KEY EVENTS TO WATCH FOR:

Thursday, September 5, 2019  

7:30 AM ET. August Challenger Job-Cut Report

                       Job Cuts, M/M% (previous -7.5%)

8:15 AM ET. August ADP National Employment Report

                       Private Sector Jobs, Net Chg (previous +156000)

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

                       Jobless Claims (previous 215K)

                       Jobless Claims, Net Chg (previous +4K)

                       Continuing Claims (previous 1698000)

                       Continuing Claims, Net Chg (previous +22K)

8:30 AM ET. 2^nd Quarter Revised Productivity & Costs

                       Non-Farm Productivity (previous +3.4%)

                       Unit Labor Costs (previous -1.6%)

9:45 AM ET. Bloomberg Consumer Comfort Index

9:45 AM ET. August US Services PMI

                       PMI, Services (previous 53.0)

10:00 AM ET. July Manufacturers' Shipments, Inventories & Orders (M3)

                       Total Orders, M/M%  (previous +0.6%)

                       Orders, Ex-Defense, M/M% (previous +1.1%)

                       Orders, Ex-Transport, M/M% (previous +0.1%)

                       Durable Goods, M/M% (previous +2.0%)

                       Durable Goods, M/M% (previous +1.9%)

10:00 AM ET. August ISM Non-Manufacturing Report on Business

                       Non-Mfg Composite Idx (previous 53.7)

                       Non-Mfg Business Idx (previous 53.1)

                       Prices Idx (previous 56.5)

                       Employment Idx (previous 56.2)

                       New Orders Idx (previous 54.1)

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

                       Working Gas In Storage (Cbf) (previous 2857B)

                       Working Gas In Storage, Net Chg (Cbf) (previous +60B)

11:00 AM ET. EIA Weekly Petroleum Status Report

                       Crude Oil Stocks (Bbl) (previous 427.751M)

                       Crude Oil Stocks, Net Chg (Bbl) (previous -10.027M)

                       Gasoline Stocks (Bbl) (previous 231.982M)

                       Gasoline Stocks, Net Chg (Bbl) (previous -2.09M)

                       Distillate Stocks (Bbl) (previous 136.06M)

                       Distillate Stocks, Net Chg (Bbl) (previous -2.063M)

                       Refinery Usage (previous 95.2%)

                       Total Prod Supplied (Bbl/day) (previous 22.209M)

                       Total Prod Supplied, Net Chg (Bbl/day) (previous +1.222M)

11:00 AM ET. August Global Services PMI

                       PMI, Services (previous 52.5)

11:00 AM ET. SEC Investor Advisory Committee meets via telephone

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

4:30 PM ET. Federal Discount Window Borrowings

4:30 PM ET. Foreign Central Bank Holdings

4:30 PM ET. Money Stock Measures

Friday, September 6, 2019 

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

                       Non-Farm Payrolls (previous +164K)

                       Unemployment Rate (previous 3.7%)

                       Avg Hourly Earnings (USD) (previous 27.98)

                       Avg Hourly Earnings-Net Chg (USD) (previous +0.08)

                       Avg Hourly Earnings, M/M% (previous +0.29%)

                       Avg Hourly Earnings, Y/Y% (previous +3.2%)

                       Overall Workweek (previous 34.3)

                       Overall Workweek Net Chg (previous -0.1)

                       Government Payrolls (previous +16K)

                       Private Payroll (previous +148K)

                       Participation Rate (previous 63.0%)

                       Non-Farm Payrolls Bench Net Chg

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

                       Corn (Metric Tons) (previous 856.5K)

                       Soybeans (Metric Tons) (previous 448.3K)

                       Wheat (Metric Tons) (previous 661.7K)

10:00 AM ET. 2^nd Quarter Quarterly Services

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

The September NASDAQ 100 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. Closes above the 50-day moving average crossing at 7756.09 are needed to confirm that a short-term low has been posted while opening the door for additional gains near-term. If September renews the decline off last-Friday's high, the 75% retracement level of the June-July-rally crossing at 7237.04 is the next downside target. First resistance is the 50-day moving average crossing at 7756.09. Second resistance is July's high crossing at 8051.75. First support isthe 75% retracement level of the June-July-rally crossing at 7237.04. Second support is the 87% retracement level of the June-July-rally crossing at 7107.06. 

The September S&P 500 closed higher on Wednesday ending a two-day setback. 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. Closes above the 50-day moving average crossing at 2944.90 are needed to renew the rally off August's low. Closes below the 20-day moving average crossing at 2898.99 would temper the near-term friendly outlook. First resistance is the 50-day moving average crossing at 2944.90. Second resistance is July's high crossing at 3029.00. First support is the 87% retracement level of the June-July-rally crossing at 2774.78. Second support is June's low crossing at 2337.00.  

The Dow gapped up and 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 are turning neutral to bearish hinting that a short-term top might be in or is near. Closes below Tuesday's low crossing at 25,978.22 would confirm that a short-term top has been posted. Closes above the 50-day moving average crossing at 26,557.96 are needed to confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 26,557.96. Second resistance is July's high crossing at 27,398.68. 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.

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

September T-bonds closed down 5/32's at 166-19.

September T-bonds closed lower 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 signaling that sideways trading is possible near-term. If September extends the rally off July's low, weekly resistance crossing at 170-26 is the next upside target. Closes below the 20-day moving average crossing at 164-21 are needed to confirm that a short-term top has been posted. First resistance is last-Wednesday's high crossing at 167-18. Second resistance is weekly resistance crossing at 170-26. First support is the 20-day moving average crossing at 164-21. Second support is the reaction low crossing at 159-23.          

September T-notes closed up 40-pts. At 131.185.

September T-notes closed higher on Wednesday as it extends this year's rally. 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 are neutral to bullish signaling that sideways trading is possible near-term. If September extends the rally off July's low, weekly resistance crossing at 132.016 is the next upside target. Closes below the 20-day moving average crossing at 130.203 would confirm that a short-term top has been posted. First resistance is Tuesday's high crossing at 131.195. Second resistance is weekly resistance crossing at 132.016. First support is the 20-day moving average crossing at 130.203. Second support is the 50-day moving average crossing at 128.291.        

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

October crude oil closed higher on Wednesday. The high-range close sets the stage for a steady to higher opening when Thursday's night session begins. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If October renews the rally off August's low, the late-July high crossing at 60.93 is the next upside target. If October renews the decline off July's high, the 75% retracement level of the 2018/2019 rally crossing at 49.99 is the next downside target. First resistance is the reaction high crossing at 57.40. Second resistance is the late-July high crossing at 58.86. First support is August's low crossing at 50.50. Second support is the 75% retracement level of the 2018/2019 rally crossing at 49.99. 

October heating oil closed higher on Wednesday. The high-range close sets the stage for a steady to higher opening when Thursday's night trading session begins. 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 189.22 are needed to confirm that a short-term low has been posted. If October resumes the decline off July's high, the December-2018 low crossing at 165.77 is the next downside target. First resistance is the 50-day moving average crossing at 189.22. Second resistance is the late-July high crossing at 198.13. First support is August's low crossing at 175.15. Second support is the December-2018 low crossing at 165.77. 

October unleaded gas 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. If October renews the decline off July's high, the December-2018 low crossing at 130.42 is the next downside target. Closes above last-Wednesday's high crossing at 158.28 are needed to confirm that a short-term low has been posted. First resistance is last-Wednesday's high crossing at 158.28. Second resistance is the 50-day moving average crossing at 161.87. First support is Tuesday's low crossing at 144.75. Second support is the December-2018 low crossing at 130.42.

October Henry natural gas closed higher on Wednesday and above the May-March downtrend line confirming that the short-term trend has turned sideways to higher prices are possible near-term. 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 October extends the aforementioned rally, the 50% retracement level of the March-August decline crossing near 2.523 is the next upside target. Closes below the 20-day moving average crossing at 2.210 would confirm that a short-term top has been posted. First resistance is today's high crossing at 2.457. Second resistance is the 50% retracement level of the March-August decline crossing near 2.523. First support is the 20-day moving average crossing at 2.210. Second support is August's low crossing at 2.045.        

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

The September Dollar closed sharply lower on Wednesday as it consolidated some of this year'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 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 98.06 would confirm that a short-term top has been posted. If September extends Tuesday's rally, weekly resistance crossing at 99.90 is the next upside target. First resistance is Tuesday's high crossing at 99.33. Second resistance is weekly resistance crossing at 99.90. First support is the 50-day moving average crossing at 97.43. Second support is last-Monday's low crossing at 97.37.

The September Euro closed higher on Wednesday as it consolidates some of this year's decline. 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 oversold but are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 111.27 are needed to confirm that a short-term low has been posted. If September extends the decline off August's high, weekly support crossing at 109.21 is the next downside target. First resistance is the 20-day moving average crossing at 111.27. Second resistance is the 50-day moving average crossing at 112.17. First support is Tuesday's low crossing at 109.36. Second support ismonthly support crossing at 109.21.

The September British Pound 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. Closes above the 50-day moving average crossing at 1.2356 are needed to confirm that a short-term low has been posted. If September extends the decline off June's high, monthly support crossing at 1.1877 is the next downside target. First resistance is the 50-day moving average crossing at 1.2356. Second resistance is the reaction high crossing at 1.2615. First support is Tuesday's low crossing at 1.1965. Second support is monthly support crossing at 1.1877.  

The September Swiss Franc closed sharply higher on Wednesday as it consolidates some of the decline off last-Friday's high. 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. Closes above the 20-day moving average crossing at 1.0236 would confirm that a short-term low has been posted. If September extends the decline off August's high, August's low crossing at 1.0064 is the next downside target. First resistance is August's high crossing at 1.0384. Second resistance is June's high crossing at 1.0392. First support is August's low crossing at 1.0064. Second support is the 75% retracement level of the May-June-rally crossing at 1.0024.

The September Canadian Dollar closed sharply 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 September extends today's rally, the 50-day moving average crossing at 75.90 is the next upside target. If September resumes the decline off July's high, the 75% retracement level of the June-July-rally crossing at 74.68 is the next downside target. First resistance is the 50-day moving average crossing at 75.90. Second resistance is the July 31^st reaction high crossing at 76.37. First support is the 75% retracement level of the June-July-rally crossing at 74.68. Second support is the 87% retracement level of the June-July-rally crossing at 74.32.   

The September Japanese Yen 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 0.0936 would confirm that a short-term top has been posted. If September resumes the rally off August's low, the 62% retracement level of the 2018-2019-decline crossing at 0.0960 is the next upside target. First resistance is the 62% retracement level of the 2018-2019-decline crossing at 0.0960. Second resistance is the 75% retracement level of the 2018-2019-decline crossing at 0.0972. First support is the 50-day moving average crossing 0.0936. Second support is August's low crossing at 0.0918.  

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

October gold 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 October extends the rally off May's low, the 62% retracement level of the 2011-2015-decline on the weekly continuation chart crossing at 1588.20 is the next upside target. Closes below the 20-day moving average crossing at 1521.70 would confirm that a short-term top has been posted. First resistance is today's high crossing at 1559.80. Second resistance is the 62% retracement level of the 2011-2015-decline on the weekly continuation chart crossing at 1588.20. First support is the 20-day moving average crossing at 1521.70. Second support is the 50-day moving average crossing at 1465.50.

December silver closed higher on Wednesday as it extends this year's rally. The high-range close set 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 December extends the rally off May's low, the 75% retracement of the 2016-2018 decline crossing at 19.803 is the next upside target. Closes below the 20-day moving average crossing at 17.710 are needed to confirm that a short-term top has been posted. First resistance is today's high crossing at 19.690. Second resistance is the 75% retracement level of the 2016-2018 decline crossing at 19.803. First support is the 10-day moving average crossing at 18.231. Second support is the 20-day moving average crossing at 17.710.          

December copper closed sharply higher on Wednesday and above the 20-day moving average crossing at 259.15 tempers the near-term bearish outlook. 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 December extends today's rally, the 50-day moving average crossing at 264.50 is the next upside target. If December renews the decline off July's high, weekly support crossing at 234.12 is the next downside target. First resistance is the 50-day moving average crossing at 264.50. Second resistance is July's high crossing at 280.50. First support is Tuesday's low crossing at 248.20. Second support is weekly support crossing at 234.12.  

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

December Corn closed down 3-cents at 3.58. 

December corn closed lower on Wednesday as it extends the decline off June's high. The low-range close sets the stage for a steady to lower opening when Thursday's night sessions begins trading. Stochastics and the RSI oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off July's high, weekly resistance crossing at 3.56 1/4 is the next downside target. Closes above the 20-day moving average crossing at 3.78 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 3.78. Second resistance is the August 13^th gap crossing at 3.92 3/4. First support is today's low crossing at 3.56 1/2. Second support is psychological support crossing at 3.50.  

December wheat closed up 7-cents at 4.60 1/2. 

December wheat closed higher on Wednesday as it consolidated some of the decline off June's high. 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 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, May's low crossing at 4.42 1/4 is the next downside target. Closes above the 20-day moving average crossing at 4.75 1/2 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 4.75 1/2. Second resistance is the reaction high crossing at 5.06 1/4. First support is Tuesday's low crossing at 4.50 1/2. Second support is May's low crossing at 4.42 1/4.     

December Kansas City Wheat closed up 2 1/4-cents at 3.84 1/2.

December Kansas City wheat closed higher on Wednesday as it consolidated some of Tuesday's decline. The low-range close sets the stage for a steady to lower opening when Thursday 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, weekly support crossing at 3.74 1/4 is the next downside target. Multiple closes above the 20-day moving average crossing at 4.06 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 4.06. Second resistance is the 50-day moving average crossing at 4.39 3/4. First support is Tuesday's low crossing at 3.81. Second support is weekly support crossing at 3.74 1/4.  

December Minneapolis wheat closed up 7-cents at 4.94. 

December Minneapolis wheat closed higher due to short covering 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 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, monthly support crossing at 4.80 1/4 is the next downside target. Closes above the 20-day moving average crossing at 5.13 1/4 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 5.13 1/4. Second resistance is the 50-day moving average crossing at 5.33. First support is Tuesday's low crossing at 4.86 1/2. Second support is monthly support crossing at 4.80 1/4.    

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

November soybeans closed up 6-cents at 8.74 1/2.

November 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 neutral to bullish signaling that sideways to higher prices are possible near-term. Multiple closes above the 50-day moving average crossing at 8.89 3/4 are needed to confirm that a short-term low has been posted. If November renews the decline off June's high, the 75% retracement level of the May-June-rally crossing at 8.48 1/2 is the next downside target. First resistance is the 50-day moving average crossing at 8.89 3/4. Second resistance is the reaction high crossing at 8.96 3/4. 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 $3.60 at 297.70. 

December soybean meal 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 are oversold and are turning neutral to bullish signaling that a low might be in or is near. Closes above the reaction high crossing at 306.30 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 reaction high crossing at 306.30. Second resistance is the 50-day moving average crossing at 307.30. First support is Tuesday's low crossing at 293.70. Second support is May's low crossing at 291.60.   

December soybean oil closed down 10-pts at 28.99. 

December soybean oil 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. If December extends Tuesday's rally, the reaction high crossing at 29.32 is the next upside target. If December renews the decline off August's high, August's low crossing at 27.88 is the next downside target. First resistance is August's high crossing at 30.25. Second resistance is the 75% retracement level of the February-May-decline crossing at 30.79. First support is August's low crossing at 27.88. Second support is May's low crossing at crossing at 26.96.      

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

October hogs closed up $0.60 at $67.13. 

October hogs 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 October extends this week's rally, the 50-day moving average crossing at 69.82 is the next upside target. Closes below the 10-day moving average crossing at 63.75 would confirm that a short-term top has been posted. First resistance is today's high crossing at 67.40. Second resistance is the 50-day moving average crossing at 69.82. First support is August's low crossing at 59.30. Second support the July-2018 low crossing at 58.20.  

October cattle closed down $0.25 at 99.03. 

October cattle closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening on Thursday. 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 100.70 would confirm that a short-term low has been posted. If October renews the decline off July's high, weekly support crossing at 97.08 is the next downside target. First resistance is the August 13th gap crossing at 103.75. Second resistance is the 50-day moving average crossing at 105.14. First support is August's low crossing at 97.78. Second support is weekly support crossing at 97.08. 

October Feeder cattle closed up $1.33 at $133.43. 

October Feeder cattle closed higher 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 signaling that sideways trading is possible near-term. If October renews the decline off July's high, weekly support crossing at 126.09 is the next downside target. Closes above the 50-day moving average crossing at 137.75 would confirm that a low has been posted. First resistance is the 50-day moving average crossing at 137.75. Second resistance is July's high crossing at 144.43. First support is August's low crossing at 127.32. Second support is weekly support crossing at 126.09.    

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

December coffee closed higher on Wednesday as it extends the trading range of the past three-weeks. The high-range close sets the stage for a steady to higher opening on Thursday. 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 9.85 would confirm that a short-term low has been posted. If September resumes the decline off July's high, weekly support crossing at 8.76 is the next downside target.     

December cocoa 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 bullish signaling sideways to higher prices are possible near-term. Closes above last-Monday's high crossing at 22.79 are needed to confirm that a short-term low has been posted and would open the door for additional gains near-term. If December resumes the decline off July's high, last-October's low crossing at 20.83 is the next downside target. 

October sugar closed lower on Wednesday as it extends this year's decline. The low-range close set the stage for a steady to lower opening on Thursday. 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 June's high, weekly support crossing at 10.80 is the next downside target. Closes above the 20-day moving average crossing at 11.44 would confirm that a low has been posted. 

December cotton closed higher on Wednesday. The low-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If December renews this year's decline, monthly support crossing at 54.38 is the next downside target. Multiple closes above the 20-day moving average crossing at 58.90 are needed to confirm that a low has been posted.