KEY EVENTS TO WATCH FOR:

Monday, December 31, 2018 

10:30 AM ET. December Texas Manufacturing Outlook Survey

                       Business Activity (previous 17.6)

                       Mfg Production Idx (previous 8.4)

Tuesday, January 1, 2019  

  N/A              CANCELLED: U.S. imposes additional tariffs on Chinese products

  N/A              U.S: New Year's Day. Financial markets closed

Wednesday, January 2, 2019  

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

                       Chain Store Sales, W/W% (previous -0.1%)

                       Chain Store Sales, M/M% (previous +3.6%)

8:55 AM ET. Johnson Redbook Retail Sales Index

                       Ret Sales Mo-to-Date, M/M% (previous +0.1%)

                       Ret Sales Mo-to-Date, Y/Y% (previous +7.2%)

                       Latest Wk, Y/Y% (previous +7.8%)

9:45 AM ET. December US Manufacturing PMI

                       PMI, Mfg (previous 55.3)

11:00 AM ET. December Global Manufacturing PMI

                       PMI, Mfg (previous 52)

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

The March NASDAQ 100 closed lower on Friday as it consolidated some of the rally off Wednesday's low. The low-range close sets the stage for a steady to lower 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 20-day moving average crossing at 6566.34 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 20-day moving average crossing at 6566.34. Second resistance is the 50-day moving average crossing at 6782.20. 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 slightly lower on Friday as it consolidates some of the rally off Wednesday's low. The low-range close sets the stage for a steady to lower 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 20-day moving average crossing at 2589.44 are needed to confirm that a short-term low has been posted. If March renews 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 20-day moving average crossing at 2589.44. Second resistance is the 50-day moving average crossing at 2670.57. 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 lower on Friday as it consolidates some of the rally off Wednesday's low.The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading.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 average crossing at 23,992.76 are needed to confirm that a short-term low has been posted. If the Dow renews the decline off December's high, weekly support crossing at 21,600.34 is the next downside target. First resistance is the 20-day moving average crossing at 23,992.76. Second resistance is the 50-day moving average crossing at 24,702.78. 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 28-points at 145-27.

March T-bonds closed higher on Friday as it extends the trading range of the past six-days. 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 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 143-10 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 144-18. Second support is the 20-day moving average crossing at 143-10.         

March T-notes closed up 145-points at 121-255.

March T-notes closed higher on Friday as it extends the rally off October'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 overbought but are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 120.203 would confirm that a short-term top has been posted. If March extends the rally off November's low, weekly resistance crossing at 122.089 is the next upside target. First resistance is today's high crossing at 121.235. Second resistance is weekly resistance crossing at 122.089. First support is the 10-day moving average crossing at 121.0232. Second support is the 20-day moving average crossing at 120.203.         

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February crude oil closed slightly lower on Friday. The mid-range close sets the stage for a steady to lower opening when Monday's night session begins. Stochastics and the RSI have turned neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 49.42 are needed to confirm that a short-term low has been posted. If February renews 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 49.42. 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 Friday. The low-range close sets the stage for a steady to lower opening when Monday'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 180.00 are needed to confirm that a low has been posted. First resistance is the 20-day moving average crossing at 180.00. 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 slightly higher on Friday. The mid-range close sets the stage for a steady to higher opening when Monday'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 138.71 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 154.64. 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 lower on Friday as it extends the decline off November's high. The low-range close sets the stage for a steady to lower opening when Monday'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 3.903 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 3.550. Second resistance is the 20-day moving average crossing at 3.903. 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.    

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The March Dollar closed lower 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 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 slightly higher on Friday. The low-range close sets the stage for a steady to lower 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 March renews the rally off December's low, November's high crossing at 116.45 is the next upside target. 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. 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 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. If March extends the rally off December's low, the 50-day moving average crossing at 1.2880 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 1.2880. 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 slightly higher on Friday.The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral signaling that sideways trading is possible near-term. 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. Closes below Wednesday's low crossing at 1.0117 would temper the near-term friendly outlook. First resistance is today's high crossing at 1.0288. 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 Friday as it extends the decline off October's high. The low-range close sets the stage for a steady to lower opening when Monday'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 74.62 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 74.07. Second resistance is the 20-day moving average crossing at 74.62. First support is today's low crossing at 73.33. Second support is the 75% retracement level of the 2016-2017-rally crossing at 72.93. 

The March Japanese Yen 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 bearish signaling that a short-term top might be in or is near. 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. Closes below the 20-day moving average crossing at 0.0897 are needed to confirm that a short-term top has been posted. 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 the 10-day moving average crossing at 0.0902. Second support is the 20-day moving average crossing at 0.0897.

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February gold closed higher on Friday as it extends the rally off August'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 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 1253.00 would confirm that a short-term top has been posted. First resistance is the 50% retracement level of the April-August-Decline crossing at 1285.70. Second resistance is the 62% retracement level of the April-August-Decline crossing at 1312.70. First support is the 10-day moving average crossing at 1261.70. Second support is the 20-day moving average crossing at 1253.00.

March silver closed higher on Friday as it extends the rally off November's low. The high-range close set the stage for a steady to higher opening when Monday'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 14.750 would confirm that a short-term top has been posted. First resistance is today's high crossing at 15.460. 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 14.750. Second support is the 50-day moving average crossing at 14.625.         

March copper closed slightly lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday'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 274.59 would 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 a 1/2-cent at 3.75. 

March corn closed fractionally higher on Friday as it consolidated some of the decline off December's high.The low-range close sets the stage for a steady to lower opening when Monday'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 Wednesday's low crossing near 3.72 1/2. Second support is November's low crossing at 3.67 1/4. 

March wheat closed up 3/4-cents at 5.11 1/4. 

March wheat closed fractionally higher on Friday. The low-range close sets the stage for a steady to lower opening when Monday'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. Closes above the 20-day moving average crossing at 5.21 1/2 would temper the near-term bearish outlook. First resistance is the 20-day moving average crossing at 5.21 1/2. Second resistance is December's high crossing at 5.38 1/2. First support is Thursday'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 up 1-cent at 4.96. 

March 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 becoming 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, the reaction low crossing at 4.90 is the next downside target. Closes above the 50-day moving average crossing at 5.10 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 down 1 3/4-cents at 5.50 1/2. 

March Minneapolis wheat closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday'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 5.77 1/2 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 5.72. Second resistance is December's high crossing at 5.89 1/2. First support is Thursday'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 up 13-cents at 8.95 1/2.

March soybeans closed higher on Friday it consolidates some of the decline off December's high. 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 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 8.71 1/4 is the next upside target. Closes above the 20-day moving average crossing at 9.12 3/4 are needed to temper the near-term bearish outlook. First resistance is the 50% retracement level of the May-September-decline crossing at 9.46 1/2. Second resistance is the 62% 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 $4.00 at 312.30. 

March soybean meal 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 oversold but are turning neutral to bullish signaling that a low might be in or is near. If March renews the rally off November's low, October's high crossing at 327.40 is the next upside target. If March extends the decline off December's high, November's low crossing at 305.30 is the next downside 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 up 19 pts. at 27.82. 

March soybean oil higher on Friday as it consolidates some of the decline off December's high. 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 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 28.59 are needed to confirm that a low has been posted. First resistance is the 20-day moving average crossing at 28.59. Second resistance is the 62% retracement level of the October-November-decline crossing at 29.33. First support is Thursday's low crossing at 27.58. Second support is November's low crossing at 27.42.   

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February hogs closed up $0.08 at $60.65. 

February hogs closed slightly higher on Friday. The low-range close sets the stage for a steady to lower opening when Monday'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 decline off November's high, November's low crossing at 59.25 is the next downside target. Closes above the 20-day moving average crossing at 64.23 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 61.90. Second resistance is the 20-day moving average crossing at 64.23. First support is Thursday's low crossing at 60.25. Second support is November's low crossing at 59.25.    

February cattle closed up $0.23 at 124.18. 

February cattle closed higher on Friday. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are diverging but remain 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 122.230 would confirm that a short-term top has been posted. First resistance is Thursday'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 122.23. Second support is the 50-day moving average crossing at 121.35.   

March Feeder cattle closed up $0.23 at $146.88. 

March Feeder cattle closed higher on Friday. The mid-range close sets the stage for a steady to higher opening when Monday's 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, November's high crossing at 149.23. Closes below the 20-day moving average crossing at 144.27 would temper the near-term friendly outlook. First resistance is today's high crossing at 147.48. 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 Friday. The low-range close sets the stage for a steady to lower opening on Monday. 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 10.33 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 closed higher on Friday. The high-range close sets the stage for a steady to higher opening on Monday. 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 22.43 would confirm that a short-term top has been posted.     

March sugar closed higher on Friday. The high-range close set 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 March extends 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 12.90 are needed to confirm that a low has been posted.     

March cotton closed slightly higher 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 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 78.43 are needed to confirm that a short-term low has been posted.