KEY EVENTS TO WATCH FOR:

Tuesday, April 24, 2018 

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

                       Chain Store Sales, W/W% (previous +0.3%)

                       Chain Store Sales, M/M% (previous +3.8%)

8:55 AM ET. Johnson Redbook Retail Sales Index

                       Ret Sales Mo-to-Date, M/M% (previous +0.5%)

                       Ret Sales Mo-to-Date, Y/Y% (previous +3.0%)

                       Latest Wk, Y/Y% (previous +3.0%)

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

                       10-City Idx, M/M% (previous +0.3%)

                       10-City Idx, Y/Y% (previous +6%)

                       20-City Idx, M/M% (previous +0.3%)

                       20-City Idx, Y/Y% (expected +6.3%; previous +6.4%)

                       National Idx, M/M% (previous +0%)

                       National Idx, Y/Y% (previous +6.2%)

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

10:00 AM ET. March New Residential Sales

                       New Home Sales (expected 628K; previous 618K)

                       New Home Sales, M/M% (expected +1.6%; previous -0.6%)

                       New Home Sales Months Supply (previous 5.9)

10:00 AM ET. April Consumer Confidence Index

                       Cons Conf Idx (expected 126.0; previous 127.7)

                       Expectation Idx (previous 106.2)

                       Present Situation Idx (previous 159.9)

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

                       Mfg Idx (previous 15)

                       Retail Revenues Idx

                       Services Rev Idx

                       Shipments Idx (previous 15)

4:30 PM ET. API Weekly Statistical Bulletin

                       Crude Stocks, Net Chg (Bbls) (previous -1.0M)

                       Gasoline Stocks, Net Chg (Bbls) (previous -2.5M)

                       Distillate Stocks, Net Chg (Bbls) (previous -0.9M)

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

The June NASDAQ 100 closed lower on Monday as it consolidated some of the rally off April's low. The mid-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 20-day moving average crossing at 6621.71 are needed to confirm that a short-term top has been posted. If June renews the rally off April's low, the reaction high crossing at 6951.00 is the next upside target. 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 6621.71. Second support is April's low crossing at 6306.75.  

The June S&P 500 closed lower on Monday as it consolidates some of the rally off April's low. The mid-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 20-day moving average crossing at 2649.61 are needed to confirm that a short-term top has been posted. If June renews the rally off April's low, the reaction high crossing at 2741.00 is the next upside target. 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 2649.61. Second support is April's low crossing at 2554.00. 

The Dow closed lower on Monday as it consolidated some of the rally off April's low. The mid-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 20-day moving average crossing at 24,268.97 would confirm that a short-term top has been posted. If the Dow renews the rally off April's low, the reaction high crossing at 24,977.65 is the next upside target. First resistance is the reaction high crossing at 24,977.65. Second resistance is March's high crossing at 25,449.15. First support is the 20-day moving average crossing at 24,268.97. Second support is April's low crossing at 23,344.52.      

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June T-bonds closed down 5/32's at 142-30.

June T-bonds closed lower on Monday as it extends the decline off April's high. 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends the aforementioned decline, February's low crossing at 141-14 is the next downside target. Closes above the 20-day moving average crossing at 145-09 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 145-09. Second resistance is the 50% retracement level of the December-February-decline crossing at 147-14. First support is today's low crossing at 142-09. Second support is February's low crossing at 141-14.     

June T-notes closed down 75 pts at 119-100.

June T-notes closed lower on Monday as it extended the decline off April's high. The mid-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends the decline off April's high, weekly support crossing at 117.180 is the next downside target. Closes above the 20-day moving average crossing at 120.175 would confirm that a short-term low has been posted. First resistance the 20-day moving average crossing at 120.175. Second resistance is April's high crossing at 121.110. First support is today's low crossing at 119.065. Second resistance is weekly support crossing at 117.180.     

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 June extends the rally off February's low, the 50% retracement level of the 2014-2016-decline crossing at 72.85 is the next upside target. Closes below the 20-day moving average crossing at 62.79 would confirm that a short-term top has been posted. First resistance is last Friday's high crossing at 69.55. Second resistance is the 50% retracement level of the 2014-2016-decline crossing at 72.85.First support is the 20-day moving average crossing at 62.79. Second support is April's low crossing at 57.29. 

June heating oil closed higher on Monday as it extends this year's rally. 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 but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off February's low, weekly resistance crossing at 216.58 is the next upside target. Closes below the 20-day moving average crossing at 198.10 are needed to confirm that a short-term top has been posted.First resistance is today's high crossing at 213.88. Second resistance is weekly resistance crossing at 216.58. First support is the 20-day moving average crossing at 198.10. Second support is the 50-day moving average crossing at 179.67.  

June unleaded gas closed higher on Monday as it extends the rally off April'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 June extends the rally off February's low, monthly resistance crossing at 217.77 is the next upside target. Closes below the 20-day moving average crossing at 202.46 would confirm that a short-term top has been posted. First resistance is today's high crossing at 213.27. Second resistance is monthly resistance crossing at 217.77. First support is the 20-day moving average crossing at 199.73. Second support is the 50-day moving average crossing at 183.06.

June Henry natural gas closed slightly higher on Monday as it extends this month's 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 signaling that sideways trading is possible near-term. Closes above the 50-day moving average crossing at 2.836 would open the door for a possible test of March's high crossing at 3.020. If June renews the decline off March's high, February's low crossing at 2.638 is the next downside target. First resistance is last Wednesday's high crossing at 2.818. Second resistance is March's high crossing at 2.873. First support is April's low crossing at 2.660. Second support is February's low crossing at 2.638.  

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

The June Dollar closed higher on Monday and above the upper boundary of this year's trading range crossing at 90.49.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. Multiple closes above 90.49 are needed to confirm today's upside breakout of the aforementioned trading range. 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 the late-March low crossing at 88.53. Second support is February's low crossing at 87.83. 

The June Euro closed lower on Monday and below trading range support marked by March's low crossing at 122.54. 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. If June extends today's decline, the 50% retracement of the November-February-rally crossing at 121.97 is the next downside target. Closes above April's high crossing at 124.68 would confirm that a short-term low has been posted. First resistance is March's high crossing at 125.54. Second resistance is February's high crossing at 126.58. First support is today's low crossing at 122.47. Second support is the 50% retracement level of the November-February-rally crossing at 121.97.    

The June British Pound closed lower on Monday as it extends the decline off April's high. 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends the aforementioned decline, the reaction low crossing at 1.3945 is the next downside target. Closes above the 10-day moving average crossing at 1.4205 would confirm that a short-term low has been posted. First resistance is April's high crossing at 1.4413. Second resistance is the 50% retracement level of the 2014-2016-decline crossing at 1.4617. First support is the reaction low crossing at 1.3945. Second support is March's low crossing at 1.3779. 

The June Swiss Franc closed lower on Monday as it extends the decline off February's high. 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 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 1.0466 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 1.0405. Second resistance is the 20-day moving average crossing at 1.0466. First support is today's low crossing at 1.0262. Second support is the 87% retracement level of the November-February-rally crossing at 1.0241. 

The June Canadian Dollar closed sharply lower on Monday as it extended the decline off April's high. 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. If June extends the aforementioned decline, the reaction low crossing at 77.35 is the next downside target. Closes above the 10-day moving average crossing at 79.21 would confirm that a short-term low has been posted. First resistance is April's high crossing at 79.92. Second resistance is the reaction high crossing at 80.45. First support is the reaction low crossing at 77.35. Second support is March's low crossing at 76.33.  

The June Japanese Yen closed sharply lower on Monday as it extended the decline off March's high. 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends the aforementioned decline, the 62% retracement level of the October-March-rally crossing at 0.9148 is the next downside target. Closes above the 20-day moving average crossing at 0.9395 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 0.9395. Second resistance is the reaction high crossing at 0.9511. First support is today's low crossing at 0.9227. Second support is the 62% retracement level of the October-March-rally crossing at 0.9148.   

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

June gold closed lower on Monday due to strength in the US Dollar. 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. Today's close below the 50-day moving average crossing at 1337.10 confirms that a short-term top has been posted. If June extends today's decline, the reaction low crossing at 1312.40 is the next downside target. First resistance is last Wednesday's high crossing at 1369.40. Second resistance is April's high crossing at 1369.40. First support is the 50% retracement level of the December-January-rally crossing at 1311.50. Second support is the 62% retracement level of the December-January-rally crossing at 1296.30.

May silver closed sharply lower on Monday. The low-range close set the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Multiple loses below the 20-day moving average crossing at 16.614 would confirm that a short-term top has been posted. If May renews the rally off April's low, the reaction high crossing at 17.460 is the next upside target.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 16.614. Second support is April's low crossing at 16.150.       

May copper 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 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 306.96 would confirm that a short-term top has been posted. If May renews the rally off March's low, February's high crossing at 329.05 is the next upside target. First resistance is last Thursday's high crossing at 319.55. Second resistance is February's high crossing at 329.05. First support is the 20-day moving average crossing at 306.96. Second support is April's low crossing at 297.00.   

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

May Corn closed up 2-cents at 3.78 1/2. 

May corn closed higher on Monday as it consolidates some of the decline off April's high. 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 May extends the decline off April's high, the 50% retracement level of the January-March-rally crossing at 374 1/2 is the next downside target. Closes above the 20-day moving average crossing at 3.83 1/4 would signal that a short-term low has been posted. If May resumes the rally off March's low, March's high crossing at 3.95 1/4 is the next upside target. First resistance is April's high crossing at 3.92 1/2. Second resistance is April's high crossing at 3.92 1/2. Second resistance is March's high crossing at 3.95 1/4. First support is the 50% retracement level of the January-March-rally crossing at 3.74 1/2. Second support is the 62% retracement level of the January-March-rally crossing at 369 1/2.  

May wheat closed down 1-cent at 4.62 1/4. 

May wheat closed lower on Monday extending the decline off April's high.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 bearish signaling that sideways to lower prices are possible near-term. Closes below last Monday's low crossing at 4.61 1/2 would open the door for a possible test of March's low crossing at 4.41 1/2. If May resumes the rally off March's low, the reaction high crossing at 4.98 is the next upside target. First resistance is the reaction high crossing at 4.98. Second resistance is March's high crossing at 5.18 1/2. First support is today's low crossing at 4.58 3/4. Second support is March's low crossing at 4.41 1/2.       

May Kansas City Wheat closed up a 1/2-cent at 4.83 1/4. 

May Kansas City wheat closed fractionally higher 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. If May renews the decline off April's high, April's low crossing at 4.56 is the next downside target. Closes above the 50-day moving average crossing at 4.97 1/2 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 last Tuesday's low crossing at 4.76. Second support is March's low crossing at 4.56.

May Minneapolis wheat closed down 12-cents at 5.88. 

May Minneapolis wheat closed lower on Monday as it extends the decline off April's high. 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. If May extends today's decline, April's low crossing at 5.71 is the next downside target. Closes above the 10-day moving average crossing at 6.13 1/4 would confirm that a short-term low has been posted. First resistance is April's high crossing at 6.34. Second resistance is March's high crossing at 6.36. First support is today's low crossing at 5.87 3/4. Second support is April's low crossing at 5.71.  

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

May soybeans closed down 8 3/4-cents at 10.20. 

May soybeans closed lower on Monday as it extends the decline off April's high. The low-range close sets the stage for a steady to lower opening with 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 May extends the aforementioned decline, April's low crossing at 9.83 1/2 is the next downside target. Closes above the 10-day moving average crossing at 10.42 3/4 would confirm that a short-term low has been posted. First resistance is April's high crossing at 10.67 1/4. Second resistance is March's high crossing at 10.82 1/2. First support is the reaction low crossing at 10.03. Second support is April's low crossing at 9.83 1/2.

May soybean meal closed down $2.20 at 371.90. 

May soybean meal closed lower on Monday as it extended the decline off April's high. 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. If May extends today's decline, April's low crossing at 363.70 is the next downside target. If May resumes 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 389.70. Second resistance is March's high crossing at 404.00. First support is the 38% retracement level of the January-March-rally crossing at 369.60. Second support is April's low crossing at 363.70.  

May soybean oil closed down 37 pts. At 30.96. 

May soybean oil 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 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, the January-2016 low crossing at 30.67 is the next downside target. Closes above the 50-day moving average crossing at 31.88 would confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 31.88. Second resistance is the reaction high crossing at 32.73. First support is today's low crossing at 30.89. Second support is the January-2016 low crossing at 30.67.

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

June hogs closed down $1.18 at $76.38. 

June hogs closed lower on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday's session begins trading. Stochastics and the RSI are overbought but are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 75.62 would confirm that a short-term top has been posted. If June extends the rally off April's low, the reaction high, crossing at 79.60 is the next upside target. 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 75.62. Second support is April's low crossing at 70.25. 

June cattle closed up $1.15 at 104.87. 

June cattle 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 turning 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 109.93. 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 $1.28 at $140.60. 

May Feeder cattle closed higher on Monday. The mid-range close sets the stage for a steady to higher opening when Tuesday's session begins trading. Stochastics and the RSI are neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 137.14 would confirm that a short-term top has been posted. If May extends the rally off April's low, the 50-day moving average crossing at 142.53 is the next upside target. First resistance is last Monday's high crossing at 142.65. Second resistance is the 50-day moving average crossing at 142.53. First support is the reaction 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 Monday. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are neutral to bullish signaling that a low might be in or is near. Closes above the 50-day moving average crossing at 11.93 are needed to confirm that a low has been posted. If May resumes the decline off January's high, weekly support crossing at 11.25 is the next downside target.      

May cocoa closed lower on Monday. 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 26.02 would confirm that a short-term top has been posted. 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.  

May sugar closed sharply lower on Monday as it extended this year's decline. The low-range close set 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 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 12.10 are needed to confirm that a low has been posted. 

May cotton closed sharply lower on Monday after marking a potential double top with March's high. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are turning neutral to bearish with today's decline signaling that a double top with March's high might have been posted with today's high. Closes below the 50-day moving average crossing at 81.87 are needed to confirm that a short-term top has been posted. If May extends the rally off April's low, March's high crossing at 86.60 is the next upside target.