KEY EVENTS TO WATCH FOR:

Tuesday, May 5, 2020 

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

                       Chain Store Sales, W/W% (previous +1.4%)

                       Chain Store Sales, M/M% (previous -20.4%)

8:30 AM ET. March U.S. International Trade in Goods & Services

                       Trade Balance (USD) (expected -41.0B; previous -39.93B)

                       Exports (USD) (previous 207.54B)

                       Exports, M/M% (previous -0.4%)

                       Imports (USD) (previous 247.48B)

                       Imports, M/M% (previous -2.5%)

8:55 AM ET. Johnson Redbook Retail Sales Index

                       Ret Sales Mo-to-Date, M/M% (previous -11.8%)

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

                       Latest Wk, Y/Y% (previous -8.1%)

9:45 AM ET. April US Services PMI

                       PMI, Services (previous 39.8)

10:00 AM ET. April ISM Non-Manufacturing Report on Business

                       Non-Mfg Composite Idx (expected 35.7; previous 52.5)

                       Non-Mfg Business Idx (previous 48.0)

                       Prices Idx (previous 50.0)

                       Employment Idx (previous 47.0)

                       New Orders Idx (previous 52.9)

10:00 AM ET. May IBD/TIPP Economic Optimism Index

                       Economic Optimism Idx (previous 47.8)

                       6-Mo Economic Outlook (previous 38.0)

4:30 PM ET. API Weekly Statistical Bulletin

                       Crude Stocks, Net Chg (Bbls) (previous +10.0M)

                       Gasoline Stocks, Net Chg (Bbls) (previous -1.1M)

                       Distillate Stocks, Net Chg (Bbls) (previous +5.5M)

Wednesday, May 6, 2020 

7:00 AM ET. MBA Weekly Mortgage Applications Survey

                       Composite Idx (previous 743.4)

                       Composite Idx, W/W% (previous -3.3%)

                       Purchase Idx-SA (previous 208.0)

                       Purchase Idx-SA, W/W% (previous +11.6%)

                       Refinance Idx (previous 3901.4)

                       Refinance Idx, W/W% (previous -7.3%)

8:15 AM ET. April ADP National Employment Report

                       Private Sector Jobs, Net Chg (expected -22250K; previous -27000)

8:30 AM ET. U.S. Department of the Treasury's quarterly refundingannouncement

10:00 AM ET. SEC Closed Meeting

10:30 AM ET. EIA Weekly Petroleum Status Report

                       Crude Oil Stocks (Bbl) (previous 527.631M)

                       Crude Oil Stocks, Net Chg (Bbl) (previous +8.991M)

                       Gasoline Stocks (Bbl) (previous 259.565M)

                       Gasoline Stocks, Net Chg (Bbl) (previous -3.669M)

                       Distillate Stocks (Bbl) (previous 141.972M)

                       Distillate Stocks, Net Chg (Bbl) (previous +5.092M)

                       Refinery Usage (previous 69.6%)

                       Total Prod Supplied (Bbl/day) (previous 15.763M)

                       Total Prod Supplied, Net Chg (Bbl/day) (previous +1.66M)

11:00 AM ET. April Global Services PMI

                       PMI, Services (previous 37.0)

1:00 PM ET. SEC Open Meeting

Thursday, May 7, 2020 

7:30 AM ET. April Challenger Job-Cut Report

                       Job Cuts, M/M% (previous +292%)

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

                       Corn (Metric Tons) (previous 1695.7K)

                       Soybeans (Metric Tons) (previous 1183.3K)

                       Wheat (Metric Tons) (previous 622.5K)

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

                       Jobless Claims (expected 2650K; previous 3839K)

                       Jobless Claims, Net Chg (previous -603K)

                       Continuing Claims (previous 17992000)

                       Continuing Claims, Net Chg (previous +2174K)

8:30 AM ET. 1^st Quarter Preliminary Productivity & Costs

                       Non-Farm Productivity, Q/Q% (expected -5.5%; previous +1.4%)

                       Unit Labor Costs (expected +2.1%; previous +1.4%)

9:45 AM ET. Bloomberg Consumer Comfort Index

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

                       Working Gas In Storage (Cbf) (previous 2210B)

                       Working Gas In Storage, Net Chg (Cbf) (previous +70B)

12:00 PM ET. April Monthly U.S. Retail Chain Store Sales Index

1:00 PM ET. March Consumer Credit

                       Consumer Credit Net Chg (USD) (expected +15.0B; previous +22.3B)

4:30 PM ET. Money Stock Measures

4:30 PM ET. Federal Discount Window Borrowings

4:30 PM ET. Foreign Central Bank Holdings

Friday, May 8, 2020  

8:30 AM ET. April U.S. Employment Report

                       Non-Farm Payrolls (expected -22000K; previous -701K)

                       Unemployment Rate (expected 16.1%; previous 4.4%)

                       Avg Hourly Earnings (USD) (previous 28.62)

                       Avg Hourly Earnings-Net Chg (USD) (previous +0.11)

                       Avg Hourly Earnings, M/M% (expected +0.2%; previous +0.39%)

                       Avg Hourly Earnings, Y/Y% (expected +3.3%; previous +3.1%)

                       Overall Workweek (previous 34.2)

                       Overall Workweek Net Chg (previous -0.2)

                       Government Payrolls (previous +12K)

                       Private Payroll (previous -713K)

                       Participation Rate (previous 62.7%)

                       Non-Farm Payrolls Bench Net Chg

10:00 AM ET. March Monthly Wholesale Trade

                       Inventories, M/M% (expected -1.0%; previous -0.7%)

Monday, May 11, 2020  

10:00 AM ET. April Employment Trends Index

                       ETI (previous 60.39)

                       ETI, Y/Y%

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

The Dow managed to closed higher on Monday despite investors contending with signs of a brewing conflict between China and the U.S. over Beijing’s handling of the coronavirus outbreak. The high-range close that sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that a short-term top might be in or is near. Multiple closes below the 20-day moving average crossing at 23,654.89 are needed to confirm that a short-term top has been posted. If the Dow renews the rally off March's low, the 62% retracement level of the February-March-decline crossing at 25,199.76 is the next upside target. First resistance is last-Wednesday's high crossing at 24,764.77. Second resistance is the 62% retracement level of the February-March-decline crossing at 25,199.76. First support is the 50-day moving average crossing at 23,354.23. Second support is April's low crossing at 20,735.02.  

The June NASDAQ 100 closed higher on Monday as it consolidates some of the decline off last-Thursday's high. 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 bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 8593.67 would signal that a short-term top has been posted. If June renews the rally off March's low, the 87% retracement level of the February-March-decline crossing at 9384.61 is the next upside target. First resistance is last-Thursday's high crossing at 9144.75. Second resistance is the 87% retracement level of the January-March-decline crossing at 9384.61. First support is the 20-day moving average crossing at 8593.67. Second support is the April 7^th low crossing at 7948.00.  

The June S&P 500 gapped down and closed lower on Monday as it consolidates some of the rally off March'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 neutral to bearish signaling that sideways to lower prices are possible near-term. Multiple closes below the 20-day moving average crossing at 2800.48 are needed to confirm that a short-term top has been posted. If March renews the rally off March's low, the 75% retracement level of the February-March-decline crossing at 3085.85 is the next upside target. First resistance is last-Wednesday's high crossing at 2957.70. Second resistance is the 75% retracement level of the February-March-decline crossing at 3085.85. First support is the 20-day  moving average crossing at 2800.48. Second support is April's low crossing at 2448.00.

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

June T-bonds closed up 3/32's at 180-24.  

June T-bonds closed slightly higher on Monday while extending the April-May 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 turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at 177-18 would confirm that a short-term top has been posted. If June renews the rally off March's low, March's high crossing at 191-22. First resistance is the April 22nd high crossing at 183-02. Second resistance is the March 12th high crossing at 184-07. First support is the April 14^th low crossing at 177-14. Second support is the 50-day moving average crossing at 177-18.  

June T-notes closed up 20-points at 138.300.

June T-notes closed higher on Monday while extending the April-May trading range. 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 137.143 are needed to confirm that a short-term top has been posted. If June renews the rally off March's low, March's high crossing at 140.240 is the next upside target. First resistance is the April 21^st high crossing at 139.220. Second resistance is March's high crossing at 140.240. First support is the April 7^th low crossing at 137.160. Second support is the 50-day moving average crossing at 137.143.        

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

June crude oil closed higher on Monday as it extends the rally off April's low. The high-range close sets the stage for a steady to higher 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 $21.90 are needed to confirm that a short-term low has been posted. If June renews this year's decline, zero is the next downside target. First resistance is the 20-day moving average crossing at $21.90. Second resistance is the 50-day moving average crossing at $29.50. First support is the April 28^th low crossing at $10.07. Second support is April's low crossing at $6.50.

June heating oil closed slightly higher on Monday. The high-range close sets the stage for a steady to higher opening when Tuesday's night trading session begins. Stochastics and the RSI are neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at $89.73 are needed to confirm that a short-term low has been posted. If June renews this year's decline, the October 2001 low on the monthly continuation chart crossing at $49.30 is the next downside target. First resistance is the 20-day moving average crossing at $89.73. Second resistance is the 50-day moving average crossing at $109.85. First support is last-Tuesday's low crossing at $67.24. Second support is the October 2001 low on the monthly continuation chart crossing at $49.30.

June unleaded gas closed higher on Monday as it extends the rally off April'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 becoming overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. Multiple closes above the reaction high crossing at 82.15 would confirm that a short-term low has been posted while opening the door for additional gains near-term. Closes below March's low crossing at 51.89 would renew this year's decline. First resistance is the 25% retracement level of the January-March-decline crossing at 88.30. Second resistance is the 38% retracement level of the January-March-decline decline crossing at 107.64. First support is March's low crossing at 51.89. Second support is monthly supportcrossing at 32.40.

June Henry natural gas 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 June renews the rally off April's low, the 50% retracement level of the 2019-2020 decline crossing at 2.154 is the next upside target. If June renews the decline off April's high, the April 14^th low crossing at 1.705 is the next downside target. First resistance is April's high crossing at 2.100. Second resistance is the 50% retracement level of the 2019-2020 decline crossing at 2.154. First support is the April 14^th low crossing at 1.705. Second support is April's low crossing at 1.649.          

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

The June Dollar closed higher on Monday as it consolidated some of the decline off April's high.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 a low might be in or is near. Closes above the 10-day moving average crossing at 99.92 would temper the near-term bearish outlook. If June extends the aforementioned decline the 62% retracement level of March's rally crossing at 98.14 is the next downside target. First resistance is the April 6th high crossing at 101.03. Second resistance is March's high crossing at 103.96. First support is April's low crossing at 98.77. Second support is the March  27^thlow crossing at 98.34. Third support is the 62% retracement level of March's rally crossing at 98.14. 

The June Euro closed sharply lower on Monday as it consolidates some of the rally off April'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 neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 109.97 are needed to confirm that a short-term low has been posted. If June resumes the decline off the March 27^th high, March's low crossing at 106.71 is the next downside target. First resistance is last-Friday's high crossing at 110.29. Second resistance is the March 27^th high crossing at 111.88. First support is April's low crossing at 107.39. Second support is March's low crossing at 106.71. 

The June British Pound closed 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 June extends last-Thursday's rally, the 62% retracement level of the December-March-decline crossing at 1.2758 is the next upside target. If June resumes the decline off the April-14^th high crossing at 1.2653, the April 7^th low crossing at 1.2174 is the next downside target. First resistance is the 62% retracement level of the December-March-decline crossing at 1.2758. Second resistance is the 75% retracement level of the December-March-decline crossing at 1.3042. First support is the April 21^st low crossing at 1.2252. Second support is the April 7^th low crossing at 1.2174.

The June Swiss Franc closed lower on Monday. 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 June extends last-week's rally, the March 30^th high crossing at 1.0566 is the next upside target. Closes below the 10-day moving average crossing at 1.0318 would confirm that a short-term top has been posted. First resistance April's high crossing at 1.0443. Second resistance is the March 30^th high crossing at 1.0566. First support is April's low crossing at 1.0216. Second support is March's low crossing at 1.0138.

The June Canadian Dollar closed slightly 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 neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the April 21^st low crossing at 70.12 would confirm that a short-term top has been posted. If June extends the rally off March's low, the 50% retracement level of the January-March-decline crossing at 72.73 is the next upside target. First resistance is the 50-day moving average crossing at 71.82. Second resistance is the 50% retracement level of the January-March-decline crossing at 72.73. First support is the April 21st low crossing at $70.12. Second support is the March 31^st low crossing at 69.73. Third support is March's low crossing at 68.20. 

The June Japanese Yen 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 neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the April 23rd low crossing at 0.0926 would confirm that a short-term top has been posted. If June renews the rally off March's low, long-term resistance crossing at 0.0942 is the next upside target. First resistance is long-term resistance crossing at 0.0942. Second resistance is March's high crossing at 0.0992. First support is April's low crossing at 0.0916. Second support is March's low crossing at 0.0900.  

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

June gold 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 April renews the rally off March's low, the October-2012 high on the monthly continuation chart crossing at $1798.10 is the next upside target. Closes below the April 21st low crossing at $1666.20 would confirm that a short-term top has been posted while opening the door for additional weakness near-term. First resistance is April's high crossing at $1788.80. Second resistance is the October-2012 high on the monthly continuation chart crossing at $1798.10. First support is the April 21st low crossing at $1666.20. Second support is the 50-day moving average crossing at $1655.70.

July silver closed lower on Monday as it extends last-Thursday's key reversal down. The low-range close set the stage for a steady to lower 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 April 21st low crossing at 14.715 would confirm that a short-term top has been posted while opening the door for additional weakness near-term. If July resumes the rally off March's low, the 75% retracement level of the February-March-decline crossing at 17.237 is the next upside target. First resistance is the 62% retracement level of the February-March-decline crossing at 16.252. Second resistance is the 75% retracement level of the February-March-decline decline crossing at 17.237 is the next upside target. First support is the April 21st low crossing at 14.715. Second support is the April 1^st low crossing at 13.935.  

July copper closed slightly higher on Monday as it consolidates some of the decline off last-Thursday's high. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI have turned neutral to bearish signaling that a short-term top might be in or is near. Closes below the April 21st low crossing at 221.70 would confirm that a short-term top has been posted. If July renews the rally off March's low, the 50% retracement level of the January-March-decline crossing at 243.80 is the next upside target. First resistance is last-Thursday's high crossing at 239.50. Second resistance is the 50% retracement level of the January-March-decline crossing at 243.80. First support is the April 21st low crossing at 221.70. Second support is March's low crossing at 197.95. 

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

July Corn closed down $0.02 3/4-cents at 3.15 3/4. 

July corn closed lower on Monday. The high-range close sets the stage for a steady to higher opening when Tuesday's night sessions begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If July renews this year's decline, psychological support crossing at $3.00 is the next downside target. Closes above the 20-day moving average crossing at $3.25 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 3.25. Second resistance is the 38% retracement level of the January-March-decline crossing at $3.45 3/4. First support is April's low crossing at $3.09. Second support is psychological support crossing at $3.00.    

July wheat closed up $0.04 1/4-cents at $5.20 3/4.  

July wheat closed higher on Monday as it consolidated some of the decline off March's high. 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 a short-term low might be in or is near. Closes above the 20-day moving average crossing at $5.37 3/4 would signal that a short-term low has been posted. If July extends the decline off March's low, the 87% retracement level of March's rally crossing at $5.04 1/4. First resistance is April's high crossing at $5.64 1/2. Second resistance is March's high crossing at $5.71 1/2. First support is today's low crossing at $5.05 3/4. Second support is the 87% retracement level of March's rally crossing at $5.04 1/4.      

July Kansas City Wheat closed up $0.04-cents at $4.87.

July Kansas City wheat closed higher on Monday. The high-range close sets the stage for a steady to higher opening when Tuesday 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 $4.88 1/4 are needed to temper the near-term bearish outlook. Closes below the 50-day moving average crossing at $4.75 1/4 would confirm that a short-term top has been posted. If July resumes the rally off March's low, January's high crossing at $5.19 is the next upside target.First resistance is April's high crossing at $5.14. Second resistance is January's high crossing at $5.19. First support is the 50-day moving average crossing at $4.75 1/4. Second support is April's low crossing at $4.67 3/4.    

July Minneapolis wheat closed up $0.01 1/2-cents at $5.08 1/4. 

July 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends this year's decline, psychological support crossing at $5.00 is the next downside target. Closes above the 20-day moving average crossing at $5.22 1/4 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at $5.22 1/4. Second resistance is the 50-day moving average crossing at 5.29 1/4. First support is today's low crossing at $5.02. Second support is psychological support crossing at $5.00.       

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

July soybeans closed down $0.14-cents at $8.35 1/2.

July soybeans closed lower on Monday. 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. Closes above the 50-day moving average crossing at $8.67 1/2 are needed to confirm that a short-term low has been posted. If July resumes this year's decline, psychological support crossing at $8.00 is the next downside target. First resistance is last-Thursday's high crossing at $8.56. Second resistance is the 50-day moving average crossing at $8.67 1/2. First support is April's low crossing at $8.18 1/2. Second support is psychological support crossing at $8.00.      

July soybean meal closed down $4.30 at $288.20. 

July soybean meal closed lower on Monday. 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 July extends last-Thursday's rally, the 50-day moving average crossing at $303.00 is the next upside target. Closes above the 50-day moving average crossing at $303.00 are needed to confirm that a short-term low has been posted. If July resumes the decline off March's high, monthly support crossing at $283.10 is the next downside target. First resistance is last-Friday's high crossing at $295.80. Second is the 50-day moving average crossing at $303.00. First support is last-Wednesday's low crossing at $285.60. Second support is monthly support crossing at $283.10.      

July soybean oil closed down 34-pts. At 26.16. 

July soybean oil closed 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 neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 26.58 would temper the near-term bearish outlook. If July renews the decline off April's high, March's low crossing at 25.02 is the next downside target. First resistance is the 20-day moving average crossing at 26.58. Second resistance is the 50-day moving average crossing at 27.25. First support is last-Monday's low crossing at 25.09. Second support is March's low crossing at 25.02.        

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

June hogs closed up $2.80 at $65.50. 

June hogs gapped up and closed sharply higher on Monday as it extends the rally off April'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 June extends the aforementioned rally, the 50% retracement level of the 2019-2020-decline crossing at $68.55 is the next upside target. Closes below the 20-day moving average crossing at $51.12 would confirm that a short-term top has been posted. First resistance is the 50% retracement level of the 2019-2020 decline crossing at  $68.55. Second resistance is the 62% retracement level of the 2019-2020 decline crossing at  $74.93. First support is the 10-day moving average crossing at $55.33. Second support is the 20-day moving average crossing at $51.12.     

June cattle closed up $0.83 at $88.08. 

June cattle closed higher on Monday as it extends the rally off April's low. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends today's rally the 50-day moving average crossing at $90.97 is the next upside target. Closes below the 20-day moving average crossing at $84.59 would confirm that a short-term top has been posted. First resistance is today's high crossing at $89.73. Second resistance is the 50-day moving average crossing at $90.97. First support is April's low crossing at $76.60. Second support is monthly support crossing at $69.29.  

August Feeder cattle closed up $1.33-cents at $128.98. 

August Feeder cattle closed higher on Monday. The high-range close sets the stage for a steady to higher opening when Tuesday's session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at $129.45 would signal that a short-term low has been posted. Closes below the 20-day moving average crossing at $125.49 would temper the near-term friendly outlook. First resistance is the 50-day moving average crossing at $129.45. Second resistance is the March 25^th high crossing at $139.00. First support is April's low crossing at $110.03. Second support is monthly support crossing at $95.50.       

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

July coffee closed higher on Monday as it consolidates some of the decline off March's high. The mid-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 July extends the decline off March's high, March's low crossing at 10.31 is the next downside target. Closes above the 50-day moving average crossing at 11.47 would signal that a low has been posted. 

July cocoa closed lower on Monday. 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. Closes above the 50-day moving average crossing at 24.09 would open the door for a larger-degree rally into early-May. Closes below the 20-day moving average  crossing at 23.39 would temper the near-term friendly outlook.      

July sugar posted an inside day with a lower close on Monday as it consolidates some of last-week's rally. The low-range close set the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible. If July extends last- week's rally, the 50-day moving average crossing at 11.31 is the next upside target. If July renews the decline off February's high, monthly support crossing at 8.36 is the next downside target.         

July cotton closed lower on Monday and below the 20-day moving average crossing at 54.52 confirming that a short-term top has been posted. 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. If July extends the decline off last-Thursday's high, the April 21^st low crossing at 52.01 is the next downside target. Closes above last-Thursday's high crossing at 57.98 would open the door for additional gains near-term.