KEY EVENTS TO WATCH FOR:

Friday, March 1, 2019  

8:30 AM ET. Dec/Jan  Personal Income & Outlays * BEA releases a single report that

                      will include personal income and outlays for December 2018,

                      as well as personal income for January 2019, following the

                      partial shutdown of the U.S. federal government which ended 25 January

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

                       Consumer Spending, M/M% (Dec) (expected +0.3%; previous +0.4%)

                       PCE Price Idx, M/M% (Dec) (previous +0.1%)

                       PCE Price Idx, Y/Y% (Dec) (previous +1.8%)

                       PCE Core Price Idx, M/M% (Dec) (expected +0.2%; previous +0.1%)

                       PCE Core Price Idx, Y/Y% (Dec) (previous +1.9%)

                       Personal Income, M/M% (Jan) (previous +0.2%)

9:45 AM ET. February US Manufacturing PMI

                       PMI, Mfg (expected 54.0; previous 54.9)

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

                       End-Mo Sentiment Idx (expected 95.8; previous 91.2)

                       End-Mo Expectations Idx (previous 79.9)

                       12-Month Inflation Forecast (previous 2.7%)

                       5-Year Inflation Forecast (previous 2.6%)

                       End-Mo Current Idx (previous 108.8)

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

                       Manufacturing PMI (expected 55.6; previous 56.6)

                       Prices Idx (previous 49.6)

                       Employment Idx (previous 55.5)

                       Inventories (previous 52.8)

                       New Orders Idx (previous 58.2)

                       Production Idx (previous 60.5)

11:00 AM ET. February Global Manufacturing PMI

                       PMI, Mfg (previous 50.7)

4:00 PM ET. February Domestic Auto Industry Sales

                       Auto Sales Annualized (expected 16.8M; previous 16.7M)

  N/A               DELAYED: Deadline for success in U.S.-China trade talks in

                        order to avoid new tariffs

  N/A               Suspension of U.S. federal debt limit expires

  N/A               ABAC APEC Business Advisory Council Meeting

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

The STOCK INDEXES:The March NASDAQ 100 was higher overnight as it extends the rally off December's low. 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 October-December-decline crossing at 7280.27 is the next upside target. Closes below the 20-day moving average crossing at 7029.21 are needed to confirm that a short-term top has been posted. First resistance is December's high crossing at 7169.00. 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 7029.21. Second support is the 50-day moving average crossing at 6721.65.  

The March S&P 500 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, November's high crossing at 2823.20 is the next upside target. Closes below the 20-day moving average crossing at 2756.11 would confirm that a short-term top has been posted.First resistance is November's high crossing at 2823.20. Second resistance is the 87% retracement level of the September-December-decline crossing at 2865.28. First support is the 20-day moving average crossing at 2756.11. Second support is February's low crossing at 2683.00.

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

INTEREST RATES: March T-bonds were lower overnight as they extend Thursday's loss. 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 144-29 would confirm a downside breakout of February's trading range. If March resumes the rally off January's low, January's high crossing at 148-27 is the next upside target. First resistance is the reaction high crossing at 147-01. Second resistance is January's high crossing at 148-27. First support is the 38% retracement level of the November-January rally crossing at 144-00. Second support is the 50% retracement level of the November-January rally crossing at 142.16.

March T-notes was lower overnight as it extends Thursday's loss. 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 121.190 would confirm a downside breakout of February's trading range. If March resumes the rally off January's low, January's high crossing at 148-27 is the next upside target. First resistance is the reaction high crossing at 122.190. Second resistance is January's high crossing at 123.080. First support is the reaction low crossing at 121.190. Second support is the 38% retracement level of the October-January rally crossing at 120.301. 

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

April crude oil was steady to slightly higher overnight. 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If April extends the rally off December's low, the reaction high crossing at 58.70 is the next upside target. Closes below the 20-day moving average crossing at 55.38 would confirm that a short-term top has been posted. First resistance is last-Friday's high crossing at 57.81. Second resistance is the reaction high crossing at 58.70. First support is the 20-day moving average crossing at 55.38. Second support is the 50-day moving average crossing at 52.36.  

April heating oil was slightly lower overnight. 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 overbought, diverging but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If April extends the rally off December's low, the 62% retracement level of the October-December-decline crossing at 212.17 is the next upside target. Closes below the 20-day moving average crossing at 196.31 would confirm that a short-term top has been posted. First resistance is the 62% retracement level of the October-December-decline crossing at 212.17. Second resistance is the 75% retracement level of the October-December-decline crossing at 223.08. First support is the 20-day moving average crossing at 196.31. Second support is the 50-day moving average crossing at 186.12. 

April unleaded gas was slightly higher overnight. 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 December's low, the reaction high crossing at 182.49 is the next upside target. Closes below the 20-day moving average crossing at 168.85 would confirm that a short-term top has been posted. First resistance is the 38% retracement level of the October-December-decline crossing at 177.50. Second resistance is the 50% retracement level of the October-December-decline crossing at 188.48. First support is the 20-day moving average crossing at 168.85. Second support is the 50-day moving average crossing at 161.67. 

April Henry natural gas 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 April extends the rally off February's low, the 62% retracement level of the November-February-decline crossing at 2.872 is the next upside target. Closes below the 20-day moving average crossing at 2.699 would confirm that a short-term top has been posted. First resistance is the 62% retracement level of the December-February-decline crossing at 2.872. Second resistance is the 75% retracement level of the December-February-decline crossing at 2.938. First support is the 20-day moving average crossing at 2.699. Second support is February's low crossing at 2.565.

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

CURRENCIES:The March Dollar was slightly lower overnight. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off February's high, the 38% retracement level of the September-December-rally crossing at 95.58 is the next downside target. Closes above the 20-day moving average crossing at 96.36 would confirm that a short-term low has been posted. First resistance is February's high crossing at 97.12. Second resistance is weekly resistance crossing at 97.83. First support is the 38% retracement level of the September-December-rally crossing at 95.58. Second support is the 50% retracement level of the September-December-rally crossing at 95.06.

The March Euro was higher overnight. The high-range trade overnight 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 the 50-day moving average crossing at 114.40 would open the door for a larger-degree rally off February's low. Closes below the reaction low crossing at 113.36 would temper the near-term friendly outlook. First resistance is the 50-day moving average crossing at 114.40. Second resistance is the reaction high crossing at 115.57. First support is February's low crossing at 112.76. Second support is the 87% retracement level of the 2016-2018-rally crossing at 111.94.    

The March British Pound was lower overnight as it consolidates some of the rally off January's low. The mid-range overnight trade sets the stage for a steady to lower 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 February's low, September's high crossing at 1.3384 is the next upside target. Closes below the 20-day moving average crossing at 1.3046 would confirm that a short-term top has been posted. First resistance is September's high crossing at 1.3384. Second resistance is the 50% retracement level of the April-December-2018 decline crossing at 1.3539. First support is the 20-day moving average crossing at 1.3046. Second support is the 50-day moving average crossing at 1.2945.  

The March Swiss Franc was steady to slightly lower overnight. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off February's low, the 50-day moving average crossing at 1.0108 is the next upside target. If March resumes the decline off January's high, weekly support crossing at 0.9902 is the next downside target. First resistance is the 50-day moving average crossing at 1.0108. Second resistance is the reaction high crossing at 1.0142. First support is February's low crossing at 0.9930. Second support is weekly support crossing at 0.9902. 

The March Canadian Dollar was higher overnight. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March renews the rally off December's low, the 75% retracement level of the October-December-decline crossing at 77.18 is the next upside target. Closes below the 50-day moving average crossing at 75.25 would renew the decline off January's high. 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 the 50-day moving average crossing at 75.25. Second support is the reaction low crossing at 74.86.

The March Japanese Yen was lower overnight as it extends the decline off January's high. Stochastics and the RSI are oversold but remain neutral to bearish signaling that additional weakness is possible near-term. If March extends the decline off January's high, the 87% retracement level of the November-January rally crossing at 0.0892 is the next downside target. Closes above the 20-day moving average crossing at 0.0907 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 0.0907. Second resistance is the reaction high crossing at 0.0925. First support is the 87% retracement level of the November-January rally crossing at 0.0892. Second support is November's low crossing at 0.0885.

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

PRECIOUS METALS: April gold was lower overnight as it extends the decline off February's high. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If April extends the decline off February's high, the 50-day moving average crossing at 1303.70 is the next downside target. If April renews the rally off November's low, the 87% retracement level of the January-August-decline crossing at 1376.20 is the next upside target. First resistance is the 75% retracement level of the January-August-decline crossing at 1349.50. Second resistance is the 87% retracement level of the January-August-decline crossing at 1376.20. First support is the 50-day moving average crossing at 1303.70. Second support is January's low crossing at  1281.50.

May silver was lower overnight as it extends the decline off February's high. Stochastics and the RSI are neutral to bearish signaling that a short-term top might be in or is near. If May extends the aforementioned decline, January's low crossing at 15.280 is the next downside target. If May resumes the rally off November's low, the 50% retracement level of the 2017-2018-decline crossing at 16.355 is the next upside target. First resistance is February's high crossing at 16.295. Second resistance is the 50% retracement level of the 2017-2018-decline crossing at 16.355. First support is the overnight low crossing at 15.530. Second support is January's low crossing at 15.280. 

May copper was higher overnight as it consolidates below resistance marked by the 50% retracement level of the April-December-2018 decline crossing at 296.76. The high-range 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 May extends the rally off January's low, the 62% retracement level of the April-December-2018 decline crossing at 306.69 is the next upside target. Closes below the 20-day moving average crossing at 286.37 would confirm that a short-term top has been posted. First resistance the 50% retracement level of the April-December-2018 decline crossing at 296.76. Second resistance the 62% retracement level of the April-December-2018 decline crossing at 306.69. First support is the 20-day moving average crossing at 286.37. Second support is the 50-day moving average crossing at 275.20.  

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

May corn was steady to fractionally higher overnight as it consolidates some of this week's decline.The low-range trade overnight 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 May extends the decline off January's high, the 87% retracement level of the September-November-rally crossing at 3.67 3/4 is the next downside target.Closes above the 20-day moving average crossing at 3.81 3/4 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 3.77 3/4. Second resistance is the 20-day moving average crossing at 3.81 3/4. First support is the 87% retracement level of the September-November-rally crossing at 3.67 3/4. Second support is September's low crossing at 3.63 1/4.  

May wheat was lower overnight as it extends the decline off February's high. 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 May extends this month's decline, psychological support crossing at 4.50 is the next downside target. Closes above the 20-day moving average crossing at 5.00 1/2 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 4.78 1/4. Second resistance is the 20-day moving average crossing at 5.00 1/2. First support is the overnight low crossing at 4.56 1/4. Second support is psychological support crossing at 4.50. 

May Kansas City Wheat closed down 1-cent at 4.44 1/2.

May Kansas City wheat closed lower on Thursday. The low-range close sets the stage for a steady to lower opening when Wednesday 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 May extends the decline off December's high, weekly support crossing at 4.17 3/4 is the next downside target. Closes above the 20-day moving average crossing at 4.84 1/2 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 4.61 1/4. Second resistance is the 20-day moving average crossing at 4.84 1/2. First support is Tuesday's low crossing at 4.40 1/4. Second support is weekly support crossing at 4.17 3/4.  

May Minneapolis wheat was higher overnight. 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 neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the reaction high crossing at 5.73 are needed to confirm that a short-term low has been posted. If May resumes this month's decline, weekly support crossing at 5.44 1/2 is the next downside target. First resistance is the reaction high crossing at 5.73. Second resistance is February's high crossing at 5.81 1/4. First support is February's low crossing at 5.48. Second support is weekly support crossing at 5.44 1/2. 

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

May soybeans were higher overnight as they consolidates some of this week's decline. 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 bearish signaling that sideways to lower prices are possible near-term. If May renews the decline off February's high, January's low crossing at 9.04 3/4 is the next upside target. Closes above the reaction high crossing at 9.34 1/4 are needed to temper the near-term bearish outlook. First resistance is February's high crossing at 9.45. Second resistance is December's high crossing at 9.53. First support is January's low crossing at 9.04 1/4. Second support is December's low crossing at 8.93 1/2.

May soybean meal was 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If May resumes the decline off January's high, September's low crossing at 303.70 is the next downside target. Closes above the reaction high crossing at 314.70 are needed to temper the near-term bearish outlook. First resistance is the reaction high crossing at 314.70. Second resistance is February's high crossing at 321.30. First support is Thursday's low crossing at 305.70. Second support is September's low crossing at 303.70.  

May soybean 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. If May renews the rally off last-Wednesday's low, February's high crossing at 31.32 is the next upside target. If May renews the decline off February's high, the 50-day moving average crossing at 29.62 is the next downside target. First resistance is February's high crossing at 31.32. Second resistance is the 50% retracement level of the 2017-2018 decline crossing at 32.02. First support is the reaction low crossing at 29.26. Second support is the 50-day moving average crossing at 29.58.

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

April hogs closed up $0.28 at $55.88. 

April hogs closed higher on Thursday. The mid-range close sets the stage for a steady opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing at 58.17 are needed to confirm that a short-term low has been posted. If April resumes the decline off November's high, weekly support crossing at 51.27 is the next downside target. First resistance is the 20-day moving average crossing at 58.17. Second resistance is the reaction high crossing at 61.33. First support is last-Wednesday's low crossing at 52.25. Second support is weekly support crossing at 51.27.   

April cattle closed down $0.08 at 129.85. 

April cattle closed slightly lower 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 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, weekly resistance crossing at 134.55 is the next upside target. Closes below the 50-day moving average crossing at 126.84 are needed to confirm that a short-term top has been posted. First resistance is Wednesday's high crossing at 130.10. Second resistance is weekly resistance crossing at 134.55. First support is the 50-day moving average crossing at 126.84. Second support is February's low crossing at 125.75.   

April Feeder cattle closed down $1.08 at $146.15. 

April Feeder cattle closed lower on Thursday. The mid-range close sets the stage for a steady 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. If April extends the rally off January's low, December's high crossing at 147.83 is the next upside target. Closes below the reaction low crossing at 144.37 would confirm that a short-term top has been posted. First resistance is December's high crossing at 147.83. Second resistance is November's high crossing at 150.20. First support is January's low crossing at 142.63. Second support is December's low crossing at 141.30.  

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

May coffee closed lower on Thursday. The mid-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 May extends this month's decline, weekly support crossing at 95.10 is the next downside target. Closes above the 20-day moving average crossing at 10.30 are needed to confirm that a low has been posted.

May 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 sideways to lower prices are possible near-term. If May extends the decline off February's high, January's low crossing at 22.03 is the next downside target. If May resumes the rally off January's low, the December high crossing at 24.64 is the next upside target.         

May sugar closed lower on Thursday. The low-range close set 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 50-day moving average crossing at 12.75 would confirm that a short-term top has been posted. If May renews the rally off February's low, October's high crossing at 14.29 is the next upside target.   

May cotton closed higher 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 May renews the decline off December's high, the 87% retracement level of the 2016-2018-rally crossing at 68.36 is the next downside target. Closes above the 50-day moving average crossing at 74.13 would confirm that a short-term low has been posted.