KEY EVENTS TO WATCH FOR:

Monday, September 9, 2019    

10:00 AM ET. August Employment Trends Index

                       ETI (previous 110.98)

                       ETI, Y/Y%

3:00 PM ET. July Consumer Credit

                       Consumer Credit Net Chg (USD) (previous +14.6B)

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

The September NASDAQ 100 closed slightly higher on Friday as it extends the rally off August's low.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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off the August 26^th low, July's high crossing at 8051.75 is the next upside target. Closes below Tuesday's low crossing at 7580.75 would confirm that a short-term top has been posted. First resistance is today's high crossing at 7895.00. Second resistance is July's high crossing at 8051.75. 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 higher on Friday as it extends the rally off August's low. 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 September extends this week's rally, July's high crossing at 3029.00 is the next upside target. Closes below Tuesday's low crossing at 2890.30 would confirm that a short-term top has been posted. First resistance is Thursday's high crossing at 2986.00. Second resistance is July's high crossing at 3029.00. First support is the 75% retracement level of the June-July-rally crossing at 2809.83. Second support is August's low crossing at 2776.30.  

The Dow closed higher on Friday as it extends the rally off August's low. 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 this week's rally, July's high crossing at 27,398.68. Closes below Tuesday's low crossing at 25,978.22 would confirm that a short-term top has been posted. First resistance is today's high crossing at 26,860.87. 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.

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September T-bonds closed up 22/32's at 165-12.

September T-bonds closed higher on Friday as it consolidates some of Thursday's decline. 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 bearish signaling that sideways to lower prices are possible near-term. If September extends this week's decline, the reaction low crossing at 162-30 is the next downside target. If September resumes the rally off July's low, weekly resistance crossing at 170-26 is the next upside target. First resistance is August's high crossing at 167-18. Second resistance is weekly resistance crossing at 170-26. First support is the reaction low crossing at 162-30. Second support is the 50-day moving average crossing at 159-18.          

September T-notes closed up 25-pts. At 130.235.

September T-notes 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 bearish signaling that sideways to lower prices are possible near-term. Multiple closes below the 20-day moving average crossing at 130.231 would confirm that a short-term top has been posted. If September extends the rally off July's low, weekly resistance crossing at 132.016 is the next upside target. 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 130.231. Second support is the 50-day moving average crossing at 129.006.       

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October crude oil closed slightly higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday's night session begins. Stochastics and the RSI are 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 Thursday's high crossing at 57.76. 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 Friday. The high-range close sets the stage for a steady to higher opening when Monday's night trading session begins. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Today's close above the 50-day moving average crossing at 188.89 confirms that a short-term low has been posted. If October extends this week's rally, the late-July high crossing at 198.13 is the next upside target. 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 Thursday's high crossing at 192.06. Second resistance is the late-July high crossing at 198.13. First support is Tuesday's low crossing at 177.70. Second support is August's low crossing at 175.15. 

October unleaded gas 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 last-Wednesday's high crossing at 158.28 are needed to confirm that a short-term low has been posted. If October renews the decline off July's high, the December-2018 low crossing at 130.42 is the next downside target. First resistance is last-Wednesday's high crossing at 158.28. Second resistance is the 50-day moving average crossing at 161.32. 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 Friday as it extended the rally off August's low. 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 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 2.244 would confirm that a short-term top has been posted. First resistance is today's high crossing at 2.505. 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 2.244. Second support is August's low crossing at 2.045.        

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The September Dollar posted an inside day with a slightly lower close on Friday. 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 neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 98.15 would confirm that a short-term top has been posted. If September renews the rally off June's low, 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 20-day moving averagecrossing at 98.15. Second support is the 50-day moving average crossing at 97.54.

The September Euro closed slightly lower on Friday as it consolidates some of the rally off Tuesday's low. 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 111.09 are needed to confirm that a short-term low has been posted. If September renews 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 111.09. Second resistance is the 50-day moving average crossing at 112.01. First support is Tuesday's low crossing at 109.36. Second support ismonthly support crossing at 109.21.

The September British Pound closed lower on Friday as it consolidates below resistance marked by the 50-day moving average crossing at 1.2340. 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 1.2340 are needed to confirm that a short-term low has been posted and would open the door for additional gains near-term. If September renews 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 1.2340. 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 lower on Friday. The mid-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 sideways to higher prices are possible near-term. If September renews the decline off August's high, August's low crossing at 1.0064 is the next downside target. Closes above the 20-day moving average crossing at 1.0221 would confirm that a short-term low has been posted. First resistance is the August 26th high crossing at 1.0314. Second resistance is August's high crossing at 1.0384. 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 lower on Friday and above the 50-day moving average crossing at 75.89 thereby opening the door for additional gains near-term. 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends this week's rally, 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 July 31^st reaction high crossing at 76.37. Second resistance is July's high crossing at 76.92. 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 posted an inside day with a higher closed on Friday as it consolidated some of this week's decline. The mid-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 this week's decline, August's low crossing at 0.0918 is the next downside target. 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 Thursday's low crossing 0.0933. Second support is August's low crossing at 0.0918.  

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October gold closed sharply lower on Friday as it extended Thursday's decline below the 20-day moving average crossing at 1522.30 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 October extends this week's decline, the 50-day moving average crossing at 1469.00 is the next downside target. If October renews 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. First resistance is Wednesday'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 reaction low crossing at 1496.10. Second support is the 50-day moving average crossing at 1469.00.

December silver closed sharply 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 have turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 17.841 are needed to confirm that a short-term top has been posted. If December resumes the rally off May's low, the 75% retracement of the 2016-2018 decline crossing at 19.803 is the next upside target. First resistance is Wednesday's high crossing at 19.750. Second resistance is the 75% retracement level of the 2016-2018 decline crossing at 19.803. First support is the 20-day moving average crossing at 17.841. Second support is the 50-day moving average crossing at 16.771.          

December copper 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 264.12 are needed to open the door for a larger-degree rally off Tuesday's high. 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 264.12. 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.  

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December Corn closed down 3 1/4-cents at 3.55 1/2. 

December corn closed lower on Friday as it extends the decline off June's high. The low-range close sets the stage for a steady to lower opening when Monday'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, psychological support crossing at 3.50 is the next downside target. Closes above the 20-day moving average crossing at 3.72 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 3.72. Second resistance is the August 13^th gap crossing at 3.92 3/4. First support is today's low crossing at 3.53. Second support is psychological support crossing at 3.50.  

December wheat closed down 3 3/4-cents at 4.62 1/2. 

December wheat closed lower on Friday ending a two-day rebound off Tuesday's low. 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 4.72 1/4 are needed to confirm that a short-term low has been posted. If December resumes the decline off June's high, May's low crossing at 4.42 1/4 is the next downside target. First resistance is the 20-day moving average crossing at 4.72 1/4. 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 down a 1/2-cent at 3.93 1/4.

December Kansas City wheat closed fractionally lower on Friday. The high-range close sets the stage for a steady to higher opening when Monday 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 4.02 are needed to confirm that a short-term low has been posted. If December extends the decline off June's high, weekly support crossing at 3.74 1/4 is the next downside target. First resistance is the 20-day moving average crossing at 4.02. Second resistance is the 50-day moving average crossing at 4.35. 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 down 7 3/4-cents at 4.94 1/4. 

December 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 are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 5.10 are needed to confirm that a short-term low has been posted. If December extends the decline off June's high, monthly support crossing at 4.80 1/4 is the next downside target. First resistance is the 20-day moving average crossing at 5.10. Second resistance is the 50-day moving average crossing at 5.30. First support is Tuesday's low crossing at 4.86 1/2. Second support is monthly support crossing at 4.80 1/4.    

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November soybeans closed down 4-cents at 8.57 1/2.

November soybeans 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 turning neutral to bearish signaling that sideways to lower prices are possible near-term. 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. Multiple closes above the 50-day moving average crossing at 8.87 1/4 are needed to confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 8.87 1/4. 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 down $1.70 at 292.80. 

December soybean meal 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible. If December extends the decline off June's high, May's low crossing at 291.60 is the next downside target. Closes above the 50-day moving average crossing at 306.10 would confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 306.10. Second resistance is the reaction high crossing at 306.30. First support is today's low crossing at 292.70. Second support is May's low crossing at 291.60.   

December soybean oil closed down 1-pt. at 28.63. 

December soybean oil 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 turning neutral to bearish signaling that sideways to lower prices are possible near-term. If December renews the decline off August's high, August's low crossing at 27.88 is the next downside target. If December renews Tuesday's rally, the reaction high crossing at 29.32 is the next upside 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.      

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October hogs closed down $2.80 at $63.50. 

October hogs gapped down and closed sharply lower on Friday and below the 10-day moving average crossing at 64.17 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 turning neutral to bearish signaling that sideways to lower prices are possible near-term. If October renewed today's decline, August's low crossing at 59.30 is the next downside target. If October extends this week's rally, the 50-day moving average crossing at 69.63 is the next upside target. First resistance is Thursday's high crossing at 68.00. Second resistance is the 50-day moving average crossing at 69.63. First support is August's low crossing at 59.30. Second support the July-2018 low crossing at 58.20.  

October cattle closed down $3.00 at 94.87. 

October cattle closed limit down on Friday as it extended the decline off July's high. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term. If October extends the decline off July's high, weekly support crossing at 83.42 is the next downside target. Closes above the 20-day moving average crossing at 99.68 would confirm that a short-term low has been posted. First resistance is the August 13th gap crossing at 103.75. Second resistance is the 50-day moving average crossing at 104.77. First support is today's low crossing at 94.87. Second support is weekly support crossing at 83.42. 

October Feeder cattle closed down $1.42 at $130.90. 

October Feeder cattle closed lower on Friday. The mid-range close sets the stage for a steady to lower opening when Monday's session begins trading. Stochastics and the RSI are neutral to lower 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 137.64 would confirm that a low has been posted. First resistance is the 50-day moving average crossing at 137.64. 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 Friday 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 Monday. 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 Friday. The high-range close sets the stage for a steady to higher opening on Monday. 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 posted an inside day with a slightly higher close on Friday. The high-range close set the stage for a steady to higher opening on Monday. 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 11.40 would confirm that a low has been posted. 

December cotton closed lower on Friday as it extends the trading range of the past five-weeks. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Multiple closes above the reaction high crossing at 60.25 are needed to confirm that a low has been posted. If December renews this year's decline, monthly support crossing at 54.38 is the next downside target.