KEY EVENTS TO WATCH FOR:

Wednesday, August 8, 2018   

7:00 AM ET. MBA Weekly Mortgage Applications Survey

                       Composite Idx (previous 353.1)

                       Composite Idx, W/W% (previous -2.6%)

                       Purchase Idx-SA (previous 237.9)

                       Purchase Idx-SA, W/W% (previous -3.1%)

                       Refinance Idx (previous 971.3)

                       Refinance Idx, W/W% (previous -1.7%)

10:30 AM ET. EIA Weekly Petroleum Status Report

                       Crude Oil Stocks (Bbl) (previous 408.74M)

                       Crude Oil Stocks, Net Chg (Bbl) (previous +3.803M)

                       Gasoline Stocks (Bbl) (previous 230.968M)

                       Gasoline Stocks, Net Chg (Bbl) (previous -2.536M)

                       Distillate Stocks (Bbl) (previous 124.193M)

                       Distillate Stocks, Net Chg (Bbl) (previous +2.983M)

                       Refinery Usage (previous 96.1%)

                       Total Prod Supplied (Bbl/day) (previous 20.57M)

                       Total Prod Supplied, Net Chg (Bbl/day) (previous -1.13M)

Thursday, August 9, 2018   

8:30 AM ET. U.S. Weekly Export Sales

                       Corn (Metric Tons) (previous 672.9K)

                       Soybeans (Metric Tons) (previous 1020.4K)

                       Wheat (Metric Tons) (previous 440.1K)

8:30 AM ET. July PPI

                       PPI, M/M% (expected +0.2%; previous +0.3%)

                       Ex-Food & Energy PPI, M/M% (expected +0.2%; previous +0.3%)

                       Personal Consumption (previous +0.3%)

8:30 AM ET. Unemployment Insurance Weekly Claims Report - Initial Claims

                       Jobless Claims (expected 220K; previous 218K)

                       Jobless Claims, Net Chg (previous +1K)

                       Continuing Claims (previous 1724000)

                       Continuing Claims, Net Chg (previous -23K)

9:45 AM ET. Bloomberg Consumer Comfort Index

10:00 AM ET. June Monthly Wholesale Trade

                       Inventories, M/M% (expected +0.0%; previous +0.6%)

10:30 AM ET. EIA Weekly Natural Gas Storage Report

                       Working Gas In Storage (Cbf) (previous 2308B)

                       Working Gas In Storage, Net Chg (Cbf) (previous +35B)

12:00 PM ET. July Monthly U.S. Retail Chain Store Sales Index

2:00 PM ET. SEC Closed Meeting

4:30 PM ET. Federal Discount Window Borrowings

4:30 PM ET. Money Stock Measures

4:30 PM ET. Foreign Central Bank Holdings

Friday, August 10, 2018  

8:30 AM ET. July Real Earnings

8:30 AM ET. July CPI

                       CPI, M/M% (expected +0.2%; previous +0.1%)

                       Core CPI, M/M% (expected +0.2%; previous +0.2%)

                       Energy Idx, M/M% (previous -0.3%)

                       Food Idx, M/M% (previous +0.2%)

                       Real Avg Wkly Pay-Infla Adj, M/M% (previous +0.1%)

                       CPI, Y/Y% (expected +3.0%; previous +2.9%)

                       Core Annual, Y/Y% (expected +2.3%; previous +2.3%)

12:00 PM ET. World Agricultural Supply & Demand Estimates (WASDE)

                       Corn, End Stocks (Bushels)

                       Soybeans, End Stocks (Bushels)

                       Wheat, End Stocks (Bushels)

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

Monday, August 13, 2018  

  N/A               U.S: Victory Day in Rhode Island

Tuesday, August 14, 2018  

6:00 AM ET. July NFIB Index of Small Business Optimism

                       Small Business Idx (previous 107.2)

7:45 PM ET. The Retail Economist/Goldman Sachs Weekly Chain Store Sales Index

                       Chain Store Sales, W/W%

                       Chain Store Sales, M/M%

8:30 AM ET. July Import & Export Price Indexes

                       Import Prices (previous -0.4%)

                       Non-Petroleum Prices (previous -0.3%)

                       Petroleum Prices (previous -0.8%)

8:55 AM ET. Johnson Redbook Retail Sales Index

                       Ret Sales Mo-to-Date, M/M%

                       Ret Sales Mo-to-Date, Y/Y%

                       Latest Wk, Y/Y%

11:00 AM ET. Federal Reserve Bank of New York's Q2 Household Debt and Credit Report

4:30 PM ET. API Weekly Statistical Bulletin

                       Crude Stocks, Net Chg (Bbls)

                       Gasoline Stocks, Net Chg (Bbls)

                       Distillate Stocks, Net Chg (Bbls)

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

The STOCK INDEXES:The September NASDAQ 100 was steady to slightly higher overnight as it extends the rally off last-Monday's low. However, the index is likely to struggle to post additional gains as investors deal with a fresh round of tariffs imposed on China by the Trump administration.Equities over recent sessions had remained mostly buoyant on the back of strong corporate quarterly results and economic data that underlined a healthy economy in its ninth year of expansion. Stochastics and the RSI are becoming overbought but remain bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off last-Monday's low, July's high crossing at 7530.00 is the next upside target. Closes below last-Monday's low crossing at 7166.75 would confirm a short-term top has been posted while opening the door for additional weakness near-term. First resistance is July's high crossing at 7530.00. Second resistance isunknown. First support is last-Monday's low crossing at 7166.75. Second support is June's low crossing at 6956.00.    

The September S&P 500 was steady to slightly higher overnight as it extends the rally off last-Thursday's low. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off June's low, January's high crossing at 2885.30 is the next upside target. Closes below last-Thursday's low crossing at 2791.90 would confirm that a short-term top has been posted. First resistance is Tuesday's high crossing at 2863.00. Second resistance is January's high crossing at 2885.30. First support is the 20-day moving average crossing at 2822.12. Second support is the 50-day moving average crossing at 2782.11.      

INTEREST RATES http://quotes.ino.com/ex changes/?c=interest"

INTEREST RATES: September T-bonds were steady to slightly higher overnight. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes above the 20-day moving average crossing at 143-19 would confirm that a short-term low has been posted. If September extends the decline off July's high, May's low crossing at 139-11 is the next downside target. First resistance is the 20-day moving average crossing at 143-19. Second resistance is July's high crossing at 146-11. First support is last-Wednesday's low crossing at 141-27. Second support is May's low crossing at 139-11.  

September T-notes were steady to slightly higher overnight. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes above the 50-day moving average crossing at 119.256 would confirm that a short-term low has been posted. If September resumes the decline off July's high, June's low crossing at 118.295 is the next downside target. First resistance is the 50-day moving average crossing at 119.256. Second resistance is July's high crossing at 120.200. First support is June's low crossing at 118.295. Second support is May's low crossing at 117.300.    

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

ENERGY MARKETS: SeptemberNymex crude oil was lower overnight while extending the trading range of the past three-weeks. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If September renews the rally off July's low, July's high crossing at 72.98 is the next upside target. If September resumes the decline off July's high, June's low crossing at 62.99 is the next downside target.First resistance is last-Monday's high crossing at 70.43. Second resistance is July's high crossing at 72.98. First support is July's low crossing at 66.29. Second support is June's low crossing at 62.99.    

September heating oil was slightly lower overnight. 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 218.57 would renew the rally off July's low. Closes below last-Thursday's low would open the door for additional weakness and a possible test of July's low crossing at 204.74. First resistance is July's high crossing at 223.88. Second resistance is May's high crossing at 229.73. First support is the 50% retracement level of the February-May-rally crossing at 205.59. Second support is the 62% retracement level of the February-May-rally crossing at 199.85.

September unleaded gas was lower overnight. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off last-Thursday's low, the reaction high crossing at 213.64 is the next upside target. If September resumes the decline off the late-July high, July's low crossing at 197.15 is the next downside target. First resistance is July's high crossing at 215.31. Second resistance is the reaction high crossing at 217.41. First support is the 62% retracement level of the February-May-rally crossing at 196.03. Second support is the 75% retracement level of the February-May-rally crossing at 189.92.

September Henry natural gas was slightly higher overnight as it extends the rally off July's low.Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off July's low, the 75% retracement level of the June-July-decline crossing at 2.931 is the next upside target. Closes below last Thursday's low crossing at 2.740 would confirm a short-term top has been posted. First resistance is the overnight high crossing at 2.900. Second resistance is the 75% retracement level of the June-July-decline crossing at 2.931. First support is the 10-day moving average crossing at 2.818. Second support is the 20-day moving average crossing at 2.774.  

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

CURRENCIES:The September Dollar was higher overnight while extending the May-July trading range. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off the late-July low, July's high crossing at 95.44 is the next upside target. Closes below the reaction low crossing at 93.87 would open the door for a larger-degree decline into early-August. From a broad perspective, closes above July's high crossing at 95.44 or below June's low crossing at 92.76 are needed to confirm a breakout of the aforementioned trading range and point the direction of the next trending move. First resistance is July's high crossing at 95.44. Second resistance is weekly resistance crossing at 97.70. First support is July's low crossing at 99.44. Second support is June's low crossing at 92.76.  

The September Euro was steady to slightly lower overnight while extending the May-July trading range. Stochastics and the RSI are oversold but are turning neutral to bullish signaling that a low might be in or is near. Closes above the reaction high crossing at 117.90 would confirm that a short-term low has been posted. If September extends the decline off last-Tuesday's high, the 62% retracement level of the 2016-2018 rally crossing at 115.36 is the next downside target. From a broad perspective, closes above June's high crossing at 119.40 or below June's low crossing at 115.82 are needed to confirm a breakout of the aforementioned trading range and point the direction of the next trending move. First resistance is July's high crossing at 118.52. Second resistance is June's high crossing at 119.40. First support is Monday's low crossing at 115.64. Second support is the 62% retracement level of the 2016-2018 rally crossing at 115.36. 

The September British Pound was lower overnight as it extends the decline off April's high. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If September resumes the decline off July's high, is the 75% retracement level of the 2016-2018-rally crossing at 1.2862 is the next downside target. Closes above the 50-day moving average crossing at 1.3242 are needed to confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 1.3242. Second resistance is July's high crossing at 1.3403. First support is the overnight low crossing at 1.2879. Second support is is the 75% retracement level of the 2016-2018-rally crossing at 1.2862.  

The September Swiss Franc was steady to slightly lower overnight. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends the decline off last-Tuesday's, July's low crossing at 0.9984 is the next downside target. Closes above last-Tuesday's high crossing at 1.0174 would confirm that a short-term low has been posted. First resistance is July's high crossing at 1.0204. Second resistance is June's high crossing at 1.0302. First support is July's low crossing at 0.9984. Second support is the 62% retracement level of the 2016-2018-rally on the weekly continuation chart crossing at 0.8880. 

The September Canadian Dollar was lower overnight. Stochastics and the RSI are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 76.41 would confirm that a short-term top has been posted. If September resumes the rally off June's low, June's high crossing at 77.94 is the next upside target. First resistance is the reaction high crossing at 77.36. Second resistance is June's high crossing at 77.94. First support is July's low crossing at 75.31. Second support is June's low crossing at 74.80.  

The September Japanese Yen was higher overnight. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If September resumes the rally off July's low, the 50-day moving average crossing at 0.9070 is the next upside target. Closes below last-Thursday's low crossing at 0.8943 would confirm that a short-term top has been posted. First resistance is the 50-day moving average crossing at 0.9070. Second resistance is the reaction high crossing at 0.9198. First support is July's low crossing at 0.8867. Second support is the December-2016 low crossing at 0.8805. 

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

PRECIOUS METALS: October gold was steady to slightly higher overnight. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If October extends the decline off April's high, the 87% retracement of the 2016-2018 rally crossing at 1190.90 is the next downside target. Closes above the 20-day moving average crossing at 1227.90 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 1227.90. Second resistance is the 50-day moving average crossing at 1261.20. First support is last-Friday's low crossing at 1207.40. Second support is the 87% retracement of the 2016-2018 rally crossing at 1190.90.

September silver was steady to slightly lower overnight while extending the trading range of the past three-weeks. Stochastics and the RSI are neutral signaling that sideways trading is possible near-term. Closes above the reaction high crossing at 15.700 are needed to confirm that a short-term low has been posted. If September resumes the decline off June's high, the July-2017 low on the weekly continuation chart crossing at 15.145 is the next downside target. First resistance is the reaction high crossing at 15.700. Second resistance is the 50-day moving average crossing at 16.080. First support is July's low crossing at 15.185. Second support is the July-2017 low on the weekly continuation chart crossing at 15.145. 

September copper was lower overnight. The low-range trade sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends the decline off May's high, July's low crossing at 267.35 is the next downside target. Closes above the reaction high crossing at 286.70 are needed to confirm that a short-term low has been posted. First resistance is the reaction high crossing at 286.70. Second resistance is the 50-day moving average crossing at 294.85. First support is July's low crossing at 267.35. Second support is the 62% retracement level of the 2016-2018 rally crossing at 250.74.

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

December corn was higher overnight as it extends the rally off July's low. The high-range overnight trade sets the stage for a steady to higher opening when the day 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 July's low, the 50% retracement level of the May-July-decline crossing at 3.89 3/4 is the next upside target. Closes below the 20-day moving average crossing at 3.72 1/2 are needed to confirm that a short-term top has been posted. First resistance is the 50% retracement level of the May-July-decline crossing at 3.89 3/4. Second resistance is the 62% retracement level of the May-July-decline crossing at 3.99. First support is the 10-day moving average crossing at 3.82. Second support is the 20-day moving average crossing at 3.72 1/2.  

December wheat was higher overnight. The mid-range close sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off July's low, the July-2017 high crossing at 6.22 is the next upside target. Closes below the 20-day moving average crossing at 5.49 are needed to confirm that a short-term top has been posted. First resistance is last-Thursday's high crossing at 6.13. Second resistance is the July-2017 high crossing at 6.22. First support is the 10-day moving average crossing at 5.76 3/4. Second support is the 20-day moving average crossing at 5.49.        

December Kansas City Wheat closed down 6 3/4-cents at 6.07 1/4. 

December Kansas City wheat closed lower on Tuesday. The low-range close sets the stage for a steady to lower 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 July's low, the July-2017 high crossing at 6.42 is the next upside target. Closes below the 20-day moving average crossing at 5.51 3/4 would confirms that a short-term top has been posted.First resistance is last-Thursday's high crossing at 6.24 1/4. Second resistance is the July-2017 high crossing at 6.42. First support is 10-day moving average crossing at 5.85. Second support is the 20-day moving average crossing at 5.51 3/4. 

December Minneapolis wheat was higher overnight as it extends the rally off July's low. The high-range overnight trade sets the stage for a steady to higher opening when the day 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 July's low, May's high crossing at 6.60 1/2 is the next upside target. Closes below the 20-day moving average crossing at 5.94 1/2 are needed to confirm that a short-term top has been posted. First resistance is Tuesday's high crossing at 6.56. Second resistance is May's high crossing at 6.60 1/2. First support is the 10-day moving average crossing at 6.26 3/4. Second support is the 20-day moving average crossing at 5.94 1/2.  

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

November soybeans was higher overnight. The high-range overnight trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If November extends the rally off July's low, the 50% retracement level of the May-July-decline crossing at 9.42 3/4 is the next upside target. Closes below the 20-day moving average crossing at 8.75 1/4 would confirm that a short-term top has been posted. First resistance is the 38% retracement level of the May-July-decline crossing at 9.15. Second resistance is the 50% retracement level of the May-July decline crossing at 9.42 3/4. First support is the reaction low crossing at 8.57. Second support is July's low crossing at 8.26 1/4.

December soybean meal was higher overnight. The high-range overnight trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If December resumes the rally off July's low, the 38% retracement level of the May-July-decline crossing at 348.60 is the next upside target. Closes below the 20-day moving average crossing at 329.90 would confirm that a short-term top has been posted. First resistance is the 50-day moving average crossing at 339.20. Second resistance is the 38% retracement level of the May-July-decline crossing at 348.60. First support is the 20-day moving average crossing at 329.90. Second support is July's low crossing at 321.50. 

December soybean oil was higher overnight. The high-range overnight trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If December resumes the rally off July's low, the 50-day moving average crossing at 29.67 is the next upside target. Closes below last-Thursday's low crossing at 28.39 are needed to confirm that a short-term top has been posted. First resistance is the 50-day moving average crossing at 29.67. Second resistance is the reaction high crossing at 31.29. First support is July's low crossing at 29.78. Second support is the August-2015 low on the monthly continuation chart crossing at 25.47.

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

October hogs closed down $0.25 at $49.97. 

October hogs closed lower on Tuesday. The low-range close sets the stage for a steady to lower opening when Wednesday'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 October extends the decline off June's high, weekly support crossing at 46.24 is the next downside target. Closes above the 20-day moving average crossing at 51.92 would confirm that a short-term low has been posted. First resistance is the reaction high crossing at 55.98. Second resistance is the 50-day moving average crossing at 57.91. First support is last-Friday's low crossing at 49.35. Second support is weekly support crossing at 46.24.  

October cattle closed down $0.63 at 110.93. 

October cattle close lower on Monday. 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 neutral to bullish signaling that sideways to higher prices are possible near-term. If October extends the rally off July's low, the 75% retracement level of the February-May-decline high crossing at 113.33 is the next upside target. Closes below the 50-day moving average crossing at 108.49 would confirm that a short-term top has been posted. First resistance is the reaction high crossing at 112.25. Second resistance is the 75% retracement level of the February-May-decline crossing at 113.33. First support is the reaction low crossing at 108.18. Second support is July's low crossing at 105.48.  

August Feeder cattle closed down $2.00 at $149.85. 

August Feeder cattle closed lower on Tuesday. The mid-range close sets the stage for a steady to lower opening when Wednesday's session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at 149.60 would open the door for additional weakness near-term. If August renews the rally off May's low, is February's high crossing at 155.98 is the next upside target. First resistance is July's high crossing at 154.93. Second resistance is February's high crossing at 155.98. First support is the 50-day moving average crossing at 149.60. Second support is July's low crossing at 147.82.    

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

September coffee closed higher on Tuesday. The mid-range close sets the stage for a steady to higher opening on Wednesday. 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 11.34 would confirm that a short-term low has been posted. If September resumes the decline off June's high, monthly support crossing at 10.56 is the next downside target.      

September cocoa closed lower on Tuesday. The mid-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 sideways to lower prices are possible near-term. If September extends this summer's decline, the 87% retracement level of the December-April-rally crossing at 19.86 is the next downside target. Closes above the 20-day moving average crossing at 22.68 are needed to confirm that a short-term low has been posted.

October sugar closed lower on Tuesday. The low-range close set the stage for a steady to lower opening on Wednesday. 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 10.96 would confirm that a short-term low has been posted. If October extends the decline off June's high, weekly support crossing at 10.13 is the next downside target. 

October cotton closed lower on Tuesday. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If October extends decline off July's high, the reaction low crossing at 86.90 is the next downside target. If October renews the rally off July's low, the 75% retracement level of the June-July decline crossing at 92.48 is the next upside target.