KEY EVENTS TO WATCH FOR:

Tuesday, April 2, 2019  

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

                       Chain Store Sales, W/W% (previous +3.0%)

                       Chain Store Sales, M/M% (previous +0.1%)

8:00 AM ET. FINRA Diversity Summit

8:30 AM ET. February Advance Report on Durable Goods

                       Durable Goods-SA, M/M% (expected -1.8%; previous +0.4%)

                       Dur Goods, Ex-Defense, M/M% (previous +0.7%)

                       Dur Goods, Ex-Transport, M/M% (previous -0.1%)

                       Orders: Cap Gds, Non-Def, Ex-Air, M/M% (previous +0.8%)

                       Shipmnts: Cap Gds, Non-Def, Ex-Air, M/M% (previous +0.8%)

8:55 AM ET. Johnson Redbook Retail Sales Index

                       Ret Sales Mo-to-Date, M/M% (previous +0.1%)

                       Ret Sales Mo-to-Date, Y/Y% (previous +4.8%)

                       Latest Wk, Y/Y% (previous +5.3%)

9:45 AM ET. March ISM-NY Report on Business

                       Business Index (previous 61.1)

4:00 PM ET. March Domestic Auto Industry Sales

                       Auto Sales Annualized (previous 17.1M)

4:30 PM ET. API Weekly Statistical Bulletin

                       Crude Stocks, Net Chg (Bbls) (previous +1.9M)

                       Gasoline Stocks, Net Chg (Bbls) (previous -3.5M)

                       Distillate Stocks, Net Chg (Bbls) (previous -5.3M)

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

The STOCK INDEXES:The June NASDAQ 100 was steady to slightly higher overnight as it extends Monday's rally after better-than-expected China manufacturing data calmed concerns about momentum for the world’s second-biggest economy. The high-range overnight trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. If June resumes the rally off December's low, last-October's high crossing at 7767.00 is the next upside target. Closes below the 20-day moving average crossing at 7323.70 would confirm that a short-term top has been posted. First resistance is the 87% retracement level of the October-December-decline crossing at 7524.41. Second resistance is the October 3^rd 2018 high crossing at 7767.00. First support is the 20-day moving average crossing at 7323.70. Second support is the 50-day moving average low crossing at 7121.77.  

The June S&P 500 was slightly lower overnight as it consolidates some of Monday's rally. 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 the reaction low crossing at 2792.40 would confirm that a short-term top has been posted. First resistance is Monday's high crossing at 2873.50. Second resistance is the 87% retracement level of the September-December-decline crossing at 2879.73. First support is the reaction low crossing at 2792.40. Second support is the 50-day moving average crossing at 2768.86.

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

INTEREST RATES: June T-bonds were higher in overnight trading as they consolidate some of Monday's decline. 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 147-08 are needed to confirm that a short-term top has been posted. If June resumes the rally off March's low, weekly resistance crossing at 152-01 is the next upside target. First resistance is March's high crossing at 150-21. Second resistance is weekly resistance crossing at 152-01. First support is the 20-day moving average crossing at 147-08. Second support is the 50-day moving average crossing at 146-01.

June T-notes were higher overnight as they consolidate some of Monday's decline. Stochastics and the RSI are neutral to bearish hinting that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 123.116 would confirm that a short-term top has been posted. If June resumes the rally off March's low, weekly resistance crossing at 125.265 is the next upside target.First resistance is March's high crossing at 124.310. Second resistance is weekly resistance crossing at 125.265. First support is the 20-day moving average crossing at 123.116. Second support is the 50-day moving average crossing at 122.208.

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

May crude oil was higher overnight as it extends the rally off December'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 May extends the rally off December's low, the 62% retracement level of the October-December-decline crossing at 63.39 is the next upside target. Closes below the 20-day moving average crossing at 59.00 are needed to confirm that a short-term top has been posted. First resistance is the overnight high crossing at 62.19. Second resistance is the 62% retracement level of the October-December-decline crossing at 63.39. First support is the 20-day moving average crossing at 59.00. Second support is the 50-day moving average crossing at 56.79.  

May heating oil was higher overnight while extending the February-March trading range. 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 bullish signaling that sideways to higher prices are possible near-term. If May resumes the rally off December's low, the 62% retracement level of the October-December-decline crossing at 211.17 is the next upside target. Closes below the reaction low crossing at 193.69 would confirm a downside breakout of the February-March trading range. First resistance is the 62% retracement level of the October-December-decline crossing at 211.17. Second resistance is the 75% retracement level of the October-December-decline crossing at 221.89. First support is the 50-day moving average crossing at 195.75. Second support is the reaction low crossing at 193.69. 

May unleaded gas was higher overnight. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. If May extends the rally off December's low, the 62% retracement level of the October-December-decline crossing at 200.45 is the next upside target. Closes below last-Thursday's low crossing at 181.47 would confirm that a short-term top has been posted. First resistance is the 50% retracement level of the October-December-decline crossing at 189.65. Second resistance is the 62% retracement level of the October-December-decline crossing at 200.45. First support is last-Thursday's low crossing at 181.47. Second support is the 50-day moving average crossing at 175.42. 

May Henry natural gas was slightly lower overnight. The mid-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 March's high, the reaction low crossing at 2.620 is the next downside target. Closes above the 20-day moving average crossing at 2.793 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 2.747. Second resistance is the 20-day moving average crossing at 2.793. First support is last-Friday's low crossing at 2.656. Second support is the Feb. 15^th reaction low crossing at 2.620.

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

CURRENCIES:The June Dollar was higher overnight as it extends the rally off March's low. 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 March's low, March's high crossing at 97.16 is a potential upside target. Closes below the 50-day moving average crossing at 95.92 would signal that a short-term top has been posted. First resistance is March's high crossing at 97.16. Second resistance is weekly resistance crossing at 97.83. First support is the 20-day moving average crossing at 96.34. Second support is the 50-day moving average crossing at 95.92.

The June Euro was lower overnight and tested the 87% retracement level of the 2016-2018-rally crossing at 112.62 as it extends the decline off March's high. 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 June extends the aforementioned decline, the January-2017 low crossing at 110.16 is the next downside target. Closes above the 20-day moving average crossing at 113.69 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 113.68. Second resistance is the 50-day moving average crossing at 114.37. 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 was lower overnight. 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 neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below March's low crossing at 1.3026 would confirm that a short-term top has been posted. Closes above the 20-day moving average crossing at 1.3219 would temper the near-term bearish outlook. First resistance is March's high crossing at 1.3441. Second resistance is the 50% retracement level of the 2018 decline crossing at 1.3603. First support is March's low crossing at 1.3026. Second support is February's low crossing at 1.2854.  

The June Swiss Franc was slightly lower overnight. 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 1.0082 would confirm that a short-term top has been posted. If June resumes the rally off March's low, the September-January downtrend line crossing near 1.0226 is the next upside target. First resistance is March's high crossing at 1.0191. Second resistance is the September-January downtrend line crossing near 1.0226. First support is the 20-day moving average crossing at 1.0082. Second support is March's low crossing at 0.9970. 

The June Canadian Dollar was steady to slightly lower overnight. 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 75.46 are needed to confirm that a short-term low has been posted. If June renews the decline off February's high, December's low crossing at 73.47 is the next likely downside target. First resistance is the 50-day moving average crossing at 75.46. Second resistance is the late-February high crossing at 76.46. First support is March's low crossing at 74.43. Second support is December's low crossing at 73.47.

The June Japanese Yen was steady to slightly lower overnight. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends the decline off March's high, the 87% retracement level of the November-January rally crossing at 0.0900 is the next downside target. Closes above the 50-day moving average crossing at 0.0912 would temper the near-term bearish outlook. First resistance is March's high crossing at 0.0918. Second resistance is the late-January high crossing at 0.0931. 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 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 April extends the decline off March's high, 50% retracement level of the September-February-rally crossing at 1273.20 is the next downside target. Closes above the 50-day moving average crossing at 1309.10 would temper the near-term friendly outlook. First resistance is March's high crossing at 1324.50. Second resistance is February's high crossing at 1349.80. First support is March'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 lower overnight. Stochastics and the RSI are 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 15.284 are needed to confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 15.580. Second resistance is the reaction high crossing at 16.010. First support is the 62% retracement level of the November-January-rally crossing at 14.935. Second support is the 75% retracement level of the November-January-rally crossing at 14.644.

May copper was lower overnight as it consolidates some of the rally off March's low. 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 bullish signaling that sideways to higher prices are possible near-term. 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. Closes below the 50-day moving average crossing at 285.73 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 50-day moving average crossing at 285.73. Second support is the reaction low crossing at 275.95.   

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

May corn was steady to slightly lower overnight following Monday's short covering bounce. The low-range trade overnight sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends this year's decline, psychological support crossing at 3.50 is the next likely downside target. Closes above the 10-day moving average crossing at 3.70 3/4 would confirm that a short-term low has been posted.First resistance is the 10-day moving average crossing at 3.70 3/4. Second resistance is March's high crossing at 3.80 3/4. First support is last-Friday's low crossing at 3.56. Second support is psychological support crossing at 3.50.  

May wheat 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 a short-term top might be in or is near. Closes below the 20-day moving average crossing at 4.56 1/2 would confirm that a short-term top has been posted. If May resumes the rally off March's low, the 50-day moving average crossing at 4.85 1/4 is the next upside target. First resistance is the reaction high crossing at 4.75 1/2. Second resistance is the 50-day moving average crossing at 4.85 1/4. First support is March's low crossing at 4.27. Second support is long-term support crossing at 4.19 1/4.

May Kansas City Wheat closed up 4 1/2-cents at 4.34 1/2.

May Kansas City wheat closed higher on Monday. The high-range close sets the stage for a steady to higher opening when Tuesday night 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 December's high, weekly support crossing at 4.17 3/4 is the next downside target. If May resumes the rally off March's low, the 50-day moving average crossing at 4.69 3/4 is the next upside target. First resistance is last-Tuesday's high crossing at 4.54. Second resistance is the 50-day moving average crossing at 4.69 3/4. First support is March's low crossing at 4.18 1/4. Second support is weekly support crossing at 4.17 3/4.  

May Minneapolis wheat was lower overnight as it extends the decline off March'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 remain neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends the decline off March's high, March's low crossing at 5.54 is the next downside target. Closes above the 10-day moving average crossing at 5.64 1/4 would confirm that a short-term low has been posted. First resistance is March's high crossing at 5.76 3/4. Second resistance is February's high crossing at 5.81 1/4. First support is March'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 were higher overnight as they consolidate some of last-Friday's decline. 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 8.99 1/4 would confirm that a short-term low has been posted. If May extends the decline off February's high, the 75% retracement level of the September-December 2018 rally crossing at 8.78 is the next downside target. First resistance is the 20-day moving average crossing at 8.99 1/4. Second resistance is the reaction high crossing at 9.12. First support is last-Friday's low crossing at 8.83. Second support is the 75% retracement level of the September-December 2018 rally crossing at 8.78.

May soybean meal was slightly higher overnight as it consolidates some of last-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 turning neutral to bullish signaling that a low might be in or is near. Closes above the 50-day moving average crossing at 310.50 would temper the near-term bearish outlook. If May resumes last week's decline, March's low crossing at 300.30 is the next downside target. First resistance is March's high crossing at 316.50. Second resistance is February's high crossing at 321.30. First support is last-Wednesday's low crossing at 303.60. Second support is March's low crossing at 300.30.   

May soybean oil was higher overnight as it consolidates some of this year'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 additional weakness is possible near-term. If May extends the decline off February's high, the 87% retracement level of the November-February-rally crossing at 28.17 is the next downside target. Closes above the 20-day moving average crossing at 29.20 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 29.20. Second resistance is the reaction high crossing at 30.64. First support is last-Friday's low crossing at 28.34. Second support is the 87% retracement level of the November-February-rally crossing at 28.17.