KEY EVENTS TO WATCH FOR:

Wednesday, January 23, 2019  

7:00 AM ET. MBA Weekly Mortgage Applications Survey

                       Composite Idx (previous 411.8)

                       Composite Idx, W/W% (previous +13.5%)

                       Purchase Idx-SA (previous 278.5)

                       Purchase Idx-SA, W/W% (previous +9.1%)

                       Refinance Idx (previous 1172.4)

                       Refinance Idx, W/W% (previous +18.7%)

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

                       Chain Store Sales, W/W% (previous -2.3%)

                       Chain Store Sales, M/M% (previous +2.2%)

8:55 AM ET. Johnson Redbook Retail Sales Index

                       Ret Sales Mo-to-Date, M/M% (previous -1.7%)

                       Ret Sales Mo-to-Date, Y/Y% (previous +6.7%)

                       Latest Wk, Y/Y% (previous +6.7%)

9:00 AM ET. November U.S. Monthly House Price Index

10:00 AM ET. January Richmond Fed Business Activity Survey

                       Mfg Idx (previous -8)

                       Shipments Idx (previous -25)

4:30 PM ET. API Weekly Statistical Bulletin

                       Crude Stocks, Net Chg (Bbls) (previous -0.6M)

                       Gasoline Stocks, Net Chg (Bbls) (previous +6.0M)

                       Distillate Stocks, Net Chg (Bbls) (previous +3.2M)

Thursday, January 24, 2019  

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

                       Jobless Claims (expected 220K; previous 213K)

                       Jobless Claims, Net Chg (previous -3K)

                       Continuing Claims (previous 1737000)

                       Continuing Claims, Net Chg (previous +18K)

9:45 AM ET. January US Flash Services PMI

                       PMI, Services (previous 53.4)

9:45 AM ET. January US Flash Manufacturing PMI

                       PMI, Mfg (expected 53.5; previous 53.9)

9:45 AM ET. Bloomberg Consumer Comfort Index

10:00 AM ET. December Leading Indicators

                       Leading Index, M/M% (expected -0.1%; previous +0.2%)

                       Leading Index (previous 111.8)

                       Coincident Index, M/M% (previous +0.2%)

                       Lagging Index, M/M% (previous +0.4%)

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

                       Working Gas In Storage (Cbf) (previous 2533B)

                       Working Gas In Storage, Net Chg (Cbf)(previous 81B)

11:00 AM ET. January Federal Reserve Bank of Kansas City Survey of Tenth District Manufacturing

                       Mfg Activity Idx (previous -18)

                       6-Mo Exp Prod Idx (previous 19)

                       Mfg Composite Idx (previous 3)

                       6-Mo Exp Composite Idx (previous 20)

11:00 AM ET. EIA Weekly Petroleum Status Report

                       Crude Oil Stocks (Bbl) (previous 437.055M)

                       Crude Oil Stocks, Net Chg (Bbl) (previous -2.683M)

                       Gasoline Stocks (Bbl) (previous 255.565M)

                       Gasoline Stocks, Net Chg (Bbl) (previous +7.503M)

                       Distillate Stocks (Bbl) (previous 143.009M)

                       Distillate Stocks, Net Chg (Bbl) (previous +2.967M)

                       Refinery Usage (previous 94.6%)

                       Total Prod Supplied (Bbl/day) (previous 20.864M)

                       Total Prod Supplied, Net Chg (Bbl/day) (previous +1.1M)

4:30 PM ET. Money Stock Measures

4:30 PM ET. Federal Discount Window Borrowings

4:30 PM ET. Foreign Central Bank Holdings

Friday, January 25, 2019  

8:30 AM ET. U.S. Weekly Export Sales * This data will not be released if the partial U.S. Govt

                       shutdown remains in effect

                       Corn (Metric Tons)

                       Soybeans (Metric Tons)

                       Wheat (Metric Tons)

8:30 AM ET. December Advance Report on Durable Goods * This data will not be

                       released if the partial U.S. Govt shutdown remains in effect

                       Durable Goods-SA, M/M% (expected +1.0%; previous +0.8%)

                       Dur Goods, Ex-Defense, M/M% (previous -0.1%)

                       Dur Goods, Ex-Transport, M/M% (previous -0.3%)

                       Orders: Cap Gds, Non-Def, Ex-Air, M/M% (previous -0.6%)

                       Shipmnts: Cap Gds, Non-Def, Ex-Air, M/M% (previous -0.1%)

10:00 AM ET. December New Residential Sales * This data will not be released if the

                    partial U.S. Govt shutdown remains in effect

                       New Home Sales (previous 570K)

                       New Home Sales, M/M% (previous +4.8%)

                       New Home Sales Months Supply

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

The STOCK INDEXES:The March NASDAQ 100 was higher overnight as it consolidates some of Tuesday's loss due to worries over the trade war between the United States and China.Stochastics and the RSI are overbought and 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 6482.45 are needed to confirm that a short-term top has been posted. If March extends the rally off December's low, the 62% retracement level of the October-December-decline crossing at 7018.75 is the next upside target. First resistance is the 50% retracement level of the October-December-decline crossing at 6787.66. Second resistance is the 62% retracement level of the October-December-decline crossing at 7018.75. First support is the 20-day moving average crossing at 6482.45. Second support is the reaction low crossing at 6136.50.  

The March S&P 500 was higher overnight as it consolidates some ofTuesday's loss.Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off December's low, the 62% retracement level of the September-December-decline crossing at 2706.38 is the next upside target. Closes below the 20-day moving average crossing at 2551.93 would confirm that a short-term top has been posted.First resistance is the reaction high crossing at 2683.00. Second resistance is the 62% retracement level of the September-December-decline crossing at 2706.38. First support is the 20-day moving average crossing at 2551.93. Second support is the reaction low crossing at 2439.00.

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

INTEREST RATES: March T-bonds was lower overnight. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the aforementioned decline, the 38% retracement level of the November-January-rally crossing at 144-00 is the next downside target. Closes above last-Monday's high crossing at 146.11 would confirm that a short-term low has been posted. First resistance is January's high crossing at 148-27. Second resistance is weekly resistance crossing at 152-18. First support is the 38% retracement level of the November-January rally crossing at 144-00. Second support is the 50% retracement level of the November-January rally crossing at 142.16.

March T-notes was lower overnight. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off January's high, the 38% retracement level of the October-January-rally crossing at 120.301 is the next downside target. Closes above last-Monday's high crossing at 122.090 are needed to confirm that a short-term low has been posted. First resistance is last-Monday's high crossing at 122.090. Second resistance is January's high crossing at 123.080. First support is the 38% retracement level of the October-January rally crossing at 120.301. Second support is the 50% retracement level of the October-January-rally crossing at 120.071.

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

March crude 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off December's low, the 38% retracement level of the October-December-decline crossing at 55.55 is the next upside target. Closes below the 20-day moving average crossing at 49.74 are needed to confirm that a short-term top has been posted. First resistance is the the 38% retracement level of the October-December-decline crossing at 55.55. Second resistance is the reaction high crossing at 58.55. First support is the 20-day moving average crossing at 49.74. Second support is December's low crossing at 42.67.  

March heating oil was higher overnight. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off December's low, the 38% retracement level of the October-December-decline crossing at 193.75 is the next upside target. Closes below the 20-day moving average crossing at 179.93 are needed to confirm that a short-term top has been posted. First resistance is the 38% retracement level of the October-December-decline crossing at 193.75. Second resistance is the 50% retracement level of the October-December-decline crossing at 203.52. First support is the 20-day moving average crossing at 179.93. Second support is December's low crossing at 162.35. 

March unleaded gas was steady to slightly higher 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 138.03 would confirm that a short-term top has been posted. If March extends the rally off December's low, December's high crossing at 153.48 is the next upside target. First resistance is the 25% retracement level of the October-December-decline crossing at 147.65. Second resistance is December's high crossing at 153.48. First support is the 20-day moving average crossing at 138.03. Second support is December's low crossing at 124.24. 

March Henry natural gas was higher overnight. The mid-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 bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off last week's high, January's low crossing at 2.771 is the next downside target. If March resumes the rally off January's low, the 50-day moving average crossing at 3.521 is the next upside target. First resistance is the 38% retracement level of the November-January-decline crossing at 3.472. Second resistance is the 50-day moving average crossing at 3.521. First support is Tuesday's low crossing at 2.961. Second support is January's low crossing at 2.771.    

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

CURRENCIES:The March Dollar was slightly lower overnight. Stochastics and the RSI remain neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 96.08 would open the door for additional gains near-term. If March resumes the decline off December's high, the 62% retracement level of the September-December-rally crossing at 94.54 is the next downside target. First resistance is the reaction high crossing at 96.65. Second resistance is December's high crossing at 97.19. First support is the 62% retracement level of the September-December-rally crossing at 94.54. Second support is the 75% retracement level of the September-December-rally crossing at 93.97.    

The March Euro was steady to slightly higher overnight as it consolidates some of the decline off January's high. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off January's high, January's low crossing at 113.77 is the next downside target. Closes above the 20-day moving average crossing at 114.87 would temper the near-term bearish outlook. First resistance is November's high crossing at 116.45. Second resistance is the reaction high crossing at 117.00. First support is January's low crossing at 113.77. Second support is November's low crossing at 113.53.    

The March British Pound was higher overnight as it extends the rally off January's low. The high-range overnight trade sets the stage for a steady to higher opening when the day session beings trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off January's low, the reaction high crossing at 1.3150 is the next upside target. Closes below the 20-day moving average crossing at 1.2832 would confirm that a short-term top has been posted. First resistance is the reaction high crossing at 1.3150. Second resistance is November's high crossing at 1.3257. First support is the 20-day moving average crossing at 1.2832. Second support is January's low crossing at 1.2512.  

The March Swiss Franc was steady to slightly lower overnight as it extends the decline off January's high. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends this month's decline, November's low crossing at 1.0018 is the next downside target. Closes above the 20-day moving average crossing at 1.0193 would confirm that a short-term low has been posted. First resistance is the 50% retracement level of the September-November decline crossing at 1.0330. Second resistance is the 62% retracement level of the September-November decline crossing at 1.0405. First support is the overnight low crossing at 1.0061. Second support is November's low crossing at 1.0018. 

The March Canadian Dollar was higher overnight as it consolidates some of the decline off last-week's high. 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 74.80 are needed to confirm that a short-term top has been posted.If March resumes the rally off December's low, December's high crossing at 76.15 is the next upside target. First resistance is January's high crossing at 75.99. Second resistance is December's high crossing at 76.15. First support is the 20-day moving average crossing at 74.80. Second support is December's low crossing at 73.30.

The March Japanese Yen was lower overnight. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off January's high, the 50-day moving average crossing at 0.0904 is the next downside target. Closes above the 10-day moving average crossing at 0.0923 would confirm that a short-term low has been posted. First resistance is the 62% retracement level of the March-November-decline crossing at 0.0944. Second resistance is the 75% retracement level of the March-November-decline crossing at 0.0957. First support is last-Friday's low crossing at 0.0914. Second support is the 50-day moving average crossing at 0.0904.   

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

PRECIOUS METALS: April gold was slightly higher overnight while extending 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. Closes below the reaction low crossing at 1284.60 would confirm that a short-term top has been posted. If April resumes the rally off November's low, the 62% retracement level of the January-August-decline crossing at 1320.10 is the next upside target. First resistance is the reaction high crossing at 1306.50. Second resistance is the 62% retracement level of the January-August-decline crossing at 1320.10. First support is the reaction low crossing at 1284.60. Second support is the 50-day moving average crossing at 1262.20.  

March silver was higher overnight as it consolidates some of the decline off January's high. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off January's high, the 50-day moving average crossing at 14.912 is the next downside target. Closes above the 10-day moving average crossing at 15.565 are needed to confirm that a short-term low has been posted. First resistance is the reaction high crossing at 15.955. Second resistance is the 50% retracement level of the 2017-2018-decline crossing at 16.279. First support Tuesday's low crossing at 15.195. Second support is the 50-day moving average crossing at 14.912.  

March copper was slightly lower overnight as it consolidated some of Tuesday's loss. 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 bearish signaling that sideways to lower prices are possible near-term. If March resumes the decline off December's high, the 62% retracement level of the 2016-2018-rally crossing at 251.75 is the next downside target. Closes above the 50-day moving average crossing at 271.11 are needed to confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 271.11. Second resistance is the reaction high crossing at 280.35. First support is January's low crossing at 254.30. Second support is the 62% retracement level of the 2016-2018-rally crossing at 251.75.

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

March corn was higher overnight as it continues to extend the September-January trading range. The high-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. Closes above last-Tuesday's high crossing at 3.81 would temper the near-term bearish outlook. If March resumes the decline off January's high, November's low crossing at 3.67 1/4 is the next downside target. First resistance is January's high crossing at 3.84 1/2. Second resistance is December's high crossing at 3.87 3/4. First support is last-Tuesday's low crossing at 3.71. Second support is Nov.'s low crossing at 3.67 1/4.  

March wheat was higher overnight while extending the September-January trading range. The mid-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 March resumes the rally off January's low, December's high crossing at 5.38 1/2 is the next upside target. If March resumes the decline off December's high, psychological support crossing at 5.00 is the next downside target. First resistance is December's high crossing at 5.38 1/2. Second resistance is the 38% retracement level of the August-November-decline crossing at 5.50 1/2. First support is January's low crossing at 5.01 1/4. Second support is psychological support crossing at 5.00.       

March Kansas City Wheat closed up 3 3/4-cents at 5.09 3/4. 

March Kansas City wheat 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. If March extends the rally off December's low, December's high crossing at 5.24 1/2 is the next upside target. If March resumes the decline off December's high, November's low crossing at 4.82 1/4 is the next downside target.First resistance is December's high crossing at 5.24 1/2. Second resistance is November's high crossing at 5.33 3/4. First support is December's low crossing at 4.87 1/4. Second support is November's low crossing at 4.82 1/4.  

March Minneapolis wheat was higher overnight as it extends the rally off December's low. The high-range close 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 March extends the rally off January's low, December's high crossing at 5.89 1/2 is the next upside target. Closes below the 20-day moving average crossing at 5.64 would confirm that a short-term top has been posted. First resistance is Tuesday's high crossing at 5.79 1/4. Second resistance is December's high crossing at 5.89 1/2. First support is December's low crossing at 5.44 1/2. Second support is weekly support crossing at 5.23 3/4. 

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

March 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 neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off last week's low, December's high crossing at 9.41 is the next upside target. Closes below last-Wednesday's low crossing at 8.91 1/4 would renew this month's decline. First resistance is the 50% retracement level of the May-September-decline crossing at 9.46 1/2. Second resistance is the 62% retracement level of the May-September-decline crossing at 9.72 1/4. First support is December's low crossing at 8.80 1/2. Second support is the reaction low crossing at 8.71 1/4.

March soybean meal was steady to slightly 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above last-Friday's high crossing at 316.50 would temper the near-term bearish outlook. If March resumes the decline off January's high, December's low crossing at 307.10 is the next downside target. First resistance is January's high crossing at 323.60. Second resistance is October's high crossing at 327.40. First support is December's low crossing at 307.10. Second support is September's low crossing at 303.40. 

March soybean oil was higher overnight as it extends the rally off December'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 March extends the rally off December's low, December's high crossing at 29.50 is the next upside target. Closes below the 20-day moving average crossing at 28.37 would confirm that a short-term top has been posted. First resistance is December's high crossing at 29.50. Second resistance is the 75% retracement level of the October-November-decline crossing at 29.74. First support is last-Thursday's low crossing at 28.13. Second support is December's low crossing at 27.58.

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

February hogs closed up $0.25 at $61.48. 

February hogs closed higher on Tuesday as it consolidated some of the decline off November's high. The mid-range close sets the stage for a steady opening when Wednesday's night session begins trading. 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 63.65 are needed to confirm that a short-term low has been posted. If February extends the decline off November's high, October's low crossing at 58.78 is the next downside target. First resistance is the 50-day moving average crossing at 63.65. Second resistance is the reaction high crossing at 66.80. First support is last-Thursday's low crossing at 59.12. Second support is October's low crossing at 58.78.    

February cattle closed down $1.40 at 125.13. 

February cattle gapped down and closed lower on Tuesday as it consolidated some of the rally off 2018's low. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI have turned neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 124.55 would confirm that a short-term top has been posted. If February resumes the rally off November's low, weekly resistance crossing at 134.55 is the next upside target. First resistance is last-Wednesday's high crossing at 127.95. Second resistance is weekly resistance crossing at 134.55. First support is the 20-day moving average crossing at 124.55. Second support is the 50-day moving average crossing at 122.29.   

March Feeder cattle closed down $1.32 at $141.50. 

March Feeder cattle closed lower on Tuesday as it extends the decline off December's high. The low-range close sets the stage for a steady to lower opening when Wednesday's session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends this month's decline, December's low crossing at 140.35 is the next downside target. Closes above the 20-day moving average crossing at 144.78 would temper the near-term bearish outlook. First resistance is the reaction high crossing at 146.47. Second resistance is December's high crossing at 147.58. First support is today's low crossing at 141.20. Second support is December's low crossing at 140.35.  

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

March coffee 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 bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 10.65 would confirm that a short-term low has been posted. If March resumes the decline off January's high, September's low crossing at 9.85 is the next downside target.              

March cocoa closed lower on Tuesday and below the 50-day moving average crossing at 22.60 confirming that a short-term top has been posted. 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 March extends the decline off December's high, December's low crossing at 20.95 is the next downside target. Closes above last-Thursday's high crossing at 23.68 would confirm that a short-term low has been posted.     

March 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 overbought and 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 12.55 would confirm that a short-term top has been posted. If March extends this month's rally, the reaction high crossing at 13.54 is the next upside target. 

March 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 turning neutral to bearish signaling that sideways to lower prices are possible near-term. If March resumes the decline off December's high, the 75% retracement level of the 2016-2018-rally crossing at 74.04 is the next downside target. If March extends this week's rally, the 50-day moving average crossing at 76.31 is the next upside target.