KEY EVENTS TO WATCH FOR:

Friday, August 31, 2018 

9:45 AM ET. August ISM-Chicago Business Survey - Chicago PMI

                       PMI-Adj (expected 63.0; previous 65.5)

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

                       End-Mo Sentiment Idx (expected 95.2; previous 97.9)

                       End-Mo Expectations Idx (previous 87.3)

                       12-Month Inflation Forecast (previous 2.9%)

                       5-Year Inflation Forecast (previous 2.4%)

                       End-Mo Current Idx (previous 114.4)

Monday, September 3, 2018  

  N/A              U.S. Labor Day. Financial markets closed

  N/A              Marianas: Labour Day

Tuesday, September 4, 2018

9:45 AM ET. August US Manufacturing PMI

                       PMI, Mfg (previous 55.3)

10:00 AM ET. July Construction Spending - Construction Put in Place

                       New Construction (previous -1.1%)

                       Residential Construction

10:00 AM ET. September IBD/TIPP Economic Optimism Index

                       Economic Optimism Idx (previous 58.0)

                       6-Mo Economic Outlook (previous 56.8)

10:00 AM ET. August ISM Manufacturing Report on Business

                       Manufacturing PMI (previous 58.1)

                       Prices Idx (previous 73.2)

                       Employment Idx (previous 56.5)

                       Inventories (previous 53.3)

                       New Orders Idx (previous 60.2)

                       Production Idx (previous 58.5)

11:00 AM ET. August Global Manufacturing PMI

                       PMI, Mfg (previous 52.7)

4:00 PM ET. August Domestic Auto Industry Sales

                       Auto Sales Annualized (previous 16.77M)

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

The September NASDAQ 100 closed lower on Thursday. U.S. stock indexes retreated today after four straight days of gains, with buying appetite waning somewhat ahead of a three-day holiday weekend and after a series of repeated records. Markets will be closed on Monday for the Labor-Day holiday and trading volume is expected to be light, as is typical for the final week of August.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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. Closes below the 20-day moving average crossing at 7465.29 are needed to confirm that a short-term top has been posted. If September extends the aforementioned rally into uncharted territory upside targets will be hard to project. Closes below the 20-day moving average crossing at 7465.29 are needed to confirm that a short-term top has been posted. First resistance is today's high crossing at 7697.00. Second resistance is unknown. First support is the 20-day moving average crossing at 7465.29. Second support is the 50-day moving average crossing at 7344.86. 

The September S&P 500 closed lower due to profit taking on Thursday as it consolidates some of the rally off April's low. 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 overbought but remain bullish signaling that sideways to higher prices are possible near-term. If September extends this summer's rally into uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average low crossing at 2860.02 are needed to confirm that a short-term top has been posted. First resistance is Wednesday's high crossing at 2915.80. Second resistance is unknown. First support is the 20-day moving average crossing at 2860.02. Second support is the 50-day moving average crossing at 2812.67.  

The Dow closed lower due to profit taking on Thursday as it consolidates some of the rally off June's low. 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If the Dow extends the rally off April's low, January's high crossing at 26,616.71 is the next upside target. Closes below the 20-day moving average crossing at 25,640.91 would confirm that an important top has been posted. First resistance is the 87% retracement level of the January-April-decline crossing at 26,183.49. Second resistance is January's high crossing at 26,616.71. First support is the 20-day moving average crossing at 25,640.91. Second support is the 50-day moving average crossing at 25,164.16.      

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September T-bonds closed up 9/32's at 144-25.

September T-bonds 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 144-13 would confirm that a short-term top has been posted. If September renews the rally off August's low, July's high crossing at 146-11 is the next upside target. First resistance is Monday's high crossing at 145-29. Second resistance is July's high crossing at 146-11. First support is the 20-day moving average crossing at 144-13. Second support is August's low crossing at 141-27.        

September T-notes closed up 55-points at 120-085.

September 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 neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at 120.008 are needed to confirm that a short-term top has been posted. If September renews the rally off August's low, May's high crossing at 121.030 is the next upside target. First resistance is August's high crossing at 120.240. Second resistance is May's high crossing at 121.030. First support is the 50-day moving average crossing at 120.008. Second support is the reaction low crossing at 119.125.        

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

October crude oil closed higher on Thursday as it extends the rally off August's low. The high-range close sets the stage for a steady to higher opening when Friday's night session begins. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If October extends the rally off August's low, June's high crossing at 71.29 is the next upside target. Closes below the 20-day moving average crossing at 67.15 would confirm that a short-term top has been posted. First resistance is today's high crossing at 70.50. Second resistance is June's high crossing at 71.29. First support is August's low crossing at 63.89. Second support is June's low crossing at 62.60. 

October heating oil closed slightly lower on Thursday as it consolidates some of the rally off August's low. The low-range close sets the stage for a steady to higher opening when Friday's night trading session begins. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If October extends the aforementioned rally, May's high crossing at 229.92 is the next upside target. Closes below the 50-day moving average crossing at 215.33 would confirm that a short-term top has been posted. First resistance is today's high crossing at 226.47. Second resistance is May's high crossing at 229.92. First support is August's low crossing at 208.05. Second support is July's low crossing at 205.41.

October unleaded gas closed slightly higher on Thursday as it extends the rally off August's low. 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If October extends the rally off August's low, July's high crossing at 204.04 is the next upside target. Closes below the 20-day moving average crossing at 193.83 would temper the near-term friendly outlook. First resistance is the late-July high crossing at 201.57. Second resistance is July's high crossing at 204.04. First support is August's low crossing at 186.62. Second support is July's low crossing at 185.93.

October Henry natural gas closed higher on Thursday as it consolidates some of the decline off August's high.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 a short-term top might be in or is near. Closes above the 20-day moving average crossing at 2.918 would confirm that a short-term low has been posted. If October extends the decline off August's high, August's low crossing at 2.751 is the next downside target. First resistance is the 87% retracement level of the June-July-decline crossing at 2.982. Second resistance is June's high crossing at 3.025 is the next upside target. First support is Wednesday's low crossing at 2.830. Second support is August's low crossing at 2.751.    

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

The September 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends the aforementioned decline, the late-July low crossing at 93.87 is the next downside target. Closes above the 20-day moving average crossing at 95.43 would temper the near-term bearish outlook. First resistance is August's high crossing at 96.87. Second resistance is weekly resistance crossing at 97.70. First support is Tuesday's low crossing at 94.34. Second support is the late-July low crossing at 93.87.    

The September Euro closed lower on Thursday as it consolidated some of the rally off August's low. 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off August's low, the reaction high crossing at 118.05 is the next upside target. Closes below the 20-day moving average crossing at 115.61 would signal that a short-term top has been posted. First resistance is the reaction high crossing at 118.05. Second resistance is July's high crossing at 118.51. First support is August's low crossing at 113.27. Second support is the 75% retracement level of the 2016-2018 rally crossing at 112.78.    

The September British Pound closed lower on Thursday as it consolidates some of the rally off August's low. 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 becoming overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 1.3070 would open the door for additional gains and possible test of the reaction high crossing at 1.3240. If September resumes the decline off April's high, the 87% retracement level of the 2016-2018-rally crossing at 1.2600 is the next downside target. First resistance is the 50-day moving average crossing at 1.3070. Second resistance is the reaction high crossing at 1.3240. First support is August's low crossing at 1.2678. Second support is the 87% retracement level of the 2016-2018-rally crossing at 1.2600. 

The September Swiss Franc closed higher on Thursday as it extends the rally off July's low. 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 September extends the rally off August's low, the 38% retracement level of the February-July-decline crossing at 1.0383 is the next upside target. Closes below the 50-day moving average crossing at 1.0127 would confirm that a short-term top has been posted. First resistance is today's high crossing at 1.0336. Second resistance is the 38% retracement level of the February-July-decline crossing at 1.0383. First support is August's low crossing at 1.0042. Second support is July's low crossing at 0.9984. 

The September 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 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, June's high crossing at 77.94 is the next upside target. Closes below the 50-day moving average crossing at 76.34 would confirm that a short-term top has been posted. First resistance is Tuesday's high crossing at 77.63. Second resistance is June's high crossing at 77.94. First support is August's low crossing at 75.93. Second support is July's low crossing at 75.31.   

The September Japanese Yen closed higher due to short covering on Thursday as it consolidated some of the decline off August's high. 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends the decline off August's high, July's low crossing at 0.8867 is the next downside target. If September renews the rally off July's low, the 38% retracement level of the March-July decline crossing at 0.9172 is the next upside target. First resistance is August's high crossing at 0.9127. Second resistance is the 38% retracement level of the March-July decline crossing at 0.9172. First support is August's low crossing at 0.8943. Second support is July's low crossing at 0.8867.

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

October gold 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 remain neutral to bullish signaling that sideways to higher are possible near-term. If October extends the rally off August's low, the 50-day moving average crossing at 1228.10 is the next upside target. If October resumes the decline off April's high, the December-2016 low crossing at 1162.10 is the next downside target. First resistance is Tuesday's high crossing at 1215.70. Second resistance is the 50-day moving average crossing at 1228.10. First support is August's low crossing at 1162.70. Second support is the December-2016 low crossing at 1162.10.

September silver closed lower on Thursday as it extends the trading range of the past two-weeks. The low-range close set 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 September resumes the decline off June's high, the December-2015 low on the weekly continuation chart crossing at 13.620 is the next downside target. Closes above the 20-day moving average crossing at 14.917 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 14.917. Second resistance is the 50-day moving average crossing at 15.467. First support is August's low crossing at 14.315. Second support is the December-2015 low on the weekly continuation chart crossing at 13.620.        

September copper 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 bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off August's low, the 50-day moving average crossing at 278.67 is the next upside target. 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. First resistance is the 50-day moving average crossing at 278.67. Second resistance is the reaction high crossing at 281.80. First support is August's low crossing at 255.20. Second support is the 62% retracement level of the 2016-2018 rally crossing at 250.74. 

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December Corn closed down a 1/4-cent at 3.56 1/4. 

December corn closed fractionally lower on Thursday. Corn exports for old crop corn came in at 6.9 million bushels. New crop corn export sales came in at 20.7 million bushels for a total of 27.6 million bushels. That was nearly half of the prior week’s total of 51.7 million bushels and well below trade estimates of 39.4 million bushels. As the 2017/18 marketing year wraps up, exports need to tally just 16.5 million bushels in old crop sales next week to match USDA forecast. 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 remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off August's high, July's low crossing at 3.50 1/4 is the next downside target. Closes above the 20-day moving average crossing at 3.72 1/4 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 3.72 1/4. Second resistance is the reaction high crossing at 3.82 1/2. First support is Wednesday's low crossing at 3.55 1/4. Second support is July's low crossing at 3.50 1/4.   

December wheat closed down 6 1/2-cents at 5.35 1/4. 

December wheat 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 and are turning neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 5.59 1/4 are needed to confirm that a low has been posted. If December extends this month's decline, the reaction low crossing at 5.07. First resistance is the reaction high crossing at 5.82 3/4. Second resistance is August's high crossing at 6.13. First support is Tuesday's low crossing at 5.18 1/2. Second support is the reaction low crossing at 5.07.  

December Kansas City Wheat closed down 8 1/4-cents at 5.41. 

December Kansas City wheat closed lower on Thursday. Wheat export sales for last week came in at 15.2 million bushels, which was above pre-report trade estimates of 12.9 million bushels but below the previous week’s total of 17.0 million bushels. Two months into the 2018/19 marketing year which began July 1, wheat needs 17.3 million bushels per week to match USDA forecasts. The low-range close sets the stage for a steady to lower opening on Friday. 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 20-day moving average crossing at 5.71 1/2 are needed to confirm that a low has been posted. If December extends the decline off August's high, the reaction low crossing at 5.11 1/4 is the next downside target. First resistance is the 10-day moving average crossing at 5.53 1/2. Second resistance is the 20-day moving average crossing at 5.71 1/2. First support is the reaction low crossing at 5.11 1/4. Second support is the reaction low crossing at 4.97.

December Minneapolis wheat closed down 7 3/4-cents at 5.83 3/4. 

December Minneapolis wheat 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 December extends the decline off August's high, the reaction low crossing at 5.71 3/4 is the next downside target. Closes above the 20-day moving average crossing at 6.12 1/4 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 5.96 3/4. Second resistance is the 20-day moving average crossing at 6.12 1/4. First support is Tuesday's low crossing at 5.75 3/4. Second support is the reaction low crossing at 5.71 3/4.  

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November soybeans closed down 5-cents at 8.31. 

November soybeans closed lower on Thursday as it extended this month's decline.Soybean export sales for last week were 4.1 million bushels for old crop soybeans and 21.7 million bushels in new crop sales for a total of 25.8 million bushels. That was modestly below trade estimates of 32.2 million bushels but above the prior week’s total of 23.0 million bushels. 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 November extends the decline off July's high, July's low crossing at 8.26 1/4 is the next downside target. Closes above the 20-day moving average crossing at 8.75 would confirm that a short-term low 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 today's low crossing at 8.29. Second support is July's low crossing at 8.26 1/4.

December soybean meal closed down $1.20 at 304.00. 

December soybean meal closed lower on Thursday as it extended the decline off May'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 are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off July's high, the June-2017 low crossing at 301.20 is the next downside target. Closes above the 50-day moving average crossing at 328.00 would confirm that a low has been posted. First resistance is August's high crossing at 339.40. Second resistance is July's high crossing at 343.20. First support is today's low crossing at 302.60. Second support is the June-2017 low crossing at 301.20. 

December soybean oil closed up 24-points. At 28.66. 

December soybean oil closed higher on Thursday as it extended the July-August trading range. Stochastics and the RSI are neutral signaling that sideways trading is possible near-term. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Closes above the 50-day moving average crossing at 28.87 would confirm that a short-term low has been posted while opening the door for additional gains near-term. If December resumes the decline off the late-July high, July's low crossing at 27.95 is the next downside target. First resistance is the 50-day moving average crossing at 28.87. Second resistance is the reaction high crossing at 30.15. First support is August's low crossing at 28.05. Second support is July's low crossing at 27.95. 

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

October hogs closed down $2.43 at $49.12. 

October hogs closed sharply lower on Thursday as it extends the decline off August'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 neutral to bearish signaling that sideways to lower prices are possible near-term. If October extends the aforementioned decline, August's low crossing at 47.82 is the next downside target. Closes above the 50-day moving average crossing at 54.18 would confirm that a short-term low has been posted. First resistance is August's high crossing at 59.50. Second resistance is the reaction high crossing at 61.65. First support is today's low crossing at 48.92. Second support is August's low crossing at 47.82.   

October cattle closed up $0.38 at 109.08. 

October cattle 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 bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 109.53 would confirm that a short-term low has been posted. If October resumes the decline off August's high, July's low crossing at 105.48 is the next downside target. First resistance is July's high crossing at 112.25. Second resistance is the 75% retracement level of the February-May-decline crossing at 113.33. First support is Monday's low crossing at 106.20. Second support is July's low crossing at 105.48.   

October Feeder cattle closed up $0.98 at $150.38. 

October Feeder cattle closed higher on Thursday. The high-range close sets the stage for a steady to higher opening when Friday's 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 152.35 would confirm that a short-term low has been posted. If October extends the decline off July's high, the 62% retracement level of the April-July-rally crossing at 144.20 is the next downside target. First resistance is last-Monday's high crossing at 152.35. Second resistance is the reaction high crossing at 153.45. 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 

December coffee closed lower on Thursday. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If December renews the decline off June's high, monthly support crossing at 9.39 is the next downside target. Closes above the 20-day moving average crossing at 10.62 would confirm that a short-term low has been posted.        

December cocoa closed lower on Thursday. The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are turning neutral to bearish signaling that a short-term top might be in or near. Closes below the 20-day moving average crossing at 21.15 would temper the near-term friendly outlook. If September extends the rally off August's low, July's high crossing at 26.07 is the next upside target.  

October sugar closed higher on Thursday. The high-range close set the stage for a steady to higher opening on Friday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If October extends the rally off August's low, the 50-day moving average crossing at 11.00 is the next upside target. If October renews the decline off June's high, weekly support crossing at 9.83 is the next downside target.   

October cotton closed lower on Thursday. The mid-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 85.98 are needed to confirm that a short-term low has been posted. If October renews decline off July's high, the 50% retracement level of the 2016-2018 rally crossing at 78.35 is the next downside target.