KEY EVENTS TO WATCH FOR:

Thursday, April 11, 2019

8:30 AM ET.  U.S. Weekly Export Sales

                       Corn (Metric Tons) (previous 630.3K)

                       Soybeans (Metric Tons) (previous 1992.2K)

                       Wheat (Metric Tons) (previous 1017.5K)

8:30 AM ET. March PPI

                       PPI, M/M% (expected +0.3%; previous +0.1%)

                       Ex-Food & Energy PPI, M/M% (expected +0.2%; previous +0.1%)

                       Personal Consumption (previous +0.1%)

8:30 AM ET. Unemployment Insurance Weekly Claims Report - Initial Claims

                       Jobless Claims (expected 210K; previous 202K)

                       Jobless Claims, Net Chg (previous -10K)

                       Continuing Claims (previous 1717000)

                       Continuing Claims, Net Chg (previous -38K)

9:45 AM ET. Bloomberg Consumer Comfort Index

10:30 AM ET. EIA Weekly Natural Gas Storage Report

                       Working Gas In Storage (Cbf)  (previous 1130B)

                       Working Gas In Storage, Net Chg (Cbf) (previous +23B)

12:00 PM ET. SEC Closed Meeting

12:00 PM ET. March Monthly U.S. Retail Chain Store Sales Index

4:30 PM ET. Money Stock Measures

4:30 PM ET. Federal Discount Window Borrowings

4:30 PM ET. Foreign Central Bank Holdings

Friday, April 12, 2019  

8:30 AM ET. March Import & Export Price Indexes

                       Import Prices (expected +0.5%; previous +0.6%)

                       Non-Petroleum Prices (previous +0.1%)

                       Petroleum Prices (previous +4.7%)

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

                       Mid-Mo Sentiment (expected 98.0; previous 97.8)

                       Mid-Mo Expectations (previous 89.2)

                       Mid-Mo Current Idx (previous 111.2)

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

The STOCK INDEXES:The June NASDAQ 100 was steady to slightly 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 June extends 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 7474.45 would confirm that a short-term top has been posted. First resistance is the overnight high crossing at 7661.00. Second resistance is the October 3^rd 2018 high crossing at 7767.00. First support is the 20-day moving average crossing at 7474.45. Second support is the 50-day moving average low crossing at 7243.47.  

The June S&P 500 was steady to slightly higher overnight as it consolidates above the 87% retracement level of the September-December-decline crossing at 2879.73.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, last-September high crossing at 2957.90 is the next upside target. Closes below the 20-day moving average crossing at 2853.73 would confirm that a short-term top has been posted. First resistance is Monday's low crossing at 2899.00. Second resistance is last-September's high crossing at 2957.90. First support is the 20-day moving average crossing at 2853.73. Second support is the50-day moving average crossing at 2802.15.

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 remain neutral to bearish signaling that a short-term top might be in or is near. Closes below last-Friday's low crossing at 147-01 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 last-Friday's low crossing at 147-01. Second support is the 50-day moving average crossing at 146-15.

June T-notes were steady to slightly lower overnight. 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 123.085 would confirm that a short-term top has been posted while opening the door for additional weakness and possible test of the 50-day moving average crossing at 122.286. 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 last-Friday's low crossing at 123.085. Second support is the 50-day moving average crossing at 122.286.

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

May crude oil was slightly lower overnight as it consolidates some of the rally off December'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 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 75% retracement level of the October-December-decline crossing at 67.68 is the next upside target. Closes below the 20-day moving average crossing at 61.19 are needed to confirm that a short-term top has been posted. First resistance is Tuesday's high crossing at 64.79. Second resistance is the 75% retracement level of the October-December-decline crossing at 67.68. First support is the 20-day moving average crossing at 61.19. Second support is the 50-day moving average crossing at 58.18.  

May heating oil was steady to slightly lower overnight as it consolidates some of its recent gains. The low-range overnight trade sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If May extends 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 50-day moving average crossing at 198.27 would confirm that a short-term top has been posted. 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 198.27. Second support is the reaction low crossing at 193.69. 

May unleaded gas was lower overnight as it consolidates some of the rally off December's low. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If May extends the rally off December's low, the 75% retracement level of the October-December-decline crossing at 212.54 is the next upside target. Closes below the 20-day moving average crossing at 192.30 would confirm that a short-term top has been posted. First resistance is Wednesday's high crossing at 207.02. Second resistance is the 75% retracement level of the October-December-decline crossing at 212.54. First support is the 10-day moving average crossing at 196.77. Second support is the 20-day moving average crossing at 192.30. 

May Henry natural gas was steady to slightly 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 neutral to bullish signaling that sideways to higher 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 2.739 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 2.739. Second resistance is the 50-day moving average crossing at 2.752. First support is last-Friday's low crossing at 2.632. 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 steady to slightly higher overnight. Stochastics and the RSI have turned neutral to bearish signaling that a double top with March's high might be forming. Closes below the 50-day moving average crossing at 96.16 are needed to confirm that a double top has been posted. If June renews the rally off March's low, March's high crossing at 97.16 is the next upside target.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 96.41. Second support is the 50-day moving average crossing at 96.16.

The June Euro was higher overnight. The mid-range trade overnight sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 113.52 are needed to confirm that a short-term low has been posted. If June resumes the decline off March'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 113.52. Second resistance is the 50-day moving average crossing at 114.06. 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 higher overnight. The high-range overnight trade sets the stage for a steady to higher opening when the day session beings trading. 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 1.3192 would temper the near-term bearish outlook. Closes below March's low crossing at 1.3026 would confirm that a short-term top has been posted. 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 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 June extends the decline off March's high, March's low crossing at 0.9970 is a potential downside target. Closes above the 20-day moving average crossing at 1.0098 would confirm that a short-term low has been posted. First resistance is March's high crossing at 1.0191. Second resistance is the September-January downtrend line crossing near 1.0198. First support is Wednesday's low crossing at 1.0030. Second support is March's low crossing at 0.9970. 

The June Canadian Dollar was lower overnight. Stochastics and the RSI are poised to turn neutral to bearish with additional weakness that would signal sideways to lower prices are possible near-term. Closes above the 50-day moving average crossing at 75.39 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 75.39. 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 slightly lower overnight. Stochastics and the RSI are turning neutral to bullish hinting that a low might be in or is near. Closes above the 50-day moving average crossing at 0.0909 would temper the near-term bearish outlook. If June extends the decline off March's high, December's low crossing at 0.0894 is the next downside target. 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 December's low crossing at 0.0894.

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

PRECIOUS METALS: June gold was 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 1314.50 would temper the near-term bearish outlook. If June extends the decline off March's high, 38% retracement level of the September-February-rally crossing at 1273.10 is the next downside target. First resistance is March's high crossing at 1330.80. Second resistance is February's high crossing at 1356.00. First support is last-Thursday's low crossing at 1284.90. Second support is the 38% retracement level of the September-February-rally crossing at 1273.10.

May silver was lower overnight. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If May resumes the decline off February's high, the 75% retracement level of the November-January-rally crossing at 14.644 is the next downside target. Closes above the 20-day moving average crossing at 15.246 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 15.246. Second resistance is the 50-day moving average crossing at 15.499. 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 slightly lower overnight. The mid-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 bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at 288.77 would 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 50-day moving average crossing at 288.77. Second support is the reaction low crossing at 275.95.   

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

May corn was steady to fractionally higher overnight. The mid-range trade overnight sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are neutral signaling that sideways trading is 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 20-day moving average crossing at 3.67 3/4 would confirm that a short-term low has been posted.First resistance is the 20-day moving average crossing at 3.67 3/4. Second resistance is March's high crossing at 3.80 3/4. First support is Tuesday's low crossing at 3.55 1/4. Second support is psychological support crossing at 3.50.  

May wheat was higher overnight.The high-range overnight trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the reaction low crossing at 4.52 1/2 would confirm that a short-term top has been posted. If May resumes the rally off March's low, the reaction high crossing at 4.97 1/2 is the next upside target. First resistance is the reaction high crossing at 4.75 1/2. Second resistance is the reaction high crossing at 4.97 1/2. First support is the reaction low crossing at 4.52 1/2. Second support is March's low crossing at 4.27. 

May Kansas City Wheat closed down 1 1/4-cents at 4.26 1/4.

May Kansas City wheat closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening when Thursday 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 4.57 3/4 is the next upside target. First resistance is the reaction high crossing at 4.54. Second resistance is the 50-day moving average crossing at 4.57 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 higher due to short covering overnight as it consolidates some of the decline off March's high. 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 and are turning bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 5.50 1/2 would confirm that a short-term low has been posted. If May resumes the decline off March's high, weekly support crossing at 5.15 1/4 is the next downside target. First resistance is the 10-day moving average crossing at 5.34 3/4. Second resistance is the 20-day moving average crossing at 5.50 1/2. First support is Monday's low crossing at 5.21. Second support is weekly support crossing at 5.15 1/4. 

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

May soybeans were steady to fractionally lower in quiet overnight trading. 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. If May renews the rally off March's low, the 50-day moving average crossing at 9.11 is the next upside target. If May resumes 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 50-day moving average crossing at 9.10 1/2. Second resistance is the reaction high crossing at 9.24 3/4. First support is March'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 lower overnight. 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 sideways to higher prices are possible near-term. If May extends the rally off the late-March low, March's high crossing at 316.50 is the next upside target. If May resumes the decline off March's high, 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 the late-March low crossing at 303.60. Second support is March's low crossing at 300.30.   

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 turning neutral to bullish signaling that sideways trading is possible near-term. If May resumes the decline off February's high, the 87% retracement level of the November-February-rally crossing at 28.17 is the next downside target. If May extends the rally off last-Friday's low, the 50-day moving average crossing at 29.77 is the next upside target. First resistance is the 50-day moving average crossing at 29.77. Second resistance is the reaction high crossing at 30.64. First support is March's low crossing at 28.34. Second support is the 87% retracement level of the November-February-rally crossing at 28.17.