KEY EVENTS TO WATCH FOR:

Tuesday, February 6, 2018   

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

                       Chain Store Sales, W/W% (previous +1.1%)

                       Chain Store Sales, M/M% (previous +2.2%)

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

                       Trade Balance (USD) (expected -52.1B; previous -50.50B)

                       Exports (USD) (previous 200.22B)

                       Exports, M/M% (previous +2.3%)

                       Imports (USD) (previous 250.72B)

                       Imports, M/M% (previous +2.5%)

8:55 AM ET. Johnson Redbook Retail Sales Index

                       Ret Sales Mo-to-Date, M/M% (previous +0.0%)

                       Ret Sales Mo-to-Date, Y/Y% (previous +3.2%)

                       Latest Wk, Y/Y% (previous +3.2%)

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

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

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

                       Economic Optimism Idx (previous 55.1)

                       6-Mo Economic Outlook (previous 55.5)

4:30 PM ET. API Weekly Statistical Bulletin

                       Crude Stocks, Net Chg (Bbls) (previous +3.2M)

                       Gasoline Stocks, Net Chg (Bbls) (previous +2.7M)

                       Distillate Stocks, Net Chg (Bbls) (previous -4.1M)

                       Refinery Runs

Wednesday, February 7, 2018   

7:00 AM ET. MBA Weekly Mortgage Applications Survey

                       Composite Idx (previous 413.4)

                       Composite Idx, W/W% (previous -2.6%)

                       Purchase Idx-SA (previous 255.5)

                       Purchase Idx-SA, W/W% (previous -3.4%)

                       Refinance Idx (previous 1288.0)

                       Refinance Idx, W/W% (previous -2.9%)

10:30 AM ET. EIA Weekly Petroleum Status Report

                       Crude Oil Stocks (Bbl) (previous 418.359M)

                       Crude Oil Stocks, Net Chg (Bbl) (previous +6.776M)

                       Gasoline Stocks (Bbl) (previous 242.06M)

                       Gasoline Stocks, Net Chg (Bbl) (previous -1.98M)

                       Distillate Stocks (Bbl) (previous 137.9M)

                       Distillate Stocks, Net Chg (Bbl) (previous -1.94M)

                       Refinery Usage (previous 88.1%)

                       Total Prod Supplied (Bbl/day) (previous 21.003M)

                       Total Prod Supplied, Net Chg (Bbl/day) (previous +0.367M)

3:00 PM ET. December Consumer Credit

                       Consumer Credit Net Chg (USD) (previous +27.95B)

Thursday, February 8, 2018  

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

                       Corn (Metric Tons) (previous 1881.6K)

                       Soybeans (Metric Tons) (previous 409.7K)

                       Wheat (Metric Tons) (previous 289.1K)

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

                       Jobless Claims (expected 233K; previous 230K)

                       Jobless Claims, Net Chg (previous -1K)

                       Continuing Claims (previous 1953000)

                       Continuing Claims, Net Chg (previous +13K)

9:45 AM ET. Bloomberg Consumer Comfort Index

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

                       Working Gas In Storage (Cbf) (previous 2197B)

                       Working Gas In Storage, Net Chg (Cbf) (previous -99B)

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

                       Corn, End Stocks (Bushels)

                       Soybeans, End Stocks (Bushels)

                       Wheat, End Stocks (Bushels)

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

2:00 PM ET. SEC Closed Meeting

4:30 PM ET. Foreign Central Bank Holdings

4:30 PM ET. Money Stock Measures

4:30 PM ET. Federal Discount Window Borrowings

Friday, February 9, 2018   

10:00 AM ET. December Monthly Wholesale Trade

                       Inventories, M/M% (expected +0.2%; previous +0.8%)

Monday, February 12, 2018  

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

N/A U.S. President Donald Trump releases Fiscal Year 2019 budget proposal today at the earliest

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

The STOCK INDEXES:The March NASDAQ 100 was lower overnight as it extends Monday's huge decline. U.S. stock futures swung wildly in extremely volatile trading overnight with the Dow pointing to a more-than 100-point loss after trading in a 1,100-point range in the run-up to the day session's open. Global equities extended Monday's historic selling with sharp losses across Asia and Europe. Stochastics and the RSI are becoming oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends last week's decline, December's low crossing at 6250.00 is the next downside target. Closes above the 10-day moving average crossing at 6835.02 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 6835.02. Second resistance is last Monday's high crossing at 7047.25. First support is December's low crossing at 6250.00. Second support is the late-October low crossing at 6024.00.  

The March S&P 500 was lower overnight as it extends the decline off January's high.Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the aforementioned decline, the 50% retracement level of the 2016-2018-rally crossing at 2421.52 is the next downside target. Closes above the 20-day moving average crossing at 2789.76 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 2789.76. Second resistance is January's high crossing at 2878.40. First support is the 38% retracement level of the 2016-2018-rally crossing at 2529.20. Second support is the 50% retracement level of the 2016-2018-rally crossing at 2421.52.  

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

INTEREST RATES: March T-bonds were steady to slightly higher overnight following Monday's huge key reversal up. 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 148-21 are needed to confirm that a short-term low has been posted. If March extends the decline off January's high, weekly support crossing at 143-25 is the next downside target. First resistance is the 10-day moving average crossing at 147-18. Second resistance is the 20-day moving average crossing at 148-21. First support is Monday's low crossing at 144-03. Second support is weekly support crossing at 143-25.  

March T-notes were steady to slightly higher overnight as they consolidate some of this winter's decline. 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 122.072 are needed to confirm that a short-term low has been posted. If March extends the decline off November's high, weekly support crossing at 119.170 is the next downside target. First resistance is the 20-day moving average crossing at 122.072. Second resistance is the 50-day moving average crossing at 123.110. First support is Monday's low crossing at 120.180. Second support is weekly support crossing at 119.170. 

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

ENERGY MARKETS: MarchNymex crude oil was slightly higher overnight as it consolidates some of Monday's loss.Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off January's high, the 50-day moving average crossing at 60.87 is the next downside target. If March resumes the rally off last June's low, the 62% retracement level of the 2014-2016-decline crossing at 70.29 is the next upside target. First resistance is January's high crossing at 66.66. Second resistance is the 62% retracement level of the 2014-2016-decline crossing at 70.29. First support is the reaction low crossing at 62.78. Second support is the 50-day moving average crossing at 60.87.

March heating oil was steady to slightly higher overnight as it consolidates above support marked by the 50-day moving average crossing at 200.10. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off January's high, the 25% retracement level of the June-January-rally crossing at 196.03 is the next downside target. Closes above last Friday's high crossing at 210.05 are needed to confirm that a short-term low has been posted. First resistance is January's high crossing at 213.62. Second resistance is the 87% retracement level of the 2014-2016-decline crossing at 221.96. First support is the 50-day moving average crossing at 200.10. Second support is the 25% retracement level of the June-January-rally crossing at 196.03.      

March unleaded gas was lower overnight as it extend the decline off January's high. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the aforementioned decline, the 25% retracement level of the June-January-rally crossing at 178.10 is the next downside target. Closes above the 10-day moving average crossing at 188.37 would confirm that a short-term low has been posted. First resistance is January's high crossing at 193.93. Second resistance is weekly resistance crossing at 197.79. First support is the 50-day moving average crossing at 181.01. Second support is the 25% retracement level of the June-January-rally crossing at 178.10.

March Henry natural gas was steady to slightly lower overnight as it extends the decline off January's high. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off January's high, January's low crossing at 2.693 is the next downside target. Closes above the 10-day moving average crossing at 2.988 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 2.988. Second resistance is January's high crossing at 3.259. First support is Monday's low crossing at 2.736. Second support is January's low crossing at 2.693.

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

CURRENCIES:The March Dollar was steady to slightly lower overnight while extending the trading range of the past eight-days. Stochastics and the RSI are neutral to bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing at 89.87 are needed to confirm that a short-term low has been posted. If March renews the decline off December's high, weekly support crossing at 87.45 is the next downside target. First resistance is the 20-day moving average crossing at 89.87. Second resistance is the reaction high crossing at 90.76. First support is January's low crossing at 88.25. Second support is weekly support crossing at 87.45.

The March Euro was slightly higher overnight as it extends the trading range of the past eight days. 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 123.27 are needed to confirm that a short-term top has been posted. If March extends the rally off December's low, monthly resistance crossing at 126.74 is the next upside target. First resistance is the 50% retracement level of the 2014-2016-decline crossing at 125.34. Second resistance is monthly resistance crossing at 126.74. First support is the 20-day moving average crossing at 123.27. Second support is the reaction low crossing at 122.09. 

The March British Pound was lower overnight as it extends the decline off January's high. 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 1.3970 are needed to confirm that a short-term top has been posted. If March renews the rally off November's low, the 50% retracement level of the 2014-2016-decline crossing at 1.4608 is the next upside target. First resistance is January's high crossing at 1.4370. Second resistance is the 50% retracement level of the 2014-2016-decline crossing at 1.4608. First support is the 20-day moving average crossing at 1.3970. Second support is the 50-day moving average crossing at 1.3673.  

The March Swiss Franc were slightly lower overnight. Stochastics and the RSI are overbought and are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 1.0560 are needed to confirm that a short-term top has been posted. If March resumes the rally off December's low, the August-2016 high crossing at 1.0859 is the next upside target. First resistance is last Thursday's high crossing at 1.0839. Second resistance is the August-2016 high crossing at 1.0859. First support is the 10-day moving average crossing at 1.0735. Second support is the 20-day moving average crossing at 1.0560.     

The March Canadian Dollar was steady to slightly lower overnight as it extends the decline off January's high. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the aforementioned decline, the 50-day moving average crossing at 79.45 is the next downside target. Closes above the 10-day moving average crossing at 80.82 would confirm that a short-term low has been posted. First resistance is the 75% retracement level of the September-December-decline crossing at 81.41. Second resistance is 87% retracement level of the September-December-decline crossing at 82.04. First support is the overnight low crossing at 79.62. Second support is the 50-day moving average crossing at 79.45.

The March Japanese Yen was steady to slightly higher overnight. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If March renews the rally off January's low, the 87% retracement level of the September-November-decline crossing at 0.9288 is the next upside target. Closes below the 20-day moving average crossing at 0.9105 are needed to confirm that a short-term top has been posted. First resistance is the 75% retracement level of the September-November-decline crossing at 0.9218. Second resistance is the 87% retracement level of the September-November-decline crossing at 0.9288. First support is the 20-day moving average crossing at 0.9105. Second support is the 50-day moving average crossing at 0.8995.  

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

PRECIOUS METALS: April gold was higher overnight. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. If April extends the decline off January's high, the 38% retracement level of the December-January-rally crossing at 1321.80 is the next downside target. Closes above last Thursday's high crossing at 1354.30 would signal that a short-term low has been posted. First resistance is last Thursday's high crossing at 1354.30. Second resistance is January's high crossing at 1370.50. First support is the 38% retracement level of the December-January-rally crossing at 1321.80. Second support is the 50-day moving average crossing at 1307.80.

March silver was higher due to short covering overnight as it consolidates some of last Friday's decline. However, stochastics and the RSI remain neutral to bearish signaling that additional weakness is possible near-term. If March extends the decline off January's high, the reaction low crossing at 16.140 is the next downside target. Closes above the 10-day moving average crossing at 17.104 would confirm that a short-term low has been posted. First resistance is the 75% retracement level of the September-December-decline crossing at 17.686. Second resistance is the 87% retracement level of the September-December-decline crossing at 18.015. First support is Monday's low crossing at 16.510. Second support is the reaction low crossing at 16.140. 

March copper was steady to slightly higher overnight as it extends the trading range of the past eight-days. The high-range 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 above the reaction high crossing at 325.80 would confirm that a short-term low has been posted. If March renews the decline off December's high, the 62% retracement level of December's rally crossing at 308.61 is the next downside target. First resistance is December's high crossing at 332.20. Second resistance is the August-2013 high crossing at 334.05. First support is the 62% retracement level of December's rally crossing at 308.61. Second support is the 75% retracement level of December's rally crossing at 303.58.

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

March corn was steady to fractionally lower overnight as it consolidates some of the rally off January's low. The high-range trade overnight sets the stage for a steady to higher 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 50-day moving average crossing at 3.52 1/2 would temper the near-term friendly outlook. If March extends the rally off January's low, the 25% retracement level of the July-January-decline crossing at 3.65 1/2 is the next upside target. First resistance is last Friday's high crossing at 3.62 1/2. Second resistance is the 25% retracement level of the July-January-decline crossing at 3.65 1/2. First support is the reaction low crossing at 3.49 1/2. Second support is January's low crossing at 3.45 1/2.  

March wheat was lower overnight as it extends the decline off January's high. 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 4.35 are needed to confirm that a short-term top has been posted. If March renews the rally off January's low, last September's high crossing at 4.82 is the next upside target. First resistance is the 25% retracement level of the July-January-decline crossing at 4.58 3/4. Second resistance is last September's high crossing at 4.82. First support is the 20-day moving average crossing at 4.35. Second support is January's low crossing at 4.13 1/4.    

March Kansas City Wheat closed down 1 1/2-cents at 4.61 3/4. 

March Kansas City wheat closed lower on Monday. The mid-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are overbought but 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 4.41 1/2 would confirm that a short-term top has been posted. If March extends the rally off December's high, September's high crossing at 4.77 1/2 is the next upside target. First resistance is last Wednesday's high crossing at 4.71 1/4. Second resistance is September's high crossing at 4.77 1/2. First support is the 10-day moving average crossing at 4.51 1/2. Second support is the 20-day moving average crossing at 4.41 1/2.  

March Minneapolis wheat was slightly higher overnight as it consolidates some of last week's 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 are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off January's high, the 87% retracement level of the April-July-rally crossing at 5.89 1/2 is the next downside target. Closes above the reaction high crossing at 6.21 1/2 are needed to confirm that a short-term low has been posted. First resistance is the reaction high crossing at 6.21 1/2. Second resistance is January's high crossing at 6.34 1/2. First support is Monday's low crossing at 6.00. Second support is the 87% retracement level of the April-July-rally crossing at 5.89 1/2. 

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

March soybeans were higher due to short covering overnight as they consolidate some of the decline off January's 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 remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off January's high, the reaction low crossing at 9.61 1/4 is the next downside target. Closes above the 10-day moving average crossing at 9.86 would confirm that a short-term low has been posted. First resistance is the 75% retracement level of the December-January-decline crossing at 10.06 1/4. Second resistance is the 87% retracement level of the December-January-decline crossing at 10.16 1/4. First support is the reaction low crossing at 9.61 1/4. Second support is January's low crossing at 9.44 1/2.

March soybean meal was higher due to short covering overnight as it consolidates some of the decline off January's high. The high-range trade overnight 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 a short-term top might be in or is near. If March extends the decline off January's high, minor support crossing at 319.60 is the next downside target. Closes above the 10-day moving average crossing at 335.30 would temper the near-term bearish outlook. First resistance is the 10-day moving average crossing at 335.30. Second resistance is the 87% retracement level of the December-January-decline crossing at 344.90. First support is Monday's low crossing at 326.20. Second support is minor support crossing at 319.60.

March soybean oil 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 neutral to bearish signaling that sideways to lower prices are possible near-term. If March renews the decline off November's high, last June's low crossing at 31.85 is the next downside target. If March renews the rally off January's low, the 50-day moving average crossing at 33.24 is the next upside target. First resistance is the 50-day moving average crossing at 33.24. Second resistance is January's high crossing at 34.10. First support is January's low crossing at 32.10. Second support is last June's low crossing at 31.85.

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

April hogs closed down $0.23 at $73.33. 

April hogs closed lower on Monday. The high-range close sets the stage for a steady to higher opening when Tuesday's 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 74.60 are needed to confirm that a short-term low has been posted. If April resumes the decline off January's high, December's low crossing at 70.97 is the next downside target. First resistance is the reaction high crossing at 76.52. Second resistance is January's high crossing at 77.25. First support is December's low 70.97. Second support is November's low crossing at 70.62. 

April cattle closed down $0.65 at 125.48. 

April cattle 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If April extends the rally off January's low, November's high crossing at 130.10 is the next upside target. Closes below the 20-day moving average crossing at 122.80 would confirm that a short-term top has been posted. First resistance is the reaction high crossing at 127.38. Second resistance is November's high crossing at 130.10. First support is the 20-day moving average crossing at 122.80. Second support is January's low crossing at 118.05.

March Feeder cattle closed down $1.25 at $149.68. 

March Feeder cattle closed lower on Monday as it consolidates some of the rally off December's low. The mid-range close sets the stage for a steady opening when Tuesday's 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 March extends the rally off December's low, the reaction high crossing at 154.05 is the next upside target. Closes below the 20-day moving average crossing at 145.64 would confirm that a short-term top has been posted. First resistance is the reaction high crossing at 154.05. Second resistance is the reaction high crossing at 156.13. First support is the reaction low crossing at 142.42. Second support is January's low crossing at 140.13.   

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

March coffee closed lower on Monday and is poised to test key support marked by December's low crossing at 11.83. 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 sideways to lower prices are possible near-term. If March extends this year's decline, December's low crossing at 11.83 is the next downside target. Multiple closes above the 50-day moving average crossing at 12.41 are needed to confirms that a short-term low has been posted. 

March cocoa closed lower on Monday. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are overbought but remain neutral to bearish signaling that sideways to higher prices are possible near-term. If March extends the rally off December's low, the 75% retracement level of the November-December-decline crossing at 21.20 is the next upside target. Closes below the 20-day moving average crossing at 19.61 would confirm that a short-term top has been posted. 

March sugar closed higher on Monday and above the 20-day moving average crossing at 13.67 confirming that a short-term low has been posted. The high-range close set the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are neutral to bullish hinting that sideways to higher prices are possible near-term. If March renews this month's decline, the September-2015 low crossing at 12.72 is the next downside target. 

March cotton closed lower on Monday as it extends the decline off January's high. The low-range close sets the stage for a steady opening on Tuesday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off January's high, the 50% retracement level of the October-January-rally crossing at 75.65 is the next downside target. Closes above the 20-day moving average crossing at 80.26 would confirm that a short-term low has been posted.