KEY EVENTS TO WATCH FOR:

Monday, May 14, 2018  

11:00 AM ET. IIF hosts launch of IMF's Global Debt Database

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The June NASDAQ 100 closed slightly lower on Friday as it consolidated some of this month's rally. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the aforementioned rally, the 75% retracement level of the March-April-decline crossing at 6989.66 is the next upside target. Closes below the 20-day moving average crossing at 6741.45 would confirm that a short-term top has been posted. First resistance is the 75% retracement level of the March-April-decline crossing at 6989.66. Second resistance is the 87% retracement level of the March-April-decline crossing at 7099.43. First support is the reaction low crossing at 6429.25. Second support is April's low crossing at 6306.75.  

The June S&P 500 closed slightly higher on Friday as it extends this month's rally. The mid-range close sets the stage for a steady to higher opening when Monday'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 last Thursday's low, the reaction high crossing at 2741.00 is the next upside target. Closes below the 10-day moving average crossing at 2669.84 would confirm that a short-term top has been posted. First resistance is today's high crossing at 2732.00. Second resistance is the reaction high crossing at 2741.00. First support is last Thursday's low crossing at 2592.50. Second support is April's low crossing at 2554.00. 

The Dow closed higher on Friday as it extends this month's rally. The mid-range close sets the stage for a steady to higher opening when Monday'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 off May's low, the reaction high crossing at 24,977.65 is the next upside target. Closes below the 10-day moving average crossing at 24,317.23 would confirm that a short-term top has been posted. First resistance is today's high crossing at 23,868.65. Second resistance is the reaction high crossing at 24,977.65. First support is last Thursday's low crossing at 23,531.31. Second support is April's low crossing at 23,344.52.      

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June T-bonds closed unchanged at 143-06.

June T-bonds closed unchanged on Friday.The low-range close sets the stage for a steady to lower opening when Monday'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 50-day moving average crossing at 144-07 would confirm that a short-term low has been posted. If June renews the decline off April's high, February's low crossing at 141-14 is the next downside target. First resistance is the 50-day moving average crossing at 144-07. Second resistance is the reaction high crossing at 146-02. First support is April's low crossing at 142-09. Second support is February's low crossing at 141-14.     

June T-notes closed down 5-points at 119-130.

June T-notes closed slightly lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral signaling that sideways trading is possible near-term. If June renews the decline off April's high, weekly support crossing at 117.180 is the next downside target. Closes above the 50-day moving average crossing at 120.043 would confirm that a short-term low has been posted. First resistance the 50-day moving average crossing at 120.043. Second resistance is the reaction high crossing at 120.180. First support is April's low crossing at 119.065. Second support is weekly support crossing at 117.180.     

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June crude oil closed lower on Friday due to profit taking. The low-range close sets the stage for a steady to lower opening when Monday's night session begins. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off February's low, the 50% retracement level of the 2014-2016-decline crossing at 72.85 is the next upside target. Closes below the 20-day moving average crossing at 68.70 would confirm that a short-term top has been posted. First resistance is Thursday's high crossing at 71.89. Second resistance is the 50% retracement level of the 2014-2016-decline crossing at 72.85.First support is the 20-day moving average crossing at 68.70. Second support is the 50-day moving average crossing at 65.46. 

June heating oil closed slightly lower on Friday as it consolidated some of this year's rally. The low-range close sets the stage for a steady to lower opening when Monday's night trading session begins. 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 February's low, the contract high crossing at 235.70 is the next upside target. Closes below the 20-day moving average crossing at 213.75 are needed to confirm that a short-term top has been posted. First resistance is today's high crossing at 223.46. Second resistance is the contract high crossing at 235.70. First support is the 20-day moving average crossing at 213.75. Second support is the 50-day moving average crossing at 203.46.  

June unleaded gas closed lower due to light profit taking on Friday as it consolidates some of this year's rally. The low-range close sets the stage for a steady to lower opening when Monday'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 February's low, monthly resistance crossing at 248.43 is the next upside target. Closes below last Thursday's low crossing at 205.29 would confirm that a short-term top has been posted. First resistance is today's high crossing at 219.59. Second resistance is monthly resistance crossing at 248.43. First support is last Thursday's low crossing at 205.29. Second support is the 50-day moving average crossing at 203.14.

June Henry natural gas posted an inside day with a slightly higher close on Friday as it extended Thursday's rally. The high-range close sets the stage for a steady to higher opening when Monday'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 April's high crossing at 2.844 would open the door for a possible test of March's high crossing at 2.873, which marks the upper boundary of this year's trading range. If June renews the decline off March's high, April's low crossing at 2.660 is the next downside target. First resistance is April's high crossing at 2.844. Second resistance is March's high crossing at 2.873. First support is April's low crossing at 2.660. Second support is February's low crossing at 2.638.  

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The June Dollar closed lower on Friday due to profit taking. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI 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 91.35 would confirm that a short-term top has been posted. If June extends the rally off February's low, the 75% retracement level of the 2017-2018-decline crossing at 94.46. First resistance is the 62% retracement level of the 2017-2018-decline crossing at 93.29. Second resistance is the 75% retracement level of the 2017-2018-decline crossing at 94.46. First support is today's low crossing at 92.23. Second support is the 20-day moving average crossing at 91.35.  

The June Euro closed higher on Friday as it rebounds off support marked by the 87% retracement of the November-February-rally crossing at 118.54. The high-range close sets the stage for a steady to higher prices are possible when Monday's night session begins trading. Stochastics and the RSI are oversold and are turning neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 121.45 are needed to confirm that a short-term low has been posted. If June extends the decline off April's high, last-November's low crossing at 117.35 is the next downside target. First resistance is the 10-day moving average crossing at 119.82. Second resistance is the 20-day moving average crossing at 121.45. First support is the 87% retracement level of the November-February-rally crossing at 118.54. Second support is last-November's low crossing at 117.35.    

The June British Pound closed lower on Friday as it extends this week's trading range. The mid-range close sets the stage for a steady opening when Monday'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 June extends the aforementioned decline, December's low crossing at 1.3400 is the next downside target. Closes above the 10-day moving average crossing at 1.3601 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 1.3601. Second resistance is the 20-day moving average crossing at 1.3841. First support is Thursday's low crossing at 1.3480. Second support is December's low crossing at 1.3400. 

The June Swiss Franc closed higher on Friday. The mid-range close sets the stage for a steady opening when Monday'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 June extends the decline off February's high, weekly support crossing at 0.9833 is the next downside target. Closes above the 20-day moving average crossing at 1.0165 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 1.0036. Second resistance is the 20-day moving average crossing at 1.0165. First support is Thursday's low crossing at 0.9972.Second support is weekly support crossing at 0.9833.

The June Canadian Dollar closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Multiple closes above the 20-day moving average crossing at 78.62 would confirm that a short-term low has been posted. If June renews the decline off April's high, March's low crossing at 76.33 is the next downside target. First resistance is the 20-day moving average crossing at 78.62. Second resistance is April's high crossing at 79.92. First support is Tuesday's low crossing at 76.99. Second support is March's low crossing at 76.33.  

The June Japanese Yen closed slightly higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday’s night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 0.9221 would confirm that a short-term low has been posted. If June extends the aforementioned decline, the 75% retracement level of the October-March-rally crossing at 0.9047 is the next downside target. First resistance is the 20-day moving average crossing at 0.9221. Second resistance is the 50-day moving average crossing at 0.9362. First support is Thursday's low crossing at 0.9110. Second support is the 75% retracement level of the October-March-rally crossing at 0.9047.   

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June gold closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday'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 1325.10 would confirm that a short-term low has been posted. If June extends the decline off April's high, the 62% retracement level of the December-January-rally crossing at 1296.30 is the next downside target. First resistance is the 20-day moving average crossing at 1325.10. Second resistance is April's high crossing at 1369.40. First support is the 62% retracement level of the December-January-rally crossing at 1296.30. Second support is the 75% retracement level of the December-January-rally crossing at 1279.20.

July silver closed slightly lower on Friday. The low-range close set the stage for a steady to lower opening when Monday'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 this week's rally, the reaction high crossing at 16.950 is the next upside target. If July renews the decline off April's high, December's low crossing at 15.705 is the next downside target. First resistance is the reaction high crossing at 16.950. Second resistance is April's high crossing at 17.360. First support is last Tuesday's low crossing at 16.340. Second support is December's low crossing at 15.705.       

June copper closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends this week's rally, the reaction high crossing at 315.65 is the next upside target. If June renews the decline off April's high, April's low crossing at 298.35 is the next downside target. First resistance is the reaction high crossing at 315.65. Second resistance is April's high crossing at 320.00. First support is April's low crossing at 298.35. Second support is March's low crossing at 295.95.  

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July Corn closed down 5-cents at 3.97. 

July corn closed lower on Friday and below the 20-day moving average crossing at 3.97 1/4 confirming that a short-term top has been posted. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends today's decline, the 50-day moving average crossing at 3.94 1/4 is the next downside target. If July renews this year's rally, the 75% retracement level of the July-January-decline crossing at 4.16 1/4 is the next upside target. First resistance is last Friday's high crossing at 4.08 1/4. Second resistance is the 75% retracement level of the July-January-decline crossing at 4.16 1/4. First support is the 50-day moving average crossing at 3.94 1/4. Second support is the reaction low crossing at 3.85 1/4.  

July wheat closed down 9-cents at 4.97 1/2. 

July wheat closed lower on Friday and below the 20-day moving average crossing at 5.01 1/2 confirming that a short-term top has been posted.The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends this week's decline, the 50-day moving average crossing at 4.94 1/2 is the next downside target. If July renews the rally off March's low, the 62% retracement level of the July-December-decline crossing at 5.43 3/4 is the next upside target. First resistance is last Thursday's high crossing at 5.38 1/2. Second resistance is the 62% retracement level of the July-December-decline crossing at 5.43 3/4. First support is the 50-day moving average crossing at 4.94 1/2. Second support is the reaction low crossing at 4.67 3/4.       

July Kansas City Wheat closed down 9-cents at 5.18. 

July Kansas City wheat closed lower on Friday as it extends this week's decline. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends this week's decline, the reaction low crossing at 4.96 1/2 is the next downside target. Closes above the 10-day moving average crossing at 5.42 1/4 would confirm that a short-term low has been posted. First resistance is last Friday's high crossing at 5.67 3/4. Second resistance is the 75% retracement level of the July-December-decline crossing at 5.77. First support is today's low crossing at 5.16. Second support is the reaction low crossing at 4.96 1/2. 

July Minneapolis wheat closed down 4-cents at 6.05. 

July Minneapolis wheat closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends the decline off last Thursday's high, the late-April's low crossing at 5.91 1/4 is the next downside target. If July renews the rally off April's low, April's high crossing at 6.43 1/2 is the next upside target. First resistance is last Thursday's high crossing at 6.30 3/4. Second resistance is April's high crossing at 6.43 1/2. First support is the late-April's low crossing at 5.91 1/4. Second support is March's low crossing at 5.81.  

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July soybeans closed down 19 1/4-cents at 10.02. 

July soybeans closed lower on Friday as it renewed this month's decline. The low-range close sets the stage for a steady to lower opening with Monday'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 the decline off April's high, April's low crossing at 9.94 1/2 is the next downside target. Closes above the 50-day moving average crossing at 10.46 1/4 would confirm that a short-term low has been posted. First resistance is the reaction high crossing at 10.67 1/2. Second resistance is April's high crossing at 10.78. First support is today's low crossing at 10.02. Second support is April's low crossing at 9.94 1/2.

July soybean meal closed down $7.00 at 379.10. 

July soybean meal closed lower on Friday and below the 50-day moving average crossing at 382.80 would confirm that a short-term top has been posted. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends this week's decline, the reaction low crossing at 373.80 is the next downside target. First resistance is last Wednesday's high crossing at 406.50. Second resistance is weekly resistance crossing at 414.20. First support is the reaction low crossing at 373.80. Second support is April's low crossing at 367.00.  

July soybean oil closed up 13 pts. At 31.26. 

July soybean oil closed higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday'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 50-day moving average crossing at 31.69 would confirm that a short-term low has been posted. If July extends the decline off January's high, the 87% retracement level of the 2015-2016-rally crossing at 29.35 is the next downside target. First resistance is the 50-day moving average crossing at 31.74. Second resistance is the reaction high crossing at 32.19. First support is May's low crossing at 30.15. Second support is the 87% retracement level of the 2015-2016-rally crossing at 29.35.

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June hogs closed down $2.23 at $75.10 

June hogs closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday's session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends this week's rally, April's high crossing at 79.10 is the next upside target. If June renews the decline off April's high, April's low crossing at 70.25 is the next downside target. First resistance is April's high crossing at 79.10. Second resistance is the reaction high crossing at 79.60. First support is last Monday's low crossing at 72.20. Second support is April's low crossing at 70.25. 

June cattle closed up $0.10 at 107.63. 

June cattle closed higher on Friday. 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 June extends the rally off April's low, the reaction high crossing at 109.13 is the next upside target. If June resumes the decline off February's high, the March 2017 low crossing at 96.40 is the next downside target. First resistance is the reaction high crossing at 109.13. Second resistance is the reaction high crossing at 114.80. First support is the 87% retracement level of 2017's rally crossing at 99.63. Second support is the March 2017 low crossing at 96.40.

August Feeder cattle closed down $0.05 at $143.90. 

August Feeder cattle closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday's session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends the decline off April's high, the reaction low crossing at 140.08 is the next downside target. Closes above last Friday's high crossing at 147.30 would confirm that a short-term low has been posted. First resistance is April's high crossing at 149.08. Second resistance is March's high crossing at 153.88. First support is the reaction low crossing at 140.08. Second support is April's low crossing at 128.88.  

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

July coffee closed lower on Friday. The mid-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends the decline off May's high, the reaction low crossing at 11.75 is the next upside target. Closes above the 10-day moving average crossing at 12.17 would confirm that a low has been posted. 

July cocoa closed higher on Friday. The mid-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If July renewed this year's rally, the contract high crossing at 30.20 is the next upside target. If July extends this week's decline the 50-day moving average crossing at 26.41 is the next downside target.  

July sugar closed lower on Friday. The mid-range close set the stage for a steady to lower opening on Friday. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends this year's decline, monthly support crossing at 10.13 is the next downside target. Closes above the 20-day moving average crossing at 11.58 are needed to confirm that a low has been posted. 

July cotton closed slightly higher on Friday. The high-range close sets the stage for a steady to higher opening on Monday. 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 83.30 would confirm that a short-term top has been posted. If July extends this year's rally, weekly resistance crossing at 95.10 is the next upside target.