KEY EVENTS TO WATCH FOR:

Friday, September 21, 2018 

9:45 AM ET. September US Flash Services PMI

                       PMI, Services (expected 55.0; previous 55.2)

9:45 AM ET. September US Flash Manufacturing PMI

                       PMI, Mfg (expected 55.0; previous 54.5)

Monday, September 24, 2018   

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

                       NAI (previous 0.13)

                       NAI, 3-mo Moving Avg (previous 0.05)

10:30 AM ET. September Texas Manufacturing Outlook Survey

                       Business Activity (previous 30.9)

                       Mfg Production Idx (previous 29.3)

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

The December NASDAQ 100 closed higher on Thursday. The high-range close sets the stage for a steady to higher opening when Friday'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 today's low, August's high crossing at 7723.50 is the next upside target. Closes below the reaction low crossing at 7420.50 would confirm that a short-term top has been posted while opening the door for additional weakness and a possible test of the reaction low crossing at 7316.50. First resistance is August's high crossing at 7723.50. Second resistance is unknown. First support is the reaction crossing at 7422.50. Second support is the reaction low crossing at 7343.25. 

The December S&P 500 closed sharply higher on Thursday as it renewed this year's rally. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are becoming overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends this summer's rally into uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average low crossing at 2899.66 are needed to confirm that a short-term top has been posted. First resistance is today's high crossing at 2938.30. Second resistance is unknown. First support is the 20-day moving average crossing at 2899.66. Second support is the 50-day moving average crossing at 2860.01.  

The Dow gapped up and closed sharply higher on Thursday and above January's high crossing at 26,616.71 thereby renewing the rally into uncharted territory. The high-range close sets the stage for a steady to higher opening when Friday'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 the rally off April's low, upside targets will be hard to project. Closes below last-Tuesday's low crossing at 25,754.32 would confirm that an important top has been posted. First resistance is today's high crossing at 26,680.13. Second resistance is unknown. First support is today's gap crossing at 26,464.41. Second support is last-Tuesday's low crossing at 25,754.32.

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December T-bonds closed up 1/32's at 140-13.

December T-bonds posted an inside day with a higher close on Thursday as it consolidated some of the decline off August's high. The high-range close sets the stage for a steady to higher opening when Friday'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 December extends the decline off August's high, May's low crossing at 138-28 is the next downside target. Closes above the 50-day moving average crossing at 143-01 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 141-21. Second resistance is the 50-day moving average crossing at 143-01. First support is Wednesday's low crossing at 139-23. Second support is May's low crossing at 138-28.        

December T-notes closed down 10-points at 118-205.

December T-notes closed lower on Thursday as it extends the decline off August's high. The mid-range close sets the stage for a steady to lower opening when Friday'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 December extends the decline off August's high, May's low crossing at 118.000 is the next downside target. Closes above the 20-day moving average crossing at 119.213 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 119.056. Second resistance is the 20-day moving average crossing at 119.213. First support is today's low crossing at 118.140. Second support is May's low crossing at 118.000.        

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

October crude oil closed lower on Thursday. The low-range close sets the stage for a steady to lower opening when Friday's night session begins. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If October renews the rally off August's low, the 75% retracement level of the 2014-2016-decline crossing at 77.23 is the next upside target. Closes below the 50-day moving average crossing at 67.77 would confirm that a short-term top has been posted while opening the door for additional weakness near-term. First resistance is today's high crossing at 71.81. Second resistance isthe 75% retracement level of the 2014-2016-decline crossing at 77.23.First support is the 50-day moving average crossing at 67.77. Second support is September's low crossing at 66.86.  

October heating oil closed lower on Thursday. The low-range close sets the stage for a steady to lower opening when Friday's night trading session begins. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If October renews the rally off August's low, the December-2014 high crossing at 237.25 is the next upside target. Closes below the 50-day moving average crossing at 217.01 would confirm that a short-term top has been posted. First resistance is September's high crossing at 230.93. Second resistance is the December-2014 high crossing at 237.25. First support is the 50-day moving average crossing at 217.01. Second support is August's low crossing at 208.05.

October unleaded gas closed lower on Thursday. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If October renews the rally off August's low, May's high crossing at 211.50 is the next upside target. Closes below the reaction low crossing at 192.60 would confirm that a short-term top has been posted. First resistance is September's high crossing at 206.24. Second resistance is May's high crossing at 211.50. First support is the reaction low crossing at 192.60. Second support is August's low crossing at 186.62.

October Henry natural gas closed higher on Thursday as it extended the rally off September's low. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are becoming overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If October extends the aforementioned rally, June's high crossing at 3.025 is the next upside target. Closes below the 10-day moving average crossing at 2.934 would confirm that a short-term top has been posted. First resistance is today's high crossing at 2.991. Second resistance is June's high crossing at 3.025. First support is September's low crossing at 2.752. Second support is July's low crossing at 2.688.    

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

The December Dollar closed lower on Thursday as it extends the decline off August's high. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off August's high, July's low crossing at 93.04 is the next downside target. Closes above the 50-day moving average crossing at 94.55 would confirm that a short-term low has been posted. First resistance is September's high crossing at 95.28. Second resistance is August's high crossing at 96.45. First support is July's low crossing at 93.04. Second support is the 38% retracement level of the February-August-rally crossing at 92.92.    

The December Euro closed higher on Thursday as it renewed the rally off August'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. If December extends the rally off August's low, July's high crossing at 119.36 is the next upside target. Closes below last-Monday's low crossing at 116.12 is needed to confirm that a short-term top has been posted. First resistance is the reaction high crossing at 118.80. Second resistance is July's high crossing at 119.36. First support is last-Monday's low crossing at 116.12. Second support is August's low crossing at 114.09.     

The December British Pound closed higher on Thursday as it extends the rally off August's low. The high-range close sets the stage for a steady to higher opening when Friday'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 August's low, July's high crossing at 1.3435. Closes below the 20-day moving average crossing at 1.3058 would temper the near-term friendly outlook. First resistance is July's high crossing at 1.3435. Second resistance is June's high crossing at 1.3586. First support is September's low crossing at 1.2845. Second support is August's low crossing at 1.2735.  

The December Swiss Franc closed higher on Thursday as it extends the rally off July's low. The high-range close sets the stage for a steady to higher opening when Friday'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 extends the rally off August's low, the 50% retracement level of the February-July-decline crossing at 1.0605 is the next upside target. Closes below the 20-day moving average crossing at 1.0390 would confirm that a short-term top has been posted. First resistance is today's high crossing at 1.0507. Second resistance is the 50% retracement level of the February-July-decline crossing at 1.0605. First support is the 20-day moving average crossing at 1.0390. Second support is the 50-day moving average crossing at 1.0264. 

The December Canadian Dollar closed higher on Thursday as it extends the rally off September's low. The mid-range close sets the stage for a steady to higher opening when Friday'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 September's low crossing at 75.75, the 38% retracement level of the 2017-2018 decline crossing at 77.84 is the next upside target. Closes below the 50-day moving average crossing at 76.68 would confirm that a short-term top has been posted. First resistance is today's high crossing at 77.75. Second resistance is the 38% retracement level of the 2017-2018 decline crossing at 77.84. First support is September's low crossing at 75.75. Second support is July's low crossing at 75.47.   

The December Japanese Yen closed lower on Thursday as it extends this month's decline. The low-range close sets the stage for a steady to lower opening when Friday’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 December extends the decline off August's high, the December-2016 low crossing at 0.0886 is the next downside target. Closes above the 50-day moving average crossing at 0.0905 would temper the near-term bearish outlook. First resistance is September's high crossing at 0.0912. Second resistance is August's high crossing at 0.0918. First support is today's low crossing at 0.0894. Second support is the December-2016 low crossing at 0.0886.

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

October gold closed higher on Thursday as it extends the trading range of the past four-weeks.The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher are possible near-term. If October resumes the rally off August's low, the reaction high crossing at 1239.80 is the next upside target. If October resumes the decline off April's high, the December-2016 low crossing at 1162.10 is the next downside target. First resistance is the reaction high crossing at 1215.70. Second resistance is the reaction high crossing at 1239.80. First support is August's low crossing at 1162.70. Second support is the December-2016 low crossing at 1162.10.

December silver closed higher on Thursday as it extends the trading range of the past two-weeks. The high-range close set the stage for a steady to higher opening when Friday'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 20-day moving average crossing at 14.397 are needed to confirm that a short-term low has been posted. If December resumes the decline off June's high, the December-2015 low on the weekly continuation chart crossing at 13.620 is the next downside target. First resistance is the 20-day moving average crossing at 14.397. Second resistance is the 50-day moving average crossing at 15.004. First support is last-Tuesday's low crossing at 13.965. Second support is the December-2015 low on the weekly continuation chart crossing at 13.620.        

December copper closed higher on Thursday. The high-range close sets the stage for a steady to higher opening when Friday'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 August's low, the reaction high crossing at 283.80 is the next upside target. If December resumes the decline off June's high, the 62% retracement level of the 2016-2018 rally crossing at 251.03 is the next downside target. First resistance is the reaction high crossing at 283.80. Second resistance is the reaction high crossing at 288.85. First support is August's low crossing at 257.45. Second support is the 62% retracement level of the 2016-2018 rally crossing at 251.03. 

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December Corn closed up 6 1/2-cents at 3.52 1/4. 

December corn closed closed higher due to short covering and bullish export data on Thursday as it consolidated some of the decline off May's high. The mid-range close sets the stage for a steady to higher opening when Friday's night sessions begins trading. Stochastics and the RSI are oversold but are turning neutral to bullish signaling that a low might be in or is near. Closes above the 50-day moving average crossing at 3.67 1/4 are needed to confirm that a short-term low has been posted. If December extends the decline off August's high, monthly support crossing at 3.40 1/4 is the next downside target. First resistance is the 20-day moving average crossing at 3.58 1/4. Second resistance is the 50-day moving average crossing at 3.67 1/4. First support is monthly support crossing at 3.40 1/4. Second support is monthly support crossing at 3.29 3/4.   

December wheat closed down a 1/4-cent at 5.22 1/4. 

December wheat closed fractionally lower on Thursday.The high-range close sets the stage for a steady to higher opening when Friday'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 5.22 3/4 are needed to confirm that a low has been posted. If December renews the decline off August's high, July's low crossing at 4.90 is the next downside target. First resistance is the 20-day moving average crossing at 5.22 3/4. Second resistance is the 50-day moving average crossing at 5.41. First support is last-Thursday's low crossing at 4.95 1/4. Second support is July's low crossing at 4.90.  

December Kansas City Wheat closed up 3/4-cents at 5.27. 

December Kansas City wheat closed fractionally higher on Thursday as it consolidated some of the decline off August's high. The high-range close sets the stage for a steady to higher opening on Friday. 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 5.28 are needed to confirm that a low has been posted. If December resumes the decline off August's high, July's low crossing at 4.93 3/4 is the next downside target. First resistance is the 20-day moving average crossing at 5.28. Second resistance is the reaction high crossing at 5.57 3/4. First support is the reaction low crossing at 4.97. Second support is July's low crossing at 4.93 3/4.

December Minneapolis wheat closed up a 1/2-cent at 5.88 1/2. 

December Minneapolis wheat closed fractionally higher due to short covering on Thursday.The high-range close sets the stage for a steady to higher opening when Friday'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 50-day moving average crossing at 5.93 1/4 are needed to confirm that a short-term low has been posted. If December renews the decline off August's high, July's low crossing at 5.42 1/4 is the next downside target. First resistance is the 50-day moving average crossing at 5.93 1/4. Second resistance is the reaction high crossing at 6.02. First support is last-Thursday's low crossing at 5.60 1/4. Second support is July's low crossing at 5.42 1/4.  

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

November soybeans closed up 16 1/2-cents at 8.46 1/2. 

November soybeans closed higher due to short covering on Thursday as it consolidated some of the decline off May's high. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI have turned neutral to bullish signaling that a low might be in or is near. Closes above the 50-day moving average crossing at 8.63 1/4 are needed to confirm that a short-term low has been posted. If November renews the decline off July's high, psychological support crossing at 8.00 is the next downside target. First resistance is the 50-day moving average crossing at 8.63 1/4. Second resistance is the reaction high crossing at 9.07. First support is monthly support crossing at 8.10 1/2. Second support is psychological support crossing at 8.00.

December soybean meal closed up $4.80 at 314.00. 

December soybean meal closed higher on Thursday as it consolidated some of last-week's decline. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI have turned neutral to bullish signaling that a double bottom with the late-August low might have been posted with Tuesday's low. Closes above the 50-day moving average crossing at 322.80 are needed to confirm that a low has been posted. If December extends the decline off July's high, the 87% retracement level of the 2016-2018-rally crossing at 289.50 is the next downside target. First resistance is the 50-day moving average crossing at 322.80. Second resistance is the reaction high crossing at 339.40. First support is the June-2017 low crossing at 301.20. Second support is the 87% retracement level of the 2016-2018-rally crossing at 289.50.

December soybean oil closed up 32 pts. at 27.82. 

December soybean oil closed higher due to short covering on Thursday as it consolidates some of this summer's decline. Stochastics and the RSI are oversold but are turning neutral to bullish signaling that a low might be in or is near. The mid-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Closes above the 50-day moving average crossing at 28.48 are needed to confirm that a short-term low has been posted. If December extends the decline off the late-July high, monthly support crossing at 26.99 is the next downside target. First resistance is September's high crossing at 29.00. Second resistance is July's high crossing at 29.39. First support is Wednesday's low crossing at 27.13. Second support is monthly support crossing at 26.99. 

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

October hogs closed up $1.25 at $61.25. 

October hogs gapped up and closed higher on Thursday as it extends the rally off August's low. The high-range close sets the stage for a steady to higher opening when Friday'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 October extends the rally off August low, the 62% retracement level of the February-August-decline crossing at 62.41 is the next upside target. Closes below the 50-day moving average crossing at 53.26 would temper the near-term friendly outlook. First resistance is today's high crossing at 61.63. Second resistance is the 62% retracement level of the February-August-decline crossing at 62.41. First support is the 10-day moving average crossing at 57.06. Second support is the 20-day moving average crossing at 54.47.    

October cattle closed down $0.65 at 112.45. 

October cattle closed lower on Thursday as it consolidates some of the rally off May's low. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are overbought and are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at 109.98 would confirm that a short-term top has been posted. If October extends the rally off August's low, the 87% retracement level of the February-May-decline crossing at 115.24 is the next upside target. First resistance is Monday's high crossing at 113.98. Second resistance is the 87% retracement level of the February-May-decline crossing at 115.24. First support is the 10-day moving average crossing at 111.76. Second support is the 50-day moving average crossing at 109.98.   

October Feeder cattle closed down $0.60 at $157.27. 

October Feeder cattle closed lower on Thursday 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 Friday'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 50-day moving average crossing at 152.18 would confirm that a short-term top has been posted. If October resumes the rally off August's low, weekly resistance crossing at 160.48 is the next upside target. First resistance is last-Friday's high crossing at 159.90. Second resistance is weekly resistance crossing at 160.48. First support is the 10-day moving average crossing at 155.97. Second support is the 50-day moving average crossing at 152.18.    

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

December coffee closed sharply higher due to short covering on Thursday as it consolidated some of this month's decline. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are turning neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 10.13 would confirm that a short-term low has been posted. If December extends the decline off June's high, monthly support crossing at 9.39 is the next downside target.         

December cocoa closed slightly higher on Thursday. The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends the decline off August's high, the reaction low crossing at 21.35 is the next downside target. If September renews the rally off August's low, July's high crossing at 26.07 is the next upside target.  

October sugar closed slightly higher on Thursday. The low-range close set the stage for a steady to lower opening on Friday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If October extends the decline off September's high, August's low crossing at 9.91 is the next downside target. Closes above the 10-day moving average crossing at 11.06 would temper the near-term bearish outlook. 

December cotton closed lower on Thursday. The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends decline off July's high, the 62% retracement level of the 2016-2018 rally crossing at 74.00 is the next downside target. Closes above the 50-day moving average crossing at 84.52 are needed to confirm that a short-term low has been posted.