KEY EVENTS TO WATCH FOR:

Tuesday, June 12, 2018  

3^rd Quarter Manpower Quarterly U.S. Employment Outlook Survey

6:00 AM ET. May NFIB Index of Small Business Optimism

                       Small Business Idx (previous 104.8)

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

                       Chain Store Sales, W/W% (previous -5.6%)

                       Chain Store Sales, M/M% (previous +3.8%)

8:30 AM ET. May CPI

                       CPI, M/M% (previous +0.2%)

                       Core CPI, M/M% (previous +0.1%)

                       Energy Idx, M/M% (previous +1.4%)

                       Food Idx, M/M% (previous +0.3%)

                       Real Avg Wkly Pay-Infla Adj, M/M% (previous -0.1%)

                       CPI, Y/Y% (previous +2.5%)

                       Core Annual, Y/Y% (previous +2.1%)

8:30 AM ET. May Real Earnings

8:55 AM ET. Johnson Redbook Retail Sales Index

                       Ret Sales Mo-to-Date, M/M% (previous +0.1%)

                       Ret Sales Mo-to-Date, Y/Y% (previous +4.1%)

                       Latest Wk, Y/Y% (previous +4.0%)

12:00 PM ET. World Agricultural Supply & Demand Estimates (WASDE)

                       Corn, End Stocks (Bushels)

                       Soybeans, End Stocks (Bushels)

                       Wheat, End Stocks (Bushels)

4:30 PM ET. API Weekly Statistical Bulletin

                       Crude Stocks, Net Chg (Bbls) (previous -2.0M)

                       Gasoline Stocks, Net Chg (Bbls) (previous +3.8M)

                       Distillate Stocks, Net Chg (Bbls) (previous -0.9M)

  N/A              U.S. Federal Open Market Committee meeting

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

The June NASDAQ 100 closed slightly lower on Friday. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are overbought remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off April's low into uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average crossing at 7004.84 would confirm that a short-term top has been posted. First resistance is Thursday's high crossing at 7234.25. Second resistance is is unknown. First support is the 10-day moving average crossing at 7083.27. Second support is the 20-day moving average crossing at 7004.84. 

The June S&P 500 closed slightly higher on Friday as it extends the rally off April's low. The high-range close sets the stage for a steady to higher opening when Monday'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 June extends the rally off May's low, March's high crossing at 2806.00 is the next upside target. Closes below the 50-day moving average crossing at 2686.92 would confirm that a short-term top has been posted. First resistance is Thursday's high crossing at 2779.00. Second resistance is March's high crossing at 2806.00. First support is the 20-day moving average crossing at 2731.62. Second support is the 50-day moving average crossing at 2686.92. 

The Dow closed higher on Friday as it extends the rally off May's low. The high-range close sets the stage for a steady to higher opening when Monday'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 the rally off May's low, March's high crossing at 25,449.15 is the next upside target. Closes below last Tuesday's low crossing at 24,247.84 would confirm that a short-term top has been posted. First resistance is today's high crossing at 25,324.24. Second resistance is March's high crossing at 25,449.15. First support is last-Tuesday's low crossing at 24,247.84. Second support is May's low crossing at 23,531.31.     

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

June T-bonds closed down 7/32's at 143-29.

June T-bonds closed lower on Friday.The low-range close sets the stage for a steady to lower opening when Monday'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 143-05 would confirm that a short-term top has been posted. If June extends the rally off May's low, April's high crossing at 147-03 is the next upside target. First resistance is May's high crossing at 146-23. Second resistance is April's high crossing at 147-03. First support is the 20-day moving average crossing at 143-05. Second support is May's low crossing at 140-05.      

June T-notes closed up 15-points at 119-280.

June T-notes closed slightly higher on Friday. The low-range close sets the stage for a steady to lower opening when Monday'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 119.179 are needed to confirm that a short-term top has been posted. If June renews the rally off May's low, February's high crossing at 122.020 is the next upside target. First resistance May's high crossing at 121.125. Second resistance is February's high crossing at 122.020. First support is the 20-day moving average crossing at 119.179. Second support is May's low crossing at 118.105.     

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

July crude oil closed lower on Friday. The mid-range close sets the stage for a steady to lower opening when Monday's night session begins. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends the decline off May's high, April's low crossing at 61.73 is the next downside target. Closes above the 20-day moving average crossing at 68.86 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 66.24. Second resistance is the 20-day moving average crossing at 68.86.First support is Tuesday's low crossing at 64.22. Second support is April's low crossing at 61.73. 

July heating oil closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday's night trading session begins. Stochastics and the RSI are turning neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 221.74 are needed to confirm that a short-term low has been posted. If July extends the decline off May's high, the 50% retracement level of the February-May-rally crossing at 205.38 is the next downside target. First resistance is the 20-day moving average crossing at 221.74. Second resistance is May's high crossing at 229.87. First support is the 38% of the February-May-rally crossing at 211.14. Second support is the 50% retracement level of the February-May-rally crossing at 205.38. 

July unleaded gas closed lower on Wednesday as it extends the decline off May's high. The low-range close sets the stage for a steady to lower opening when Thursday'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 July extends this month's decline, the 62% retracement level of the February-May-rally crossing at 200.25 is the next downside target. Closes above the 20-day moving average crossing at 218.64 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 218.64. Second resistance is May's high crossing at 226.25. First support is the 50% retracement level of the February-May-rally crossing at 205.59. Second support is the 62% retracement level of the February-May-rally crossing at 200.25.

July Henry natural gas closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Today's close below the 20-day moving average crossing at 2.904 confirms that a short-term top has been posted. If July renews the rally off May's low, January's high crossing at 3.010, is the next upside target. First resistance is May's high crossing at 3.000. Second resistance is last October's high crossing at 3.043. First support is the 50-day moving average crossing at 2.841. Second support is the reaction low crossing at 2.804.  

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

The June Dollar closed higher on Friday. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends the decline off May's high, the reaction low crossing at 91.67 is the next downside target. If June renews the rally off February's low, weekly resistance crossing at 95.52 is the next upside target. First resistance is May's high crossing at 94.50. Second resistance is weekly resistance crossing at 95.52. First support is the reaction low crossing at 91.67. Second support is the 50-day moving average crossing at 91.50.  

The June Euro closed lower on Friday as it consolidates some of the rally off May's low. The mid-range close sets the stage for a steady opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. This week's closes above the 20-day moving average crossing at 117.69 confirm that a short-term low has been posted. If June resumes the decline off April's high, the 62% retracement level of the 2016-2018 rally crossing at 114.66 is the next downside target. First resistance is the reaction high crossing at 120.25. Second resistance is the 50-day moving average crossing at 120.47. First support is the 62% retracement level of the 2016-2018 rally crossing at 114.66. Second support is the 75% retracement level of the 2016-2018 rally crossing at 112.10.    

The June British Pound closed slightly lower on Friday. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Multiple closes above the 20-day moving average crossing at 1.3417 are needed to confirm that a short-term low has been posted. If June renews the decline off April's high, last November's low crossing at 1.3148 is the next downside target. First resistance is the 20-day moving average crossing at 1.3417. Second resistance is the reaction high crossing at 1.3638. First support is May's low crossing at 1.3215. Second support is last November's low crossing at 1.3148. 

The June Swiss Franc closed lower on Friday. The mid-range close sets the stage for a steady to lower opening when Monday'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. Closes above the 50-day moving average crossing at 1.0211 would open the door for additional gains near-term. Closes below the 20-day moving average crossing at 1.0094 would confirm that a short-term top has been posted. First resistance is the 50-day moving average crossing at 1.0211. Second resistance is the 38% retracement level of the February-May-decline crossing at 1.0357 is the next upside target. First support is May's low crossing at 0.9972. Second support is weekly support crossing at 0.9833.

The June Canadian Dollar closed higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral signaling that sideways trading is possible near-term. Closes above the 50-day moving average crossing at 78.08 is needed to confirm that a short-term low has been posted. If June renews the decline off April's high, March's low crossing at 76.33 is the next downside target. First resistance is May's high crossing at 78.62. Second resistance is April's high crossing at 79.92. First support is Tuesday's low crossing at 76.54. Second support is March's low crossing at 76.33.  

The June Japanese Yen closed higher on Friday. The mid-range close sets the stage for a steady to higher opening when Monday’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 0.9219 would confirm that a short-term low has been posted. If June extends the decline off May's high, May's low crossing at 0.8992 is the next downside target. First resistance is the 50-day moving average crossing at 0.9219. Second resistance is the reaction high crossing at 0.9393. First support is May's low crossing at 0.8992. Second support is the 87% retracement level of the October-March-rally crossing at 0.8956.   

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

August gold closed slightly higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday'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 reaction high crossing at 1312.60 are needed to confirm that a short-term low has been posted. If August resumes the decline off April's high, the 75% retracement level of the December-January-rally crossing at 1283.70 is the next downside target. First resistance is the reaction high crossing at 1312.60. Second resistance is May's high crossing at 1332.40. First support is the 75% retracement level of the December-January-rally crossing at 1283.70. Second support is the 87% retracement level of the December-January-rally crossing at 1268.40.

July silver closed higher on Friday while extending May's trading range. The high-range close set the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If July extends the rally off May's low, April's high crossing at 17.425 is the next upside target. Closes below the 20-day moving average crossing at 16.523 would confirm that a short-term top has been posted. First resistance is Tuesday's high crossing at 16.935. Second resistance is April's high crossing at 17.425. First support is the reaction low crossing at 16.190. Second support is May's low crossing at 16.070.      

July copper closed higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday'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 July extends the rally off March's low, last-December's high crossing at 334.20 is the next upside target. Closes below the 20-day moving average crossing at 312.05 would confirm that a short-term top has been posted. First resistance is Thursday's high crossing at 331.55. Second resistance is last-December's high crossing at 334.20. First support is the 20-day moving average crossing at 312.05. Second support is May's low crossing at 301.00.   

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

July Corn closed up 3/4-cents at 3.77. 

July corn closed fractionally higher on Friday as it consolidates some of the decline off May's high. The mid-range close sets the stage for a steady to higher opening when Monday'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 July extends the decline off May's high, the 87% retracement level of the January-May-rally crossing at 3.68 1/4 is the next downside target. Closes above the 20-day moving average crossing at 3.94 1/2 are needed to confirm that a short-term low has been posted. First resistance is Monday's gap crossing at 3.90 3/4. Second resistance is the 20-day moving average crossing at 3.94 1/2. First support is today's low crossing at 3.73 1/2 Second support is the 87% retracement level of the January-May-rally crossing at 3.68 1/4.  

July wheat closed down 3 1/2-cents at 5.23 1/4. 

July wheat closed lower on Friday. The mid-range close sets the stage for a steady opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If July renews the rally off March's low, the 75% retracement level of 2017's decline crossing at 5.66 1/4 is the next upside target. If July renews the decline off May's high, the 50-day moving average crossing at 5.04 1/4 is the next downside target. First resistance is the 62% retracement level of the July-December-decline crossing at 5.43 3/4. Second resistance is the 75% retracement level of 2017's decline crossing at 5.66 1/4. First support is the 50-day moving average crossing at 5.04 1/4. Second support is May's low crossing at 4.86 1/4.       

July Kansas City Wheat closed down 6 1/4-cents at 5.38 1/4. 

July Kansas City wheat closed lower on Friday. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends the decline off May's high, May's low crossing at 5.02 1/2. If July renews the rally off May's low, the 75% retracement level of the July-December-decline decline crossing at 5.77 is the next upside target. First resistance is May's high crossing at 5.74 3/4. Second resistance isthe 75% retracement level of the July-December-decline crossing at 5.77. First support is May's low crossing at 5.02 1/2. Second support is the reaction low crossing at 4.94 3/4. 

July Minneapolis wheat closed down 5-cents at 5.92 1/2. 

July Minneapolis wheat closed lower on Friday renewing the decline off May's high. The low-range close sets the stage for a steady to lower opening when Monday'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 July extends the aforementioned decline, April's low crossing at 5.81 is the next downside target. Closes above the 20-day moving average crossing at 6.13 3/4 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 6.13 3/4. Second resistance is May's high crossing at 6.51. First support is today's low crossing at 5.90 1/2. Second support is April's low crossing at 5.81.  

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

July soybeans closed down 5-cents at 9.69 1/4. 

July soybeans closed lower on Friday. The mid-range close sets the stage for a steady to lower opening when Monday'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 July extends the decline off May's high, the 62% retracement level of the 2015-2018-rally crossing at 9.57 3/4 is the next downside target. Closes above the 20-day moving average crossing at 10.11 3/4 would confirm that a low has been posted. First resistance is May's high crossing at 10.50 3/4. Second resistance is the late-April's high crossing at 10.67 1/2. First support is today's low crossing at 9.62 1/2. Second support is the 62% retracement level of the 2015-2018-rally crossing at 9.57 3/4.

July soybean meal closed down $0.20 at 358.20. 

July soybean meal closed lower on Friday as it extends the decline off May's high. The mid-range close sets the stage for a steady to lower opening when Monday'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 July extends the decline off May's high, the 62% retracement level of the January-May-rally crossing at 351.20 is the next downside target. Closes above the 20-day moving average crossing at 374.70 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 370.50. Second resistance is the 20-day moving average crossing at 374.70. First support is today's low crossing at 355.80. Second support is the 62% retracement level of the January-May-rally crossing at 351.20.  

July soybean oil closed down 9 pts. At 30.51. 

July soybean oil closed lower on Friday. The mid-range close sets the stage for a steady to lower opening when Monday'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 July extends the decline off May's high, May's low crossing at 30.15 is the next downside target. Closes above the 50-day moving average crossing at 31.30 are needed to confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 31.30. Second resistance is May's high crossing at 32.05. First support is today's low crossing at 30.27. Second support is May's low crossing at 30.15.

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

July hogs closed up $1.28 at $80.73. 

July hogs closed higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday's 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 July extends the rally off April's low, April's high crossing at 79.10 is the next upside target. Closes below the 50-day moving average crossing at 77.66 would confirm that a short-term top has been posted. First resistance is today's high crossing at 80.95. Second resistance is April's high crossing at 81.32. First support is May's low crossing at 74.97. Second support is April's low crossing at 72.52. 

October cattle closed up $1.05 at 108.20. 

October cattle closed higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday'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 October extends the rally off May's low, April's high crossing at 110.05 is the next upside target. Closes below the 20-day moving average crossing at 105.39 would confirm that a short-term top has been posted. First resistance is today's high crossing at 108.58. Second resistance is April's high crossing at 110.05. First support is the 20-day moving average crossing at 105.39. Second support is May's low crossing at 101.50.

August Feeder cattle closed up $1.20 at $147.28. 

August Feeder cattle closed higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday's session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If August extends the rally off May's low, March's high crossing at 153.88 is the next upside target. Closes below the 20-day moving average crossing at 143.34 would confirm that a short-term top has been posted. First resistance is May's high crossing at 149.50. Second resistance is March's high crossing at 153.88. First support is the 20-day moving average crossing at 143.34. Second support is May's low crossing at 136.25.    

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

July coffee closed higher on Friday as it consolidated some of this week's decline. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends this week's decline, April's low crossing at 11.53 is the next downside target. Closes above the 10-day moving average crossing at 11.90 would confirm that a short-term top has been posted. 

July cocoa closed higher on Friday. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends the decline off April's high, the 75% retracement level of the December-April-rally crossing at 21.02 is the next downside target. Closes above the 20-day moving average crossing at 25.39 would confirm that a low has been posted.  

July sugar closed higher on Friday as it consolidated some of the decline off last Friday's high. The high-range close set the stage for a steady to higher opening on Monday. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends the decline off June's high, May's low crossing at 11.12 is the next downside target. If July renews the rally off April's low, the 25% retracement level of the 2016-2018-decline crossing at 13.03 is the next upside target. 

July cotton closed higher on Friday and posted a new high close for the year. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If July extends this year's rally, weekly resistance crossing at 97.35 is the next upside target. Closes below the 20-day moving average crossing at 89.06 would confirm that a short-term top has been posted.