KEY EVENTS TO WATCH FOR:

Tuesday, August 6, 2019 

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

                       Chain Store Sales, W/W% (previous +0.6%)

                       Chain Store Sales, M/M% (previous +2.3%)

8:55 AM ET. Johnson Redbook Retail Sales Index

                       Ret Sales Mo-to-Date, M/M% (previous +1.0%)

                       Ret Sales Mo-to-Date, Y/Y% (previous +4.7%)

                       Latest Wk, Y/Y% (previous +4.5%)

10:00 AM ET. August IBD/TIPP Economic Optimism Index

                       Economic Optimism Idx (previous 56.6)

                       6-Mo Economic Outlook (previous 51.6)

10:00 AM ET. June Job Openings & Labor Turnover Survey

4:30 PM ET. API Weekly Statistical Bulletin

                       Crude Stocks, Net Chg (Bbls)  (previous -6.0M)

                       Gasoline Stocks, Net Chg (Bbls) (previous -3.1M)

                       Distillate Stocks, Net Chg (Bbls) (previous -0.9M)

Wednesday, August 7, 2019 

7:00 AM ET. MBA Weekly Mortgage Applications Survey

                       Composite Idx (previous 484.0)

                       Composite Idx, W/W% (previous -1.4%)

                       Purchase Idx-SA (previous 253.0)

                       Purchase Idx-SA, W/W% (previous -3.0%)

                       Refinance Idx (previous 1791.2)

                       Refinance Idx, W/W% (previous +0.1%)

10:30 AM ET. EIA Weekly Petroleum Status Report

                       Crude Oil Stocks (Bbl) (previous 436.545M)

                       Crude Oil Stocks, Net Chg (Bbl) (previous -8.496M)

                       Gasoline Stocks (Bbl) (previous 230.735M)

                       Gasoline Stocks, Net Chg (Bbl) (previous -1.791M)

                       Distillate Stocks (Bbl) (previous 135.922M)

                       Distillate Stocks, Net Chg (Bbl) (previous -0.894M)

                       Refinery Usage (previous 93.0%)

                       Total Prod Supplied (Bbl/day) (previous 21.296M)

                       Total Prod Supplied, Net Chg (Bbl/day) (previous -0.287M)

3:00 PM ET. June Consumer Credit

                       Consumer Credit Net Chg (USD) (previous +17.09B)

Thursday, August 8, 2019 

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

                       Jobless Claims (previous 215K)

                       Jobless Claims, Net Chg (previous +8K)

                       Continuing Claims (previous 1699000)

                       Continuing Claims, Net Chg (previous +22K)

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

                       Corn (Metric Tons) (previous 272.7K)

                       Soybeans (Metric Tons) (previous 448.6K)

                       Wheat (Metric Tons) (previous 383.1K)

9:45 AM ET. Bloomberg Consumer Comfort Index

10:00 AM ET. June Monthly Wholesale Trade

                       Inventories, M/M% (previous +0.4%)

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

                       Working Gas In Storage (Cbf) (previous 2634B)

                       Working Gas In Storage, Net Chg (Cbf) (previous +65B)

12:00 PM ET. July 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

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

The September NASDAQ 100 closed sharply lower on Monday shedding more than 300 points, a decline of nearly 4% as China-sensitive tech stocks came under pressure. 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends the decline off July's high, the 75% retracement level of the June-July-rally crossing at 7237.04 is the next downside target. Closes above the 20-day moving average crossing at 7889.57 would confirm that a short-term low has been posted. First resistance is July's high crossing at 8051.75. Second resistance is unknown. First support isthe 62% retracement level of the June-July-rally crossing at 7380.01. Second support is the 75% retracement level of the June-July-rally crossing at 7237.04. 

The September S&P 500 closed sharply lower on Monday as it extended the decline off July's high. Today's sell off saw September close below the 62% retracement level of the June-July-rally crossing at 2848.38.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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends the aforementioned decline, the 75% retracement level of the June-July-rally crossing at 2809.83 is the next downside target. Closes above the 20-day moving average crossing at 2987.61 would confirm that a short-term low has been posted. First resistance is broken support marked by the 50-day moving average crossing at 2931.47. Second resistance is July's high crossing at 3029.00. First support is today's low crossing at 2824.00. Second support is the 75% retracement level of the June-July-rally crossing at 2809.83.  

The Dow closed sharply lower on Monday as Wall Street joining a global equity selloff triggered by China's devaluation of its currency to fall to a more-than-10-year low versus the dollar after President Donald Trump rattled markets by announcing additional tariffs on Chinese goods late last week. The low-range close sets the stage for a steady to lower opening when Tuesday'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 the Dow extends the decline off July's high, the 75% retracement level of the June-July-rally crossing at 25,362.34 is the next downside target. Closes above the 20-day moving average crossing at 27,027.50 would confirm that a short-term low has been posted. First resistance is broken support marked by the 50-day moving average crossing at 26,479.90. Second resistance is the 20-day moving average crossing at 27,027.50. First support is the 75% retracement level of the June-July-rally crossing at 25,362.34. Second support is the 87% retracement level of the June-July-rally crossing at 25,034.74.

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September T-bonds closed up 2-12/32's at 160-31.

September T-bonds closed sharply higher on Monday as it extended the rally off July's low. The high-range close sets the stage for a steady to higher opening when Tuesday'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 July's low, weekly resistance crossing at 161-24 is the next upside target. Closes below the 50-day moving average crossing at 154-21 would confirm that a short-term top has been posted. First resistance is today's high crossing at 160-27. Second resistance is weekly resistance crossing at 161-24. First support is the 10-day moving average crossing at 155-31. Second support is the 50-day moving average crossing at 154-21.          

September T-notes closed up 1005-pts. at 129.280.

September T-notes closed sharply higher on Monday as it extended this year's rally. The high-range close sets the stage for a steady to higher opening when Tuesday'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 aforementioned rally, weekly resistance crossing at 130.010 is the next upside target. Closes below the 50-day moving average crossing at 127.120 would confirm that a short-term top has been posted. First resistance is today's high crossing at 129.290. Second resistance is weekly resistance crossing at 130.010. First support is the 50-day moving average crossing at 127.120. Second support is July's low crossing at 126.230.        

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September crude oil posted an inside day with a lower close on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends last-Thursday's decline, June's low crossing at 50.91 is the next downside target. Closes above last-Wednesday's high crossing at 58.82 would confirm that a short-term low has been posted. First resistance is last-Wednesday's high crossing at 58.82. Second resistance is July's high crossing at 61.02. First support is last-Thursday's low crossing at 53.59. Second support is June's low crossing at 50.91.  

September heating oil closed lower on Monday as it extended the decline off July's high. The low-range close sets the stage for a steady to lower opening when Tuesday's night trading session begins. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends the aforementioned decline, the reaction low crossing at 179.49 is the next downside target. Closes above last-Wednesday's high crossing at 197.47 would confirm that a short-term low has been posted. First resistance is last-Wednesday's high crossing at 197.47. Second resistance is July's high crossing at  202.40. First support is today's low crossing at 182.97. Second support is the reaction low crossing at 179.49. 

September unleaded gas closed lower on Monday as it extended the decline off July's high. The low-range close sets the stage for a steady to lower opening when Tuesday'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 September extends the decline off July's high, the 75% retracement level of the June-July-rally crossing at 169.64 is the next downside target. Closes above last-Wednesday's high crossing at 187.70 would confirm that a short-term low has been posted. First resistance is last-Wednesday's high crossing at 187.70. Second resistance is July's high crossing at 197.13. First support is the 75% retracement level of the June-July-rally crossing at 169.64. Second support is the 87% retracement level of the June-July-rally crossing at 165.23.

September Henry natural gas closed lower on Monday as it extended this year's decline.The mid-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are diverging but turning neutral to bearish again signaling that sideways to lower prices are possible near-term. If September extends the decline off July's high, weekly support crossing at 1.909 is the next downside target. Closes above the 50-day moving average crossing at 2.312 would confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 2.312. Second resistance is July's high crossing at 2.476. First support is today's low crossing at 2.029. Second support is weekly support crossing at 1.909.        

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The September Dollar closed sharply lower on Monday as it extends the decline off last-Thursday's high. The low-range close sets the stage for a steady to lower opening when Tuesday'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 97.25 would confirm that a short-term top has been posted. If September renews the rally off June's low, weekly resistance on the continuation chart crossing at 99.90 is the next upside target. First resistance is last-Thursday's high crossing at crossing at 98.70. Second resistance is weekly resistance on the continuation chart crossing at 99.90. First support is the 20-day moving average crossing at 97.25. Second support is the 50-day moving averagecrossing at 96.79.

The September Euro closed sharply higher on Monday and above the 20-day moving average crossing at 112.35 confirming that a short-term low has been posted. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off last-Thursday's low, the 50-day moving average crossing at 113.04 is the next upside target. If September renews the decline off June's high, monthly support crossing at 109.21 is the next downside target. First resistance is today's high crossing at 112.50. Second resistance is the 50-day moving average crossing at 113.04. First support is last-Thursday's low crossing at 110.65. Second support is monthly support crossing at 109.21.

The September British Pound closed lower on Monday. The mid-range close sets the stage for a steady to lower opening when Tuesday'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 September extends the decline off June's high, monthly support crossing at 1.2001 is the next downside target. Closes above the 20-day moving average crossing at 1.2415 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 1.2300. Second resistance is the 20-day moving average crossing at 1.2415. First support is last-Thursday's low crossing at 1.2104. Second support is monthly support crossing at 1.2001.  

The September Swiss Franc closed sharply higher for the third day in a row on Monday as it extended the rally off last-Thursday's low. The high-range close sets the stage for a steady to higher opening when Tuesday'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 aforementioned rally, June's high crossing at 1.0392 is the next upside target. Closes below the 10-day moving average crossing at 1.0170 would confirm that a short-term top has been posted. First resistance is the reaction high crossing at 1.0341. Second resistance is June's high crossing at 1.0392. First support is last-Thursday's low crossing at 1.0064. Second support is the May 30^th reaction low crossing at 1.0006.

The September Canadian Dollar closed lower on Monday. The mid-range close sets the stage for a steady to lower opening when Tuesday'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 76.29 would confirm that a short-term low has been posted. If September extends the decline off July's high, the 62% retracement level of the June-July-rally crossing at 75.08 is the next downside target. First resistance is the 20-day moving average crossing at 76.29. Second resistance is July's high crossing at 76.81. First support is the 50% retracement level of the June-July-rally crossing at 75.43. Second support is the 62% retracement level of the June-July-rally crossing at 75.08.   

The September Japanese Yen closed sharply higher for the third day in a row on Monday testing the December 2018 high crossing at 0.0948. The high-range close sets the stage for a steady to higher opening when Tuesday’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 this week's rally, the 62% retracement level of the 2018-2019-decline crossing at 0.0960 is the next upside target. Closes below the 20-day moving average crossing at 0.0929 would confirm that a short-term top has been posted. First resistance is the December 2018 high crossing at 0.0948. Second resistance is the 62% retracement level of the 2018-2019-decline crossing at 0.0960. First support is the  20-day moving average crossing 929. Second support is last-Thursday's low crossing at 0.0918.  

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October gold closed sharply higher on Monday as it extended the rally off May's low. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If October extends 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 last-Thursday's low crossing at 1406.40 would confirm that a short-term top has been posted. First resistance is today's high crossing at 1475.90. Second resistance is the 50% retracement level of the 2011-2015-decline on the weekly continuation chart crossing at 1484.50. First support is last-Thursday's low crossing at 1406.40. Second support is July's low crossing at 1390.90.

September silver closed higher on Monday. The mid-range close set the stage for a steady to higher opening when Tuesday'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 resumes the rally off May's low, the 62% retracement level of 2018's decline crossing at 16.858 is the next upside target. Closes below the 20-day moving average crossing at 16.051 are needed to confirm that a short-term top has been posted. First resistance is July's high crossing at 16.685. Second resistance is the 62% retracement level of 2018's decline crossing at 16.858. First support is the 20-day moving average crossing at 16.051. Second support is the 50-day moving average crossing at 15.431.          

September copper closed lower on Monday as it extended this year's decline. The mid-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are oversold but remains neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends the aforementioned decline, weekly support crossing at 252.64 is the next downside target. Closes above the 20-day moving average crossing at 268.01 would temper the near-term bearish outlook. First resistance is the 20-day moving average crossing at 268.01. Second resistance is July's high crossing at 280.30. First support is today's low crossing at 253.15. Second support is weekly support crossing at 252.64.  

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December Corn closed up 5 1/4-cents at 4.14 3/4. 

December corn closed higher on Monday as it consolidated some of the decline off June's high.The high-range close sets the stage for a steady to higher opening when Tuesday's night sessions 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 4.30 would confirm that a short-term low has been posted. If December resumes the decline off July's high, the 75% retracement level of the May-June-rally crossing at 3.91 is the next downside target. First resistance is the 10-day moving average crossing at 4.19 1/2. Second resistance is the 20-day moving average crossing at 4.3. First support is last-Thursday's low crossing at 3.97 1/4. Second support is the 75% retracement level of the May-June-rally crossing at 3.91.   

December wheat closed up 2 1/4-cents at 4.93 3/4. 

December wheat closed higher on Monday as it consolidated some of the decline off June's high. The high-range close sets the stage for a steady to higher opening when Tuesday'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 5.08 would confirm that a short-term low has been posted. If December renews the decline off June's high, the 75% retracement level of the May-June-rally crossing at 4.73 1/4 is the next downside target. First resistance is the 20-day moving average crossing at 5.08. Second resistance is the 50-day moving average crossing at 5.23 1/2. First support is the 75% retracement level of the May-June-rally crossing at 4.73 1/4. Second support is the reaction low crossing at 4.67 1/2.     

December Kansas City Wheat closed up 4 1/2-cents at 4.43 1/4.

December Kansas City wheat closed higher on Monday as it consolidated some of this week's decline. The high-range close sets the stage for a steady to higher opening when Tuesday night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Multiple closes above the 20-day moving average crossing at 4.56 are needed to confirm that a short-term low has been posted. If December renews the decline off June's high, May's low crossing at 4.14 is the next downside target. First resistance is the 20-day moving average crossing at 4.56. Second resistance is the 50-day moving average crossing at 4.77. First support is last-Thursday's low crossing at 4.28. Second support is May's low crossing at 4.14.  

December Minneapolis wheat closed up 1 1/2-cents at 5.36 1/4. 

December Minneapolis wheat closed higher on Monday. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to lower prices are possible near-term. Closes above the 20-day moving average crossing at 5.40 1/4 are needed to confirm that a short-term low has been posted. If December extends the decline off June's high, psychological support crossing at 5.25 is the next downside target. First resistance is the 20-day moving average crossing at 5.40 1/4. Second resistance is the 50-day moving average crossing at 5.58 3/4. First support is last-Thursday's low crossing at 5.28. Second support is psychological support crossing at 5.25.    

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November soybeans closed up a 1/4-cent at 8.68 3/4.

November soybeans closed fractionally higher on Monday. The high-range close sets the stage for a steady to higher opening when Tuesday'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 November extends the aforementioned decline, the 75% retracement level of the May-June-rally crossing at 8.48 1/2 is the next downside target. Closes above the 20-day moving average crossing at 9.00 1/4 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 9.00 1/4. Second resistance is July's high crossing at 9.36 1/2. First support is the 75% retracement level of the May-June-rally crossing at 8.48 1/2. Second support is the 87% retracement level of the May-June-rally crossing at 8.32 1/2.  

December soybean meal closed up $2.90 at 302.30. 

December soybean meal posted an upside reversal on Monday as it consolidated some of the decline off June's high. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are oversold but are turning neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 311.60 would confirm that a short-term low has been posted. If December extends the decline off June's high, May's low crossing at 291.60 is the next downside target. First resistance is the 20-day moving average crossing at 311.60. Second resistance is the 50-day moving average crossing at 318.60. First support is the 87% retracement level of the May-June-rally crossing at 297.10. Second support is May's low crossing at 291.60.  

December soybean oil closed down 42-pts at 28.29. 

December soybean oil posted an inside day with a lower close on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral signaling that sideways trading is possible near-term. If December renews the rally off July's low, the 50% retracement level of the February-May-decline crossing at 28.91 is the next upside target. If December extends last week's decline, July's low crossing at 27.87 is the next downside 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 July's low crossing at crossing at 27.87. Second support is June's low crossing at 27.60.     

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October hogs closed up $1.70 at $67.42. 

October hogs posted a key reversal up on Monday hinting that a short-term low might have been posted with today's low.The high-range close sets the stage for a steady to higher opening when Tuesday'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 October extends the decline off July's high, the July-2018 low crossing at 58.20 is the next downside target. Closes above the 50-day moving average crossing at 75.36 would confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 75.36. Second resistance is July's high crossing at 81.98. First support is today's low crossing at 61.50. Second support the July-2018 low crossing at 58.20.  

October cattle closed down $0.42 at 107.40. 

October cattle closed lower on Monday. The mid-range close sets the stage for a steady to lower opening on Tuesday. 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 107.22 would confirm that a short-term top has been posted. If October renews the rally off June's low, the 50% retracement level of the March-July-decline crossing at 112.39 is the next upside target. First resistance is the 38% retracement level of the March-July-decline crossing at 110.20. Second resistance is the 50% retracement level of the March-July-decline crossing at 112.39. First support is the 50-day moving average crossing at 107.22. Second support is June's low crossing at 103.27. 

October Feeder cattle closed up $0.45 at $138.43. 

October Feeder cattle closed higher on Monday. The mid-range close sets the stage for a steady to higher opening when Tuesday's session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If October extends the decline off July's high, June's low crossing at 131.95 is the next downside target. If October renews the rally off June's low, the 50% retracement level of the April-June-decline crossing at 147.45 is the next upside target. First resistance is last-Tuesday's high crossing at 144.43. Second resistance is the 50% retracement level of the April-June-decline crossing at 147.45. First support is today's low crossing at 134.57. Second support is June's low crossing at 131.95.    

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

September coffee closed lower on Monday as it extends the decline off July's high. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends the decline off July's high, May's low crossing at 9.05 is the next downside target. Closes above the 20-day moving average crossing at 10.32 would confirm that a short-term low has been posted. 

September cocoa closed lower on Monday as it extends the decline off July's high. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are oversold but remain neutral to bearish signaling sideways to lower prices are possible near-term. If September extends the decline off July's high, May's low crossing at 22.28 is the next downside target. Closes above the 20-day moving average crossing at 24.28 would confirm that a short-term low has been posted. 

October sugar closed lower on Monday. The mid-range close set the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If October extends today's decline, July's low crossing at 11.39 is the next downside target. Closes above the 50-day moving average crossing at 12.35 would renew the rally off July's low.

December cotton closed lower on Monday as it extended this year's decline. The mid-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends this year's decline, monthly support crossing at 54.38 is the next downside target. Closes above the 20-day moving average crossing at 62.95 are needed to open the door for a possible test of July's high crossing at 68.35.