KEY EVENTS TO WATCH FOR:

Friday, October 11, 2019 

8:30 AM ET. September Import & Export Price Indexes

                       Import Prices (previous -0.5%)

                       Non-Petroleum Prices (previous +0%)

                       Petroleum Prices (previous -4.8%)

10:00 AM ET. October University of Michigan Survey of Consumers – preliminary

                       Mid-Mo Sentiment (previous 92.0)

                       Mid-Mo Expectations (previous 82.4)

                       Mid-Mo Current Idx (previous 106.9

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

The December NASDAQ 100 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 the 20-day moving average crossing at 7779.65 are needed to confirm that a low has been posted. If December renews the decline off September's high, the August 26^th reaction low crossing at 7390.00 is the next downside target. First resistance is the 20-day moving average crossing at 7779.65. Second resistance is September's high crossing at 8002.50. 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 posted a key reversal up 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 the 20-day moving average crossing at 2964.20 would confirm that a short-term low has been posted. If December renews the decline off September's high, August's low crossing at 2841.00 is the next downside target. First resistance is 20-day moving average crossing at 2964.20. Second resistance is the October 1^st high crossing at 2992.00. First support is last-Thursday's low crossing at 2856.00. Second support is August's low crossing at 2841.00.  

The Dow closed higher on Monday after President Donald Trump said he would meet China’s chief trade negotiator at the White House on Friday, again raising hopes for progress at two days of talks in Washington D.C. in an effort to resolve the two year old trade war. The mid-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 the 20-day moving average crossing at 26,740.77 are needed to confirm that a short-term low has been posted. If the Dow renewed the decline off September's high, August's low crossing at 25,339.60 is the next downside target. First resistance is the 20-day moving average crossing at 26,740.77. Second resistance is last-Tuesday's high crossing at 27,046.21. First support is last-Thursday's low crossing at 25,743.46. Second support is August's low crossing at 25,339.69.

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

December T-bonds closed down 1-19/32's at 162-07.

December T-bonds 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 have turned neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below last-Tuesday's low crossing at 160-19 would confirm that a short-term top has been posted. If December extends the rally off September's low, August's high crossing at 166-25. First resistance is Tuesday's high crossing at 165-03. Second resistance is August's high crossing at 166-25. First support is last-Tuesday's low crossing at 160-19. Second support is the September 13^th reaction low crossing at 160-16. 

December T-notes closed down 215-pts. At 130.195.

December T-notes closed sharply 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 have turned neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below last-Tuesday's low crossing at 129.200 are needed to confirm that a short-term top has been posted. If December extends the rally off the September 13^th reaction low, September's high crossing at 132.130 is the next upside target. First resistance is last-Friday's high crossing at 132.010. Second resistance is September's high crossing at 132.130. First support is last-Tuesday's low crossing at 129.200. Second support is the September 13^th reaction low crossing at 128.160.      

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

November crude oil closed higher on Thursday as it extends the trading range of the past six-days. The high-range close sets the stage for a steady to higher opening when Friday's night session begins. 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 55.63 are needed to confirm that a short-term low has been posted. If November resumes the decline off September''s high, August's low crossing at 50.48 is the next downside target. First resistance is the 50-day moving average crossing at 55.29. Second resistance is the 20-day moving average crossing at 55.63. First support is last-Thursday's low crossing at 50.99. Second support is August's low crossing at 50.48.   

November heating oil closed higher on Thursday as it consolidated some of the decline off September's high. 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 bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 193.80 would confirm that a short-term low has been posted. If November extends the decline off September's high, September's low crossing at 178.06 is the next downside target. First resistance is the 20-day moving average crossing at 193.80. Second resistance is September's high crossing at 209.35. First support is last-Thursday's low crossing at 182.39. Second support is September's low crossing at 178.06.  

November unleaded gas closed higher on Thursday above the 20-day moving average crossing at 160.43 confirming that a short-term low has been posted. 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 November extends the rally off October's low, the reaction high crossing at 168.24 is the next upside target. If November renews the decline off September's high, September 12^th low crossing at 149.84 is the next downside target. First resistance is the reaction high crossing at 163.35. Second resistance is September's high crossing at 175.26. First support is the September 12^th reaction low crossing at 149.84. Second support is September's low crossing at 143.10.

November Henry natural gas 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If November extends the aforementioned decline, the August 23^rd low crossing at 2.185 is the next downside target. Closes above the 20-day moving average crossing at 2.447 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 2.300. Second resistance is the 20-day moving average crossing at 2.447. First support is last-Thursday's low crossing at 2.207. Second support is the August 23^rd low crossing at 2.185.         

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

The December Dollar closed lower on Thursday and below the 20-day moving average crossing at 98.44 confirming that a short-term top has been posted. 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 extends today's decline, the 50-day moving average crossing at 97.95 is the next downside target. If December renews the rally off June's low, weekly resistance crossing at 99.90 is the next upside target. First resistance is October's high crossing at 99.30. Second resistance is weekly resistance crossing at 99.90. First support is today's low crossing at 98.32. Second support is the 50-day moving average crossing at 97.95.

The December Euro closed higher on Thursday and above the 20-day moving average crossing at 110.47 confirming that a short-term low has been posted. The mid-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 today's rally, the 50-day moving average crossing at 111.34 is the next upside target. If December resumes the decline off August's high, weekly support crossing at 109.21 is the next downside target. First resistance is the 50-day moving average crossing at 111.34. Second resistance is September's high crossing at 111.84. First support is last-Tuesday's low crossing at 109.38. Second support is monthly support crossing at 109.21.

The December British Pound closed sharply higher on Thursday and above the 20-day moving average crossing at 1.2411 confirming that a short-term low has been posted. 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. If December extends today's rally, the 38% retracement level of the February-September decline crossing at 1.2592 is the next upside target. If December resumes the decline off September's high, September's low crossing at 1.2008 is the next downside 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 Tuesday's low crossing at 1.2241. 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 extends the decline off August's high, May's low crossing at 1.0000 is the next downside target. Closes above the 20-day moving average crossing at 1.0128 would confirm that a low has been posted. First resistance the 20-day moving average crossing at 1.0128. Second resistance is the 50-day moving average crossing at 1.0227. First support is last-Thursday's low crossing at 1.0029. Second support is May's low crossing at 1.0000.

The December Canadian Dollar posted a key reversal up on Thursday as it consolidates some of this month's decline. 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 oversold, diverging and are turning neutral to bullish signaling that a low might be in or is near. Closes above the 50-day moving average crossing at 75.48 are needed to temper the near-term bearish outlook. If December extends the decline off September's high, September's low crossing at 74.84 is the next downside target. First resistance is last-Wednesday's high crossing at 75.80 is the next upside target. Second resistance is September's high crossing at 76.23. First support is today's low crossing at 74.96.Second support is September's low crossing at 74.84. 

The December Japanese Yen closed sharply 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 have turned neutral to bearish signaling that sideways to lower prices are possible near-term. If December resumes the decline off August's high, August's low crossing at 0.0918 is the next downside target. Closes above the 50-day moving average crossing at 0.0941 are needed to confirm that a short-term low has been posted. 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-Tuesday's low crossing 0.0926. Second support is August's low crossing at 0.0924.  

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

December gold closed lower on Thursday as it extends the trading range of the past five-days.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 signaling that sideways trading is possible near-term. If December extends the rally off October's low, last-Tuesday's high crossing at 1543.30 is the next upside target. If December renews the decline off September's high, the 38% retracement level of the May-September-rally at 1459.80 is the next downside target. First resistance last-Tuesday's high crossing at 1543.30. Second resistance is September's high crossing at 1559.80. First support is the 38% retracement level of the May-September-rally at 1459.80. Second support is the 50% retracement level of the May-September-rally at 1426.60.

December silver closed lower on Thursday. The low-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 bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 17.788 would temper the near-term bearish outlook. If December renews the decline off the September 24^th high, the 62% retracement level of the May-September-rally crossing at 16.547 is the next downside target. First resistance is the 20-day moving average crossing at 17.788. Second resistance is the September 24^th high crossing at 18.810. First support is last-Tuesday's low crossing at 16.940. Second support is the 62% retracement level of the May-September-rally crossing at 16.547.

December copper closed higher on Thursday and above the 20-day moving average crossing at 259.65 confirming that a short-term low has been posted. 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 October's low, September's high crossing at 270.65 is the next upside target. If December renews the decline off September's high, September's low crossing at 248.20 is the next downside target. First resistance is September's high crossing at 270.65. Second resistance is the reaction high crossing at 273.20. First support is last-Tuesday's low crossing at 251.50. Second support is September's low crossing at 248.20.   

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

December Corn closed down 14 1/4-cents at 3.80. 

December corn closed lower on Thursday as USDA’s October yield and production estimates came in above pre-report expectations. The USDA lowered projected harvested corn acres to 81.8 million acres but was less than pre-report estimates of 81.5 million acres. The USDA projected 168.4 bushels per acre, which was above the average trade guess of 166.7 million bushels. This yield estimated this year's corn production at 13.779 billion bushels, which was above the average trade estimate of 13.588 billion bushels. The USDA cut its corn export forecast by 150 million bushels. Ethanol demand was also cut by 50 million bushels based on September data from the Energy Information Administration. The low-range close sets the stage for a steady to lower opening when Friday's night sessions begins trading. Closes below the 20-day moving average crossing at 3.79 1/2 would confirm that a short-term top has been posted. If December renews the rally off September's low, the 38% retracement level of the June-September-decline crossing at 3.98 1/2 is the next upside target. First resistance is Wednesday's high crossing at 3.97 1/4. Second resistance is the 38% retracement level of the June-September-decline crossing at 3.98 1/2. First support is the 20-day moving average crossing at 3.79 1/2. Second support is September's low crossing at 3.52 1/4.   

December wheat closed down 9-cents at 4.91 1/4. 

December wheat closed lower on Thursday followed today’s WASDE report, which showed higher domestic and world stocks. 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. Closes below the 20-day moving average crossing at 4.88 1/2 are needed to confirm that a short-term top has been posted. If December extends the rally off September's low, the reaction high crossing at 5.06 1/4 is the next upside target. First resistance is the reaction high crossing at 5.06 1/4. Second resistance is the 50% retracement level of the June-September-decline crossing at 5.08. First support is the 20-day moving average crossing at 4.88 1/2. Second support is the 50-day moving average crossing at 4.81 3/4.      

December Kansas City Wheat closed down 10-cents at 4.03 1/4.

December Kansas City wheat closed lower on Thursday as it extends the August-October trading range. The low-range close sets the stage for a steady to lower opening when Friday night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes below Tuesday's low crossing at 3.98 3/4 would confirm that a short-term top has been posted. Closes above last-Monday's high  crossing at 4.20 would confirm that a short-term low has been posted while opening the door for additional gains near-term. First resistance is last-Monday's high crossing at 4.20. Second resistance is the 38% retracement level of the June-September-decline crossing at 4.36 1/2. First support is Tuesday's low crossing at 3.98 3/4. Second support is September's low crossing at 3.81. 

December Minneapolis wheat closed down 6-1/2 cents at 5.35 1/4. 

December Minneapolis wheat 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. Closes below the 20-day moving average crossing at 5.32 are needed to confirm that a short-term top has been posted. Closes above Wednesday's high crossing at 5.48 would temper the near-term bearish outlook. First resistance is September's high crossing at 5.59. Second resistance is the 75% retracement level of the June-September decline crossing at 5.66 1/4. First support is the 20-day moving average crossing at 5.32. Second support is the 50-day moving average crossing at 5.21.     

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

November soybeans closed down 1 1/4-cents at 9.22 1/2.

November soybeans closed lower on Thursday due to spillover weakness from corn and wheat. Losses were limited as USDA showed lower yields, production and ending stocks. The market is also waiting for news coming out of this week’s high-level trade meetings between the U.S. and China. The USDA lowered harvested acres down to 75.6 million harvested acres with a yield estimate of 46.9 bpa. Both numbers were slightly below average trade estimates. Production estimates also fell to 3.550 billion bushels, versus the average trade guess of 3.562 billion bushels.The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If November extends the rally off September's low, June's high crossing at 9.48 is the next upside target. Closes below the 20-day moving average crossing at 9.02 1/4 are needed to confirm that a short-term top has been posted. First resistance is today's high crossing at 9.34. Second resistance is June's high crossing at 9.48. First support is the 10-day moving average crossing at 9.12 1/2. Second support is the 20-day moving average crossing at 9.02 1/4.    

December soybean meal closed down $2.10 at 307.60. 

December soybean meal posted an inside day with a lower close 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 diverging but remain neutral to bullish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 300.80 would temper the near-term friendly outlook. If December extends the rally off September's low, the 50% retracement level of the June-September decline crossing at 314.00 is the next upside target. First resistance is Wednesday's high crossing at 311.70. Second resistance is the 50% retracement level of the June-September decline crossing at 314.00. First support is the 20-day moving average crossing at 300.80. Second support is September's low crossing at 292.00.    

December soybean oil closed up 2-pts. at 29.73. 

December soybean oil closed slightly higher on Thursday. The mid-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 10-day moving average crossing at 29.49 would temper the near-term friendly outlook. If December renews the rally off the September 27^th low, September's high crossing at 30.41 is the next upside target. First resistance is Monday's high crossing at 30.19. Second resistance is September's high crossing at 30.41. First support is the 10-day moving average crossing at 29.49. Second support is the September 27^th low crossing at 29.55.      

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

October hogs closed down $0.40 at $62.40. 

October hogs closed slightly 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. Closes above the 50-day moving average crossing at 63.87 would temper the near-term bearish outlook. 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 63.87. 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 $0.25 at 108.73. 

October cattle closed higher on Thursday as it extended the rally above this year's downtrend line. The high-range close sets the stage for a steady to higher opening on Monday. 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 110.60 is the next upside target. Closes below the 20-day moving average crossing at 103.64 would temper the near-term friendly outlook. First resistance is today's high crossing at 108.93. Second resistance is July's high crossing at 110.60. First support is the 10-day moving average crossing at 106.80. Second support is the 20-day moving average crossing at 103.64.  

October Feeder cattle closed down $0.20 at $144.30. 

October Feeder cattle closed lower on Thursday. The mid-range close sets the stage for a steady to lower opening when Friday's 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 September's low, the 62% retracement level of the April-August-decline crossing at 149.37 is the next upside target. Closes below the 20-day moving average crossing at 140.88 would signal that a short-term top has been posted. First resistance is Wednesday's high crossing at 145.43. Second resistance is the 62% retracement level of the April-August-decline crossing at 149.37. First support is the 20-day moving average crossing at 140.88. Second support is the 50-day moving average crossing at 136.82.      

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

December coffee closed sharply lower on Thursday. The low-range close sets the stage for a steady to lower opening on Friday. 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 September's high, May's low crossing at 93.70 is the next downside target. Closes above the 20-day moving average crossing at 9.95 is the next upside target. 

December cocoa closed higher on Thursday. The high-range close sets the stage for a steady to higher opening on Friday. 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 August's low, the 87% retracement level of the July-August decline crossing at 25.49 is the next upside target. Closes below the 50-day moving average crossing at 23.32 would confirm that a short-term top has been posted.    

March sugar closed slightly lower on Thursday and below the 20-day moving average crossing at 12.42 confirming that a short-term top has been posted. The mid-range close set 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. If March renews the rally off September's low, the July 30^th reaction high crossing at 13.25 is the next upside target.  

December cotton closed lower 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. 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. Closes below last-Friday's low crossing at 59.58 would temper the near-term friendly outlook.