INO Evening Market Comments
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Started by tallpine - March 14, 2019, 3:37 p.m.

KEY EVENTS TO WATCH FOR:



Friday, March 15, 2019 



8:30 AM ET. March Empire State Manufacturing Survey



                       Mfg Idx (previous 8.8)



                       Employment Idx (previous 4.1)



                       New Orders Idx (previous 7.5)



                       Prices Received (previous 22.9)



9:15 AM ET. February Industrial Production & Capacity Utilization



                       Industrial Production, M/M% (previous 0.6%)



                       Capacity Utilization %  (previous 78.2%)



                       Capacity Utilization, Net Chg (Pts) (previous -0.6)



10:00 AM ET. March University of Michigan Survey of Consumers – preliminary



                       Mid-Mo Sentiment (previous 95.5)



                       Mid-Mo Expectations (previous 86.2)



                       Mid-Mo Current Idx (previous 110.0)



10:00 AM ET. January Metropolitan Area Employment & Unemployment



10:00 AM ET. January Job Openings & Labor Turnover Survey



4:00 PM ET. January Treasury International Capital Data


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



The June NASDAQ 100 posted an inside day with a lower close on Thursday as it consolidated some of rally off last-Friday'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 June extends the rally off December's low, the 87% retracement level of the September-December-decline crossing at 7524.41 is the next upside target. Closes below last-Friday's low crossing at 6965.75 would confirm that a short-term top has been posted. First resistance is the 75% retracement level of the October-December-decline crossing at 7280.27. Second resistance is the 87% retracement level of the October-December-decline crossing at 7524.41. First support is last Friday's low crossing at 6965.75. Second support is the 50-day moving average crossing at 6908.25.  



The June S&P 500 closed lower on Thursday as it consolidated some of the rally off last-Friday'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 June extends the rally off December's low, the 87% retracement level of the September-December-decline crossing at 2879.73 is the next upside target. Closes below last Friday's low crossing at 2728.00 would confirm that a short-term top has been posted. First resistance is Wednesday's high crossing at 2826.00. Second resistance is the 87% retracement level of the September-December-decline crossing at 2879.73. First support is last Friday's low crossing at 2728.00. Second support is the 50-day moving average crossing at 2703.08.  



The Dow posted a quiet inside day with a lower close on Thursday as it consolidated some of this week's rally. The mid-range close sets the stage for a steady opening when Friday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 25,797.79 are needed to temper the near-term bearish outlook. Closes above the 87% retracement level of the October-December-decline crossing at 26,282.97 are needed to renew the rally off December's low. If the Dow renews the decline off February's high, the 50-day moving average crossing at 25,013.47 would confirm that a short-term top has been posted. First resistance is the 87% retracement level of the October-December-decline crossing at 26,282.97. Second resistance is the October 2018 high crossing at 26,951.81. First support is last Friday's low crossing at 25,252.46. Second support is the 50-day moving average crossing at 25,013.47.



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



June T-bonds closed down 19/32's at 145-17.



June T-bonds 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 poised to turn neutral to bearish with additional weakness. Closes below the 10-day moving average crossing at 145-08 would temper the near-term friendly outlook. If June extends the rally off March's low, January's high crossing at 147-31 is the next upside 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 closed down 50-pts. at 122.225.



June T-notes closed lower on Thursday as they consolidated some of the rally off March's low. 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the aforementioned rally. January's high crossing at 123.175 is the next upside target. Closes below the 50-day moving average crossing at 122.076 would confirm that a short-term top has been posted. First resistance is Tuesday's high crossing at 122.310. Second resistance is January's high crossing at 123.175. First support is the 38% retracement level of the October-December-rally crossing at 121.063. Second support is the 50% retracement level of the October-December-decline crossing at 120.150.        



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



April crude oil closed higher on Thursday and above the upper boundary of the trading range of the past four-weeks. The high-range close sets the stage for a steady to higher opening when Friday's night session begins. 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 50% retracement level of the October-December-decline crossing at 59.51 is the next upside target. Closes below the 50-day moving average crossing at 54.24 are needed to confirm that a short-term top has been posted. First resistance is the 50% retracement level of the October-December-decline crossing at 59.51. Second resistance is the 62% retracement level of the October-December-decline crossing at 63.44. First support is the 50-day moving average crossing at 54.24. Second support is the reaction low crossing at 51.62.  



April heating oil closed lower on Thursday while extending the trading range of the past four-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 sideways to lower prices are possible near-term. Closes below last Friday's low crossing at 194.52 are needed to confirm that a short-term top has been posted. 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 50% retracement level of the October-December-decline crossing at 202.41. Second resistance is the 62% retracement level of the October-December-decline crossing at 212.17. First support is last-Friday's low crossing at 194.52. Second support is the 50-day moving average crossing at 191.67. 



April unleaded gas 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, 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 50% retracement level of the October-December-decline crossing at 188.70 is the next upside target. Closes below the 20-day moving average crossing at 176.91 are needed to confirm that a short-term top has been posted. First resistance is today's high crossing at 188.22. Second resistance is the 50% retracement level of the October-December-decline crossing at 188.70. First support is the 20-day moving average crossing at 176.92. Second support is the 50-day moving average crossing at 167.03.



April Henry natural gas closed higher on Thursday filling Monday's gap crossing at 2.856. 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 April renews 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 2.785 would confirm that a short-term top has been posted. First resistance is Monday's gap crossing at 2.856. Second resistance is the 75% retracement level of the November-February decline crossing at 2.938. First support is the 20-day moving average crossing at 2.785. Second support is the reaction low crossing at 2.732.       



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



The June Dollar posted an inside day with a higher close on Thursday as it consolidated some of this week's decline.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 June extends this week's decline, the 50-day moving average crossing at 95.60 is the next downside target. If June renews the rally off February's low, weekly resistance crossing at 97.83 is the next upside target. First resistance is last-Thursday's high crossing at 97.16. Second resistance is weekly resistance crossing at 97.83. First support is the 50-day moving average crossing at 95.60. Second support is the late-February low crossing at 95.24.    



The June Euro closed lower on Thursday as it consolidates some of the rally off March'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 neutral to bullish signaling that sideways to higher prices are possible near-term. Multiple closes above the 20-day moving average crossing at 114.18 are needed to confirm that a short-term low has been posted. If June renews the decline off January's high, the January-2017 low crossing at 110.16 is the next downside target.First resistance is the 20-day moving average crossing at 114.18. Second resistance is the 50-day moving average crossing at 114.93. First support is the 87% retracement level of the 2016-2018 rally crossing at 112.62. Second support is the January 2017 low crossing at 110.16.     



The June British Pound closed lower on Thursday as it consolidated some of Wednesday's rally. 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 bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off January's low, the 50% retracement level of the April-December-2018 decline crossing at 1.3603 is the next upside target. Closes below the 50-day moving average crossing at 1.3084 would confirm that a short-term top has been posted. First resistance is Wednesday's high crossing at 1.3441. Second resistance is the 50% retracement level of the April-December-2018 decline crossing at 1.3603. First support is the 50-day moving average crossing at 1.3084. Second support is February's low crossing at 1.2854.   



The June Swiss Franc 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 1.0068 are needed to confirm that a short-term low has been posted. If June resumes this winter's decline, weekly support crossing at 0.9902 is the next downside target. First resistance is the 20-day moving average crossing at 1.0068. Second resistance is the 50-day moving average crossing at 1.0153. First support is last-Thursday's low crossing at 0.9970. Second support is weekly support crossing at 0.9902.



The June Canadian Dollar closed lower on Thursday as it consolidated some of this week's short covering rebound. 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 75.50 are needed to temper the near-term bearish outlook. If June renews the decline off February's high, December's low crossing at 74.47 is the next downside target. First resistance is the 20-day moving average crossing at 75.50. Second resistance is the reaction high crossing at 76.46. First support is last-Friday's low crossing at 74.43. Second support is December's low crossing at 73.47.  



The June Japanese Yen closed lower on Thursday hinting that the corrective rebound off March's low might have 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 sideways to lower prices are possible near-term. If June resumes the decline off January's high, November's low crossing at 0.0893 is the next downside target. Closes above last-Friday's high crossing at 0.0911 are needed to confirm that a short-term low has been posted. First resistance is the reaction high crossing at 0.0915. 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 0.0893.  



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



April gold closed sharply lower on Thursday as it consolidates some of the rally off March'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 neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 1311.20 are needed to confirm that a short-term low has been posted. If April renews the aforementioned decline, the 50% retracement level of the August-February-rally crossing at 1273.20 is the next downside target. First resistance is the 20-day moving average crossing at 1311.20. Second resistance is February's high crossing at 1349.80. First support is January's low crossing at 1281.50. Second support is the 50% retracement level of the August-February-rally crossing at 1273.20.



May silver closed sharply lower on Thursday as it consolidates some of the rally off last-Thursday'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 neutral to bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing at 15.562 are needed to confirm that a low has been posted. If May renews the decline off February's high, the 62% retracement level of the November-February-rally crossing at 14.935 is the next downside target. First resistance is the 20-day moving average crossing at 15.562. Second resistance is the 50-day moving average crossing at 15.695. First support is the 62% retracement level of the November-February-rally crossing at 14.935. Second support is the 75% retracement level of the November-February-rally crossing at 14.644.          



May copper 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 a short-term top might be in or is near. Closes below last-Friday's low crossing at 287.45 are needed to confirm that a short-term top has been posted. If March renews the rally, 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 is the 62% retracement level of the April-December-2018 decline crossing at 306.69. First support is last-Friday's low crossing at 287.45. Second support is the 50-day moving average crossing at 279.43. 



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



May Corn closed up 3 1/2-cents at 3.70. 



May corn closed higher due to short covering on Thursday as it consolidates some of this year's decline. Today's high-range close sets the stage for a steady to higher opening when Friday's night sessions begins trading. Stochastics and the RSI are oversold and are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 3.73 3/4 are needed to confirm that a short-term low has been posted. If May extends the decline off November's high, weekly support crossing at 3.55 1/4 is the next downside target. First resistance is the 20-day moving average crossing at 3.73 3/4. Second resistance is the 50-day moving average crossing at 3.81 1/2. First support is Tuesday's low crossing at 3.61. Second support is weekly support crossing at 3.55 1/4.  



May wheat closed up 5-cents at 4.52 1/4. 



May wheat closed higher due to short covering 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 4.66 are needed to confirm that a short-term low has been posted. If May resumes this winter's decline, weekly support crossing at 4.19 1/4 is the next downside target. First resistance is the 20-day moving average crossing at 4.66. Second resistance is the 50-day moving average crossing at 5.00 1/4. First support is Monday's low crossing at 4.27. Second support is weekly support crossing at 4.19 1/4.     



May Kansas City Wheat closed down a 1/4-cent at 4.36 1/2.

 

May Kansas City wheat closed fractionally lower on Thursday. The low-range close sets the stage for a steady to lower opening when Friday night session begins trading. Stochastics and the RSI are neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 4.49 1/4 are needed to confirm that a short-term low has been posted. If May renews the decline off December's high, weekly support crossing at 4.17 3/4 is the next downside target. First resistance is the 20-day moving average crossing at 4.49 1/4. Second resistance is the 50-day moving average crossing at 4.87. First support is Tuesday's low crossing at 4.18 1/4. Second support is weekly support crossing at 4.17 3/4.  



May Minneapolis wheat closed up 2-cents at 5.52 1/2. 



May Minneapolis wheat closed higher 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 session begins trading. Stochastics and the RSI are turning neutral to bullish hinting that a short-term low might be in or is near. Closes above the 50-day moving average crossing at 5.66 1/4 are needed to confirm that a low has been posted. If May renews the decline off January's high, weekly support crossing at 5.23 3/4 is the next downside target. First resistance is January's high crossing at 5.83 3/4. Second resistance is December's high crossing at 5.93 3/4. First support is Monday's low crossing at 5.44. Second support is weekly support crossing at 5.23 3/4.    



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



May soybeans closed down 2-cents at 8.99.



May 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 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 9.10 3/4 are needed to confirm that a short-term low has been posted. If May extends the decline off February's high, the November 26th low crossing at 8.84 3/4 is the next downside target. First resistance is the 10-day moving average crossing at 9.02 1/2. Second resistance is the 20-day moving average crossing at 9.10 3/4. First support is Tuesday's low crossing at 8.87 3/4. Second support is the November 26th low crossing at 8.84 3/4.  



May soybean meal closed up $1.70 at 306.40. 



May soybean meal closed higher 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 have turned neutral to bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing at 307.40 are needed to confirm that a short-term low has been posted. If May extends the decline off January's high, psychological support crossing at 300.0 is the next downside target. First resistance is the 20-day moving average crossing at 307.40. Second resistance is the reaction high crossing at 313.00. First support is Tuesday's low crossing at 300.30. Second support is psychological support crossing at 300.00.  



May soybean oil closed down 40-pt. at 29.53. 



May soybean oil 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 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 30.13 are needed to confirm that a short-term low has been posted. First resistance is the reaction high crossing at 30.64. Second resistance is the reaction high crossing at 31.16. 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 $2.33 at $65.80. 



April hogs closed higher 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 February's low, the 75% retracement level of the November-February-decline crossing at 68.12 is the next upside target. Closes below the 20-day moving average crossing at 58.15 would temper the near-term bullish outlook. First resistance is the 62% retracement level of the November-February-decline crossing at 65.30. Second resistance is the 75% retracement level of the November-February-decline crossing at 68.12. First support is the 20-day moving average crossing at 58.15. Second support is February's low crossing at 52.25. 



April cattle closed up $0.73 at 127.40. 



April cattle closed higher on Thursday but remains below the 50-day moving average crossing at 127.49 confirming that a short-term top has been posted. 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If April extends this week's decline, the 25% retracement level of the 2018-2019-rally crossing at 125.41 is the next downside target. Closes above last-Friday's high crossing at 129.88 would temper the bearish outlook. First resistance is February's high crossing at 130.45. Second resistance is weekly resistance crossing at 134.55. First support is the 25% retracement level of the 2018-2019-rally crossing at 125.41. Second support the 38% retracement level of the 2018-2019-rally crossing at 122.76. 

 

April Feeder cattle closed up $0.53 at $144.65. 



April Feeder cattle closed higher on Thursday. The mid-range close sets the stage for a steady to higher opening when Friday's session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below last-Wednesday's low crossing at 143.50 would confirm that a short-term top has been posted. Closes above trading range resistance crossing at 147.83 would confirm an upside breakout of the trading range while opening the door for additional gains near-term. 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 low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are turning neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 9.88 are needed to confirm that a low has been posted. If May extends this winter's decline, weekly support crossing at 92.45 is the next downside target. 



May cocoa closed slightly 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 bullish signaling a short-term low has been posted. Closes above the 50-day moving average crossing at 22.87 are needed to confirm that a low has been posted. If May renews the decline off February's high, December's low crossing at 21.12 is the next downside target.          



May sugar closed slightly higher on Thursday. The low-range close set the stage for a steady to lower opening on Friday. Stochastics and the RSI are turning neutral to bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing at 12.67 would confirm that a low has been posted. If May extends the aforementioned decline, January's low crossing at 11.82 is the next downside target.    



May cotton closed lower on Thursday as it consolidates some of the rally off February's low. The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If May extends the rally off February's low, January's high crossing at 76.14 is the next upside target. 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.    

Comments
By silverspiker - March 14, 2019, 3:58 p.m.
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aaahhhhh     HHHhaaaaaaaaaaa    ..... !!!   Tall pine is headed out early to see one of MetMikes afternoon 1-st Round ads !!!




....   YES INDEEDY !!!   .... THIS WEEKEND LOOK FOR TOMMY FLEETWOOD MAC !!!      


Thursday Mar 14 - Sunday Mar 17, 2019 Airing on: 8:00a-6:00p CDT » • Ponte Vedra Beach 03:58 PM Your Time 02:58 PM PLAYER NAME PLAY-BY-PLAY OFF Tommy Fleetwood Byeong Hun An Brian Harman Rory McIlroy Vaughn Taylor Keegan Bradley Brendan Steele Rory Sabbatini Last updated 1 minutes ago. All tee times are local POS TOTAL THRU ROUND R1 R2 R3 R4 STROKES FedExCup PROJ. STARTING 1 -- -7 F* -7 65 -- -- -- 65 8 59 51 T2 -- -6 F* -6 66 -- -- -- 66 32 84 52 T2 -- -6 F -6 66 -- -- -- 66 58 170 112 T4 -- -5 F* -5 67 -- -- -- 67 10 11 1 T4 -- -5 11* -5 -- -- -- -- -- 57 82 25 T4 -- -5 9* -5 -- -- -- -- -- 38 58 20 T7 -- -4 F* -4 68 -- -- -- 68 93 136 43 T7 -- -4 F* -4 68 -- -- -- 68 112 168 56 SELECT PLAYER TOU

By silverspiker - March 14, 2019, 4:02 p.m.
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.... of Tommy Fleetwood Mac & Cheese dew scrapers links of TPC fame  .....

By metmike - March 14, 2019, 6:12 p.m.
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Thanks tallpine!