KEY EVENTS TO WATCH FOR:

Tuesday, May 4, 2021 

7:45 AM ET. Weekly Chain Store Sales Index

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

                       Trade Balance (USD) (previous -71.08B)

                       Exports (USD) (previous 187.3B)

                       Exports, M/M% (previous -2.6%)

                       Imports (USD) (previous 258.3B)

                       Imports, M/M% (previous -0.7%)

8:55 AM ET. Johnson Redbook Retail Sales Index

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

                       Ret Sales Mo-to-Date, Y/Y% (previous +13.5%)

                       Latest Wk, Y/Y% (previous +13.9%)

9:45 AM ET. April ISM-NY Report on Business

                       Business Index (previous 37.2)

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

                       Economic Optimism Idx (previous 56.4)

                       6-Mo Economic Outlook (previous 55.9)

10:00 AM ET. March Manufacturers' Shipments, Inventories & Orders (M3)

                       Total Orders, M/M% (previous -0.8%)

                       Orders, Ex-Defense, M/M% (previous -0.6%)

                       Orders, Ex-Transport, M/M% (previous -0.6%)

                       Durable Goods, M/M%

                       Durable Goods, M/M%

4:30 AM ET. API Weekly Statistical Bulletin

                       Crude Stocks, Net Chg (Bbls) (previous +4.3M)

                       Gasoline Stocks, Net Chg (Bbls) (previous -1.3M)

                       Distillate Stocks, Net Chg (Bbls) (previous -2.4M)

Wednesday, May 5, 2021 

7:00 AM ET. MBA Weekly Mortgage Applications Survey

                       Composite Idx (previous 706.6)

                       Composite Idx, W/W% (previous -2.5%)

                       Purchase Idx-SA (previous 281.4)

                       Purchase Idx-SA, W/W% (previous -4.8%)

                       Refinance Idx (previous 3185.3)

                       Refinance Idx, W/W% (previous -1.1%)

8:15 AM ET. April ADP National Employment Report

                       Private Sector Jobs, Net Chg (previous +517000)

9:45 AM ET. April US Services PMI

                       PMI, Services (previous 60.4)

10:00 AM ET. April ISM Report On Business Services PMI

                       Non-Mfg Composite Idx (previous 63.7)

                       Non-Mfg Business Idx (previous 69.4)

                       Prices Idx (previous 74.0)

                       Employment Idx (previous 57.2)

                       New Orders Idx (previous 67.2)

10:30 AM ET. EIA Weekly Petroleum Status Report

                       Crude Oil Stocks (Bbl) (previous 493.107M)

                       Crude Oil Stocks, Net Chg (Bbl) (previous +0.09M)

                       Gasoline Stocks (Bbl) (previous 235.074M)

                       Gasoline Stocks, Net Chg (Bbl) (previous +0.092M)

                       Distillate Stocks (Bbl) (previous 139.049M)

                       Distillate Stocks, Net Chg (Bbl) (previous -3.342M)

                       Refinery Usage (previous 85.4%)

                       Total Prod Supplied (Bbl/day) (previous 20.395M)

                       Total Prod Supplied, Net Chg (Bbl/day) (previous +1.633M)

11:00 AM ET. April Global Services PMI

                       PMI, Services (previous 54.7)

Thursday, May 6, 2021 

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

                       Job Cuts, M/M% (previous -11.38%)

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

                       Corn (Metric Tons) (previous 1074.7K)

                       Soybeans (Metric Tons) (previous 731.5K)

                       Wheat (Metric Tons) (previous 461.3K)

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

                       Non-Farm Productivity, Q/Q% (previous -4.8%)

                       Unit Labor Costs (previous +6.8%)

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

                       Jobless Claims (previous 553K)

                       Jobless Claims, Net Chg (previous -13K)

                       Continuing Claims (previous 3660000)

                       Continuing Claims, Net Chg (previous +9K)

9:45 AM ET. Bloomberg Consumer Comfort Index

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

                       Working Gas In Storage (Cbf) (previous 1898B)

                       Working Gas In Storage, Net Chg (Cbf) (previous +15B)

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

4:30 PM ET. Foreign Central Bank Holdings

4:30 PM ET. Federal Discount Window Borrowings

Friday, May 7, 2021 

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

                       Non-Farm Payrolls (previous +916K)

                       Unemployment Rate (previous 6%)

                       Avg Hourly Earnings (USD) (previous 29.96)

                       Avg Hourly Earnings-Net Chg (USD) (previous -0.04)

                       Avg Hourly Earnings, M/M% (previous -0.13%)

                       Avg Hourly Earnings, Y/Y% (previous +4.24%)

                       Overall Workweek (previous 34.9)

                       Overall Workweek Net Chg (previous +0.3)

                       Government Payrolls (previous +136K)

                       Private Payroll (previous +780K)

                       Participation Rate (previous 61.5%)

                       Non-Farm Payrolls Bench Net Chg

10:00 AM ET. March Monthly Wholesale Trade

                       Inventories, M/M% (previous +0.6%)

3:00 PM ET. March Consumer Credit

                       Consumer Credit Net Chg (USD) (previous +27.6B)

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

The Dow closed higher on Monday as it extends the trading range of the past three-weeks. 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 the Dow extends the rally off January's low into uncharted territory, upside targets hard to project. Closes below the April-20^th low crossing at 33,687.01 would signal that a short-term top has been posted. If the Dow extends the rally off January's low into uncharted territory, upside targets hard to project. First resistance is April's high crossing at 34,256.75. Second resistance is unknown. First support is the April-20^th low crossing at 33,687.01. Second support is the 50-day moving average crossing at 32,919.37. 

The June NASDAQ 100 closed lower on Monday as it extends the trading range of the past three-weeks. 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. Closes below the April-21^st low crossing at 13,700.50 would confirm that a short-term top has been posted.If June renews the rally off March's low into uncharted territory, upside targets will be hard to project. First resistance is the April 16^th high crossing at 14,059.50. Second resistance is unknown. First support is the April-21^st low crossing at 13,700.50. Second support is the 50-day moving average crossing at 13,316.82. 

The June S&P 500 closed higher on Monday. The low-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 into uncharted territory, upside targets will be hard to project. Closes below the April-20^th low crossing at 4110.50 would signal that a short-term top has been posted. First resistance is last-Thursday's high crossing at 4211.00. Second resistance is unknown. First support is the April-20^th low crossing at 4110.50. Second support is the 50-day moving average crossing at 3998.64.  

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

June T-bonds closed up 14/32's at 157-22. 

June T-bonds 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 bearish signaling that sideways to lower prices are possible near-term. If June extends last-week's decline, the reaction low crossing at 155-25 is the next downside target. If June renews 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 last-Thursday's high crossing at 159-01. Second resistance is the 25% retracement level of the 2020-2021-decline crossing at 159-19. First support is last-Thursday's low crossing at 156-06. Second support is the March 18th low crossing at 153-07. 

June T-notes closed up 95-points at 132.105.

June T-notes closed higher on Monday. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If June renews the rally off April's low, the 25% retracement level of the 2020-2021-decline crossing at 133.001 is the next upside target. If June extends last-week's decline, April's low crossing at 130.255 is the next downside 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 last-Thursday's low crossing at 131.185. Second support is April's low crossing at 130.255. 

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

June crude oil closed higher on Monday. The high-range close sets the stage for a steady to higher 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 May extends the rally off March's low, March's high crossing at $67.99. First resistance is last-Thursday's high crossing at $65.47. Closes below the 50-day moving average crossing at $61.95 would signal that a short-term top has been posted. Second resistance is March's high crossing at $67.98. First support is the 50-day moving average crossing at $61.95. Second support is the March 23^rd low crossing at $57.25. Third support is the 38% retracement level of the November-February-rallycrossing at $55.69.  

June heating oil closed higher on Monday. The high-range close sets the stage for a steady to higher opening when Tuesday's night trading session begins. Stochastics and the RSI are overbought, diverging 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 $197.78 is the next upside target. Closes below the 50-day moving average crossing at $186.02 would signal that a short-term top has been posted. First resistance is last-Thursday's high crossing at $197.56. Second resistance is March's high crossing at $197.78. First support is the 50-day moving average crossing at $186.02. Second support is the March 23^rd low crossing at $173.44. 

June unleaded gas closed higher on Monday as it extends last-week's rally. 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 sideways to higher prices are possible near-term. If June extends the rally off March's low, March's high crossing at $212.80 is the next upside target. Closes below the 50-day moving average crossing at $199.52 would signal that a short-term top has likely been posted. First resistance is last-Thursday's high crossing at $211.89. Second resistance is March's high crossing at $212.80. First support is the 50-day moving average crossing at $199.52. Second support is the March 23^rd low crossing at $186.18.  

June Henry natural gas closed higher on Monday. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are 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 3.011. Closes below the 20-day moving average crossing at 2.775 would signal that a short-term top has been posted. First resistance is last-Wednesday's high crossing at 2.988. Second resistance is the 87% retracement level of the February-March-decline crossing at 3.011. First support is the 10-day moving average crossing at 2.881. Second support is the 20-day moving average crossing at 2.775. 

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

The June Dollar closed lower on Monday as it consolidated some of last-Friday's rally. 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 a low might be in or is near. Closes above the 20-day moving average crossing at 91.42 would signal that a short-term low has been posted. If June renews the decline off March's high, the 75% retracement level of the February-March-rally crossing 90.23 is the next downside target. First resistance is the 20-day moving average crossing at 91.42. Second resistance is the 50-day moving average crossing at 91.64. First support is last-Thursday's low crossing at 90.39. Second support is the 75% retracement level of the February-March-rally crossing 90.23.    

The June Euro closed higher on Monday as it consolidated some of last-Friday's decline. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 120.16 would signal that a short-term top has been posted. If June extends the rally off March's low, the 75% retracement level of the January-March-decline crossing at 122.27 is the next upside target. First resistance is last-Thursday's high crossing at 121.62. Second resistance is the 75% retracement level of the January-March-decline crossing at 122.27. First support is the 20-day moving average crossing at 120.16. Second support is the 50-day moving average crossing at 119.81. 

The June British Pound closed higher on Monday while extending the March-April 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 neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends last-Friday's decline, April's low crossing at 1.3752 is the next downside target. Closes above March's high crossing at 1.4020 would mark an upside breakout of the aforementioned trading range. First resistance is March's high crossing at 1.4020. Second resistance is February's high crossing at 1.4245. First support is today's low crossing at 1.3801. Second support is April's low crossing at 1.3671.

The June Swiss Franc closed higher on Monday.The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are 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 62% retracement level of the January-April-decline crossing at 1.1117 is the next upside target. Closes below the 20-day moving average crossing at 1.0904 would signal that a short-term top has been posted. First resistance is the 50% retracement level of the January-April-decline crossing at 1.1014. Second resistance is the 62% retracement level of the January-April-decline crossing at 1.1117. First support is the 20-day moving average crossing at 1.0904. Second support is the 50-day moving average crossing at 1.0857.

The June Canadian Dollar closed slightly higher on Monday as it extended the rally off April's low. If June extends the aforementioned rally, the February-2018 high crossing at 82.27 is the next upside target.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 April's low, the February-2018 high crossing at 82.27 is the next upside target. Closes below the 20-day moving average crossing at 80.16 would signal that a short-term top has been posted. First resistance is today's high crossing at 81.53. Second resistance is the February-2018 high crossing at 82.27. First support is the 10-day moving average crossing at 80.66. Second support is the 20-day moving average crossing at 80.16. 

The June Japanese Yen closed higher on Monday as it consolidated some of last-week's decline. The high-range close sets the stage for a steady to higher opening when Tuesday’s night 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 April's high, the April-9^th low crossing at 0.0910 is the next downside target. If June renews 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 April-9^th low crossing at 0.0910. Second support is March's low crossing at 0.0918.

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

June gold closed higher on Monday. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If June renews the rally off the March 31^st low, the February 23^rd high crossing at $1817.60 is the next upside target. Closes below the 50-day moving average crossing at $1746.30 would signal that a short-term top has been posted. First resistance is today's high crossing at $1798.90. Second resistance is the February 23^rd high crossing at $1817.60. First support is the April-13^th low crossing at $1723.20. Second support is March's low crossing at $1676.20.

July silver closed sharply higher on Monday as it renewed the rally off March's low. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If July renews the rally off March's low, the 50% retracement level of the February-March-decline crossing at 26.902 is the next upside target. Closes below the 20-day moving average crossing at 25.794 would signal that a short-term top has been posted. First resistance is the 62% retracement level of the February-March-decline crossing at 27.628. Second resistance is the 75% retracement level of the February-March-decline crossing at 28.451. First support is the 20-day moving average crossing at 25.900. Second support is the April-13^th low crossing at 24.725. 

July copper closed higher on Monday as it extends the rally off last-October's low. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If July extends the aforementioned rally, the February-2011 high on the monthly continuation chart crossing at 464.95 is the next upside target. Closes below the 50-day moving average crossing at 416.36 would confirm that a short-term top has been posted. First resistance is last-Thursday's high crossing at 455.10. Second resistance is the February-2011 high on the monthly continuation chart crossing at 464.95. First support is the 10-day moving average crossing at 440.04. Second support is the 20-day moving average crossing at 426.01. 

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

July Corn closed up $0.06 1/4-cents at $6.79 1/2. 

July corn closed higher on Monday as it extended the rally off March's low. Today's planting progress report showed that 46% of the corn crop has been planted verses the average of 36% planted. 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 diverging but turning neutral to bullish signaling that sideways to higher prices are possible near-term. If July extends the aforementioned rally, the 75% retracement level of the 2012-2020-decline crossing at $7.07 3/4 is the next upside target. Closes below the 20-day moving average crossing at $6.03 1/4 would signal that a short-term top has been posted. First resistance is today's high crossing at $6.98. Second resistance is the 75% retracement level of the 2012-2020-decline crossing at $7.07 3/4. First support is the 10-day moving average crossing at $6.42. Second support is the 20-day moving average crossing at $6.03 1/4. 

July wheat closed down $0.16 3/4-cents at $7.18.  

July wheat posted a key reversal down as it 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. Closes below the 20-day moving average crossing at $6.75 3/4 would signal that a short-term top has been posted. If July renews this year's rally, psychological resistance crossing at $8.00 is the next upside target. First resistance is last-Tuesday's high crossing at $7.15 1/4. Second resistance is psychological resistance crossing at $8.00. First support is the 10-day moving average crossing at $7.13 3/4. Second support is the 20-day moving average crossing at $6.75 3/4.

July Kansas City Wheat closed down $0.15-cents at $6.88 1/2.

July Kansas City wheat 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 bearish signaling that sideways to lower prices are possible near-term. Closes below the 10-day moving average crossing at $6.82 1/2 would signal that a short-term top has been posted. If July resumes 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. First resistance is last-Tuesday's 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 $6.82 1/2. Second support is the 20-day moving average crossing at $6.38 3/4.

July Minneapolis wheat closed down $0.05-cents at $7.58 3/4. 

July Minneapolis wheat closed lower on Monday as it consolidated some of the rally off April's low. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible. If July extends the rally off April's low, psychological resistance crossing at $8.00 is the next upside target. Closes below the 20-day moving average crossing at $6.92 1/4 would signal that a short-term top has been posted. First resistance is today's high crossing at $7.83 3/4. Second resistance is psychological resistance crossing at $8.00. First support is the 10-day moving average crossing at $7.29 1/2. Second support is the 20-day moving average crossing at $6.92 1/4.   

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

July soybeans closed down $0.10 1/4-cents at $15.24.

July soybeans closed lower on Monday as moisture moved across portions of the upper Midwest. Today's planting progress report showed that 24% of the soybean crop has been planted verses the average of 11% planted. 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 July extends the rally off last-April's low, psychological resistance crossing at $16.00 is the next upside target. Closes below the 20-day moving average crossing at $14.58 would signal that a short-term top has been posted. First resistance is last-Tuesday's high crossing at $15.74 3/4. Second resistance is psychological resistance crossing at $16.00. First support is the 10-day moving average crossing at $15.10 1/4. Second support is the 20-day moving average crossing at $14.58.

July soybean meal closed down $11.00 to $415.10. 

July soybean meal posted a key reversal down as it 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. Closes below the 50-day moving average crossing at $412.00 would signal that a short-term top has been posted. If July renews the rally off April's low, January's high crossing at $458.20 is the next upside target. First resistance is last-Monday's high crossing at $439.10. Second resistance is January's high crossing at $458.20. First support is the 50-day moving average crossing at $412.00. Second support is April's low crossing at $399.40.       

July soybean oil closed up 67-pts. at 63.06. 

July soybean oil closed higher on Monday and posted a new high close for the year. 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 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 2008-2020-decline on the monthly continuation chart crossing at 65.20 is the next upside target. Closes below the 10-day moving average crossing at 59.85 would signal that a short-term top has been posted. First resistance is today's high crossing at 64.87. Second resistance is the 87% retracement level of the 2008-2020-decline on the monthly continuation chart crossing at 65.20. First support is the 10-day moving average crossing at 59.85. Second support is the 20-day moving average crossing at 55.89.      

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

June hogs closed up $2.93 at $112.65. 

June hogs gapped up and closed sharply higher on Monday as it extends the rally off last-November's low. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off November's low, the 87% retracement level of the 2014-2016 decline on the monthly continuation chart crossing at $121.70 is the next upside target. Closes below the 20-day moving average crossing at $106.68 would signal that a short-term top has likely been posted. One word of caution, if today's gap is filled in the next few days, it would increase the odds that the gap might have been an exhaustion gap (BEARISH). First resistance is today's high crossing at $113.18. Second resistance is the 87% retracement level of the 2014-2016 decline on the monthly continuation chart crossing at $121.70. First support is the 20-day moving average crossing at $106.68. Second support is the 50-day moving average crossing at $102.22. 

June cattle closed down $1.28 at $115.30. 

June cattle closed lower on Monday as it while extending the trading range of the past two-weeks. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that a short-term top might be in or is near. If June extends the decline off April's high, the 50% retracement level of the October-April-rally crossing at $114.37 is the next downside target. Closes above the 20-day moving average crossing at $119.07 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at $119.07. Second resistance is the 50-day moving average crossing at $119.70. First support is the 50% retracement level of the October-April-rally crossing at $114.37. Second support is the 62% retracement level of the October-April-rally crossing at $111.71.

August Feeder cattle closed up $0.05 at $146.80. 

August Feeder cattle closed higher on Monday as it consolidated some of the decline off April's high. The high-range close sets the stage for a steady to higher opening when Tuesday's session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that additional weakness is possible near-term. If August extends the aforementioned decline, the 75% retracement level of the October-April-rally crossing at $141.77 is the next downside target. Closes above the 20-day moving average crossing at $154.01 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $149.76. Second resistance is the 20-day moving average crossing at $154.01. First support is today's low crossing at $144.60. Second support is the 75% retracement level of the October-April-rally crossing at $141.77.            

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

July coffee 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 on Tuesday. Stochastics and the RSI have turned neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 13.57 would signal that a short-term top has been posted. If July renews the rally off March's low, the January-2019 high crossing at 15.16 is the next upside target.            

July cocoa closed lower on Monday and has renewed the decline off March's high. The low-range close sets 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 extends today's decline, the November 12^th low crossing at 23.28 is the next downside target. Closes above the 50-day moving average crossing at 24.89 would signal that a low has been posted.               

July sugar closed lower on Monday. The low-range close sets 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. Closes below the 20-day moving average crossing at 16.32 would signal that a short-term top has been posted. If July renews the rally off March's low, weekly resistance crossing at 18.42 is the next upside target.        

July cotton closed slightly lower on Monday. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 85.64 would signal that a short-term top has been posted. If July extends the rally off March's low, February's high crossing at 96.22 is the next upside target.