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 STOCK INDEXES:The December NASDAQ 100 was higher in overnight trading following Thursday's key reversal up. The stock market is on pace for another positive day that would make it a third session in a row, the longest string of gains in October as investors are optimistic following President Donald Trump’s offer to meet China’s top trade negotiator later in the day, lifting hopes for progress for some form of resolution in the longstanding tariff conflict.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 bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 7778.86 are needed to confirm that a short-term low has been posted. If December resumes 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 7778.86. 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 was higher in late-overnight trading following Thursday's key reversal up. The high-range overnight trade sets the stage for a steady to higher opening when the day session begins trading later this morning. 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 2962.90 are needed to confirm that a short-term low has been posted. Closes below Thursday's low crossing at 2883.90 would confirm that a short-term top has been posted. First resistance is the 20-day moving average crossing at 2962.90. Second resistance is the October 1^st high crossing at 2992.00. First support is Thursday's low crossing at 2883.90. Second support is the October 3^rd low crossing at 2856.00. 

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

INTEREST RATES: December T-bonds were slightly lower overnight as they extend Thursday's sharp loss. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the October 1^st reaction 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 is the next upside target. First resistance is Monday's high crossing at 165-07. Second resistance is August's high crossing at 166-25. First support is the October 1^st low crossing at 160-19. Second support is the September 13^th low crossing at 157-17.

December T-notes were lower overnight as they extend this week's decline. 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 130.148 would confirm that a short-term top has been posted. If December resumes the rally off September's 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 isSeptember's high crossing at 132.130. First support is the October 1^st low crossing at 129.200. Second support is the September 13^th low crossing at 128.160. 

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

November crude oil was higher overnight after reports of an Iranian tanker explosion in the Red Sea raised the possibility of tensions in an already simmering Middle East.The mid-range overnight trade sets the stage for a steady to higher 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. Closes above the 20-day moving average crossing at 55.62 are needed to confirm that a short-term low has been posted. If November renews 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 55.62. First support is the October 3^rd low crossing at 50.99. Second support is August's low crossing at 50.48.  

November heating oil was higher overnight. The mid-range overnight trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are neutral to bullish signaling that a short-term low might be in or is near. Closes above the 20-day moving average crossing at 194.19 are needed to confirm that a short-term low has been posted. If November resumes 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 194.19. Second resistance is September's high crossing at 209.35. First support is the October 3^rd low crossing at 182.39. Second support is September's low crossing at 178.06.  

November unleaded gas was higher overnight as it extends the rally off October's low. 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. If November extends the rally off October's low, the September 19^th high crossing at 168.24 is the next upside target. Closes below the 20-day moving average crossing at 155.27 would confirm that a short-term top has been posted. First resistance is the September 19^th high crossing at 168.24. Second resistance is September's high crossing at 175.26. First support is October's low crossing at 151.75. Second support is the September 12^th low crossing at 149.84.

November Henry natural gas was steady to slightly higher overnight. 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 oversold and remain neutral to bearish signaling that sideways to lower prices are possible near-term. If November extends the decline off September's high, August's low crossing at 2.135 is the next downside target. Closes above the 20-day moving averagecrossing at 2.425 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 2.282. Second resistance is the 50-day moving average crossing at 2.374. First support is the August 23^rd low crossing at 2.185. Second support is August's low crossing at 2.135.

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

CURRENCIES:The December Dollar was sharply lower overnight. 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 97.96 would open the door for additional weakness near-term. If December resumes the rally off September's low, weekly resistance crossing at 99.90 is the next upside target. First resistance is the October 1^st high crossing at 99.24. Second resistance is weekly resistance crossing at 99.90. First support is the 50-day moving average crossing at 97.96. Second support is September's low crossing at 97.56.  

The December Euro was higher overnight as it extends the rally off October'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 neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off October's low, the 50-day moving average crossing at 111.32 is the next upside target. Closes below Tuesday's low crossing at 109.93 would confirm that a short-term top has been posted. First resistance is the 50-day moving average crossing at 111.32. Second resistance is September's high crossing at 111.84. First support is Tuesday's low crossing at 109.93. Second support is October's low crossing at 109.39.    

The December British Pound was sharply higher overnight after European Council President Donald Tusk tweeted that Ireland's Leo Varadkar conveyed "promising signals" that a deal was possible.The high-range overnight trade sets the stage for a steady to higher opening when the day session beings trading. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off October's low, the 50% retracement level of the February-September-decline crossing at 1.2776 is the next upside target. Closes below the 50-day moving average crossing at 1.2320 are needed to confirm that a short-term low has been posted. First resistance is the 50% retracement level of the February-September-decline crossing at 1.2776. Second resistance is the 62% retracement level of the February-September-decline crossing at 1.2958. First support is Tuesday's low crossing at 1.2224. Second support is September's low crossing at 1.2008.

The December Swiss Franc was lower overnight. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes above the 20-day moving average crossing at 1.0124 are needed to confirm that a short-term low has been posted. If December resumes the decline off August's high, May's low crossing at 1.0000 is the next downside target. First resistance is the 20-day moving average crossing at 1.0124. Second resistance is the 50-day moving average crossing at 1.0224. First support is October's low crossing at 1.0029. Second support is May's low crossing at 1.0000.

The December Canadian Dollar was higher overnight. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 75.47 would confirm that a short-term low has been posted.If December resumes the decline off September's high, September's low crossing at 74.84 is the next downside target.First resistance is the October 2^ndhigh crossing at 75.80. Second resistance is September's high crossing at 76.23. First support is Thursday's low crossing at 74.96. Second support is September's low crossing at 74.84.

The December Japanese Yen was sharply lower overnight as it extends this week's decline. 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 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 0.0924 is the next downside target. Multiple 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 October's high crossing at 0.0945. First support is the overnight low crossing at 0.0926. 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 while extending the August-October trading range. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If December renews the rally off the October 1^st low, the reaction high crossing at 1543.30 is the next upside target. If December resumes the decline off September's high, the 38% retracement level of the May-September rally crossing at 1459.80 is the next downside target. First resistance is the reaction high crossing at 1543.30. Second resistance is September's high crossing at 1566.20. First support is the 38% retracement level of the May-September rally crossing at 1459.80. Second support is the 50% retracement level of the May-September rally crossing at 1426.60.

December silver was steady to slightly lower overnight. 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. If December resumes the decline off September's high, the 62% retracement level of the June-September-rally crossing at 16.547 is the next downside target. Closes above the 20-day moving average crossing at 17.789 are needed to confirm that a short-term low has been posted. First resistance is the September 24^th high crossing at 18.810. Second resistance is September's high crossing at 19.750. First support is the 62% retracement level of the June-September-rally crossing at 16.547. Second support is the 75% retracement level of the June-September-rally crossing at 15.859.

December copper was higher overnight. 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 neutral to bullish signaling that a low might be in or is near. If December extends the rally off October's low, September's high crossing at 270.65 is the next upside target. Closes below Thursday's low crossing at 254.75 would confirm that a short-term top has been posted. First resistance is September's high crossing at 270.65. Second resistance is July's high crossing at 280.50. First support is the October 1^st 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 was higher overnight as it consolidates some of Thursday's loss following a neutral to bearish USDA supply-demand report released on Thursday. The high-range trade overnight sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 3.80 1/4 would temper the near-term friendly outlook. If December extends 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 the 38% retracement level of the June-September-decline crossing at 3.98 1/2. Second resistance is the 50% retracement level of the June-September-decline crossing at 4.12 3/4. First support is the 20-day moving average crossing at 3.80 1/4. Second support is the September 26^th low crossing at 3.68 1/4.      

December wheat was higher overnight as it consolidated some of Thursday's decline. 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 turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 4.89 1/4 would confirm that a short-term top has been posted. If December extends the rally off September's low, August's high crossing at 5.06 1/4 is the next upside target. First resistance is August's high crossing at 5.06 1/4. Second resistance is July's high crossing at 5.43. First support is the 20-day moving average crossing at 4.89 1/4. Second support is the 50-day moving average crossing at 4.82.   

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 was higher overnight. 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 neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 5.33 1/2 would confirm that a short-term top has been posted. If December resumes 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. First resistance is the 75% retracement level of the June-September decline crossing at 5.66 1/4. Second resistance is the 87% retracement level of the June-September decline crossing at 5.79. First support is the 20-day moving average crossing at 5.33 1/2. Second support is the 50-day moving average crossing at 5.21. 

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

November soybeans were higher in overnight trading 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 November extends 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 9.03 3/4 would confirm that a short-term top has been posted. First resistance is the overnight high crossing at 9.34 1/2. Second resistance is July's high crossing at 9.36 1/2. First support is the 10-day moving average crossing at 9.17 1/2. Second support is the 20-day moving average crossing at 9.03 3/4.  

December soybean meal 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 neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off September's low, the 50% retracement level of the June-September decline crossing at 313.80 is the next upside target. Closes below the 20-day moving average crossing at 301.30 would confirm that a short-term top has been posted. First resistance is the 50% retracement level crossing at 313.80. Second resistance is the 62% retracement level of the June-September decline crossing at 319.00. First support is the 20-day moving average crossing at 301.30. Second support is September's low crossing at 292.00.    

December soybean oil was higher overnight. 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 turning 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 30.41 is the next upside target. Closes below the 50-day moving average crossing at 29.18 would confirm that a short-term top has been posted. First resistance is Monday's high crossing at 30.19. Second resistance is September's high crossing at 30.41. First support is the September 27^th low crossing at 28.75. Second support is September's low crossing at 28.20.  

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.