KEY EVENTS TO WATCH FOR:

Friday, March 9, 2018 

8:30 AM ET. February U.S. Employment Report

                       Non-Farm Payrolls (expected +205K; previous +200K)

                       Unemployment Rate (expected 4.0%; previous 4.1%)

                       Avg Hourly Earnings (USD) (previous 26.74)

                       Avg Hourly Earnings-Net Chg (USD) (previous +0.09)

                       Avg Hourly Earnings, M/M% (expected +0.2%; previous +0.34%)

                       Avg Hourly Earnings, Y/Y% (previous +2.9%)

                       Overall Workweek (previous 34.3)

                       Overall Workweek Net Chg (previous -0.2)

                       Government Payrolls (previous +4K)

                       Private Payroll (previous +196K)

                       Participation Rate (previous 62.7%)

                       Non-Farm Payrolls Bench Net Chg (previous +146K)

10:00 AM ET. January Monthly Wholesale Trade

                       Inventories, M/M% (expected +0.7%; previous +0.4%)

Monday, March 12, 2018  

10:00 AM ET. January Regional & State Employment & Unemployment

10:00 AM ET. February Employment Trends Index

                       ETI (previous 106.93)

                       ETI, Y/Y% (previous +5.4%)

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

The STOCK INDEXES? http://quotes.ino.com/ex?changes/?c=indexes ""

The March NASDAQ 100 closed higher on Thursday. 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 neutral to bullish signaling that sideways to higher prices are possible near-term. If March renews the rally off February's low, January's high crossing at 7047.25 is the next upside target. Closes below the 50-day moving average crossing at 6745.92 are needed to confirm that a short-term top has been posted. First resistance is February's high crossing at 7009.00. Second resistance is January's high crossing at 7047.25. First support is the 50-day moving average crossing at 6745.92. Second support is the 25% retracement level of the 2017-2018-rally crossing at 6504.28. 

The March S&P 500 closed higher on Thursday. The high-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are neutral signaling that sideways trading is possible near-term. If March renews the decline off last week's high, the reaction low crossing at 2627.50 is the next downside target. If March renews the rally off February's low, the reaction high crossing at 2839.00 is the next upside target. First resistance is February's high crossing at 2789.50. Second resistance is the reaction high crossing at 2839.00. First support is the 25% retracement level of the 2016-2018-rally crossing at 2651.19. Second support is the reaction low crossing at 2627.50 is the next downside target.

The Dow closed higher on Thursday. The mid-range close sets the stage for a steady opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If the Dow extends last week's decline, February's low crossing at 23,360.29 is the next downside target. Closes above the 50-day moving average crossing at 25,283.03 would temper the near-term bearish outlook. First resistance is February's high crossing at 25,800.35. Second resistance is the reaction high crossing at 26,338.03. First support is last Friday's low crossing at 24,217.76. Second support is February's low crossing at 23,360.29.    

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March T-bonds closed up 17/32's at 144-21.

March T-bonds closed higher on Thursday. 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 neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off February's low, the 38% retracement level of the December-February-decline crossing at 147-01 is the next upside target. If March renews the decline off December's high,weekly support crossing at 140-03 is the next downside target.First resistance is the 25% retracement level of the December-February-decline crossing at 145-14. Second resistance is the 38% retracement level of the December-February-decline crossing at 147-01. First support is February's low crossing at 142-24. Second support is weekly support crossing at 140-03.   

March T-notes closed up 75/32's at 120-280.

March T-notes 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off February's low, the 50-day moving average crossing at 121-267 is the next upside target. If March resumes this winter's decline, weekly support crossing at 119.170 is the next downside target. First resistance is last Friday's high crossing at 121.095. Second resistance is the 50-day moving average crossing at 121.267. First support is February's low crossing at 120.010. Second support is weekly support crossing at 119.170.   

ENERGY MARKETS? http://quotes.ino.com/ex?changes/?c=energy ""

April crude oil closed lower on Thursday. The low-range close sets the stage for a steady to lower opening when Friday's night session begins. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Today's close below the reaction low crossing at 60.75 confirms that a short-term top has been posted while opening the door for additional weakness near-term. If April renews the rally off February's low, January's high crossing at 66.66 is the next upside target. First resistance is last Monday's high crossing at 64.24. Second resistance is January's high crossing at 66.66. First support is today's low crossing at 60.06. Second support is February's low crossing at 57.90.

April heating oil closed lower on Thursday. The low-range close sets the stage for a steady to lower opening when Friday's night trading session begins. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If April extends the aforementioned decline, February's low crossing at 180.97 is the next downside target. Multiple closes above the 50-day moving average crossing at 198.33 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 191.60. Second resistance is the 50-day moving average crossing at 198.33. First support is February's low crossing at 180.97. Second support is the 38% retracement level of the 2016-2018-rally crossing at 176.89.

April unleaded gas closed lower on Thursday. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If April extends today's decline, February's low crossing at 183.84 is the next downside target. Closes above the 10-day moving average crossing at 193.68 would temper the near-term bearish outlook. First resistance is the late-February high crossing at 201.22. Second resistance is February's high crossing at 208.46. First support is February's low crossing at 183.84. Second support is the 38% retracement level of the 2016-2018-rally crossing at 179.34. 

April Henry natural gas closed lower due to profit taking on Thursday as it consolidates some of the rally off February's low. The mid-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If April extends the aforementioned rally, the reaction high crossing at 2.833 is the next upside target. Closes below the 20-day moving average crossing at 2.676 would confirm that a short-term top has been posted. First resistance is today's high crossing at 2.793. Second resistance is the reaction high crossing at 2.833. First support is the 20-day moving average crossing at 2.676. Second support is February's low crossing at 2.565. 

CURRENCIES? http://quotes.ino.com/ex?changes/?c=currencies ""

The March Dollar 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. If March renews the rally off February's low, the 50% retracement level of the November-February-decline crossing at 91.46 is the next upside target. If March extends this week's decline, February's low crossing at 88.15 is the next downside target. First resistance is the 38% retracement level of the November-February-decline crossing at 90.67. Second resistance is the 50% retracement level of the November-February-decline crossing at 91.46. First support is Wednesday's low crossing at 89.33. Second support is February's low crossing at 88.15. 

The March Euro closed lower on Thursday. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If March renews the decline off February's high, the 50% retracement of the November-February-rally crossing at 121.15. If March extends this week's rally, February's high crossing at 125.80 is the next upside target. First resistance is Wednesday's high crossing at 124.62. Second resistance is February's high crossing at 125.80. First support is February's low crossing at 121.66. Second support is the 50% retracement level of the November-February-rally crossing at 121.15.    

The March British Pound closed lower on Thursday. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If March renews the decline off January's high, January's low crossing at 1.3486 is the next downside target. Closes above the 20-day moving average crossing at 1.3917 are needed to confirm that a short-term low has been posted. First resistance is the reaction high crossing at 1.4160. Second resistance is February's high crossing at 1.4300. First support is last Thursday's low crossing at 1.3719. Second support is January's low crossing at 1.3486.     

The March Swiss Franc closed sharply lower and below the 50-day moving average crossing at 1.0561 on Thursday thereby opening the door for additional weakness near-term. 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 neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends today's decline, the 50% retracement level of the November-February-rally crossing at 1.0486 is the next downside target. Closes above the 20-day moving average crossing at 1.0685 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 1.0685. Second resistance is February's high crossing at 1.0908. First support is the 50% retracement level of the November-February-rally crossing at 1.0486. Second support is the 62% retracement level of the November-February-rally crossing at 1.0386. 

The March Canadian Dollar closed lower on Thursday. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off January's high, weekly support crossing at 76.04 is the next downside target. Closes above the 20-day moving average crossing at 78.70 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 77.96. Second resistance is the 20-day moving average crossing at 78.70. First support is Monday's low crossing at 76.92. Second support is weekly support crossing at 76.04.  

The March Japanese Yen closed lower on Thursday. The low-range close sets the stage for a steady to lower opening when Friday’s night session begins trading. Stochastics and the RSI are neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 0.9360 are needed to confirm that a short-term top has been posted. If March extends the rally off January's low, the 62% retracement level of 2016's trading range crossing at 0.9680 is the next upside target. First resistance is the 50% retracement level of 2016's trading range crossing at 0.9491. Second resistance is the 62% retracement level of 2016's trading range crossing at 0.9680. First support is the 20-day moving average crossing at 0.9360. Second support is the 50-day moving average crossing at 0.9170.   

PRECIOUS METALS? http://quotes.ino.com/ex?changes/?c=metals ""

April gold closed lower on Thursday following Wednesday's downside reversal. 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 neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above last Monday's high crossing at 1342.90 are needed to confirm that a short-term low has been posted. If April renews the decline off February's high, the 62% retracement level of the December-January-rally crossing at 1291.60 is the next downside target. First resistance is February's high crossing at 1364.40. Second resistance is January's high crossing at 1370.50. First support is the 50% retracement level of the December-January-rally crossing at 1306.70. Second support is the 62% retracement level of the December-January-rally crossing at 1291.60.

May silver closed slightly higher on Thursday. The mid-range close set the stage for a steady opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the reaction high crossing at 17.025 are needed to confirm that a short-term low has been posted. If May extends the decline off January's high, December's low crossing at 15.705 is the next downside target. First resistance is the reaction high crossing at 17.025. Second resistance is January's high crossing at 17.785. First support is last Thursday's low crossing at 16.160. Second support is December's low crossing at 15.705.     

May copper closed lower on Thursday thereby renewing the decline off February'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 remain neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends the decline off February's high, February's low crossing at 304.65 is the next downside target. Closes above the 50-day moving average crossing at 321.01 are needed to confirm that a short-term top has been posted. First resistance is the 50-day moving average crossing at 321.01. Second resistance is February's high crossing at 329.05. First support is today's low crossing at 307.05. Second support is February's low crossing at 304.65.

GRAINS? http://quotes.ino.com/ex?changes/?c=grains "

May Corn closed up 6-cents at 3.93 1/4. 

May corn posted a key reversal up and closed higher on Thursday following a friendly monthly supply-demand report. 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 May extends the rally off January's low, the 62% retracement level of 2017's decline crossing at 4.01 is the next upside target. Closes below the 20-day moving average crossing at 3.78 3/4 are needed to confirm that a short-term top has been posted. First resistance is today's high crossing at 3.93 3/4. Second resistance is the 62% retracement level of the July-January-decline crossing at 4.01. First support is the 10-day moving average crossing at 3.83 3/4. Second support is the 20-day moving average crossing at 3.78 3/4.  

May wheat closed up 2-cents at 4.99 1/4. 

May wheat 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 neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 4.80 1/2 are needed to confirm that a short-term top has been posted. If May extends the rally off January's low, the 62% retracement level of 2017's decline crossing at 5.38 1/4 is the next upside target. First resistance is the 50% retracement level of 2017's decline crossing at 5.16 1/4. Second resistance is the 62% retracement level of 2017's decline crossing at 5.38 1/4. First support is the 10-day moving average crossing at 4.93 1/4. Second support is the 20-day moving average crossing at 4.80 1/2.     

May Kansas City Wheat closed down 1-cents at 5.33 1/4. 

May Kansas City wheat closed lower on Thursday as it consolidates some of the rally off December's low. The mid-range close sets the stage for a steady opening on Friday. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 5.05 3/4 are needed to confirm that a short-term top has been posted. If May extends the rally off December's high, the 75% retracement level of 2017's decline crossing at 5.70 3/4. First resistance is the 62% retracement level of 2017's decline crossing at 5.44 3/4. Second resistance is the 75% retracement level of 2017's decline crossing at 5.70 3/4. First support is the 10-day moving average crossing at 5.23 3/4. Second support is the 20-day moving average crossing at 5.05 3/4.    

May Minneapolis wheat closed up 4 3/4-cents at 6.24 3/4. 

May Minneapolis wheat 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 neutral to bearish signaling that sideways to lower prices are possible near-term. If May resumes the decline off January's high, the 87% retracement level of the April-July-rally crossing at 5.89 1/4 is the next downside target. If May extends the rally off February's low, January's high crossing at 6.39 3/4 is the next upside target. First resistance is January's high crossing at 6.39 3/4. Second resistance is the reaction high crossing at 6.57. First support is February's low crossing at 6.08. Second support is the 87% retracement level of the April-July-rally crossing at 5.89 1/4. 

SOYBEAN COMPLEX? http://quotes.ino.com/ex?changes/?c=grains "

May soybeans closed down 3 1/4-cents at 10.62. 

May soybeans closed lower on Thursday as it consolidates some of the rally off January's low.The mid-range close sets the stage for a steady opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bearish hinting that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 10.43 are needed to confirm that a short-term top has been posted. If May renews the rally off January's low, weekly resistance crossing at 10.91 1/2 is the next upside target. First resistance is last Friday's high crossing at 10.82 1/2. Second resistance is weekly resistance crossing at 10.91 1/2. First support is the 10-day moving average crossing at 10.61 1/4. Second support is the 20-day moving average crossing at 10.43. 

May soybean meal closed down $0.50 at 383.00. 

May soybean meal closed lower on Thursday as it extends this week's decline. The mid-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 377.90 are needed to confirm that a short-term top has been posted. If May renews the rally off January's low, weekly resistance crossing at 414.70 is the next upside target. First resistance is last Friday's high crossing at 404.00. Second resistance is weekly resistance crossing at 414.70. First support is the 20-day moving average crossing at 377.90. Second support is the reaction low crossing at 371.10.  

May soybean oil closed down 29 pts. At 31.81. 

May soybean oil closed lower on Thursday. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If May renews the decline off January's high, the July-2016 low crossing at 31.37 is the next downside target. Closes above the 50-day moving average crossing at 32.78 are needed to confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 32.78. Second resistance is February's high crossing at 33.50. First support is February's low crossing at 31.61. Second support is the July-2016 low crossing at 31.37.

LIVESTOCKhttp://quotes.ino.com/exchanges/?c=livestock 

April hogs closed up $0.28 at $68.08. 

April hogs closed higher on Thursday it rebounds off the 87% retracement level of the August-January-rally crossing at 66.60. The high-range close sets the stage for a steady to higher opening when Friday's session begins trading. Stochastics and the RSI have turned neutral to bullish signaling that a short-term low might be in or is near. Closes above the 20-day moving average crossing at 69.15 are needed to confirm that a short-term low has been posted. If April extends the decline off January's high, last August's low crossing at 65.03 is the next downside target. First resistance is the 20-day moving average crossing at 69.15. Second resistance is the late-February high crossing at 71.95. First support is the 87% retracement level of the August-January-rally crossing at 66.60. Second support is last-August low crossing at 65.03.

April cattle closed down $1.20 at 121.78. 

April cattle closed lower on Thursday. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If April extends the aforementioned decline, January's low crossing at 118.05 is the next downside target. Closes above the 20-day moving average crossing at 124.46 are needed to confirm that a short-term low has been posted. First resistance is February's high crossing at 127.95. Second resistance is November's high crossing at 130.10. First support is today's low crossing at 120.90. Second support is January's low crossing at 118.05.

April Feeder cattle closed down $2.38 at $143.00. 

April Feeder cattle closed sharply lower on Thursday as it renewed the decline off February's high. The low-range close sets the stage for a steady to lower opening when Friday's 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 aforementioned decline, January's low crossing at 140.25 is the next downside target. Closes above the 20-day moving average crossing at 148.31 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 148.31. Second resistance is February's high crossing at 153.10. First support is January's low crossing at 140.25. Second support is December's low crossing at 139.27.   

FOOD & FIBERhttp://quotes.ino.com/ex changes/?c=food 

May coffee closed lower on Thursday. The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If May renews the decline off January's high, weekly support crossing at 11.55 is the next downside target. Closes above the 50-day moving average crossing at 124.49 are needed to confirm that a low has been posted.    

May cocoa closed higher on Thursday as it extends the rally off December'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 May extends the rally off December's low, the 62% retracement level of the 2016-2017-decline crossing at 25.89 is the next upside target. Closes below the 20-day moving average crossing at 22.09 would confirm that a short-term top has been posted. 

May sugar posted an inside day with a higher close on Thursday as it consolidates some of this year's decline. The low-range close set the stage for a steady to lower opening on Friday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends this year's decline, weekly support crossing at 12.45 is the next downside target. Closes above the 50-day moving average crossing at 13.82 are needed to confirm that a low has been posted. 

May cotton closed higher on Thursday. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If May extends the rally off February's low, weekly resistance crossing at 87.18 is the next upside target. Closes below the 50-day moving average crossing at 80.16 are needed to confirm that a short-term top has been posted.