KEY EVENTS TO WATCH FOR:

Thursday, January 10, 2019  

8:30 AM ET. U.S. Weekly Export Sales * This data will not be released if the partial U.S. Govt                    

                      shutdown remains in effect

                       Corn (Metric Tons)

                       Soybeans (Metric Tons)

                       Wheat (Metric Tons)

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

                       Jobless Claims (expected 225K; previous 231K)

                       Jobless Claims, Net Chg (previous +10K)

                       Continuing Claims (previous 1740000)

                       Continuing Claims, Net Chg (previous +32K)

9:45 AM ET. Bloomberg Consumer Comfort Index

10:00 AM ET. November Monthly Wholesale Trade * This data will not be released if

                        the partial U.S. Govt shutdown remains in effect

                       Inventories, M/M% (expected +0.3%; previous +0.8%)

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

                       Working Gas In Storage (Cbf) (previous 2705B)

                       Working Gas In Storage, Net Chg (Cbf) (previous -20B)

12:00 PM ET. December Monthly U.S. Retail Chain Store Sales Index

4:30 PM ET. Money Stock Measures

4:30 PM ET. Foreign Central Bank Holdings

4:30 PM ET. Federal Discount Window Borrowings

Friday, January 11, 2019  

8:30 AM ET. December Real Earnings

8:30 AM ET. December CPI

                       CPI, M/M% (expected -0.1%; previous +0.0%)

                       Core CPI, M/M% (expected +0.2%; previous +0.2%)

                       Energy Idx, M/M% (previous -2.2%)

                       Food Idx, M/M% (previous  -0.2%)

                       Real Avg Wkly Pay-Infla Adj, M/M% (previous -0.1%)

                       CPI, Y/Y% (expected +1.9%; previous +2.2%)

                       Core Annual, Y/Y% (expected +2.2%; previous +2.2%)

12:00 PM ET. World Agricultural Supply & Demand Estimates (WASDE) * This

                    data will not be released if the partial U.S. Govt shutdown remains in effect

                       Corn, End Stocks (Bushels) (previous 1781M)

                       Soybeans, End Stocks (Bushels) (previous 955M)

                       Wheat, End Stocks (Bushels) (previous 974M)

                       Cotton, End Stocks (Bales) (previous 4.40M)

2:00 PM ET. December Monthly Treasury Statement of Receipts & Outlays of the U.S. Govt

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

The March NASDAQ 100 closed higher on Wednesday as it extended the rally off December's low. The mid-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to high prices are possible near-term. If March extend the rally off December's low, the 50-day moving average crossing at 6691.75 is the next upside target. Closes below last-Friday's low crossing at 6136.50 would signal that a short-term top has likely been posted. First resistance is the 50-day moving average crossing at 6691.75. Second resistance is the reaction high crossing at 6897.00. First support is last-Friday's low crossing at 6136.50. Second support is December's low crossing at 5820.50. 

The March S&P 500 closed higher on Wednesday as it extends the rally off December's low. The mid-range close sets the stage for a steady to higher opening when Thursday'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, the 50-day moving average crossing at 2642.13 is the next upside target. Closes below last-Friday's low crossing at 2439.00 would confirm that a short-term top has been posted. First resistance is the 50-day moving average crossing at 2642.13. Second resistance is the reaction high crossing at 2656.60. First support is last-Friday's low crossing at 2439.00. Second support is December's low crossing at 2317.70.

The Dow closed higher for the fourth-day in a row on Wednesday as it extended the rally off December's low. The mid-range close sets the stage for a steady to higher opening when Thursday'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 the Dow extends the rally off December's low, the 50% retracement level of the October-December-decline crossing at 24,342.49 is the next upside target. First resistance is the 50% retracement level of the October-December-decline crossing at 24,342.49. Second resistance is the 50-day moving average crossing at 24,451.49. First support is last-Thursday's low crossing at 22,638.41. Second support is December's low crossing at 22,638.41.

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March T-bonds closed down 7-points at 145-26.

March T-bonds closed lower on Wednesday as it extended the decline off last-Friday's high. The high-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 145-00 are needed to confirm that a short-term top has been posted. If March resumes the rally off November's low, the 38% retracement level of the 2016-2018-decline crossing at 152-01 is the next upside target. First resistance is last-Friday's high crossing at 148-27. Second resistance is the 38% retracement level of the 2016-2018-decline crossing at 152-01. First support is the 20-day moving average crossing at 145-00. Second support is the reaction low crossing at 144-13.         

March T-notes closed up 35-points at 121-240.

March T-notes closed higher on Wednesday as it consolidated some of the decline off last-Thursday's high. The high-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 121.108 are needed to confirm that a short-term top has been posted. If March renews the rally off November's low, the 38% retracement level of the 2016-2018-decline on the weekly continuation chart crossing at 123.270 is the next upside target. First resistance is last-Thursday's high crossing at 123.055. Second resistance is the 38% retracement level of the 2016-2018-decline on the weekly continuation chart crossing at 123.270. First support is the 20-day moving average crossing at 121.108. Second support is the reaction low crossing at 120.280.        

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

February crude oil closed higher on Wednesday as it extends the rally off December's low. The high-range close sets the stage for a steady to higher opening when Thursday's night session begins. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If February extends the rally off December's low, the 50-day moving average crossing at 53.36 is the next upside target. 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 50-day moving average crossing at 53.36. Second resistance is the 38% retracement level of the October-December-decline crossing at 55.28. First support is December's low crossing at 45.13. Second support is the January-2016 low crossing at 41.48. 

February heating oil closed higher on Wednesday as it extends the rally off December's low. The high-range close sets the stage for a steady to higher opening when Thursday's night trading session begins. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If February extends the rally off December's low, the 50-day moving average crossing at 191.99 is the next upside target. Closes below the 10-day moving average crossing at 174.79 would confirm that a short-term top has been posted. If February renews the decline off October's high, the 87% retracement level of the 2017-2018-rally crossing at 162.34 is the next downside target. First resistance is the 50-day moving average crossing at 191.99. Second resistance is the 50% retracement level of the October-December-decline crossing at 197.95 is the next upside target. First support is the 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 higher on Wednesday. The high-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If February extends the rally off December's low, the 50-day moving average crossing at 147.41 is the next upside target. Closes below the 10-day moving average crossing at 133.88 would confirm that a short-term top has been posted. First resistance is the 50-day moving average crossing at 147.41. Second resistance is the reaction high crossing at 151.77. First support is December's low crossing at 122.93. Second support is the January-10th 2016 low crossing at 110.45.

February Henry natural gas closed slightly higher on Wednesday as it extended the trading range of the past six-days. The high-range close sets the stage for a steady to higher opening when Thursday'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 February-2016 low crossing at 2.770 is the next downside target. Closes above last-Monday's gap crossing at 3.278 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 3.105. Second resistance is the 20-day moving average crossing at 3.430. First support is last-Thursday's low crossing at 2.878. Second support is the February-2016 low crossing at 2.770.    

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

The March Dollar closed sharply lower on Wednesday as it extends the decline off December'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 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 62% retracement level of the September-December-rally crossing at 94.53 is the next downside target. Closes above the 20-day moving average crossing at 96.13 are needed to confirm that a short-term low has been posted. First resistance is the reaction high crossing at 96.65. Second resistance is December's high crossing at 97.20. First support is the 62% retracement level of the September-December-rally crossing at 94.54. Second support is the 75% retracement level of the September-December-rally crossing at 93.97.    

The March Euro closed higher on Wednesday while extending the September-January trading range. The high-range close sets the stage for a steady to higher opening when Thursday'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, 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 today's high crossing at 116.24. 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 Wednesday. The high-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. 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 1.2841 would open the door for a possible test of November's high crossing at 1.3257. 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 reaction high crossing at 1.2862. Second resistance is November's high crossing at 1.3257. First support is last-Thursday's low crossing at 1.2512. Second support is the October-2016 low crossing at 1.2384. 

The March Swiss Franc closed higher on Wednesday as it extends the rally off November's low.The high-range close sets the stage for a steady to higher opening when Thursday'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 62% retracement level of the September-November-decline crossing at 1.0405 is the next upside target. Closes below the reaction low crossing at 1.0117 would confirm that a short-term top has been posted. First resistance is the 50% retracement level of the September-November-decline crossing at 1.0330. Second resistance is the 62% retracement level of the September-November-decline crossing at 1.0405. First support is the 20-day moving average crossing at 1.0193. Second support is the 50-day moving average crossing at 1.0149.

The March Canadian Dollar closed higher for the fifth-day in a row on Wednesday as it extends the rally off December's low. The mid-range close sets the stage for a steady to higher opening when Thursday'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 this month's rally, December's high crossing at 76.15 is the next upside target. Closes below the 10-day moving average crossing at 74.37 would confirm that a short-term top has been posted. First resistance is today's high crossing at 75.99. Second resistance is December's high crossing at 76.15. First support is December's low crossing at 73.30. Second support is the 75% retracement level of the 2016-2017-rally crossing at 72.93. 

The March Japanese Yen closed higher on Wednesday ending a three-day correction. The high-range close sets the stage for a steady to higher 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. If March extends the decline off last-Thursday's high, the 10-day moving average crossing at 0.0920 is the next downside target. If March renews the rally off December's low, the 75% retracement level of the March-November-decline crossing at 0.0957 is the next upside target. First resistance is the 62% retracement level of the March-November-decline crossing at 0.0944. Second resistance is the 75% retracement level of the March-November-decline crossing at 0.0957. First support is the 10-day moving average crossing at 0.0920. Second support is the 20-day moving average crossing at 0.0908.  

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

February gold closed higher on Wednesday. The high-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are overbought remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off November's low, the 62% retracement level of the April-August-Decline crossing at 1312.70 is the next upside target. Closes below the 20-day moving average crossing at 1269.40 would confirm that a short-term top has been posted. First resistance is last-Friday's high crossing at 1300.40. Second resistance is the 62% retracement level of the April-August-Decline crossing at 1312.70. First support is the 20-day moving average crossing at 1269.40. Second support is the 50-day moving average crossing at 1246.40.

March silver closed higher on Wednesday. The high-range close set the stage for a steady to higher opening when Thursday'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, the 50% retracement level of the 2017-2018-decline crossing at 16.279 is the next upside target. Closes below the 20-day moving average crossing at 15.158 would confirm that a short-term top has been posted. First resistance is last-Friday's high crossing at 15.955. Second resistance is the 50% retracement level of the 2017-2018-decline crossing at 16.279. First support is the 10-day moving average crossing at 15.572. Second support is the 20-day moving average crossing at 15.158.         

March copper closed higher on Wednesday. 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 bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 272.53 would confirm that a short-term low has been posted. If March renews the decline off December's high, the 62% retracement level of the 2016-2018-rally crossing at 251.75 is the next downside target. First resistance is the 20-day moving average crossing at 268.12. Second resistance is the 50-day moving average crossing at 272.53. First support is last-Thursday's low crossing at 254.30. Second support isthe 62% retracement level of the 2016-2018-rally crossing at 251.75.

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

March Corn closed up 2-cents at 3.82. 

March corn closed higher on Wednesday. The mid-range close sets the stage for a steady to higher opening when Thursday's night sessions 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, December's high crossing at 3.87 3/4 is the next upside target. If March resumes the decline off December's high, November's low crossing near 3.67 1/4 is the next downside 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 December's low crossing near 3.72 1/2. Second support is November's low crossing at 3.67 1/4. 

March wheat closed up 1 3/4-cents at 5.19 1/2. 

March wheat closed higher on Wednesday. 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 bullish signaling that sideways to higher prices are possible near-term. Multiple closes above the 20-day moving average crossing at 5.19 1/2 would temper the near-term bearish outlook. If March extends the decline off December's high, psychological support crossing at 5.00 is the next downside target. First resistance is the 20-day moving average crossing at 5.19 1/2. Second resistance is December's high crossing at 5.38 1/2. First support is last-Wednesday's low crossing at 5.01 1/4. Second support is psychological support crossing at 5.00.    

March Kansas City Wheat closed up a 1/2-cent at 5.05 1/2. 

March Kansas City wheat closed fractionally higher on Wednesday. The low-range close sets the stage for a steady to lower opening on Thursday. 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 5.06 3/4 would confirm that a short-term low has been posted. If March resumes the decline off December's high, November's low crossing at 4.82 1/4 is the next downside 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 last-Monday's low crossing at 4.87 1/4. Second support is November's low crossing at 4.82 1/4.  

March Minneapolis wheat closed up 3 1/4-cents at 5.70 1/2. 

March Minneapolis wheat closed higher on Wednesday. The mid-range close sets the stage for a steady opening when Thursday'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 50-day moving average crossing at 5.73 3/4 are needed to confirm that a short-term low has been posted. If March resumes the decline off December's high, weekly support on the continuation chart crossing at 5.23 3/4 is the next downside target. First resistance is the 50-day moving average crossing at 5.73 3/4. Second resistance is December's high crossing at 5.89 1/2. First support is December's low crossing at 5.44 1/2. Second support is weekly support crossing at 5.23 3/4.   

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

March soybeans closed up 6-cents at 9.24 1/2.

March soybeans closed higher on Wednesday as it extends the rally off December's low. The high-range close sets the stage for a steady to higher opening when Thursday'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 aforementioned rally, December's high crossing at 9.41. Closes below the 50-day moving average crossing at 9.03 would confirm that a short-term top has been posted. 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 December's low crossing at 8.80 1/4. Second support is the reaction low crossing at 8.71 1/4.  

March soybean meal closed up $2.10 at 323.70. 

March soybean meal closed higher on Wednesday as it extends the rally off December's low. The high-range close sets the stage for a steady to higher opening when Thursday'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, October's high crossing at 327.40 is the next upside target. Closes below the 50-day moving average crossing at 313.20 would confirm that a short-term top has been posted. First resistance is today's high crossing at 324.60. Second resistance is October's high crossing at 327.40. First support is December's low crossing at 307.10. Second support is November's low crossing at 305.30.  

March soybean oil closed up 15 pts. at 28.58. 

March soybean oil closed higher on Wednesday. The high-range close sets the stage for a steady to higher opening when Thursday'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, December's high crossing at 29.50 is the next upside target. Closes below the 10-day moving average crossing at 28.17 would temper the near-term friendly outlook. First resistance is the reaction high crossing at 29.09. Second resistance is December's high crossing at 29.50. First support is December's low crossing at 27.58. Second support is November's low crossing at 27.42.   

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

February hogs closed up $1.18 at $63.78. 

February hogs closed higher on Wednesday as it extends the rally off December's low. The high-range close sets the stage for a steady to higher opening when Thursday'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 50-day moving average crossing at 64.08 would confirm that a short-term low has been posted. If February renews the decline off November's high, November's low crossing at 59.25 is the next downside target. First resistance is the 50-day moving average crossing at 64.08. Second resistance is the reaction high crossing at 66.80. First support is December's low crossing at 60.20. Second support is November's low crossing at 59.25.    

February cattle closed down $0.50 at 124.80. 

February cattle posted an inside day with a lower close on Wednesday. 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 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 50-day moving average crossing at 121.56 would confirm that a short-term top has been posted. First resistance is Tuesday's high crossing at 125.48. Second resistance is weekly resistance crossing at 127.95. First support is the 50-day moving average crossing at 121.56. Second support is the reaction low crossing at 120.47.   

March Feeder cattle closed down $0.55 at $144.90. 

March Feeder cattle closed lower on Wednesday. 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 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 149.23. If March resumes this month's decline, December's low crossing at 140.35 is the next downside target. First resistance is last-Monday's high crossing at 147.58. Second resistance is November's high crossing at 149.23. First support is Monday's low crossing at 142.00. Second support is December's low crossing at 140.35.  

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

March coffee closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends Tuesday's rally, the 38% retracement level of the October-December-decline crossing at 11.02 is the next upside target. If March resumes the decline off October's high, weekly support crossing at 9.51 is the next downside target.            

March cocoa closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening on Thursday. 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 23.17 would confirm that a short-term top has been posted. If March extends the rally off December's low, July's high crossing at 25.96 is the next upside target.      

March sugar closed higher on Wednesday. The high-range close set 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. If March extends this week's rally, the reaction high crossing at 12.67 is the next upside target. Closes below the 10-day moving average crossing at 12.29 would confirm that a short-term top has been posted.

March cotton closed higher on Wednesday. The high-range close sets the stage for a steady to higher opening on Thursday. 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 74.73 are needed to confirm that a short-term low has been posted. 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.