KEY EVENTS TO WATCH FOR:
Tuesday, February 20, 2018
9:45 AM ET. February ISM-Chicago Business Survey - Chicago PMI
PMI-Adj (previous 65.7)
10:00 AM ET. January Pending Home Sales Index
Pending Home Sales (previous 110.1)
Pending Home Sales Idx, M/M% (previous +0.5%)
Pending Home Sales Idx , Y/Y% (previous +0.5%)
10:30 AM ET. EIA Weekly Petroleum Status Report
Crude Oil Stocks (Bbl)
Crude Oil Stocks, Net Chg (Bbl)
Gasoline Stocks (Bbl)
Gasoline Stocks, Net Chg (Bbl)
Distillate Stocks (Bbl)
Distillate Stocks, Net Chg (Bbl)
Refinery Usage
Total Prod Supplied (Bbl/day)
Total Prod Supplied, (Bbl/day) Net Chg
4:00 PM ET. Foreign portfolio holdings of U.S. securities preliminary results
Wednesday, February 21, 2018
7:00 AM ET. MBA Weekly Mortgage Applications Survey
Composite Idx (previous 399.4)
Composite Idx, W/W% (previous -4.1%)
Purchase Idx-SA (previous 240.4)
Purchase Idx-SA, W/W% (previous -5.9%)
Refinance Idx (previous 1274.0)
Refinance Idx, W/W% (previous -1.9%)
7:45 AM ET. The Retail Economist/Goldman Sachs Weekly Chain Store Sales Index
Chain Store Sales, W/W% (previous +1.8%)
Chain Store Sales, M/M% (previous +1.6%)
8:55 AM ET. Johnson Redbook Retail Sales Index
Ret Sales Mo-to-Date, M/M% (previous -1.1%)
Ret Sales Mo-to-Date, Y/Y% (previous +2.8%)
Latest Wk, Y/Y% (previous +2.8%)
9:45 AM ET. February US Flash Services PMI
PMI, Services (previous 53.3)
9:45 AM ET. February US Flash Manufacturing PMI
PMI, Mfg (previous 55.5)
10:00 AM ET. January Existing Home Sales
Existing Sales (previous 5.57M)
Existing Sales, M/M% (previous -3.6%)
Unsold Homes Month's Supply (previous 3.2)
Median Price (USD) (previous 246800)
Median Home Price, Y/Y% (previous +5.8%)
2:00 AM ET. Federal Open Market Committee meeting minutes published
4:30 PM ET. API Weekly Statistical Bulletin
Crude Stocks, Net Chg (Bbls) (previous +3.9M)
Gasoline Stocks, Net Chg (Bbls) (previous +4.6M)
Distillate Stocks, Net Chg (Bbls) (previous +1.1M)
Refinery Runs
Thursday, February 22, 2018
8:30 AM ET. Unemployment Insurance Weekly Claims Report - Initial Claims
Jobless Claims (previous 230K)
Jobless Claims, Net Chg (previous +7K)
Continuing Claims (previous 1942000)
Continuing Claims, Net Chg (previous +15K)
9:45 AM ET. Bloomberg Consumer Comfort Index
10:00 AM ET. January Leading Indicators
Leading Index (previous +0.6%)
Coincident Index (previous +0.3%)
Lagging Index (previous +0.7%)
10:30 AM ET. EIA Weekly Natural Gas Storage Report
Working Gas In Storage (Cbf) (previous 1884B)
Working Gas In Storage, Net Chg (Cbf) (previous -194B)
11:00 AM ET. February Federal Reserve Bank of Kansas City Survey of Tenth District Manufacturing
Mfg Activity Idx (previous 16)
6-Mo Exp Prod Idx (previous 37)
Mfg Composite Idx (previous 16)
6-Mo Exp Composite Idx (previous 29)
11:00 AM ET. EIA Weekly Petroleum Status Report
Crude Oil Stocks (Bbl) (previous 422.095M)
Crude Oil Stocks, Net Chg (Bbl) (previous +1.841M)
Gasoline Stocks (Bbl) (previous 249.073M)
Gasoline Stocks, Net Chg (Bbl) (previous +3.599M)
Distillate Stocks (Bbl) (previous 141.367M)
Distillate Stocks, Net Chg (Bbl) (previous -0.459M)
Refinery Usage (previous 89.8%)
Total Prod Supplied (Bbl/day) (previous 20.284M)
Total Prod Supplied, Net Chg (Bbl/day) (previous -0.559M)
4:30 PM ET. Money Stock Measures
4:30 PM ET. Federal Discount Window Borrowings
4:30 PM ET. Foreign Central Bank Holdings
Friday, February 23, 2018
8:30 AM ET. U.S. Weekly Export Sales
Corn (Metric Tons) (previous 2072K)
Soybeans (Metric Tons) (previous 837.5K)
Wheat (Metric Tons) (previous 421.9K)
N/A Trump meets Australian PM at the White House
The STOCK INDEXES http://quotes.ino.com/ex changes/?c=indexes"
The STOCK INDEXES:The March NASDAQ 100 was lower overnight as it consolidates some of the rally off February's low. Stochastics and the RSI remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off February's low, January's high crossing at 7047.25 is the next upside target. Closes below the 10-day moving average crossing at 6604.57 would confirm that a short-term top has been posted. First resistance is last Friday's high crossing at 6859.75. Second resistance is January's high crossing at 7047.25. First support is the 10-day moving average crossing at 6604.57. Second support is the 38% retracement level of the 2016-2018-rally crossing at 6217.54.
The March S&P 500 was lower overnight as it consolidates some of the rally off February's low. 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 2742.94 are needed to confirm that a short-term low has been posted. Closes below the 10-day moving average crossing at 2676.34 would confirm that a short-term top has been posted. First resistance is the 20-day moving average crossing at 2742.94. Second resistance is the reaction high crossing at 2839.00. First support is last Wednesday's low crossing at 2627.50. Second support is the 38% retracement level of the 2016-2018-rally crossing at 2529.20.
INTEREST RATES http://quotes.ino.com/ex changes/?c=interest"
INTEREST RATES: March T-bonds were lower overnight as they extend the trading range of the past seven-days. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March resumes the decline off January's high, weekly support crossing at 140-03 is the next downside target. Closes above the 20-day moving average crossing at 146-01 are needed to confirm that a short-term low has been posted. First resistance is the reaction high crossing at 145-09. Second resistance is the 20-day moving average crossing at 146-01. First support is last Thursday's low crossing at 143-04. Second support is weekly support crossing at 140-03.
March T-notes were lower overnight. 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 last September's high, weekly support crossing at 119.170 is the next downside target. Closes above the 20-day moving average crossing at 121.098 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 121.098. Second resistance is the 50-day moving average crossing at 122.209. First support is last Thursday's low crossing at 120.010. Second support is weekly support crossing at 119.170.
ENERGY MARKETS http://quotes.ino.com/ex changes/?c=energy"
ENERGY MARKETS: AprilNymex crude oil was higher overnight as it extends the rebound off February's low.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 62.80 are needed to confirm that a short-term low has been posted. If April renews the decline off January's high, the 38% retracement level of the 2016-2018-rally crossing at 56.05 is the next downside target. First resistance is the 20-day moving average crossing at 62.80. Second resistance is January's high crossing at 66.39. First support is February's low crossing at 57.90. Second support is the 38% retracement level of the 2016-2018-rally crossing at 56.05.
April heating oil was higher overnight as it extends the rally off February's low. 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 197.91 are needed to confirm that a short-term low has been posted. If April resumes the decline off January's high, the 38% retracement level of the 2016-2018-rally crossing at 176.89 is the next downside target. First resistance is the 20-day moving average crossing at 197.91. Second resistance is the reaction high crossing at 208.80. First support is February's low crossing at 180.97. Second support is the 38% retracement level of the 2016-2018-rally crossing at 176.89.
April unleaded gas was higher overnight as it consolidates some of the decline off January's high. 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 198.88 would confirm that a short-term low has been posted. If April resumes the decline off January's high, the 38% retracement level of the 2016-2018-rally crossing at 179.34 is the next downside target. First resistance is the 20-day moving average crossing at 198.88. Second resistance is the reaction high crossing at 208.46. First support is February's low crossing at 165.19. Second support is the 38% retracement level of the 2016-2018-rally crossing at 179.34.
April Henry natural gas was higher overnight as it consolidates some of the decline off January's high. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If April renews the decline off January's high, the 87% retracement level of the December-January-rally crossing at 2.551. Closes above the 20-day moving average crossing at 2.756 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 2.648. Second resistance is the 20-day moving average crossing at 2.756. First support is the 87% retracement level of the December-January-rally crossing at 2.551. Second support is December's low crossing at 2.487.
CURRENCIEShttp://quotes.ino.com/ex changes/?c=currencies"
CURRENCIES:The March Dollar was higher overnight. Stochastics and the RSI have turned neutral to bullish signaling that a double bottom with January's low might have been posted with last Friday's low. Closes below key support marked by January's low crossing at 88.25 would open the door for a possible test of weekly support crossing at 87.45. Closes above the 10-day moving average crossing at 89.51 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 89.51. Second resistance is February's high crossing at 90.46. First support is January's low crossing at 88.25. Second support is weekly support crossing at 87.45.
The March Euro was lower in overnight trading. Stochastics and the RSI are turning neutral to bearish signaling that a double top with January's high might have been posted last Friday. Closes below the 10-day moving average crossing at 123.77 would temper the near-term friendly outlook. Closes above January's high would open the door for a possible test of weekly resistance crossing at 126.74. First resistance is January's high crossing at 125.76. Second resistance is weekly resistance crossing at 126.74. First support is the 10-day moving average crossing at 123.77. Second support is the 50-day moving average crossing at 121.76.
The March British Pound was lower overnight as it consolidates some of last week's rally. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off February's low, February's high crossing at 1.4302 is the next upside target. Closes below the 10-day moving average crossing at 1.3960 would temper the friendly outlook. First resistance is February's high crossing at 1.4302. Second resistance is January's high crossing at 1.4370. First support is February's low crossing at 1.3780. Second support is the 50-day moving average crossing at 1.3763.
The March Swiss Franc were lower overnight as it consolidates some of the rally off December's low. Stochastics and the RSI are diverging and are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 1.0721 are needed to confirm that a short-term top has been posted. If March extends the rally off December's low, the 38% retracement level of the 2015-2016-decline crossing at 1.0994 is the next upside target. First resistance is last Friday's high crossing at 1.0908. Second resistance is the 38% retracement level of the 2015-2016-decline crossing at 1.0994. First support is the 20-day moving average crossing at 1.0721. Second support is February's low crossing at 1.0589.
The March Canadian Dollar was lower overnight. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If March resumes the decline off January's high, the 75% retracement level of the December-January-rally crossing at 78.56 is the next downside target. Closes above the 20-day moving average crossing at 80.30 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 80.30. Second resistance is January's high crossing at 81.68. First support is the 75% retracement level of the December-January-rally crossing at 78.56. Second support is the 87% retracement level of the December-January-rally crossing at 78.06.
The March Japanese Yen was lower due to profit taking overnight as it consolidates some of this year's rally. Stochastics and the RSI are overbought and are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 0.9228 are needed to confirm that a short-term top has been posted. If March extends the rally off January's low, the 62% retracement level of the 2016 decline crossing at 0.9680 is the next upside target. First resistance is the 50% retracement level of the 2016 decline crossing at 0.9491. Second resistance is the 62% retracement level of the 2016 decline crossing at 0.9680. First support is the 10-day moving average crossing at 0.9283. Second support is the 20-day moving average crossing at 0.9228.
PRECIOUS METALS http://quotes.ino.com/ex changes/?c=metals"
PRECIOUS METALS: April gold was sharply lower overnight as it consolidates some of the rally off February's low. Stochastics and the RSI are overbought and are turning neutral to bearish signaling that a short-term top might be in or is near. If April extends the rally off February's low, January's high crossing at 1370.50 is the next upside target. Closes below the 50-day moving average crossing at 1316.00 would confirm that a short-term top has been posted. First resistance is last Friday's high crossing at 1364.40. Second resistance is January's high crossing at 1370.50. First support is the 50% retracement level of the December-January-rally crossing at 1306.70. Second support is the 62% retracement level of the Dec.-January-rally crossing at 1291.60.
March silver was lower overnight as it consolidates some of the rally off February's low. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If March resumes the decline off January's high, December's low crossing at 15.635 is the next downside target. Closes above the 20-day moving average crossing at 16.832 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 16.832. Second resistance is January's high crossing at 17.705. First support is February's low crossing at 16.130. Second support is December's low crossing at 15.635.
March copper was lower due to profit taking overnight as it consolidates some of the rally off February's low. The low-range trade sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are overbought and are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the 10-day moving average crossing at 315.90 would confirm that a short-term top has been posted. If March extends the rally off February's low, the reaction high crossing at 329.10 is the next upside target. First resistance is the reaction high crossing at 329.10. Second resistance is December's high crossing at 332.20. First support is the 10-day moving average crossing at 315.90. Second support is the 75% retracement level of December's rally crossing at 303.58.
GRAINS http://quotes.ino.com/ex changes/?c=grains
March corn was higher overnight as it extends this year's rally above the 25% retracement level of the July-January-decline crossing at 3.65 1/2. The high-range trade overnight sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off January's low, last September's high crossing at 3.74 1/2 is the next upside target. Closes below the 20-day moving average crossing at 3.62 would confirm that a short-term top has been posted. First resistance is last-October's high crossing at 3.69 1/4. Second resistance is last-September's high crossing at 3.74 1/2. First support is the 20-day moving average crossing at 3.62. Second support is the reaction low crossing at 3.56 1/4.
March wheat was higher overnight. Stochastics and the RSI are neutral signaling that sideways trading is possible near-term. If March extends the rally off January's low, last September's high crossing at 4.82 is the next upside target. Closes below the 20-day moving average crossing at 4.50 are needed to confirm that a short-term top has been posted. First resistance is last Tuesday's high crossing at 4.67 1/4. Second resistance is last September's high crossing at 4.82. First support is the 20-day moving average crossing at 4.50. Second support is the reaction low crossing at 4.38 3/4.
March Kansas City Wheat closed up 8 1/4-cents at 4.78.
March Kansas City wheat closed fractionally higher on Friday as it extends the trading range of the past eight-days. The mid-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are diverging but are neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off December's high, the 38% retracement level of 2017's trading range crossing at 4.88 1/2. Closes below the 20-day moving average crossing at 4.63 are needed to confirm that a short-term top has been posted. First resistance is February's high crossing at 4.84 1/2. Second resistance is the 38% retracement level of 2017's trading range crossing at 4.88 1/2. First support is the 20-day moving average crossing at 4.63. Second support is the 50-day moving average crossing at 4.41.
March Minneapolis wheat was steady to fractionally 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 signaling that sideways trading is possible near-term. If March extends the decline off January's high, the 87% retracement level of the April-July-rally crossing at 5.89 1/2 is the next downside target. Closes above the reaction high crossing at 6.21 1/2 are needed to confirm that a short-term low has been posted. First resistance is the reaction high crossing at 6.21 1/2. Second resistance is January's high crossing at 6.34 1/2. First support is Wednesday's low crossing at 5.99 1/2. Second support is the 87% retracement level of the April-July-rally crossing at 5.89 1/2.
SOYBEAN COMPLEX? http://quotes.ino.com/ex?changes/?c=grains "
March soybeans were higher overnight as they extend the rally off January's low.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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off January's low, last-July's high crossing at 10.50 1/2 is the next upside target. Closes below the 20-day moving average crossing at 9.96 1/4 would confirm that a short-term top has been posted. First resistance is the overnight high crossing at 10.37. Second resistance is last-July's high crossing at 10.50 1/2. First support is the 10-day moving average crossing at 10.05 1/4. Second support is the 20-day moving average crossing at 9.96 1/4.
March soybean meal was higher overnight as it extends the rally off January's low. The high-range trade overnight sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends this winter's rally, weekly resistance crossing at 397.30 is the next upside target. Closes below the 10-day moving average crossing at 357.90 would confirm that a short-term top has been posted. First resistance is the overnight high crossing at 384.50. Second resistance is weekly resistance crossing at 397.30. First support is the 10-day moving average crossing at 357.90. Second support is the 20-day moving average crossing at 347.10.
March soybean oil was steady to slightly higher 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off November's high, the July-2016 low crossing at 31.19 is the next downside target. Closes above the 20-day moving average crossing at 32.37 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 32.37. Second resistance is the 50-day moving average crossing at 32.88. First support is last Tuesday's low crossing at 31.40. Second support is the July-2016 low crossing at 31.19.
LIVESTOCKhttp://quotes.ino.com/exchanges/?c=livestock
April hogs closed down $0.93 at $69.73.
April hogs closed lower on Thursday. The low-range close sets the stage for a steady to lower opening when Friday's session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 72.31 are needed to confirm that a short-term low has been posted. If April renews the decline off January's high, the 75% retracement level of the August-January-rally crossing at 68.07 is the next downside target. First resistance is the 10-day moving average crossing at 70.62. Second resistance is the 20-day moving average crossing at 72.31. First support is Monday's low 68.55. Second support is the 75% retracement level of the August-January-rally crossing at 68.07.
April cattle closed up $2.03 at 127.25.
April cattle closed higher on Thursday and has renewed the rally off January'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 neutral to bullish signaling that sideways to higher prices are possible near-term. If April extends the rally off January's low, November's high crossing at 130.10 is the next upside target. Multiple closes below last Friday's low crossing at 122.80 would confirm that a short-term top has been posted. First resistance is today's high crossing at 127.43. Second resistance is November's high crossing at 130.10. First support is last Friday's low crossing at 122.80. Second support is January's low crossing at 118.05.
March Feeder cattle closed up $1.65 at $149.83.
March Feeder cattle closed higher on Thursday. The high-range close sets the stage for a steady to higher opening when Friday's session begins trading. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. If March renews the rally off December's low, the reaction high crossing at 154.05 is the next upside target. If March resumes the decline off February's high, the reaction low crossing at 142.42 is the next downside target. First resistance is the reaction high crossing at 154.05. Second resistance is the reaction high crossing at 156.13. First support is the reaction low crossing at 142.42. Second support is January's low crossing at 140.13.
FOOD & FIBERhttp://quotes.ino.com/ex changes/?c=food
March coffee closed lower on Thursday. The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are neutral signaling that sideways trading is possible near-term. Multiple closes above the 50-day moving average crossing at 12.32 are needed to confirms that a short-term low has been posted. If March resumes the decline off January's high, December's low crossing at 11.83 is the next downside target.
March cocoa closed sharply higher for the second day in a row on Thursday as it extends the rally off December's low. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off December's low, the 87% retracement level of the November-December-decline crossing at 21.71 is the next upside target. Closes below the 50-day moving average crossing at 19.44 would confirm that a short-term top has been posted.
March sugar closed higher on Thursday. The mid-range close set the stage for a steady opening on Friday. Stochastics and the RSI are neutral to bearish signaling that a short-term top is in or near. If March extends this week's decline, the reaction low crossing at 13.17 is the next downside target. If March resumes the rally off January's low, the 50-day moving average crossing at 14.05 is the next upside target.
March cotton closed lower on Thursday as it extends the decline off January's high. 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 March extends the decline off January's high, the 62% retracement level of the October-January-rally crossing at 73.52 is the next downside target. Closes above the 20-day moving average crossing at 78.40 would confirm that a short-term low has been posted.