KEY EVENTS TO WATCH FOR:

Thursday, April 19, 2018

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

                       Jobless Claims (expected 226K; previous 233K)

                       Jobless Claims, Net Chg (previous -9K)

                       Continuing Claims (previous 1871000)

                       Continuing Claims, Net Chg (previous +53K)

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

                       Corn (Metric Tons) (previous 895.9K)

                       Soybeans (Metric Tons) (previous 2464.5K)

                       Wheat (Metric Tons) (previous 188.7K)

8:30 AM ET. April Philadelphia Fed Business Outlook Survey

                       Business Activity (expected 20.8; previous 22.3)

                       Prices Paid (previous 42.6)

                       Employment (previous 25.6)

                       New Orders (previous 35.7)

                       Prices Received (previous 20.7)

                       Delivery Times (previous 14.0)

                       Inventories (previous 16.5)

                       Shipments (previous 32.4)

8:30 AM ET. Annual   Advance GDP by Industry

9:45 AM ET. Bloomberg Consumer Comfort Index

10:00 AM ET. March Leading Indicators

                       Leading Index (expected +0.3%; previous +0.6%)

                       Coincident Index (previous +0.3%)

                       Lagging Index (previous +0.4%)

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

                       Working Gas In Storage (Cbf) (previous 1335B)

                       Working Gas In Storage, Net Chg (Cbf) (previous -19B)

3:30 PM ET. G24 Ministers and Governors Meeting

4:30 PM ET. Federal Discount Window Borrowings

4:30 PM ET. Foreign Central Bank Holdings

4:30 PM ET. Money Stock Measures

Friday, April 20, 2018   

10:00 AM ET. March Regional & State Employment & Unemployment

8:30 AM ET. March CFNAI Chicago Fed National Activity Index

                       NAI (previous 0.88)

                       NAI, 3-mo Moving Avg (previous 0.37)

9:45 AM ET. April US Flash Services PMI

                       PMI, Services (previous 54.1)

9:45 AM ET. April US Flash Manufacturing PMI

                       PMI, Mfg (previous 55.7)

10:00 AM ET. March Existing Home Sales

                       Existing Sales (previous 5.54M)

                       Existing Sales, M/M% (previous +3.0%)

                       Unsold Homes Month's Supply (previous 3.4)

                       Median Price (USD) (previous 241700)

                       Median Home Price, Y/Y% (previous +5.9%)

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

The STOCK INDEXES:The June NASDAQ 100 was lower overnight as it consolidates some of the rally off April's low. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends this month's rally, the reaction high crossing at 6951.00 is the next upside target. Closes below the 20-day moving average crossing at 6619.63 would confirm that a short-term top has been posted. First resistance is the reaction high crossing at 6951.00. Second resistance is March's high crossing at 7214.50. First support is the 20-day moving average crossing at 6619.63. Second support is April's low crossing at 6306.75.    

The June S&P 500 was lower overnight as it consolidated some of the rally off April's low. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends this month's rally, the reaction high crossing at 2741.00 is the next upside target. Closes below the 20-day moving average crossing at 2645.21 would temper the near-term friendly outlook.First resistance is the reaction high crossing at 2741.00. Second resistance is March's high crossing at 2806.00. First support is the 20-day moving average crossing at 2645.21. Second support is April's low crossing at 2554.00.     

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

INTEREST RATES: June T-bonds were lower overnight as it extends the decline off April's high. Stochastics and the RSI are becoming oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below Monday's low crossing at 144-21 would confirm that a short-term top has been posted. If June renews the rally off February's low, the 50% retracement level of the December-February-decline crossing at 147-14 is the next upside target. First resistance is April's high crossing at 147-03. Second resistance is the 50% retracement level of the December-February-decline crossing at 147-14. First support is Monday's low crossing at 144-21. Second support is the 50-day moving average crossing at 144-08.

June T-notes were lower overnight as it extends the decline off April's high. 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 April's high, March's low crossing at 119.220 is the next downside target. Closes above the 20-day moving average crossing at 120.216 would confirm that a short-term low has been posted. First resistance is April's high crossing at 121.120. Second resistance is the reaction high crossing at 122.020. First support is the overnight low crossing at 119.300. Second support is March's low crossing at 119.220.  

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

ENERGY MARKETS: MayNymex crude oil was steady to slightly higher overnight as it extends the rally off February's low. 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 February's low, the 62% retracement level of the 2014-2016-decline crossing at 70.46 is the next upside target. Closes below the 20-day moving average crossing at 65.30 are needed to confirm that a short-term top has been posted. First resistance is the overnight high crossing at 69.27. Second resistance is the 62% retracement level of the 2014-2016-decline crossing at 70.46. First support is the 20-day moving average crossing at 65.30. Second support is April's low crossing at 61.81.  

May heating oil was steady to slightly higher overnight. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If May resumes the rally off March's low, the February-2015-high crossing at 216.58 is the next upside target. Closes below the 20-day moving average crossing at 203.27 would confirm that a short-term top has been posted. First resistance is last Wednesday's high crossing at 212.27. Second resistance is the February-2015-high crossing at 216.58. First support is the 10-day moving average crossing at 206.33. Second support is the 20-day moving average crossing at 203.27. 

May unleaded gas was lower overnight. 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, January's high crossing at 210.12 is the next upside target. Closes below the 20-day moving average crossing at 202.06 would confirm that a short-term top has been posted. First resistance is the reaction high crossing at 208.89. Second resistance is January's high crossing at 210.12. First support is the 20-day moving average crossing at 202.06. Second support is the 50-day moving average crossing at 197.12. 

May Henry natural gas was lower overnight as it consolidates some of the rally off April's low.Stochastics and the RSI 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 2.699 would temper the near-term friendly outlook. If May extends the rally off April's low, March's high crossing at 2.831 is the next upside target. First resistance is the reaction high crossing at 2.764. Second resistance is March's high crossing at 2.831. First support is the 20-day moving average crossing at 2.699. Second support is March's low crossing at 2.610. Third support is February's low crossing at 2.600.  

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

CURRENCIES:The June Dollar was steady to slightly higher overnight while extending this year's trading range. Stochastics and the RSI remain neutral signaling that sideways trading is possible near-term. If June extends the decline off April's high, March's low crossing at 88.53 is the next downside target. Closes above the reaction high crossing at 89.67 would temper the near-term bearish outlook. First resistance is the 38% retracement level of the November-February-decline crossing at 90.35. Second resistance is the 50% retracement level of the November-February-decline crossing at 91.13. First support is March's low crossing at 88.53. Second support is February's low crossing at 87.93.

The June Euro was lower overnight while extending the trading of the past three-months. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off April's low, March's high crossing 125.53 is the next upside target. Closes below last Thursday's low crossing at 123.56 would confirm that the rally off April's low has ended. First resistance is March's high crossing at 125.53. Second resistance is February's high crossing at 126.58. First support is April's low crossing at 122.76. Second support is March's low crossing at 122.54. Third support is the 50% retracement level of the November-February-decline crossing at 121.97. 

The June British Pound was higher overnight as it consolidates some of this week's decline.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 1.4191 would confirm that a short-term top has been posted. If June extends the rally off April's low, the 50% retracement level of the 2014-2016-decline crossing at 1.4617 is the next upside target. First resistance is Tuesday's high crossing at 1.4413. Second high is the 50% retracement level of the 2014-2016-decline crossing at 1.4617. First support is the 20-day moving average crossing at 1.4191. Second support is April's low crossing at 1.4007.  

The June Swiss Franc were steady to slightly lower overnight and tested the 75% retracement level of the November-February-rally crossing at 1.0344 as it extends the decline off February's high. 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, the 87% retracement level of the November-February-rally crossing at 1.0241 is the next downside target. Closes above the 20-day moving average crossing at 1.0502 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 1.0502. Second resistance is the 50-day moving average crossing at 1.0634. First support is the 75% retracement level of the November-February-rally crossing at 1.0344. Second support is the 87% retracement level of the November-February-rally crossing at 1.0241.

The June Canadian Dollar was higher 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 78.59 would confirm that a short-term top has been posted.If June renews the rally off March's low, the reaction high crossing at 80.45 is the next upside target. First resistance is the reaction high crossing at 80.45. Second resistance is January's high crossing at 81.75. First support is the 10-day moving average crossing at 79.33. Second support is the 20-day moving average crossing at 78.59.  

The June Japanese Yen was lower overnight while extending the trading range of the past two-weeks. 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 March's high, the 50% retracement level of the November-March-rally crossing at 0.9237 is the next downside target. Closes above the 20-day moving average crossing at 0.9425 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 0.9425. Second resistance is March's high crossing at 0.9615. First support is the 38% retracement level of the November-March-rally crossing at 0.9327. Second support is the 50% retracement level of the November-March-rally crossing at 0.9237.  

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

PRECIOUS METALS: June gold was slightly lower overnight. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If June resumes the rally off March's low, January's high crossing at 1375.50 is the next upside target. Closes below the 50-day moving average crossing at 1336.90 are needed to confirm that a short-term top has been posted. First resistance is February's high crossing at 1369.60. Second resistance is January's high crossing at 1375.50. First support is the 38% retracement level of the December-January-rally crossing at 1326.70. Second support is the 50% retracement level of the December-January-rally crossing at 1311.50.

May silver was slightly lower overnight as it consolidates some of the rally off April's low. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If May extends Wednesday's upside breakout of a three-month old trading range, the reaction high crossing at 17.460 is the next upside target. Closes below the 20-day moving average crossing at 16.572 would confirm that a short-term top has been posted. First resistance is the reaction high crossing at 17.460. Second resistance is January's high crossing at 17.785. First support is the 20-day moving average crossing at 16.572. Second support is March's low crossing at 16.100. 

May copper was lower overnight as it consolidates some of the rally off March's low. The low-range trade sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are diverging but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If May extends the rally off March's low, March's high crossing at 329.05 is the next upside target. Closes below the 20-day moving average crossing at 305.83 would confirm that a short-term top has been posted. First resistance is the reaction high crossing at 319.20. Second resistance is March's high crossing at 329.05. First support is the 20-day moving average crossing at 305.83. Second support is April's low crossing at 297.00.

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

May corn was steady to fractionally lower overnight. The low-range trade overnight 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 a short-term top might be in or is near. If May extends the decline off April's high, April's low crossing at 3.72 is the next downside target. Closes above the 10-day moving average crossing at 3.85 3/4 would signal that a short-term low has been posted. First resistance is March's high crossing at 3.95 1/4. Second resistance is the 62% retracement level of the July-January-decline crossing at 4.01 is the next upside target. First support is the 38% retracement level of the January-March-rally crossing at 3.79 1/2. Second support is the 50% retracement level of the January-March-rally crossing at 3.74 1/2.  

May wheat was higher overnight. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If May resumes the rally off March's low, the reaction high crossing at 4.98 is the next upside target. Closes below the 20-day moving average crossing at 4.65 1/2 are needed to confirm that a short-term top has been posted. First resistance is April's high crossing at 4.94. Second resistance is the reaction high crossing at 4.98. First support is the 20-day moving average crossing at 4.65 1/2. Second support is March's low crossing at 4.41 1/2.      

May Kansas City Wheat closed up 8 1/4-cents at 4.88 3/4. 

May Kansas City wheat closed higher on Wednesday as it consolidated some of the decline off April's high. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends the decline off April's high, the 75% retracement level of the December-March-rally crossing at 4.54 1/2 is the next downside target. Closes above the 10-day moving average crossing at 5.01 3/4 would confirm that a short-term low has been posted. First resistance is April's high crossing at 5.28 3/4. Second resistance is March's high crossing at 5.48 1/2. First support is Tuesday's low crossing at 4.76. Second support is March's low crossing at 4.56. 

May Minneapolis wheat was steady to fractionally higher overnight. The low-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. If May renews this month's rally, March's high crossing at 6.36 is the next upside target. Closes below the 20-day moving average crossing at 6.03 would confirm that a short-term top has been posted. First resistance is last Tuesday's high crossing at 6.34. Second resistance is March's high crossing at 6.36. First support is the 20-day moving average crossing at 6.03. Second support is April's low crossing at 5.71. 

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

May soybeans were 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 turning neutral signaling that sideways trading is possible near-term. Closes below the 50-day moving average crossing at 10.38 3/4 would confirm that a short-term top has been posted. If May extends the rally off April's low, March's high crossing at 10.82 1/2 is the next upside target. First resistance is last Friday's high crossing at 10.67 1/4. Second resistance is March's high crossing at 10.82 1/2. First support is the 50-day moving average crossing at 10.38 3/4. Second support is the 75% retracement level of the January-March-rally crossing at 9.87 1/4. 

May soybean meal was lower overnight as it extends the decline off April'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. Closes below the 50-day moving average crossing at 376.00 would confirm that a short-term top has been posted. If May renews the rally off March's low, March's high crossing at 404.00 is the next upside target. First resistance is April's high crossing at 393.30. Second resistance is March's high crossing at 404.00. First support is the 50-day moving average crossing at 376.00. Second support is the 50% retracement level of the January-March-rally crossing at 359.00. 

May soybean oil was higher overnight as it consolidates some of this week's loss. 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 May extends the decline off November's high, the January-2016 low crossing at 30.67 is the next downside target. Closes above the 50-day moving average crossing at 31.94 are needed to confirm that a short-term low has been posted. First resistance is April's high crossing at 32.73. Second resistance is the reaction high crossing at 32.96. First support is Monday's low crossing at 31.14. Second support is the January-2016-low crossing at 30.67.

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

June hogs closed up $1.78 at $78.53. 

June hogs closed higher on Wednesday and above the 50-day moving average crossing at 78.01. The high-range close sets the stage for a steady to higher opening when Thursday'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 June extends the reaction high, crossing at 79.60 is the next upside target. Closes below the 20-day moving average crossing at 75.37 would confirm that a short-term top has been posted. First resistance is the reaction high crossing at 79.60. Second resistance is March's high crossing at 81.33. First support is the 20-day moving average crossing at 75.37. Second support is April's low crossing at 70.25. 

June cattle closed up $0.38 at 105.28. 

June cattle closed higher on Wednesday. The low-range close sets the stage for a steady to lower opening when Thursday'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 April's low, the reaction high crossing at 106.93 is the next upside target. If June resumes the decline off February's high, the March 2017 low crossing at 96.40 is the next downside target. First resistance is the reaction high crossing at 106.93. Second resistance is the 50-day moving average crossing at 110.64. First support is the 87% retracement level of 2017's rally crossing at 99.63. Second support is the March 2017 low crossing at 96.40.

May Feeder cattle closed up at $140.68. 

May Feeder cattle closed higher on Wednesday. The mid-range close sets the stage for a steady to higher opening when Thursday'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 May extends the rally off April's low, the 50-day moving average crossing at 143.11 is the next upside target. Closes below the 20-day moving average crossing at 136.86 would confirm that a short-term top has been posted. First resistance is Monday's high crossing at 142.65. Second resistance is the 50-day moving average crossing at 143.11. First support is last Tuesday's low crossing at 134.33. Second support is April's low crossing at 128.88.   

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

May coffee closed higher on Wednesday as it consolidated some of this week's decline. The high-range close sets the stage for a steady to higher opening on Thursday. 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 January's high, weekly support crossing at 11.25 is the next downside target. Closes above the 50-day moving average crossing at 11.98 are needed to confirm that a low has been posted.      

May cocoa closed sharply higher on Wednesday as it extends the rally off December's low. The high-range close sets the stage for a steady to higher opening on Thursday. 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 December's low, the 87% retracement level of the 2016-2017-decline crossing at 29.07 is the next upside target. Closes below the 20-day moving average crossing at 25.71 would confirm that a short-term top has been posted.  

May sugar closed slightly higher on Wednesday as it consolidated some of this year's decline. The high-range close set the stage for a steady to higher opening on Thursday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends this year's decline, monthly support crossing at 10.13 is the next downside target. Closes above the 20-day moving average crossing at 12.27 are needed to confirm that a low has been posted. 

May cotton closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are neutral to bearish signaling that a short-term top might be in or is near. Closes below the 50-day moving average crossing at 81.48 are needed to confirm that a short-term top has been posted. If May resumes the rally off April's low, March's high crossing at 86.60 is the next upside target.