KEY EVENTS TO WATCH FOR:

Thursday, July 4, 2019  

  N/A              Marianas: U.S. Independence Day

  N/A              U.S. Independence Day. Financial markets closed

Friday, July 5, 2019 

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

                       Non-Farm Payrolls  (previous +75K)

                       Unemployment Rate (previous 3.6%)

                       Avg Hourly Earnings (USD) (previous 27.83)

                       Avg Hourly Earnings-Net Chg (USD) (previous +0.06)

                       Avg Hourly Earnings, M/M% (previous +0.22%)

                       Avg Hourly Earnings, Y/Y% (previous 3.1%)

                       Overall Workweek (previous 34.4)

                       Overall Workweek Net Chg (previous +0)

                       Government Payrolls (previous -15K)

                       Private Payroll (previous +90K)

                       Participation Rate (previous 62.8%)

                       Non-Farm Payrolls Bench Net Chg

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

                       Corn (Metric Tons) (previous 405.0K)

                       Soybeans (Metric Tons) (previous 487.8K)

                       Wheat (Metric Tons) (previous 612.1K)

4:30 PM ET. Federal Discount Window Borrowings

4:30 PM ET. Money Stock Measures

4:30 PM ET. Foreign Central Bank Holdings

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

The September NASDAQ 100 closed higher on Wednesday as it extends the rally off June's low.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 September extends the rally off June's low, April's high crossing at 7910.75 is the next upside target. Closes below the 20-day moving average crossing at 7639.70 would confirm that a short-term top has been posted. First resistance is today's high crossing at 7892.75. Second resistance is April's high crossing at 7910.75. First support is the 20-day moving average crossing at 7639.70. Second support is June's low crossing at 6969.00. 

The September S&P 500 closed higher on Wednesday an into uncharted territory. 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 September extends the rally off June's low into uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average crossing at 2923.93 are needed to confirm that a short-term top has been posted. First resistance is today's high crossing at 3000.30. Second resistance is unknown. First support is the 20-day moving average crossing at 2923.93. Second support is the 50-day moving average crossing at 2890.82.  

The Dow gapped up and posted a new all-time high close on Wednesday. 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 the Dow extends the rally above last-October's high crossing at 26,951.81 into uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average crossing at 26,399.03 would confirm that a short-term top has been posted. First resistance is today's high crossing at 26,966.00. Second resistance is unknown. First support is the 10-day moving average crossing at 26,688.15. Second support is the 20-day moving average crossing at 26,399.03.

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

September T-bonds closed up 17/32's at 156-20.

September T-bonds 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 diverging and are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off March's low, weekly resistance crossing at 158-09 is the next upside target. Closes below the 20-day moving average crossing at 154-29 would confirm that a short-term top has been posted. First resistance is today's high crossing at 156-27. Second resistance is weekly resistance crossing at 158-09. First support is the 20-day moving average crossing at 154-29. Second support is the reaction low crossing at 153-17.           

September T-notes closed up 30-pts. At 128.075.

September T-notes closed higher on Wednesday. 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. If September resumes the rally off April's low, weekly resistance crossing at 130.010 is the next upside target. Closes below the 20-day moving average crossing at 127.177 would confirm that a short-term top has been posted. First resistance is today's high crossing at 128.140. Second resistance is weekly resistance crossing at 130.010. First support is the 20-day moving average crossing at 127.177. Second support is June's low crossing at 126.155.       

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

August crude oil higher on Wednesday.The high-range close sets the stage for a steady to higher opening when Friday's night session begins. 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 55.64 would confirm that a short-term top has been posted. If August resumes the rally off June's low, the May 20^th reaction high crossing at 64.03 is the next upside target. First resistance is the 50-day moving average crossing at 58.68. Second resistance is the reaction high crossing at 64.03. First support is the 20-day moving average crossing at 55.64. Second support is June's low crossing at 50.79.  

August heating oil closed higher on Wednesday as it consolidates Tuesday's decline. The high-range close sets the stage for a steady to higher opening when Friday's night trading session begins. 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 187.54 are needed to confirm that a short-term top has been posted. If August resumes the rally off June's low, the reaction high crossing at 202.50 is the next upside target. First resistance is the 50-day moving average crossing at 196.40. Second resistance is the reaction high crossing at 202.50 is the next upside target. First support is the 20-day moving average crossing at 187.54. Second support is the reaction low crossing at 178.74. 

August unleaded gas closed higher on Wednesday as it extends this week's trading range. 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 bullish signaling that sideways to higher prices are possible near-term. If August resumes the rally off June's low, the reaction high crossing at 200.99 is the next upside target. Closes below the 20-day moving average crossing at 178.50 would confirm that a short-term top has been posted. First resistance is Monday's high crossing at 196.53. Second resistance is the reaction high crossing at 200.99. First support is the 50-day moving average crossing at 185.70. Second support is the 20-day moving average crossing at 178.50.

August Henry natural gas closed higher on Wednesday.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 August resumes this spring's decline, monthly support crossing at 2.029 is the next downside target. Closes above the 20-day moving average crossing at 2.303 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 2.303. Second resistance is the 50-day moving average crossing at 2.487. First support is June's low crossing at 2.134. Second support is monthly support crossing at 2.029.        

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

The September Dollar closed slightly higher on Wednesday as it consolidates above the 20-day moving average crossing at 96.25 confirming that a short-term low has been posted. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off June's low the 50-day moving average crossing at 96.69 is the next upside target. If September resumes the decline off June's high, March's low crossing at 94.78 is the next downside target. First resistance is the 50-day moving average crossing at crossing at 96.69. Second resistance is June's high crossing at 97.26. First support is June's low crossing at 95.36. Second support is March's low crossing at 94.78.

The September Euro 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 50-day moving average crossing at 113.33 are needed to confirm that a short-term top has been posted. If September resumes the rally off May's low, March's high crossing at 116.21 is the next upside target. First resistance is June's high crossing at 114.86. Second resistance is March's high crossing at 116.21. First support June's low crossing at 112.62. Second support is May's low crossing at 112.12.       

The September British Pound closed lower on Wednesday. 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 sideways to lower prices are possible near-term. If September resumes the decline off May's high, the October-2016 low crossing at 1.2439 is the next downside target. If September renews the rally off June's low, the 50-day moving average crossing at 1.2840 is the next upside target. First resistance is June's high crossing at 1.2830. Second resistance is the 50-day moving average crossing at 1.2840. First support is June's low crossing at 1.2556. Second support is the October-2016 low crossing at 1.2439.   

The September Swiss Franc closed lower on Wednesday. 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 sideways to lower prices are possible near-term. If September extends Monday's decline, the 50-day moving average crossing at 1.0090 is the next downside target. If September renews the rally off May's low, January's high crossing at 1.0505 is the next upside target. First resistance is June's high crossing at 1.0392. Second resistance is January's high crossing at 1.0505. First support is Tuesday's low crossing at 1.0181. Second support is the 50-day moving average crossing at 1.0090. 

The September Canadian 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off June's low, January's high crossing at 76.85 is the next upside target. Closes below the 20-day moving average crossing at 75.69 would confirm that a short-term top has been posted. First resistance is last-Friday's high crossing at 76.69. Second resistance is January's high crossing at 76.85. First support is the 10-day moving average crossing at 76.23. Second support is the 20-day moving average crossing at 75.69.  

The September Japanese Yen closed unchanged on Wednesday. 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 sideways to lower prices are possible near-term. If September extends Monday's decline, the 50-day moving average crossing at 0.0923 is the next downside target. If September renews the rally off April's low, the December-2018 high crossing at 0.0948 is the next upside target. First resistance is the 87% retracement level of the November-January-rally crossing at 0.0942. Second resistance is the December-2018 high crossing at 0.0948. First support is June's low crossing at 0.0926. Second support is the 50-day moving average crossing at 0.0923.  

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

August gold closed slightly lower on Wednesday. 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 August resumes the rally off May's low, the 50% retracement level of the 2011-2015-decline on the weekly continuation chart crossing at 1484.50 is the next upside target. Closes below the 20-day moving average crossing at 1377.30 would confirm that a short-term low has been posted. First resistance is June's high crossing at 1442.90. Second resistance is the 50% retracement level of the 2011-2015-decline on the weekly continuation chart crossing at 1484.50. First support is Monday's low crossing at 1384.70. Second support is the 20-day moving average crossing at 1377.30.

September silver closed slightly lower on Wednesday. The mid-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 bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 15.158 would confirm that a short-term top has been posted. If September renews the rally off May's low, March's high crossing at 15.835 is the next upside target.First resistance is June's high crossing at 15.625. Second resistance is March's high crossing at 15.835. First support is the 20-day moving average crossing at 15.158. Second support is the reaction low crossing at 14.700.          

September copper closed higher on Wednesday.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 September extends this week's decline, June's low crossing at 259.95 is the next downside target. Closes above the 50-day moving average crossing at 272.66 would open the door for additional strength near-term. First resistance is the 50-day moving average crossing at 272.66. Second resistance is the reaction high crossing at 285.35. First support is the reaction low crossing at 261.65. Second support is June's low crossing at 259.95. 

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

December Corn closed up 14 1/2-cents at 4.40 1/2. 

December corn closed higher on Wednesday on bullish weather concerns. The 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 but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off last-Friday's high, the 50-day moving average crossing at 4.19 3/4 is the next downside target. Closes above the 20-day moving average crossing at 4.47 3/4 would confirm that a short-term low has been posted. First resistance is June's high crossing at 4.73. Second resistance is monthly resistance crossing at 5.15. First support is the May 28^th gap crossing at 4.20. Second support is the 50-day moving average crossing at 4.19 3/4.    

December wheat closed up 9 1/4-cents at 5.24 3/4. 

December wheat closed higher on Wednesday due to spillover strength from the corn market. 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the aforementioned decline, the 50-day moving average crossing at 5.06 is the next downside target. Closes above the 10-day moving average crossing at 5.39 3/4 would confirm that a short-term low has been posted. First resistance is the 62% retracement level of the 2018-2019-decline crossing at 5.42 1/2. Second resistance is the 75% retracement level of the 2018-2019-decline crossing at 5.69. First support is the 50-day moving average crossing at 5.06. Second support is the reaction low crossing at 4.88 1/4.     

December Kansas City Wheat closed up 10 1/2-cents at 4.65 1/2.

December Kansas City wheat closed higher due to short covering on Wednesday as it consolidates some of the decline off last-week's high. The high-range close sets the stage for a steady to higher opening when Friday night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off June's high, the reaction low crossing at 4.54 1/4 is the next downside target. Closes above the 20-day moving average crossing at 4.91 1/4 would confirm that a short-term low has been posted. First resistance is June's high crossing at 5.27 1/4. Second resistance is the 50% retracement level of the 2018-2019-decline crossing at 5.36. First support is today's low crossing at 4.53 3/4. Second support is May's low crossing at 4.14.  

December Minneapolis wheat closed up 3 1/4-cents at 5.54 1/4. 

December Minneapolis wheat closed higher on Wednesday as it consolidates some of the decline off June's high. 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 December extends this week's decline, May's low crossing at 5.29 1/2 is the next downside target. Closes above the 20-day moving average crossing at 5.72 are needed to confirm that a short-term low has been posted. First resistance is June's high crossing at 5.93. Second resistance is the 50% retracement level of the 2018-2019-decline crossing at 6.00 3/4. First support is today's low crossing at 5.49 1/2. Second support is May's low crossing at 5.29 1/2.    

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

November soybeans closed up 9 1/4-cents at 9.08.

November soybeans closed higher on Wednesday. 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 November extends the decline off June's high, the 50-day moving average crossing at 8.87 1/4 is the next downside target. Closes above the 10-day moving average crossing at 9.19 1/4 would confirm that a short-term low has been posted. First resistance is June's high crossing at 9.48. Second resistance is March's high crossing at 9.57 1/2. First support is today's low crossing at 8.96. Second support is the 50-day moving average crossing at 8.87 1/4.  

December soybean meal closed up $2.20 at 315.20. 

December soybean meal posted an inside day with a higher close on Wednesday 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off June's high, the May 28^th gap crossing at 309.00 is the next downside target. Closes above Monday's high crossing at 326.00 would temper the near-term bearish outlook. First resistance is June's high crossing at 336.00. Second resistance is the June 2018 high crossing at 346.10. First support is the May 28^th gap crossing at 309.00. Second support is the reaction low crossing at 301.40.    

December soybean oil closed up 31-pts. at 28.57. 

December soybean oil closed higher on Wednesday. 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. Multiple closes below the 50-day moving average crossing at 28.26 would confirm that a short-term top has been posted while opening the door for additional weakness near-term. If December resumes the rally off May's low, the 50% retracement level of the February-May-decline crossing at 28.91 is the next upside target. First resistance is June's high crossing at 29.32. Second resistance is the 50% retracement level of the February-May-decline crossing at 29.50. First support is the reaction low crossing at crossing at 27.60. Second support is May's low crossing at 26.96.     

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

August hogs closed down $0.60 at $78.38. 

August hogs closed lower on Wednesday. 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 80.15 are needed to confirm that a low has been posted. If August resumes the decline off March's high, the July-2018 low crossing at 69.90 is the next downside target. First resistance is the 20-day moving average crossing at 80.15. Second resistance is the 50-day moving average crossing at 87.31. First support is June's low crossing at 73.95. Second support is the July-2018 low crossing at 69.90. 

August cattle closed up $1.35 at 105.45. 

August cattle closed higher on Wednesday. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 106.86 are needed to confirm that a short-term low has been posted. If August resumes the decline off March's high, weekly support crossing at 100.40 is the next downside target. First resistance is the 50-day moving average crossing at 106.86. Second resistance is the reaction high crossing at 107.18. First support is June's low crossing at 101.97. Second support is weekly support crossing at 100.40.

August Feeder cattle closed down $1.80 at $136.57. 

August Feeder cattle closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening when Friday's session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If August extends this week's rally, the 50-day moving average crossing at 141.17 is the next upside target. If August renews the decline off March's high, weekly support crossing at 128.57 is the next downside target. First resistance is the 50-day moving average crossing at crossing at 141.17. Second resistance is the reaction high crossing at 146.05. First support is June's low crossing at 130.95. Second support is weekly support crossing at 128.57.  

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

September coffee closed higher on Wednesday as it extends the rally off May's low. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off May's low, February's high crossing at 11.56 is the next upside target. Closes below the 20-day moving average crossing at 10.36 would confirm that a short-term top has been posted. 

September cocoa closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are turning neutral to bullish signaling sideways to higher prices are possible near-term. If September resumes the rally off April's low, the July-2018 high crossing at 25.81 is the next upside target. If September extends the decline off June's high, the 50-day moving average crossing at 24.11 is the next downside target.               

October sugar closed higher on Wednesday. The high-range close set the stage for a steady to higher opening on Friday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If October resumes the decline off June's high, the reaction low crossing at 12.04 is the next downside target. If October renews the rally off May's low, April's high crossing at 13.33 is the next upside target. 

December cotton closed slightly lower on Wednesday as it extends the May-June trading range. The mid-range close sets the stage for a steady opening on Friday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the reaction high crossing at 68.60 would confirm an upside breakout of the aforementioned trading range. Closes below the reaction low crossing at 64.70 would confirm a downside breakout of the aforementioned trading range.