KEY EVENTS TO WATCH FOR:

Tuesday, April 27, 2021   

7:45 AM ET. Weekly Chain Store Sales Index

8:55 AM ET. Johnson Redbook Retail Sales Index

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

                       Ret Sales Mo-to-Date, Y/Y% (previous +13.4%)

                       Latest Wk, Y/Y% (previous +13.5%)

9:00 AM ET. February U.S. Monthly House Price Index

9:00 AM ET. February S&P CoreLogic Case-Shiller Indices

                       10-City Idx, M/M% (previous +0.8%)

                       10-City Idx, Y/Y% (previous +10.9%)

                       20-City Idx, M/M% (previous +0.9%)

                       20-City Idx, Y/Y% (previous +11.1%)

                       National Idx, M/M% (previous +0.8%)

                       National Idx, Y/Y% (previous +11.2%)

10:00 AM ET. April Richmond Fed Business Activity Survey

                       Mfg Idx (previous 17)

                       Shipments Idx (previous 22)

10:00 AM ET. April Consumer Confidence Index

                       Cons Conf Idx (previous 109.7)

                       Expectation Idx (previous 109.6)

                       Present Situation Idx (previous 110)

10:00 AM ET. 1^st Quarter U.S. Housing Vacancies

1:00 AM ET. March Money Stock Measures

4:30 PM ET. API Weekly Statistical Bulletin

                       Crude Stocks, Net Chg (Bbls) (previous +0.4M)

                       Gasoline Stocks, Net Chg (Bbls) (previous -1.6M)

                       Distillate Stocks, Net Chg (Bbls) (previous +0.7M)

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

Wednesday, April 28, 2021  

7:00 AM ET. MBA Weekly Mortgage Applications Survey

                       Composite Idx (previous 724.8)

                       Composite Idx, W/W% (previous +8.6%)

                       Purchase Idx-SA (previous 295.5)

                       Purchase Idx-SA, W/W% (previous +5.7%)

                       Refinance Idx (previous 3219.9)

                       Refinance Idx, W/W% (previous +3.4%)

8:30 AM ET. March Advance Economic Indicators Report

10:00 AM ET. March Metropolitan Area Employment & Unemployment

10:30 AM ET. EIA Weekly Petroleum Status Report

                       Crude Oil Stocks (Bbl) (previous 493.017M)

                       Crude Oil Stocks, Net Chg (Bbl) (previous +0.594M)

                       Gasoline Stocks (Bbl) (previous 234.982M)

                       Gasoline Stocks, Net Chg (Bbl) (previous +0.085M)

                       Distillate Stocks (Bbl) (previous 142.391M)

                       Distillate Stocks, Net Chg (Bbl) (previous -1.073M)

                       Refinery Usage (previous 85.0%)

                       Total Prod Supplied (Bbl/day) (previous 18.762M)

                       Total Prod Supplied, Net Chg (Bbl/day) (previous -1.566M)

2:00 PM ET. U.S. interest rate decision

                       Federal Funds Rate

                       Federal Funds Rate Change (Pts)

                       Fed Funds Rate-Range High (previous 0.25)

                       Fed Funds Rate-Range Low (previous 0.00)

                       FOMC Vote For Action (previous 11)

                       FOMC Vote Against Action (previous 0)

                       Discount Rate (previous 0.25)

                       Discount Rate Change (Pts) (previous +0)

                       Discount Rate-Range High

                       Discount Rate-Range Low

  N/A               U.S. President Joe Biden address to Joint Session of Congress

Thursday, April 29, 2021  

8:30 AM ET. 1^st Quarter Advance estimate GDP

                       Annual Rate, Q/Q% (previous +4.3%)

                       Chain-Weighted Price Idx, Q/Q% (previous +2.0%)

                       PCE Price Idx, Q/Q% (previous +1.5%)

                       Purchase Price Idx, Q/Q% (previous +1.7%)

                       Real Final Sales 1st Est, Q/Q% (previous +2.9%)

                       Core PCE Price Idx, Q/Q% (previous +1.3%)

                       Personal Consumption, Q/Q% (previous +2.3%)

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

                       Jobless Claims (previous 547K)

                       Jobless Claims, Net Chg (previous -39K)

                       Continuing Claims (previous 3674000)

                       Continuing Claims, Net Chg (previous -34K)

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

                       Corn (Metric Tons) (previous 417K)

                       Soybeans (Metric Tons) (previous 379.7K)

                       Wheat (Metric Tons) (previous 614K)

9:45 AM ET. Bloomberg Consumer Comfort Index

10:00 AM ET. March Pending Home Sales Index

                       Pending Home Sales (previous 110.3)

                       Pending Home Sales Idx, M/M% (previous -10.6%)

                       Pending Home Sales Idx , Y/Y% (previous -0.5%)

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

                       Working Gas In Storage (Cbf) (previous 1883B)

                       Working Gas In Storage, Net Chg (Cbf) (previous +38B)

4:30 PM ET. Foreign Central Bank Holdings

4:30 PM ET. Federal Discount Window Borrowings

Friday, April 30, 2021  

8:30 AM ET. March Personal Income & Outlays

                       Personal Income, M/M% (previous -7.1%)

                       Consumer Spending, M/M% (previous -1.0%)

                       PCE Price Idx, M/M% (previous +0.2%)

                       PCE Price Idx, Y/Y% (previous +1.6%)

                       PCE Core Price Idx, M/M% (previous +0.1%)

                       PCE Core Price Idx, Y/Y% (previous +1.4%)

8:30 AM ET. 1^st Quarter Employment Cost Index

                       ECI, Q/Q% (previous +0.7%)

                       ECI, Y/Y% (previous +2.5%)

9:45 AM ET. April Chicago Business Barometer - ISM-Chicago Business Survey - Chicago PMI

                       PMI-Adj (previous 66.3)

10:00 AM ET. April University of Michigan Survey of Consumers – final

                       End-Mo Sentiment Idx (previous 84.9)

                       End-Mo Expectations Idx (previous 79.7)

                       12-Month Inflation Forecast (previous 3.1%)

                       5-Year Inflation Forecast (previous 2.8%)

                       End-Mo Current Idx (previous 93.0)

3:00 PM ET. March Agricultural Prices

                       Farm Prices, M/M% (previous +6.3%)

  N/A               Foreign portfolio holdings of U.S. securities final results

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

The STOCK INDEXES: The June NASDAQ 100 was higher overnight as it extends the trading range of the past two-weeks. The mid-range 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 renews the rally off March's low into uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average crossing at 13,728.86 would signal that a short-term top has been posted. First resistance is the April 16^th high crossing at 14,059.50. Second resistance is unknown. First support is the 20-day moving average crossing at 13,728.86. Second support is the 50-day moving average crossing at 13,300.90.  

The June S&P 500 was steady to slightly higher overnight as it extends the rally off last-September's low. The mid-range overnight trade sets the stage for a steady to slightly higher opening when the day session begins trading later this morning. 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 last-September's low into uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average crossing at 4107.75 would signal that a short-term top has been posted. First resistance is the overnight high crossing at 4192.50. Second resistance is unknown.First support is the 20-day moving average crossing at 4107.75. Second support is the 50-day moving average crossing at 3976.30.  

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

INTEREST RATES: June T-bonds were steady to slightly lower overnight. The low-range overnight trade sets the stage for a steady to slightly lower opening when the day session begins trading. Stochastics and the RSI are diverging and turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 157-04 would signal that a short-term top has been posted. If June extends the rally off March's low, the 25% retracement level of the 2020-2021-decline crossing at 159-19 is the next upside target. First resistance is the 25% retracement level of the 2020-2021-decline crossing at 159-19. Second resistance is the 38% retracement level of the 2020-2021-decline crossing at 162-31. First support is the 20-day moving average crossing at 157-04. Second support is March's low crossing at 153-07.

June T-notes were steady to slightly lower overnight. The low-range overnight trade sets the stage for a steady to lower 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. Closes below the 20-day moving average crossing at 131.309 would signal that a short-term top has been posted. If June extends the rally off March's low, the 25% retracement level of the 2020-2021-decline crossing at 133.001 is the next upside target. First resistance is the 25% retracement level of the 2020-2021-decline crossing at 133.001. Second resistance is March's high crossing at 133.230. First support is the 20-day moving average crossing at 131.309. Second support is the April 5^th low crossing at 130.255. 

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

June crude oil 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 neutral signaling that sideways trading is possible near-term. Closes below the 20-day moving average crossing at $61.16 would signal that a short-term top has been posted. If June renews the rally off March's low, March's high crossing at $67.29 is the next upside target. First resistance is last-Tuesday's high crossing at $64.38. Second resistance is March's high crossing at $67.29. First support is the 20-day moving average crossing at $61.16. Second support is the March 23^rd low crossing at $57.29.

June heating oil was higher overnight as it extends Monday's rally. 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 neutral to bullish signaling that sideways to higher prices are possible near-term. If June renews the rally off March's low, March's high crossing at $1.9778 is the next upside target. Closes below the 20-day moving average crossing at $1.8437 would signal that a short-term top has been posted. First resistance is last-Tuesday's high crossing at $1.9174. Second resistance is March's high crossing at $1.9778. First support is the 20-day moving average crossing at $1.8437. Second support is the March 23^rd low crossing at $1.7344.

June unleaded gas was 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 neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at $1.9769 would signal that a short-term top has been posted. If June renews the rally off March's low, March's high crossing at $2.1280 is the next upside target. First resistance is last-Tuesday's high crossing at $2.0742. Second resistance is March's high crossing at $2.1280. First support is the 50-day moving average crossing at $1.9769. Second support is the March 23^rd low crossing at $1.8618.

June Henry natural gas was slightly higher overnight as it extends the rally off April'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 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 75% retracement level of the February-March-decline crossing at 2.943 is the next upside target. Closes below the 20-day moving average crossing at 2.714 would signal that a short-term top has been posted. First resistance resistance is the overnight high crossing at 2.893. Second resistance is the 75% retracement level of the February-March-decline crossing at 2.943. First support is the 10-day moving average crossing at 2.798. Second support is the 20-day moving average crossing at 2.715.  

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

CURRENCIES:The June Dollar was slightly higher in late-overnight trading as it consolidates some of the decline off March's high. The low-range overnight trade sets the stage for a steady to slightly 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 June extends the aforementioned decline, the March low crossing at $90.62 is the next downside target. Closes above the 20-day moving average crossing at $91.88 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $91.20. Second resistance is the 50-day moving average crossing at $91.62. First support is March's low crossing at $90.62. Second support is February's low crossing at $89.66.

The June Euro was steady to slightly lower overnight as it consolidates some of the rally off March's low. The high-range overnight trade sets the stage for a steady to slightly lower 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 March's low, March's high crossing at $121.40 is the next upside target. Closes below the 20-day moving average crossing at $119.51 would signal that a short-term top has been posted. First resistance is March's high crossing at $121.40. Second resistance is February's high crossing at $122.71. First support is the 10-day moving average crossing at $120.43. Second support is the 20-day moving average crossing at $119.51.

The June British Pound was steady to slightly higher overnight as it extends the March-April trading range. The high-range overnight trade sets the stage for a steady to higher opening when the day session beings trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes below the 20-day moving average crossing at 1.3828 would signal that a short-term top has been posted. If June resumes the rally off April's low, February's high crossing at 1.4245 is the next upside target. First resistance is last-Tuesday's high crossing at 1.4012. Second resistance is February's high crossing at 1.4245. First support is the 20-day moving average crossing at 1.3828. Second support is the 38% retracement level of the September-February rally crossing at 1.3672.

The June Swiss Franc was steady to slightly higher overnight. The high-range overnight trade sets the stage for a steady to slightly 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 April's low, the 50% retracement level of the January-April-decline crossing at 1.1014 is the next upside target. Closes below the 20-day moving average crossing at 1.0834 would signal that a short-term top has been posted. First resistance is Monday's high crossing at 1.0978. Second resistance is the 50% retracement level of the January-April-decline crossing at 1.1117. First support is the 10-day moving average crossing at 1.0918. Second support is the 20-day moving average crossing at 1.0834.

The June Canadian Dollar was steady to slightly higher overnight as it extends the rally off last-Wednesday's low. The mid-range trade sets the stage for a steady to slightly higher opening when the day 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. If June extends the rally off last-Wednesday's low, March's high crossing at $80.88 is the next upside target. Closes below last-Wednesday's low crossing at $79.06 would open the door for a possible test of the February 26^th low crossing at $78.42. First resistance is Monday's high crossing at $80.40. Second resistance is March's high crossing at $80.88. First support is last-Wednesday's low crossing at $79.06. Second support is the February 26^th low crossing at $78.42.  

The June Japanese Yen was steady to slightly lower overnight as it consolidates some of the rally off March's low. 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 turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 0.0917 would signal 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 0.0939 is the next upside target. First resistance is the 38% retracement level of the January-March-decline crossing at 0.0930. Second resistance is the 50% retracement level of the January-March-decline crossing at 0.0939. First support is the 10-day moving average crossing at 0.0924. Second support is the 20-day moving average crossing at 0.0917.  

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

PRECIOUS METALS: June gold was steady to slightly higher in overnight trading. 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 overbought and are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at $1753.70 would signal that a short-term top has been posted. If June extends the rally off March's low, the February 23^rd high crossing at $1817.60 is the next upside target. First resistance is the February 23^rd high crossing at $1817.60. Second resistance is the 38% retracement level of August-April-decline crossing at $1841.30. First support is the 10-day moving average crossing at $1774.80. Second support is the 20-day moving average crossing at $1753.70.

May silver 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 later this morning. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If May extends the rally off March's low, the 50% retracement level of the January-March-decline crossing at $26.902 is the next upside target. Closes below the 20-day moving average crossing at $25.535 would signal that a short-term top has been posted. First resistance is the 50% retracement level of the January-March-decline crossing at $26.902. Second resistance is the 62% retracement level of the January-March-decline crossing at $27.649. First support is the 10-day moving average crossing at $25.063. Second support is the 20-day moving average crossing at $25.535. 

May copper was higher in overnight trading as it extends the rally off last-March's low. The high-range overnight trade sets the stage for a 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 May extends the aforementioned rally, the August-2011 high on the monthly continuation chart crossing at 4.5400 is the next upside target. Closes below the 50-day moving average crossing at 4.1150 would signal that a short-term top has been posted while opening the door for additional weakness near-term. First resistance is the overnight high crossing at 4.5170. Second resistance is the August-2011 high on the monthly continuation chart crossing at 4.5400. First support is the 10-day moving average crossing at 4.2793. Second support is the 20-day moving average crossing at 4.1625.  

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

July corn was sharply higher overnight as it extends the rally off March's low. The high-range close sets the stage for a steady to higher opening when the day sessions 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 this year's rally, psychological resistance crossing at $7.00 is the next upside target. Closes below the 20-day moving average crossing at $5.79 3/4 would signal that a short-term top has been posted. First resistance is the overnight high crossing at $6.84. Second resistance is psychological resistance crossing at $7.00. First support is the 10-day moving average crossing at $6.10 1/2. Second support is the 20-day moving average crossing at $5.79 3/4.        

July wheat was higher overnight as it extends the rally off March's low. The high-range close 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 July extends the aforementioned rally, psychological resistance crossing at $8.00 is the next upside target. Closes below the 20-day moving average crossing at $6.53 3/4 would signal that a short-term top has likely been posted. First resistance is the overnight high crossing at $7.69 1/2. Second resistance is psychological resistance crossing at $8.00. First support is the 10-day moving average crossing at $6.87 1/4. Second support is the 20-day moving average crossing at $6.53 3/4. 

July Kansas City wheat was sharply higher overnight as it extends the rally off March's low. The high-range close 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 July extends the rally off March's low, the 38% retracement level of the 2008-2019-decline on the monthly continuation chart crossing at $7.64 1/4 is the next upside target. Closes below the 20-day moving average crossing at $6.15 1/4 would signal that a short-term top has been posted. First resistance is the overnight high crossing at $7.41 1/4. Second resistance is the 38% retracement level of the 2008-2019-decline on the monthly continuation chart crossing at $7.64 1/4. First support is the 10-day moving average crossing at $6.52 3/4. Second support is the 20-day moving average crossing at $6.15 1/4.

July Minneapolis wheat was higher overnight as it extends the rally off April's low. The high-range close sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are overbought but remain bullish signaling that sideways to higher prices are possible near-term. If July extends this month's rally, the 87% retracement level of the 2017-2019-decline crossing at $8.18 1/2 is the next upside target. Closes below the 20-day moving average crossing at $6.66 1/4 would signal that a short-term top has been posted. First resistance is the overnight high crossing at $7.73 3/4. Second resistance is the 87% retracement level of the 2017-2019-decline crossing at $8.18 1/2. First support is the 10-day moving average crossing at $7.00 1/4. Second support is the 20-day moving average crossing at $6.66 1/4. 

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

July soybeans were higher overnight and trading above the 75% retracement level of the 2012-2019-decline on the monthly continuation chart crossing at $15.39 1/2 as it extends the rally off last-April's low.The high-range close 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 July extends this year's rally, the 87% retracement level of the 2012-2019-decline crossing at $16.59 1/4 is the next upside target. Closes below the 20-day moving average crossing at $14.35 3/4 would signal that a short-term top has been posted. First resistance is the  overnight high crossing at $15.74 3/4. Second resistance is the 87% retracement level of the 2012-2019-decline crossing at $16.59 1/4. First support is the 10-day moving average crossing at $14.74 1/2. Second support is the 20-day moving average crossing at $14.35 3/4.  

July soybean meal were higher overnight as it extends the rally off April's low. The high-range close sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are overbought but remain bullish signaling sideways to higher prices are possible near-term. If July extends the rally off April's low, April's high crossing at $433.60 is the next upside target. Closes below the 20-day moving average crossing at $413.10 would signal that a short-term top has been posted while opening the door for a possible test of  the 38% retracement level of the August-January rally crossing at $393.40. First resistance is the April 1^st high crossing at $433.60. Second resistance is the February 9^th high crossing at $437.00. First support is the 38% retracement level of the August-January rally crossing at $393.40. Second support is the 50% retracement level of August-January rally crossing at $373.40.      

July soybean oil was sharply higher overnight as it extends this year's rally to a new contract high. 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If July extends this year's rally, weekly resistance crossing at 65.20 is the next upside target. Closes below the 20-day moving average crossing at 53.70 would signal that a short-term top has been posted. First resistance is the overnight high crossing at 63.39. Second resistance is weekly resistance crossing at 65.20. First support is the 10-day moving average crossing at 56.72. Second support is the 20-day moving average crossing at 53.70.