KEY EVENTS TO WATCH FOR:

Thursday, June 13, 2019 

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

                       Jobless Claims (expected 215K; previous 218K)

                       Jobless Claims, Net Chg (previous +0)

                       Continuing Claims (previous 1682000)

                       Continuing Claims, Net Chg (previous +20K)

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

                       Import Prices (expected -0.3%; previous +0.2%)

                       Non-Petroleum Prices (previous -0.6%)

                       Petroleum Prices (previous +6.1%)

8:30 AM ET. U.S. Weekly Export Sales

                       Corn (Metric Tons) (previous 14.8K)

                       Soybeans (Metric Tons) (previous 583.7K)

                       Wheat (Metric Tons) (previous 448.0K)

9:45 AM ET. Bloomberg Consumer Comfort Index

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

                       Working Gas In Storage (Cbf) (previous 1986B)

                       Working Gas In Storage, Net Chg (Cbf) (previous +119B)

11:00 AM ET. SEC Closed Meeting

4:30 PM ET. Foreign Central Bank Holdings

4:30 PM ET. Federal Discount Window Borrowings

4:30 PM ET. Money Stock Measures

Friday, June 14, 2019 

8:30 AM ET. May Advance Monthly Sales for Retail & Food Services

                       Overall Sales-SA, M/M% (expected +0.6%; previous -0.2%)

                       Sales, Ex-Auto, M/M% (expected +0.3%; previous +0.1%)

                       Sales, Ex-Auto & Gas, M/M% (previous -0.2%)

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

                       Industrial Production, M/M% (expected +0.1%; previous -0.5%)

                       Capacity Utilization % (expected 77.8%; previous 77.9%)

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

10:00 AM ET. April Manufacturing & Trade: Inventories & Sales

                       Total Inventories (expected +0.4%; previous +0.0%)

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

                       Mid-Mo Sentiment (expected 97.3; previous 102.4)

                       Mid-Mo Expectations (previous 96.0)

                       Mid-Mo Current Idx (previous 112.4)

Monday, June 17, 2019 

8:30 AM ET. June Empire State Manufacturing Survey

                       Mfg Idx (previous 17.8)

                       Employment Idx (previous 4.7)

                       New Orders Idx (previous 9.7)

                       Prices Received (previous 12.4)

10:00 AM ET. June NAHB Housing Market Index

                       Housing Mkt Idx (previous 66)

4:00 PM ET. April Treasury International Capital Data

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

The June NASDAQ 100 closed lower on Tuesday as it consolidated some of the rally off June's low. Closes above the 50-day moving average crossing at 7545.84 would open the door for additional gains near-term. The low-range close sets the stage for a steady to lower opening when Thursday'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 this month's low, April's high crossing at 7879.50 is the next upside target. If June resumes the decline off April's high, the 50% retracement level of the December-April-rally crossing at 6863.36 is the next downside target. First resistance is the 50-day moving average crossing at 7545.84. Second resistance is April's high crossing at 7879.50. First support is June's low crossing at 6941.25. Second support is the 50% retracement level of the December-April-rally crossing at 6863.36.  

The June S&P 500 closed lower on Wednesday as it consolidates some of this month's gains but remain above the 50-day moving average crossing at 2875.10 confirming that a short-term low has been posted. The low-range close sets the stage for a steady to lower opening when Thursday'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 this month's rally, May's high crossing at 2957.30 is the next upside target. If June resumes the decline off May's high, the 38% retracement level of the December-April-rally rally crossing at 2723.23 is the next downside target. First resistance is Tuesday's high crossing at 2911.00. Second resistance is May's high crossing at 2957.30. First support is the 38% retracement level of the December-April-rally crossing at 2723.23. Second support is the 50% retracement level of the December-April-rally crossing at 2650.94.  

The Dow closed lower on Wednesday as it consolidates some of the rally off June's low. The low-range close sets the stage for a steady to lower opening when Thursday'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 the Dow extends this month's rally, April's high crossing at 25,695.96  is the next upside target. Closes below the 10-day moving average crossing at 25,550.24 would confirm that a short-term top has been posted. First resistance is Tuesday's high crossing at 26,248.67. Second resistance is April's high crossing at 26,695.96. First support is the 38% retracement level of the December-May-rally crossing at 24,795.46. Second support is the 50% retracement level of the December-May-rally crossing at 24,204.24.

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June T-bonds closed up 3/32's at 154-11.

June T-bonds closed slightly higher on Wednesday as it extends a two-week old trading range. The mid-range close sets the stage for a steady to higher opening when Thursday'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 20-day moving average crossing at 152-12 would confirm that a short-term top has been posted. If June renews this year's rally, weekly resistance crossing at 156-29 is the next upside target. First resistance is last-Monday's high crossing at 155-22. Second resistance is weekly resistance crossing at 156-29. First support is Tuesday's low crossing at 153-17. Second support is the 20-day moving average crossing at 152-12.          

June T-notes closed up 90-pts. At 126.230.

June T-notes closed higher on Wednesday. The high-range close sets the stage for a steady to higher opening when Thursday'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 20-day moving average crossing at 125.199 would confirm that a short-term top has been posted. If June extends the rally off April's low, weekly resistance crossing at 127.260 is the next upside target. First resistance is last-Friday's high crossing at 127.080. Second resistance is weekly resistance crossing at 127.260. First support is the 10-day moving average crossing at 126.163. Second support is the 20-day moving average crossing at 125.199.       

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

July crude oil closed sharply lower on Wednesday due to concerns over rising inventories. The low-range close sets the stage for a steady to lower opening when Thursday's night session begins. Stochastics and the RSI are neutral to bearish signaling that sideways to higher prices are possible near-term. If July extends the decline off April's high, the 75% retracement level of the December-April-rally crossing at 49.69 is the next downside target. Closes above the 20-day moving average crossing at 57.17 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 53.20. Second resistance is the 20-day moving average crossing at 57.17. First support is last-Wednesday's low crossing at 50.60. Second support isthe 75% retracement level of the December-April-rally crossing at 49.69. 

July heating oil closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening when Thursday's night trading session begins. Stochastics and the RSI are remain neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends the decline off May's high, the 87% retracement level of the December-April-rally rally crossing at 169.59 is the next downside target. Closes above the 20-day moving average crossing at 193.03 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 181.68. Second resistance is the 20-day moving average crossing at 193.03. First support is the 75% retracement level of the December-April-rally crossing at 175.75. Second support is the 87% retracement level of the December-April-rally rally crossing at 169.59. 

July unleaded gas closed lower on Wednesday and is poised to resume the decline off May's high. Stochastics and the RSI are oversold and remain neutral to bearish signaling that sideways to lower prices are possible near-term. The low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. If July resumes the decline off April's high, the 75% retracement level of the December-April-rally crossing at 159.94 is the next downside target. Closes above the 20-day moving average crossing at 185.15 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 173.74. Second resistance is the 20-day moving average crossing at 185.15. First support is the 62% retracement level of the December-April-rally crossing at 168.15. Second support is the 75% retracement level of the December-April-rally crossing at 159.94.

July Henry natural gas closed lower on Wednesday.The low-range close sets the stage for a steady to lower opening when Thursday's night session begins 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 2.516 would confirm that a short-term low has been posted.If July resumes this spring's decline, weekly support crossing at 2.168 is the next downside target. First resistance is the 10-day moving average crossing at 2.404. Second resistance is the 20-day moving average crossing at 2.516. First support is last-Thursday's low crossing at 2.305. Second support is monthly support crossing at 2.168.        

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

The June Dollar closed higher on Wednesday. The high-range close sets the stage for a steady to higher opening when Thursday'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 97.45 are needed to confirm that a short-term low has been posted. If June extends this month's decline, the 38% retracement level of the 2018-2019 rally crossing at 96.04 is the next downside target. First resistance is May's high crossing at 98.26. Second resistance is weekly resistance crossing at 99.90. First support is the 38% retracement level of the 2018-2019 rally crossing at 96.04. Second support is March's low crossing at 95.17.

The June Euro closed lower on Wednesday as it consolidates some of the rally off May's low.The low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. 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 112.28 would confirm that a short-term top has been posted. If June extends the rally off May's low, April's high crossing at 113.86 is the next upside target. First resistance is last-Friday's high crossing at 113.55. Second resistance is April's high crossing at 113.86. First support is May's low crossing at 111.26. Second support is the January-2017 low crossing at 110.16.     

The June British Pound closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that a low might be in or is near. Multiple closes above the 20-day moving average crossing at 1.2707 are needed to confirm that a short-term low has been posted. If June renews the decline off May's high, the October-2016 low crossing at 1.2412 is the next downside target. First resistance is the 20-day moving average crossing at 1.2707. Second resistance is the 50-day moving average crossing at 1.2920. First support is June's low crossing at 1.2568. Second support is the October-2016 low crossing at 1.2412.   

The June Swiss Franc closed lower on Wednesday.The low-range close sets the stage for a steady to lower opening when Thursday'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 20-day moving average crossing at 1.0005 would confirm that a short-term top has been posted. If June extends the rally off April's low, March's high crossing at 1.0191 is the next upside target. First resistance is last-Wednesday's high crossing at 1.0159. Second resistance is March's high crossing at 1.0191. First support is the 20-day moving average crossing at 1.0005. Second support is the reaction low crossing at 0.9906. 

The June Canadian Dollar closed sharply lower on Wednesday as it consolidates some of this month's rally. The low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. 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 74.57 would confirm that a short-term top has been posted. If June extends the rally off June's low, the March-19^th high crossing at 75.64 is the next upside target. First resistance is the April-17^th high crossing at 75.45. Second resistance is March's high crossing at 75.64. First support is June's low crossing at 73.74. Second support is December's low crossing at 73.47.  

The June Japanese Yen closed unchanged on Wednesday. The low-range close sets the stage for a steady to lower opening when Thursday’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 20-day moving average crossing at 0.0918 would confirm that a short-term top has been posted. If June extends the rally off April's low, the 75% retracement level of the November-January-rally crossing at 0.0936 is the next upside target. First resistance is the 62% retracement level of the November-January-rally crossing at 0.0929. Second resistance is the 75% retracement level of the November-January-rally crossing at 0.0936. First support is the 20-day moving average crossing at 0.0918. Second support is the 50-day moving average crossing at 0.0909.  

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

June gold closed higher on Wednesday. The mid-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 1302.20 would confirm that a short-term low has been posted. If June extends this month's rally, February's high crossing at 1356.00 is the next upside target. First resistance is last-Friday's high crossing at 1347.70. Second resistance is February's high crossing at 1356.00. First support is Tuesday's low crossing at 1319.10. Second support is the 20-day moving average crossing at 1302.20.

July silver closed higher on Wednesday. The low-range close set the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 14.618 would confirm that a short-term top has been posted. If July extends the rally off May's low, April's high crossing at 15.400 is the next upside target. First resistance is last-Friday's high crossing at 15.150. Second resistance is April's high crossing at 15.400. First support is May's low crossing at 14.265. Second support is last-November's low crossing at 14.175.          

July copper closed lower on Wednesday.The low-range close sets the stage for a steady to lower opening when Thursday'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 267.86 are needed to confirm that a short-term low has been posted. If July extends the decline off April's high, January's low crossing at 256.10 is the next downside target. First resistance is the 20-day moving average crossing at 267.86. Second resistance is the 50-day moving average crossing at 279.49. First support is the 87% retracement level of the January-April-rally crossing at 261.76. Second support is January's low crossing at 256.10.

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

July Corn closed up 2-cents at 4.29 3/4. 

July corn closed closed higher on Wednesday as it extends Tuesday's rally following a bullish WASDE report. The mid-range close sets the stage for a steady to higher opening when Thursday's night sessions begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If July resumes the rally off May's low, last-May's high crossing at 4.45 is the next upside target. Closes below May's gap crossing at 4.04 3/4 would confirm that a short-term top has been posted. First resistance is May's high crossing at 4.38. Second resistance is last-May's high crossing at 4.45. First support is May's gap crossing at 4.04 3/4. Second support is the 50-day moving average crossing at 3.82 1/2.   

July wheat closed up 6 1/2-cents at 5.26 1/2. 

July wheat closed higher on Wednesday. The high-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If July resumes the rally off May's low, the 62% retracement level of the 2018-2019-decline crossing at 5.42 1/2 is the next upside target. Closes below the reaction low crossing at 4.66 1/4 would confirm that a short-term top has been posted. First resistance is last-Tuesday's high crossing at 5.29. Second resistance is the 62% retracement level of the 2018-2019-decline crossing at 5.42 1/2. First support is the reaction low crossing at 4.66 1/4. Second support is the 50-day moving average crossing at 4.66 1/2.     

July Kansas City Wheat closed up 5 1/4-cents at 4.62 3/4.

July Kansas City wheat closed higher on Wednesday. The high-range close sets the stage for a steady to higher opening when Thursday night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If July renews the rally off May's low, the 50% retracement level of the 2018-2019-decline crossing at 5.41 1/2 is the next upside target. Closes below the 20-day moving average crossing at 4.47 1/2 would confirm that a short-term top has been posted. First resistance is June's high crossing at 4.97. Second resistance is the 50% retracement level of the 2018-2019-decline crossing at 5.41 1/2. First support is last-Thursday's low crossing at 4.40 3/4. Second support is the 50-day moving average crossing at 4.29 1/2.  

July Minneapolis wheat closed down 4 3/4-cents at 5.64 3/4. 

July Minneapolis wheat closed lower on Wednesday as it consolidates below the 38% retracement level of the 2018-2019-decline crossing at 5.70 1/2. The low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If July extends the rally off April's low, the 50% retracement level of the 2018-2019-decline crossing at 5.90 1/2 is the next upside target. Closes below the 20-day moving average crossing at 5.50 1/2 would confirm that a short-term top has been posted. First resistance is the 38% retracement level of the 2018-2019-decline crossing at 5.70 1/2. Second resistance is the 50% retracement level of the 2018-2019-decline crossing at 5.90 1/2. First support is the 20-day moving average crossing at 5.50 1/2. Second support is the reaction low crossing at 5.32.    

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

July soybeans closed up 19 1/4-cents at 8.78 1/2.

July soybeans closed higher on Wednesday.The high-range close sets the stage for a steady to higher opening when Thursday'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 July renews the rally off May's low, April's high crossing at 9.20 1/2 is the next upside target. Closes below the 20-day moving average crossing at 8.53 1/4 would confirm that a short-term top has been posted. First resistance is last-Tuesday's high crossing at 8.94 1/2. Second resistance is April's high crossing at 9.20 1/4. First support is the 20-day moving average crossing at 8.53 1/4. Second support is the May 28^th gap crossing at 8.31 1/2.  

July soybean meal closed up $5.20 at 319.60. 

July soybean meal closed higher on Wednesday. The high-range close sets the stage for a steady to higher opening when Thursday'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 July renews the rally off May's low, January's high crossing at 331.10 is the next upside target. Closes below the 20-day moving average crossing at 309.70 would confirm that a short-term top has been posted. First resistance is June's high crossing at 328.10. Second resistance is January's high crossing at 331.10. First support is the 20-day moving average crossing at 309.70. Second support is the 50-day moving average crossing at 306.30.    

July soybean oil closed up 30-pts. at 27.52. 

July soybean oil closed higher on Wednesday. The high-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are neutral signaling that sideways trading is possible near-term. Closes below the reaction low crossing at crossing at 26.74 would confirm that a short-term top has been posted. Closes above the 50-day moving average crossing at 27.90 would open the door for a larger-degree rally into June. First resistance is the 50-day moving average crossing at 27.90. Second resistance is April's high crossing at 29.72. First support is the reaction low crossing at crossing at 26.74. Second support is May's low crossing at 26.21.     

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

July hogs closed unchanged at $84.38. 

July hogs closed unchanged on Wednesday. The mid-range close sets the stage for a steady opening when Thursday'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 July extends this month's decline, the 75% retracement level of the February-April-rally crossing at 81.87 is the next downside target. Closes above the 20-day moving average crossing at 88.01 are needed to confirm that a low has been posted. First resistance is the 10-day moving average crossing at 85.51. Second resistance is the 20-day moving average crossing at 88.01. First support is Tuesday's low crossing at 83.20. Second support is the 75% retracement level of the February-April-rally crossing at 81.87. 

August cattle closed down $1.63 at 105.20. 

August cattle closed lower on Wednesday. Stochastics and the RSI remain neutral to bullish signaling that sideways to higher prices are possible near-term. If August extends this month's rally, the reaction high crossing at 109.40 is the next upside target. If August extends the decline off March's high, weekly support crossing at 100.40 is the next downside target. First resistance is the reaction high crossing at 114.88. Second resistance is the 50-day moving average crossing at 114.73. First support is June's low crossing at 102.30. Second support is weekly support crossing at 100.40.

August Feeder cattle closed down $0.33 at $137.80. 

August Feeder cattle closed lower on Wednesday. The high-range close sets the stage for a steady to higher opening when Thursday's 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 140.34 are needed to confirm that a low has been posted. If August extends the decline off March's high, weekly support crossing at 128.57 is the next downside target. First resistance is the 20-day moving average crossing at crossing at 140.34. Second resistance is the reaction high crossing at 148.10. First support is June's low crossing at 132.15. Second support is weekly support crossing at 128.57.  

FOOD & FIBERhttp://quotes.ino.com/ex changes/?c=food 

July coffee closed higher on Wednesday. The high-range close sets the stage for a steady to higher opening on Thursday. 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 9.70 would confirm that a short-term top has been posted. If July renews the rally off May's low, February's high crossing at 11.29 is the next upside target. 

July cocoa closed slightly lower on Wednesday. The low-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are overbought but remain neutral to bullish signaling sideways to higher prices are possible near-term. If July extends the rally off April's low, the May-2018 high crossing at 28.32 is the next upside target. Closes below the 20-day moving average crossing at 24.28 would confirm that a short-term top has been posted.            

July sugar closed higher on Wednesday. The high-range close set the stage for a steady to higher opening on Thursday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If July extends the rally off May's low, the reaction high crossing at 12.75 is the next upside target. Closes below the 20-day moving average crossing at 12.02 would confirm that a short-term top has been posted. 

July cotton closed higher on Wednesday. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are turning neutral to bullish hinting that a low might e in or is near. If July resumes this spring's decline, monthly support crossing at 59.85 is the next downside target. If July renews the rally off May's low, the 50-day moving average crossing at 72.62 is the next upside target.