KEY EVENTS TO WATCH FOR:
Monday, March 19, 2018
10:00 AM ET. 4th Quarter Quarterly Financial Report – Industry
10:00 AM ET. 4th Quarter Quarterly Financial Report - Retail Trade
The STOCK INDEXES? http://quotes.ino.com/ex?changes/?c=indexes ""
The June NASDAQ 100 closed lower on Friday as it extends this week's decline off Tuesday'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 have turned neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 6949.43 are needed to confirm that a short-term top has been posted. With June resumes this year's rally into uncharted territory, upside targets will be hard to project near-term. First resistance is Tuesday's high crossing at 7214.50. Second resistance is unknown. First support is the 10-day moving average crossing at 7031.88. Second support is the 20-day moving average crossing at 6949.43.
The June S&P 500 closed slightly higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI have turned neutral to bearish signaling that short-term top might be in or is near. Closes below the 20-day moving average crossing at 2740.71 would confirm that a short-term top has been posted. If June renews the rally off February's low, February's high crossing at 2879.10 is the next upside target. First resistance is Tuesday's high crossing at 2806.00. Second resistance is February's high crossing at 2879.10. First support is the 20-day moving average crossing at 2740.71. Second support is March's low crossing at 2663.00.
The Dow posted an inside day with a higher close 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 neutral to bearish signaling that sideways to lower prices are possible near-term. If the Dow renews the decline off the late-February high, March's low crossing at 24,217.76 is the next downside target. If the Dow renews the rally off March's low, the late-February high crossing at 25,800.35 is the next upside target. First resistance is the late-February high crossing at 25,800.35. Second resistance is February's high crossing at 26,616.71. First support is March's low crossing at 24,217.76. Second support is February's low crossing at 23,360.29.
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June T-bonds closed down 11/32's at 144-15.
June T-bonds closed lower 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off February's low, the 38% retracement level of the December-February-decline crossing at 146-01 is the next upside target. Closes below the 20-day moving average crossing at 143-13 would temper the near-term friendly outlook. First resistance is the 50-day moving average crossing at 145-16. Second resistance is the 38% retracement level of the December-February-decline crossing at 146-01. First support is February's low crossing at 141-14. Second support is weekly support crossing at 140-03.
June T-notes closed down 45/32's at 120-115.
June T-notes closed lower on Thursday 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 remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off February's low, the 50-day moving average crossing at 120-311 is the next upside target. If June resumes this winter's decline, weekly support crossing at 117.295 is the next downside target. First resistance is the 50-day moving average crossing at 120.311. Second resistance is the reaction high crossing at 122.020. First support is the reaction low crossing at 119.265. Second support is February's low crossing at 119.140.
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April crude oil closed higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday's night session begins. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If April renews the rally off February's low, January's high crossing at 66.66 is the next upside target. If April extends the decline off the late-February high, February's low crossing at 57.90 is the next downside target. First resistance is the reaction high crossing at 64.24. Second resistance is January's high crossing at 66.66. First support is last Thursday's low crossing at 60.06. Second support is February's low crossing at 57.90.
April heating oil closed higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday's night trading session begins. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Multiple closes above the 20-day moving average crossing at 190.96 are needed to confirm that a short-term low has been posted. If April resumes the decline off the late-February high, February's low crossing at 180.97 is the next downside target. First resistance is the 20-day moving average crossing at 190.96. Second resistance is the 50-day moving average crossing at 196.89. 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 higher on Friday and above the 20-day moving average crossing at 192.99 tempering the near-term bearish outlook. 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 signaling that sideways to higher prices are possible near-term. If April extends this week's rally, the 50-day moving average crossing at 197.79 is the next upside target. If April renews the decline off the late-February high, February's low crossing at 183.84 is the next downside target. 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 posted an inside day with a higher close on Friday as it consolidated some of Thursday's decline but remains below the 20-day moving average crossing at 2.706. 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 April extends this week's decline, the reaction low crossing at 2.612 is the next downside target. If April resumes the rally off February's low, the reaction high crossing at 2.833 is the next upside target. First resistance is Tuesday's high crossing at 2.811. Second resistance is the reaction high crossing at 2.833. First support is the reaction low crossing at 2.612. Second support is February's low crossing at 2.565.
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The June Dollar closed higher on Friday while extend this year'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 have turned neutral to bullish signaling that sideways to higher prices are possible near-term. If June renews the rally off February's low, the 50% retracement level of the November-February-decline crossing at 91.13 is the next upside target. If June extends the decline off March's high, February's low crossing at 87.83 is the next downside target. First resistance is the 38% retracement level of the November-February-decline crossing at 90.35. Second resistance is the 50% retracement level of the November-February-decline crossing at 91.13. First support is last Wednesday's low crossing at 88.91. Second support is February's low crossing at 87.83.
The June Euro 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 have turned neutral to bearish signaling that sideways to lower prices are possible near-term. If June renews the decline off February's high, the 50% retracement of the November-February-rally crossing at 121.97. If June extends the rally off the March 1st low, February's high crossing at 126.58 is the next upside target. First resistance is last Wednesday's high crossing at 125.47. Second resistance is February's high crossing at 126.58. First support is the March 1st low crossing at 122.54. Second support is the 50% retracement level of the November-February-rally crossing at 121.97.
The June British Pound closed slightly higher 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 neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off March's low, the reaction high crossing at 1.4207 is the next upside target. If June renews the decline off January's high, the 62% retracement level of the November-January-rally crossing at 1.3628 is the next downside target. First resistance is the reaction high crossing at 1.4207. Second resistance is February's high crossing at 1.4404. First support is March's low crossing at 1.3779. Second support is the 62% retracement level of the November-January-rally crossing at 1.3628.
The June Swiss Franc closed lower on Friday as it extends the decline off February'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 June extends the decline off February's high, the 62% retracement level of the November-February-rally crossing at 1.0458 is the next downside target. Closes above the 20-day moving average crossing at 1.0713 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 1.0713. Second resistance is February's high crossing at 1.0986. First support is the 50% retracement level of the November-February-rally crossing at 1.0559. Second support is the 62% retracement level of the November-February-rally crossing at 1.0458.
The June Canadian Dollar closed lower on Friday as it extends the decline off January's high. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June 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 78.10 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 78.10. Second resistance is the reaction high crossing at 78.26. First support is today's low crossing at 76.48. Second support is weekly support crossing at 76.04.
The June Japanese Yen closed higher on Friday. The mid-range close sets the stage for a steady to higher opening when Monday’s night session begins trading. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. If June renews the rally off January's low, the 62% retracement level of 2016's trading range crossing at 0.9732 is the next upside target. Closes below Tuesday's low crossing at 0.9382 are needed to confirm that a short-term top has been posted. First resistance is the 50% retracement level of 2016's trading range crossing at 0.9542. Second resistance is the 62% retracement level of 2016's trading range crossing at 0.9732. First support is Tuesday's low crossing at 0.9382. Second support is the reaction low crossing at 0.9343.
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April gold 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 have turned neutral to bearish signaling that sideways to lower prices are possible near-term. 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. Closes above the reaction high crossing at 1342.90 are needed to confirm that a short-term low has been posted. First resistance is the reaction high crossing at 1342.90. Second resistance is February's high crossing at 1364.40. 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 lower on Friday. The low-range close set the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below March's low crossing at 16.160 would confirm a downside breakout of the February-March trading range. Closes above the reaction high crossing at 17.025 are needed to confirm an upside breakout of the February-March trading range. First resistance is the reaction high crossing at 17.025. Second resistance is January's high crossing at 17.785. First support is March's low crossing at 16.160. Second support is December's low crossing at 15.705.
May copper closed lower on Friday.The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If May renews 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 319.02 are needed to confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 319.02. Second resistance is February's high crossing at 329.05. First support is last Friday's low crossing at 305.55. Second support is February's low crossing at 304.65.
GRAINS? http://quotes.ino.com/ex?changes/?c=grains "
May Corn closed down 4-cents at 3.82 3/4.
May corn closed lower on Friday and below the 20-day moving average crossing at 3.83 1/4 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 neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends this week's decline the 38% retracement level of this year's rally crossing at 3.79 1/2 is the next downside target. If May resumes the rally off January's low, the 62% retracement level of 2017's decline crossing at 4.01 is the next upside target. First resistance is Tuesday's high crossing at 3.95 1/4. Second resistance is the 62% retracement level of the July-January-decline crossing at 4.01. First support is the 38% retracement level of this year's rally crossing at 3.79 1/2. Second support is the 50% retracement level of this year's rally crossing at 3.74 1/2.
May wheat closed down 10 1/2-cents at 4.68 1/4.
May wheat closed lower on Friday as it extends 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 neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends the decline off March's high, the 50-day moving average crossing at 4.65 3/4 is the next downside target. Closes above the 10-day moving average crossing at 4.91 1/2 would confirm that a short-term low has been posted. 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 50-day moving average crossing at 4.65 3/4. Second support is the reaction low crossing at 4.57.
May Kansas City Wheat closed down 14-cents at 4.99 1/2.
May Kansas City wheat closed lower on Friday and below the 20-day moving average crossing at 5.14 1/4 confirming that a short-term top has been posted. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends this month's decline, the 50-day moving average crossing at 4.84 1/4 is the next downside target. If May renews 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 50-day moving average crossing at 4.84 1/4. Second support is the reaction low crossing at 4.75 3/4.
May Minneapolis wheat closed down 3 3/4-cents at 6.11 3/4.
May Minneapolis wheat closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. 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 renews 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 up 7-cents at 10.47 3/4.
May soybeans closed higher on Friday as it consolidates some of this month's decline.The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends this month's decline, the 50% retracement level of the January-March-rally crossing at 10.19 is the next downside target. Closes above the 10-day moving average crossing at 10.52 1/4 would confirm that a short-term low has been posted. First resistance is March's high crossing at 10.82 1/2. Second resistance is weekly resistance crossing at 10.91 1/2. First support is the the 50% retracement level of the January-March-rally crossing at 10.19. Second support is the 62% retracement level of the January-March-rally crossing at 10.04.
May soybean meal closed up $1.50 at 372.50.
May soybean meal 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends this month's decline, the 50% retracement level of the January-March-rally crossing at 359.00 is the next downside target. Closes above the 20-day moving average crossing at 381.30 would temper the near-term bearish outlook. First resistance is March's high crossing at 404.00. Second resistance is weekly resistance crossing at 414.70. First support is the 38% retracement level of the January-March-rally crossing at 369.60. Second support is the 50% retracement level of the January-March-rally crossing at 359.00.
May soybean oil closed up 6 pts. At 32.12.
May soybean oil closed higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that a low might be in or is near. Closes above the 50-day moving average crossing at 32.58 are needed to confirm that a short-term low has been posted. If May resumes the decline off January's high, the July-2016 low crossing at 31.37 is the next downside target. First resistance is the late-February high crossing at 32.96. Second resistance is February's high crossing at 33.50. First support is last Friday's low crossing at 31.43. Second support is the July-2016 low crossing at 31.37.
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April hogs closed down $0.28 at $65.45.
April hogs closed lower on Friday as it extends this year's decline. The low-range close sets the stage for a steady to lower opening when Monday'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 decline off January's high, last August's low crossing at 65.03 is the next downside target. Closes above the 20-day moving average crossing at 68.29 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 68.29. Second resistance is the late-February high crossing at 71.95. First support is today's low crossing at 65.37. Second support is last-August low crossing at 65.03.
April cattle closed down $0.60 at 121.25.
April 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 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 123.62 are needed to confirm that a short-term low has been posted. If April extends the decline off February's high, January's low crossing at 118.05 is the next downside target. First resistance is February's high crossing at 127.95. Second resistance is November's high crossing at 130.10. First support is Tuesday's low crossing at 120.75. Second support is January's low crossing at 118.05.
April Feeder cattle closed down $0.62 at $140.20.
April Feeder cattle closed lower on Friday as it extends this year's decline. The low-range close sets the stage for a steady to lower opening when Monday'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, December's low crossing at 139.27 is the next downside target. Closes above the 20-day moving average crossing at 145.99 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 145.99. Second resistance is the reaction high crossing at 150.13. First support is today's low crossing at 139.60. Second support is December's low crossing at 139.27.
FOOD & FIBERhttp://quotes.ino.com/ex changes/?c=food
May coffee closed lower on Friday as it posted a new low for the year. The mid-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends 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 123.46 are needed to confirm that a low has been posted.
May 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 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 23.45 would confirm that a short-term top has been posted.
May sugar closed lower on Friday. The low-range close set the stage for a steady to lower opening on Monday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends this year's decline, weekly support crossing at 12.45 is the next downside target. Closes above the 20-day moving average crossing at 13.15 are needed to confirm that a low has been posted.
May cotton closed lower on Friday. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at 80.77 are needed to confirm that a short-term top has been posted. If May renews the rally off February's low, weekly resistance crossing at 87.18 is the next upside target.