KEY EVENTS TO WATCH FOR:

Friday, February 1, 2019 

8:30 AM ET. January U.S. Employment Report

                       Non-Farm Payrolls (expected +170K; previous +312K)

                       Unemployment Rate (expected 3.9%; previous 3.9%)

                       Avg Hourly Earnings (USD) (previous 27.48)

                       Avg Hourly Earnings-Net Chg (USD)  (previous +0.11)

                       Avg Hourly Earnings, M/M% (expected +0.3%; previous +0.4%)

                       Avg Hourly Earnings, Y/Y% (previous +3.2%)

                       Overall Workweek (previous 34.5)

                       Overall Workweek Net Chg (previous +0.1)

                       Government Payrolls (previous +11K)

                       Private Payroll (previous +301K)

                       Participation Rate (previous 63.1%)

                       Non-Farm Payrolls Bench Net Chg

9:45 AM ET. January US Manufacturing PMI

                       PMI, Mfg (expected 54.8; previous 53.8)

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

                       End-Mo Sentiment Idx (expected 91.0; previous 98.3)

                       End-Mo Expectations Idx (previous 87.0)

                       12-Month Inflation Forecast (previous 2.7%)

                       5-Year Inflation Forecast (previous 2.5%)

                       End-Mo Current Idx (previous 116.1)

10:00 AM ET. December Construction Spending - Construction Put in Place * The

                        release date for this data may be changed following the end

                        of the partial U.S. Govt shutdown on 25 January

                       New Construction (expected +0.5%)

                       Residential Construction

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

                       Manufacturing PMI (expected 54.0; previous 54.1)

                       Prices Idx (previous 54.9)

                       Employment Idx (previous 56.2)

                       Inventories (previous 51.2)

                       New Orders Idx (previous 51.1)

                      Production Idx (previous 54.3)

11:00 AM ET. January Global Manufacturing PMI

                       PMI, Mfg (previous 51.5)

4:00 AM ET. January Domestic Auto Industry Sales

                       Auto Sales Annualized (expected 17.2M; previous 17.55M)

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

The March NASDAQ 100 closed higher on Thursday as it extends the rally off December'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 turning 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 October-December-decline crossing at 7023.35 is the next upside target. Closes below the 20-day moving average crossing at 6643.81 are needed to confirm that a short-term top has been posted. First resistance is the 62% retracement level of the October-December-decline crossing at 7023.35. Second resistance is the 75% retracement level of the October-December-decline crossing at 7280.27. First support is the 20-day moving average crossing at 6643.81. Second support is the reaction low crossing at 6136.50.  

The March S&P 500 closed higher on Thursday as it extended the rally off December'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 March extends the rally off December's low, the 75% retracement level of the September-December-decline crossing at 2789.62 is the next upside target. Closes below the 20-day moving average crossing at 2611.22 would confirm that a short-term top has been posted. First resistance is the 62% retracement level of the September-December-decline crossing at 2706.38. Second resistance is the 75% retracement level of the September-December-decline crossing at 2789.62. First support is the 20-day moving average crossing at 2611.22. Second support is the reaction low crossing at 2439.00.  

The Dow posted an inside day with a lower close on Thursday as it consolidates some of Wednesday's rally.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 December's low, the 75% retracement level of the October-December-decline crossing at 25,663.83 is the next upside target. Closes below the 20-day moving average crossing at 24,196.90 would confirm that a short-term top has been posted. First resistance is the 62% retracement level of the October-December-decline crossing at 24,965.15. Second resistance is the 75% retracement level of the October-December-decline crossing at 25,661.68. First support is the 20-day moving average crossing at 24,196.90. Second support is the reaction low crossing at 22,638.41.

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

March T-bonds closed up 1-01/32's at 146-23.

March T-bonds closed sharply higher on Thursday and above the reaction high crossing at 146-11 confirming that a short-term low has been posted. 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. If March extends this week's rally, January's high crossing at 148-27 is the next upside target. If March resumes the decline off January's high, the 38% retracement level of the November-January-rally crossing at 144-00 is the next downside target. First resistance is today's high crossing at 146-30. Second resistance is January's high crossing at 148-27. First support is the 38% retracement level of the November-January-rally crossing at 144-30. Second support is the 50% retracement level of the November-January-rally crossing at 142-16.         

March T-notes closed up 140 points at 122-140.

March T-notes closed sharply higher on Thursday and above the reaction high crossing at 122.090 confirming that a short-term low has been posted. 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. If March extends this week's rally, January's high crossing at 123.055 is the next upside target. If March renews the decline off January's high, the 38% retracement level of the October-January-rally crossing at 120-301 is the next downside target. First resistance is today's high crossing at 122.165. Second resistance is January's high crossing at 123.055. First support is the 38% retracement level of the October-December-rally crossing at 120.301. Second support is the 50% retracement level of the October-December-decline crossing at 120.071.        

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

March crude oil closed lower on Thursday as it continues to extend the trading range of the past three-weeks. The low-range close sets the stage for a steady to lower opening when Friday's night session begins. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower 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 reaction low crossing at 50.66 would confirm that a short-term top has been posted. First resistance is the 38% retracement level of the October-December-decline crossing at 55.55. Second resistance is the 50% retracement level of the October-December-decline crossing at 59.53. First support is the reaction low crossing at 50.66. Second support is December's low crossing at 45.13.

March heating oil closed lower on Thursday while extending the trading range of the past three-weeks. The low-range close sets the stage for a steady to lower opening when Friday's night trading session begins. Stochastics and the RSI are neutral to bearish signaling that short-term top might be in or is near. Closes below the reaction low crossing at 182.80 would confirm that a short-term top has been posted. If March renews the rally off December's low, the 38% retracement level of the October-December-decline crossing at 193.75 is the next upside target. 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 is the next upside target. First support is the reaction low crossing at 182.80. Second support is December's low crossing at 162.35. 

March unleaded gas 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 bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off January's high, December's low crossing at 124.24 is the next downside target. If March renews the rally off December's low, the 38% retracement level of the October-December-decline crossing at 160.10 is the next upside target. First resistance is the 25% retracement level of the October-December-decline crossing at 147.65. Second resistance is the 38% retracement level of the October-December-decline crossing at 160.10. First support is Monday's low crossing at 134.13. Second support is December's low crossing at 124.24. 

March Henry natural gas 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 March extends the decline off January's high, January's low crossing at 2.771 is the next downside target. Closes above last-Friday's high crossing at 3.090 would confirm that a short-term low has been posted. First resistance is last-Friday's high crossing at 3.090. Second resistance is January's high crossing at 3.406. First support is Tuesday's low crossing at 2.802. Second support is January's low crossing at 2.771.     

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

The March Dollar closed higher on Thursday as it consolidated some of the decline off last-Thursday'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 neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends this week's decline, January's low crossing at 94.63 is the next downside target. Closes above the 10-day moving average crossing at 95.68 would temper the near-term bearish outlook. First resistance is the reaction high crossing at 96.56. Second resistance is December's high crossing at 97.20. 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 closed  lower on Thursday as it consolidates some of the rally off last-Thursday's low crossing at 113.38. 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 March extends the rally off last-Thursday's low, January's high crossing at 116.33 is the next upside target. If March renews the decline off January's high, the 87% retracement level of the 2016-2018 rally crossing at 111.94 is the next downside target.First resistance is January's high crossing at 116.33. Second resistance is October's high crossing at 117.70. First support is last-Thursday's low crossing at 113.38. Second support is the 87% retracement level of the 2016-2018 rally crossing at 111.94.      

The March British Pound closed slightly 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 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 1.2960 would confirm that a short-term top has been posted. If March extends the rally off January's low, October's high crossing at 1.3356 is the next upside target. First resistance is November's high crossing at 1.3257. Second resistance is October's high crossing at 1.3356. First support is the 10-day moving average crossing at 1.3094. Second support is the 20-day moving average crossing at 1.2960.   

The March Swiss Franc closed slightly lower on Friday.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 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 1.0166 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 1.0166. Second resistance is the 50% retracement level of the September-November-decline crossing at 1.0330. First support is Wednesday's low crossing at 1.0048. Second support is November's low crossing at 1.0018.

The March Canadian Dollar closed slightly higher on Thursday as it extends the rally off December'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 have turned neutral to bullish signaling that sideways to higher prices are possible near-term. If March renews this month's rally, the 62% retracement level of the October-December-decline crossing at 76.49 is the next upside target. Closes below last-Thursday's low crossing at 74.85 would confirm that a short-term top has been posted. First resistance is the 62% retracement level of the October-December-decline crossing at 76.49. Second resistance is the 75% retracement level of the October-December-decline crossing at 77.18. First support is last-Thursday's low crossing at 74.85. Second support is December's low crossing at 73.30.  

The March Japanese Yen closed slightly higher 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. Closes above the 20-day moving average crossing at 0.0922 are needed to confirm that a short-term low has been posted. If March resumes the decline off January's high, the 50-day moving average crossing at 0.0907 is the next downside target. First resistance is the reaction high crossing at 0.0933. Second resistance is January's high crossing at 0.0946. First support is last-Wednesday's low crossing at 0.0913. Second support is the 50-day moving average crossing at 0.0907.  

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

April gold closed higher on Thursday as it extends the rally off September's low. The mid-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 April extends the rally off November's low, the 75% retracement level of the April-August-Decline crossing at 1349.50 is the next upside target. Closes below last-Thursday's low crossing at 1281.50 would confirm that a short-term top has been posted. First resistance is today's high crossing at 1331.10. Second resistance is the 75% retracement level of the April-August-decline crossing at 1349.50.First support is last-Thursday's low crossing at 1281.50. Second support is the 50-day moving average crossing at 1272.80.

March silver closed lower on Thursday as it consolidates some of the rally off November's low. 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off November's low, the 50% retracement level of the 2017-2018-decline crossing at 16.279 is the next upside target. Closes below last-Tuesday's low crossing at 15.195 would confirm that a short-term top has been posted. First resistance is today's high crossing at 16.200. Second resistance is the 50% retracement level of the 2017-2018-decline crossing at 16.279. First support is last-Tuesday's low crossing at 15.195. Second support is the 50-day moving average crossing at 15.097.        

March copper closed higher on Thursday as it extends the rally off January's low. The mid-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 March extends the rally, December's high crossing at 285.80 is the next upside target. Closes below the reaction low crossing at 263.45 would confirm that a short-term top has been posted. First resistance is the reaction high crossing at 280.35. Second resistance is January's high crossing at 285.80. First support is the reaction low crossing at 263.45. Second support is January's low crossing at 254.30. 

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

March Corn closed down 5 1/4-cents at 3.76. 

March corn closed lower on Thursday due to technical related selling. Today's USDA weekly grain export data was for the week ending December 20. Corn export sales for that week included 66.9 million bushels of old crop sales and 2.1 million bushels of new crop sales for a total of 69.0 million bushels. That was well ahead of the prior week’s tally of 46.3 million bushels and also substantially ahead of the average trade guess of 49.2 million bushels. Corn export shipments of 35.4 million bushels did not keep pace with the weekly totals needed to meet USDA forecasts. The low-range close sets the stage for a steady to lower opening when Friday's night sessions begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below January's low crossing at 3.71 would open the door for additional weakness and a possible test of November's low crossing at 3.67 1/4. Closes above January's high crossing at 3.84 1/2 are needed to confirm that a short-term low has been posted. 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 January's low crossing at 3.71. Second support is November's low crossing at 3.67 1/4.  

March wheat closed down a 1/4-cent at 5.16 1/2. 

March wheat closed fractionally lower on Thursday. The mid-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 bearish signaling that sideways to lower prices are possible near-term. Closes below the reaction low crossing at 5.08 would confirm that a short-term top has been posted. If March extends the rally off January's low, December's high crossing at 5.38 1/2 is the next upside target. First resistance is December's high crossing at 5.38 1/2. Second resistance is October's high crossing at 5.46 1/2. First support is the reaction low crossing at 5.08. Second support is January's low crossing at 5.01 1/4.     

March Kansas City Wheat closed down 3 1/4-cents at 4.99.

March Kansas City wheat closed lower on Thursday. The low-range close sets the stage for a steady to lower opening on Friday. 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 4.92 1/4 are needed to confirm that a short-term top has been posted. If March renews the rally off December's low, December's high crossing at 5.24 1/2 is the next upside 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 closed down 1 1/2-cents at 5.70. 

March 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 neutral to bearish hinting that a short-term top might be in or is near. Closes below the reaction low crossing at 5.61 are needed to confirm that a short-term top has been posted. If March extends the rally off December's low, December's high crossing at 5.89 1/2 is the next upside target. First resistance is December's high crossing at 5.89 1/2. Second resistance is November's high crossing at 5.93. First support is the reaction low crossing at 5.61. Second support is December's low crossing at 5.44 1/2.    

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

March soybeans closed down 5 1/4-cents at 9.15 3/4.

March soybeans 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 and are turning neutral to bearish signaling that a short-term top might be in or is near. Close below the 50-day moving average crossing at 9.09 1/2 would confirm that a short-term top has been posted. If March renews the rally off December's low, December's high crossing at 9.41 is the next upside target. First resistance is January's high crossing at 9.27 3/4. Second resistance is December's high crossing at 9.41. First support is January's low crossing at 8.91 1/4. Second support is December's low crossing at 8.80 1/4.  

March soybean meal closed down $0.90 at 310.20. 

March soybean meal closed lower on Thursday as it extends the September-January trading range. 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 bearish signaling that sideways to lower prices are possible near-term. If March renews this month's decline, December's low crossing at 307.10 is the next downside target. Closes above the reaction high crossing at 316.50 would temper the bearish outlook. First resistance is January's high crossing at 324.60. Second resistance is October's high crossing at 327.40. First support is December's low crossing at 307.10. Second support is November's low crossing at 305.30.  

March soybean oil closed down 21 pts. at 30.13. 

March soybean oil closed lower on Thursday as it consolidates some of the rally off December'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 March extends the rally off December's low, October's high crossing at 30.50 is the next upside target. Closes below the 20-day moving average crossing at 29.03 would confirm that a short-term top has been posted. First resistance is today's high crossing at 30.48. Second resistance is October's high crossing at 30.50. First support is the 10-day moving average crossing at 29.66. Second support is the 20-day moving average crossing at 29.03.    

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

April hogs closed down $2.00 at $60.23. 

April hogs closed sharply lower on Thursday as it extended the decline off November'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 April extends the decline off November's high, the 87% retracement level of the July-November-rally crossing at 59.81 is the next downside target. Closes above the 20-day moving average crossing at 65.15 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 63.48. Second resistance is the 20-day moving average crossing at 65.15. First support is the 87% retracement level of the July-November-rally crossing at 59.81. Second support is August's low crossing at 58.22.   

April cattle closed down $1.75 at 126.30. 

April cattle posted a huge key reversal down on Thursday signaling that a potential top to the 2018-2019 rally has come to an end. 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 turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the 50-day moving average crossing at 124.93 would confirm that a short-term top has been posted. If April extends the rally off November's low, weekly resistance crossing at 134.55 is the next upside target. First resistance is today's high crossing at 129.48. Second resistance is weekly resistance crossing at 134.55. First support is last-Wednesday's low crossing at 125.48. Second support is the 50-day moving average crossing at 124.93.   

March Feeder cattle closed down $1.75 at $142.55. 

March Feeder cattle posted a key reversal down on Thursday. The low-range close sets the stage for a steady to lower opening when Friday's 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 this month's decline, December's low crossing at 140.35 is the next downside target. Closes above today's high crossing at 145.58 would temper the 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 last-Tuesday'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 sharply higher on Thursday while extending the trading range for the past two-months. The high-range close sets the stage for a steady to higher 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 reaction high crossing at 10.72 would confirm an upside breakout of the aforementioned trading range. Closes below December's low crossing at 9.86 would confirm a downside breakout of the aforementioned trading range. 

March cocoa closed lower on Thursday as it extends the decline off December's high. The low-range close sets the stage for a steady to lower opening on Friday. 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 December's high, December's low crossing at 20.95 is the next downside target. Closes above the 20-day moving average crossing at 22.98 would confirm that a short-term low has been posted.     

March 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. If March renews this month's rally, the reaction high crossing at 13.54 is the next upside target. If March renews last-Friday's decline, January's low crossing at 11.69 is the next downside target. 

March cotton closed slightly higher on Thursday while extending the rally off January's low. The mid-range close sets 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 March extends the rally off January's low, the 50-day moving average crossing at 75.64 is the next upside target. Closes below the 20-day moving average crossing at 73.19 would confirm that a short-term top has been posted. 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.