KEY EVENTS TO WATCH FOR:

Thursday, November 8, 2018   

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

                       Corn (Metric Tons) (previous 399.4K)

                       Soybeans (Metric Tons) (previous 455.8K)

                       Wheat (Metric Tons) (previous 582.5K)

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

                       Jobless Claims (previous 214K)

                       Jobless Claims, Net Chg (previous -2K)

                       Continuing Claims (previous 1631000)

                       Continuing Claims, Net Chg (previous -7K)

9:45 AM ET. Bloomberg Consumer Comfort Index

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

                       Working Gas In Storage (Cbf) (previous 3143B)

                       Working Gas In Storage, Net Chg (Cbf) (previous +48B)

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

                       Corn, End Stocks (Bushels)

                       Soybeans, End Stocks (Bushels)

                       Wheat, End Stocks (Bushels)

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

2:00 PM ET. U.S. interest rate decision

                       Federal Funds Rate

                       Federal Funds Rate Change (Pts)

                       Fed Funds Rate-Range High (previous 2.25)

                       Fed Funds Rate-Range Low (previous 2.00)

                       FOMC Vote For Action (previous 9)

                       FOMC Vote Against Action (previous 0)

                       Discount Rate (previous 2.75)

                       Discount Rate Change (Pts) (previous +0.25)

                       Discount Rate-Range High

                       Discount Rate-Range Low

4:30 PM ET. Money Stock Measures

4:30 PM ET. Federal Discount Window Borrowings

4:30 PM ET. Foreign Central Bank Holdings

Friday, November 9, 2018  

8:30 AM ET. October PPI

                       PPI, M/M% (previous +0.2%)

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

                       Personal Consumption (previous +0.1%)

10:00 AM ET. November University of Michigan Survey of Consumers – preliminary

                       Mid-Mo Sentiment (previous 99.0)

                       Mid-Mo Expectations (previous 89.1)

                       Mid-Mo Current Idx (previous 114.4)

10:00 AM ET. September Monthly Wholesale Trade

                       Inventories, M/M% (previous +1.0%)

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

The STOCK INDEXES:The December NASDAQ 100 was lower overnight as it consolidated some of Wednesday's huge gains.Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off October's low, the 50-day moving average crossing at 7336.44 is the next upside target. Closes below Monday's low crossing at 6865.00 would confirm that a short-term top has been posted. First resistance is the overnight high crossing at 7231.00. Second resistance is the 50-day moving average crossing at 7336.44. First support is Monday's low crossing at 6865.00. Second support is October's low crossing at 6580.50.

The December S&P 500 was lower overnight as it consolidated 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. If December extends the aforementioned rally, the 50-day moving average crossing at 2835.70 is the next upside target. Closes below the 10-day moving average crossing at 2727.26 would confirm that a short-term top has been posted. First resistance is the October 17^th reaction high crossing at 2823.00. Second resistance is the 50-day moving average crossing at 2835.70. First support is the 10-day moving average crossing at 2727.26. Second support is the 87% retracement level of the April-September-rally rally crossing at 2628.96.    

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

INTEREST RATES: December T-bonds were slightly higher overnight as it consolidates some of the decline off October's high. 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 October's high, October's low crossing at 136-16 is the next downside target. Closes above the 20-day moving average crossing at 138-05 would confirm that a short-term low has been posted. First resistance is October's high crossing at 139-28. Second resistance is the September 28^th reaction high crossing at 141-04. First support is Wednesday's low crossing at 136.24. Second support is October's low crossing at 136-16.    

December T-notes was higher in overnight trading as it consolidates some of the decline off October's high. 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 October's high, October's low crossing at 117.135 is the next downside target. Closes above the 50-day moving average crossing at 118.209 are needed to confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 118.209. Second resistance is October's high crossing at 119.060. First support is Wednesday's low crossing at 117.230. Second support is October's low crossing at 117.135. 

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

ENERGY MARKETS: DecemberNymex crude oil was higher due to short covering overnight as it consolidates some of the decline off October's high. Stochastics and the RSI are oversold but remain neutral to bearish signaling that additional weakness is possible near-term. If December extends the decline off October's high, the 50% retracement level of the 2017-2018-rally crossing at 61.07 is the next downside target. Closes above the 20-day moving average crossing at 66.60 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 63.99. Second resistance is the 20-day moving average crossing at 66.60. First support is Wednesday's low crossing at 61.20. Second support is the 50% retracement level of the 2017-2018-rally crossing at 61.07.    

December heating oil was lower overnight. Stochastics and the RSI have turned neutral to bullish signaling that a short-term low might be in or is near. Closes above the 20-day moving average crossing at 226.54 are needed to confirm that a low has been posted. If December extends the decline off October's high, the 38% retracement level of the 2017-2018-rally crossing at 208.29 is the next downside target. First resistance is the 20-day moving average crossing at 226.54. Second resistance is the 50-day moving average crossing at 228.65. First support is Monday's low crossing at 215.63. Second support is the 38% retracement level of the 2017-2018-rally crossing at 208.29.

December unleaded gas was higher overnight as it consolidates some of the decline off October's high. Stochastics and the RSI are oversold but remain neutral to bearish signaling that additional weakness is possible near-term. If December extends the decline off October's high, the 62% retracement level of the 2017-2018-decline crossing at 162.09 is the next downside target. Closes above the 20-day moving average crossing at 180.92 are needed to confirm that a short-term low has been posted.First resistance is the 10-day moving average crossing at 172.54. Second resistance is the 20-day moving average crossing at 180.92. First support is Wednesday's low crossing at 163.82. Second support is the 62% retracement level of the 2017-2018-decline crossing at 162.09.  

December Henry natural gas was lower overnight as it consolidates some of Monday's rally. 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 decline off October's high, the 50% retracement level of the 2014-2016-rally crossing at 3.804 is the next upside target. Closes below the 20-day moving average crossing at 3.317 are needed to confirm that a short-term top has been posted. First resistance is Tuesday's high crossing at 3.581. Second resistance is the 50% retracement level of 2014-2016-rally crossing at 3.804. First support is the 20-day moving average crossing at 3.317. Second support is the bottom of Monday's gap crossing at 3.313.    

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

CURRENCIES:The December Dollar was higher overnight. Stochastics and the RSI are neutral to bearish signaling sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 95.89 are needed to confirm that a short-term top has been posted while opening the door for additional weakness near-term. If December renews the rally off September's low, weekly resistance crossing at 97.83 is the next upside target. First resistance is October's high crossing at 96.98. Second resistance is weekly resistance crossing at 97.83. First support is the 20-day moving average crossing at 95.89. Second support is the 50-day moving average crossing at 95.13.    

The December Euro was lower overnight. 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 114.85 are needed to confirm that a short-term low has been posted. If December resumes the decline off September's high, the 87% retracement level of the 2016-2018-rally crossing at 113.54 is the next downside target. First resistance is the 20-day moving average crossing at 114.85. Second resistance is the October 16^th reaction high crossing at 116.78. First support is the 75% retracement level of the 2016-2018-rally crossing at 113.54. Second support is the 87% retracement level of the 2016-2018-rally crossing at 111.15.  

The December British Pound was lower overnight. The mid-range trade in the overnight trade sets the stage for a steady to lower opening when the day session beings 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 October's low, October's high crossing at 1.3297 is the next upside target. Closes below the 10-day moving average crossing at 1.2971 would temper the near-term friendly outlook. First resistance is Wednesday's high crossing at 1.3198. Second resistance is October's high crossing at 1.3297. First support is October's low crossing at 1.2722. Second support is the 87% retracement level of the 2016-2018-rally crossing at 1.2632.

The December Swiss Franc was lower overnight. 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 1.0057 are needed to confirm that a short-term low has been posted. If December resumes the decline off September's high, weekly support crossing at 0.9921 is the next downside target. First resistance is the 20-day moving average crossing at 1.0057. Second resistance is the October 15^th reaction high crossing at 1.0212. First support is October's low crossing at 0.9946. Second support is weekly support crossing at 0.9921.

The December Canadian Dollar was higher overnight. Stochastics and the RSI are turning neutral to bullish hinting that a low might be in or is near. Closes above the reaction high crossing at 77.18 are needed to confirm that a short-term low has been posted. If December resumes the decline off October's high, September's low crossing at 75.75 is the next downside target. First resistance is the reaction high crossing at 77.18. Second resistance is the reaction high crossing at 77.51. First support is last-Wednesday's low crossing at 75.98. Second support is September's low crossing at 75.75.

The December Japanese Yen was lower overnight as it extends the decline off October's high. 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 October's high, October's low crossing at 0.0877 is the next downside target. Closes above the 50-day moving average crossing at 0.0893 would confirm that a short-term low has been posted. First resistance is October's high crossing at 0.0901. Second resistance is September's high crossing at 0.0912. First support is Wednesday's low crossing at 0.0881. Second support is October's low crossing at 0.0877.  

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

PRECIOUS METALS: December gold was lower overnight as it extends the trading range of the past four-weeks. Stochastics and the RSI are neutral signaling that sideways trading is possible near-term. If December resumes the rally off October's low, the 38% retracement level of the April-August-Decline crossing at 1251.30 is the next upside target. Closes below the 50-day moving average crossing at 1213.40 would confirm that a short-term top has been posted. First resistance is October's high crossing at 1246.00. Second resistance is the 38% retracement level of the April-August-Decline crossing at 1251.30. First support is the 50-day moving average crossing at 1213.40. Second support is October's low crossing at 1186.00.

December silver was lower overnight as it extends this fall's trading range. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes above the reaction high crossing at 14.950 would mark an upside breakout of the aforementioned trading range while renewing the rally off September's low. Closes below the reaction low crossing at 14.255 would confirm a downside breakout of the aforementioned trading range while opening the door for additional weakness near-term. First resistance is the reaction high crossing at 14.950. Second resistance is the August 28^th reaction high crossing at 15.070. First support is the reaction low crossing at 14.255. Second support is September's low crossing at 13.965. 

December copper was lower overnight. The low-range trade sets the stage for a steady to lower opening when the day 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 10-day moving average crossing at 272.68 would temper the near-term friendly outlook. If December extends the rally off last-Thursday's low, September's high crossing at 287.10 is the next upside target. First resistance is September's high crossing at 287.10. Second resistance is the July 5^th gap crossing at 293.10. First support is last-Thursday's low crossing at 264.25. Second support is September's low crossing at 258.00.

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

December corn was higher overnight as traders await the results of today's WASDE grain report due out at 12:00 CST. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. The high-range overnight trade sets the stage for a steady to higher opening when the day session begins trading. If December resumes the rally off September's low, the 50% retracement level of the May-September-decline crossing at 3.85 3/4 is the next upside target. If December renews the decline off October's high, the reaction low crossing at 3.54 1/2 is the next downside target. First resistance is October's high crossing at 3.78 1/2. Second resistance is the 50% retracement level of the May-September-decline crossing at 3.85 3/4. First support is the reaction low crossing at 3.60 1/4. Second support is the reaction low crossing at 3.54 1/2.

December wheat was higher overnight. The high-range close sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI remain neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 5.14 1/4 would confirm that a short-term low has been posted. Closes below the 10-day moving average crossing at 5.06 3/4 would temper the near-term friendly outlook. If December resumes the decline off October's high, the December-2017 low crossing at 4.68 1/4 is the next downside target. First resistance is the 50-day moving average crossing at 5.14 1/4. Second resistance is October's high crossing at 5.27 1/4. First support is October's low crossing at 4.85 1/2. Second support is the December-2017 low crossing at 4.68 1/4.         

December Kansas City Wheat closed down 5 3/4-cents at 5.02 1/4. 

December Kansas City wheat 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 bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off October's low, the 50-day moving average crossing at 5.16 3/4 is the next upside target. If December renews the decline off October's high, October's low crossing at 4.84 1/2 is the next downside target.First resistance is the 50-day moving average crossing at 5.16 3/4. Second resistance is October's high crossing at 5.33 1/4. First support is October's low crossing at 4.84 1/2. Second support is the December-2017 low crossing at 4.78 1/4. 

December Minneapolis wheat was higher overnight. The high-range overnight trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the aforementioned rally, October's high crossing at 6.02 1/4 is the next upside target. December resumes the decline off October's high, September's low crossing at 5.60 1/4 is the next downside target. If First resistance is Wednesday's high crossing at 5.90. Second resistance is October's high crossing at 6.02 1/4. First support is October's low crossing at 5.65 3/4. Second support is September's low crossing at 5.60 1/4. 

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

November soybeans were slightly higher overnight. The high-range overnight trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If November extends the aforementioned rally, the 38% retracement level of the May-September-decline crossing at 9.07 is the next upside target. Closes below the 50-day moving average crossing at 8.52 1/2 would temper the near-term friendly outlook. First resistance is October's high crossing at 8.92. Second resistance is the 38% retracement level of the May-September-decline crossing at 9.07. First support is October's low crossing at 8.32 1/4. Second support is September's low crossing at 8.12 1/4.  

December soybean meal was slightly higher overnight. The mid-range overnight trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 312.20 would confirm that a short-term low has been posted. If December resumes the decline off October's high, September's low crossing at 301.60 is the next downside target. First resistance is October's high crossing at 327.30. Second resistance is the 38% retracement level of the May-September-decline crossing at 3.36 1/4. First support is last-Wednesday's low crossing at 302.00. Second support is September's low crossing at 301.60. 

December soybean oil was lower in overnight trading. The low-range overnight trade sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are turning neutral to bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing at 28.61 would confirm that a low has been posted. If December resumes the decline off October's high, September's low crossing at 27.13 is the next downside target. First resistance is the 20-day moving average crossing at 28.61. Second resistance is October's high crossing at 30.01. First support is last-Tuesday's low crossing at 27.75. Second support is September's low crossing at 27.13. 

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

December hogs closed up $1.43 at $55.53. 

December hogs closed higher on Wednesday as it consolidated some of Tuesday's decline but remains below the 20-day moving average crossing at 56.05. 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 December extends Tuesday's decline, October's low crossing at 51.27 is the next downside target. If December renews the rally off October's low, June's high crossing at 60.75 is the next upside target. First resistance is October's high crossing at 60.20. Second resistance is June's high crossing at 60.75. First support is today's low crossing at 54.00. Second support is October's low crossing at 51.27.    

December cattle closed up $0.68 at 116.10. 

December cattle closed higher on Wednesday as it consolidated some of Monday'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 are neutral signaling that sideways trading is possible near-term. If December resumes the decline off October's high, the 50% retracement level of the April-October-rally crossing at 113.34 is the next downside target. Closes above last-Friday's high crossing at 117.85 would confirm that a short-term low has been posted. First resistance is the reaction high crossing at 118.80. Second resistance is October's high crossing at 119.75. First support is the 38% retracement level of the April-October-rally crossing at 114.85. Second support is the 50% retracement level of the April-October-rally crossing at 113.34.   

November Feeder cattle closed down $0.05 at $149.93. 

November Feeder cattle closed lower on Wednesday. The mid-range close sets the stage for a steady to lower opening when Thursday's session begins trading. Stochastics and the RSI are oversold but remains neutral to bearish signaling that sideways to lower prices are possible near-term. If November extends the decline off October's high, the  62% retracement level of the May-August-rally crossing at 146.54 is the next downside target. Closes above the 20-day moving average crossing at 153.75 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 153.75. Second resistance is the reaction high crossing at 157.05. First support is Monday's low crossing at 149.03. Second support is the 62% retracement level of the May-August-rally crossing at 146.54.   

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

December coffee closed higher on Wednesday. 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. Closes below last-Wednesday's low crossing at 11.13 would confirm that a short-term top has been posted while opening the door for additional weakness near-term. If December resumes the rally off September's low, the 87% retracement level of the May-September-decline crossing at 12.68 is the next upside target.           

December cocoa closed higher on Wednesday as it extends the rally off October's high. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off October's low, July's high crossing at 26.07 is the next upside target. Closes below the 20-day moving average crossing at 22.18 would confirm that a short-term top has been posted.    

March sugar closed slightly higher on Wednesday. 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 the decline off October's high, the reaction low crossing at 12.62 is the next downside target. Closes above the 20-day moving average crossing at 13.47 would confirm that a short-term low has been posted. 

December cotton closed higher on Wednesday. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If December resumes the rally off October's low, the June-July downtrend line crossing near 81.03 is the next upside target. If December resumes decline off October's high, October's low crossing at 75.37 is the next downside target.