KEY EVENTS TO WATCH FOR:

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 December NASDAQ 100 closed lower on Thursday.The mid-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends this week's decline, the August 26^th reaction low crossing at 7390.00 is the next downside target. If December resumes the rally off the August 26^th low, July's high crossing at 8071.75 is the next upside target. First resistance is September's high crossing at 8002.50. Second resistance is July's high crossing at 8071.75. First support is the August 26^th reaction low crossing at 7390.00. Second support is August's low crossing at 7244.50.  

The December S&P 500 closed slightly lower on Thursday. The mid-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends this week's decline, September's low crossing at 2895.00 is the next downside target. If December resumes the rally off August's low, July's high crossing at 3027.50 is the next upside target. First resistance is September's high crossing at 3025.30. Second resistance is July's high crossing at 3027.50. First support is the 50-day moving average crossing at 2951.33. Second support is September's low crossing at 2895.00.  

The Dow closed modestly lower on Thursdayas investors eyed drama in Washington over a whistle blower complaint alleging President Trump sought foreign election interference, while also focusing on a downbeat report on U.S.-China trade relations.The mid-range close sets the stage for a steady to lower opening when Friday'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 26,854.49 are needed to confirm that a short-term top has been posted. If the Dow resumes the rally off August's low, July's high crossing at 27,398.68. First resistance is September's high crossing at 27,306.73. Second resistance is July's high crossing at 27,398.68. First support is the 20-day moving average crossing at 26,854.49. Second support is the 50-day moving average crossing at 26,587.63.

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December T-bonds closed up 25/32's at 162-01.

December T-bonds closed higher on Thursday. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off the September 13^th reaction low, August's high crossing at 166-25. If December resumes the decline off September's high, the 50% retracement level of the 2018-2019 rally crossing at 155-27 is the next downside target. First resistance is Wednesday's high crossing at 163-10. Second resistance is August's high crossing at 166-25. First support is the September 13^th reaction low crossing at 160-16. Second support is the 50% retracement level of the 2018-2019 rally crossing at 155-27.         

December T-notes closed up 75-pts. At 130.060.

December T-notes closed higher on Thursday. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off the September 13^th reaction low, September's high crossing at 132.130 is the next upside target. If December resumes the decline off September's high, the 50% retracement level of the March-September rally crossing at 127.171. First resistance is Tuesday's high crossing at 130.245. Second resistance is September's high crossing at 132.130. First support is the September 13^th reaction 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 closed lower on Thursday as it extends the decline off September's high. The high-range close sets the stage for a steady to higher opening when Friday's night session begins. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the September 12^th reaction low crossing at 53.93 are needed to confirm that a short-term top has been posted. Closes above the 10-day moving average crossing at 57.87 would confirm that a short-term low 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 the 10-day moving average crossing at 57.87. Second resistance is September's high crossing at 63.89. First support the September 12^th reaction low crossing at 53.93. Second support is September's low crossing at 52.71.   

November heating oil closed slightly higher on Thursday. The high-range close sets the stage for a steady to higher opening when Friday's night trading session begins. 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 192.89 would 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 is the next upside target. First resistance is September's high crossing at 209.35. Second resistance is the May's high crossing at 215.12. First support is the 20-day moving average crossing at 192.89. Second support is the 50-day moving average crossing at 189.41.  

November unleaded gas closed higher on Thursday. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 158.19 are needed to confirm that a short-term top has been posted. If November resumes the rally off September, May's high crossing at 177.80 is the next upside target. First resistance is September's high crossing at 175.26. Second resistance is May's high crossing at 177.80. First support is the 20-day moving average crossing at 158.19. Second support is the 50-day moving average crossing at 156.02. 

November Henry natural gas posted a key reversal down on Thursday as it extended the decline off September's high. 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 neutral to bearish signaling that sideways to lower prices are possible near-term. If November extends the decline off September's high, the 50-day moving average crossing at 2.380 is the next downside target. Closes above the 10-day moving average crossing at 2.592 would confirm that a short-term low has been posted. First resistance is September's high crossing at 2.745. Second resistance is the 75% retracement level of the March-August decline crossing near 2.812. First support is today's low crossing at 2.412. Second support is the 50-day moving average crossing at 2.380.        

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

The December Dollar closed higher on Thursday while extends the rally off September's low. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If December renews the rally off June's low, weekly resistance crossing at 99.90 is the next upside target. Closes below the 50-day moving average crossing at 97.63 would confirm that a short-term top has been posted. First resistance is September's high crossing at 98.90. Second resistance is weekly resistance crossing at 99.90. First support is the 50-day moving average crossing at 97.63. Second support is the August 26^th reaction low crossing at 96.96.

The December Euro closed lower on Thursday as it renewed the decline off June's high. 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 neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off August's high, weekly support crossing at 109.21 is the next downside target. Closes above the 20-day moving average crossing at 110.96 are needed to confirm that a short-term low has been posted. First resistance is September's high crossing at 111.84. Second resistance is the 50-day moving average crossing at 111.89. First support is today's low crossing at 109.84. Second support is monthly support crossing at 109.21.

The December British Pound closed lower on Thursday as it extends this week's decline. 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 neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at 1.2336 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 1.2592. Second resistance is the 50% retracement level of the February-September decline crossing at 1.2776. First support is the 50-day moving average crossing at 1.2336. Second support is September's low crossing at 1.2008.    

The December Swiss Franc closed lower on Thursday.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 turning neutral to bearish signaling that sideways to lower prices are possible near-term. If December resumes the decline off August's high, the 87% retracement level of the May-August-rally crossing at 1.0059 is the next downside target. If December renews the rally off September's low, the 50-day moving average crossing at 1.0257 is the next upside target. First resistance the 50-day moving average crossing at 1.0257. Second resistance is September's high crossing at 1.0298. First support is last-Thursday's low crossing at 1.0090. Second support is the 87% retracement level of the May-August-rally crossing at 1.0059.

The December Canadian Dollar closed slightly higher on Thursday.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 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 75.69 would temper the near-term bearish outlook. First resistance is September's high crossing at 76.23. Second resistance is the July 31^st reaction high crossing at 76.37. 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 closed lower on Thursday. 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 neutral to bullish hinting that a low might be in or is near. Closes above the 50-day moving average crossing at 0.0941 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 0.0918 is the next downside target. First resistance is the 50-day moving average crossing at 0.0941. Second resistance is September's high crossing at 0.0952. First support is last-Thursday's low crossing 0.0927. Second support is August's low crossing at 0.0924.  

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December gold closed slightly higher on Thursday as it consolidated some of Wednesday's sharp decline.The mid-range close sets the stage for a steady opening when Friday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at 1499.90 would open the door for additional weakness near-term. If December 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 September'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 50-day moving average crossing at 1499.90. Second support is August's low crossing at 1406.40.

December silver closed lower on Thursday. The mid-range close set the stage for a steady to lower opening when Friday'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 September's high, the 50-day moving average crossing at 17.515 is the next downside target. If December extends the rally off September's low, September's high crossing at 19.750 is the next upside target. First resistance is Tuesday's high crossing at 18.810. Second resistance is September's high crossing at 19.750. First support is the 50-day moving average crossing at 17.515. Second support is the September 13^th reaction low crossing at 17.470.           

December copper closed lower on Thursday. 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 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 248.20 is the next downside target. If December resumes the rally off September's low, the reaction high crossing at 273.20 is the next upside target. First resistance is September's high crossing at 270.65. Second resistance is the reaction high crossing at 273.20. 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 closed down 2-cents at 3.72 1/4. 

December corn closed fractionally lower on Thursday. The mid-range close sets the stage for a steady to lower opening when Friday's night sessions 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 August 29^th reaction high crossing at 3.77 would mark a close above the previous reaction high thereby signaling that the short-term trend has turned neutral to bullish and at the same time opening the door for a possible test of the 50-day moving average crossing at 3.86 3/4. If December resumes the decline off July's high, psychological support crossing at 3.50 is the next downside target. First resistance is the August 29^th reaction high crossing at 3.77. Second resistance is the 50-day moving average crossing at 3.86 3/4. First support is September's low crossing at 3.52 1/4. Second support is psychological support crossing at 3.50.  

December wheat closed up 8 1/2-cents at 4.85 3/4. 

December wheat closed higher on Thursday. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above last-Wednesday's high crossing at 4.92 1/2 would renew the rally off September's low while opening the door for a possible test of the reaction high crossing at 5.06 1/4 in the near-future. Closes below the 20-day moving average crossing at 4.77 would confirm that a short-term top has been posted. First resistance is last-Wednesday's high crossing at 4.92 1/2. Second resistance is the reaction high crossing at 5.06 1/4. First support is the 20-day moving average crossing at 4.77. Second support is September's low crossing at 4.50 1/2.      

December Kansas City Wheat closed up 4 1/4-cents at 4.08 1/4.

December Kansas City wheat closed higher on Thursday. The high-range close sets the stage for a steady to higher opening when Friday 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 the rally off September's low, the 50-day moving average crossing at 4.16 3/4 is the next upside target. If December renews the decline off June's high, weekly support crossing at 3.74 1/4 is the next downside target. First resistance is Monday's high crossing at 4.14. Second resistance is the 50-day moving average crossing at 4.16 3/4. First support is September's low crossing at 3.81. Second support is weekly support crossing at 3.74 1/4.  

December Minneapolis wheat closed down 5 1/2-cents at 5.48 3/4. 

December Minneapolis wheat closed lower on Thursday as it consolidates some of the rally off September's low. 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. If December extends the rally off September's low, the 75% retracement level of the June-September decline crossing at 5.66 1/4 is the next upside target. Closes below the 20-day moving average crossing at 5.12 1/2 would confirm that a short-term top has been posted. First resistance is today's high crossing at 5.59. Second resistance is the 75% retracement level of the June-Sept. decline crossing at 5.66 1/4. First support is the 10-day moving average crossing at 5.26 1/4. Second support is the 20-day moving average crossing at 5.12 1/2.    

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

November soybeans closed down 1 1/2-cents at 8.87 3/4.

November soybeans closed lower on Thursday. 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 neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 8.80 1/4 are needed to confirm that a short-term top has been posted. If November resumes the rally off September's low, the reaction high crossing at 9.24 is the next upside target. First resistance is last-Monday's high crossing at 9.04 3/4. Second resistance is the reaction high crossing at 9.24. First support is the 20-day moving average crossing at 8.80 1/4. Second support is the 75% retracement level of the May-June-rally crossing at 8.48 1/2.    

December soybean meal closed down $2.20 at 295.40. 

December soybean meal closed lower on Thursday. 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 turning neutral to bearish signaling that sideways to lower prices are possible near-term. If December renews 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 300.80 are needed to confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 300.80. 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 closed down 2-pts. at 29.12. 

December soybean oil closed lower on Thursday as it extends the decline off September's high. The mid-range close sets the stage for a steady to lower opening when Friday'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 28.97 would confirm that a short-term top has been posted. If December renews the rally off September'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 is the 75% retracement level of the February-May-decline crossing at 30.79. First support is the 50-day moving average crossing at 28.97. Second support is September's low crossing at 28.20.       

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

October hogs closed down $0.35 at $64.23. 

October hogs closed lower on Thursday as it extends the August-September trading range. 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 neutral to bullish signaling that sideways to higher prices are possible near-term. If October resumes the rally off August's low, the 50-day moving average crossing at 66.86 is the next upside target. If October renews the decline off July's high, last-July's low crossing at 58.20 is the next downside target. First resistance is the 50-day moving average crossing at 66.86. 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 down $0.05 at 102.95. 

October cattle closed slightly lower on Thursday as it consolidates above the 50-day moving average crossing at 102.42 opens the door for additional gains near-term. The mid-range close sets the stage for a steady to higher opening on Friday. 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, the August 9^th reaction high crossing at 107.85 is the next upside target. Closes below the 20-day moving average crossing at 99.11 would temper the near-term friendly outlook. First resistance is today's high crossing at 103.35. Second resistance is the August 9^th reaction high crossing at 107.85. First support is the 20-day moving average crossing at 99.11. Second support is September's low crossing at 93.40.  

October Feeder cattle closed up $0.65 at $143.10. 

October Feeder cattle closed higher on Thursday as it extends the rally off September's low. The high-range close sets the stage for a steady to higher opening when Friday'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, the May 17^th reaction high crossing at 148.23 is the next upside target. Closes below the 20-day moving average crossing at 135.60 would signal that a short-term top has been posted. First resistance is today's high crossing at 143.40. Second resistance is the May 17^th reaction high crossing at 148.23. First support is the 10-day moving average crossing at 139.10. Second support is the 20-day moving average crossing at 135.60.      

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

December coffee closed lower on Thursday leaving yesterday's key reversal up unconfirmed. The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. 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. If December extends the decline off September's high, September's low crossing at 94.20 is the next downside target.      

December cocoa closed higher on Thursday as it extended the rally off August's low. The high-range close sets the stage for a steady to higher opening on Friday. 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 87% retracement level of the July-August decline crossing at 25.49 is the next upside target. Closes below the 20-day moving average crossing at 23.49 would confirm that a short-term top has been posted. 

October sugar closed lower on Thursday as it consolidated some of the rally off September's low. The low-range close set the stage for a steady to lower opening on Friday. 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, the reaction high crossing at 11.96 is the next upside target. Closes below the 20-day moving average crossing at 11.10 would temper the near-term friendly outlook. 

December cotton closed slightly higher on Thursday while extending the August-September trading range. The low-range close sets the stage for a steady to lower opening on Friday. 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 60.05 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.