KEY EVENTS TO WATCH FOR:

Wednesday, February 12, 2020 

7:00 AM ET. MBA Weekly Mortgage Applications Survey

                       Composite Idx (previous 682.0)

                       Composite Idx, W/W% (previous +5.0%)

                       Purchase Idx-SA (previous 283.8)

                       Purchase Idx-SA, W/W% (previous -9.5%)

                       Refinance Idx (previous 2975.7)

                       Refinance Idx, W/W% (previous -1.8%)

10:00 AM ET. January Online Help Wanted Index

10:30 AM ET. EIA Weekly Petroleum Status Report

                       Crude Oil Stocks (Bbl) (previous 435.009M)

                       Crude Oil Stocks, Net Chg (Bbl) (previous +3.355M)

                       Gasoline Stocks (Bbl) (previous 261.144M)

                       Gasoline Stocks, Net Chg (Bbl) (previous -0.091M)

                       Distillate Stocks (Bbl) (previous 143.235M)

                       Distillate Stocks, Net Chg (Bbl) (previous -1.512M)

                       Refinery Usage (previous 87.4%)

                       Total Prod Supplied (Bbl/day) (previous 20.835M)

                       Total Prod Supplied, Net Chg (Bbl/day) (previous +1.197M)

2:00 PM ET. SEC Closed Meeting

Thursday, February 13, 2020 

8:30 AM ET. Unemployment Insurance Weekly Claims Report - Initial Claims

                       Jobless Claims (expected 210K; previous 202K)

                       Jobless Claims, Net Chg (previous -15K)

                       Continuing Claims (previous 1751000)

                       Continuing Claims, Net Chg (previous +48K)

8:30 AM ET. January CPI

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

                       Core CPI, M/M% (expected +0.2%; previous +0.1%)

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

                       Food Idx, M/M% (previous +0.2%)

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

                       CPI, Y/Y% (expected +2.5%; previous +2.3%)

                       Core Annual, Y/Y% (previous +2.2%; previous +2.3%)

8:30 AM ET. January Real Earnings

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

                       Corn (Metric Tons) (previous 1338.5K)

                       Soybeans (Metric Tons) (previous 707.8K)

                       Wheat (Metric Tons) (previous 338.6K)

9:45 AM ET. Bloomberg Consumer Comfort Index

10:00 AM ET. U.S. Senate Banking Committee hearing considers Federal Reserve Board nominees

10:30 AM ET. EIA Weekly Natural Gas Storage Report

                       Working Gas In Storage (Cbf) (previous 2609B)

                       Working Gas In Storage, Net Chg (Cbf) (previous -137B)

4:30 PM ET. Foreign Central Bank Holdings

4:30 PM ET. Money Stock Measures

4:30 PM ET. Federal Discount Window Borrowings

Friday, February 14, 2020 

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

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

                       Sales, Ex-Auto, M/M% (expected +0.3%; previous +0.7%)

                       Sales, Ex-Auto & Gas, M/M% (previous +0.5%)

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

                       Import Prices (expected -0.2%; previous +0.3%)

                       Non-Petroleum Prices (previous +0.2%)

                       Petroleum Prices (previous +2.1%)

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

                       Industrial Production, M/M% (expected -0.2%; previous -0.3%)

                       Capacity Utilization % (expected 76.8%; previous 77.0%)

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

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

                       Total Inventories (expected +0.1%; previous -0.2%)

10:00 AM ET. February University of Michigan Survey of Consumers – preliminary

                       Mid-Mo Sentiment (expected 99.2; previous 99.1)

                       Mid-Mo Expectations (previous 88.3)

                       Mid-Mo Current Idx (previous 115.8)

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

The March NASDAQ 100 closed slightly lower on Tuesday following yesterday's key reversal up. The low-range close sets the stage for a steady to lower opening when Wednesday'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 March extends the rally off last-October's low, upside targets will be hard to project. Closes below the 20-day moving average crossing at 9219.84 would confirm that a short-term top has been posted. First resistance is today's high crossing at 9609.50. Second resistance is unknown. First support is the 20-day moving average crossing at 9219.84. Second support is the December 27th low crossing at 8925.50. Third support is the 50-day moving average crossing at 8878.62.   

The March S&P 500 closed slightly higher on Tuesday following yesterday's key reversal up and posted a new contract high. The low-range close sets the stage for a steady to lower opening when Wednesday'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 March 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 3303.12 would confirm that a short-term top has been posted. First resistance is today's high crossing at 3373.30. Second resistance is unknown. First support is the 20-day moving average crossing at 3303.12. Second support is the 50-day moving average crossing at 3240.91.  

The Dow closed slightly lower on Tuesday. The low-range close sets the stage for a steady to lower opening when Wednesday'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. First resistance is today's high crossing at 29,415.39. Second resistance is unknown. First support is the 10-day moving average crossing at 28,940.74. Second support is the 50-day moving average crossing at 28,591.92.

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

March T-bonds closed down 26/32's at 162-11.

March T-bonds closed lower on Tuesday as it consolidates some of the rally off last-Thursday's low. The mid-range close sets the stage for a steady to lower opening when Wednesday'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 March resumes the rally off January's low, October's high crossing at 164-09 is the next upside target. Closes below the 20-day moving average crossing at 160-28 are needed to confirm a short-term top has been posted. First resistance is last-Monday's high crossing at 164-05. Second resistance is October's high crossing at 164-09. First support is the 20-day moving average crossing at 160-28. Second support is the 50-day moving average crossing at 158-24. 

March T-notes closed down 120 pts. at 131.315.

March T-notes closed lower on Tuesday as it consolidates some of the rally off last-Thursday's low. The low-range close sets the stage for a steady to lower opening when Wednesday'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 March resumes the rally off December's low, October's high crossing at 132.025 is the next upside target. Closes below the 20-day moving average crossing at 130.126 are needed to confirm that a short-term top has been posted. First resistance is last-Monday's high crossing at 131.290. Second resistance is October's high crossing at 132.025. First support is the 20-day moving average crossing at 130.126. Second support is the 50-day moving average crossing at 129.145.       

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

March crude oil closed slightly higher on Tuesday. The low-range close sets the stage for a steady to lower opening when Wednesday'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 March extends the decline off January's high, the December-2018 low crossing at 45.76 is the next downside target. Closes above the 20-day moving average crossing at 53.69 are needed to temper the near-term bearish outlook. First resistance is the 10-day moving average crossing at 50.91. Second resistance is the 20-day moving average crossing at 53.69. First support is last-Tuesday's low crossing at 49.52. Second support is the December-2018 low crossing at 45.76. 

March heating oil closed higher on Tuesday. The mid-range close sets the stage for a steady to higher opening when Wednesday's night trading session begins. Stochastics and the RSI are turning neutral signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 172.34 are needed to confirm that a short-term low has been posted. If March resumes this year's decline, the June 2017-low crossing at 156.49 is the next downside target. First resistance is last-Friday's high crossing at 167.77. Second resistance is the 20-day moving average crossing at 172.34. First support is last-Tuesday's low crossing at 156.84 Second support is the June 2017-low crossing at 156.49.

March unleaded gas closed lower on Tuesday 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 Wednesday'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 155.22 are needed to confirm that a short-term low has been posted. If March resumes the decline off January's high, August's low crossing at 142.08 is the next downside target. First resistance is the 20-day moving average crossing at 155.22. Second resistance is the 50-day moving average crossing at 163.21. First support is last-Tuesday's low crossing at 143.45. Second support is August's low crossing at 142.08.

March Henry natural gas closed higher on Tuesday as it consolidates some of Monday's decline. The high-range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off November's high, weekly support crossing at 1.611 is the next downside target. Closes above the 20-day moving average crossing at 1.902 are needed to confirm that a short-term low has been posted.First resistance is Monday's gap crossing at 1.842. Second resistance is the 20-day moving average crossing at 1.902. First support is today's low crossing at 1.753. Second support is weekly support crossing at 1.611.         

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

The March Dollar posted a downside reversal and closed lower on Tuesday ending a six-day rally. The low-range close sets the stage for a steady to lower opening when Wednesday'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 March extends the rally off December's low, weekly resistance crossing at 99.31 is the next upside target. Multiple closes below the 20-day moving average crossing at 97.74 would confirm that a short-term top has been posted. First resistance is today's high crossing at 98.86. Second resistance is weekly resistance crossing at 99.31. First support is the 10-day moving average crossing at 98.07. Second support is the 20-day moving average crossing at 97.74.

The March Euro closed higher on Tuesday ending a six-day decline off the January 31^st high crossing at 11.25. The high-range close sets the stage for a steady to higher opening when Wednesday'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 the decline off December's high, monthly support crossing at 106.55 is the next downside target. Closes above the 20-day moving average crossing at 110.72 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 110.26. Second resistance is the 20-day moving average crossing at 110.72. First support is today's low crossing at 109.13. Second support is monthly support crossing at 106.55.

The March British Pound closed higher on Tuesday. The high-range close sets the stage for a steady to higher opening when Wednesday'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 the decline off December's high, the November 22nd low crossing at 1.2870 is the next downside target. Closes above the 50-day moving average crossing at 1.3099 would confirm that a short-term low has been posted. First resistance is the January 31st high crossing at 1.3225. Second resistance is the December 31st high crossing at 1.3312. First support is Monday's low crossing at 1.2885. Second support is the November 22nd low crossing at 1.2870.

The March Swiss Franc posted a key reversal up on Tuesday as it consolidates some of the decline off February's high. The high-range close sets the stage for a steady to higher opening when Wednesday'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 month's decline, the 62% retracement level of the December-January-rally crossing at 1.0207 is the next downside target. Close above the 20-day moving average crossing at 1.0341 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 1.0341. Second resistance is February's high crossing at 1.0418. First support isthe 50% retracement level of the December-January-rally crossing at 1.0252. Second support is the 62% retracement level of the December-January-rally crossing at 1.0207.

The March Canadian Dollar closed higher on Tuesday as it consolidates some of this year's decline. The high-range close sets the stage for a steady to higher opening when Wednesday'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 the decline off December's high, September's low crossing at 74.90 is the next downside target. Closes above the 20-day moving average crossing at 75.83 are needed to confirm that a short-term low has been posted.First resistance is the 10-day moving average crossing at 75.36. Second resistance is the 20-day moving average crossing at 75.83. First support is Monday's low crossing at 75.01. Second support is September's low crossing at 74.90. 

The March Japanese Yen closed unchanged on Tuesday leaving last-Friday's key reversal up unconfirmed. The high-range close sets the stage for a steady to higher opening when Wednesday’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 last-week's decline, January's low crossing at 0.0909 is the next downside target. Closes above the 50-day moving average crossing at 0.0919 would temper the near-term bearish outlook. First resistance is last-Monday's high crossing at 0.0925. Second resistance is January's high crossing at 0.0932. First support is January's low crossing 0.0909. Second support is weekly support crossing at 0.0906.  

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

April gold closed lower on Tuesday.The mid-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If April resumes the rally off January's low, January's high crossing at $1619.60 is the next upside target. Closes below the January 14^th low crossing at $1542.80 are needed to renew the decline off January's high. If this support level is broken, the 50-day moving average crossing at $1534.50 is the next downside target. First resistance is February's high crossing at $1598.50. Second resistance is January's high crossing at $1619.60. First support is the January 14^th low crossing at $1542.80. Second support is the 50-day moving average at $1534.50.

March silver closed lower on Tuesday as it extends the trading range of the past five-weeks. The low-range close set the stage for a steady to lower opening when Wednesday'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 March renews the decline off January's high, the January 18^th low crossing at 16.935 is the next downside target. Closes above the reaction high crossing at 18.375 are needed to confirm that a low has been posted. First resistance is January's high crossing at 18.895. Second resistance is the September 24th high crossing at 18.930. First support is January's low crossing at 17.280. Second support is the December 18^th low crossing at 16.935.

March copper closed higher on Tuesday. The mid-range close sets the stage for a steady to higher opening when Wednesday'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 extends the rally off February's low, the 20-day moving average crossing at 265.66 is the next upside target. If March resumes this year's decline, the 75% retracement level of the 2016-2018-rally crossing at 234.31 is the next downside target. First resistance is the 20-day moving average crossing at 265.66. Second resistance is the 50-day moving average crossing at 272.99. First support is last-Monday's low crossing at 248.75. Second support is the 75% retracement level of the 2016-2018-rally crossing at 234.31.  

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

March Corn closed down $0.02 1/4-cents at 3.79 1/2. 

March corn closed lower on Tuesday while extending the December-February trading range. Today's WASDE report showed no change from January's report in 2019's crop size and projected carryout. The low-range close sets the stage for a steady to lower opening when Wednesday's night sessions begins trading. Stochastics and the RSI are neutral signaling that sideways trading is possible near-term. Closes above January's high crossing at $3.94 are needed to confirm an upside trading range breakout while opening the door for a possible test of November's high crossing at $4.00. Closes below the reaction low crossing at $3.75 1/4 would open the door for a possible test of December's low crossing at $3.71. First resistance is January's high crossing at $3.94. Second resistance is November's high crossing at $4.00. First support is January's low crossing at $3.75 1/4. Second support is December's low crossing at $3.71.    

March wheat closed down $0.10 3/4-cents at $5.41 1/4.  

March wheat closed lower on Tuesday and below the 50-day moving average crossing at 5.51 3/4 as it renewed the decline off January's high. 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 March extends the decline off January's high, the 50% retracement level of the September-January-rally crossing at $5.25 1/2 is the next downside target. Closes above the 20-day moving average crossing at $5.64 1/4 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at $5.64 1/4. Second resistance is January's high crossing at $5.92 1/2. First support is today's low crossing at $5.39. Second support is the 50% retracement level of the September-January-rally crossing at $5.25 1/2.      

March Kansas City Wheat closed down $0.04-1/4 cents at $4.68 1/4.

March Kansas City wheat closed lower on Tuesday. The low-range close sets the stage for a steady to lower opening when Wednesday 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 $4.80 1/2 would confirm that a short-term low has been posted. Closes below last-Monday's low crossing at $4.58 1/2 would open the door for additional weakness near-term. First resistance is the 20-day moving average crossing at $4.80 1/2. Second resistance is January's high crossing at $5.04 3/4. First support is last-Monday's low crossing at $4.58 1/2. Second support is December's low crossing at 4.23 1/2.   

March Minneapolis wheat closed down $0.02 1/2-cents at $5.31 1/4. 

March Minneapolis wheat closed lower on Tuesday as it extends the trading range of the past seven-days. The low-range close sets the stage for a steady to lower opening when Wednesday'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 the decline off January's high, the 75% retracement level of the November-January-rally crossing at 5.21 1/4 is the next downside target. Closes above the 20-day moving average crossing at $5.43 1/2 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at $5.43 1/2. Second resistance is January's high crossing at $5.67 3/4. First support is the 62% retracement level of the November-January-rally crossing at 5.29 1/2. Second support is the 75% retracement level of the November-January-rally crossing at 5.21 1/4.      

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

March soybeans closed up $0.00 3/4-cents at $8.85.

March soybeans closed fractionally higher on Tuesday following a neutral to friendly WASDE report.  The high-range close sets the stage for a steady to higher opening when Wednesday'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 $8.98 1/2 are needed to confirm that a short-term low has been posted. If March resumes this year's decline, last-May's low crossing at $8.41 1/2 is the next downside target. First resistance is the 20-day moving average crossing at $8.98 1/2. Second resistance is the 50-day moving average crossing at 9.16 1/2. First support is February's low crossing at $8.68 3/4. Second support is last-May's low crossing at $8.41 1/2.    

March soybean meal closed down $0.65 at $290.90. 

March soybean meal posted an inside day with a lower close on Tuesday. The mid-range close sets the stage for a steady to lower opening when Wednesday'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 $294.90 are needed to confirm that a short-term low has been posted. If March extends this year's decline, monthly support crossing at $283.10 is the next downside target. First resistance is the 20-day moving average crossing at $294.90. Second resistance is the 50-day moving average crossing at $299.30. First support is last-Thursday's low crossing at $286.40. Second support is monthly support crossing at $283.10.     

March soybean oil closed up 12-pts. at 30.74. 

March soybean oil closed higher on Tuesday. The mid-range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI turned neutral to bearish signaling that sideways to lower prices are possible near-term. If March renews the decline off January's high, the 75% retracement level of the May-January low crossing at 29.54 is the next downside target. Closes above the 20-day moving average crossing at 31.74 are needed to confirm that a short-term top has been posted. First resistance is the 20-day moving average crossing at 31.74. Second resistance is the 50-day moving average crossing at 32.71. First support is last-Monday's low crossing at 29.81. Second support is the 75% retracement level of the May-January low crossing at 29.54.        

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

April hogs closed down $0.85 at $64.23. 

April hogs closed lower on Tuesday as it consolidates some of the rally off February'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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. If April extends the rally off February's low, the January 30th gap crossing at 68.67 is the next upside target. If April resumes the decline off January's high, weekly support crossing at $52.25 is the next downside target. First resistance is the January 30th gap crossing at $68.67. Second resistance is the 20-day moving average crossing at 69.02. First support is February's low crossing at $61.00. Second support is weekly support crossing at $52.25.   

April cattle closed down $1.20 at $117.18. 

April cattle closed lower on Tuesday as it extends the decline off December's high. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If April extends the aforementioned decline, the 62% retracement level of the September-December-2019 rally crossing at $116.71 is the next downside target. Closes above the 20-day moving average crossing at $122.48 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at $122.48. Second resistance is the 50-day moving average crossing at $125.03. First support is today's low crossing at $117.08. Second support is the 62% retracement level of the September-December-2019 rally crossing at $116.71.   

March Feeder cattle closed down $1.03-cents at $134.68. 

March Feeder cattle closed lower on Tuesday. The low-range close sets the stage for a steady to lower opening when Wednesday's session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If March resumes this year's decline, the 75% retracement level of the September-January-rally crossing at $131.45 is the next downside target. Closes above the 20-day moving average crossing at $138.86 would temper the near-term bearish outlook. First resistance is last-Wednesday's high crossing at $138.08. Second resistance is the 20-day moving average crossing at $138.86. First support is last-Monday's low crossing at $133.65. Second support is the 75% retracement level of the September-January-rally crossing at $131.45.       

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

March coffee closed higher on Tuesday. The high-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI oversold but are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 10.55 would confirm that a low has been posted. If March extends the decline off December's high, October's low crossing at 9.58 is the next downside target. 

March cocoa closed higher on Tuesday as it extends the rally off December's low. The mid-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends this winter's rally, weekly resistance crossing at 30.14 is the next upside target. Closes below the 20-day moving average crossing at 27.80 would confirm that a short-term top has been posted.            

March sugar closed sharply higher on Tuesday as it extends the rally off September's low. The high-range close set the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off October's low, last-January's high crossing at 16.25 is the next upside target. Closes below the 20-day moving average crossing at 14.64 are needed to confirm that a top has been posted.   

March cotton closed slightly higher on Tuesday following a mostly neutral WASDE report. The high-range close sets the stage for a steady to higher opening on Wednesday. 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 69.16 would confirm that a short-term low has been posted. If March renews the decline off January's  high, the December 18^th low crossing at 66.25 is the next downside target.