 is the next downside target.
Multiple closes above the 10-day moving average crossing at 9.42 3/4 would
signal that a short-term low has been posted. First resistance is the 10-day
moving average crossing at 9.42 3/4. Second resistance is the reaction high
crossing at 9.63 1/2. First support is today’s low crossing at 9.17 1/2. Second
support is September’s low crossing at 9.12.

SOYBEAN COMPLEX

January soybeans closed up 3-cents at 14.08.

January soybeans closed higher due to short covering on Tuesday. 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 this month’s decline, 75% retracement level of
the June-September rally crossing at 13.82 3/4 is the next downside target.
Closes above the 20-day moving average crossing at 15.19 1/4 would confirm that
a short-term low has been posted. First resistance is the 20-day moving average
crossing at 15.19 1/4. Second resistance is the reaction high crossing at
15.76. First support is today’s low crossing at 13.91 1/4. Second support is
the 75% retracement level of the June-September rally crossing at 13.82 3/4.

December soybean meal closed up $1.70 at $433.10.

December soybean meal closed higher due to short covering on Tuesday as it
consolidates some of the decline off September’s high. The high-range close
sets the stage for a steady to higher opening when Wednesday’s night session
begins trading. Stochastics and the RSI are bearish signaling that sideways to
lower prices are possible near-term. If December extends this week’s decline,
is the 62% retracement level of the June-September rally crossing at 424.00 is
the next downside target. Closes above the 20-day moving average crossing at
467.70 would temper the near-term bearish outlook. First resistance is the
20-day moving average crossing at 467.70. Second resistance is the reaction
high crossing at 490.00. First support is today’s low crossing at 427.00.
Second support is the 62% retracement level of the June-September rally
crossing at 424.00.

December soybean oil closed down 37-pts. at 47.02.

December soybean closed lower on Tuesday and below the 50% retracement level
of the 2009-2011-rally crossing at 47.07. 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 oversold but remain neutral to bearish signaling
that sideways to lower prices are possible near-term. If December extends this
week’s decline, the 62% retracement level of the 2009-2011-rally crossing at
43.97 is the next downside target. Closes above the 20-day moving average
crossing at 49.94 would signal that a short-term low has been posted. First
resistance is the 10-day moving average crossing at 48.64. Second resistance is
the 20-day moving average crossing at 49.94. First support is Monday’s low
crossing at 46.52. Second support is the 62% retracement level of the
2009-2011-rally crossing at 43.97.

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

December hogs closed up $0.18 at $80.50.

December hogs closed higher on Tuesday extending the rally off September’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 December extends the rally off September’s
low, July’s highs crossing at 82.25 is the next upside target. Closes below
last Tuesday’s low crossing at 76.65 would confirm that a short-term top has
been posted. First resistance is today’s high crossing at 81.35. Second
resistance is July’s high crossing at 82.25. First support is the 20-day moving
average crossing at 78.79. Second support is last Tuesday’s low crossing at
76.65.

December cattle closed up $0.45 at 125.80.

December cattle closed higher on Tuesday and 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 bullish hinting that a low might
be in or is near. Closes above the 20-day moving average crossing at 126.07
would temper the near-term bearish outlook. If December renews the decline off
October’s high, September’s low crossing at 123.95 is the next downside target.
First resistance is the 20-day moving average crossing at 126.07. Second
resistance is the reaction high crossing at 127.40. First support is last
Wednesday’s low crossing at 124.55. Second support is September’s low crossing
at 123.95.

January feeder cattle closed up $0.20 at $146.15.

January Feeder cattle closed higher on Tuesday. 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 October’s high, the reaction low crossing at 144.45 is
the next downside target. Closes above the 20-day moving average crossing at
147.75 would temper the near-term bearish outlook. First resistance is the
20-day moving average crossing at 147.75. Second resistance is the reaction
high crossing at 149.50. First support is last Wednesday’s low crossing at
144.90. Second support is the reaction low crossing at 144.45.

______________________________

______________________________________________

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.H14 SOYBEANS CRUSH INDEX Mar 2014               62.75      4.00  +6.81
NG.Z12  NATURAL GAS Dec 2012                        3.739     0.169  +4.73
NN.Z12  HENRY HUB NATURAL GAS SWAP Dec 2012         3.739     0.169  +4.73
S.X12   SOYBEANS Nov 2012                            1427        16  +1.13
YC.Z12  CORN (MINI) Dec 2012                        723.5       5.5  +0.77
LH.G13  LEAN HOGS Feb 2013                         86.850     0.575  +0.67
C.Z12   CORN Dec 2012                               722.5       4.5  +0.63
FC.K13  FEEDER CATTLE May 2013                    151.975     0.675  +0.45
SM.F13  SOYBEAN MEAL Jan 2013                       428.5       1.8  +0.42
LC.M13  LIVE CATTLE Jun 2013                      129.775     0.525  +0.41

LOSERS

BCX.F13 SOYBEANS CRUSH INDEX Jan 2013               55.75     -3.25  -5.51
LB.N13  LUMBER (RANDOM LENGTH) Jul 2013             334.1      -4.7  -1.38
RR.N13  ROUGH RICE Jul 2013                        15.560    -0.145  -0.92
W.Z12   WHEAT Dec 2012                             850.00     -7.75  -0.90
BO.F13  SOYBEAN OIL Jan 2013                        47.37     -0.39  -0.82
ND.Z12  NASDAQ 100 INDEX Dec 2012                  2560.5     -20.5  -0.79
VB      RUSSELL 2000 VALUE INDEX                  1043.36     -7.83  -0.75
CSI.F13 SOYBEAN-CORN PRICE RATIO Jan 2013           1.908    -0.014  -0.73
LH.V13  LEAN HOGS Oct 2013                         87.975    -0.625  -0.70
SP.Z14  S&P 500 INDEX Dec 2014                     1318.1      -7.4  -0.56

———————————————————————

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

http://broadcast.ino.com/redirect/?linkid=1952

———————————————————————
____________________________________________________________________________

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

PBCP    POLONIA BANCORP                              7.90      -1.1  +87.78
GBX     GREENBRIER COMPANIES                      16.7404    2.7904  +20.00
ARII    AMERICAN RAILCAR                            31.20      4.72  +17.82
DMND    DIAMOND FOODS                             20.3625    2.5125  +14.08
FRGI    FIESTA RESTAURANT GROUP                     15.34      1.82  +13.46
IMMR    IMMERSION                                    5.76      0.66  +12.94
CLNE    CLEAN ENERGY FUELS                          12.25      1.19  +10.76
TKMR    TEKMIRA PHARMACEUTICALS                      5.67      0.55  +10.74
TKM     TEKMIRA PHARMACEUTICALS CORP                 5.61      0.50  +9.78
HK      HALCON RESOURCES                           5.8698 0.4898  +9.10

LOSERS

HCLP    HI-CRUSH PARTNERS                           15.65     -4.70  -23.10
TROX    TRONOX                                     15.160    -3.560  -19.02
MBI     MBIA                                         6.83     -1.58  -18.79
WFT     WEATHERFORD INTL                             9.15     -1.73  -15.90
IBIBF   IBI GROUP INC                              6.4676 -1.0624  -14.11
ACM     AECOM TECH                                  18.86     -2.90  -13.33
CDHPF   HNZ GROUP INC                             22.3765   -3.3835  -13.13
SVT     SERVOTRONICS                                 7.19     -1.07  -12.95
PACTV   PACTERA TECH INTL                           8.130    -1.140  -12.30
IBG     IBI GROUP INC                                6.40     -0.85  -11.72
_____________________________________________________________________

T H A N K   Y O U
_____________________________________________________________________

Key Market Reports and Commentary for Monday

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, November 12, 2012
N/A             Inter-American Development Bank – Meeting of the Network of
Central Banks and Finance Ministries

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 December NASDAQ 100 closed higher due to short covering on Friday as it
consolidates some of the decline off September’s high. 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 additional weakness is
possible near-term. If December extends the decline off September’s high, the
75% retracement level of the June-September rally crossing at 2549.93 is the
next downside target. Closes above the 20-day moving average crossing at
2667.86 are needed to confirm that a short-term low has been posted. First
resistance is the 10-day moving average crossing at 2638.85. Second resistance
is the 20-day moving average crossing at 2667.86. First support is today’s low
crossing at 2556.25. Second support is the 75% retracement level of the
June-September rally crossing at 2549.93.

The December S&P 500 closed higher due to short covering on Friday but
remains below the 38% retracement level of the June-September rally crossing at
1385.79. The mid-range close sets the stage for a steady 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
December extends the decline off September’s high, the 50% retracement level of
the June-September rally crossing at 1360.80 is the next downside target.
Closes above Wednesday’s high crossing at 1431.40 are needed to confirm that a
short-term low has been posted. First resistance is the 10-day moving average
crossing at 1403.03. Second resistance is Wednesday’s high crossing at 1431.40.
First support is today’s low crossing at 1363.70. Second support is the 50%
retracement level of the June-September rally crossing at 1335.43.

The Dow closed higher due to short covering on Friday as it consolidates
some of this week’s decline but remains below the 50% retracement level of the
June-October rally crossing at 12,850. The mid-range close sets the stage for a
steady opening on Monday. Stochastics and the RSI are diverging but are bearish
signaling that additional weakness is possible near-term. If the Dow extends
the decline off October’s high, the 62% retracement level of the June-October
rally crossing at 12,658 is the next downside target. Closes above the 20-day
moving average crossing at 13,208 are needed to confirm that a short-term low
has been posted. First resistance is the 10-day moving average crossing at
13,054. Second resistance is the 20-day moving average crossing at 13,207 First
support is the 62% retracement level of the June-October rally crossing at
12,658. Second support is the 75% retracement level of the June-October rally
crossing at 12,443.

______________________________

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

December T-bonds closed up 15/32’s at 151-21.

December T-bonds closed higher on Friday as it extends the rally off
October’s low. The mid-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 December extends the rally
off October’s low, the reaction high crossing at 153-05 is the next upside
target. Closes below the 20-day moving average crossing at 148-15 would confirm
that a short-term top has been posted. First resistance is today’s high
crossing at 152-08. Second resistance is the reaction high crossing at 153-05.
First support is the 20-day moving average crossing at 148-15. Second support
is October’s low crossing at 146-02.

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

December crude oil closed higher due to short covering on Friday as it
consolidated some of Wednesday’s decline. The high-range close sets the stage
for a steady to higher opening when Monday’s night session begins. Stochastics
and the RSI are oversold, diverging and are turning neutral to bullish hinting
that a low might be in or is near. Closes above the 20-day moving average
crossing at 87.65 are needed to confirm that a short-term low has been posted.
If December renews the decline off September’s high, the 87% retracement level
of the June-September rally crossing at 81.89 is the next downside target.
First resistance is the 20-day moving average crossing at 87.65. Second
resistance is the reaction high crossing at 89.22. First support is the 75%
retracement level of the June-September rally crossing at 84.64. Second support
is the 87% retracement level of the June-September rally crossing at 81.89.

December heating oil closed higher due to short covering 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 oversold and are
turning neutral to bullish hinting that a low might be in or is near. Closes
above the 20-day moving average crossing at 306.22 are needed to confirm that a
short-term low has been posted. If December renews the decline off September’s
high, the 50% retracement level of the June-October rally crossing at 290.32 is
the next downside target. First resistance is the 20-day moving average
crossing at 306.22. Second resistance is the reaction high crossing at 312.07.
First support is Monday’s low crossing at 293.47. Second support is the 50%
retracement level of the June-October rally crossing at 290.32.

December unleaded gas closed higher on Friday and is poised to renew the
rally off last week’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 bullish signaling that sideways to higher prices are possible
near-term. Closes above Tuesday’s high crossing at 271.50 would open the door
for a possible test of October’s high crossing at 286.20. If December renews
the decline off September’s high, the 50% retracement level of the June-October
rally crossing at 253.49 is the next downside target. First resistance is
Tuesday’s high crossing at 271.50. Second resistance is October’s high crossing
at 286.20. First support is Monday’s low crossing at 255.24. Second support is
the 50% retracement level of the June-October rally crossing at 253.49.

December Henry natural gas closed lower on Friday and below the 50%
retracement level of the August-October rally crossing at 3.512 as it extends
the decline off October’s high. The low-range close sets the stage for a steady
to lower opening on Monday. Stochastics and the RSI are oversold but are
neutral to bearish signaling that sideways to lower prices are possible
near-term. If December extends the decline off this month’s high, the 62%
retracement level of the August-October rally crossing at 3.404 is the next
downside target. Closes above the 20-day moving average crossing at 3.720 would
confirm that a short-term low has been posted. First resistance is the 10-day
moving average crossing at 3.629. Second resistance is the 20-day moving
average crossing at 3.720. First support is today’s low crossing at 3.482.
Second support is the 62% retracement level of the August-October rally
crossing at 3.404.

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

The December Dollar closed higher on Friday and above the 38% retracement
level of the July-September decline crossing at 80.97 as it extends the rally
off October’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
December extends the rally off September’s low, the 50% retracement level of
the July-September decline crossing at 81.67 is the next upside target. Closes
below the 20-day moving average crossing at 80.15 would confirm that a
short-term top has been posted. First resistance is today’s high crossing at
81.17. Second resistance is the 50% retracement level of the July-September
decline crossing at 81.67. First support is the 20-day moving average crossing
at 80.15. Second support is October’s low crossing at 78.97.

The December Euro closed lower on Friday as it extended the decline off
October’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
December extends the aforementioned decline, the 50% retracement level of the
July-September rally crossing at 126.27 is the next downside target. Closes
above the 20-day moving average crossing at 129.30 would confirm that a
short-term low has been posted. First resistance is the 20-day moving average
crossing at 129.30. Second resistance is last Wednesday’s high crossing at
130.27. First support is today’s low crossing at 126.93. Second support is the
50% retracement level of the July-September rally crossing at 126.27.

The December British Pound 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 bearish signaling that sideways to lower
prices are possible near-term. If December extends the decline off September’s
high, the 50% retracement level of the June-September rally crossing at 1.5821
is the next downside target. Closes above the 20-day moving average crossing at
1.6039 would confirm that a short-term low has been posted. First resistance is
the 20-day moving average crossing at 1.6039. Second resistance is the reaction
high crossing at 1.6175. First support is today’s low crossing at 1.5885.
Second support is the 50% retracement level of the June-September rally
crossing at 1.5821.

The December Swiss Franc 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 oversold but remain bearish signaling that
sideways to lower prices are possible near-term. If December extends the
decline off October’s high, the 50% retracement level of the July-October rally
crossing at .10474 is the next downside target. Closes above the 20-day moving
average crossing at .10704 would confirm that a short-term low has been posted.
First resistance is the 20-day moving average crossing at .10704. Second
resistance is last Wednesday’s high crossing at .10787. First support is
today’s low crossing at .10530. Second support is the 50% retracement level of
the July-October rally crossing at .10474.

The December Canadian Dollar closed lower on Friday renewing the decline off
September’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
diverging and turning neutral to bearish signaling that additional weakness is
possible near-term. If December renews the decline off September’s high, the
50% retracement level of the June-September rally crossing at 99.51 is the next
downside target. Closes above the 20-day moving average crossing at 100.52
would confirm that a short-term low has been posted. First resistance is the
20-day moving average crossing at 100.52. Second resistance is the reaction
high crossing at 102.56. First support is today’s low crossing at 99.59. Second
support is the 50% retracement level of the June-September rally crossing at
99.51.

The December Japanese Yen closed lower due to light profit taking on Friday
as it consolidated some of this week’s rally but remains above the 20-day
moving average crossing at .12552. The low-range close sets the stage for a
steady to lower opening when Monday’s night session begins trading. Stochastics
and the RSI are bullish signaling that sideways to higher prices are possible
near-term. If December extends this week’s rally, the reaction high crossing at
.12836 are the next upside target. Closes below the 10-day moving average
crossing at .12516 would temper the near-term friendly outlook. First
resistance is today’s high crossing at .12650. Second resistance is the
reaction high crossing at .12836. First support is the 10-day moving average
crossing at .12516. Second support is last Friday’s low crossing at .12399.

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

December gold closed higher on Friday as it extended the rebound off
Monday’s low. The low-range close sets the stage for a steady to lower opening
when Monday’s night session begins trading. Stochastics and the RSI are bullish
signaling that sideways to higher prices are possible near-term. If December
extends this week’s rally, the reaction high crossing at 1755.00 is the next
upside target. Closes below the 10-day moving average crossing at 1710.00 would
temper the near-term friendly outlook. First resistance is today’s high
crossing at 1739.40. Second resistance is the reaction high crossing at
1755.00. First support is the 10-day moving average crossing at 1709.90. Second
support is Monday’s low crossing at 1672.50.

December silver closed higher on Friday and above the 20-day moving average
crossing at 32.114 signaling that a short-term low has been posted. The
high-range close set 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 December extends
today’s rally, the reaction high crossing at 33.325 is the next upside target.
If December renews the decline off October’s high, the 62% retracement level of
the June-October rally crossing at 29.752 is the next downside target. First
resistance is the reaction high crossing at 33.325. Second resistance is the
reaction high crossing at 34.380. First support is the 50% retracement level of
the June-October rally crossing at 30.850. Second support is the 62%
retracement level of the June-October rally crossing at 29.752.

December copper closed lower on Friday as it extended the decline off
September’s high. 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 December extends the decline off September’s high, the 87%
retracement level of the June-September rally crossing at 333.36 is the next
downside target. Closes above the 20-day moving average crossing at 356.36
would confirm that a short-term low has been posted. First resistance is the
reaction high crossing at 356.90. Second resistance is the 20-day moving
average crossing at 356.36. First support is the 75% retracement level of the
June-September rally crossing at 340.65. Second support is the 87% retracement
level of the June-September rally crossing at 333.36.

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

December coffee close lower on Friday as it extended the decline off
October’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 bearish
signaling that additional weakness is possible near-term. If December extends
the decline off October’s high, June’s 2010-low crossing at 13.79 is the next
downside target. Closes above the 20-day moving average crossing at 15.72 are
needed to confirm that a short-term low has been posted.

December cocoa closed higher due to short covering on Friday as it
consolidated some of the decline off September’s high. The high-range close
sets the stage for a steady to higher opening on Monday. Stochastics and the
RSI are bearish signaling that sideways to lower prices are possible near-term.
If December extends the decline off October’s high, the 50% retracement level
of the June-September rally crossing at 23.01 is the next downside target. If
December renews the rally off last week’s low, October’s high crossing at 25.26
is the next upside target.

March sugar closed higher due to short covering on Friday as it consolidates
some of this year’s decline. 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 20-day moving
average crossing at 19.57 are needed to confirm that a low has been posted. If
March extends the decline off October’s high, the 75% retracement level of the
2010-2011 rally crossing at 17.38 is the next downside target.

December cotton closed higher due to short covering on Friday as it
consolidated some of the decline off October’s high. The mid-range close sets
the stage for a steady 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 December extends the aforementioned decline, the
reaction low crossing at 67.16 is the next downside target. Closes above the
20-day moving average crossing at 72.60 would temper the near-term bearish
outlook.
——————————

—————————————

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

http://broadcast.ino.com/redirect/?linkid=1952

———————————————————————

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

December Corn closed down 2 1/2-cents at 7.38 3/4.

December corn closed lower on Friday while extending October’s trading
range. The low-range close sets the stage for a steady to lower opening when
Friday’s night session begins trading. Stochastics and the RSI are diverging
and turning neutral hinting that a low might be in or is near. Closes above the
20-day moving average crossing at 7.46 3/4 would temper the near-term bearish
outlook. Closes below the reaction low crossing at 7.32 1/4 would confirm a
downside breakout of October’s trading range while opening the door for
additional weakness near-term. First resistance is the 20-day moving average
crossing at 7.46 3/4. Second resistance is October’s high crossing at 7.76.
First support is the reaction low crossing at 7.32 1/4. Second support is the
late-September low crossing at 7.05.

December wheat closed up 8 1/2-cents at 9.02 1/2.

December wheat posted a key reversal down on Friday following a bearish
supply-demand report. The USDA lowered its export sales projections by 50
million bushels and raised carryout above 700 million bushels. The low-range
close sets the stage for a steady to lower opening when Monday’s night session
begins trading. Stochastics and the RSI are bullish signaling that sideways to
higher prices are possible near-term. If December extends this week’s rally,
September’s high crossing at 9.31 is the next upside target. Closes below the
20-day moving average crossing at 8.69 3/4 would temper the near-term friendly
outlook. From a broad perspective, December wheat needs to close above 9.53 1/4
or below 8.40 1/4 to confirm a breakout of this summer’s trading range and
point the direction of the next trending move. First resistance is the reaction
high crossing at 9.07. Second resistance is September’s high crossing at 9.31.
First support is October’s low crossing at 8.40 1/4. Second support is the 38%
retracement level of this summer’s rally crossing at 8.29 3/4.

December Kansas City Wheat closed down 14 3/4-cents at 9.22 1/4.

December 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
bullish signaling that sideways to higher prices are possible near-term. If
December extends the rally off September’s low, September’s high crossing at
9.49 1/4 is the next upside target. Closes below the 20-day moving average
crossing at 9.09 1/4 would temper the near-term friendly outlook. First
resistance is Thursday’s high crossing at 9.40. Second resistance is
September’s high crossing at 9.49 1/4. First support is the 20-day moving
average crossing at 9.09 1/4. Second support is September’s low crossing at
8.75 1/2.

December Minneapolis wheat closed down 8 1/4-cents at 9.50 1/2.

December Minneapolis wheat closed lower on Friday and the low-range close
sets the stage for a steady to lower opening when Monday’s night session begins
to trade. Stochastics and the RSI are bullish signaling that sideways to higher
prices are possible near-term. Closes above the reaction high crossing at 9.63
1/2 are needed to confirm that a short-term low has been posted. Multiple
closes below the 20-day moving average crossing at 9.42 3/4 would signal that a
short-term top has been posted. First resistance is the reaction high crossing
at 9.63 1/2. Second resistance is September’s high crossing at 9.83 1/2. First
support is the 20-day moving average crossing at 9.42 3/4. Second support is
September’s low crossing at 9.12.

SOYBEAN COMPLEX

January soybeans closed down 44 1/2-cents at 14.51 1/4.

January soybeans closed sharply lower on Friday and tested the 62%
retracement level of the June-September rally crossing at 14.53 1/2 as it
extends the decline off October’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 January extends this week’s decline, 62% retracement
level of the June-September rally crossing at 14.53 1/2 is the next downside
target. Closes above the 20-day moving average crossing at 15.27 3/4 would
confirm that a short-term low has been posted. First resistance is the 20-day
moving average crossing at 15.27 3/4. Second resistance is the reaction high
crossing at 15.76. First support is today’s low crossing at 14.50. Second
support is the 62% retracement level of the June-September rally crossing at
14.53 1/2.

December soybean meal closed down $13.20 at $449.70.

December soybean meal closed lower on Friday and renewed the decline off
September’s high. The low-range close sets the stage for a steady to lower
opening when Monday’s night session begins trading. Stochastics and the RSI are
bearish signaling that sideways to lower prices are possible near-term. If
December extends today’s decline, is the 50% retracement level of the
June-September rally crossing at 446.60 is the next downside target. Closes
above the 10-day moving average crossing at 471.40 would temper the near-term
bearish outlook. First resistance is the 10-day moving average crossing at
471.40. Second resistance is the reaction high crossing at 490.00. First
support is today’s low crossing at 449.20. Second support is the 50%
retracement level of the June-September rally crossing at 446.60.

December soybean oil closed down 100-pts. at 47.77.

December soybean 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 oversold but remain neutral to bearish signaling
that sideways to lower prices are possible near-term. If December extends this
week’s decline, the 50% retracement level of the 2009-2011-rally crossing at
47.07 is the next downside target. Closes above the 20-day moving average
crossing at 50.24 would signal that a short-term low has been posted. First
resistance is the 20-day moving average crossing at 50.24. Second resistance is
October’s high crossing at 52.47. First support is today’s low crossing at
47.70. Second support is the 50% retracement level of the 2009-2011-rally
crossing at 47.07.

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

December hogs closed up $0.55 at $80.75.

December hogs closed higher on Friday as it extends the rally off
September’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
bullish signaling that sideways to higher prices are possible near-term. If
December extends this week’s rally, July’s highs crossing at 82.25 is the next
upside target. Closes below Tuesday’s low crossing at 76.65 would confirm that
a short-term top has been posted. First resistance is today’s high crossing at
80.95. Second resistance is July’s high crossing at 82.25. First support is
Tuesday’s low crossing at 76.65. Second support is the reaction low crossing at
75.75.

December cattle closed up $0.32 at 125.75.

December cattle closed higher on Friday and the mid-range close sets the
stage for a steady opening when Monday’s night session begins trading.
Stochastics and the RSI are neutral to bullish hinting that a low might be in
or is near. Closes above the 20-day moving average crossing at 126.14 would
temper the near-term bearish outlook. If December renews the decline off
October’s high, September’s low crossing at 123.95 is the next downside target.
First resistance is the 20-day moving average crossing at 126.14. Second
resistance is the reaction high crossing at 127.40. First support is
Wednesday’s low crossing at 124.55. Second support is September’s low crossing
at 123.95.

January feeder cattle closed down $0.27 at $145.60.

January Feeder cattle 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 oversold but remain neutral to bearish signaling
that sideways to lower prices are possible near-term. If January extends the
decline off October’s high, the reaction low crossing at 144.45 is the next
downside target. Closes above the 20-day moving average crossing at 147.98
would temper the near-term bearish outlook. First resistance is the 20-day
moving average crossing at 147.98. Second resistance is the reaction high
crossing at 149.50. First support is Wednesday’s low crossing at 144.90. Second
support is the reaction low crossing at 144.45.

_____________________________________________________________________

T H A N K   Y O U
_____________________________________________________________________