KEY EVENTS TO WATCH FOR:

Tuesday, October 15, 2019   

7:45 AM ET. The Retail Economist/Goldman Sachs Weekly Chain Store Sales Index

                       Chain Store Sales, W/W% (previous -1.1%)

                       Chain Store Sales, M/M% (previous +1.5%)

8:30 AM ET. October Empire State Manufacturing Survey

                       Mfg Idx (previous 2.0)

                       Employment Idx (previous 9.7)

                       New Orders Idx (previous 3.5)

                       Prices Received (previous 9.2)

8:45 AM ET. G24 Committee of the Whole meeting

8:55 AM ET. Johnson Redbook Retail Sales Index

                       Ret Sales Mo-to-Date, M/M% (previous -1.1%)

                       Ret Sales Mo-to-Date, Y/Y% (previous +5.7%)

                       Latest Wk, Y/Y% (previous +5.5%)

  N/A               U.S. increases tariffs on Chinese products

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

The STOCK INDEXES:The December NASDAQ 100 was lower in overnight trading. The upcomingearnings season typically starts with just one or two bank reports however, expectations for this season are subdued. Continued trade tensions between the U.S. and China and a slowing global economy are already making themselves felt in economic data and company releases and economists are increasingly warning of a coming recession. Concern over the strength of the partial agreement between the U.S. and China last week has increased following a report that Beijing will insist on more talks with the U.S. before signing any such deal.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 December extends the rally off October's low, September's high crossing at 8002.50 is the next upside target. Closes below the 10-day moving average crossing at 7722.73 would temper the near-term friendly outlook. First resistance is September's high crossing at 8002.50. Second resistance is July's high crossing at 8071.75. First support is last-Thursday's low crossing at 7583.25. Second support is October's low crossing at 7474.25.

The December S&P 500 was lower in late-overnight trading following Friday's gap above the 20-day moving average crossing at 2960.75. 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 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 3025.30 is the next upside target. Closes below last- Thursday's low crossing at 2883.90 would confirm that a short-term top has been posted. First resistance is last-Friday's high crossing at 2992.50. Second resistance is September's high crossing at 3025.30. First support is last-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 higher overnight as they consolidate some of last-week's decline. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off October's high, September's low crossing at 157-17 is the next downside target. Closes above the 10-day moving average crossing at 163-07 would confirm that a short-term low has been posted. First resistance is last-Monday's high crossing at 165-07. Second resistance is August's high crossing at 166-25. First support is last-Friday's low crossing at 160-02. Second support is the September 13^th low crossing at 157-17.

December T-notes were higher due to short covering overnight as they consolidate some of last-week's decline. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off October's high, September's low crossing at 128.160 is the next downside target. Closes above the 10-day moving average crossing at 130.029 are needed to confirm that a short-term low has been posted. First resistance is October's high crossing at 132.010. Second resistance is September'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 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. Closes above the 20-day moving average crossing at 55.25 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 55.27. Second resistance is the 20-day moving average crossing at 55.25. 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 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 a short-term low might be in or is near. If November extends the rally off October's low, the September 19^th high crossing at 202.23 is the next upside target. Closes below the 50-day moving average crossing at 189.08 are needed to confirm that a short-term low has been posted. First resistance is last-Friday's high crossing at 197.00. Second resistance is October's high crossing at 202.23. 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 lower overnight as it consolidates some of 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 50-day moving average crossing at 155.39 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 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 2.403 would confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 2.376. Second resistance is the 20-day moving average crossing at 2.403. 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 higher overnight as it consolidates some of last-week's decline. 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 97.99 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 97.99. Second support is September's low crossing at 97.56.  

The December Euro was lower overnight as it consolidates some of the rally off October's low. The mid-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 December extends the rally off October's low, the 50-day moving average crossing at 111.28 is the next upside target. Closes below last-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 111.28. Second resistance is September's high crossing at 111.84. First support is last-Tuesday's low crossing at 109.93. Second support is October's low crossing at 109.39.    

The December British Pound was lower overnight as it consolidates some of last-week's rally.The low-range overnight trade sets the stage for a steady to lower opening when the day session beings 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% 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 1.2327 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 last-Tuesday's low crossing at 1.2224. Second support is September's low crossing at 1.2008.

The December Swiss Franc was higher overnight. Stochastics and the RSI are turning neutral to bullish 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 1.0121. Second resistance is the 50-day moving average crossing at 1.0220. 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 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 October's low, September's high crossing at 76.23 is the next upside target. Closes below the 10-day moving average crossing at 75.31 would confirm that a short-term top has been posted.First resistance is last-Friday's high crossing at 75.96. Second resistance is September's high crossing at 76.23. First support is last-Thursday's low crossing at 74.96. Second support is September's low crossing at 74.84.

The December Japanese Yen was higher overnight as it consolidates some of last-week'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 becoming oversold but remain 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 0.0924 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 last-Friday's low crossing at 0.0924. Second support is May's low crossing at 0.0919.

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

PRECIOUS METALS: December gold was higher 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 higher overnight as it extends the trading range of the past two-weeks. 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 signaling that sideways 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 last-Wednesday's high crossing at 18.000 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 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 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 last-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 lower overnight over concerns as to the strength of an agreement discussed  between the U.S. and China last week after a report that Beijing will insist on more talks with the U.S. before signing any such deal. 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 neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 3.81 3/4 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 4.12 3/4 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 3.81 3/4. Second support is the September 26^th low crossing at 3.68 1/4.      

December wheat was steady to fractionally lower overnight as it consolidated some of last-Friday's rally. 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 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 5.21 3/4 is the next upside target. Closes below the 20-day moving average crossing at 4.91 would confirm that a short-term top has been posted. First resistance is the overnight high crossing at 5.14 3/4. Second resistance is the 62% retracement level of the June-September-decline crossing at 5.21 3/4. First support is the 20-day moving average crossing at 4.91. Second support is the 50-day moving average crossing at 4.82 1/2.   

December Kansas City Wheat closed up 16 1/4-cents at 4.19 1/2.

December Kansas City wheat closed higher on Friday as it extends the August-October trading range. The high-range close sets the stage for a steady to higher opening when Tuesday night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above last-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. Closes below Tuesday's low crossing at 3.98 3/4 would confirm that a short-term top has been posted. 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 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. 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. Closes below the 20-day moving average crossing at 5.36 would confirm that a short-term top has been posted. 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 5.36. Second support is the 50-day moving average crossing at 5.21 1/2. 

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 low-range overnight trade 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 sideways to higher prices are possible near-term. If November extends the rally off September's low, July's high crossing at 9.48 is the next upside target. Closes below the 20-day moving average crossing at 9.05 3/4 would confirm that a short-term top has been posted. First resistance is the overnight high crossing at 9.45 1/2. Second resistance is July's high crossing at 9.48. First support is the 10-day moving average crossing at 9.21. Second support is the 20-day moving average crossing at 9.05 3/4.  

December soybean meal was steady to slightly higher overnight as it extends the rally off September'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 December extends the rally off September's low, the 62% retracement level of the June-September decline crossing at 319.20 is the next upside target. Closes below the 20-day moving average crossing at 301.90 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 319.20. First support is the 20-day moving average crossing at 301.90. Second support is September's low crossing at 292.00.    

December soybean oil 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. 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 29.21 would confirm that a short-term top has been posted. First resistance is the overnight high crossing at 30.20. 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 up $0.53 at $62.93. 

October hogs closed higher on Friday as it extends the August-September trading range. The high-range close sets the stage for a steady to higher opening when Tuesday'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 63.78 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 63.78. 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 $0.73 at 109.45. 

October cattle closed higher on Friday as it extended the rally off September's low. The high-range close sets the stage for a steady to higher opening on Tuesday. 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 104.21 would temper the near-term friendly outlook. First resistance is today's high crossing at 109.60. Second resistance is July's high crossing at 110.60. First support is the 10-day moving average crossing at 107.25. Second support is the 20-day moving average crossing at 104.21.  

October Feeder cattle closed down $0.20 at $144.10. 

October Feeder cattle closed lower on Friday. The mid-range close sets the stage for a steady to lower opening when Tuesday'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 141.36 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 141.36. Second support is the 50-day moving average crossing at 136.87.      

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

December coffee closed lower on Friday as it extends the decline off September's high. The mid-range close sets the stage for a steady to lower opening on Tuesday. 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, weekly support crossing at 87.60 is the next downside target. Closes above the 20-day moving average crossing at 9.90 is the next upside target. 

December cocoa closed higher on Friday as it extends the rally off August's low. The mid-range close sets the stage for a steady to higher opening on Tuesday. 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, July's high crossing at 26.06 is the next upside target. Closes below Tuesday's low crossing at 23.91 would confirm that a short-term top has been posted.    

March sugar closed slightly higher on Friday but remains below the 20-day moving average crossing at 12.46 confirming that a short-term top has been posted. The high-range close set the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off October's high, the reaction low crossing at 11.92 is the next downside target. Closes above the 10-day moving average crossing at 12.61 would confirm that a low has been posted.  

December cotton closed sharply higher on Friday marking an upside breakout of the August-September trading range. The high-range close sets the stage for a steady to higher opening on Tuesday. 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 38% retracement level of the April-August-decline crossing at 64.62 is the next upside target. Closes below the 50-day moving average crossing at 59.99 would temper the near-term friendly outlook.