KEY EVENTS TO WATCH FOR:

Thursday, August 9, 2018  

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

                       Corn (Metric Tons) (previous 672.9K)

                       Soybeans (Metric Tons) (previous 1020.4K)

                       Wheat (Metric Tons) (previous 440.1K)

8:30 AM ET. July PPI

                       PPI, M/M% (expected +0.2%; previous +0.3%)

                       Ex-Food & Energy PPI, M/M% (expected +0.2%; previous +0.3%)

                       Personal Consumption (previous +0.3%)

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

                       Jobless Claims (expected 220K; previous 218K)

                       Jobless Claims, Net Chg (previous +1K)

                       Continuing Claims (previous 1724000)

                       Continuing Claims, Net Chg (previous -23K)

9:45 AM ET. Bloomberg Consumer Comfort Index

10:00 AM ET. June Monthly Wholesale Trade

                       Inventories, M/M% (expected +0.0%; previous +0.6%)

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

                       Working Gas In Storage (Cbf) (previous 2308B)

                       Working Gas In Storage, Net Chg (Cbf) (previous +35B)

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

2:00 PM ET. SEC Closed Meeting

4:30 PM ET. Federal Discount Window Borrowings

4:30 PM ET. Money Stock Measures

4:30 PM ET. Foreign Central Bank Holdings

Friday, August 10, 2018 

8:30 AM ET. July Real Earnings

8:30 AM ET. July CPI

                       CPI, M/M% (expected +0.2%; previous +0.1%)

                       Core CPI, M/M% (expected +0.2%; previous +0.2%)

                       Energy Idx, M/M% (previous -0.3%)

                       Food Idx, M/M% (previous +0.2%)

                       Real Avg Wkly Pay-Infla Adj, M/M% (previous +0.1%)

                       CPI, Y/Y% (expected +3.0%; previous +2.9%)

                       Core Annual, Y/Y% (expected +2.3%; previous +2.3%)

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

                       Corn, End Stocks (Bushels)

                       Soybeans, End Stocks (Bushels)

                       Wheat, End Stocks (Bushels)

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

Monday, August 13, 2018 

  N/A              U.S: Victory Day in Rhode Island

Tuesday, August 14, 2018 

6:00 AM ET. July NFIB Index of Small Business Optimism

                       Small Business Idx (previous 107.2)

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

                       Chain Store Sales, W/W%

                       Chain Store Sales, M/M%

8:30 AM ET. July Import & Export Price Indexes

                       Import Prices (previous -0.4%)

                       Non-Petroleum Prices (previous -0.3%)

                       Petroleum Prices (previous -0.8%)

8:55 AM ET. Johnson Redbook Retail Sales Index

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

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

                       Latest Wk, Y/Y%

11:00 AM ET. Federal Reserve Bank of New York's Q2 Household Debt and Credit Report

4:30 PM ET. API Weekly Statistical Bulletin

                       Crude Stocks, Net Chg (Bbls)

                       Gasoline Stocks, Net Chg (Bbls)

                       Distillate Stocks, Net Chg (Bbls)

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

The September NASDAQ 100 closed slightly on Wednesday as it consolidated some of the rally off last-Monday's low. Investors concerns regarding a fresh round of tariff clashes between the Trump administration and China, which helped to pressure Asian markets weighed on the index today. 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 neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends the aforementioned rally, July's high crossing at 7530.00 is the next upside target. Closes below last-Monday's low crossing at 7166.75 would confirm that a short-term top has been posted. First resistance is July's high crossing at 7530.00. Second resistance is unknown. First support is last-Monday's low crossing at 7166.75. Second support is June's low crossing at 6956.00. 

The September S&P 500 closed slightly lower on Wednesday as it consolidated some of the rally off April's low. The low-range close sets the stage for a steady to lower opening when 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 September extends this summer's rally, January's high crossing at 2885.00 is the next upside target. Closes below last-Thursday's low crossing at 2791.90 would confirm that a short-term low has been posted. First resistance is Tuesday's high crossing at 2863.00. Second resistance is January's high crossing at 2885.00. First support is last-Thursday's low crossing at 2791.90. Second support is the 50-day moving average crossing at 2782.11.  

The Dow closed lower on Wednesday as it consolidated some of the rally off last-Thursday's low. Losses were limited as they remain supported by strong corporate quarterly results and economic data that underlined a healthy economy in its ninth year of expansion. The mid-range close sets the stage for a steady opening when Thursday's night session begins trading. Stochastics and the RSI are overbought, diverging but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If the Dow extends the rally off June's low, February's high crossing at 25,800.35 is the next upside target. Closes below the 20-day moving average crossing at 25,285.22 would confirm that a short-term top has been posted. First resistance is February's high crossing at 25,800.35. Second resistance is January's high crossing at 26,616.71. First support is the 20-day moving average crossing at 25,285.22. Second support is the 50-day moving average crossing at 24,941.46.      

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

September T-bonds closed up 2/32's at 142-21.

September T-bonds closed slightly higher on Wednesday. The mid-range close sets the stage for a steady 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 above the 50-day moving average crossing at 143-29 are needed to confirm that a short-term low has been posted. If September resumes the decline off July's high, May's low crossing at 139-11 is the next downside target. First resistance is the 50-day moving average crossing at 143-29. Second resistance is July's high crossing at 146-11. First support is last-Wednesday's low crossing at 141-27. Second support is May's low crossing at 139-11.       

September T-notes closed up 15-points at 119-165.

September T-notes closed slightly higher on Wednesday. The mid-range close sets the stage for a steady 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 50-day moving average crossing at 119.256 are needed to confirm that a low has been posted. If September resumes the decline off July's high, June's low crossing at 118.295 is the next downside target. First resistance is July's high crossing at 120.200. Second resistance is May's high crossing at 121.030. First support is June's low crossing at 118.295. Second support is May's low crossing at 117.300.      

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

September crude oil closed sharply lower on Wednesday. A lower-than-expected decline in crude stockpiles triggered today's sell off. The U.S. Energy Information Administration reported that domestic crude supplies fell by 1.351 million barrels for the week ended Aug. 3. Analysts had expected a decline of 2.3 million barrels in the week. Gasoline stockpiles rose by 2.9 million barrels for the week, while distillate stockpiles added 1.2 million barrels. The low-range close sets the stage for a steady to lower opening when Thursday's night session begins. Stochastics and the RSI are turning neutral to bearish with today's selloff signaling that sideways to lower prices are possible near-term. If September resumes the decline off July's high, June's low crossing at 62.99 is the next downside target. Closes above the reaction high crossing at 69.92 would confirm that a low has been posted. First resistance is the reaction high crossing at 70.43. Second resistance is July's high crossing at 72.98.First support is July's low crossing at 66.29. Second support is June's low crossing at 62.99. 

September heating oil closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening when Thursday's night trading session begins. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends today's decline, July low crossing at 204.74 is the next downside target. Closes above the reaction high crossing at 218.57 are needed to confirm that a short-term low has been posted.First resistance is July's high crossing at 223.88. Second resistance is May's high crossing at 229.73. First support is last-Thursday's low crossing at 208.60. Second support is July's low crossing at 204.74.

September unleaded gas closed sharply lower on Wednesday following a bearish supply-demand report. 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 bearish signaling that sideways to lower prices are possible near-term. If September resumes the decline off the late-July high, July's low crossing at 197.15 is the next downside target. If September resumes the rally off July's low, July's high crossing at 215.31 is the next upside target. First resistance is July's high crossing at 215.31. Second resistance is May's high crossing at 224.67. First support is the 62% retracement level of the February-May-rally crossing at 196.03. Second support is the 75% retracement level of the February-May-rally crossing at 189.92.

September Henry natural gas closed higher on Wednesday as it extends the rally off July'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 September extends the rally off July's low, the 87% retracement level of the June-July-decline crossing at 2.973 is the next upside target.Closes below the 20-day moving average crossing at 2.776 are needed to confirm that a short-term top has been posted. First resistance is today's high crossing at 2.951. Second resistance is the 87% retracement level of the June-July-decline crossing at 2.973. First support is the 10-day moving average crossing at 2.823. Second support is the 20-day moving average crossing at 2.776.   

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

The September Dollar closed lower on Wednesday while extending the June-August trading range. 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 signaling that sideways trading is possible near-term. If September renews the rally off July's low,weekly resistance crossing at 97.70 is the next upside target. Closes below the reaction low crossing at 93.87 would confirm that a short-term top has been posted. First resistance is July's high crossing at 95.44. Second resistance is weekly resistance crossing at 97.70. First support is the reaction low crossing at 93.87. Second support is July's low crossing at 93.44.    

The September Euro closed higher on Wednesday while extending the May-July-trading range. 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 September extends this month's decline, the 62% retracement level of the 2016-2018 rally crossing at 115.36 is the next downside target. Closes above the 50-day moving average crossing at 117.34 would confirm that a short-term low has been posted. First resistance is July's high crossing at 118.52. Second resistance is June's high crossing at 119.40. First support is the 62% retracement level of the 2016-2018 rally crossing at 115.36. Second support is the 75% retracement level of the 2016-2018 rally crossing at 112.78.    

The September British Pound closed lower on Wednesday as it extends the decline off April's high. The mid-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 bearish signaling that sideways to lower prices are possible near-term. If September extends the decline off April's high, the 75% retracement level of the 2016-2018-rally crossing at 1.2857 is the next downside target. Closes above the 50-day moving average crossing at 1.3242 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 1.3119. Second resistance is the 50-day moving average crossing at 1.3242. First support is today's low crossing at 1.2872. Second support is the 75% retracement level of the 2016-2018-rally crossing at 1.2857. 

The September Swiss Franc 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 September extends the decline off last-Tuesday's high, July's low crossing at 0.9984 is the next downside target. Closes above last-Tuesday's high crossing at 1.0174 would confirm that a short-term low has been posted. First resistance is July's high crossing at 1.0204. Second resistance is June's high crossing at 1.0302. First support is July's low crossing at 0.9984. Second support is the 62% retracement level of the 20016-2018-rally on the weekly continuation chart crossing at 0.8880.

The September 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off June's low, June's high crossing at 77.94 is the next upside target. Closes below the 20-day moving average crossing at 76.44 would confirm that a short-term top has been posted. First resistance is the reaction high crossing at 77.36. Second resistance is June's high crossing at 77.94. First support is July's low crossing at 75.31. Second support is June's low crossing at 74.80.  

The September Japanese Yen 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 bullish signaling that sideways to higher prices are possible near-term. If September resumes the rally off July's low, the 50-day moving average crossing at 0.9070 is the next upside target. If September renews the decline off May's high, the December-2016 low crossing at 0.8805 is the next downside target. First resistance is the 50-day moving average crossing at 0.9070. Second resistance is the reaction high crossing at 0.9198. First support is July's low crossing at 0.8867. Second support is the December-2016 low crossing at 0.8805.   

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

October gold 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If October extends the decline off April's high, the 87% retracement level of the 2016-2018 rally crossing at 1190.90 is the next downside target. Closes above the 20-day moving average crossing at 1228.10 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 1228.10. Second resistance is July's high crossing at 1266.90. First support is last Friday's low crossing at 1207.40. Second support is the 87% retracement level of the 2016-2018 rally crossing at 1190.90.

September silver closed higher on Wednesday as it extends the trading range of the past four-weeks. The high-range close set 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 15.700 are needed to confirm that a short-term low has been posted. If September renews the decline off June's high, weekly support crossing at 15.145 is the next downside target. First resistance is the reaction high crossing at 15.700. Second resistance is July's high crossing at 16.260. First support is July's low crossing at 15.185. Second support is weekly support crossing at 15.145.        

September copper closed slightly higher on Wednesday. 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 neutral signaling that sideways trading is possible near-term. If September resumes the decline off June's high, the 62% retracement level of the 2016-2018 rally crossing at 250.74 is the next downside target. Closes above the reaction high crossing at 286.70 are needed to confirm that a short-term low has been posted. First resistance is the reaction high crossing at 286.70. Second resistance is the 50-day moving average crossing at 294.88. First support is July's low crossing at 267.35. Second support is the 62% retracement level of the 2016-2018 rally crossing at 250.74. 

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

December Corn closed up a 1/2-cent at 3.85. 

December corn closed fractionally higher on Wednesday as it extends last-week's trading range. 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 December extends the rally off July's low, the 50% retracement level of the May-July-decline crossing at 3.89 3/4 is the next upside target. Closes below the 20-day moving average crossing at 3.72 1/2 are needed to confirm that a short-term top has been posted. First resistance is the 50% retracement level of the May-July-decline crossing at 3.89 3/4. Second resistance is the 62% retracement level of the May-July-decline crossing at 3.99. First support is the 20-day moving average crossing at 3.72 1/2. Second support is July's low crossing at 3.50 1/4.  

December wheat closed up 2-cents at 5.92. 

December wheat closed higher on Wednesday. The mid-range close sets the stage for a steady 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 December extends the rally off July's low, the July-2017 high crossing at 6.22 is the next upside target. Closes below the 20-day moving average crossing at 5.48 3/4 would confirm that a short-term top has been posted. First resistance is last-Thursday's high crossing at 6.13. Second resistance is the July-2017 high crossing at 6.22. First support is the 10-day moving average crossing at 5.76 1/2. Second support is the 20-day moving average crossing at 5.48 3/4.        

December Kansas City Wheat closed up 3 1/2-cents at 6.10 3/4. 

December Kansas City wheat closed higher on Wednesday. The mid-range close sets the stage for a steady 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 December extends the rally off July's low, the July-2017 high crossing at 6.42 is the next upside target. Closes below the 20-day moving average crossing at 5.57 1/4 would confirms that a short-term top has been posted.First resistance is Tuesday's high crossing at 6.26. Second resistance is the July-2017 high crossing at 6.42. First support is 10-day moving average crossing at 5.89 1/4. Second support is the 20-day moving average crossing at 5.57 1/4. 

December Minneapolis wheat closed up 4-cents at 6.48 3/4. 

December Minneapolis 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off July's low, May's high crossing at 6.60 1/2 is the next upside target. Closes below the 20-day moving average crossing at 5.94 1/2 would confirm that a short-term top has been posted. First resistance is last-Thursday's high crossing at 6.52 1/2. Second resistance is May's high crossing at 6.60 1/2. First support is the 10-day moving average crossing at 6.26 3/4. Second support is the 20-day moving average crossing at 5.94 1/2.  

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

November soybeans closed up 5 1/4-cents at 9.11. 

November soybeans 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 November resumes the rally off July's low, the 50% retracement level of the May-July-decline crossing at 9.42 3/4 is the next upside target. Closes below the 20-day moving average crossing at 8.78 1/2 are needed to confirm that a short-term top has been posted. First resistance is the 38% retracement level of the May-July-decline crossing at 9.15. Second resistance is the 50% retracement level of the May-July-decline crossing at 9.42 3/4. First support is the 20-day moving average crossing at 8.78 1/2. Second support is July's low crossing at 8.26 1/4.

December soybean meal closed up $4.60 at 337.20. 

December soybean meal 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 December renews the rally off July's low, the 38% retracement level of the May-July-decline crossing at 348.60 is the next upside target. Closes below the 20-day moving average crossing at 330.00 would temper the friendly outlook. First resistance is the 38% retracement level of the May-July-decline crossing at 348.60. Second resistance is the 50% retracement level of the May-July-decline crossing at 356.90. First support is July's low crossing at 321.50. Second support is January's low crossing at 318.40. 

December soybean oil closed down 17-points. At 28.92. 

December soybean oil closed lower on Wednesday. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible. The low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. If December resumes the rally off July's low, the 50-day moving average crossing at 29.66 is the next upside target. Closes below last-Thursday's low crossing at 28.39 would confirm that a short-term top has been posted. First resistance is last-Tuesday's high crossing at 29.39. Second resistance is the 50-day moving average crossing at 29.66. First support is July's low crossing at 27.95. Second support is weekly support crossing at 26.99.

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

October hogs closed down $1.58 at $48.40. 

October hogs gapped down and closed lower on Wednesday as it extended this summer's decline. The low-range close sets the stage for a steady to lower opening when Thursday's 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 October extends the decline off June's high, weekly support crossing at 46.24 is the next downside target. Closes above the 20-day moving average crossing at 51.74 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 51.74. Second resistance is the reaction high crossing at 55.98. First support is today's low crossing at 48.05. Second support is weekly support crossing at 46.24.  

October cattle closed up $0.07 at 111.00. 

October cattle close slightly 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 bearish signaling that a short-term top is in or near. Closes below the 50-day moving average crossing at 108.61 would confirm that a short-term top has been posted. If October extends the rally off July's low, the 75% retracement level of the February-May-decline high crossing at 113.33 is the next upside target. First resistance is the reaction high crossing at 112.25. Second resistance is the 75% retracement level of the February-May-decline crossing at 113.33. First support is the reaction low crossing at 108.18. Second support is July's low crossing at 105.48.  

August Feeder cattle closed up $0.80 at $150.65. 

August Feeder cattle closed 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 are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at 149.71 would open the door for additional weakness near-term. If August renews the rally off May's low, is February's high crossing at 155.98 is the next upside target. First resistance is July's high crossing at 154.93. Second resistance is February's high crossing at 155.98. First support is the 50-day moving average crossing at 149.71. Second support is July's low crossing at 147.82.    

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

September coffee closed lower on Wednesday. The mid-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above last-Monday's high crossing at 11.34 would confirm that a short-term low has been posted. If September resumes the decline off June's high, monthly support crossing at 10.56 is the next downside target.      

September cocoa closed unchanged on Wednesday. The low-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are oversold but are turning neutral to bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing at 22.50 are needed to confirm that a short-term low has been posted. If September extends this summer's decline, the 87% retracement level of the December-April-rally crossing at 19.86 is the next downside target. 

October sugar closed lower on Wednesday. The mid-range close set the stage for a steady to lower opening on Thursday. Stochastics and the RSI are neutral signaling that sideways to lower prices are possible near-term. Multiple closes above the 20-day moving average crossing at 10.94 are needed to confirm that a short-term low has been posted. If October extends the decline off June's high, weekly support crossing at 10.13 is the next downside target. 

October 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 sideways to lower prices are possible near-term. If October extends decline off July's high, the reaction low crossing at 86.90 is the next downside target. If October renews the rally off July's low, the 75% retracement level of the June-July decline crossing at 92.48 is the next upside target.