KEY EVENTS TO WATCH FOR:

Wednesday, September 12, 2018  

7:00 AM ET. MBA Weekly Mortgage Applications Survey

                       Composite Idx (previous 343.5)

                       Composite Idx, W/W% (previous -0.1%)

                       Purchase Idx-SA (previous 231.4)

                       Purchase Idx-SA, W/W% (previous +0.6%)

                       Refinance Idx (previous 940.0)

                       Refinance Idx, W/W% (previous -1.4%)

8:30 AM ET. August PPI

                       PPI, M/M% (expected +0.2%; previous +0.0%)

                       Ex-Food & Energy PPI, M/M% (expected +0.2%; previous +0.1%)

                       Personal Consumption (previous -0.1%)

10:30 AM ET. EIA Weekly Petroleum Status Report

                       Crude Oil Stocks (Bbl) (previous 401.49M)

                       Crude Oil Stocks, Net Chg (Bbl) (previous -4.302M)

                       Gasoline Stocks (Bbl) (previous 234.619M)

                       Gasoline Stocks, Net Chg (Bbl) (previous +1.845M)

                       Distillate Stocks (Bbl) (previous 133.12M)

                       Distillate Stocks, Net Chg (Bbl) (previous +3.119M)

                       Refinery Usage (previous 96.6%)

                       Total Prod Supplied (Bbl/day) (previous 21.663M)

                       Total Prod Supplied, Net Chg (Bbl/day) (previous -0.474M)

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. U.S. Federal Reserve Beige Book

Thursday, September 13, 2018  

8:30 AM ET. August Real Earnings

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

                       Corn (Metric Tons) (previous 1063K)

                       Soybeans (Metric Tons) (previous 673.2K)

                       Wheat (Metric Tons) (previous 379.8K)

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

                       Jobless Claims (expected 210K; previous 203K)

                       Jobless Claims, Net Chg (previous -10K)

                       Continuing Claims (previous 1707000)

                       Continuing Claims, Net Chg (previous -3K)

8:30 AM ET. August CPI

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

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

                       Energy Idx, M/M% (previous -0.5%)

                       Food Idx, M/M% (previous +0.1%)

                       Real Avg Wkly Pay-Infla Adj, M/M% (previous -0.2%)

                       CPI, Y/Y% (expected +2.8%; previous +2.9%)

                       Core Annual, Y/Y% (expected +2.4%; previous +2.4%)

9:00 AM ET. SEC Investor Advisory Committee Quarterly Meeting

9:00 AM ET. SEC Investor Advisory Committee Meeting

9:45 AM ET. Bloomberg Consumer Comfort Index

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

                       Working Gas In Storage (Cbf) (previous 2568B)

                       Working Gas In Storage, Net Chg (Cbf) (previous +63B)

2:00 PM ET. SEC Closed Meeting

4:30 PM ET. Federal Discount Window Borrowings

4:30 PM ET. Foreign Central Bank Holdings

4:30 PM ET. Money Stock Measures

Friday, September 14, 2018

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

                       Import Prices (expected +0.1%; previous +0.0%)

                       Non-Petroleum Prices (previous -0.1%)

                       Petroleum Prices (previous +0.9%)

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

                       Overall Sales-SA, M/M% (expected +0.4%; previous +0.5%)

                       Sales, Ex-Auto, M/M% (expected +0.5%; previous +0.6%)

                       Sales, Ex-Auto & Gas, M/M% (previous +0.6%)

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

                       Industrial Production, M/M% (expected +0.3%; previous +0.1%)\

                       Capacity Utilization % (expected 78.3%; previous 78.1%)

                       Capacity Utilization, Net Chg (Pts) (previous +0.0)

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

                       Mid-Mo Sentiment (expected 96.0; previous 95.3)

                       Mid-Mo Expectations (previous 87.3)

                       Mid-Mo Current Idx (previous 107.8)

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

                       Total Inventories (expected +0.5%; previous +0.1%)

Monday, September 17, 2018  

8:30 AM ET. September Empire State Manufacturing Survey

                       Mfg Idx (previous 25.6)

                       Employment Idx (previous 13.1)

                       New Orders Idx (previous 17.1)

                       Prices Received (previous 20.0)

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

The STOCK INDEXES:The September NASDAQ 100 was higher overnight signaling the market could build on Tuesday's session’s rally. Investors are due to get details on Apple Inc.’s latest iPhones, along with a reading on producer prices. They’re also slated to hear from Federal Reserve officials, as well as get the central bank’s beige book report. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If September renews this year's rally into uncharted territory, upside targets will be hard to project. Closes below the 50-day moving average crossing at 7412.76 would open the door for a larger-degree decline near-term. First resistance is last-Thursday's high crossing at 7697.00. Second resistance is unknown. First support is the 50-day moving average crossing at 7412.76. Second support is the reaction low crossing at 7316.50.

The September S&P 500 was slightly higher overnight. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If September resumes the rally off June's low into uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average crossing at 2877.45 would confirm that a short-term top has been posted. First resistance is August's high crossing at 2917.00. Second resistance is is unknown. First support is the 20-day moving average crossing at 2877.45. Second support is the 50-day moving average crossing at 2838.08.      

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

INTEREST RATES: December T-bonds were higher overnight as it consolidates some of the decline off August's high. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower price are possible near-term. If December extends the decline off August's high, the reaction low crossing at 141-18 is the next downside target. Closes above the 20-day moving average crossing at 143-24 are needed to confirm that a short-term top has been posted. First resistance is August's high crossing at 145-06. Second resistance is July's high crossing at 145-16. First support is the reaction low crossing at 141-18. Second support is August's low crossing at 141-04.  

December T-notes were higher overnight as it extends the decline off August's high. 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 119.065. Closes above the 20-day moving average crossing at 120.027 would confirm that a short-term low has been posted. First resistance is August's high crossing at 120.200. Second resistance is May's high crossing at 121.260. First support is the reaction low crossing at 119.065. Second support is August's low crossing at 118.275.

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

ENERGY MARKETS: OctoberNymex crude oil was slightly higher overnight. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If October resumes the rally off August's low, May's high crossing at 71.63 is the next upside target. Closes below last-Friday's low crossing at 66.86 would confirm that a short-term top has been posted while opening the door for additional weakness near-term. First resistance is last-Tuesday's high crossing at 71.40. Second resistance is May's high crossing at 71.63. First support is last-Friday's low crossing at 66.86. Second support is August's low crossing at 63.89.    

October heating oil was lower overnight. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If October resumes the rally off July's low, the December-2014 high crossing at 237.25 is the next upside target. Closes below the 20-day moving average crossing at 219.75 are needed to confirm that a short-term top has been posted. First resistance is last-Tuesday's high crossing at 230.93. Second resistance is the December-2014 high crossing at 237.25. First support is the 20-day moving average crossing at 219.75. Second support is the 50-day moving average crossing at 216.57. 

October unleaded gas was steady to slightly lower overnight as it consolidates some of Tuesday's rally. Stochastics and the RSI are neutral to bullish signaling that sideways to lower prices are possible near-term. If October resumes the rally off August's low, May's high crossing at 211.50 is the next upside target. Closes below the 50-day moving average crossing at 195.28 would confirm that a short-term top has been posted. First resistance is last-Tuesday's high crossing at 206.24. Second resistance is May's high crossing at 211.50. First support is the 50-day moving average crossing at 195.28. Second support is August's low crossing at 186.62.  

October Henry natural gas was steady to slightly higher overnight. Stochastics and the RSI are neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 2.877 are needed to confirm that a short-term low has been posted. If October resumes the decline off August's high, July's low crossing at 2.688 is the next downside target. First resistance is the 50-day moving average crossing at 2.840. Second resistance is the 20-day moving average crossing at 2.877. First support is August's low crossing at 2.751. Second support is July's low crossing at 2.688.  

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

CURRENCIES:The December Dollar was steady to slightly higher 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 95.28 would temper the near-term bearish outlook. If December resumes this year's rally, monthly resistance crossing at 97.70 is the next upside target. If December resumes the decline off August's high, the late-July low crossing at 93.48 is the next downside target. First resistance is August's high crossing at 96.45. Second resistance is weekly resistance crossing at 97.70. First support is the 25% retracement level of the January-August-rally crossing at 94.15. Second support is the late-July low crossing at 93.48.  

The December Euro was lower overnight. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible. Closes below the 20-day moving average crossing at 116.71 would temper the near-term friendly outlook. If December renews the rally off August's low, the late-July high crossing at 118.80 is the next upside target. If December renews this summer's decline, the 75% retracement level of the 2016-2018 rally crossing at 113.54 is the next downside target. First resistance is the late-July high crossing at 118.80. Second resistance is July's high crossing at 119.36. First support is August's low crossing at 114.09. Second support is the 75% retracement level of the 2016-2018 rally crossing at 113.54. 

The December British Pound was slightly lower overnight.Stochastics and the RSI are diverging but remain neutral to bullish signaling that sideways to higher prices are possible near-term. Multiple closes above the 50-day moving average crossing at 1.3076 would confirm that the short-term trend has turned sideways to higher while opening the door for additional gains near-term. If December renews the decline off July's high, the 87% retracement level of the 2016-2018-rally crossing at 1.2632 is the next downside target. First resistance is the 50-day moving average crossing at 1.3076. Second resistance is August's high crossing at 1.3228. First support is August's low crossing at 1.2735. Second support is the 87% retracement level of the 2016-2018-rally crossing at 1.2632.  

The December Swiss Franc was steady to slightly lower overnight. 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 1.0312 would confirm that a short-term top has been posted. If December resumes the rally off August's low, the 38% retracement level of the February-July-decline crossing at 1.0480 is the next upside target. First resistance is last-Friday's high crossing at 1.0460. Second resistance is the 38% retracement level of the February-July-decline crossing at 1.0480. First support is the 20-day moving average crossing at 1.0312. Second support is the 50-day moving average crossing at 1.0235. 

The December Canadian Dollar was steady to slightly higher overnight. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 76.67 would confirm that a short-term low has been posted. If December resumes the decline off August's high, July's low crossing at 75.48 is the next downside target. First resistance is August's high crossing at 77.74. Second resistance is June's high crossing at 78.05. First support is July's low crossing at 75.47. Second support is June's low crossing at 75.00.  

The December Japanese Yen was slightly higher overnight while extending the trading range of the past two-months. 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, July's low crossing at 0.0894 is the next downside target. If December renews the rally off July's low, the 38% retracement level of the March-July decline crossing at 0.0924 is the next upside target. If first resistance is August's high crossing at 0.0918. Second resistance is the 38% retracement level of the March-July decline crossing at 0.0924. First support is August's low crossing at 0.0901. Second support is July's low crossing at 0.0894. 

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

PRECIOUS METALS: October gold was lower in overnight trading as it extends the trading range of the past three-weeks. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If October resumes the decline off April's high, the December-2016 low crossing at 1162.10 is the next downside target. If October resumes the rally off August's low, the 50-day moving average crossing at 1217.30 is the next upside target. First resistance is the reaction high crossing at 1215.70. Second resistance is the 50-day moving average crossing at 1217.30. First support is August's low crossing at 1162.70. Second support is the December-2016 low crossing at 1162.10.

December silver was steady to slightly lower overnight as it extends the trading range of the past five-days. 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 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 14.557 are needed to confirm an upside breakout of the aforementioned trading range. First resistance is the 10-day moving average crossing at 14.329. Second resistance is the 20-day moving average crossing at 14.557. First support is Tuesday's low crossing at 13.965. Second support is the December-2015 low on the weekly continuation chart crossing at 13.620. 

December copper was higher overnight. The mid-range 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 renews the rally off August's low, the 50-day moving average crossing at 275.26 is the next upside target. If December resumes the decline off the late-July high, the 62% retracement level of the 2016-2018 rally crossing at 251.03 is the next downside target. First resistance is the 50-day moving average crossing at 274.61. Second resistance is the August 9th reaction high crossing at 283.80. First support is August's low crossing at 257.45. Second support is the 62% retracement level of the 2016-2018 rally crossing at 251.03.

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

December corn was lower overnight as it extends the trading range of the past six-days. The mid-range overnight trade sets the stage for a steady to lower 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. Closes above the 50-day moving average crossing at 3.69 1/2 are needed to confirm that a short-term low has been posted. If December renews the decline off August's high, July's low crossing at 3.50 1/4 is the next downside target. First resistance is the 50-day moving average crossing at 3.69 1/2. Second resistance is the reaction high crossing at 3.82 1/2. First support is August's low crossing at 3.55 1/4. Second support is July's low crossing at 3.50 1/4.  

December wheat was higher overnight as it consolidates some of Tuesday's decline. The high-range close 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 a low might be in or is near. Closes above the 20-day moving average crossing at 5.37 1/2 would confirm that a short-term low has been posted. If December extends the decline off August's high, July's low crossing at 4.90 is the next downside target. First resistance is the 20-day moving average crossing at 5.37 1/2. Second resistance is the reaction high crossing at 5.82 3/4. First support is the reaction low crossing at 5.07. Second support is July's low crossing at 4.90.        

December Kansas City Wheat closed down 8-cents at 5.22 3/4. 

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 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 5.47 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 4.97 is the next downside target. First resistance is the 20-day moving average crossing at 5.47 1/2. Second resistance is the reaction high crossing at 5.96. 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 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 oversold but are turning neutral to bullish signaling that a low might be in or is near. 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 5.91 are needed to confirm that a short-term low has been posted. First resistance is the reaction high crossing at 6.31 3/4. Second resistance is August's high crossing at 6.56. First support is Monday's low crossing at 5.67. Second support is July's low crossing at 5.42 1/4.

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

November soybeans were lower overnight as it tests July's low crossing at 8.26 1/4. The low-range overnight trade sets the stage for a steady to lower opening when the day 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 the late-July high, the December-2008 low crossing at 7.76 1/4 is the next downside target. Closes above the 50-day moving average crossing at 8.67 1/2 are needed to confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 8.67 1/2. Second resistance is the 38% retracement level of the May-July decline crossing at 9.16. First support is July's low crossing at 8.22 1/4. Second support is the December-2008 low crossing at 7.76 1/4.

December soybean meal was lower overnight as it consolidates some of the rally off August's low. The mid-range overnight trade sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are neutral to bullish signaling that a low might be in or is near. Closes above the 50-day moving average crossing at 325.00 would confirm that a short-term low has been posted. If December renews the decline off the late-July high, the June 2017 low crossing at 301.20 is the next downside target. First resistance is the 20-day moving average crossing at 317.60. Second resistance is the 50-day moving average crossing at 325.00. First support is the 75% retracement level of the 2016-2018 rally crossing at 303.80. Second support is the June-2017 low crossing at 301.20. 

December soybean oil was lower overnight and is breaking out to the downside of the July-August trading range. The mid-range overnight trade sets the stage for a steady to lower opening when the day 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 this summer's decline, monthly support crossing at 26.99 is the next downside target. Closes above August's high crossing at 29.00 are needed to confirm that a low has been posted. First resistance is August's high crossing at 29.00. Second resistance is the late-July high crossing at 29.39. First support is the overnight low crossing at 27.67. Second support is monthly support crossing at 26.99.