INO Evening Market Comments
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Started by tallpine - Jan. 17, 2018, 4:27 p.m.

KEY EVENTS TO WATCH FOR:



Thursday, January 18, 2018  



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



                       Jobless Claims (expected 246K; previous 261K)



                       Jobless Claims, Net Chg (previous +11K)



                       Continuing Claims (previous 1867000)



                       Continuing Claims, Net Chg (previous -35K)



8:30 AM ET. December New Residential Construction - Housing Starts and Building Permits



                       Total Starts (expected 1.28M; previous 1.297M)



                       Housing Starts, M/M% (expected -1.5%; previous +3.3%)



                       Building Permits (expected 1.29M; previous 1.298M)



                       Building Permits, M/M% (expected -0.8%; previous -1.4%)



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



                       Business Activity (expected 25.0; previous 26.2)



                       Prices Paid (previous 25.4)



                       Employment (previous 18.1)



                       New Orders (previous 29.8)



                       Prices Received (previous 11.3)



                       Delivery Times (previous 10.9)



                       Inventories (previous -1.6)



                       Shipments (previous 23.4)



9:30 AM ET. IMF regular press briefing



9:45 AM ET. Bloomberg Consumer Comfort Index



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



                       Working Gas In Storage (Cbf) (previous 2767B)



                       Working Gas In Storage, Net Chg (Cbf) (previous -359B)

                       

11:00 AM ET. EIA Weekly Petroleum Status Report



                       Crude Oil Stocks (Bbl) (previous 419.515M)



                       Crude Oil Stocks, Net Chg (Bbl) (previous -4.948M)



                       Gasoline Stocks (Bbl) (previous 237.322M)



                       Gasoline Stocks, Net Chg (Bbl) (previous +4.135M)



                       Distillate Stocks (Bbl) (previous 143.088M)



                       Distillate Stocks, Net Chg (Bbl) (previous +4.254M)



                       Refinery Usage (previous 95.3%)



                       Total Prod Supplied (Bbl/day) (previous 20.639M)



                       Total Prod Supplied, Net Chg (Bbl/day) (previous +0.692M)

                       

4:30 PM ET. Money Stock Measures



4:30 PM ET. Foreign Central Bank Holdings



4:30 PM ET. Federal Discount Window Borrowings



Friday, January 19, 2018  



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



                       Corn (Metric Tons) (previous 437.7K)



                       Soybeans (Metric Tons) (previous 616.4K)



                       Wheat (Metric Tons) (previous 71.5K)



10:00 AM ET. January University of Michigan Survey of Consumers - preliminary data



                       Mid-Mo Sentiment (expected 97.0; previous 96.8)



                       Mid-Mo Expectations (previous 84.6)



                       Mid-Mo Current Idx (previous 115.9)



10:00 AM ET. ABA Economic Advisory Committee economic forecast



  N/A              Texas: Confederate Heroes Day



Monday, January 22, 2018  



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



                       NAI (previous 0.15)



                       NAI, 3-mo Moving Avg (previous 0.41)



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



The March NASDAQ 100 closed higher on Wednesday as it extends this winter's rally. The high-range close sets the stage for a steady to higher opening when Thursday'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 March extends this year's rally into uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average crossing at 6586.86 are needed to confirm that a short-term top has been posted. First resistance is Tuesday's high crossing at 6845.75. Second resistance is unknown. First support is the 10-day moving average crossing at 6698.32. Second support is the 20-day moving average crossing at 6586.86.  



The March S&P 500 closed higher on Wednesday as it extends this winter's rally. The high-range close sets the stage for a steady to higher opening when Thursday'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 March extends this winter's rally into uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average crossing at 2721.49 are needed to confirm that a short-term top has been posted. First resistance is today's high crossing at 2808.00. Second resistance is unknown. First support is the 10-day moving average crossing at 2757.43. Second support is the 20-day moving average crossing at 2721.49. 



The Dow closed higher on Wednesday and above 26,000 as it extends this year's rally into record territory. The high-range close sets the stage for a steady to higher opening when Thursday'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 the Dow extends this year's rally into uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average crossing at 25,114.80 would confirm that a short-term top has been posted. First resistance is today's high crossing at 26,130.45. Second resistance is unknown. First support is the 10-day moving average crossing at 25,461.80. Second support is the 20-day moving average crossing at 25,116.46.   



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



March T-bonds closed down 12/32's at 150-14.



March T-bonds closed lower on Wednesday as it consolidated some of this month's decline. 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 a low might be in or is near. Closes above the 20-day moving average crossing at 151-15 would confirm that a short-term low has been posted. If March resumes the decline off December's high, weekly support crossing at 145-26 is the next downside target.First resistance is the reaction high crossing at 153-03. Second resistance is December's high crossing at 154-18. First support is last Wednesday's low crossing at 149-03. Second support is weekly support crossing at 145-26.   



March T-notes closed down 95/32's at 122-220.



March T-notes closed lower on Wednesday as it extends the decline off September's high. 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 123.152 are needed to confirm that a low has been posted. If March extends the aforementioned decline, weekly support crossing at 122.145 is the next downside target. First resistance is the 20-day moving average crossing at 123.152. Second resistance is the 50-day moving average crossing at 124.040. First support is today's low crossing at 122.200. Second support is weekly support crossing at 122.145.   



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



February crude oil closed slightly higher on Wednesday as it consolidates around the 50% retracement level of the 2014-2016-decline crossing at 64.11.Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. The high-range close sets the stage for a steady to higher opening when Thursday's night session begins. If February extends this winter's rally, the 62% retracement level of the 2014-2016-decline crossing at 70.21 is the next upside target. Closes below the 20-day moving average crossing at 60.97 would confirm that a short-term top has been posted. First resistance is Tuesday's high crossing at 64.89. Second resistance is the 62% retracement level of the 2014-2016-decline crossing at 70.21. First support is the 10-day moving average crossing at 63.00. Second support is the 20-day moving average crossing at 60.97. 



February heating oil closed slightly higher on Wednesday. The mid-range close sets the stage for a steady opening when Thursday's night trading session begins. 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 203.48 would confirm that a short-term top has been posted. If February extends the rally off October's low, the 87% retracement level of the 2014-2016-decline crossing at 222.40 is the next upside target. First resistance is the 75% retracement level of the 2014-2016-decline crossing at 208.60. Second resistance is the 87% retracement level of the 2014-2016-decline crossing at 222.40. First support is the 20-day moving average crossing at 203.48. Second support is the 50-day moving average crossing at 196.80.   



February unleaded gas closed higher on Wednesday. The high-range close sets the stage for a steady to higher opening when Thursday'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 February extends the rally off December's low, weekly resistance crossing at 192.35 is the next upside target. Closes below the 50-day moving average crossing at 176.34 would confirm that a short-term top has been posted. First resistance is today's high crossing at 186.67. Second resistance is weekly resistance crossing at 192.35. First support is the 20-day moving average crossing at 179.17. Second support is the 50-day moving average crossing at 176.34.   



February Henry natural gas closed 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 when Thursday'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 February extends the rally off December's low, November's high crossing at 3.320 is the next upside target. Closes below the 20-day moving average crossing at 2.890 are needed to confirm that a short-term top has been posted. First resistance is November's high crossing at 3.320. Second resistance is September's high crossing at 3.446. First support is the 10-day moving average crossing at 3.010. Second support is the 20-day moving average crossing at 2.890. 



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



The March Dollar closed higher due to short covering on Wednesday. The high-range close sets the stage for a steady to higher opening when Thursday'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 March extends the decline off December's high, weekly support crossing at 87.45 is the next downside target. Closes above the 20-day moving average crossing at 91.92 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 91.92. Second resistance is the 50-day moving average crossing at 92.75. First support is today's low crossing at 89.96. Second support is weekly support crossing at 87.45.



The March Euro closed lower on Wednesday as it consolidates some of the rally off November's low. 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the aforementioned rally, weekly resistance crossing at 125.34 is the next upside target. Closes below the 20-day moving average crossing at 120.42 would confirm that a short-term top has been posted. First resistance is today's high crossing at 123.68. Second resistance is weekly resistance crossing at 125.34. First support is the 20-day moving average crossing at 120.42. Second support is the 50-day moving average crossing at 119.28.     



The March British Pound closed higher on Wednesday as it extends the rally off November's low. The mid-range close sets the stage for a steady to higher opening when Thursday'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 March extends the rally off November's low, the 38% retracement level of the 2014-2016-decline crossing at 1.4057 is the next upside target. Closes below the 20-day moving average crossing at 1.3559 would confirm that a short-term top has been posted. First resistance is today's high crossing at 1.3972. Second resistance is the 38% retracement level of the 2014-2016-decline crossing at 1.4057. First support is the 20-day moving average crossing at 1.3559. Second support is the 50-day moving average crossing at 1.3434.     



The March Swiss Franc closed lower on Wednesday as it consolidates some of the rally off October's low. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. The low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. If March extends the rally off October's low, the 75% retracement level of the July-September-decline crossing at 1.0588 is the next upside target. Closes below the 50-day moving average crossing at 1.0227 are needed to confirm that a short-term top has been posted. First resistance is the 62% retracement level of the July-September-decline crossing at 1.0494. Second resistance is the 75% retracement level of the July-September-decline crossing at 1.0588. First support is the 10-day moving average crossing at 1.0326. Second support is the 50-day moving average crossing at 1.0227.  



The March Canadian Dollar closed higher on Wednesday. The high-range close sets the stage for a steady to higher opening when Thursday'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 March resumes the rally off December's low, the 75% retracement level of the September-December-decline crossing at 81.41 is the next upside target. Closes below the 20-day moving average crossing at 79.55 are needed to confirm that a short-term top has been posted. First resistance is last Friday's high crossing at 81.00. Second resistance is the 75% retracement level of the September-December-decline crossing at 81.41. First support is the 20-day moving average crossing at 79.55. Second support is the 50-day moving average crossing at 78.86.  



The March Japanese Yen closed sharply lower due to profit taking on Wednesday as it consolidates some of this month's rally. 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 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 62% retracement level of the September-November-decline crossing at 0.9142 is the next upside target. Closes below the 50-day moving average crossing at 0.8926 would confirm that a short-term top has been posted. First resistance is today's high crossing at 0.9104. Second resistance is the 62% retracement level of the September-November-decline crossing at 0.9142. First support is January's low crossing at 0.8849. Second support is December's low crossing at 0.8840.   



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



February gold closed lower due to profit taking on Wednesday as it consolidates some of the rally off December's low. 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 overbought but remain neutral to bullish signaling that sideways to higher price are possible near-term. If February extends the aforementioned rally, the 87% retracement level of the September-December-decline crossing at 1349.30 is the next upside target. Closes below the 20-day moving average crossing at 1304.40 would confirm that a short-term top has been posted. First resistance is Tuesday's high crossing at 1345.00. Second resistance is the 87% retracement level of the September-December-decline crossing at 1349.30. First support is the 10-day moving average crossing at 1323.90. Second support is the 20-day moving average crossing at 1304.40.



March silver closed lower on Wednesday. The low-range close set the stage for a steady to lower opening when Thursday'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 the 20-day moving average crossing at 16.853 are needed to confirm that a short-term top has been posted. If March extends the rally off December's low, the 75% retracement level of the September-November-decline crossing at 17.686 is the next upside target. First resistance is the 62% retracement level of the September-December-decline crossing at 17.325. Second resistance is the 75% retracement level of the September-November-decline crossing at 17.686. First support is the 20-day moving average crossing at 16.853. Second support is the reaction low crossing at 16.140.     



March copper closed lower 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 bearish signaling that sideways to lower prices are possible near-term. If March extends this month's decline, the 50-day moving average crossing at 314.50 is the next downside target. If March resumes the rally off December's low, the August-2013 high crossing at 334.05 is the next upside target. First resistance is December's high crossing at 332.20. Second resistance is the August-13 high crossing at 334.05. First support is today's low crossing at 317.85. Second support is the 50-day moving average crossing at 314.50.       



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



March Corn closed up 4-cents at 3.52 1/4. 



March corn closed higher on Wednesday. The high-range close sets the stage for a steady to higher opening when Thursday'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 reaction high crossing at 3.54 3/4 are needed to confirm that a short-term low has been posted. Closes below December's low crossing at 3.46 1/2 would renew the decline off last year's high while opening the door for a possible test of weekly support crossing at 3.32. First resistance is the reaction high crossing at 3.54 3/4. Second resistance is December's high crossing at 3.60 1/2. First support is December's low crossing at 3.46 1/2. Second support is weekly support crossing at 3.32. 



March wheat closed up 5-cents at 4.21 1/2. 



March wheat closed higher on Wednesday.The high-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off last Friday's high, December's low crossing at 4.10 1/2 is the next downside target. Closes above the reaction high crossing at 4.37 are needed to confirm that a short-term low has been posted. First resistance is the reaction high crossing at 4.37. Second resistance is December's high crossing at 4.60 3/4. First support is December's low crossing at 4.10 1/2. Second support is psychological support crossing at 4.00.    



March Kansas City Wheat closed up 5-cents at 4.27. 



March Kansas City wheat closed higher on Wednesday as it consolidates some of this week's decline but remains below the 20-day moving average crossing at 4.29 1/2. 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 March extends this week's decline, December's low crossing at 4.10 1/2 is the next downside target. If March resumes the rally off December's low, November's high crossing at 4.51 1/2 is the next upside target. First resistance is last Friday's high crossing at 4.43. Second resistance is November's high crossing at 4.51 1/2. First support is the reaction low crossing at 4.17 1/4. Second support is December's low crossing at 4.10 1/2.   



March Minneapolis wheat closed up a 1/4-cents at 6.11 3/4. 



March Minneapolis wheat closed fractionally 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the aforementioned decline, December's low crossing at 6.05 is the next downside target. If March renews the rally off December's low, the reaction high crossing at 6.51 is the next upside target. First resistance is last Wednesday's high crossing at 6.34 1/2. Second resistance is the reaction high resistance crossing at 6.51. First support is December's low crossing at 6.05. 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 closed up 1 1/4-cents at 9.69 1/4. 



March soybeans closed higher on Wednesday as it extends the rally off last Friday's low. The high-range close sets the stage for a steady to higher 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. Closes above the reaction high crossing at 9.77 are needed to confirm that a short-term low has been posted. If March extends the decline off December's high, August low crossing at 9.37 1/2 is the next downside target. First resistance is the reaction high crossing at 9.77. Second resistance is the 50-day moving average crossing at 9.85. First support is last Friday's low crossing at 9.44 1/2. Second support is August's low crossing at 9.37 1/2.



March soybean meal closed up $1.80 at 324.60. 



March soybean meal closed higher on Wednesday and above above the 50-day moving average crossing at 324.00. The high-range close sets the stage for a steady to higher 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. Multiple closes above the 50-day moving average crossing at 324.00 are needed to confirm that a low has been posted. If March renews the decline off December's high, the 87% retracement level of the August-December-rally crossing at 305.70 is the next downside target. First resistance is the 50-day moving average crossing at 324.00. Second resistance is the reaction high crossing at 331.20. First support is the 75% retracement level of the August-December-rally crossing at 312.00. Second support is the 87% retracement level of the August-December-rally crossing at 305.70.



March soybean oil closed down 30 pts. At 32.49. 



March soybean oil closed lower on Wednesday and below December's low crossing at 32.52 thereby renewing the decline off November's high.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 bearish signaling that sideways to lower prices are possible near-term. If March extends this month's decline, last June's low crossing at 31.85 is the next downside target. If March resumes the rally off December's low, the 50-day moving average crossing at 33.94 is the next upside target. First resistance is the 50-day moving average crossing at 33.88. Second resistance is the reaction high crossing at 34.89. First support is last June's low crossing at 31.85. Second support is the 87% retracement level of the June-September-rally crossing at 32.44. 



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



February hogs closed down $1.18 at $72.73. 



February hogs closed sharply lower on Wednesday as it consolidates some of the rally off December's low. The low-range close sets the stage for a steady to lower opening when Thursday's session begins trading. Stochastics and the RSI are diverging but are neutral to bullish signaling that sideways to higher prices are possible near-term. If February extends the rally off December's low, weekly resistance crossing at 76.91 is the next upside target. Closes below the 20-day moving average crossing at 70.97 would confirm that a short-term top has been posted. First resistance is Tuesday's high crossing at 74.25. Second resistance is weekly resistance crossing at 76.91. First support is the 20-day moving average crossing at 70.97. Second support is the 50-day moving average crossing at 69.91. 



February cattle closed up $2.88 at 120.98. 



February cattle closed sharply higher on Wednesday as it consolidates some of this month's decline. The high-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. Today's close above the 20-day moving average crossing at 119.88 confirms that a short-term low has been posted. If February extends the aforementioned decline, the 75% retracement level of the August-November-rally crossing at 115.05 is the next downside target. First resistance is the 50-day moving average crossing at 122.34. Second resistance is January's high crossing at 123.63. First support is the 75% retracement level of the August-November-rally crossing at 115.05. Second support is the 87% retracement level of the August-November-rally crossing at 112.35.

 

March Feeder cattle closed up $2.05 at $145.98. 



March Feeder cattle closed sharply higher on Wednesday. The high-range close sets the stage for a steady to higher opening when Thursday's session begins trading. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 147.31 are needed to confirm that a low has been posted. If March extends this month's decline, December's low crossing at 138.30 is the next downside target. First resistance is the 50-day moving average crossing at 147.31. Second resistance is the reaction high crossing at 154.05. First support is last Tuesday's low crossing at 140.12. Second support is December's low crossing at 138.30.   



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



March coffee closed higher due to short covering on Wednesday as it consolidates some of this month's decline. 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 March extends this month's decline, December's low crossing at 11.83 is the next downside target. Closes above the 50-day moving average crossing at 12.58 are needed to confirms that a short-term low has been posted. 



March cocoa closed higher on Wednesday and above the 50-day moving average crossing at 19.92. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Multiple closes above the 50-day moving average crossing at 19.92 would confirm that a short-term low has been posted. If March renews the decline off November's high, weekly support crossing at 17.91 is the next downside target. 



March sugar closed sharply lower on Wednesday as it extended this month's decline. The low-range close set the stage for a steady to lower 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 March extends this month's decline, the September-2015 low crossing at 12.72 is the next downside target. Closes above the 50-day moving average crossing at 14.69 would confirm that a short-term low has been posted.



March cotton closed higher on Wednesday. The low-range close sets the stage for a steady to higher 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 20-day moving average crossing at 78.62 are needed to confirm a short-term top has been posted. If March extends the rally off October's low, weekly resistance crossing at 87.18 is the next upside target. 

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