The STOCK INDEXES: The June NASDAQ 100 was lower overnight.The high-range trade sets the stage for a steady to slightly lower opening when the day session begins trading. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below last-Friday's low crossing at 12,681.75 would signal that a short-term top has been posted. If June resumes the rally off March's low, February's high crossing at 13,888.00 is the next upside target. First resistance is the February 25^th high crossing at 13,337.50. Second resistance is February's high crossing at 13,888.00. First support is March's low crossing at 12,200.00. Second support is the 25% retracement level of the March-February-rally crossing at 12,146.81.

The June S&P 500 was lower overnight as it consolidates some of the rally off last-Thursday's low. The high-range overnight trade sets the stage for a steady to slightly lower opening when the day session begins trading later this morning.Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If June resumes the rally off last-September's low into uncharted territory, upside targets will be hard to project. Closes below the 50-day moving average crossing at 3863.18 would confirm that a short-term top has been posted. First resistance is the March 18^th high crossing at 3978.50. Second resistance is unknown.First support is the 50-day moving average crossing at 3863.18. Second support is March's low crossing at 3710.50.  

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

INTEREST RATES: June T-bonds were steady to slightly higher overnight. The mid-range overnight trade sets the stage for a steady to slightly higher opening when the day session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If June resumes the decline off last-September's high, the June-2019 low on monthly support crossing at 152-27 is the next downside target. Closes above last-Thursday's high crossing at 157-08 would signal that a short-term low has been posted. First resistance is last-Thursday's high crossing at 157-08. Second resistance is the February 26^th high crossing at 161-02. First support is March's low crossing at 153-07. Second support is the June-2019 low on the monthly continuation chart crossing at 152-27.

June T-notes were slightly higher overnight. The mid-range overnight trade sets the stage for a steady to higher opening with the day session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If June resumes this year's decline 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 132.036 are needed to signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 132.036. Second resistance is the March 2^nd high crossing at 133.230. First support is the March 18th low crossing at 131.000. Second support is the February-2020 low on the weekly continuation chart crossing at 130.070. 

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

May crude oil was steady to slightly higher overnight. The high-range overnight trade sets the stage for a steady to higher opening when the day 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 $62.66 would signal that a short-term low has been posted. Closes below last-Tuesday's low crossing at $57.25 would open the door for a possible test of the 38% retracement level of the November-March-rally crossing at $55.69. First resistance is the 20-day moving average crossing at $62.66. Second resistance is March's high crossing at $67.79. First support is last-Tuesday's low crossing at $57.25. Second support is the 38% retracement level of the November-March-rally crossing at $55.69.      

May heating oil was steady to slightly higher overnight as it extends the trading range of the past six-days. The high-range overnight trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI remain neutral signaling that sideways trading is possible near-term. If May renews the decline off March's high, the 38% retracement level of the November-March-rally crossing at $164.17 is the next downside target. Closes above the 20-day moving average crossing at $186.54 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at $186.54. Second resistance is March's high crossing at $198.30. First support is last-Tuesday's low crossing at $173.15. Second support is the 38% retracement level of the November-March-rally crossing at $164.17. 

May unleaded gas was higher overnight as it extends the rally off last-Tuesday's low. The high-range overnight trade sets the stage for a steady to higher opening when the day 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 $201.08 would signal that a short-term low has been posted. If May renews the decline off March's high, the 50-day moving average crossing at $187.24 is the next downside target. First resistance is the 20-day moving average crossing at $201.08. Second resistance is March's high crossing at $215.48. First support is the 50-day moving average crossing at $187.24. Second support is the 38% retracement of the November-March-rally crossing at $177.06. 

May Henry natural gas was steady to slightly lower overnight as it consolidates some of the rally off March's low. The low-range overnight trade sets the stage for a steady to lower opening when the day 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 2.652 would signal that a short-term low has been posted while opening the door for additional short covering gains. If April renews the decline off February's high, the 87% retracement level of the December-February-rally crossing at 2.445 is the next downside target. First resistance resistance is the 20-day moving average crossing at 2.652. Second resistance is the 50-day moving average crossing at 2.747. First support is the 87% retracement level of the December-February-rally crossing at 2.445. Second support is December's low crossing at 2.353.  

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

CURRENCIES:The June Dollar was slightly higher overnight. The mid-range overnight trade sets the stage for a steady to higher opening when the day 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 upside target. Closes below the 20-day moving average crossing at $91.93 would signal that a short-term top has been posted. First resistance is last-Thursday's high crossing at $92.94. Second resistance is the 50% retracement level of the 2020-2021-decline crossing at $93.43. First support is the 10-day moving average crossing at $92.22. Second support is the 20-day moving average crossing at $91.93.

The June Euro was lower overnight as it extends the decline off January's high. The low-range overnight trade sets the stage for a steady to lower opening when the day 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 February's high, November's low crossing at $116.93 is the next downside target. Closes above the 20-day moving average crossing at $119.34 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $118.87. Second resistance is the 20-day moving average crossing at $119.34. First support is the 38% retracement level of the November-January-rally crossing at $117.85. Second support is the November's low crossing at $116.93.

The June British Pound was higher due to short covering overnight as it consolidates some of the decline off February's high. The high-range overnight trade sets the stage for a steady to higher opening when the day session beings 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 1.3876 would confirm that a short-term low has been posted. If June resumes the decline off February's high, the 50% retracement level of the September-February rally crossing at 1.3494 is the next downside target. First resistance is the reaction high crossing at 1.4009. Second resistance is February's high crossing at 1.4245. First support is the 38% retracement level of the September-February rally crossing at 1.3672. Second support is the 50% retracement level of the September-February rally crossing at 1.3494.  

The June Swiss Franc was lower overnight and remains poised to extend the decline off January's high. The low-range overnight trade sets the stage for a steady to lower opening when the day 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 January's high, the 75% retracement level of the 2020-2021-rally crossing at 1.0586 is the next downside target. Closes above the 20-day moving average crossing at 1.0789 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 1.0789. Second resistance is the 50-day moving average crossing at 1.1039. First support is last-Friday's low crossing at 1.0641. Second support is the 75% retracement level of the 2020-2021-rally crossing at 1.0586.

The June Canadian Dollar was higher overnight. The high-range trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends the decline off March's high, the 50-day moving average crossing at $79.07 would signal that a short-term top has been posted. Closes above the 10-day moving average crossing at $79.82 would signal that a short-term low has been posted. First resistance is March's high crossing at $80.88. Second resistance is the February-2018 high crossing at $82.27. First support is the 50-day moving average crossing at $79.07. Second support is the February 26^th low crossing at $78.42.  

The June Japanese Yen was higher overnight as it consolidated some of last-Friday's decline to a new for the year. The mid-range overnight trade sets the stage for a steady to higher opening when the day 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 January's high, the February-2020 low on the monthly continuation chart crossing at 0.0892 is the next downside target. Closes above the 20-day moving average crossing at 0.0921 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 0.0921. Second resistance is March's high crossing at 0.0941. First support is last-Friday's low crossing at 0.0911. Second support is the February-2020 low on the monthly continuation chart crossing at 0.0892.

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

PRECIOUS METALS: June gold was lower overnight. The low-range overnight trade sets the stage for a steady to lower opening when the day 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 March 18^th low crossing at $1719.10 would signal that a short-term top has been posted. Closes above the March 18^th high crossing at $1756.00 would open the door for additional short covering gains near-term. First resistance is the March 18th high crossing at $1756.00. Second resistance is 50-day moving average crossing at $1783.50. First support is March's low crossing at $1676.20. Second support is the 50% retracement level of the 2015-2020-rally crossing at $1617.40.

May silver was lower overnight. The low-range overnight trade sets the stage for a steady to lower opening when the day session begins trading later this morning. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends the decline off January's high, the 75% retracement level of the November-February-rally crossing at $24.059 is the next downside target. Closes above the 50-day moving average crossing at $26.389 would confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at $26.389. Second resistance is the February 23rd high crossing at $28.470. First support is last-Thursday's low  crossing at $24.435. Second support is the 75% retracement level of the November-February-rally crossing at $24.059.  

May copper was lower in overnight trading as it extends the trading range of the past three-weeks. The mid-range overnight trade sets the stage for a steady to lower opening when the day 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 3.9040 would confirm that a short-term top has been posted while opening the door for additional weakness near-term. If May renews the rally off March's low, February's high crossing at 4.3755 is the next upside target. First resistance is February's high crossing at 4.3755. Second resistance is the August-2011 high on the monthly continuation chart crossing at 4.5400. First support is the 50-day moving average crossing at 3.9040. Second support is the 25% retracement level of the 2020-2021-rally crossing at 3.8134.  

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

May corn was lower overnight as it extends a two-month old trading range. Light pressure overnight came from recent rains that have moved across portions of the Plains and Midwest. However, dry weather concerns in Brazil have helped to limit overnight losses. Trading will remain choppy ahead of this week's quarterly grain stocks and acreage report. The low-range close sets the stage for a steady to lower opening when the day sessions 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 $5.43 would open the door for a test of the February 11th low crossing at $5.23 1/4. If May renews the rally off March's low, February's high crossing at $5.72 is the next upside target. First resistance is February's high crossing at $5.72. Second resistance is psychological resistance crossing at $6.00. First support is March's low crossing at $5.29 1/4. Second support is the the 25% retracement level of the August-February-rally crossing at $5.14.      

May wheat was steady to fractionally lower overnight. The mid-range close sets the stage for a steady to lower opening when the day 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 May extends the decline off February's high, the 50% retracement level of the 2020-2021-rally crossing at $5.93 1/2 is the next downside target. Closes above the 20-day moving average crossing at $6.38 3/4 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at $6.38 3/4. Second resistance is the 50-day moving average crossing at $6.49 3/4. First support is last-Friday's low crossing at $6.08 1/4. Second support is the 50% retracement level of the 2020-2021-rally crossing at $5.93 1/2.

May Kansas City wheat was lower overnight as it extends the decline off February's high. The low-range close sets the stage for a steady to lower opening when the day 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 May extends the decline off February's high, the 50% retracement level of the August-March-rally crossing at $5.52 3/4 is the next downside target. Closes above the 20-day moving average crossing at $6.00 1/4 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $5.81 3/4. Second resistance is the 20-day moving average crossing at $6.00 1/4. First support is last-Friday's low crossing at $5.62 1/4. Second support is the 50% retracement level of the August-March-rally crossing at $5.52 3/4.

May Minneapolis wheat was steady to higher overnight as it consolidates some of the decline off March's high. The high-range close sets the stage for a steady to higher opening when the day 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 May extends the decline off February's high, the 50% retracement level of the December-January-rally crossing at $6.06 3/4 is the next downside target. Closes above the 50-day moving average crossing at $6.36 3/4 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at $6.25 1/4. Second resistance is the 50-day moving average crossing at $6.36 3/4. First support is last-Friday's low crossing at $6.13. Second support is the 50% retracement level of the December-January-rally crossing at $6.06 3/4.       

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

May soybeans were lower overnight.The low-range close sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at $13.92 1/4 would signal that a short-term top has been posted while opening the door for additional weakness near-term. If May renews the rally off last-April's low, March's high crossing at $14.60 is the next upside target. First resistance is March's high crossing at $14.60. Second resistance is psychological resistance crossing at $15.00. First support is the 50-day moving average crossing at $13.92 1/4. Second support is the February 11^th low crossing at $13.36 3/4.

May soybean meal was lower overnight as it extends the trading range of the past two-weeks above the 38% retracement level of the August-January rally crossing at $396.90. The low-range close sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are turning neutral to bullish signaling sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at $407.50 would signal that a short-term low has been posted. If May resumes the decline off January's high, the 50% retracement level of August-January rally crossing at $376.30 is the next downside target. First resistance is the 20-day moving average crossing at $407.50. Second resistance is the 50-day moving average crossing at $420.80. First support is the 38% retracement level of the August-January rally crossing at $396.90. Second support is the 50% retracement level of August-January rally crossing at $376.30.      

May soybean oil was slightly higher overnight as it consolidated some of last-week's sharp decline. The high-range overnight trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends last-week's decline, the 50-day moving average crossing at 48.53 is the next downside target. If May renews the rally off October's low, the 75% retracement level of the 2008-2020 decline on the monthly continuation chart crossing at 59.60 is the next upside target. First resistance is last-Tuesday's high crossing at 58.25. Second resistance is the 75% retracement level of the 2008-2020 decline on the monthly continuation chart crossing at 59.60. First support is March's low crossing at 48.62. Second support is the 50-day moving average crossing at 48.53.