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 December NASDAQ 100 posted an inside day with higher close on Monday as it extended last-Friday's breakout above the 20-day moving average crossing at 7778.94. 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 becoming overbought but remain 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 last-Thursday's low crossing at 7583.25 would confirm that a short-term top has been posted. First resistance is last-Friday's high crossing at 7911.75. Second resistance is September's high crossing at 8002.50. First support October's low crossing at 7474.25. Second support is the August 26^th reaction low crossing at 7390.00.   

The December S&P 500 closed slightly lower on Monday. The mid-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. If December extends the rally off October's low, Second resistance is September's high crossing at 3025.30. 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 October's low crossing at 2856.00.  

The Dow closed lower on Monday as investors concluded the trade deal with China announced Friday will not lead to significantly lower trade barriers or foster global economic growth in the near term. 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 neutral to bullish signaling that sideways to higher prices are possible near-term. If the Dow extends the rally off October's low, September's high crossing at 27,306.73 is the next upside target. Closes below last-Tuesday's low crossing at 26,139.80 would confirm that a short-term top has been posted. First resistance is last-Friday's high crossing at 26,996.41. Second resistance is September's high crossing at 27,306.73. First support is last-Tuesday's low crossing at 26,139.80. Second support is October's low crossing at 25,743.46.

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

December T-bonds closed up 22/32's at 161-04.

December T-bonds posted an inside day with a higher close on Monday as it consolidated some of last-week's decline. The mid-range close sets the stage for a steady opening when Tuesday'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 October's high, the September 13^th reaction low crossing at 160-16 is the next downside target. Closes above the 10-day moving average crossing at 163-05 would temper the near-term bearish outlook. First resistance is October's high crossing at 165-03. 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 reaction low crossing at 160-16. 

December T-notes closed up 110-pts. At 130.070.

December T-notes posted an inside day with a higher close on Monday. The mid-range close sets the stage for a steady opening when Tuesday'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 October 1^st low crossing at 129.200 are needed to confirm that a short-term top has been posted. If December renews the rally off the September 13^th reaction low, September's high crossing at 132.130 is the next upside target. 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 reaction low crossing at 128.160.      

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

November crude oil closed lower on Monday.The low-range close sets the stage for a steady to lower opening when Tuesday's night 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 55.24 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 55.26. Second resistance is the 20-day moving average crossing at 55.24. First support is October's low crossing at 50.99. Second support is August's low crossing at 50.48.   

November heating oil closed lower on Monday as it consolidates some of the rally off October's low. The low-range close sets the stage for a steady to lower opening when Tuesday's night trading session begins. 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 202.23 is the next upside target. Closes below the 50-day moving average crossing at 189.04 would confirm that a short-term top has been posted. First resistance is the reaction high crossing at 202.23. Second resistance is September's high crossing at 209.35. First support is October's low crossing at 182.39. Second support is September's low crossing at 178.06.  

November unleaded gas closed lower on Monday as it consolidates some of the rally off October's low. The mid-range close sets the stage for a steady 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. If November extends the rally off October's low, the reaction high crossing at 168.24 is the next upside target. Closes below the 50-day moving average crossing at 155.38 would confirm that a short-term top has been posted. First resistance is the reaction high crossing at 168.24. Second resistance is September's high crossing at 175.26. First support is the 50-day moving average crossing at 155.38. Second support is October's low crossing at 151.75.

November Henry natural gas closed higher on Monday. The mid-range close sets the stage for a steady to higher opening when Tuesday'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 decline off September's high, August's low crossing at 2.135 is the next downside target. Closes above the 20-day moving average crossing at 2.402 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 2.375. Second resistance is the 50-day moving average crossing at 2.402. First support is last-Friday's low crossing at 2.187. Second support is August's low crossing at 2.135.         

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

The December Dollar posted an inside day with a higher close on Monday as it consolidated some of last-week's decline. The mid-range close sets the stage for a steady opening when Tuesday'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 97.99 would open the door for additional weakness near-term. Closes above last-Tuesday's high crossing at 98.95 would confirm that a low has been posted. First resistance is October's high crossing at 99.30. 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 closed lower on Monday as it consolidates some of the rally off October's low. The mid-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. If December extends this month's rally, the 50-day moving average crossing at 111.28 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 111.28. Second resistance is September's high crossing at 111.84. First support is October's low crossing at 109.38. Second support is monthly support crossing at 109.21.

The December British Pound posted an inside day with a lower close on Monday. The mid-range close sets the stage for a steady to lower 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. If December extends last-week's rally, 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 would confirm that a short-term top 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 1.2241. Second support is September's low crossing at 1.2008.    

The December Swiss Franc closed slightly lower on Monday.The mid-range close sets the stage for a steady to lower opening when Tuesday'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 last-Tuesday's high crossing at 1.0150 would confirm that a low has been posted. First resistance is last-Tuesday's high crossing at 1.0150. Second resistance is the 50-day moving average crossing at 1.0219. First support is October's low crossing at 1.0029. Second support is May's low crossing at 1.0000.

The December Canadian Dollar posted an inside day with a lower close on Monday as it consolidates some of last-Friday's rally. 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 bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off last-Thursday's low, September's high crossing at 76.23 is the next upside target. Closes below the 10-day moving average crossing at 75.29 would confirm that a short-term top has been posted. First resistance is last-Friday's high crossing at 75.96 is the next upside target. 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 posted an inside day with a higher close on Monday as it consolidates some of last-week's decline. 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off August's high, the May 21^st low crossing at 0.0919 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-Friday's low crossing 0.0924. Second support is the May 21^st low crossing at 0.0919.  

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

December gold posted an inside day with a higher close on Monday while extending the August-October trading range. The mid-range close sets the stage for a steady to higher opening when Tuesday'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 38% retracement level of the May-September-rally at 1459.80 is the next downside target. If December renews the rally off October's low, the reaction high crossing at 1543.30 is the next upside target. First resistance the reaction 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 posted an inside day with a higher close on Monday. The high-range close set the stage for a steady to higher opening when Tuesday'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 18.800 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 last-Wednesday's high crossing at 18.800. Second resistance is the September 24^th high crossing at 18.810. First support is October'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 Monday as it extends the rally off October's low. 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 overbought but remain 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. 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 the reaction high crossing at 273.20. First support is October'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 a 1/2-cent at 3.97 1/4. 

December corn closed fractionally lower on Monday as it consolidates some of last-Friday's rally. The mid-range close sets the stage for a steady to lower opening when Tuesday's night sessions begins trading. 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. Closes below last-Thursday's low crossing at 3.78 1/4 would confirm that a short-term top has been posted. 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 last-Thursday's low crossing at 3.78 1/4. Second support is the September 26th low crossing at 3.72 1/4.   

December wheat closed up 3-cents at 5.11. 

December wheat closed higher on Monday as it extends the rally off September's low. The mid-range close sets the stage for a steady to higher opening when Tuesday'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 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 are needed to confirm that a short-term top has been posted. First resistance is the 62% retracement level of the June-September-decline crossing at 5.21 3/4. Second resistance is the 75% retracement level of the June-September-decline crossing at 5.37. 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 6 1/4-cents at 4.25 3/4.

December Kansas City wheat closed higher on Monday breaking out to the topside of 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. If December extends the rally off September's low, the 38% retracement level of the June-September-decline crossing at 4.36 1/2 is the next upside target. Closes below last-Tuesday's low crossing at 3.98 3/4 would confirm that a short-term top has been posted. First resistance is today's high crossing at 4.27 3/4. Second resistance is the 38% retracement level of the June-September-decline crossing at 4.36 1/2. First support is last-Tuesday's low crossing at 3.98 3/4. Second support is September's low crossing at 3.81. 

December Minneapolis wheat closed up 4-cents at 5.52. 

December Minneapolis wheat closed higher on Monday. 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 turning 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 5.59 is the next upside target. Closes below the 20-day moving average crossing at 5.36 1/4 would confirm that a short-term top has been posted. 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 5.36 1/4. 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 closed up 3 3/4-cents at 9.39 3/4.

November soybeans closed higher on Monday as it extends the rally off September's low.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 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 9.06 are needed to confirm that a short-term top has been posted. First resistance is today's high crossing at 9.45 1/2. Second resistance is June's high crossing at 9.48. First support is the 10-day moving average crossing at 9.21 1/4. Second support is the 20-day moving average crossing at 9.06.    

December soybean meal closed up $0.40 at 310.50. 

December soybean meal closed higher on Monday as it extends the rally off September's low. 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 diverging but remain neutral to bullish signaling that a short-term top might be in or is near. 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 301.80 would temper the near-term friendly outlook. First resistance is the 50% retracement level of the June-September decline crossing at 314.00. Second resistance is the 62% retracement level of the June-September decline crossing at 319.20. First support is the 10-day moving average crossing at 306.60. Second support is the 20-day moving average crossing at 301.80.    

December soybean oil closed up 3-pts. at 30.00. 

December soybean oil closed higher on Monday. The mid-range close sets the stage for a steady to higher opening when Tuesday'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 renews the rally off the September 27^th low, September's high crossing at 30.41 is the next upside target. Closes below the 20-day moving average crossing at 29.55 would temper the near-term friendly outlook. First resistance is today's high crossing at 30.20. Second resistance is September's high crossing at 30.41. First support is the 20-day moving average crossing at 29.50. Second support is the September 27^th low crossing at 29.55.       

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

October hogs closed up $0.15 at $63.08. 

October hogs closed higher on Monday 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 63.73 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 63.73. 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 $1.18 at 110.63. 

October cattle closed higher on Monday 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, the 62% retracement level of the March-September-decline crossing at 114.58 is the next upside target. Closes below the 20-day moving average crossing at 104.85 would temper the near-term friendly outlook. First resistance is the 50% retracement level of the March-September-decline crossing at 110.82. Second resistance is the 62% retracement level of the March-September-decline crossing at 114.58. First support is the 10-day moving average crossing at 107.85. Second support is the 20-day moving average crossing at 104.85.  

October Feeder cattle closed up $1.45 at $145.55. 

October Feeder cattle closed higher on Monday as it extends the rally off September's low. The high-range close sets the stage for a steady to higher opening when Tuesday's session begins trading. Stochastics and the RSI are diverging but has turned 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 141.92 would signal that a short-term top has been posted. First resistance is today's high crossing at 146.40. 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 141.92. Second support is the 50-day moving average crossing at 137.03.      

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

December coffee closed higher on Monday as it consolidated some of the decline off September's high. The high-range close sets the stage for a steady to higher 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 9.86 is the next upside target. 

December cocoa closed lower on Monday as it consolidates some of the rally off August's low. The low-range close sets the stage for a steady to lower opening on 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 last-Tuesday's low crossing at 23.91 would confirm that a short-term top has been posted.    

March sugar closed slightly higher on Monday. The mid-range close set the stage for a steady to lower 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 12.59 would confirm that a low has been posted.  

December cotton posted a downside reversal on Monday. The low-range close sets the stage for a steady to lower opening on Tuesday. 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 60.05 would temper the near-term friendly outlook. If December extends the rally off August's low, the 50% retracement level of the April-August-decline crossing at 67.19 is the next upside target.