KEY EVENTS TO WATCH FOR:

Tuesday, May 12, 2020  

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

                       Small Business Idx (expected 85.0; previous 96.4)

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

                       Chain Store Sales, W/W% (previous -0.1%)

                       Chain Store Sales, M/M% (previous -19.4%)

8:30 AM ET. April Real Earnings

8:30 AM ET. April CPI

                       CPI, M/M% (expected -0.8%; previous -0.4%)

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

                       Energy Idx, M/M% (previous -5.8%)

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

                       Real Avg Wkly Pay-Infla Adj, M/M% (previous +0.2%)

                       CPI, Y/Y% (expected +0.3%; previous +1.5%)

                       Core Annual, Y/Y% (expected +1.7%; previous +2.1%)

8:55 AM ET. Johnson Redbook Retail Sales Index

                       Ret Sales Mo-to-Date, M/M% (previous -12.6%)

                       Ret Sales Mo-to-Date, Y/Y% (previous -6.6%)

                       Latest Wk, Y/Y% (previous -9.3%)

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

                       Corn, End Stocks (Bushels)

                       Soybeans, End Stocks (Bushels)

                       Wheat, End Stocks (Bushels)

                       Cotton, End Stocks (Bales)

2:00 PM ET. April Monthly Treasury Statement of Receipts & Outlays of the U.S. Govt

4:30 PM ET. API Weekly Statistical Bulletin

                       Crude Stocks, Net Chg (Bbls) (previous +8.4M)

                       Gasoline Stocks, Net Chg (Bbls) (previous -2.2M)

                       Distillate Stocks, Net Chg (Bbls) (previous +6.1M)

Wednesday, May 13, 2020 

7:00 AM ET. MBA Weekly Mortgage Applications Survey

                       Composite Idx (previous 744.2)

                       Composite Idx, W/W% (previous +0.1%)

                       Purchase Idx-SA (previous 220.0)

                       Purchase Idx-SA, W/W% (previous +5.8%)

                       Refinance Idx (previous 3835.7)

                       Refinance Idx, W/W% (previous -1.7%)

8:30 AM ET. April PPI

                       PPI, M/M% (expected -0.6%; previous -0.2%)

                       Ex-Food & Energy PPI, M/M% (expected -0.2%; previous +0.2%)

                       Personal Consumption (previous -0.2%)

10:00 AM ET. April Online Help Wanted Index

10:30 AM ET. EIA Weekly Petroleum Status Report

                       Crude Oil Stocks (Bbl) (previous 532.221M)

                       Crude Oil Stocks, Net Chg (Bbl) (previous +4.59M)

                       Gasoline Stocks (Bbl) (previous 256.407M)

                       Gasoline Stocks, Net Chg (Bbl) (previous -3.158M)

                       Distillate Stocks (Bbl) (previous 151.49M)

                       Distillate Stocks, Net Chg (Bbl) (previous +9.518M)

                       Refinery Usage (previous 70.5%)

                       Total Prod Supplied (Bbl/day) (previous 15.354M)

                       Total Prod Supplied, Net Chg (Bbl/day) (previous -0.409M)

Thursday, May 14, 2020 

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

                       Jobless Claims (expected 2600K; previous 3169K)

                       Jobless Claims, Net Chg (previous -677K)

                       Continuing Claims (previous 22647000)

                       Continuing Claims, Net Chg (previous +4636K)

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

                       Import Prices (expected -3.5%; previous -2.3%)

                       Non-Petroleum Prices (previous -0.1%)

                       Petroleum Prices (previous -27.4%)

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

                       Corn (Metric Tons) (previous 872.1K)

                       Soybeans (Metric Tons) (previous 830.6K)

                       Wheat (Metric Tons) (previous 380.1K)

9:45 AM ET. Bloomberg Consumer Comfort Index

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

                       Working Gas In Storage (Cbf) (previous 2319B)

                       Working Gas In Storage, Net Chg (Cbf) (previous +109B)

4:30 PM ET. Federal Discount Window Borrowings

4:30 PM ET. Foreign Central Bank Holdings

4:30 PM ET. Money Stock Measures

Friday, May 15, 2020 

8:30 AM ET. May Empire State Manufacturing Survey

                       Mfg Idx (expected -69.0; previous -78.2)

                       Employment Idx (previous -55.3)

                       New Orders Idx (previous -66.3)

                       Prices Received (previous -8.4)

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

                       Overall Sales-SA, M/M% (expected -13.5%; previous -8.7%)

                       Sales, Ex-Auto, M/M% (expected -9.2%; previous -4.5%)

                       Sales, Ex-Auto & Gas, M/M% (previous -3.1%)

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

                       Industrial Production, M/M% (expected -11.5%; previous -5.4%)

                       Capacity Utilization % (expected 62.5%; previous 72.7%)

                       Capacity Utilization, Net Chg (Pts) (expected -4.3)

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

                       Total Inventories (expected -0.3%; previous -0.4%)

10:00 AM ET. March Job Openings & Labor Turnover Survey

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

                       Mid-Mo Sentiment (expected 66.5; previous 71.0)

                       Mid-Mo Expectations (previous 70.0)

                       Mid-Mo Current Idx (previous 72.4)

4:00 PM ET March Treasury International Capital Data

  N/A              ISM Semiannual Report On Business & Economic Forecast

Monday, May 18, 2020  

10:00 AM ET. May NAHB Housing Market Index

                       Housing Mkt Idx (previous 30)

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

The Dow closed lower on Monday. The mid-range close that sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. 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. Closes below last-Monday's low crossing at 23,361.16 are needed to confirm that a short-term top has been posted. First resistance is April'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 last-Monday's low crossing at 23,361.16. Second support is April's low crossing at 20,735.02.  

The June NASDAQ 100 closed higher on Monday as it extends the rally off March 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 rally off March's low, the 87% retracement level of the February-March-decline crossing at 9384.61 is the next upside target. Closes below last-Monday's low crossing at 8556.25 would signal that a short-term top has been posted. First resistance is today's high crossing at 9323.00. Second resistance is the 87% retracement level of the January-March-decline crossing at 9384.61. First support is last-Monday's low crossing at 8556.25. Second support is the April 21^st low crossing at 8342.00.  

The June S&P 500 closed lower on Monday as it consolidates some of the rally off last-Monday's low. The mid-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If 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. Closes below last-Monday's low crossing at 2775.40 are needed to confirm that a short-term top has been posted. First resistance is April'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 last-Monday's low crossing at 2775.40. Second support is the 50-day moving average crossing at 2715.86.

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

June T-bonds closed down 25/32's at 178-29.  

June T-bonds closed lower on Monday while extending the April-May trading range.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 bearish signaling that sideways to lower prices are possible near-term. Closes below the April 14^th low crossing at 177-14 would confirm a downside breakout of the aforementioned trading range. Closes above the April 22nd high crossing at 183-02 are needed to confirm an upside breakout of the aforementioned trading range. 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 last-Wednesday's low crossing at 178-01. Second support is the April 14^th low crossing at 177-14. 

June T-notes closed down 60-points at 138.245.

June T-notes closed lower on Monday while extending the April-May trading range. 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 signaling that sideways trading is possible near-term. If June renews the rally off March's low, March's high crossing at 140.240 is the next upside target. Closes below the 50-day moving average crossing at 137.319 are needed to confirm that a short-term top has been posted. 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 50-day moving average crossing at 137.319. Second support is the April 7^th low crossing at 137.160.         

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

June crude oil closed slightly lower on Monday.The mid-range close sets the stage for a steady  opening when Tuesday's night session begins. 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 April's low, the 50-day moving average crossing at $27.08 is the next upside target. First resistance is the 50-day moving average crossing at $27.08. Second resistance is April's high crossing at $33.15. First support is the 20-day moving average crossing at $20.58. Second support is the April 28^th low crossing at $10.07. Third support is April's low crossing at $6.50.

June heating oil closed lower on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday's night trading session begins. Stochastics and the RSI are neutral to bullish signaling that a low might be in or is near. If June extends the rally off April's low, the 50-day moving average crossing at $103.33 is the next upside target. 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 last-Wednesday's high crossing at $91.99. Second resistance is the 50-day moving average crossing at $103.33. First support is April'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 lower on Monday as it consolidated some 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off April's low, the 38% retracement level of the January-March-decline crossing at 107.64. Closes below the 20-day moving average crossing at 78.60 would temper the near-term friendly outlook. First resistance is today's high crossing at 98.20. Second resistance is the 38% retracement level of the January-March-decline decline crossing at 107.64. First support is the 20-day moving average crossing at 78.60. Second support is April's low crossing at 52.51.  

June Henry natural gas closed higher on Monday as it consolidated some of the decline off last-Tuesday's high. The mid-range close sets the stage for a steady opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends the decline off last-Tuesday's high, the April 27^th low crossing at 1.765 is the next downside target. Closes above the 10-day moving average crossing at 1.924 is the next upside target.First resistance is the 50% retracement level of the 2019-2020 decline crossing at 2.154. Second resistance is the 62% retracement level of the 2019-2020 decline crossing at 2.273. First support is the April 27^th low crossing at 1.765. Second support is the April 14^th low crossing at 1.705. Third 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 extended 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 bullish signaling that sideways to higher prices are possible near-term. If June extends last-week's rally, the April 24^th high crossing at 100.98 is the next upside target. If June renews the decline off the April 24^th high, 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 last-Friday'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 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 signaling that sideways trading is possible near-term. If  June resumes the decline off the March 27^th high, April's low crossing at 107.39 is the next downside target. Closes above the 50-day moving average crossing at 109.81 are needed to confirm that a short-term low has been posted. First resistance is May'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 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 bearish signaling that sideways to lower prices are possible near-term. If June resumes the rally off last-Thursday's low, the 62% retracement level of the December-March-decline crossing at 1.2758 is the next upside target. If June renews the decline off the April-30^th high crossing at 1.2647, 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 1.0398 would confirm that a short-term low has been posted. If June extends the decline, April's low crossing at 1.0216 is the next downside target. 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 lower on Monday as it extended the April-May trading range.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 June renews the rally off March's low, the 50% retracement level of the January-March-decline crossing at 72.73 is the next upside target. If June renews the decline off the April 30^th high, the April 21^st low crossing at 70.12 is the next downside target. First resistance is the April 30^th high crossing at 72.21. 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 sharply lower on Monday and below the 50-day moving average crossing at 0.0932 confirming that a short-term top has been posted. The low-range close sets the stage for a steady to lower opening when Tuesday’s night session begins trading. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends today's decline, April's low crossing at 0.0916 is the next downside target. If June renews the rally off March's low, the September 2019 high crossing at 0.0951 is the next upside target. First resistance is long-term resistance crossing at 0.0942. Second resistance is the September 2019 high crossing at 0.0951. First support is the April 23^rd low crossing at 0.0926. Second support is April's low crossing at 0.0916. Third support is March's low crossing at 0.0900.  

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

June gold 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 turning neutral signaling that sideways trading is possible near-term. If April extends Thursday's rally, April's high crossing at $1788.80 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 the April 23^rd high crossing at $1764.00. Second resistance is April's high crossing at $1788.80. Third 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 $1662.20.

July silver closed lower on Monday while extending the April-May trading range. The mid-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 bullish signaling that sideways to higher prices are possible 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. Closes below the April 21st low crossing at 14.715 would confirm a downside breakout of the aforementioned trading range while opening the door for additional weakness near-term. 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 lower on Monday as it consolidated some of the rally off March'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 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, the 50% retracement level of the January-March-decline crossing at 243.80 is the next upside target. Closes below last Monday's low crossing at 228.40 are needed to confirm that a short-term top has been posted. First resistance is the 50% retracement level of the January-March-decline crossing at 243.80. Second resistance is the 62% retracement level of the January-March-decline crossing at 254.68. 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 $0.01 1/2-cents at 3.17 3/4. 

July corn closed lower on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday's night sessions 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 $3.20 1/2 are needed to confirm that a short-term low has been posted. If July renews this year's decline, psychological support crossing at $3.00 is the next downside target. First resistance is the 20-day moving average crossing at 3.20 1/2. Second resistance is the 25% retracement level of the January-March-decline crossing at $3.33. First support is April's low crossing at $3.09. Second support is psychological support crossing at $3.00.    

July wheat closed down $0.05 1/2-cents at $5.16 1/2.  

July wheat posted a key reversal down and 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 a short-term low might be in or is near. Closes above the 20-day moving average crossing at $5.29 1/2 would signal that a short-term low has been posted. If July renews the decline off March's low, the 87% retracement level of March's rally crossing at $5.04 1/4. First resistance is the 20-day moving average crossing at $5.29 1/2. Second resistance is the April 20-day high crossing at $5.61 1/2. First support is last-Monday'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 down $0.05-cents at $4.75.

July Kansas City wheat closed lower on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday 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 30^th low crossing at $4.69 3/4 would confirm that a short-term top has been posted while opening the door for additional weakness near-term. Closes above the 20-day moving average crossing at $4.85 3/4 are needed to temper the near-term bearish outlook. First resistance is April's high crossing at $5.14. Second resistance is January's high crossing at $5.19. First support is the April 30^th low crossing at $4.69 3/4. Second support is April's low crossing at $4.67 3/4.    

July Minneapolis wheat closed up $0.02 3/4-cents at $5.18 3/4. 

July Minneapolis wheat gapped up and closed above the 20-day moving average crossing at $5.15 3/4 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 $5.26 3/4 would open the door for a possible test of April's high crossing at $5.48 1/4. If July renews this year's decline, psychological support crossing at $5.00 is the next downside target. First resistance is the 50-day moving average crossing at $5.26 3/4. Second resistance is April's high crossing at 5.48 1/4. First support is last-Monday'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 up $0.03 3/4-cents at $8.54 1/4.

July soybeans 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 neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at $8.61 3/4 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 the 50-day moving average crossing at $8.61 3/4. Second resistance is the April 13^th high crossing at $8.77 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 $0.70 at $290.10. 

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 have turned neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the reaction high crossing at $295.80 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 the reaction high crossing at $295.80. Second is the 50-day moving average crossing at $301.50. First support is April's low crossing at $285.60. Second support is monthly support crossing at $283.10.      

July soybean oil closed down 3-pts. At 26.51. 

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 50-day moving average crossing at 26.90 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 50-day moving average crossing at 26.90. Second resistance is the 25% retracement level of the December-March-decline crossing at 27.84. First support is April'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 down $1.43 at $60.28. 

June hogs 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 turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at $54.54 would confirm that a short-term top has been posted. If June extends the rally, the 50% retracement level of the 2019-2020-decline crossing at $68.55 is the next upside target. 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 Monday's low crossing at $59.80. Second support is the 20-day moving average crossing at $54.54.     

June cattle closed down $1.98 at $92.68. 

June cattle closed 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 on Tuesday. Stochastics and the RSI are overbought and are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at $86.58 would confirm that a short-term top has been posted. If June extends the rally off April's low the 62% retracement level of the January-April-decline crossing at $103.37 is the next upside target. First resistance is the 50% retracement level of the January-April-decline crossing at $98.26. Second resistance is the 62% retracement level of the January-April-decline crossing at $103.37. First support is the 20-day moving average crossing at $86.58. Second support is the April 14^th low crossing at $80.27. Third support is April's low crossing at $76.60.   

August Feeder cattle closed down $4.28-cents at $132.68. 

August Feeder cattle closed sharply lower on Monday as it filled last Thursday's gap crossing at $132.75. The low-range close sets the stage for a steady to lower opening when Tuesday's session begins trading. Stochastics and the RSI are overbought and are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below last-Tuesday's low crossing at $125.30 would confirm that a short-term top has been posted. If August extends the rally off April's low, the 75% retracement level of the January-April-decline crossing at $144.91 is the next upside target. First resistance is the March 25^th high crossing at $139.00. Second resistance is the 75% retracement level of the January-April-decline crossing at $144.91. First support is last-Tuesday's low crossing at $125.30. Second support is the April 14^th low crossing at $121.35. Third support is April's low crossing at $110.03.       

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

July coffee posted an inside day with a lower close on Monday. 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. Closes above the 50-day moving average crossing at 11.46 would confirm that a low has been posted. If July resumes the decline off March's high, March's low crossing at 10.31 is the next downside target. 

July cocoa closed sharply higher on Monday as it extends the rally off March's low. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If July extends the aforementioned rally, the 50% retracement level of the February-March decline crossing at 25.68 is the next upside target. Closes below the 20-day moving average  crossing at 23.53 would temper the near-term friendly outlook.      

July sugar closed lower on Monday. The low-range close set the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If July renews the decline off February's high, monthly support crossing at 8.36 is the next downside target. If July resumes the rally off April's low, the 50-day moving average crossing at 10.91 is the next upside target.         

July cotton closed higher on Monday. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above April's high crossing at 57.98 would open the door for additional gains near-term. If July renews the decline off last-Thursday's high, the April 21^st low crossing at 52.01 is the next downside target.