KEY EVENTS TO WATCH FOR:

Monday, November 19, 2018  

10:00 AM ET. 3^rd Quarter Quarterly Retail E-Commerce Sales

10:00 AM ET. November NAHB Housing Market Index

                       Housing Mkt Idx (previous 68)

Tuesday, November 20, 2018  

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

                       Chain Store Sales, W/W% (previous -0.8%)

                       Chain Store Sales, M/M% (previous +1.8%)

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

                       Total Starts (previous 1.201M)

                       Housing Starts, M/M% (previous -5.3%)

                       Building Permits (previous 1.241M)

                       Building Permits, M/M% (previous -0.6%)

8:55 AM ET. Johnson Redbook Retail Sales Index

                       Ret Sales Mo-to-Date, M/M% (previous +0.2%)

                       Ret Sales Mo-to-Date, Y/Y% (previous +6.1%)

                       Latest Wk, Y/Y% (previous +6.1%)

4:30 PM ET. API Weekly Statistical Bulletin

                       Crude Stocks, Net Chg (Bbls) (previous +8.8M)

                       Gasoline Stocks, Net Chg (Bbls) (previous +0.2M)

                       Distillate Stocks, Net Chg (Bbls) (previous -3.2M)

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

The STOCK INDEXES:The December NASDAQ 100 was lower overnight. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off November's high, October's low crossing at 6580.50 is the next downside target. Closes above the 10-day moving average crossing at 6954.55 would temper the near-term bearish outlook. If December extends the decline off November's high, October's low crossing at 6580.50 is the next downside target. First resistance is November's high crossing at 7231.00. Second resistance is the 50-day moving average crossing at 7238.48. First support is last-Thursday's low crossing at 6712.25. Second support is October's low crossing at 6580.50.

The December S&P 500 was lower overnight. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends this month's decline, the 87% retracement level of the April-September-rally rally crossing at 2628.96 is the next downside target. Closes above the 10-day moving average crossing at 2753.06 would confirm that a short-term low has been posted.First resistance is the 50-day moving average crossing at 2813.60. Second resistance is the October 17^th reaction high crossing at 2823.00. First support is last-Thursday's low crossing at 2678.00. 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 lower overnight as it consolidates some of the rally off November's low. 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 the rally off November's low, the 50% retracement level of the August-October-decline crossing at 140-28 is the next upside target. Closes below the 10-day moving average crossing at 138-09 would temper the near-term friendly outlook. First resistance is October's high crossing at 139-28. Second resistance is the 50% retracement level of the August-October-decline crossing at 140-28. First support is November's low crossing at 136-24. Second support is October's low crossing at 136-16.    

December T-notes was lower in overnight 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 the rally off November's low, the 62% retracement level of the August-October-decline crossing at 119.130 is the next upside target. Closes below the 10-day moving average crossing at 118.142 would confirm that a short-term top has been posted. First resistance is the 62% retracement level of the August-October-decline crossing at 119.130. Second resistance is the 75% retracement level of the August-October-decline crossing at 119.266. First support is November's low crossing at 117.225. 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 steady to  overnight. Stochastics and the RSI are oversold but remain neutral to bearish signaling that additional weakness is possible near-term. If December resumes the decline off October's high, the 75% retracement level of the 2017-2018-rally crossing at 53.25 is the next downside target. Closes above the 20-day moving average crossing at 61.91 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 58.41. Second resistance is the 20-day moving average crossing at 61.91. First support is last-Tuesday's low crossing at 54.75. Second support is the 75% retracement level of the 2017-2018-rally crossing at 53.25.    

December heating oil was lower overnight. Stochastics and the RSI are oversold but remains neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off October's high, the 50% retracement level of the 2017-2018-rally crossing at 196.81 is the next downside target. Closes above the 20-day moving average crossing at 218.46 are needed to confirm that a low has been posted. First resistance is the 10-day moving average crossing at 212.85. Second resistance is the 20-day moving average crossing at 218.46. First support is last-Tuesday's low crossing at 205.03. Second support is the 50% retracement level of the 2017-2018-rally crossing at 196.81.

December unleaded gas was lower overnight. 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 75% retracement level of the 2017-2018-decline crossing at 150.82 is the next downside target. Closes above the 20-day moving average crossing at 168.48 are needed to confirm that a short-term low has been posted.First resistance is the 10-day moving average crossing at 159.96. Second resistance is the 20-day moving average crossing at 168.48. First support is last-Tuesday's low crossing at 152.40. Second support is the 75% retracement level of the 2017-2018-decline crossing at 150.82.  

December Henry natural gas gapped up and was higher overnight as it extends last-Friday's rally. However, the low-range late-overnight trade leaves the door open for a steady to lower opening when the day session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 3.631 are needed to confirm that a short-term top has been posted. If December resumes the rally off September's low, the 25% retracement level of the 2008-2016-decline crossing at 5.204 is the next upside target. First resistance is last-Wednesday's high crossing at 4.929. Second resistance is the 25% retracement level of 2008-2016-decline crossing at 5.204. First support is the 10-day moving average crossing at 3.984. Second support is the 20-day moving average crossing at 3.631.    

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

CURRENCIES:The December Dollar was steady to slightly lower overnight. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off November's high, the 50-day moving average crossing at 95.42 is the next downside target. If December resumes this year's rally, weekly resistance crossing at 97.83 is the next upside target. First resistance is November's high crossing at 97.41. Second resistance is weekly resistance crossing at 97.83. First support is the overnight low crossing at 96.18. Second support is the 50-day moving average crossing at 95.42.    

The December Euro was steady to slightly higher overnight. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off November's low, the 50-day moving average crossing at 115.64 is the next upside target. 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 reaction high crossing at 115.45. Second resistance is the 50-day moving average crossing at 115.64. First support is November's low crossing at 112.46. Second support is the 87% retracement level of the 2016-2018-rally crossing at 111.15.  

The December British Pound was lower overnight. The low-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 remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off November's high, October's low crossing at 1.2722 is the next downside target. If December renews the rally off October's low, October's high crossing at 1.3297 is the next upside target. First resistance is November'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 higher overnight as it extends the rally off last-Tuesday's low. Stochastics and the RSI are 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 1.0167 is the next upside target. If December resumes the decline off September's high, weekly support crossing at 0.9833 is the next downside target. First resistance is the November 7^th reaction high crossing at 1.0082. Second resistance is the 50-day moving average crossing at 1.0167. First support is last-Tuesday's low crossing at 0.9902. Second support is weekly support crossing at 0.9833.

The December Canadian Dollar was lower overnight. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving averagecrossing at 76.14 are needed to confirm that a short-term low has been posted. If December resumes the decline off October's high, June's low crossing at 75.00 is the next downside target. First resistance is the 20-day moving average crossing at 76.14. Second resistance is the 50-day crossing at 76.75. First support is last-Tuesday's low crossing at 75.43. Second support is June's low crossing at 75.00.

The December Japanese Yen was steady to slightly lower overnight. 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 0.0890 are needed to confirm that a short-term low has been posted. If December resumes the decline off October's high, the January-2016 low crossing at 0.0872 is the next downside target. First resistance is the 50-day moving average crossing at 0.0890. Second resistance is October's high crossing at 0.0901. First support is last-Monday's low crossing at 0.0877. Second support is the January-2016 low crossing at 0.0872.  

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

PRECIOUS METALS: December gold was lower overnight. Stochastics and the RSI remain neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 1223.90 would confirm that a short-term low has been posted while opening the door for additional gains near-term. If December resumes the decline off October's high, October's low crossing at 1186.00 is the next downside target. 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 last-Tuesday's low crossing at 1196.60. Second support is October's low crossing at 1186.00.

December silver was steady to slightly lower overnight. Stochastics and the RSI are neutral to bullish signaling that a double bottom with September's low might have been posted with last-Wednesday's low. Closes above the 20-day moving average crossing at 14.441 would confirm that a low has been posted. If December resumes this month's decline, monthly support crossing at 13.620 is the next downside target. First resistance is October's high crossing at 14.950. Second resistance is the August 28^th reaction high crossing at 15.070. First support is last-Wednesday's low crossing at 13.860. Second support is monthly support crossing at 13.620. 

December copper was steady to slightly lower overnight. The high-range 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 resumes the rally off October's low, September's high crossing at 287.10 is the next upside target. Closes below the 10-day moving average crossing at 272.66 would temper the near-term friendly outlook. 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 October'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 steady to fractionally lower overnight as it extends its late-fall trading range. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. The low-range overnight trade sets the stage for a steady to lower opening when the day session begins trading. Closes below trading range support crossing at 3.60 1/4 would open the door for additional weakness near-term. If December renews 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. First resistance is the November 8^th reaction high crossing at 3.79. 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 lower overnight. 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 neutral to bearish signaling that sideways to lower prices are possible near-term. If December resumes the decline off October's high, the December-2017 low crossing at 4.68 1/4 is the next downside target. If December extends the rally off October's low, October's high crossing at 5.27 1/4 is the next upside target. First resistance is last-Tuesday's high crossing at 5.20 3/4. 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 up 2 3/4-cents at 4.82 3/4. 

December Kansas City wheat closed higher on Friday. The high-range close sets the stage for a steady to higher opening on Monday. 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, the December-2017 low crossing at 4.78 1/4 is the next downside target. Closes above the 50-day moving average crossing at 5.10 is the next upside target. First resistance is the 50-day moving average crossing at 5.10. Second resistance is October's high crossing at 5.33 1/4. First support is Thursday's low crossing at 4.78 3/4. Second support is the December-2017 low crossing at 4.78 1/4. 

December Minneapolis wheat was was lower overnight. 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 neutral to bearish signaling that sideways to lower prices are possible near-term. December resumes the decline off October's high, September's low crossing at 5.60 1/4 is the next downside target. If December resumes the rally off October's low, October's high crossing at 6.02 1/4 is the next upside target. If First resistance is November'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 higher overnight. However, 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 neutral to bullish signaling that sideways to higher prices are possible near-term. If November resumes the rally off October's low, 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 8.54 3/4 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 lower overnight while extends a two and a half month old trading range. 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 neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 311.60 would temper the near-term bearish outlook. 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 October's low crossing at 302.00. Second support is September's low crossing at 301.60. 

December soybean oil was lower in overnight trading as it extends the decline off October's high. 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 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, September's low crossing at 27.13 is the next downside target. Closes above the 50-day moving average crossing at 28.49 are needed to confirm that a low has been posted. First resistance is the 50-day moving average crossing at 28.49. Second resistance is October's high crossing at 30.01. First support is last-Friday's low crossing at 27.29. Second support is September's low crossing at 27.13. 

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

December hogs closed up $3.00 at $60.08. 

December hogs closed limit up on Friday as it extended the rally off November's low. The high-range close sets the stage for a steady to higher opening when Monday'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 renews the rally off October's low, June's high crossing at 60.75 is the next upside target. Closes below the 10-day moving average crossing at 56.62 would temper the near-term friendly outlook. First resistance is October's high crossing at 60.20. Second resistance is June's high crossing at 60.75. First support is November's low crossing at 54.00. Second support is October's low crossing at 51.27.   

December cattle closed up $0.20 at 115.35. 

December cattle closed higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday'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 117.26 would confirm that a short-term low has been posted. 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. 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 $0.80 at $147.83. 

November Feeder cattle closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday'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 152.03 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 152.03. Second resistance is the reaction high crossing at 157.05. First support is Wednesday's low crossing at 147.83. 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 Friday. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes below Tuesday's low crossing at 10.75 would open the door for additional weakness near-term. Closes above the 20-day moving average crossing at 11.54 would confirm that a short-term low has been posted.           

December cocoa closed higher on Friday. The mid-range close sets the stage for a steady to higher opening on Monday. 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 November's high, the reaction low crossing at 21.13 is the next downside target. Closes above the 10-day moving average crossing at 22.51 would confirm that a short-term low has been posted.    

March sugar closed slightly higher on Friday. The mid-range close set the stage for a steady opening on Monday. 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 11.91 is the next downside target. Closes above the 20-day moving average crossing at 13.22 would confirm that a short-term low has been posted. 

December cotton closed lower on Friday. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December resumes decline off October's high, October's low crossing at 75.37 is the next downside target. Closes above the 50-day moving average crossing at 78.24 would confirm that a short-term low has been posted.