KEY EVENTS TO WATCH FOR:

Tuesday, March 5, 2019  

7:30 AM ET. Federal Reserve Bank of Boston President Eric Rosengren

                      addresses the National Association of Corporate Directors'

                      New England Chapter

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

                       Chain Store Sales, W/W% (previous -1.6%)

                       Chain Store Sales, M/M% (previous +1.1%)

8:55 AM ET. Johnson Redbook Retail Sales Index

                       Ret Sales Mo-to-Date, M/M% (previous -1.4%)

                       Ret Sales Mo-to-Date, Y/Y% (previous +5.1%)

                       Latest Wk, Y/Y% (previous +5.2%)

9:45 AM ET. February US Services PMI

                       PMI, Services (previous 54.2)

10:00 AM ET. December New Residential Sales * Release delayed from 25 Jan due to

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

                       New Home Sales (previous 580K)

                       New Home Sales, M/M% (previous +6.6%)

                       New Home Sales Months Supply

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

                       Economic Optimism Idx (previous 50.3)

                       6-Mo Economic Outlook (previous 44.5)

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

                       Non-Mfg Composite Idx (previous 56.7)

                       Non-Mfg Business Idx (previous 59.7)

                       Prices Idx (previous 59.4)

                       Employment Idx (previous 57.8)

                       New Orders Idx (previous 57.7)

11:00 AM ET. February Global Services PMI

                       PMI, Services   (previous 52.6)

4:30 PM ET.  API Weekly Statistical Bulletin

                       Crude Stocks, Net Chg (Bbls) (previous -4.2M)

                       Gasoline Stocks, Net Chg (Bbls) (previous -3.8M)

                       Distillate Stocks, Net Chg (Bbls) (previous +0.4M)

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

The STOCK INDEXES:The March NASDAQ 100 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 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 7053.09 are needed to confirm that a short-term top has been posted. First resistance is Monday's high crossing at 7211.50. 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 7053.09. Second support is the 50-day moving average crossing at 6751.51.  

The March S&P 500 was higher overnight as it extends the trading range of the past six-days. 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 2764.53 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 2764.53. Second support is February's low crossing at 2683.00.

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

INTEREST RATES: June T-bonds were lower overnight. Stochastics and the RSI are turning neutral to bullish hinting that a short-term low might be in or is near. Closes above the 20-day moving average crossing at 145-11 are needed to confirm that a short-term low has been posted. If June extends last week's losses, the 38% retracement level of the November-January rally crossing at 143-10 is the next downside target. First resistance is February's high crossing at 146-17. Second resistance is January's high crossing at 147-31. First support is the 38% retracement level of the November-January rally crossing at 143-10. Second support is the 50% retracement level of the November-January rally crossing at 141.27.

June T-notes was lower overnight. Stochastics and the RSI are oversold and are turning neutral to bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing at 122.082 would temper the near-term bearish outlook. If June extends the decline off January's high, the 38% retracement level of the October-January rally crossing at 121.063 is the next downside target. First resistance is the reaction high crossing at 122.280. Second resistance is January's high crossing at 123.175. First support is the 38% retracement level of the October-January rally crossing at 121.063. Second support is the 50% retracement level of the October-January rally crossing at 120.150.

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

April crude oil was slightly 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 bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 55.43 are needed to confirm that a short-term top has been posted. If April extends the rally off December's low, the reaction high crossing at 58.70 is the next upside target. First resistance is the reaction 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 55.43. Second support is the 50-day moving average crossing at 52.69.  

April heating oil was steady to slightly lower overnight. However, 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, diverging and are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 197.22 are needed to confirm that a short-term top has been posted. 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. 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 197.22. Second support is the 50-day moving average crossing at 187.17. 

April unleaded gas was higher overnight as it extends the trading range of the past two weeks. 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 169.99 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 169.99. Second support is the 50-day moving average crossing at 162.43. 

April Henry natural gas was higher overnight as it extends the rally off February'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 April extends the rally off February's low, the 75% retracement level of the November-February-decline crossing at 2.938 is the next upside target. Closes below the 20-day moving average crossing at 2.720 would confirm that a short-term top has been posted. First resistance is the overnight high crossing at 2.892. Second resistance is the 75% retracement level of the December-February-decline crossing at 2.938. First support is the 10-day moving average crossing at 2.791. Second support is the 20-day moving average crossing at 2.720.

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

CURRENCIES:The June Dollar was higher overnight. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off February's low, February's high crossing at 96.68 is the next upside target. Closes below the 50-day moving average crossing at 95.47 would confirm that a short-term top has been posted. First resistance is February's high crossing at 96.68. Second resistance is weekly resistance crossing at 97.83. First support is the 38% retracement level of the September-December-rally crossing at 95.04. Second support is the 50% retracement level of the September-December-rally crossing at 94.52.

The June Euro was lower 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 bearish signaling that sideways to lower prices are possible near-term. Closes below the reaction low crossing at 114.30 would temper the near-term friendly outlook. Closes above the 50-day moving average crossing at 115.25 would open the door for a larger-degree rally off February's low. First resistance is the 50-day moving average crossing at 115.25. Second resistance is the reaction high crossing at 116.46. First support is February's low crossing at 113.50. Second support is the 87% retracement level of the 2016-2018-rally crossing at 112.62.   

The June British Pound was lower overnight as it consolidates some of the rally off January's low. The low-range overnight trade sets the stage for a steady to lower opening when the day session beings 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 1.3115 are needed to confirm that a short-term top has been posted. If June extends the rally off February's low, the 50% retracement level of the April-December-decline crossing at 1.3603 is the next upside target. First resistance is September's high crossing at 1.3445. Second resistance is the 50% retracement level of the April-December-2018 decline crossing at 1.3603. First support is the 20-day moving average crossing at 1.3115. Second support is the 50-day moving average crossing at 1.3024.  

The June Swiss Franc was lower overnight. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If June resumes the decline off January's high, weekly support crossing at 0.9902 is the next downside target. If June extends the rally off February's low, the 50-day moving average crossing at 1.0191 is the next upside target. First resistance is the 50-day moving average crossing at 1.0191. Second resistance is the reaction high crossing at 1.0223. First support is February's low crossing at 1.0019. Second support is weekly support crossing at 0.9902. 

The June Canadian Dollar was lower overnight as it extends the decline off last-week's high.  Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends the decline off February's high, the reaction low crossing at 75.04 is the next downside target. Closes above the 10-day moving average crossing at 75.86 would temper the bearish outlook. First resistance is the 38% retracement level of the 2017-2018-decline crossing at 76.86. Second resistance is the 50% retracement level of the October-December-decline crossing at 77.91. First support is the reaction low crossing at 75.04. Second support is December's low crossing at 73.47.

The June 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 June extends the decline off January's high, November's low crossing at 0.0896 is the next downside target. Closes above the 20-day moving average crossing at 0.0911 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 0.0911. Second resistance is the reaction high crossing at 0.0922. First support is the 87% retracement level of the November-January rally crossing at 0.0900. Second support is November's low crossing at 0.0896.

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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If April extends the decline off February's high, the 50% retracement level of the September-February-rally crossing at 1273.20 is the next downside target. Closes above the 20-day moving average crossing at 1317.30 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 1317.30. Second resistance is February's high crossing at 1349.80. First support is Monday's low crossing at 1283.80. Second support is the 50% retracement level of the September-February-rally crossing at 1273.20.

May silver was steady to slightly higher overnight. 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 aforementioned decline, the 62% retracement level of the November-January-rally crossing at 14.935 is the next downside target. Closes above the 20-day moving average crossing at 15.751 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 15.751. Second resistance is February's high crossing at 16.295. First support is Monday's low crossing at 15.075. Second support is the 62% retracement level of the November-January-rally crossing at 14.935. 

May copper was higher overnight as it consolidated some of Monday's loss. The high-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. Closes below the 20-day moving average crossing at 287.55 are needed to confirm that a short-term top has been posted. 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. 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 287.55. Second support is the 50-day moving average crossing at 276.18.  

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

May corn was steady to fractionally lower overnight as it consolidated some of the gains off last Friday's low. Stochastics and the RSI are neutral to bullish hinting that a low might be in or is near. The low-range trade overnight sets the stage for a steady to lower opening when the day session begins trading. Closes above the 20-day moving average crossing at 3.80 1/2 are needed to confirm that a short-term low has been posted. If May extends the decline off January's high, September's low crossing at 3.63 1/4 is the next downside target.First resistance is the 10-day moving average crossing at 3.76 3/4. Second resistance is the 20-day moving average crossing at 3.80 1/2. 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 the decline off January's high, weekly support crossing at 4.43 1/2 is the next downside target. Closes above the 20-day moving average crossing at 4.93 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 4.69 1/2. Second resistance is the 20-day moving average crossing at 4.93. First support is psychological support crossing at 4.50. Second support is weekly support crossing at 4.43 1/2.

May Kansas City Wheat closed down 1 3/4-cents at 4.43.

May Kansas City wheat closed lower on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday 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 4.77 1/2 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 4.52 3/4. Second resistance is the 20-day moving average crossing at 4.77 1/2. First support is last Friday's low crossing at 4.32 1/2. Second support is weekly support crossing at 4.17 3/4.  

May Minneapolis wheat was steady to fractionally lower overnight as it extends the consolidation pattern of the past two weeks. 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 bearish signaling that sideways to lower prices are possible near-term. If May resumes the decline off January's high, weekly support crossing at 5.44 1/2 is the next downside target. Closes above the reaction high crossing at 5.73 are needed to confirm that a short-term low has been posted. 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 lower overnight as they consolidates some of the gains off last-Friday's low. 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the reaction high crossing at 9.34 1/4 are needed to temper the near-term bearish outlook. If May renews the decline off February's high, December's low crossing at 8.93 1/2 is the next upside target. First resistance is the reaction high crossing at 9.34 1/2. Second resistance is February's high crossing at 9.45. 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 lower overnight as it consolidates some of its gains off last-Friday's low. The low-range close sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are neutral to bullish hinting that a low might be in or is near. Closes above the reaction high crossing at 314.70 are needed to temper the near-term bearish outlook. If May extends the decline off January's high, psychological support crossing at 300.00 is the next downside target. First resistance is the reaction high crossing at 314.70. Second resistance is February's high crossing at 321.30. First support is last-Friday's low crossing at 302.80. Second support is psychological support crossing at 300.00.  

May soybean oil was 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 neutral to bearish signaling that sideways to lower prices are possible near-term. If May renews the decline off February's high, the 50-day moving average crossing at 29.66 is the next downside target. If May renews the rally off February's low, February's high crossing at 31.32 is the next upside 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 29.66.

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

April hogs closed up $0.93 at $57.33. 

April hogs closed higher on Monday. The mid-range close sets the stage for a steady opening when Tuesday'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 57.84 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 57.84. Second resistance is the reaction high crossing at 61.33. First support is February's low crossing at 52.25. Second support is weekly support crossing at 51.27.   

April cattle closed down $1.20 at 128.35. 

April cattle closed lower on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at 127.03 are needed to 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 last Friday's high crossing at 130.45. Second resistance is weekly resistance crossing at 134.55. First support is the 50-day moving average crossing at 127.03. Second support is February's low crossing at 125.75.   

April Feeder cattle closed down $0.03 at $146.02. 

April Feeder cattle closed slightly lower on Monday following last-Friday's key reversal down. The mid-range close sets the stage for a steady to lower opening when Tuesday's 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 144.37 would confirm that a short-term top has been posted. If April extends the rally off January's low, December's high crossing at 147.83 is the next upside target. 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 Monday. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends this winter's decline, weekly support crossing at 95.10 is the next downside target. Closes above the 20-day moving average crossing at 10.21 are needed to confirm that a low has been posted. 

May cocoa closed sharply lower on Monday as it renewed the decline off December's high. The low-range close sets the stage for a steady to lower opening on Tuesday. 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 February's high, December's low crossing at 21.12 is the next downside target. Closes above the 50-day moving average crossing at 23.14 would confirm that a low has been posted.         

May sugar closed lower on Monday as it extends the decline off February's high. The low-range close set the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends the aforementioned decline, January's low crossing at 11.82 is the next downside target. Closes above the 10-day moving average crossing at 12.97 would confirm that a low has been posted.   

May cotton closed lower on Monday. The low-range close sets the stage for a steady to lower opening on Tuesday. 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 73.89 would confirm that a short-term low has been posted. 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.