KEY EVENTS TO WATCH FOR:

Friday, March 8, 2019  

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

                       Non-Farm Payrolls (expected +180K; previous +304K)

                       Unemployment Rate (expected 3.9%; previous 4.0%)

                       Avg Hourly Earnings (USD)  (previous 27.56)

                       Avg Hourly Earnings-Net Chg (USD) (previous +0.03)

                       Avg Hourly Earnings, M/M% (expected +0.3%; previous +0.11%)

                       Avg Hourly Earnings, Y/Y% (previous 2.2%)

                       Overall Workweek (previous 34.5)

                       Overall Workweek Net Chg (previous +0)

                       Government Payrolls (previous +8K)

                       Private Payroll (previous +296K)

                       Participation Rate (previous 63.2%)

                       Non-Farm Payrolls Bench Net Chg (previous -1K)

8:30 AM ET. January New Residential Construction - Housing Starts and Building Permits

                       Total Starts (expected 1.18M; previous 1.078M)

                       Housing Starts, M/M% (expected +9.5%; previous -11.2%)

                       Building Permits (expected 1.29M; previous 1.326M)

                       Building Permits, M/M% (expected -2.7%; previous +0.3%)

12:00 PM ET. World Agricultural Supply & Demand Estimates (WASDE)

                       Corn, End Stocks (Bushels)

                       Soybeans, End Stocks (Bushels)

                       Wheat, End Stocks (Bushels)

                       Cotton, End Stocks (Bales)

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

The STOCK INDEXES:The June NASDAQ 100 was lower overnight pointing to a fifth straight session of losses after a slump in Chinese exports added to concerns about slowing global growth. Investors are also braced for U.S. jobs data due later. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends this week's decline, the 50-day moving average crossing at 6833.46 is the next downside target. If June resumes the rally off December's low, the 75% retracement level of the October-December-decline crossing at 7292.15 is the next upside target. First resistance is Monday's high crossing at 7241.00. Second resistance is the 75% retracement level of the October-December-decline crossing at 7292.15. First support is the 50-day moving average crossing at 6833.42. Second support is the reaction low crossing at 6644.50.  

The June S&P 500 was lower overnight as it extends this week's decline. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends this week's decline, the 50-day moving average crossing at 2677.89 is the next downside target. Closes above the 10-day moving average crossing at 2786.93 would temper the near-term bearish outlook.First resistance is November's high crossing at 2832.80. Second resistance is the 87% retracement level of the September-December-decline crossing at 2879.73. First support is the overnight low crossing at 2740.30. Second support is the 50-day moving average crossing at 2677.89.

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

INTEREST RATES: June T-bonds were steady to slightly lower overnight. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends this week's rally, February's high crossing at 146-17 is the next upside target. If June resumes the decline off February's high, 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 steady to slightly higher overnight as it extends this week's rally. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends this week's rally the reaction high crossing at 122.280 is the next upside target. If June resumes 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 lower overnight while extending the trading range for the past three-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 a short-term top might be in or is near. Closes below the 20-day moving average crossing at 55.75 are needed to confirm that a short-term top has been posted. If April resumes the rally off December's low, the reaction high crossing at 58.70 is the next upside target. First resistance is last-Friday's high crossing at 57.88. Second resistance is the 50% retracement level of the October-December-decline crossing at 59.51. First support is the 20-day moving average crossing at 55.75. Second support is the 50-day moving average crossing at 53.32.  

April heating oil was lower overnight as it extends the trading range of the past three-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. Closes below the 20-day moving average crossing at 198.74 would confirm that a short-term top has been posted while opening the door for additional weakness near-term. If April resumes 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 198.74. Second support is the 50-day moving average crossing at 189.06. 

April unleaded gas was lower overnight as it consolidates some of this week's rally. 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 172.45 would confirm that a short-term top has been posted. If April extends the rally off December's low, the 50% retracement level of the October-December-decline crossing at 188.70 is the next upside target. First resistance is the 50% retracement level of the October-December-decline crossing at 188.70. Second resistance is the 62% retracement level of the October-December-decline crossing at 199.62. First support is the 20-day moving average crossing at 172.45. Second support is the 50-day moving average crossing at 164.22. 

April 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 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 2.753 are needed to confirm that a short-term top has been posted. First resistance is Wednesday's high crossing at 2.896. 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 2.837. Second support is the 20-day moving average crossing at 2.753.

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

CURRENCIES:The June Dollar was lower overnight as it consolidated some of Thursday's rally to a new contract high. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off February's low, weekly resistance crossing at 97.83 is the next upside target. Closes below the 10-day moving average crossing at 96.10 would confirm that a short-term top has been posted. First resistance is Thursday's high crossing at 97.16. Second resistance is weekly resistance crossing at 97.83. First support is the 10-day moving average crossing at 96.10. Second support is the 50-day moving average crossing at 95.53.

The June Euro was higher overnight as it consolidated some of Thursday's huge loss. 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 becoming oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends the decline off the late-February high, the April-10th-2017 low crossing at 111.05 is the next downside target. Closes above the 20-day moving average crossing at 114.25 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 114.25. Second resistance is the 50-day moving average crossing at 115.10. First support is the 87% retracement level of the 2016-2018-rally crossing at 112.62. Second support is the April-10th-2017 low crossing at 111.05.   

The June British Pound was lower overnight as it extends this week's decline. The low-range overnight trade sets the stage for a steady to lower opening when the day session beings trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 1.3136 are needed to confirm that a short-term top has been posted. If June resumes 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 1.3136. Second support is the 50-day moving average crossing at 1.3047.  

The June Swiss Franc was slightly higher overnight as it consolidates some of Thursday's loss. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends the decline off the late-February high, weekly support crossing at 0.9902 is the next downside target. Closes above the 20-day moving average crossing at 1.0077 are needed to confirm that a low has been posted. First resistance is the 20-day moving average crossing at 1.0077. Second resistance is the 50-day moving average crossing at 1.0175. First support is Thursday's low crossing at 0.9970. Second support is weekly support crossing at 0.9902. 

The June Canadian Dollar 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 June extends the aforementioned decline, December's low crossing at 73.47 is the next likely downside target. Closes above the 20-day moving average crossing at 75.58 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 75.58. Second resistance is the late-February high crossing at 76.46. First support is the overnight low crossing at 74.43. Second support is December's low crossing at 73.47.

The June Japanese Yen was higher overnight as it consolidates some of the decline off January's high. Stochastics and the RSI are turning neutral to bullish signaling that a short-term low might be in or is near. Closes above the 20-day moving average crossing at 0.0909 are needed to confirm that a short-term low has been posted. If June resumes the decline off January's high, last-November's low crossing at 0.0893 is the next downside target. First resistance is the 20-day moving average crossing at 0.0909. 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 last-November's low crossing at 0.0893.

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

PRECIOUS METALS: April gold was higher overnight as it consolidates some of 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 1313.50 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 1313.50. Second resistance is February's high crossing at 1349.80. First support is Thursday's low crossing at 1280.80. Second support is the 50% retracement level of the September-February-rally crossing at 1273.20.

May silver was higher overnight as it consolidates some of 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 May extends the decline off February's high, 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 15.636 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 15.403. Second resistance is the 20-day moving average crossing at 15.636. First support is Thursday's low crossing at 14.985. Second support is the 62% retracement level of the November-January-rally crossing at 14.935. 

May copper was lower overnight as it extends this week's decline. The low-range 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. Closes below the 20-day moving average crossing at 288.62 are needed to confirm that a short-term top has been posted. If May renews 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 288.62. Second support is the 50-day moving average crossing at 277.51.  

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

May corn was higher overnight as it consolidates some of this week's losses. All eyes are on today's WASDE supply-demand report for near-term direction. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. The mid-range trade overnight sets the stage for a steady to higher opening when the day session begins trading. If May extends the decline off January's high, September's low crossing at 3.63 1/4 is the next downside target.Closes above the 20-day moving average crossing at 3.77 1/2 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 3.72 1/2. Second resistance is the 20-day moving average crossing at 3.77 1/2. First support is last-September low crossing at 3.63 1/4. Second support is psychological support crossing at 3.50.  

May wheat was higher due to short covering overnight as it consolidates some of this winter'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 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 4.19 1/4 is the next downside target. Closes above the 20-day moving average crossing at 4.81 1/2 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 4.57. Second resistance is the 20-day moving average crossing at 4.81 1/2. First support is Thursday's low crossing at 4.37 1/2. Second support is long-term support crossing at 4.19 1/4.

May Kansas City Wheat closed down 11-cents at 4.27 1/2.

May Kansas City wheat posted a new low close for the year on Thursday as it extends this year's decline. The low-range close sets the stage for a steady to lower opening when Friday 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 4.66 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 4.45 1/2. Second resistance is the 20-day moving average crossing at 4.66. First support is today's low crossing at 4.27 1/2. Second support is weekly support crossing at 4.17 3/4.  

May Minneapolis wheat was lower overnight as it extends the consolidation pattern of the past three-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 fractionally higher overnight. The high-range overnight trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are oversold but 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 8.93 1/2 is the next upside target. Closes above Monday's high crossing at 9.24 3/4 are needed to temper the near-term bearish outlook. 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 December's low crossing at 8.93 1/2. Second support is the November-26th low crossing at 8.84 3/4.

May soybean meal was slightly higher overnight as it consolidates some of Wednesday's loss. 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 bearish signaling that sideways to lower prices are possible near-term. Closes above the 50-day moving average crossing at 313.70 are needed to confirm that a short-term low has been posted. If May resumes the decline off January's high, psychological support crossing at 300.00 is the next downside target. First resistance is the 50-day moving average crossing at 313.70. 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 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 February's high, the 62% retracement level of the November-February-rally crossing at 29.08 is the next downside target. Closes above the 20-day moving average crossing at 30.31 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 30.09. Second resistance is the 20-day moving average crossing at 30.31. First support is the 50% retracement level of the November-February-rally crossing at 29.51. Second support is the 62% retracement level of the November-February-rally crossing at 29.08.

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

April hogs closed up $0.65 at $57.73. 

April hogs closed higher on Thursday. 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 neutral to bullish signaling that sideways to higher prices are possible near-term. If April extends the rally off February's low, the reaction high crossing at 61.32 is the next upside target. Closes below the 10-day moving average crossing at 56.30 would temper the near-term bullish outlook. First resistance is the reaction high crossing at 61.32. Second resistance is the 50-day moving average crossing at 61.89. First support is February's low crossing at 52.25. Second support is weekly support crossing at 51.27.   

April cattle closed up $0.05 at 128.95. 

April cattle closed higher on Thursday. 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 neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at 127.28 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 127.28. Second support is February's low crossing at 125.75.   

April Feeder cattle closed up $2.35 at $146.00. 

April Feeder cattle closed higher on Thursday and above the 20-day moving average crossing at 145.74 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 session begins trading. Stochastics and the RSI are oversold and are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If April extends the decline off February's high, January's low crossing at 142.63 is the next downside target. First resistance is February's high crossing at 147.33. Second resistance is December's high crossing at 147.83. 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 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. If May renews this winter's decline, weekly support crossing at 95.10 is the next downside target. Closes above the 20-day moving average crossing at 10.06 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 bullish with additional strength, that would signal a short-term low has been posted. Closes above the 50-day moving average crossing at 23.08 are needed to confirm that a low has been posted. If May extends the decline off February's high, December's low crossing at 21.12 is the next downside target.         

May 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 oversold but remain 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 20-day moving average crossing at 12.75 would confirm that a low has been posted.   

May cotton 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 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. If May extends the rally off February's low, January's high crossing at 76.14 is the next upside target.