KEY EVENTS TO WATCH FOR:

Friday, November 15, 2019  

8:30 AM ET. November Empire State Manufacturing Survey

                       Mfg Idx (expected 5.0; previous 4.0)

                       Employment Idx (previous 7.6)

                       New Orders Idx (previous 3.5)

                       Prices Received (previous 6.3)

8:30 AM ET. October Advance Monthly Sales for Retail & Food Services

                       Overall Sales-SA, M/M% (expected +0.2%; previous -0.3%)

                       Sales, Ex-Auto, M/M% (expected +0.4%; previous -0.1%)

                       Sales, Ex-Auto & Gas, M/M% (previous +0%)

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

                       Import Prices (expected -0.2%; previous +0.2%)

                       Non-Petroleum Prices (previous -0.1%)

                       Petroleum Prices (previous +2.3%)

8:30 AM ET. U.S. Weekly Export Sales

                       Corn (Metric Tons) (previous 487.9)

                       Soybeans (Metric Tons) (previous 1807.4K)

                       Wheat (Metric Tons) (previous 360.6K)

9:15 AM ET. October Industrial Production & Capacity Utilization

                       Industrial Production, M/M% (expected -0.5%; previous -0.4%)

                       Capacity Utilization % (expected 77.0%; previous 77.5%)

                       Capacity Utilization, Net Chg (Pts) (previous -0.4)

10:00 AM ET. September Manufacturing & Trade: Inventories & Sales

                       Total Inventories (expected +0.1%; previous +0%)

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

The December NASDAQ 100 closed slightly lower 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 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 into uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average crossing at 8113.96 would confirm that a short-term top has been posted. First resistance is Tuesday's high crossing at 8300.25. Second resistance is unknown. First support is the 20-day moving average crossing at 8113.96. Second support is the 50-day moving average crossing at 7938.63.   

The December S&P 500 closed slightly lower on Thursday. The mid-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are 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, upside targets will be hard to project. Closes below the 20-day moving average crossing at 3050.40 would confirm that a short-term top has been posted. First resistance is Tuesday's high crossing at 3101.50. Second resistance is unknown. First support is the 20-day moving average crossing at 3050.40. Second support is the 50-day moving average crossing at 3003.73.  

The Dow closed slightly lower 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If the Dow extends this year's rally into uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average crossing at 27,273.38 are needed to confirm that a short-term top has been posted. First resistance is Wednesday's high crossing at 27,806.40. Second resistance is unknown. First support is the 10-day moving average crossing at 27,609.07. Second support is the 20-day moving average crossing at 27,273.38.

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

December T-bonds closed up 27/32's at 158-15.

December T-bonds closed higher on Thursday as it extends the rally off last-Thursday's low. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 158-26 are needed to confirm that a short-term low has been posted. If December resumes the decline off October's high, the 62% retracement level of the April-August-rally crossing at 153-06 is the next downside target. First resistance is the 20-day moving average crossing at 158-26. Second resistance is the 50-day moving average crossing at 160-17. First support is the 50% retracement level of the April-August-rally crossing at 155-25. Second support is the 62% retracement level of the April-August-rally crossing at 153-06.

December T-notes closed up 130-pts. At 129.095.

December T-notes closed higher on Thursday as it extends the rally off last-Thursday's low. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 129.105 are needed to confirm that a short-term low has been posted. If December resumes the decline off October's high, the 50% retracement level of the April-August-rally crossing at 127.171 is the next downside target. First resistance is the 20-day moving average crossing at 129.105. Second resistance is the 50-day moving average crossing at 129.289. First support is last-Thursday's low crossing at 127.315. Second support is the 50% retracement level of the April-August-rally crossing at 127.171.      

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

December crude oil closed lower on Thursday as it extends the trading range of the past two-weeks.The low-range close sets the stage for a steady to lower opening when Friday's night session begins. Stochastics and the RSI are overbought, diverging but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off October's low, the 62% retracement level of the September-October-decline crossing at 58.25 is the next upside target. Closes below the 50-day moving average crossing at 55.58 would confirm that a short-term top has been posted. First resistance is last-Thursday's high crossing at 57.88. Second resistance is the 62% retracement level of the September-October-decline crossing at 58.25. First support is the reaction low crossing at 53.71. Second support is October's low crossing at 50.99. 

December heating oil closed slightly higher on Thursday as they extend the October-November trading range. The low-range close sets the stage for a steady to lower 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. If December renews the rally off October's low, the September 19th high crossing at 201.38 is the next upside target. Closes below the October 31st low crossing at 185.94 would confirm that a short-term top has been posted. First resistance is October's high crossing at 197.99. Second resistance is the September 19th high crossing at 201.38. First support is the October 31st low crossing at 185.94. Second support is October's low crossing at 182.39. 

December unleaded 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 remain neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at 158.70 would confirm that a short-term top has been posted. If December renews the rally off October's low, September's high crossing at 171.96 is the next upside target. First resistance is November's high crossing at 168.43. Second resistance is September's high crossing at 171.96. First support is the 50-day moving average crossing at 158.70. Second support is the reaction low crossing at 154.17.

December 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 neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 2.633 are needed to confirm that a short-term top has been posted. First resistance is Monday's gap crossing at 2.755. Second resistance is November's high crossing at 2.905. If December extends this week's decline, the October 28^th gap crossing at 2.480 is the next downside target. First resistance is Monday's gap crossing at 2.755. Second resistance is November's high crossing at 2.905. First support is Wednesday's low crossing at 2.570. Second support is the October 28^th gap crossing at 2.480.         

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

The December Dollar 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 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, the October 8^th high crossing at 98.96 is the next upside target. Closes below the 20-day moving average crossing at 97.57 would confirm that a short-term top has been posted. First resistance is Wednesday's high crossing at 98.30. Second resistance is the October 8^th high crossing at 98.96. First support is the 20-day moving average crossing at 97.57. Second support is October's low crossing at 96.88.

The December Euro 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off October's high, the reaction low crossing at 109.93 is the next downside target.  Closes above the 20-day moving average crossing at 110.24 would confirm that a short-term low has been posted. First resistance is the 50% retracement level of the June-September-decline crossing at 112.48. Second resistance is the 62% retracement level of the June-September-decline crossing at 113.22. First support is the reaction low crossing at 109.93. Second support is October's low crossing at 109.38. 

The December British Pound closed higher on Thursday while extending the trading range of the past four-weeks. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If December renews the rally off September's low, the 75% retracement level of the February-September decline crossing at 1.3161 is the next upside target. Closes below the 50-day moving average crossing at 1.2638 would confirm that a short-term top has been posted. First resistance is the 62% retracement level of the February-September decline crossing at 1.2958. Second resistance is the 75% retracement level of the February-September decline crossing at 1.3161. First support is the 50-day moving average crossing at 1.2638. Second support is October's low crossing at 1.2224.    

The December Swiss Franc closed higher on Thursday.The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Today's close above the 50-day moving average crossing at 1.0128 confirms that a low has been posted. If December resumes the decline off October's high, October's low crossing at 1.0029 is the next downside target.First resistance is October's high crossing at 1.0205. Second resistance is the reaction high crossing at 1.0230. First support is October's low crossing at 1.0029. Second support is May's low crossing at 1.0000.

The December Canadian Dollar close slightly 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off October's high, October's low crossing at 74.96 is the next downside target. Closes above the 20-day moving average crossing at 76.07 are needed to confirm that a short-term low has been posted.First resistance is the 20-day moving average crossing at 76.07. Second resistance is October's high crossing at 76.70. First support is today's low crossing at 75.35. Second support is October's low crossing at 74.97.

The December Japanese Yen closed higher on Thursday as it extends the rally off last-Thursday's low. The high-range close sets the stage for a steady to higher opening when Friday’s night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 0.0928 would confirm that a short-term low has been posted. If December resumes the decline off August's high, April's low crossing at 0.0907 is the next downside target. First resistance is the 50-day moving average crossing at 0.0928. Second resistance is October's high crossing at 0.0945. First support is last-Thursday's low crossing 0.0915. Second support is April's low crossing at 0.0907.  

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

December gold closed higher on Thursday as it consolidates some of the decline off November's high. 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 50-day moving average crossing at 1498.10 would confirm that a short-term low has been posted. If December extends the decline off September's high, the 50% retracement level of the May-September-rally at 1426.60 is the next downside 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 closed slightly higher on Thursday as it consolidated some of the decline off October's high. The mid-range close set the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are oversold 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 17.692 are needed to temper the bearish outlook. If December resumes 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 reaction high crossing at 18.350. Second resistance is the September 24^th high crossing at 18.810. First support is the 62% retracement level of the May-September-rally crossing at 16.547. Second support is the 75% retracement level of the May-September-rally crossing at 15.859.

December copper closed lower on Thursday and below the 50-day moving average crossing at 262.85 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends this week's decline, the reaction low crossing at 257.30 is the next downside target. Closes above the 10-day moving average crossing at 258.91 would temper the near-term bearish outlook. First resistance is last-Thursday's high crossing at 273.00. Second resistance is July's high crossing at 280.50. First support is the reaction low crossing at 257.30. Second support is October's low crossing at 251.50.  

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

March Corn closed up a 1/4-cent at 3.84 1/4. 

March corn closed fractionally higher on Thursday as it extends the trading range of the past six-days. The low-range close sets the stage for a steady to lower opening when Friday's night sessions begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off October's low, the reaction low crossing at 3.78 is the next downside target. Closes above the 20-day moving average crossing at 3.93 1/4 would temper the near-term bearish outlook. First resistance is the 38% retracement level of the June-September-decline crossing at 4.07 3/4. Second resistance is the 50% retracement level of the June-September-decline crossing at 4.20 3/4. First support is the reaction low crossing at 3.78. Second support is September's low crossing at 3.65 3/4.   

March wheat closed down 1 1/2-cents at 5.07 1/2.  

March wheat closed lower on Thursday as it extends the trading range of the past three-weeks. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March resumes the rally off September's low, the 75% retracement level of the June-September-decline crossing at 5.44 1/4 is the next upside target. If March extends the decline off October's high, the 50-day moving average crossing at 5.00 1/4 is the next downside target. First resistance is the 75% retracement level of the June-September-decline crossing at 5.44 1/4. Second resistance is the 87% retracement level of the June-September-decline crossing at 5.58 1/4. First support is the 50-day moving average crossing at 5.00 1/4. Second support is the reaction low crossing at 4.84 1/4.     

March Kansas City Wheat closed down 2 1/2-cents at 4.22 1/4.

March Kansas City wheat closed lower on Thursday. 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 bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at 4.14 3/4 would confirm that a short-term top has been posted. If March resumes the rally off September's low, the 50% retracement level of the June-September-decline crossing at 4.70 3/4 is the next upside target. First resistance is the 38% retracement level of the June-September-declinecrossing at 4.53 1/4. Second resistance is the 50% retracement level of the June-September-decline crossing at 4.70 3/4. First support is the 50-day moving average crossing at 4.14 3/4. Second support is the October 31^st low crossing at 4.10.   

March Minneapolis wheat closed down 2 1/4-cents at 5.27 3/4. 

March Minneapolis wheat closed lower on Thursday as it extends the decline off October's high. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends this decline off October's high, the 75% retracement level of the September-October-rally crossing at 5.18 is the next downside target. Closes above the 20-day moving average crossing at 5.42 1/2 would confirm that a low has been posted. First resistance is the 20-day moving average crossing at 5.42 1/2. Second resistance is October's high crossing at 5.71 1/4. First support is the 62% retracement level of the September-October-rally crossing at 5.27 1/4. Second support is the 75% retracement level of the September-October-rally crossing at 5.18.     

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

January soybeans closed up 1 3/4-cents at 9.17.

January soybeans closed higher on Thursday as it consolidated some of the decline off October's high. 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 but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If January extends the decline off October's high, the 62% retracement level of the September-October-rally crossing at 9.00 3/4 is the next downside target. Closes above the 20-day moving average crossing at 9.33 3/4 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 9.33 3/4. Second resistance is October's high crossing at 9.59 1/2. First support is the 50% retracement level of the September-October-rally crossing at 9.12. Second support is the 62% retracement level of the September-October-rally crossing at 9.00 3/4.    

December soybean meal closed down $1.00 at 303.10. 

December soybean meal closed lower on Thursday. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 304.20 would confirm that a short-term low has been posted. If December extends the decline off October's high, September's low crossing at 294.30 is the next downside target. 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 last-Wednesday's low crossing at 298.50. Second support is the September 27^th low crossing at 294.30.    

December soybean oil closed up 27-pts. at 30.80. 

December soybean oil closed higher on Thursday as it consolidates some of this week'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 neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off November's high, the 50-day moving average crossing at 30.13 is the next downside target. Closes above the 10-day moving average crossing at 31.30 would temper the near-term bearish outlook. First resistance is November's high high crossing at 31.96. Second resistance is February's high crossing at 32.06. First support is today's low crossing at 30.46. Second support is the 50-day moving average crossing at 30.13.       

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

December hogs closed down $0.38 at $62.75. 

December hogs closed lower on Thursday as it extends the August-November 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. Multiple close above the 50-day moving average crossing at 66.71 would temper the near-term bearish outlook. If December extends the decline off October's high, September's low crossing at 57.75 is the next downside target. First resistance is September's high crossing at 72.73. Second resistance is the 50% retracement level of the April-September-decline crossing at 73.89. First support is today's low crossing at 62.67. Second support September's low crossing at 57.75.  

December cattle closed up $0.98 at 119.08. 

December cattle 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 bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 117.46 would confirm that a short-term top has been posted. If December extends the rally off September's low, the 87% retracement level of the March-September-decline crossing at 120.85 is the next upside target. First resistance is last-Monday's high crossing at 120.33. Second resistance is the 87% retracement level of the March-September-decline crossing at 120.85. First support is the 20-day moving average crossing at 117.46. Second support is the 50-day moving average crossing at 111.92.  

January Feeder cattle closed up $1.23-cents at $144.05. 

January Feeder cattle closed higher on Thursday. The high-range close sets the stage for a steady to higher opening when Friday's session begins trading. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. Multiple closes below the 20-day moving average crossing at 143.46 would signal that a short-term top has been posted. If January extends the rally off September's low, the 75% retracement level of the April-August-decline crossing at 151.31 is the next upside target. First resistance is the 62% retracement level of the April-August-decline crossing at 146.85. Second resistance is the 75% retracement level of the April-August-decline crossing at 151.31.First support is the 20-day moving average crossing at 143.46. Second support is the 50-day moving average crossing at 139.02.      

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

December coffee closed lower on Thursday. The mid-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are overbought and are poised to turn neutral to bearish with additional weakness. Closes below the 20-day moving average crossing at 10.26 would confirm that a short-term top has been posted. If December extends the rally off October's low, the 75% retracement level of the July-October-decline crossing at 11.26 is the next upside target. 

December cocoa closed higher on Thursday as it extends this week's rally to a new high for the month. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off August's low, the May 2018 high crossing at 28.33 is the next upside target. Closes below the 20-day moving average crossing at 25.03 would confirm that a short-term top has been posted.    

March sugar posted an inside day with a lower close on Thursday. The low-range close set the stage for a steady to lower opening on Friday. Stochastics and the RSI remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off October's low, October's high crossing at 12.93 is the next upside target. Closes below 50-day moving average crossing at 12.39 would confirm that a top has been posted. 

December cotton closed slightly higher on Thursday. The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are neutral signaling that sideways trading is possible near-term. If December resumes the rally off August's low, the 50% retracement level of the April-August-decline crossing at 67.19 is the next upside target. If December extends the decline off this month's high, the 50-day moving average crossing at 62.63 is the next downside target.