INO Evening Market Comments
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Started by tallpine - Aug. 10, 2018, 4:43 p.m.

KEY EVENTS TO WATCH FOR:



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)



Wednesday, August 15, 2018  



7:00 AM ET. MBA Weekly Mortgage Applications Survey



                       Composite Idx (previous 342.5)



                       Composite Idx, W/W% (previous -3.0%)



                       Purchase Idx-SA (previous 233.1)



                       Purchase Idx-SA, W/W% (previous -2.0%)



                       Refinance Idx (previous 927.6)



                       Refinance Idx, W/W% (previous -4.5%)



8:30 AM ET. 2nd Quarter Preliminary Productivity & Costs



                       Non-Farm Productivity, Q/Q% (previous +0.7%)



                       Unit Labor Costs (previous +2.7%)



8:30 AM ET. July Advance Monthly Sales for Retail & Food Services



                       Overall Sales-SA, M/M% (previous +0.5%)



                       Sales, Ex-Auto, M/M% (previous +0.4%)



                       Sales, Ex-Auto & Gas, M/M% (previous +0.3%)



8:30 AM ET. August Empire State Manufacturing Survey



                       Mfg Idx (previous 22.6)



                       Employment Idx (previous 17.2)



                       New Orders Idx (previous 18.2)



                       Prices Received (previous 22.2)



9:15 AM ET. July Industrial Production & Capacity Utilization



                       Industrial Production, M/M% (previous +0.6%)



                       Capacity Utilization % (previous 78.0%)



                       Capacity Utilization, Net Chg (Pts) (previous +0.3)



10:00 AM ET. June Manufacturing & Trade: Inventories & Sales



                       Total Inventories (previous +0.4%)



10:00 AM ET. August NAHB Housing Market Index



                       Housing Mkt Idx (previous 68)



10:30 AM ET. EIA Weekly Petroleum Status Report



                       Crude Oil Stocks (Bbl) (previous 407.389M)



                       Crude Oil Stocks, Net Chg (Bbl) (previous -1.351M)



                       Gasoline Stocks (Bbl) (previous 233.868M)



                       Gasoline Stocks, Net Chg (Bbl) (previous +2.9M)



                       Distillate Stocks (Bbl) (previous 125.423M)



                       Distillate Stocks, Net Chg (Bbl) (previous +1.23M)



                       Refinery Usage (previous 96.6%)



                       Total Prod Supplied (Bbl/day) (previous 20.928M)



                       Total Prod Supplied, Net Chg (Bbl/day) (previous +0.358M)

                       

4:00 AM ET. June Treasury International Capital Data



Thursday, August 16, 2018 



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



                       Jobless Claims (previous 213K)



                       Jobless Claims, Net Chg (previous -6K)



                       Continuing Claims (previous 1755000)



                       Continuing Claims, Net Chg (previous +29K)



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



                       Corn (Metric Tons) (previous 1212.2K)



                       Soybeans (Metric Tons) (previous 954.3K)



                       Wheat (Metric Tons) (previous 317.1K)



8:30 AM ET. August Philadelphia Fed Business Outlook Survey



                       Business Activity (previous 25.7)



                       Prices Paid (previous 62.9)



                       Employment (previous 16.8)



                       New Orders (previous 31.4)



                       Prices Received (previous 36.3)



                       Delivery Times (previous 11.0)



                       Inventories (previous 14.4)



                       Shipments (previous 24.7)



8:30 AM ET. July New Residential Construction - Housing Starts and Building Permits



                       Total Starts (previous 1.173M)



                       Housing Starts, M/M% (previous -12.3%)



                       Building Permits (previous 1.273M)



                       Building Permits, M/M% (previous -2.2%)



9:45 AM ET. Bloomberg Consumer Comfort Index



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



                       Working Gas In Storage (Cbf) (previous 2354B)



                       Working Gas In Storage, Net Chg (Cbf) (previous +46B)

                       

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 17, 2018  



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



10:00 AM ET. August University of Michigan Survey of Consumers – preliminary



                       Mid-Mo Sentiment (previous 97.1)



                       Mid-Mo Expectations (previous 86.4)



                       Mid-Mo Current Idx (previous 113.9)



10:00 AM ET. 2nd Quarter Advance Quarterly Services



10:00 AM ET. July Leading Indicators



                       Leading Index, M/M% (previous +0.5%)



                       Leading Index (previous 109.8)



                       Coincident Index, M/M% (previous +0.3%)



                       Lagging Index, M/M% (previous +0.3%)



10:00 AM ET. 2nd Quater Quarterly Retail E-Commerce Sales



  N/A              U.S: Hawaii Statehood Day


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



The September NASDAQ 100 closed sharply lower on Friday signaling a likely end to the rally off last-Monday's low. 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 with today's sharply decline signaling that a double top with July's high might have been posted with Thursday's high. Closes below last-Monday's low crossing at 7166.75 would confirm that a short-term top has been posted. If September extends the aforementioned rally, July's high crossing at 7530.00 is the next upside target. First resistance is July's high crossing at 7530.00. Second resistance is unknown. 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 gapped down and closed sharply lower on Friday triggered by currency concern in Turkey. 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 signaling that a short-term top might be in or is near. Closes below last-Thursday's low crossing at 2791.90 are needed to confirm that a short-term low has been posted. If September extends this summer's rally, January's high crossing at 2885.00 is the next upside target. First resistance is Tuesday's high crossing at 2863.00. Second resistance is January's high crossing at 2885.00. First support is last-Thursday's low crossing at 2791.90. Second support is the 50-day moving average crossing at 2786.82.  



The Dow gapped down and closed sharply lower on Friday fueled by the mounting currency crisis in Turkey, which raised the alarm for possible contagion into other markets. Today's close below the 20-day moving average crossing at 25,325.04 confirms that a short-term top has been posted. The mid-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 the Dow extends this week's decline, the 50-day moving average crossing at 24,974.29 is the next downside target. If the Dow resumes the rally off June's low, February's high crossing at 25,800.35 is the next upside target. First resistance is February's high crossing at 25,800.35. Second resistance is January's high crossing at 26,616.71. First support is the reaction low crossing at 25,120.07. Second support is the 50-day moving average crossing at 24,974.29.      



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



September T-bonds closed up 1-02/32's at 144-11.



September T-bonds closed sharply higher on Friday and above the 50-day moving average crossing at 143-29 confirming that a short-term low has been posted. 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 September extends today's rally, July's high crossing at 146-11 is the next upside target. Closes below the 10-day moving average crossing at 142-31 would temper the near-term friendly outlook. First resistance is today's high crossing at 144-20. 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 closed up 160-points at 120-075.



September T-notes closed sharply higher on Friday as it extends the rally off August'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 September extends the rally off August's low, July's high crossing at 120.200 is the next upside target.  Closes below Wednesday's low crossing at 119.125 are needed to confirm that a short-term top has been posted. First resistance is July's high crossing at 120.200. Second resistance is May's high crossing at 121.030. First support is August's low crossing at 119025. Second support is June's low crossing at 118.295.       



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



September 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 neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends the decline off July's high, June's low crossing at 62.99 is the next downside target. Closes above the reaction high crossing at 69.92 would confirm that a low has been posted. First resistance is the reaction high crossing at 70.43. Second resistance is July's high crossing at 72.98.First support is today's low crossing at 66.14. Second support is June's low crossing at 62.99. 



September 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 bearish signaling that sideways to lower prices are possible near-term. If September extends this week's decline, July low crossing at 204.74 is the next downside target. Closes above the reaction high crossing at 218.57 are needed to confirm that a short-term low has been posted. First resistance is the reaction high crossing at 218.57. Second resistance is July's high crossing at 223.88. First support is last-Thursday's low crossing at 208.60. Second support is July's low crossing at 204.74.



September unleaded gas closed higher on Friday as it consolidates some of the decline off the late-July 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 are neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends the decline off the late-July high, July's low crossing at 197.15 is the next downside target. Closes above Tuesday's high crossing at 210.56 would confirm that a short-term low has been posted. First resistance is the late-July high crossing at 213.64. Second resistance is July's high crossing at 215.31. 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 closed slightly lower on Friday as it consolidated some of the rally off July's low. The high-range close sets the stage for a steady to higher opening when Tuesday'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 September extends the rally off July's low, the 87% retracement level of the June-July-decline crossing at 2.973 is the next upside target. Closes below the 20-day moving average crossing at 2.796 are needed to confirm that a short-term top has been posted. First resistance is Thursday's high crossing at 2.959. Second resistance is the 87% retracement level of the June-July-decline crossing at 2.973. First support is the 10-day moving average crossing at 2.859. Second support is the 20-day moving average crossing at 2.796.   



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



The September Dollar closed sharply higher on Friday and marked an upside breakout of the June-August 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 bullish signaling that sideways to higher prices are possible near-term. If September renews the rally off July's low, weekly resistance crossing at 97.70 is the next upside target. Closes below the 50-day moving average crossing at 94.34 would confirm that a short-term top has been posted. First resistance is today's high crossing at 96.31. Second resistance is weekly resistance crossing at 97.70. First support is the reaction low crossing at 93.87. Second support is July's low crossing at 93.44.    



The September Euro closed sharply lower on Friday as it marked a downside breakout of the May-July-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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends this month's decline, the 75% retracement level of the 2016-2018 rally crossing at 112.78 is the next downside target. Closes above the 50-day moving average crossing at 117.23 would confirm that a short-term low has been posted. First resistance is the reaction high crossing at 117.90. Second resistance is July's high crossing at 118.52. First support is today's low crossing at 114.17. Second support is the 75% retracement level of the 2016-2018 rally crossing at 112.78.    



The September British Pound closed lower on Friday as it extends the decline off April'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 bearish signaling that sideways to lower prices are possible near-term. If September extends the decline off April's high, the 87% retracement level of the 2016-2018-rally crossing at 1.2600 is the next downside target. Closes above the 20-day moving average crossing at 1.3075 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 1.3075. Second resistance is the 50-day moving average crossing at 1.3220. First support is today's low crossing at 127.40. Second support is the 87% retracement level of the 2016-2018-rally crossing at 1.2600. 



The September Swiss Franc closed slightly lower on Friday. 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 neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends the decline off last-Tuesday's high, 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 20016-2018-rally on the weekly continuation chart crossing at 0.8880.



The September Canadian Dollar closed lower on Friday and below the 50-day moving average crossing at 76.35 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 have turned neutral to bearish signaling that sideways to lower prices are possible near-term. 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 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 neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 0.9061 would open the door for additional gains and a possible test of the 38% retracement level of the March-July decline crossing at 0.9172. Closes below the 20-day moving average crossing at 0.8994 would renew the decline off March's high and open the door for a possible test of July's low crossing at 0.8867. First resistance is the 50-day moving average crossing at 0.9061. Second resistance is the 38% retracement level of the March-July decline crossing at 0.9172. 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 ""



October gold closed lower on Friday. 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 bullish signaling that a pause in this summer's decline or a low might be in or is near. Closes above the 20-day moving average crossing at 1224.60 are needed to confirm that a short-term low has been posted. If October resumes the decline off April's high, the 87% retracement level of the 2016-2018 rally crossing at 1190.90 is the next downside target. First resistance is the 20-day moving average crossing at 1224.60. Second resistance is the 50-day moving average crossing at 1257.40.First support is last Friday's low crossing at 1207.40. Second support is the 87% retracement level of the 2016-2018 rally crossing at 1190.90.



September silver closed lower on Friday as it extends the trading range of the past four-weeks. 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 turning neutral to bearish signaling that sideways to lower prices are possible near-term. If September renews the decline off June's high, weekly support crossing at 15.145 is the next downside target. Closes above the reaction high crossing at 15.700 are needed to confirm that a short-term low has been posted. First resistance is the reaction high crossing at 15.700. Second resistance is the 50-day moving average crossing at 16.034. First support is July's low crossing at 15.185. Second support is weekly support crossing at 15.145.        



September copper closed slightly 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 September resumes the decline off June's high, the 62% retracement level of the 2016-2018 rally crossing at 250.74 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 293.54.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 closed down 11 1/2-cents at 3.71 1/4. 



December corn closed sharply lower on Friday following today's bearish WASDE crop production report. Today's WASDE report showed that the USDA estimated this year's corn production at 14.586 billion bushels up 356 million bushels from their July estimate. The USDA's per-acre yield estimates was raised from July's 174.0 bpa to 178.4 bpa., a record if realized. The USDA raised ending corn stocks for 2018/19 by 132 million bushels to 1.684 billion bushels. World ending stocks for 2018/19 corn were also raised, from 152.0 million metric tons to 155.5 MMT. Today's close below the 20-day moving average crossing at 3.74 1/2 confirms 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 have turned bearish signaling that sideways to lower prices are possible near-term. If December extends today's decline, the reaction low crossing at 3.65 1/4 is the next downside target. If December resumes 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. 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 reaction low crossing at 3.65 1/4. Second support is July's low crossing at 3.50 1/4.   



December wheat closed down 17 1/2-cents at 5.69. 



December wheat closed sharply lower on Friday following today's bearish WASDE report. Even though the USDA report came in with lower world stocks, the decline was not as much as expected. Spillover weakness from corn and soybeans provided additional selling pressure. The USDA estimate for 2018 projected that all U.S. wheat production came in slightly lower from its July estimates of 1.881 billion bushels to 1.877 billion 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 bearish signaling that signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 5.56 would confirm that a short-term top has been posted. If December resumes the rally off July's low, the July-2017 high crossing at 6.22 is the next upside target. 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 today's low crossing at 5.68 1/4. Second support is the 20-day moving average crossing at 5.564.        



December Kansas City Wheat closed down 19 1/4-cents at 5.85. 



December Kansas City wheat closed sharply lower on Friday due to spillover weakness from corn and soybeans. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are turning bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 5.65 3/4 would confirms that a short-term top has been posted. If December resumes the rally off July's low, the July-2017 high crossing at 6.42 is the next upside target. First resistance is Tuesday's high crossing at 6.26. Second resistance is the July-2017 high crossing at 6.42. First support is today's low crossing at 5.85 1/4. Second support is the 20-day moving average crossing at 5.65 3/4. 



December Minneapolis wheat closed down 21-cents at 6.26. 



December Minneapolis wheat closed sharply lower on Friday. The USDA projected winter wheat production at 1.189 billion bushels, down from July's estimate of 1.192 billion bushels. The low-range close sets the stage for a steady opening when Monday's night session begins trading. Stochastics and the RSI are overbought and are turning bearish signaling that sideways to lower prices are possible near-term. If today's decline continues, the 20-day moving average crossing at 6.03 1/4 is the next downside target. If December resumes the rally off July's low, May's high crossing at 6.60 1/2 is the next upside target. 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 today's low crossing at 6.23 3/4. Second support is the 20-day moving average crossing at 6.03 1/4.  



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



November soybeans closed down 43 1/4-cents at 8.60 3/4. 



November soybeans closed sharply lower on Friday following today's bearish WASDE supply-demand report. The USDA estimated the current U.S. soybean crop’s yield at 51.6 bpa, up significantly from its July estimates of 48.5 bushels per acre due to favorable crop conditions across the central U.S. during July and early-August. That the USDA estimated total soybean production at 4.586 billion bushels, up 276 million bushels from its July estimate.Ending stocks were raised by 205 million bushels to 785 million bushels. Worldwide 2018/19 soybean ending stocks also moved moderately higher, to 105.94 million metric tons. Today's close below the 20-day moving average crossing at 8.82 1/2 confirmed 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 have turned bearish signaling that sideways to lower prices are possible near-term. If November extends today's sharp decline, July's low crossing at 8.26 1/4 is the next downside target. 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 closed down $12.00 at 322.90. 



December soybean meal closed sharply 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. Today's close below the 20-day moving average crossing at 330.40 confirms that a short-term top has been posted. If December extends today's decline, July's low crossing at 321.50 is the next downside target. First resistance is the 38% retracement level of the May-July-decline crossing at 348.60. Second resistance is the 50% retracement level of the May-July-decline crossing at 356.90. First support is July's low crossing at 321.50. Second support is January's low crossing at 318.40. 



December soybean oil closed down 49-points. At 28.39. 



December soybean oil closed lower on Friday and below last-Thursday's low crossing at 28.39 confirming that a short-term top has been posted. Stochastics and the RSI have turned bearish signaling that sideways to lower prices are possible. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. If December extends today's decline, July's low crossing at 27.95 is the next downside target. If December extends the rally off July's low, the 50-day moving average crossing at 29.52 is the next upside target. First resistance is last-Tuesday's high crossing at 29.39. Second resistance is the 50-day moving average crossing at 29.52. First support is today's low crossing at 28.31. Second support is July's low crossing at 27.95. 

 

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



October hogs closed down $0.22 at $51.18. 



October hogs closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday's session begins trading. Stochastics and the RSI are turning bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 51.41 would confirm that a short-term low has been posted. If October extends the decline off June's high, weekly support crossing at 46.24 is the next downside target. First resistance is the 20-day moving average crossing at 51.41. Second resistance is the reaction high crossing at 55.98. First support is Thursday's low crossing at 47.82. Second support is weekly support crossing at 46.24.  



October cattle closed up $0.20 at 109.25. 



October cattle close 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 neutral to bearish signaling that a short-term top is in or near. Closes below the 50-day moving average crossing at 108.68 would confirm that a short-term top has been posted. If October resumes 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. 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.  

 

October Feeder cattle closed up $0.28 at $149.48. 



October Feeder cattle closed higher on Friday as it consolidated some of the decline off July's high. The high-range close sets the stage for a steady to higher opening when Monday's session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If October extends the decline off July's high, the 50% retracement level of the April-July-rally crossing at 146.35 is the next downside target. Closes above the 20-day moving average crossing at 152.39 would confirm that a short-term low has been posted. First resistance is Monday's high crossing at 153.45. Second resistance is July's high crossing at 155.38. First support is the 50% retracement level of the April-July-rally crossing at 146.35. Second support is the reaction low crossing at 145.42.    



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



September coffee closed lower on Friday. The mid-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 September resumes the decline off June's high, monthly support crossing at 10.56 is the next downside target. Closes above the reaction high crossing at 11.34 would confirm that a short-term low has been posted.       



September 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 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 22.08 are needed to confirm that a short-term low has been posted. 



October 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 neutral to bearish signaling that sideways to lower prices are possible near-term. If October resumes the decline off June's high, weekly support crossing at 10.13 is the next downside target. Multiple closes above Monday's high crossing at 11.13 are needed to confirm that a short-term low has been posted.  



October cotton closed sharply lower on Friday as it extended the decline off July'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 sideways to lower prices are possible near-term. If October extends decline off July's high, the reaction low crossing at 85.21 is the next downside target. Closes above the 10-day moving average crossing at 88.48 would confirm that a short-term low has been posted. 

Comments
By metmike - Aug. 10, 2018, 9:27 p.m.
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Thanks tallpine!