KEY EVENTS TO WATCH FOR:

Wednesday, March 10, 2021 

7:00 AM ET. MBA Weekly Mortgage Applications Survey

                       Composite Idx (previous 794.5)

                       Composite Idx, W/W% (previous +0.5%)

                       Purchase Idx-SA (previous 269.7)

                       Purchase Idx-SA, W/W% (previous +1.8%)

                       Refinance Idx (previous 3850.4)

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

8:30 AM ET. February Real Earnings

8:30 AM ET. February CPI

                       CPI, M/M% (previous +0.3%)

                       Core CPI, M/M% (previous +0%)

                       Energy Idx, M/M% (previous +3.5%)

                       Food Idx, M/M% (previous +0.1%)

                       Real Avg Wkly Pay-Infla Adj, M/M% (previous +0.8%)

                       CPI, Y/Y% (previous +1.4%)

                       Core Annual, Y/Y% (previous +1.4%)

10:00 AM ET. February Online Help Wanted Index

10:30 AM ET. EIA Weekly Petroleum Status Report

                       Crude Oil Stocks (Bbl) (previous 484.605M)

                       Crude Oil Stocks, Net Chg (Bbl) (previous +21.563M)

                       Gasoline Stocks (Bbl) (previous 243.472M)

                       Gasoline Stocks, Net Chg (Bbl) (previous -13.624M)

                       Distillate Stocks (Bbl) (previous 142.996M)

                       Distillate Stocks, Net Chg (Bbl) (previous -9.719M)

                       Refinery Usage (previous 56.0%)

                       Total Prod Supplied (Bbl/day) (previous 18.759M)

                       Total Prod Supplied, Net Chg (Bbl/day) (previous +0.071M)

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

Thursday, March 11, 2021 

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

                       Jobless Claims (previous 745K)

                       Jobless Claims, Net Chg (previous +9K)

                       Continuing Claims (previous 4295000)

                       Continuing Claims, Net Chg (previous -124K)

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

                       Corn (Metric Tons) (previous 154.5K)

                       Soybeans (Metric Tons) (previous 533.4K)

                       Wheat (Metric Tons) (previous 242.7K)

9:45 AM ET. Bloomberg Consumer Comfort Index

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

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

                       Working Gas In Storage (Cbf) (previous 1845B)

                       Working Gas In Storage, Net Chg (Cbf) (previous -98B)

4:30 PM ET. Federal Discount Window Borrowings

4:30 PM ET. Foreign Central Bank Holdings

  N/A              SEC Investor Advisory Committee Quarterly Meeting

Friday, March 12, 2021 

8:30 AM ET. February PPI

                       PPI, M/M% (previous +1.3%)

                       Ex-Food & Energy PPI, M/M% (previous +1.2%)

                       Personal Consumption (previous +1.3%)

10:00 AM ET. 4^th Quarter Quarterly Services

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

                       Mid-Mo Sentiment (previous 76.2)

                       Mid-Mo Expectations (previous 69.8)

                       Mid-Mo Current Idx (previous 86.2)

Monday, March 15, 2021 

8:30 AM ET. March Empire State Manufacturing Survey

                       Mfg Idx (previous 12.1)

                       Employment Idx (previous 12.1)

                       New Orders Idx (previous 10.8)

                       Prices Received (previous 23.4)

10:00 AM ET. January State Employment and Unemployment

4:00 PM ET. January Treasury International Capital Data

Tuesday, March 16, 2021 

7:45 AM ET. Weekly Chain Store Sales Index

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

                       Overall Sales-SA, M/M% (previous +5.3%)

                       Sales, Ex-Auto, M/M% (previous +5.9%)

                       Sales, Ex-Auto & Gas, M/M% (previous +6.1%)

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

                       Import Prices (previous +1.4%)

                       Non-Petroleum Prices (previous +0.9%)

                       Petroleum Prices (previous +8.3%)

8:55 AM ET. Johnson Redbook Retail Sales Index

                       Ret Sales Mo-to-Date, M/M%

                       Ret Sales Mo-to-Date, Y/Y%

                       Latest Wk, Y/Y%

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

                       Industrial Production, M/M% (previous +0.9%)

                       Capacity Utilization % (previous 75.6%)

                       Capacity Utilization, Net Chg (Pts) (previous +0.7)

10:00 AM ET. March NAHB Housing Market Index

                       Housing Mkt Idx (previous 84)

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

                       Total Inventories (previous +0.6%)

4:30 PM ET. API Weekly Statistical Bulletin

                       Crude Stocks, Net Chg (Bbls)

                       Gasoline Stocks, Net Chg (Bbls)

                       Distillate Stocks, Net Chg (Bbls)

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

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

The Dow closed higher on Tuesday as it posted another new all-time high. The low-range close sets the stage for a steady to slightly 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 the Dow extends the rally off January's low into uncharted territory, upside targets hard to project. Closes below last-Thursday's low crossing at 30,547.53 would confirm that a short-term top has been posted. First resistance is today's high crossing at 32,150.32. Second resistance is unknown. First support is last-Thursday's low crossing at 30,547.53. Second support is January's low crossing at 29,856.30. 

The June NASDAQ 100 closed sharply higher on Tuesday as it rebounds off last-Friday's low. 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 are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 13,201.55 would signal that a short-term low has been posted. If June extends the decline off February's high, the 25% retracement level of the 2020-2021-rally crossing at 12,146.81 is the next downside target. First resistance is the 10-day moving average crossing at 12,820.23. Second resistance is the 20-day moving average crossing at 13,201.55. First support is last-Friday's low crossing at 12,200.00. Second support is the 25% retracement level of the 2020-2021-rally crossing at 12,146.81.   

The June S&P 500 closed sharply higher on Tuesday and closed above the 20-day moving average crossing at 3866.64 signaling that a short-term low has been posted. The high-range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI have turning neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off last-Thursday's low, February's high crossing at 3947.75 is the next upside target. If June resumes the decline off February's high, February's low crossing at 3656.50 is the next downside target. First resistance is today's high crossing at 3891.50. Second resistance is February's high crossing at 3947.75. First support is last-Thursday's low crossing at 3710.50. Second support is February's low crossing at 3648.00.  

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

June T-bonds closed up 1-01/32's at 157-25. 

June T-bonds 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, diverging but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends the decline off November's high, the January-2020 low on the monthly continuation chart crossing at 155-05 is the next downside target. Closes above the 20-day moving average crossing at 160-26 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at 158-11. Second resistance is the 20-day moving average crossing at 160-26. First support is last-Friday's low crossing at 155-27. Second support is the January-2020 low on the monthly continuation chart crossing at 155-05.

June T-notes closed up 145-pts. At 132.105.

June T-notes closed higher on Tuesday as it consolidates some of the decline off last-September'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 June resumes the decline off the January 27^th high, the February-2020 low on the weekly continuation chart crossing at 130.070 is the next downside target. Closes above the 20-day moving average crossing at 133.287 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 132.258. Second resistance is the 20-day moving average crossing at 133.287. First support is last-Friday's low crossing at 131.235. Second support is the January 27^th high, the February-2020 low on the weekly continuation chart crossing at 130.070. 

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

April crude oil closed lower due to profit taking on Tuesday as it consolidates some of the rally off November's low.The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins. Stochastics and the RSI are overbought, diverging and are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below last-Wednesday's low crossing at $59.24 would signal that a short-term top has been posted. If April extends the rally off November's low, the October-2018 high on the monthly continuation chart crossing at $76.90 is the next upside target. First resistance is Monday's high crossing at $67.98. Second resistance is the October-2018 high on the monthly continuation chart crossing at $76.90.First support is last-Wednesday's low crossing at $59.24. Second support is the February 12^th low crossing at $57.31.  

April heating oil closed slightly lower on Tuesday following Monday's downside reversal as it consolidates some of the rally off November's low. The low-range close sets the stage for a steady to lower opening when Wednesday's night trading session begins. Stochastics and the RSI are overbought, diverging 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 $183.66 would confirm that a short-term top has been posted. If April extends the rally off November's low, the 75% retracement level of  the 2018-2020-decline crossing at $200.04 is the next upside target. First resistance is Monday's high crossing at $198.68. Second resistance is the the 75% retracement level of  the 2018-2020-decline crossing at $200.04. First support is the 20-day moving average crossing at $182.66. Second support is the February 12^th low crossing at $171.81.  

April unleaded gas closed slightly lower on Tuesday as it consolidates some of the rally off November'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 overbought, diverging and are turning neutral to bearish signaling sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at $192.33 would signal that a short-term top has been posted. If April extends the rally off November's low, the October-2018 high crossing at $221.41 is the next upside target. First resistance is Monday's high crossing at $211.19. Second resistance is the October-2018 high crossing at $221.41. First support is the 20-day moving average crossing at 192.33. Second support is the February 12^th low crossing at $175.76.    

April Henry natural gas closed slightly lower on Tuesday as it extends the decline off February's high. 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If April extends the decline off February's high, the 62% retracement level of the December-February-rally crossing at 2.596 is the next upside target. Closes above the 20-day moving average crossing at 2.836 would signal that a short-term low has been posted.First resistance is the 20-day moving average crossing at 2.836. Second resistance is February's high crossing at 3.060. First support is the 62% retracement level of the December-February rally crossing at 2.596. Second support is the 75% retracement level of the December-February rally crossing at 2.496. 

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

The June Dollar posted a downside reversal with today's lower close 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 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 June extends the rally off February's low, the 50% retracement level of the September-January-decline crossing at 93.43 is the next downside target. Closes below the 50-day moving average crossing 90.53 would signal that a short-term top has been posted. First resistance is the 38% retracement level of the September-January-decline crossing at 92.41. Second resistance is the 50% retracement level of the September-January-decline crossing at 93.43. First support is the 50-day moving average crossing 90.53. Second support is February's low crossing 89.66.   

The June Euro posted an upside reversal with today's higher close as it consolidated some of the decline off February'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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends the aforementioned decline, the 38% retracement level of the 2020-2021 rally crossing at 117.85 is the next downside target. Closes above the 50-day moving average crossing at 121.57 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at 121.57. Second resistance is February's high crossing at 122.71. First support is today's low crossing at 118.61. Second support is the 38% retracement level of the 2020-2021-rally crossing at 117.85. 

The June British Pound closed higher on Tuesday as it consolidated 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 becoming oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends the aforementioned decline, the 50-day moving average crossing at 1.3764 is the next downside target. Closes above the 10-day moving average crossing at 1.3946 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 1.3946. Second resistance is February's high crossing at 1.4245. First support is the 50-day moving average crossing at 1.3764. Second support is February's low crossing at 1.3586.

The June Swiss Franc posted a key reversal up on Tuesday as it consolidates some of the decline off January'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 June extends the decline off January's high, the 75% retracement level of the March-January-rally crossing at 1.0586 is the next downside target. Closes above the 20-day moving average crossing at 1.1059 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at 1.0908. Second resistance is the 20-day moving average crossing at 1.1059. First support is today's low crossing at 1.0695. Second support isthe 75% retracement level of the March-January-rally crossing at 1.0586.

The June Canadian Dollar closed slightly 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 signaling that sideways trading is possible near-term. Closes below the February 26^th low  crossing at 79.30 would confirm that a short-term top has been posted while opening the door for additional weakness near-term. If June resumes the rally off January's low, the 87% retracement level of the 2018-2020-decline crossing at 80.52 is the next upside target.First resistance is February's high crossing at 80.21. Second resistance is the 87% retracement level of the 2018-2020-decline crossing at 80.52. First support is the February 26^th low crossing at 79.30. Second support is the January 28^th low  crossing at 77.66. 

The June Japanese Yen posted an upside reversal on Tuesday as it consolidated some of the decline off January'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 June extends the decline off January's high, last-March's low crossing at 0.0911 is the next downside target. Multiple closes above the 20-day moving average crossing at 0.0942 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at 0.0933. Second resistance is the 20-day moving average crossing at 0.0942. First support is the 87% retracement level of the 2020-2021-rally crossing at 0.0920. Second support is last-March's low crossing at 0.0911.

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

April gold closed higher due to short covering on Tuesday as it consolidated some of the decline off January'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 April extends the decline off January's high, the 62% retracement level of the 2019-2020-rally crossing at $1634.70 is the next downside target. Closes above the 20-day moving average crossing at $1766.80 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at $1726.80. Second resistance is the 20-day moving average crossing at $1766.80. First support is the 62% retracement level of the 2019-2020-rally crossing at $1634.70. Second support is the 75% retracement level of the 2019-2020-rally crossing at $1533.30.

May silver closed higher 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 are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 26.906 would signal that a short-term low has been posted. If May extends the aforementioned decline, the 75% retracement level of the November-February-rally crossing at 24.059 is the next downside target. First resistance is the 20-day moving average crossing at 26.906. Second resistance is the February 23^rd high crossing at 28.470. First support is the 62% retracement level of the November-February-rally crossing at 25.111. Second support is the 75% retracement level of the November-February-rally crossing at 24.059. 

May copper closed 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 neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends the decline off February's high, the 50-day moving average crossing at 376.92 is the next downside target. If March renews the rally off March's low, the August-2011 high on the monthly continuation chart crossing at 454.00 is the next upside target. First resistance is the reaction high crossing at 422.75. Second resistance is February's high crossing at 437.55. First support is Thursday's low crossing at 384.90. Second support is the 50-day moving average crossing at 376.92.  

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

May Corn closed down $0.01 1/4-cents at $5.45 3/4. 

May corn closed lower on Tuesday following today's WASDE supply-demand report. While domestic data was basically unchanged from February, world carryout showed a modest increase triggering an initial sell off following the release of today's report. However, the high-range close sets the stage for a steady to slightly lower opening when Wednesday'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 February 23rd high crossing at $5.59 1/4 would signal that a short-term low has been posted. Closes below the 50-day moving average crossing at $5.27 would signal that a short-term top has been posted. First resistance is February's high crossing at $5.72. Second resistance is the 62% retracement level of the 2012-2019-decline crossing at $6.36. First support is the 25% retracement level of the August-January-rally crossing at $5.14. Second support is the January 25^th low crossing at $4.94 1/2.      

May wheat closed up $0.10-cents at $6.56 1/2.  

May wheat posted an inside day with a higher close on Tuesday following today's WASDE report that showed a reduction in this year's carryout. 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 May extends the decline off February's high, February's low crossing at $6.28  1/2 is the next downside target. Closes above the 10-day moving average crossing at $6.60 would signal that a short-term low has been posted. First resistance is February's high crossing at $6.88 1/2. Second resistance is January's high crossing at $6.93. First support is Monday's low crossing at $6.39 1/2. Second support is February's low crossing at $6.28 1/2.        

May Kansas City Wheat closed up $0.04-cents at $6.25 3/4.

May Kansas City wheat posted an inside day with a higher close on Tuesday but remain below the 50-day moving average crossing at $6.26 1/2. 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 May extends the decline off February's high, February's low crossing at $6.08 1/4 is the next downside target. Closes above the 20-day moving average crossing at $6.34 would signal that a short-term low has been posted. First resistance is February's high crossing at $6.64. Second resistance is the December-2014 high on the monthly continuation chart crossing at $7.05 3/4. First support is Monday's low crossing at $6.13. Second support is February's low crossing at $6.08 1/4.       

May Minneapolis wheat closed up $0.05 3/4-cents at $6.47 1/2. 

May Minneapolis wheat 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 turning neutral signaling that sideways trading is possible. If May renews the decline off February's high, the 50-day moving average crossing at $6.32 1/4 is the next downside target. If May renews the rally off January's low, January's high crossing at $6.62 is the next upside target. First resistance is February's high crossing at $6.58 3/4. Second resistance is January's high crossing at crossing at $6.62. First support is the 50-day moving average crossing at $6.32 1/4. Second support is February's low crossing at $6.19 3/4.     

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

May soybeans closed up $0.06 1/4-cents at $14.40.

May soybeans closed higher on Tuesday following today's neutral 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 diverging but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If May extends the rally off January's low, last-April's, the 75% retracement level of the 2012-2019-decline crossing at $15.39 1/2 on the monthly continuation chart is the next upside target. Closes below the 20-day moving average crossing at $13.98 3/4 would signal that a short-term top has been posted. First resistance is Monday's high crossing at $14.60. Second resistance is the 75% retracement level of the 2012-2019-decline crossing at $15.39 1/2 on the monthly continuation chart. First support is the 20-day moving average crossing at $13.98 3/4. Second support is the 50-day moving average crossing at $13.72.

May soybean meal closed up $0.30 to $416.60. 

May soybean meal closed slightly higher on Tuesday as it extends the trading range of the past seven-weeks. 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. Closes below January's low crossing at $413.40 would confirm a downside breakout of the aforementioned trading range while opening the door for additional weakness near-term. Closes above the 50-day moving average crossing at $429.00 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at $429.00. Second resistance is the February 9th high crossing at $442.10. First support is January's low crossing at $413.40. Second support is the 38% retracement level of the August-January rally crossing at $396.90.       

May soybean oil closed up 109 pts. at 53.55. 

May soybean oil closed higher on Tuesday as it extends the rally off last-April's low. 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If May extends the rally off October's low, the September-2012 high on  the monthly continuation chart crossing at 58.14 is the next upside target. Closes below the 20-day moving average crossing at 48.47 would confirm that a short-term top has been posted. First resistance is today's high crossing at 53.59. Second resistance is the September-2012 high on the monthly continuation chart crossing at 58.14. First support is the 10-day moving average crossing at 50.69. Second support is the 20-day moving average crossing at 48.47.      

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

April hogs closed up $1.05 at $88.35. 

April hogs 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. If April renews the rally off November's low, the 87% retracement level of the 2019-2020-decline on the weekly continuation chart crossing at $92.25 is the next upside target. Closes below the 20-day moving average crossing at $86.06 would signal that a short-term top has been posted. First resistance is February's high crossing at $90.68. Second resistance is the 87% retracement level of the 2019-2020-decline on the weekly continuation chart crossing at $92.25. First support is the 20-day moving average crossing at $86.06. Second support is the February 18^th low crossing at $83.62. 

April cattle closed up $0.3 at $119.65 

April cattle closed higher on Tuesday as it consolidated some of the decline off February's high. The high-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible. If April extends the decline off February's high, the 50% retracement level of the October-February-rally crossing at $117.72 is the next downside target. Closes above the 20-day moving average crossing at $122.70 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at $122.70. Second resistance is February's high crossing at $126.70. First support is last-Thursday's low crossing at $118.50. Second support is the 50% retracement level of the October-February-rally crossing at $117.72. 

April Feeder cattle closed up $2.40 at $142.08. 

April Feeder cattle closed sharply higher on Tuesday as it consolidated some of the decline off January's high. The high-range close sets the stage for a steady to higher opening when Wednesday's session begins trading. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 142.38 would confirm that a short-term low has been posted. If April resumes the decline off January's high, January's low crossing at $135.03 is the next downside target. First resistance is the 20-day moving average crossing at 142.38. Second resistance is February's high crossing at $145.80. First support last-Friday's low crossing at $137.22. Second support is January's low crossing at $135.03.          

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

May coffee posted a key reversal up on Tuesday as it consolidated some of the decline off February's high. The high-range close sets the stage for a steady to higher opening on Wednesday. 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 12.84 would open the door for a possible test of February's low crossing at 12.21. If Closes above the 10-day moving average crossing at 13.39 would signal that a short-term low has been posted.         

May cocoa closed higher on Tuesday as it consolidated some of the decline off last-Wednesday's high. The high-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends the decline off last-Wednesday's high, the 50-day moving average crossing at 24.94 is the next downside target. Closes above the 10-day moving average crossing at 25.96 would temper the near-term bearish outlook.          

May sugar closed lower on Tuesday as it extends the decline off February's high. The low-range close set the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends the decline off February's high, the 50-day moving average crossing at 15.56 is the next downside target. Closes above the 10-day moving average crossing at 16.40 would temper the near-term bearish outlook.     

May cotton closed limit down on Tuesday following today's bearish WASDE report. 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. Multiple closes above the 50-day moving average crossing at 84.60 would open the door for a possible test of February's low crossing at 81.06 is the next downside target. Closes above the 20-day moving average crossing at 89.35 would signal that a short-term low has been posted.