KEY EVENTS TO WATCH FOR:

Friday, December 28, 2018 

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

                       Corn (Metric Tons) (previous 2517.0K)

                       Soybeans (Metric Tons) (previous 2963.4K)

                       Wheat (Metric Tons) (previous 313.6K)

8:30 AM ET. November Advance Economic Indicators Report

9:45 AM ET. December ISM-Chicago Business Survey - Chicago PMI

                       PMI-Adj (expected 60.0; previous 66.4)

10:00 AM ET. November Pending Home Sales Index

                       Pending Home Sales (previous 102.1)

                       Pending Home Sales Idx, M/M% (expected +1.0%; previous -2.6%)

                       Pending Home Sales Idx , Y/Y% (previous -6.7%)

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

                       Working Gas In Storage (Cbf) (previous 2773B)

                       Working Gas In Storage, Net Chg (Cbf) (previous -141B)

11:00 AM ET. EIA Weekly Petroleum Status Report

                       Crude Oil Stocks (Bbl) (previous 441.457M)

                       Crude Oil Stocks, Net Chg (Bbl) (previous -0.497M)

                       Gasoline Stocks (Bbl) (previous 230.103M)

                       Gasoline Stocks, Net Chg (Bbl) (previous +1.766M)

                       Distillate Stocks (Bbl) (previous 119.9M)

                       Distillate Stocks, Net Chg (Bbl) (previous -4.237M)

                       Refinery Usage (previous 95.4%)

                       Total Prod Supplied (Bbl/day) (previous 22.329M)

                       Total Prod Supplied, Net Chg (Bbl/day) (previous +0.848M)

Monday, December 31, 2018 

10:30 AM ET. December Texas Manufacturing Outlook Survey

                       Business Activity (previous 17.6)

                       Mfg Production Idx (previous 8.4)

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

The March NASDAQ 100 closed higher on Thursday as it extended Wednesday's huge rally. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 6599.29 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 5752.25 is the next downside target. First resistance is the 10-day moving average crossing at 6357.80. Second resistance is the 20-day moving average crossing at 6599.29. First support is Wednesday's low crossing at 5820.50. Second support is long-term support on the weekly continuation chart crossing at 5752.25. 

The March S&P 500 closed higher on Thursday as it extended Wednesday's rally. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 2603.02 are needed to confirm that a short-term low has been posted. If March extends the decline off December's high, the 38% retracement level of the 2008-2018 rally on the monthly continuation chart crossing at 2076.04 is the next downside target. First resistance is the 10-day moving average crossing at 2498.52. Second resistance is the 20-day moving average crossing at 2603.02. First support is Wednesday's low crossing at 2317.70. Second support is the 38% retracement level of the 2008-2018 rally on the monthly continuation chart crossing at 2076.04.

The Dow closed higher on Thursday as it extended Wednesday's record setting rally.The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading.Stochastics and the RSI are oversold and are turning neutral to bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing at 24,107.96 are needed to confirm that a short-term low has been posted. If the Dow extends the decline off December's high, weekly support crossing at 21,600.34 is the next downside target. First resistance is the 10-day moving average crossing at 23,240.46. Second resistance is the 20-day moving average crossing at 24,107.96. First support is Wednesday's low crossing at 21,712.53. Second support is weekly support crossing at 21,600.34.

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March T-bonds closed up 9-points at 144-25.

March T-bonds closed higher on Thursday as it extends the trading range of the past five days. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are overbought, 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 143-00 are needed to confirm that a short-term top has been posted. If March extends the rally off November's low, weekly resistance crossing at 146-23 is the next upside target. First resistance is Wednesday's high crossing at 146-03. Second resistance is weekly resistance crossing at 146-22. First support is the 10-day moving average crossing at 144-09. Second support is the 20-day moving average crossing at 143-00.         

March T-notes closed up 75-points at 121-085.

March T-notes closed higher on Thursday negating Wednesday's key reversal down. The mid-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off November's low, weekly resistance crossing at 122.089 is the next upside target. Closes below the 20-day moving average crossing at 120.169 would confirm that a short-term top has been posted. First resistance is Wednesday's high crossing at 121.205. Second resistance is weekly resistance crossing at 122.089. First support is the 10-day moving average crossing at 120.302. Second support is the 20-day moving average crossing at 120.169.         

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

February crude oil closed lower on Thursday as it consolidates some of Wednesday's rally.The low-range close sets the stage for a steady to lower opening when Friday's night session begins. 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 49.70 are needed to confirm that a short-term low has been posted. If February extends the decline off October's high, the January-2016 low crossing at 41.48 is the next downside target. First resistance is the 20-day moving average crossing at 49.70. Second resistance is the reaction high crossing at 54.55. First support is Monday's low crossing at 45.13. Second support is the January-2016 low crossing at 41.48. 

February heating oil closed lower on Thursday. The low-range close sets the stage for a steady to lower opening when Friday's night trading session begins. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If February extends the decline off October's high, the 87% retracement level of the 2017-2018-rally crossing at 162.34 is the next downside target. Closes above the 20-day moving average crossing at 180.76 are needed to confirm that a low has been posted. First resistance is the 20-day moving average crossing at 180.76. Second resistance is the reaction high crossing at 188.40. First support isthe 87% retracement level of the 2017-2018-rally crossing at 162.34. Second support is the June-19th-2017 low crossing at 150.08.

February unleaded gas closed lower on Thursday. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 139.31 would confirm that a short-term low has been posted. If February extends the decline off October's high, the January-10th 2016 low crossing at 110.45 is the next downside target. First resistance is the reaction high crossing at 151.77. Second resistance is the 50-day moving average crossing at 155.90. First support is Wednesday's low crossing at 122.93. Second support is the January-10th 2016 low crossing at 110.45.

February Henry natural gas closed higher on Thursday as it consolidates some of the decline off November's high. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If February extends this month's decline, the 87% retracement level of the September-November-rally crossing at 3.156 is the next downside target. Closes above the 20-day moving average crossing at 3.960 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 3.626. Second resistance is the 20-day moving average crossing at 3.960. First support is the 87% retracement level of the September-November-rally crossing at 3.154. Second support is September's low crossing at 2.904.    

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

The March Dollar closed lower on Thursday. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If March renewed the decline off December's high, the reaction low crossing at 95.38 is the next downside target. If March renews the rally off September's low, weekly resistance crossing at 97.83 is the next upside target. First resistance is December's high crossing at 97.20. Second resistance is weekly resistance crossing at 97.83. First support is the reaction low crossing at 95.38. Second support is November's low crossing at 94.91.     

The March Euro closed higher on Thursday. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March renews the decline off September's high, the 87% retracement level of the 2016-2018-rally crossing at 111.94 is the next downside target. If March renews the rally off December's low, November's high crossing at 116.45 is the next upside target. First resistance is the reaction high crossing at 115.92. Second resistance is November's high crossing at 116.45. First support is November's low crossing at 113.53. Second support is the 87% retracement level of the 2016-2018-rally crossing at 111.94.    

The March British Pound closed lower on Thursday. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off December's low, the 50-day moving average crossing at 1.2889 is the next upside target. If March resumes the decline off September's high, the October-2016 low crossing at 1.2384 is the next downside target. First resistance is the 50-day moving average crossing at 1.2889. Second resistance is November's high crossing at 1.3257. First support is December's low crossing at 1.2540. Second support is the October-2016 low crossing at 1.2384. 

The March Swiss Franc closed higher on Thursday.The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are neutral signaling that sideways trading is possible near-term. If March resumes the decline off last-Thursday's high, November's low crossing at 1.0018 is the next downside target. If March extends the rally off November's low, the 50% retracement level of the September-November-decline crossing at 1.0330 is the next upside target. First resistance is last-Thursday's high crossing at 1.0252. Second resistance is the 38% retracement level of the September-November-decline crossing at 1.0256. First support is the reaction low crossing at 1.0097. Second support is November's low crossing at 1.0018.

The March Canadian Dollar closed lower on Thursday as it extends the decline off October's high. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are 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 75% retracement level of the 2016-2017-rally crossing at 72.93 is the next downside target. Closes above the 20-day moving average crossing at 74.73 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 74.22. Second resistance is the 20-day moving average crossing at 74.73. First support is today's low crossing at 73.35. Second support is the 75% retracement level of the 2016-2017-rally crossing at 72.93. 

The March Japanese Yen closed higher on Thursday. The mid-range close sets the stage for a steady to higher opening when Friday’s night session begins trading. Stochastics and the RSI are 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 0.0896 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 March-November-decline crossing at 0.0921 is the next upside target. First resistance is Wednesday's high crossing at 0.0914. Second resistance is the 38% retracement level of the March-November-decline crossing at 0.0921. First support is December's low crossing at 1.0886. Second support is November's low crossing at 0.0885.

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

February gold closed higher on Thursday as it extends the rally off August' low. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are becoming overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off November's low, the 50% retracement level of the April-August-Decline crossing at 1285.70 is the next upside target. Closes below the 20-day moving average crossing at 1250.30 would confirm that a short-term top has been posted. First resistance is Wednesday's high crossing at 1270.30. Second resistance is the 50% retracement level of the April-August-Decline crossing at 1285.70.First support is the 10-day moving average crossing at 1258.10. Second support is the 20-day moving average crossing at 1250.30.

March silver closed higher on Thursday as it extends the rally off November's low. The high-range close set the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off December's low, is the 38% retracement level of the 2017-2018-decline crossing at 15.733 is the next upside target. Closes below the 20-day moving average crossing at 14.696 would confirm that a short-term top has been posted. First resistance is today's high crossing at 15.335. Second resistance is the 38% retracement level of the 2017-2018-decline crossing at 15.733. First support is the 20-day moving average crossing at 14.696. Second support is November's low crossing at 13.985.         

March copper closed lower on Thursday. The mid-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that a low might be in or is near. Closes above the 50-day moving average crossing at 274.81would temper the bearish outlook. If March extends the decline off December's high, August's low crossing at 260.00 is the next downside target. First resistance is the reaction high crossing at 280.35. Second resistance is December's high crossing at 285.80. First support is Wednesday's low crossing at 264.20. Second support is August's low crossing at 260.00. 

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March Corn closed up 1 1/2-cents at 3.74 3/4. 

March corn posted an inside day with a higher close on Thursday as it consolidated some of the decline off December's high.The mid-range close sets the stage for a steady to higher opening when Friday's night sessions begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off December's high, November's low crossing near 3.67 1/4 is the next downside target. If March resumes the rally off November's low, November's high crossing at 3.90 is the next upside target. First resistance is December's high crossing at 3.87 3/4. Second resistance is November's high crossing at 3.90. First support is the September-November uptrend line crossing near 3.73 1/4. Second support is November's low crossing at 3.67 1/4. 

March wheat closed up 1-cents at 5.11. 

March wheat closed higher on Thursday. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off December's high, November's low crossing at 5.03 1/4 is the next downside target. If March renews the rally off November's low, the 38% retracement level of the August-November decline crossing at 5.50 1/2 is the next upside target. First resistance is the 10-day moving average crossing at 5.22 3/4. Second resistance is December's high crossing at 5.38 1/2. First support is today's low crossing at 5.07 1/4. Second support is November's low crossing at 5.03 1/4.    

March Kansas City Wheat closed down a 1/2-cent at 4.95. 

March Kansas City wheat closed fractionally lower on Thursday. The mid-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off December's high, the reaction low crossing at 4.90 is the next downside target. Closes above the 50-day moving average crossing at 5.11 3/4 would signal that If March renews the rally off November's low, November's high crossing at 5.33 3/4 is the next upside target. First resistance is December's high crossing at 5.24 1/2. Second resistance is November's high crossing at 5.33 3/4. First support is the reaction low crossing at 4.90. Second support is November's low crossing at 4.82 1/4.  

March Minneapolis wheat closed up 3-cents at 5.52 1/4. 

March Minneapolis wheat closed higher on Thursday as it consolidates some of this month's decline. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends this month's decline, weekly support on the continuation chart crossing at 5.23 3/4 is the next downside target. Closes above the 50-day moving average crossing at 5.78 1/2 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 5.73. Second resistance is December's high crossing at 5.89 1/2. First support is today's low crossing at 5.44 1/2. Second support is weekly support crossing at 5.23 3/4.   

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March soybeans closed down a 1/2-cent at 8.82 1/2.

March soybeans closed fractionally lower on Thursday it extends the decline off December's high. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends this month's decline, the reaction low crossing at 8.57 is the next upside target. Closes above the 20-day moving average crossing at 9.13 are needed to temper the near-term bearish outlook. First resistance is the 38% retracement level of the May-September-decline crossing at 9.21. Second resistance is the 50% retracement level of the May-September-decline crossing at 9.72 1/4. First support is the reaction low crossing at 8.71 1/4. Second support is October's low crossing at 8.58.  

March soybean meal closed up $0.80 at 308.70. 

March soybean meal closed slightly higher on Thursday. The mid-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower possible near-term. If March extends the decline off December's high, November's low crossing at 305.30 is the next downside target. If March renews the rally off November's low, October's high crossing at 327.40 is the next upside target. First resistance is December's high crossing at 321.70. Second resistance is October's high crossing at 327.40. First support is November's low crossing at 305.30. Second support is September's low crossing at 303.40. 

March soybean oil closed down 2 pts. at 27.67. 

March soybean oil lower on Thursday as it extends the decline off December's high. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the aforementioned decline, November's low crossing at 27.42 is the next downside target. Closes above the 20-day moving average crossing at 28.61 are needed to confirm that a low has been posted. First resistance is the 20-day moving average crossing at 28.61. Second resistance is the 62% retracement level of the October-November-decline crossing at 29.33. First support is today's low crossing at 27.58. Second support is November's low crossing at 27.42.   

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February hogs closed up $0.20 at $60.57. 

February hogs closed slightly higher on Thursday. The mid-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If February extends the aforementioned decline, November's low crossing at 59.25 is the next downside target. Closes above the 20-day moving average crossing at 64.56 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 62.32. Second resistance is the 20-day moving average crossing at 64.56. First support is today's low crossing at 60.25. Second support is November's low crossing at 59.25.    

February cattle closed up $1.20 at 123.95. 

February cattle closed higher on Thursday. The mid-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are diverging but are neutral to bullish signaling that sideways to higher prices are possible near-term. If February extends the rally off November's low, weekly resistance crossing at 127.95 is the next upside target. Closes below the 20-day moving average crossing at 122.035 would confirm that a short-term top has been posted. First resistance is today's high crossing at 124.90. Second resistance is weekly resistance crossing at 127.95. First support is the 20-day moving average crossing at 122.04. Second support is the 50-day moving average crossing at 121.30.   

March Feeder cattle closed up $0.88 at $146.65. 

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 are neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off December's low, November's high crossing at 149.23. Closes below the 20-day moving average crossing at 144.11 would temper the near-term friendly outlook. First resistance is today's high crossing at 147.35. Second resistance is November's high crossing at 149.23. First support is the reaction low crossing at 142.72. Second support is December's low crossing at 140.35.  

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 to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 10.39 would confirm that a short-term low has been posted. If March resumes the decline off October's high, weekly support crossing at 9.51 is the next downside target.           

March cocoa posted an inside day with a lower close on Thursday as it consolidates some of the rally off December's low. The low-range close sets the stage for a steady to lower opening on Friday. 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 December's low, July's high crossing at 25.96 is the next upside target. Closes below the 20-day moving average crossing at 22.32 would confirm that a short-term top has been posted.     

March sugar closed lower on Thursday. The low-range close set the stage for a steady to lower opening on Friday. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If March renews the decline off October's high, the reaction low crossing at 11.91 is the next downside target. Closes above the 50-day moving average crossing at 12.93 are needed to confirm that a low has been posted.     

March cotton closed lower on Thursday as it extended this month's decline. 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 possible near-term. If March extends this month's decline, the 75% retracement level of the 2016-2018-rally crossing at 74.04 is the next downside target. Closes above the 50-day moving average crossing at 78.57 are needed to confirm that a short-term low has been posted.