KEY EVENTS TO WATCH FOR:

Wednesday, September 25, 2019  

7:00 AM ET. MBA Weekly Mortgage Applications Survey

                       Composite Idx (previous 569.5)

                       Composite Idx, W/W% (previous -0.1%)

                       Purchase Idx-SA (previous 269.7)

                       Purchase Idx-SA, W/W% (previous +6.4%)

                       Refinance Idx (previous 2274.1)

                       Refinance Idx, W/W% (previous -4.3%)

10:00 AM ET. August New Residential Sales

                       New Home Sales (previous 635K)

                       New Home Sales, M/M% (previous -12.8%)

                       New Home Sales Months Supply (previous 6.4)

10:30 AM ET. EIA Weekly Petroleum Status Report

                       Crude Oil Stocks (Bbl) (previous 417.126M)

                       Crude Oil Stocks, Net Chg (Bbl) (previous +1.058M)

                       Gasoline Stocks (Bbl) (previous 229.685M)

                       Gasoline Stocks, Net Chg (Bbl) (previous +0.781M)

                       Distillate Stocks (Bbl) (previous 136.663M)

                       Distillate Stocks, Net Chg (Bbl) (previous +0.437M)

                       Refinery Usage (previous 91.2%)

                       Total Prod Supplied (Bbl/day) (previous 20.262M)

                       Total Prod Supplied, Net Chg (Bbl/day) (previous -1.178M)

Thursday, September 26, 2019  

8:30 AM ET. 2^nd Quarter Revised Corporate Profits

8:30 AM ET. 2^nd Quarter 3rd estimate GDP

                       Annual Rate, Q/Q% (previous +2.0%)

                       Chain-Weighted Price Idx, Q/Q% (previous +2.4%)

                       Corporate Profits, Q/Q% (previous +4.8%)

                       PCE Price Idx, Q/Q% (previous +2.3%)

                       Purchase Price Idx, Q/Q% (previous +2.2%)

                       Real Final Sales, Q/Q% (previous +3.0%)

                       Core PCE Price Idx, Ex (previous +1.7%)

                       Food/Energy, Q/Q%  

                       Personal Consumption, Q/Q% (previous +4.7%)

8:30 AM ET. August Advance Economic Indicators Report

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

                       Jobless Claims (previous 208K)

                       Jobless Claims, Net Chg (previous +2K)

                       Continuing Claims (previous 1661000)

                       Continuing Claims, Net Chg (previous -13K)

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

                       Corn (Metric Tons) (previous 1529.5K)

                       Soybeans (Metric Tons) (previous 1728.1K)

                       Wheat (Metric Tons) (previous 286.6K)

9:45 AM ET. Bloomberg Consumer Comfort Index

10:00 AM ET. August Pending Home Sales Index

                       Pending Home Sales (previous 105.6)

                       Pending Home Sales Idx, M/M% (previous -2.5%)

                       Pending Home Sales Idx , Y/Y% (previous -0.3%)

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

                       Working Gas In Storage (Cbf) (previous 3103B)

                       Working Gas In Storage, Net Chg (Cbf) (previous +84B)

11:00 AM ET. Sept. Federal Reserve Bank of Kansas City Survey of Tenth District Manufacturing

                       Mfg Activity Idx (previous -2)

                       6-Mo Exp Prod Idx (previous 23)

                       Mfg Composite Idx (previous -6)

                       6-Mo Exp Composite Idx (previous 11)

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 27, 2019  

8:30 AM ET. August Personal Income & Outlays

                       Personal Income, M/M% (previous +0.1%)

                       Consumer Spending, M/M% (previous +0.6%)

                       PCE Price Idx, M/M% (previous +0.2%)

                       PCE Price Idx, Y/Y% (previous +1.4%)

                       PCE Core Price Idx, M/M% (previous +0.2%)

                       PCE Core Price Idx, Y/Y% (previous +1.6%)

8:30 AM ET. August Advance Report on Durable Goods

                       Durable Goods-SA, M/M% (previous +2.1%)

                       Dur Goods, Ex-Defense, M/M% (previous +1.4%)

                       Dur Goods, Ex-Transport, M/M% (previous -0.4%)

                       Orders: Cap Gds, Non-Def, Ex-Air, M/M% (previous +0.4%)

                       Shipmnts: Cap Gds, Non-Def, Ex-Air, M/M% (previous -0.7%)

10:00 AM ET. September University of Michigan Survey of Consumers – final

                       End-Mo Sentiment Idx (previous 89.8)

                       End-Mo Expectations Idx (previous 79.9)

                       12-Month Inflation Forecast (previous 2.7%)

                       5-Year Inflation Forecast (previous 2.6%)

                       End-Mo Current Idx (previous 105.3)

3:00 PM ET. September Agricultural Prices

                       Farm Prices, M/M% (previous -2.9%)     

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

The STOCK INDEXES:The December NASDAQ 100 was lower in overnight trading amid the political cloud surrounding President Trump ahead of key trade talks between the U.S. and China. The political turmoil around Donald Trump’s official impeachment inquiry, combined to rising fears of a no agreement with China in October trade talks is underpinning this week's selloff. The low-range overnight trade sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Tuesday's close below the 50-day moving average crossing at 7780.79 confirms that a short-term top has been posted while opening the door for additional weakness near-term. If December resumes the rally off August's low, July's high crossing at 8175.75 is the next upside target. First resistance is September 12^th high crossing at 8002.50. Second resistance is July's high crossing at 8175.75. First support is August's uptrend line crossing near 7611.70. Second support is the August 26^th low crossing at 7353.25.

The December S&P 500 was lower overnight as it extended Tuesday's decline. The low-range overnight trade sets the stage for a steady to lower opening when the day session begins trading later this morning.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 2974.26 would confirm that a short-term top has been posted. If September resumes the rally off August's low, July's high crossing at 3029.00 is the next upside target. First resistance is the September 13^th high crossing at 3025.30. Second resistance is July's high crossing at 3029.00. First support is the 50-day moving average crossing at 2951.08. Second support is September's low crossing at 2895.00.

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

INTEREST RATES: December T-bonds were higher overnight as they extend the rally off the September 13^th low. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Tuesday's close above the 20-day moving average crossing at 162-09 confirming that a short-term low has been posted. If December resumes the decline off August's high, the 50% retracement level of the April-August-rally crossing at 155-27 is the next downside target. First resistance is the overnight high crossing at 163-10. Second resistance is August's high crossing at 166-25. First support is the September 13^th low crossing at 157-17. Second support is the 50% retracement level of the April-August-rally crossing at 155-27.

December T-notes were steady to slightly higher overnight as it extends the rally off September 13^th low. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. Tuesday's close above the 20-day moving average crossing at 130.149 confirms that a short-term low has been posted. If December renews the decline off September's high, the 50% retracement level of the March-September-rally crossing at 127.171 is the next downside target. First resistance is Tuesday's high crossing at 130.250. Second resistance is September's high crossing at 132.130. First support is  September 13^th low crossing at 128.160. Second support is the 50% retracement level of the March-September-rally crossing at 127.171. 

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

November crude oil was lower overnight as it extends the decline off September's high. The low-range overnight trade sets the stage for a steady to lower opening when the day 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 55.96 would confirm that a short-term top has been posted. If November resumes the rally off August's low, April's high crossing at 65.23 is the next upside target. First resistance is September's high crossing at 63.89. Second resistance is April's high crossing at 65.23. First support is the September 12th low crossing at 59.93. Second support is September's low crossing at 52.71.  

November heating oil was lower overnight as it extends this week's decline. The low-range overnight trade sets the stage for a lower opening when the day 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 189.31 are needed to confirm that a short-term top has been posted. If November resumes the rally off August's low, May's high crossing at 215.12 the next upside target. First resistance is last-Tuesday's high crossing at 209.35. Second resistance is May's high crossing at 215.12. First support is the September 12^th low crossing at 185.15. Second support is September's low crossing at 178.06.

November unleaded gas was lower overnight as it extends the decline off last-Monday's high. The low-range overnight trade sets the stage for a steady to lower opening when the day 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 157.76 would confirm that a short-term top has been posted.If November resumes the rally off September's low, May's high crossing at 177.80 is the next upside target. First resistance is last-Monday's high crossing at 175.26. Second resistance is May's high crossing at 177.80. First support is September 12^th low crossing at 149.84. Second support is September's low crossing at 143.10.

November Henry natural gas was lower overnight as it extends the decline off the September 17^th high. The low-range overnight trade sets the stage for a steady to lower opening when the day 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 2.691 would confirm that a short-term top has been posted. If October resumes the rally off August's low, the 75% retracement level of the March-August decline crossing at 2.812 is the next upside target. First resistance is last-Tuesday's high crossing at 2.745. Second resistance is the 75% retracement level of the March-August decline crossing at 2.812. First support is the 20-day moving average crossing at 2.691. Second support is the 50-day moving average crossing at 2.553.

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

CURRENCIES:The December Dollar was higher overnight as it extends the trading range of the past four-weeks. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If December resumes the rally off August's low, weekly resistance crossing at 99.90 is the next upside target. Closes below the reaction low crossing at 97.56 would confirm that a short-term top has been posted while opening the door for additional weakness near-term. First resistance is the September 3^rd high crossing at 98.90. Second resistance is weekly resistance crossing at 99.90. First support is the 50-day moving average crossing at 97.56. Second support is the August 26^th low crossing at 96.96.  

The December Euro was lower overnight while extending the trading range of the past four-weeks. The low-range overnight trade sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If December resumes the decline off June's high, monthly support crossing at 109.21 is the next downside target. If December renews the rally off last-Thursday's low, the 50-day moving average crossing at 111.97 is the next upside target. First resistance is the 50-day moving average crossing at 111.97. Second resistance is August's high crossing at 113.55. First support is the September 12^th low crossing at 110.02. Second support is monthly support crossing at 109.21.    

The December British Pound was lower overnight. The low-range overnight trade sets the stage for a steady to lower opening when the day session beings trading. Stochastics and the RSI have turned neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 1.2401 would confirm that a short-term top has been posted. If December resumes the rally off September's low, the 50% retracement level of the February-September-decline crossing at 1.2776 is the next upside target. First resistance is the 38% retracement level of the February-September-decline crossing at 1.2595. Second resistance is the 50% retracement level of the February-September-decline crossing at 1.2776. First support is the 20-day moving average crossing at 1.2401. Second support is September's low crossing at 1.2008.

The December Swiss Franc was steady to slightly lower overnight. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off September's low, September's high crossing at the September 4th reaction high crossing at 1.0298 is the next upside target. If December resumes the decline off August's high, the 87% retracement level of the May-June rally crossing at 1.0059 is the next downside target. First resistance is Tuesday's high crossing at 1.0230. Second resistance is the September 4th reaction high crossing at 1.0298. First support is the 75% retracement level of the May-June rally crossing at 1.0114. Second support is the 87% retracement level of the May-June rally crossing at 1.0059.

The December Canadian Dollar was lower overnight. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off September's high, September's low crossing at 74.84 is the next downside target. Closes above the 50-day moving average crossing at 75.72 would temper the near-term bearish outlook.First resistance is September's high crossing at 76.23. Second resistance is the July 31^st high crossing at 76.40. First support is last-Wednesday's low crossing at 75.22. Second support is September's low crossing at 74.84.

The December Japanese Yen was lower overnight. The low-range overnight trade sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Mult8ple closes above the 20-day moving average crossing at 0.0938 are needed to confirm that a short-term low has been posted. If December resumes the decline off August's high, August's low crossing at 0.0924 is the next downside target. First resistance is the 20-day moving average crossing at 0.0938. Second resistance is the 50-day moving average crossing at 0.0941. First support is last-Thursday's low crossing at 0.0927. Second support is August's low crossing at 0.0924.

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

PRECIOUS METALS: December gold was lower overnight as it consolidates some of this week's rally. Stochastics and the RSI remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off last-Wednesday's low, September's high crossing at 1566.20 is the next upside target. Closes below the 50-day moving average crossing at 1498.90 would open the door for additional weakness near-term. First resistance is September's high crossing at 1566.20. 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 50-day moving average crossing at 1498.90. Second support is August's low crossing at 1412.10.

December silver was steady to slightly lower overnight as it consolidates some of the rally off September's low. The mid-range overnight trade sets the stage for a steady to lower opening when the day session begins trading later this morning. Stochastics and the RSI remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off the September 13^th low, September's high crossing at 19.750 is the next upside target. If December resumes the decline off September's high, the 50-day moving average crossing at 17.492 is the next downside target.First resistance is September'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 50-day moving average crossing at 17.492. Second support is the August 13^th reaction low crossing at 16.650. 

December copper was lower overnight as it extends September's trading range. The low-range overnight trade sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are neutral to bearish signaling that a short-term top might be in or is near. If December extends the decline off September's high, September's low crossing at 248.20 is the next downside target. If December resumes the rally off September's low, July's high crossing at 280.50 is the next upside target. First resistance is September's high crossing at 270.65. Second resistance is July's high crossing at 280.50. First support is Monday's low crossing at 257.25. Second support is September's low crossing at 248.20.     

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

December corn was steady to fractionally lower in quiet trading overnight as it extends the August-September trading range. The low-range trade overnight sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that a low might be in or is near. Closes above the reaction high crossing at 3.77 are needed to signaling that the short-term trend is turning neutral to bullish. If December resumes the decline off July's high, psychological support crossing at 3.50 is the next downside target. First resistance is the reaction high crossing at 3.77. Second resistance is the 50-day moving average crossing at 3.88 1/4. First support is the 20-day moving average crossing at 3.67. Second support is September's low crossing at 3.52 1/4.      

December wheat was lower overnight.The low-range overnight trade sets the stage for a steady to lower opening when the day 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 4.76 1/2 would signal that a short-term top has been posted. Closes above last-Wednesday's high crossing at 4.92 1/2 would open the door for a larger-degree rally off September's low. First resistance is last-Wednesday's high crossing at 4.92 1/2. Second resistance is August's high crossing at 5.06 1/4. First support is the 20-day moving average crossing at 4.76 1/2. Second support is September's low crossing at 4.50 1/2.   

December Kansas City Wheat closed down 1 1/2-cents at 4.05.

December Kansas City wheat closed lower on Tuesday. The low-range close sets the stage for a steady to lower opening when Wednesday 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 June's high, weekly support crossing at 3.74 1/4 is the next downside target. If December extends the rally off September's low, the 50-day moving average crossing at 4.19 is the next upside target. First resistance is Monday's high crossing at 4.14. Second resistance is the 50-day moving average crossing at 4.19. First support is September's low crossing at 3.81. Second support is weekly support crossing at 3.74 1/4.  

December Minneapolis wheat was higher overnight as it extends the rally off September's low. The high-range overnight trade sets the stage for a steady to higher opening when the day 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 September's low, the 62% retracement level of the June-September decline crossing at 5.52 is the next upside target. Closes below the 20-day moving average crossing at 5.10 would confirm that a short-term top has been posted. First resistance is the 62% retracement level of the June-September decline crossing at 5.52. Second resistance is the 75% retracement level of the June-September decline crossing at 5.66 1/4. First support is the 10-day moving average crossing at 5.21 1/2. Second support is the 20-day moving average crossing at 5.10. 

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

November soybeans were lower in overnight trading.The low-range overnight trade sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are turning neutral signaling that sideways trading is possible near-term. If November resumes the rally off September's low, July's high crossing at 9.36 1/2 is the next upside target. Closes below the 20-day moving average crossing at 8.79 1/4 would confirm that a short-term top has been posted. First resistance is last-Monday's high crossing at 9.04 3/4. Second resistance is July's high crossing at 9.36 1/2. First support is the 50-day moving average crossing at 8.81 1/4. Second support is the 20-day moving average crossing at 8.79 1/4.  

December soybean meal was lower overnight as it extends the August-September trading range. The low-range overnight trade sets the stage for a steady to lower opening when the day 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 September 13^th reaction high crossing at 304.70 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 291.60 is the next downside target. First resistance is the September 13^th reaction high crossing at 304.70. Second resistance is the reaction high crossing at 306.30. First support is September's low crossing at 292.00. Second support is May's low crossing at 291.60.   

December soybean oil was lower overnight as it extends the decline off last-Tuesday's high. The low-range overnight trade sets the stage for a steady to lower opening when the day 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 29.15 would confirm that a short-term top has been posted. If December resumes the rally off last-Monday's low, the 75% retracement level of the February-May-decline crossing at 30.79 is the next upside target. First resistance is last-Tuesday's high crossing at 30.41. Second resistance level is the 75% retracement level of the February-May decline crossing at 30.79. First support is the 20-day moving average crossing at 29.15. Second support is the 50-day moving average crossing at 28.95. 

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

October hogs closed up $1.05 at $62.00. 

October hogs closed higher on Tuesday as it extends the August-September trading range. The high-range close sets the stage for a steady to higher opening when Wednesday'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 renews the decline off July's high, last-July's low crossing at 58.20 is the next downside target. If October resumes the rally off August's low, the 50-day moving average crossing at 67.35 is the next upside target. First resistance is the 50-day moving average crossing at 67.35. Second resistance is August's high crossing at 70.83. First support is August's low crossing at 59.30. Second support the July-2018 low crossing at 58.20.  

October cattle closed up $0.28 at 102.13. 

October cattle closed higher on Tuesday. The low-range close sets the stage for a steady to lower opening on Wednesday. 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 102.66 would open the door for additional gains near-term. Closes below the 20-day moving average crossing at 98.76 would temper the near-term friendly outlook. First resistance is the 50-day moving average crossing at 102.66. Second resistance is the August 9^th reaction high crossing at 107.85. First support is the 20-day moving average crossing at 108.48. Second support is September's low crossing at 93.40.  

October Feeder cattle closed up $0.40 at $141.65. 

October Feeder cattle closed higher on Tuesday as it extends the rally off September's low. The high-range close sets the stage for a steady to higher opening when Wednesday's 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  rally off September's low, July's high crossing at 144.43 is the next upside target. Closes below the 20-day moving average crossing at 134.53 would signal that a short-term top has been posted. First resistance is today's high crossing at 142.00. Second resistance is July's high crossing at 144.43. First support is the 10-day moving average crossing at 137.40. Second support is the 20-day moving average crossing at 134.53.      

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

December coffee closed slightly lower on Tuesday. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off September's high, September's low crossing at 94.20 is the next downside target. If December resumes the rally off August's low, the 50% retracement level of the July-August-decline crossing at 10.64 is the next upside target.      

December cocoa closed lower on Tuesday as it consolidates some of the rally off August's low. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are overbought but remain neutral to bullish signaling sideways to higher prices are possible near-term. If December extends the rally off August's low, the 75% retracement level of the July-August decline crossing at 24.96 is the next upside target. Closes below the 20-day moving average crossing at 23.25 would confirm that a short-term top has been posted. 

October sugar closed higher on Tuesday and above the 50-day moving average crossing at 11.47 thereby opening the door for additional gains near-term. The high-range close set the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If October extends the rally off September's low, the reaction high crossing at 11.96 is the next upside target. Closes below the 10-day moving average crossing at 11.03 would temper the near-term friendly outlook. 

December cotton closed lower on Tuesday. The mid-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 59.85 would temper the near-term friendly outlook. If December resumes the rally off August's low, the 38% retracement level of the April-August-decline crossing at 64.62 is the next upside target.