KEY EVENTS TO WATCH FOR:

Thursday, March 1, 2018  

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

                       Corn (Metric Tons)

                       Soybeans (Metric Tons)

                       Wheat (Metric Tons)

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

                       Jobless Claims (previous 222K)

                       Jobless Claims, Net Chg (previous -7K)

                       Continuing Claims (previous 1875000)

                       Continuing Claims, Net Chg (previous -73K)

8:30 AM ET. January Personal Income & Outlays

                       Personal Income, M/M% (previous +0.4%)

                       Consumer Spending, M/M% (previous +0.4%)

                       PCE Price Idx, M/M% (previous +0.1%)

                       PCE Price Idx, Y/Y% (previous +1.7%)

                       PCE Core Price Idx, M/M% (previous +0.2%)

                       PCE Core Price Idx, Y/Y% (previous +1.5%)

9:30 AM ET. IMF regular press briefing

9:45 AM ET. February US Manufacturing PMI

                       PMI, Mfg (previous 55.5)

9:45 AM ET. Bloomberg Consumer Comfort Index

10:00 AM ET. January Construction Spending - Construction Put in Place

                       New Construction (previous +0.7%)

                       Residential Construction

10:00 AM ET. February ISM Manufacturing Report on Business

                       Manufacturing PMI (previous 59.1)

                       Prices Idx (previous 72.7)

                       Employment Idx (previous 54.2)

                       Inventories (previous 52.3)

                       New Orders Idx (previous 65.4)

                       Production Idx (previous 64.5)

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

                       Working Gas In Storage (Cbf) (previous 1760B)

                       Working Gas In Storage, Net Chg (Cbf) (previous -124B)

11:00 AM ET. February Global Manufacturing PMI

                       PMI, Mfg (previous 54.4)

4:00 PM ET. February Domestic Auto Industry Sales

                       Auto Sales Annualized (previous 17.16M)

4:30 PM ET. Foreign Central Bank Holdings

4:30 PM ET. Federal Discount Window Borrowings

4:30 PM ET. Money Stock Measures

Friday, March 2, 2018  

9:45 AM ET. February ISM-NY Report on Business

                       Business Index (previous 72.5)

10:00 AM ET. February University of Michigan Survey of Consumers – final

                       End-Mo Sentiment Idx (previous 95.7)

                       End-Mo Expectations Idx (previous 86.3)

                       12-Month Inflation Forecast (previous 2.7%)

                       5-Year Inflation Forecast (previous 2.5%)

                       End-Mo Current Idx (previous 110.5)

  N/A               Texas Independence Day

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

The STOCK INDEXES:The March NASDAQ 100 was lower overnight as traders waited for a fresh appearance before Congress by Federal Reserve chief Jerome Powell.Stochastics and the RSI are overbought but are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the 50-day moving average crossing at 6708.42 are needed to confirm that a short-term top has been posted. If March extends the rally off February's low, January's high crossing at 7047.25 is the next upside target. First resistance is Tuesday's high crossing at 7009.00. Second resistance is January's high crossing at 7047.25. First support is the 50-day moving average crossing at 6708.42. Second support is the 25% retracement level of the 2016-2018-rally crossing at 6504.28.  

The March S&P 500 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 a short-term top might be in or is near. Closes below last Thursday's low crossing at 2684.00 are needed to confirm that a short-term top has been posted. If March extends the rally off February's low, the reaction high crossing at 2839.00 is the next upside target. First resistance is Tuesday's high crossing at 2789.50. Second resistance is the reaction high crossing at 2839.00. First support is last Thursday's low crossing at 2684.00. Second support is the 25% retracement level of the 2016-2018-rally crossing at 2651.19.    

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

INTEREST RATES: March T-bonds were 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 144-13 are needed to confirm that a short-term low has been posted. If March resumes the decline off December's high, weekly support crossing at 140-03 is the next downside target. First resistance is the 20-day moving average crossing at 144-13. Second resistance is the reaction high crossing at 147-23. First support is February's low crossing at 142-14. Second support is weekly support crossing at 140-03.  

March T-notes were higher 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 120.256 are needed to confirm that a short-term low has been posted. If March resumes the decline off last September's high, weekly support crossing at 119.170 is the next downside target. First resistance is the 20-day moving average crossing at 120.256. Second resistance is the 50-day moving average crossing at 122.041. First support is February'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 lower overnight.Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below last Thursday's low crossing at 60.75 are needed to confirm that a short-term top has been posted. If April renews the rally off February's low, January's high crossing at 66.39 is the next upside target. First resistance is Monday's high crossing at 64.24. Second resistance is January's high crossing at 66.39. First support is last Thursday's low crossing at 60.75. Second support is February's low crossing at 57.90.  

April heating oil was lower overnight as it extends this week's decline. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term. If April extends this week's decline, February's low crossing at 180.97 is the next downside target. Multiple closes above the 50-day moving average crossing at 198.69 are needed to confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 198.69. Second resistance is the reaction high crossing at 208.80. First support is the overnight low crossing at 188.64. Second support is February's low crossing at 180.97. 

April unleaded gas was lower overnight as it extends this week's decline. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below last Wednesday's low crossing at 191.34 are needed to confirm that a short-term top has been posted. If April renews the rally off February's high, the reaction high crossing at 208.46 is the next upside target. First resistance is Monday's high crossing at 201.22. Second resistance is the reaction high crossing at 208.46. First support is last Wednesday's low crossing at 191.34. Second support is February's low crossing at 165.19. 

April Henry natural gas was slightly lower overnight. Stochastics and the RSI are turning 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 50-day moving average crossing at 2.719 are needed to confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 2.719. Second resistance is the reaction high crossing at 2.833. 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 and spiked above the 38% retracement level of the November-February-decline crossing at 90.67 as it extends the rally off February's low. 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 aforementioned rally, the 50% retracement level of the November-February-decline crossing at 91.46. Closes below the 20-day moving average crossing at 89.71 would confirm that a short-term top has been posted. First resistance is the 38% retracement level of the November-February-decline crossing at 90.67. Second resistance is the 50% retracement level of the November-February-decline crossing at 91.46. First support is Monday's low crossing at 89.43. Second support is February's low crossing at 88.15.

The March Euro was lower overnight as it extends the decline off February's high. 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 February's high, the 50% retracement level of the November-February-rally crossing at 121.15 is the next downside target. Closes above the 20-day moving average crossing at 123.57 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 123.57. Second resistance is February's high crossing at 125.80. First support is the overnight low crossing at 121.91. Second support is the 50% retracement level of the November-February-decline crossing at 121.15. 

The March British Pound was lower overnight as it extends the decline off January's high. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the aforementioned decline, the 38% retracement level of the 2016-2017-rally crossing at 1.3568 is the next downside target. Closes above Monday's high crossing at 1.4082 would confirm that a short-term low has been posted. First resistance is the reaction high crossing at 1.4160. Second high is January's high crossing at 1.4370. First support is the overnight low crossing at 1.3734. Second support is the 38% retracement level of the 2016-2017-rally crossing at 1.3568.  

The March Swiss Franc were lower overnight as it extends the decline off February's high. 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 February's high, the 50-day moving average crossing at 1.0520 is the next downside target. Closes above the 20-day moving average crossing at 1.0714 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 1.0714. Second resistance is February's high crossing at 1.0908. First support is February's low crossing at 1.0589. Second support is the 50-day moving average crossing at 1.0520.     

The March Canadian Dollar was lower overnight as it extends 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 March extends the decline off January's high, December's low crossing at 77.52 is the next downside target. Closes above the 20-day moving average crossing at 79.40 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 78.86. Second resistance is the 20-day moving average crossing at 79.40. First support is the overnight low crossing at 77.79. Second support is December's low crossing at 77.52.

The March Japanese Yen was slightly lower overnight. Stochastics and the RSI are neutral signaling that sideways trading is possible near-term. If March resumes the rally off January's low, the 62% retracement level of the 2016 decline crossing at 0.9680 is the next upside target. Closes below the 20-day moving average crossing at 0.9288 are needed to confirm that a short-term top has been posted. 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 20-day moving average crossing at 0.9288. Second support is the 50-day moving average crossing at 0.9115.  

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

PRECIOUS METALS: April gold was lower overnight as it extends the decline off February's high. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If April extends the aforementioned decline, February's low crossing at 1309.00 is the next downside target. Closes above Monday's high crossing at 1342.90 are needed to confirm that a short-term low has been posted. First resistance is February's high crossing at 1364.40. Second resistance is January's high crossing at 1370.50. First support is February's low crossing at 1309.00. Second support is the 50% retracement level of the December-January-rally crossing at 1306.70.

May silver was lower overnight as it extends this week's decline. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends this week's decline, February's low crossing at 16.210 is the next downside target. Closes above the reaction high crossing at 17.025 are needed to confirm that a short-term low has been posted and would open the door for additional gains near-term. First resistance is the reaction high crossing at 17.025. Second resistance is January's high crossing at 17.785. First support is February's low crossing at 16.210. Second support is December's low crossing at 15.705. 

May copper was lower overnight as it extends this week's decline. The low-range 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 March extends this week's decline, February's low crossing at 304.65 is the next downside target. Closes above the 50-day moving average crossing at 321.76 would confirm that a short-term low has been posted. First resistance is February's high crossing at 329.05. Second resistance is December's high crossing at 333.35. First support is the overnight low crossing at 310.75. Second support is February's low crossing at 304.65. 

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

May corn was lower due to profit taking overnight as it consolidates some of the rally off January's low. The low-range trade overnight sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are overbought but 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 3.73 3/4 would confirm that a short-term top has been posted. If May extends the rally off January's low, the 50% retracement level of the July-January-decline crossing at 3.91 3/4 is the next upside target. First resistance is the 38% retracement level of the July-January-decline crossing at 3.82 3/4. Second resistance is the 50% retracement level of the July-January-decline crossing at 3.91 3/4. First support is the 20-day moving average crossing at 3.73 3/4. Second support is the 50-day moving average crossing at 3.65 3/4.  

May wheat was lower overnight as it consolidates some of the rally off December's low. Stochastics and the RSI are overbought, diverging but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If May extends the rally off January's low, the 50% retracement level of 2017's decline crossing at 5.16 1/4 is the next upside target. Closes below the 20-day moving average crossing at 4.69 1/2 would confirm that a short-term top has been posted. First resistance is the 38% retracement level of 2017's decline crossing at 4.94. Second resistance is the 50% retracement level of 2017's decline crossing at 5.16 1/4. First support is the 20-day moving average crossing at 4.69 1/2. Second support is the 50-day moving average crossing at 4.53 1/2.    

May Kansas City Wheat closed up 19 1/4-cents at 5.08 1/4. 

May Kansas City wheat closed sharply higher on Wednesday due to dry weather concerns across the Plains as it extends the rally off December's low. Today's rally tested resistance marked by the 50% retracement level of 2017's decline crossing at 5.21 3/4. The high-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are becoming overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If May extends the rally off December's high, the 62% retracement level of 2017's decline crossing at 5.36 1/2. Closes below last Thursday's low crossing at 4.75 3/4 are needed to confirm that a short-term top has been posted. First resistance is the 50% retracement level of 2017's decline crossing at 5.21 3/4. Second resistance is the 62% retracement level of 2017's decline crossing at 5.36 1/2. First support is Thursday's low crossing at 4.75 3/4. Second support is the reaction low crossing at 4.69 3/4.  

May Minneapolis wheat was steady overnight as it consolidates some of Wednesday's rally. 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. Closes above the 50-day moving average crossing at 6.21 1/2 are needed to confirm that a short-term low has been posted. If May extends the decline off January's high, the 87% retracement level of the April-July-rally crossing at 5.89 1/4 is the next downside target. First resistance is the reaction high crossing at 6.27 1/2. Second resistance is the reaction high crossing at 6.31 1/4. First support is Wednesday's low crossing at 6.08. Second support is the 87% retracement level of the April-July-rally crossing at 5.89 1/4. 

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

May soybeans were lower overnight as it consolidates some of the rally off January's low. 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If May extends the rally off January's low, weekly resistance crossing at 10.80 is the next upside target. Closes below the 20-day moving average crossing at 10.23 would confirm that a short-term top has been posted. First resistance is the overnight high crossing at 10.63 1/4. Second resistance is weekly resistance crossing at 10.80. First support is the 10-day moving average crossing at 10.44 1/4. Second support is the 20-day moving average crossing at 10.23.

May soybean meal was lower overnight as it consolidates some of the rally off January's low. The mid-range trade overnight sets the stage for a steady to lower 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 May extends this winter's rally, weekly resistance crossing at 414.70 is the next upside target. Closes below the 10-day moving average crossing at 382.30 would confirm that a short-term top has been posted. First resistance is Wednesday's high crossing at 399.20. Second resistance is weekly resistance crossing at 414.70. First support is the 10-day moving average crossing at 382.30. Second support is the 20-day moving average crossing at 364.60.

May soybean oil was lower overnight as it extends this week's decline.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 bearish signaling that sideways to lower prices are possible near-term. If May resumes the decline off November's high, the July-2016 low crossing at 31.37 is the next downside target. Closes above the 50-day moving average crossing at 32.87 are needed to confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 32.87. Second resistance is February's high crossing at 33.50. First support is February's low crossing at 31.61. Second support is the July-2016-low crossing at 31.37.

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

April hogs closed down $2.73 at $67.23. 

April hogs gapped down and closed sharply lower on Wednesday as it renewed the decline off January's high. The low-range close sets the stage for a steady to lower opening when Thursday's session begins trading. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term. If April extends the decline off January's high, the 87% retracement level of the August-January-rally crossing at 66.60 is the next downside target. Closes above the 20-day moving average crossing at 70.41 are needed to confirm that a short-term low has been posted. First resistance is Monday's high crossing at 71.95. Second resistance is the 50-day moving average crossing at 73.00. First support is the 87% retracement level of the August-January-rally crossing at 66.60. Second support is last-August low crossing at 65.03.

April cattle closed down $0.98 at 123.28. 

April cattle closed lower on Wednesday as it extends the decline off February's high. The low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Multiple closes below reaction low crossing at 122.80 are needed to confirm that a short-term top has been posted. If April resumes the rally off January's low, November's high crossing at 130.10 is the next upside target. First resistance is February's high crossing at 127.95. Second resistance is November's high crossing at 130.10. First support is the reaction low crossing at 122.80. Second support is January's low crossing at 118.05.

April Feeder cattle closed down $2.20 at $147.00. 

April Feeder cattle closed lower on Wednesday as it renewed the decline off February's high. The low-range close sets the stage for a steady to lower opening when Thursday's session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If April extends the aforementioned decline, February's low crossing at 145.63 is the next downside target. If April renews the rally off February's low, the reaction high crossing at 153.88 is the next upside target. First resistance is February's high crossing at 153.10. Second resistance is November's high crossing at 158.73. First support is February's low crossing at 145.63. Second support is the reaction low crossing at 143.20.   

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

May 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 bullish signaling that sideways to higher prices are possible near-term. Multiple closes above the 50-day moving average crossing at 12.48 are needed to confirms that a short-term low has been posted. If May renews the decline off January's high, weekly support crossing at 11.55 is the next downside target.   

May cocoa closed slightly lower on Wednesday. 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 May extends the rally off December's low, the 38% retracement level of the 2016-2017-decline crossing at 22.91 is the next upside target. Closes below the 20-day moving average crossing at 21.06 would confirm that a short-term top has been posted. 

May sugar posted a key reversal up as it closed sharply higher on Wednesday. The high-range close set the stage for a steady to higher opening on Thursday. Stochastics and the RSI are diverging and are turning neutral to bullish signaling that a short-term low might be in or is near. Closes above last Thursday's high crossing at 13.63 are needed to confirm that a low has been posted. If May extends this month's decline, the September-2015 low crossing at 12.74 is the next downside target. 

May cotton closed higher on Wednesday as it extends the rally off February's low. 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 May extends the aforementioned rally, January's high crossing at 84.45 is the next upside target. Closes below the 20-day moving average crossing at 78.87 would confirm that a short-term top has been posted.