KEY EVENTS TO WATCH

KEY EVENTS TO WATCH
Monday, October 12, 2009
N/A Columbus Day; government offices closed.


The STOCK INDEXES

The December NASDAQ 100 was higher overnight as it extends this month's rally. Stochastics and the RSI remain bullish signaling that sideways to higher prices are possible near-term. If December extends last week's rally, September's high crossing at 1753.25 is the next upside target. Closes below the 10-day moving average crossing at 1702.47 would signal that a short-term top has likely been posted. First resistance is the overnight high crossing at 1735.75. Second resistance is September's high crossing at 1753.25. First support is the 20-day moving average crossing at 1709.31. Second support is the 10-day moving average crossing at 1702.52. The December NASDAQ 100 was up 10.00 pts. at 1735.50 as of 6:00 AM CST. Overnight action sets the stage for a higher opening by December NASDAQ 100 when the day session begins later this morning.

The December S&P 500 index was higher overnight as it extends the rally off this month's low. Stochastics and the RSI remain bullish signaling that sideways to higher prices are possible near-
term. If December extends last week's rally, September's high crossing at 1075.50 is the next upside target. Closes below the 10-day moving average crossing at 1050.15 would signal that a short-term top has been posted. First resistance is the overnight high crossing at 1075.30. Second resistance is September's high crossing at 1075.50. First support is the 20-day moving average crossing at 1053.30. Second support is the 10-day moving average crossing at 1050.15. The December S&P 500 Index was up 6.40 pts. at 1074.50 as of 6:02 AM CST. Overnight action sets the stage for a higher opening by the December S&P 500 index when the day session begins later this morning.


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December T-bonds were slightly higher overnight due to short covering overnight as it consolidates some of last Friday's decline. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near-term. If December extends last week's decline, the reaction low crossing at 118-07 is the next downside target. Closes above the 10-day moving average crossing at 121-22 are needed to confirm that a short-term low has been posted. First resistance is the 20-
day moving average crossing at 120-23. Second resistance is the 10-day moving average crossing at 121-22. First support is last Friday's low crossing at 119-20. Second support is the reaction low crossing at 118-07. ENERGY MARKETS http://quotes.ino.com/exchanges/?c=energy
November crude oil was higher overnight as it extends the rally off September's low. Stochastics and the RSI remain bullish signaling that sideways to higher prices are possible near-term. If November extends the rally, September's high crossing at 73.58 is the next upside target. Closes below the 20-day moving average crossing at 70.22 would temper the near-term friendly outlook in the market. First resistance is the overnight high crossing at 73.13. Second resistance is September's high crossing at 73.58. First support is the 10-day moving average crossing at 70.54. Second support is the 20-day moving average crossing at 70.22.
November heating oil was higher overnight as it extends the rally off September's low. Stochastics and the RSI remain bullish signaling that sideways to higher prices are possible near-term. If November extends the rally off September's low, September's high crossing at 188.78 is the next upside target. Closes below the 20-day moving average crossing at 180.54 would temper the near-
term friendly outlook. First resistance is the overnight high crossing at 188.20. Second resistance is September's high crossing at 188.78. First support is the 10-day moving average crossing at 181.49. Second support is the 20-day moving average crossing at 180.54.
November unleaded gas was higher overnight as it extends the rally off September's low. Stochastics and the RSI remain bullish signaling that sideways to higher prices are possible near-
term. If November extends the rally off September's low, September's high crossing at 187.36 is the next upside target. Closes below last Monday's low crossing at 168.85 would temper the near-

term friendly outlook in the market. First resistance is last Thursday's high crossing at 180.86. Second resistance is September's high crossing at 187.36. First support is the 20-day moving average crossing at 175.10. Second support is the 10-day moving average crossing at 174.77.
November Henry natural gas was higher due to short covering overnight as it consolidates some of last Friday's decline. Stochastics and the RSI are diverging and are neutral to bearish signaling that a short-term top might be in or is near. Closes below the reaction low crossing at 4.351 would confirm that a short-term top has been posted. If November extends the rally off September's low, August's high crossing at 5.133 then the 50% retracement level of this year's decline crossing at 5.320 are the next upside targets. First resistance is last Tuesday's high crossing at 5.120. Second resistance is August's high crossing at 5.133. First support is last Friday's low crossing at 4.754. Second support is the 20-day moving average crossing at 4.739. CURRENCIES

The December Dollar was lower overnight as it consolidates some of last Friday's rally but remains above monthly support crossing at 75.73. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends this month's decline, monthly support crossing at 73.39 is the next downside target. Closes above the reaction high crossing at 77.74 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 76.80. Second resistance is the reaction high crossing at 77.74. First support is last Thursday's low crossing at 75.68. Second support is monthly support crossing at 73.39.
The December Euro was higher due to short covering overnight as it consolidates some of last Friday's decline. Stochastics and the RSI remain bullish signaling that sideways to higher prices are possible near-term. If December extends this month's rally, September's high crossing at 148.440 is the next upside target. Closes below the reaction low crossing at 144.790 are needed to confirm that a short-term top has been posted. First resistance is last Thursday's high crossing at 148.160. Second resistance is September's high crossing at 148.440. First support is the 20-day moving average crossing at 146.816. Second support is the reaction low crossing at 144.790.

The December British Pound was lower overnight as it extends the trading range of the past three weeks. Stochastics and the RSI are oversold, diverging but are neutral signaling that sideways to lower prices are possible near-term. If December extends the decline off September's high, the 50% retracement level of this year's rally crossing at 1.5394 is the next downside target. Closes above the 20-day moving average crossing at 1.6089 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 1.6089. Second resistance is the reaction high crossing at 1.6124. First support is the overnight low crossing at 1.5724. Second support is the 50% retracement level of this year's rally crossing at 1.5394.

The December Swiss Franc was higher overnight and remains poised to extend the rally off the late-September low. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends this rally, September's high crossing at .9920 is the next upside target. Closes below the reaction low crossing at .9522 would confirm that a short-

term top has been posted. First resistance is last Thursday's high crossing at .9785. Second resistance is September's high crossing at .9920. First support is the reaction low crossing at .9522. Second support is the 38% retracement level of this year's rally crossing at .9376.
The December Canadian Dollar was higher overnight as it extends this month's rally and tested the 87% retracement level of the 2008-2009-decline crossing at 96.84. Stochastics and the RSI are overbought but remain bullish signaling that sideways to higher prices are possible near-term. If December extends this month's rally, the 2008 high crossing at 99.65 is the next upside target. Closes below the 20-day moving average crossing at 93.48 would confirm that a short-term top has been posted. First resistance is the overnight high crossing at 96.86. Second resistance is the 2008 high crossing at 99.65. First support is the 10-day moving average crossing at 94.01. Second support is the 20-day moving average crossing at 93.48.
The December Japanese Yen was lower due to profit taking overnight as it extends last Friday's decline. Stochastics and the RSI are overbought and are turning bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at .11089 are needed to confirm that a short-term top has been posted. If December renews the rally off August's low, the 2008 high crossing at .11472 is the next upside target. First resistance is the 10-day moving average crossing at .11183. Second resistance is last Wednesday's high crossing at .11368. First support is the 20-day moving average crossing at .11089. Second support is the reaction low crossing at .10812.

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December gold was higher due to short covering overnight as it consolidates some of last Friday's decline. Overnight weakness in the U.S. Dollar overnight helped to support the gold market. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. As December extends this month's rally into uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average crossing at 1016.90 would confirm that a short-term top has been posted. First resistance is last Thursday's high crossing at 1062.70. First support is the 10-day moving average crossing at 1026.90. Second support is the 20-day moving average crossing at 1016.90.
December silver was higher overnight as it extends this month's rally. Stochastics and the RSI remain bullish signaling that sideways to higher prices are possible near-term. If December extends this rally, the 75% retracement level of 2008's decline crossing at 18.180 on the weekly continuation chart is the next upside target. Closes below the 20-day moving average crossing at 16.921 would confirm that a short-term top has been posted. First resistance is the overnight high crossing at 17.990. Second resistance is the 75% retracement level of 2008's decline crossing at 18.180. First support is the 10-day moving average crossing at 17.021. Second support is the 20- day moving average crossing at 16.921.

December copper was higher due to short covering overnight as it consolidates above the 20-day moving average. Stochastics and the RSI remain bullish signaling that sideways to higher prices are possible near-term. If December extends last week's rally, the reaction high crossing at 295.50 is the next upside target. Closes below the 10-day moving average crossing at 278.54 would temper the near-term friendly outlook. Closes above the reaction high crossing at 298.95 or below 266.00 are needed to confirm a breakout of the current trading range and point the direction of the next trending move. First resistance is last Thursday's high crossing at 290.10. Second resistance is the reaction high crossing at 295.50. First support is the 20-day moving average crossing at 279.86. Second support is the 10-day moving average crossing at 278.55. FOOD & FIBER http://quotes.ino.com/exchanges/?c=food