KEY EVENTS TO WATCH FOR:

Thursday, January 17, 2019  

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

                       Jobless Claims (expected 220K; previous 216K)

                       Jobless Claims, Net Chg (previous -17K)

                       Continuing Claims (previous 1722000)

                       Continuing Claims, Net Chg (previous -28K)

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. January Philadelphia Fed Business Outlook Survey

                       Business Activity (expected 8.0; previous 9.4)

                       Prices Paid (previous 38.0)

                       Employment (previous 18.3)

                       New Orders (previous 14.5)

                       Prices Received (previous 26.2)

                       Delivery Times (previous 6.7)

                       Inventories (previous -0.2)

                       Shipments (previous 10.0)

8:30 AM ET. December New Residential Construction - Housing Starts and Building

                    Permits * This data will not be released if the partial U.S.

                    Govt shutdown remains in effect

                       Total Starts (expected 1.24M; previous 1.256M)

                       Housing Starts, M/M% (expected -1.3%; previous +3.2%)

                       Building Permits (expected 1.29M; previous 1.328M)

                       Building Permits, M/M% (expected -2.9%; previous +5.0%)

9:45 AM ET. Bloomberg Consumer Comfort Index

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

                       Working Gas In Storage (Cbf) (previous 2614B)

                       Working Gas In Storage, Net Chg (Cbf) (previous -91B)

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 18, 2019   

9:15 AM ET. December Industrial Production & Capacity Utilization

                       Industrial Production, M/M% (expected +0.2%; previous +0.6%)

                       Capacity Utilization % (expected 78.5%; previous 78.5%)

                       Capacity Utilization, Net Chg (Pts) (previous +0.4)

10:00 AM ET. January University of Michigan Survey of Consumers - preliminary data

                       Mid-Mo Sentiment (expected 96.4; previous 97.5)

                       Mid-Mo Expectations (previous 86.1)

                       Mid-Mo Current Idx (previous 115.2)

10:00 AM ET. December Regional & State Employment & Unemployment

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

The STOCK INDEXES:The March NASDAQ 100 was lower in overnight trading as it consolidates some of the rally off December'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 rally off December's low, the 50% retracement level of the October-December-decline crossing at 6787.66 is the next upside target. Closes below the 20-day moving average crossing at 6409.13 would confirm that a short-term top has been posted. First resistance is the 50% retracement level of the October-December-decline crossing at 6787.66. Second resistance is the 62% retracement level of the October-December-decline crossing at 7018.75. First support is the 20-day moving average crossing at 6409.13. Second support is the reaction low crossing at 6136.50.  

The March S&P 500 was lower overnight as it consolidates some of the rally off December'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 rally off December's low, the 62% retracement level of the September-December-decline crossing at 2631.97 is the next upside target. Closes below the 20-day moving average crossing at 2706.38 would confirm that a short-term top has been posted.First resistance is the the 50% retracement level of the September-December-decline crossing at 2631.97. Second resistance is the 62% retracement level of the September-December-decline crossing at 2631.97. First support is the 20-day moving average crossing at 2523.49. Second support is the reaction low crossing at 2439.00.

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

INTEREST RATES: March T-bonds was higher overnight. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below last-Thursday's low crossing at 144-30 would confirm that a short-term top has been posted while opening the door for additional weakness near-term. If March resumes the rally off November's low, weekly resistance crossing at 152-18 is the next upside target. First resistance is January's high crossing at 148-27. Second resistance is weekly resistance crossing at 152-18. First support is Wednesday's low crossing at 144-24. Second support is the 38% retracement level of the November-January rally crossing at 144-00.    

March T-notes was steady to slightly higher overnight. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below last-Wednesday's low crossing at 121.160 are needed to confirm that a short-term top has been posted while renewing the decline off January's high. If March resumes the rally off November's low, weekly resistance crossing at 123.270 is the next upside target. First resistance is January's high crossing at 123.080. Second resistance is weekly resistance crossing at 123.270. First support is last-Wednesday's low crossing at 121.160. Second support is the 38% retracement level of the October-January rally crossing at 120.301. 

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

February crude oil was lower overnight. The low-range overnight trade sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are overbought and are turning neutral to bearish hinting that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 48.37 are needed to confirm that a short-term top has been posted. If February resumes the rally off December's low, the 38% retracement level of the October-December-decline crossing at 55.28 is the next upside target. First resistance is the the 38% retracement level of the October-December-decline crossing at 55.28. Second resistance is the reaction high crossing at 58.36. First support is the 20-day moving average crossing at 48.37. Second support is December's low crossing at 42.36.  

February heating oil was slightly lower overnight. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If February resumes the rally off December's low, the 50% retracement level of the October-December-decline crossing at 197.95 is the next upside target. Closes below the 20-day moving average crossing at 178.32 are needed to confirm that a short-term top has been posted. First resistance is the 50-day moving average crossing at 187.97. Second resistance is the 50% retracement level of the October-December-decline crossing at 197.95. First support is the 20-day moving average crossing at 178.32. Second support is December's low crossing at 163.80. 

February unleaded gas was lower overnight. 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 135.11 would confirm that a short-term top has been posted. Closes above the 50-day moving average crossing at 143.20 would renew the rally off December's low. First resistance is the 50-day moving average crossing at 143.20. Second resistance is December's high crossing at 151.77. First support is December's low crossing at 122.93. Second support is the January-2016 low crossing at 110.45.

February Henry natural gas was higher overnight. The high-range overnight trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. If February extends the rally off January's low, the 50% retracement level of the November-January-decline crossing at 3.866 is the next upside target. Closes below Monday's gap crossing at 3.166 would temper the near-term friendly outlook. First resistance is the 38% retracement level of the November-January-decline crossing at 3.632. Second resistance is the 50% retracement level of the November-January-decline crossing at 3.866. First support is Monday's gap crossing at 3.166. Second support is January's low crossing at 2.878.    

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

CURRENCIES:The March Dollar was steady to slightly lower overnight. Stochastics and the RSI remain neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 95.76 would confirm that a short-term low has been posted. If March resumes the decline off December's high, the 62% retracement level of the September-December-rally crossing at 94.54 is the next downside target. First resistance is the reaction high crossing at 96.65. Second resistance is December's high crossing at 97.19. 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 was mostly steady overnight as it consolidates some of 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 decline off January's high, January's low crossing at 113.77 is the next downside target. Closes above Tuesday's high crossing at 115.50 are needed to confirm that a short-term low has been posted. First resistance is the reaction high crossing at 116.45. Second resistance is the reaction high crossing at 117.00. First support is January's low crossing at 113.77. Second support is November's low crossing at 113.53.    

The March British Pound was slightly higher overnight. The high-range overnight trade sets the stage for a steady to higher opening when the day session beings trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off January's low, the reaction high crossing at 1.3150 is the next upside target. Closes below the 20-day moving average crossing at 1.2782 would confirm that a short-term top has been posted. First resistance is Monday's high crossing at 1.2971. Second resistance is the reaction high crossing at 1.3150. First support is January's low crossing at 1.2512. Second support is the October-2016 low crossing at 1.2384.  

The March Swiss Franc was lower overnight as it extends the decline off January's high. Stochastics and the RSI are neutral to bearish signaling that a short-term top might be in or is near. If March extends this month's decline, December's low crossing at 1.0097 is the next downside target. Closes above Monday's high crossing at 1.0265 would confirm that a short-term low 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 reaction low crossing at 1.0117. Second support is December's low crossing at 1.0097. 

The March Canadian Dollar was lower overnight. 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 74.63 are needed to confirm that a short-term top has been posted.If March resumes the rally off December's low, December's high crossing at 76.15 is the next upside target. First resistance is last-Wednesday's high crossing at 75.99. Second resistance is December's high crossing at 76.15. First support is the 20-day moving average crossing at 74.63. Second support is December's low crossing at 73.30.

The March Japanese Yen was higher overnight as it consolidates some of this week's decline. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off January's high, the 20-day moving average crossing at 0.0919 is the next downside target. If March resumes the rally off November'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 20-day moving average crossing at 0.0919. Second support is the 50-day moving average crossing at 0.0902.   

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

PRECIOUS METALS: April gold was slightly higher overnight as it extends the trading range of the past three-weeks. Stochastics and the RSI are neutral to bearish signaling that a short-term top might be in or is near. If April resumes the rally off November's low, the 62% retracement level of the January-August-decline crossing at 1320.10 is the next upside target. Closes below the 20-day moving average crossing at 1288.40 would confirm that a short-term top has been posted. First resistance is the reaction high crossing at 1306.50. Second resistance is the 62% retracement level of the January-August-decline crossing at 1320.10. First support is the 20-day moving average crossing at 1288.40. Second support is the 50-day moving average crossing at 1259.20.  

March silver was lower overnight while extending the trading range of the past two-weeks. Stochastics and the RSI are neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 15.427 are needed to confirm that a short-term top has been posted. If March resumes the rally off November's low, the 50% retracement level of the 2017-2018-decline crossing at 16.279 is the next upside target. First resistance is the reaction high crossing at 15.955. Second resistance is the 50% retracement level of the 2017-2018-decline crossing at 16.279. First support the 20-day moving average crossing at 15.427. Second support is the 50-day moving average crossing at 14.868.  

March copper was steady to slightly lower overnight. 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 bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 271.47 are needed to confirm that a short-term low has been posted. If March resumes 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 50-day moving average crossing at 271.47. Second resistance is the reaction high crossing at 280.35. First support is January's low crossing at 254.30. Second support is the 62% retracement level of the 2016-2018-rally crossing at 251.75.

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

March corn was higher overnight as it consolidated some of Tuesday's decline. The high-range close sets the stage for a steady to higher opening when the day session begins trading. If March extends the decline off January's high, November's low crossing at 3.67 1/4 is the next downside target. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above Tuesday's high crossing at 3.81 would temper the near-term bearish outlook. First resistance is January's high crossing at 3.84 1/2. Second resistance is December's high crossing at 3.87 3/4. First support is Tuesday's low crossing at 3.71. Second support is November's low crossing at 3.67 1/4.  

March wheat was steady to fractionally higher overnight while extending the September-January trading range. 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 bearish signaling that sideways to lower prices are possible near-term. If March resumes the rally off January's low, December's high crossing at 5.38 1/2 is the next upside target. If March resumes the decline off December's high, psychological support crossing at 5.00 is the next downside target. First resistance is December's high crossing at 5.38 1/2. Second resistance is the 38% retracement level of the August-November-decline crossing at 5.50 1/2. First support is January's low crossing at 5.01 1/4. Second support is psychological support crossing at 5.00.       

March Kansas City Wheat closed unchanged at 4.95 1/2. 

March Kansas City wheat closed unchanged on Wednesday. The low-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term. If March resumes the decline off December's high, November's low crossing at 4.82 1/4 is the next downside target. Closes above last-Wednesday's high crossing at 5.05 1/2 are needed to confirm that a short-term low has been posted.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 December's low crossing at 4.87 1/4. Second support is November's low crossing at 4.82 1/4.

March Minneapolis wheat was higher overnight. The high-range close 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 5.71 1/2 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 5.23 3/4 is the next downside target. First resistance is the 50-day moving average crossing at 5.71 1/2. 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 was higher on overnight as it consolidates some of the decline off last-week's high. 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 bearish signaling that sideways to lower prices are possible near-term. If March extends the aforementioned decline, December's low crossing at 8.80 1/2 is the next downside target. Closes above the 10-day moving average crossing at 9.09 3/4 would 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 December's low crossing at 8.80 1/2. Second support is the reaction low crossing at 8.71 1/4.

March soybean meal was higher overnight due to short covering. The high-range close sets the stage for a steady to higher 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. Of March extends the decline off January's high, December's low crossing at 307.10 is the next downside target. Closes above the 10-day moving average crossing at 316.00 would temper the near-term bearish outlook. First resistance is January's high crossing at 323.60. Second resistance is October's high crossing at 327.40. First support is December's low crossing at 307.10. Second support is September's low crossing at 303.40. 

March soybean oil was higher overnight. The high-range overnight trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March resumes the rally off December's low, the reaction high crossing at 29.09 is the next upside target. Closes below last-Thursday's low crossing at 28.08 would confirm that a short-term top has been posted. First resistance is the reaction high crossing at 29.09. Second resistance is December's high crossing at 29.50. First support is last-Thursday's low crossing at 28.08. Second support is December's low crossing at 27.58.

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

February hogs closed down $2.10 at $60.05. 

February hogs closed sharply lower on Wednesday and renewed the decline off November'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. If February extends the decline off November's high, October's low crossing at 58.78 is the next downside target. Multiple closes above the 50-day moving average crossing at 63.72 are needed to confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 63.72. Second resistance is the reaction high crossing at 66.80. First support is today's low crossing at 59.50. Second support is October's low crossing at 58.78.    

February cattle closed up $0.88 at 127.83. 

February cattle closed higher on Wednesday as it extended the rally off 2018'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 February extends the rally off November's low, weekly resistance crossing at 134.55 is the next upside target. Closes below the 20-day moving average crossing at 123.97 would confirm that a short-term top has been posted. First resistance is today's high crossing at 127.95. Second resistance is weekly resistance crossing at 134.55. First support is the 20-day moving average crossing at 123.97. Second support is the 50-day moving average crossing at 121.93.   

March Feeder cattle closed down $0.05 at $144.70. 

March Feeder cattle closed lower on Wednesday. The high-range close sets the stage for a steady to higher opening when Thursday's session begins trading. Stochastics and the RSI are turning neutral signaling that sideways trading is possible near-term. If March renews the rally off December's low, November's high crossing at 149.23 is the next upside target. 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 January'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 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 bearish signaling that a short-term top might be in or is near. If March resumes the decline off October's high, weekly support crossing at 9.51 is the next downside target. Closes above the 50-day moving average crossing at 10.75 would confirm that a short-term low has been posted.             

March cocoa closed higher on Wednesday. The mid-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at 22.65 are needed to confirm that a short-term top has been posted. If March renews the rally off December's low, July's high crossing at 25.96 is the next upside target.      

March sugar closed higher on Wednesday as it extends the rally off January's low. The high-range close set 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 March extends this month's rally, the reaction high crossing at 13.21 is the next upside target. Closes below the 20-day moving average crossing at 12.47 would confirm that a short-term top has been posted.

March cotton closed higher on Wednesday as it extended the trading range of the past three-weeks. 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 a low might be in or is near. Closes above the reaction high crossing at 73.92 are needed to confirm that a short-term low has been posted. If March resumes the decline off December's high, the 75% retracement level of the 2016-2018-rally crossing at 74.04 is the next downside target.