INO Evening Market Comments
0 responses | 0 likes
Started by tallpine - Jan. 28, 2019, 4:26 p.m.

KEY EVENTS TO WATCH FOR:



Tuesday, January 29, 2019 



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



                       Chain Store Sales, W/W% (previous -1.3%)



                       Chain Store Sales, M/M% (previous +0.7%)



8:30 AM ET. December Advance Economic Indicators Report



8:30 AM ET. 3rd Quarter GDP by State * This data will not be released if the partial

                    U.S. Govt shutdown remains in effect



8:55 AM ET. Johnson Redbook Retail Sales Index



                       Ret Sales Mo-to-Date, M/M% (previous -1.5%)



                       Ret Sales Mo-to-Date, Y/Y% (previous +6.8%)



                       Latest Wk, Y/Y% (previous +7.0%)



9:00 AM ET. November S&P CoreLogic Case-Shiller Indices



                       10-City Idx, M/M% (previous +0%)



                       10-City Idx, Y/Y% (previous +4.7%)



                       20-City Idx, M/M% (previous +0%)



                       20-City Idx, Y/Y% (previous +5.0%)



                       National Idx, M/M% (previous +0.1%)



                       National Idx, Y/Y% (previous +5.5%)



10:00 AM ET. 4th Quarter U.S. Housing Vacancies



10:00 AM ET. January Consumer Confidence Index



                       Cons Conf Idx (previous 128.1)



                       Expectation Idx (previous 99.1)



                       Present Situation Idx (previous 171.6)



4:30 PM ET. API Weekly Statistical Bulletin



                       Crude Stocks, Net Chg (Bbls) (previous +6.6M)



                       Gasoline Stocks, Net Chg (Bbls) (previous +3.6M)



                       Distillate Stocks, Net Chg (Bbls) (previous +2.6M)



  N/A              POSTPONED: Trump delivers second State of the Union address



  N/A              Advanced Reactors Technical Summit



  N/A              U.S. Federal Open Market Committee meeting



  N/A              Annual Food Labeling: Evolving Regulatory Compliance Conference


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



The March NASDAQ 100 closed lower on Monday as investors turned cautious in a busy week of earnings, economic data, a Federal Reserve meeting and a new round of U.S/China trade talks.The low-range close sets the stage for a steady to lower opening when Tuesday'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 extends the rally off December's low, the 62% retracement level of the October-December-decline crossing at 7023.35 is the next upside target. Closes below the 20-day moving average crossing at 6566.88 are needed to confirm that a short-term top has been posted. First resistance is the reaction high crossing at 6897.00. Second resistance is the 62% retracement level of the October-December-decline crossing at 7023.35. First support is the 20-day moving average crossing at 6566.74. Second support is the reaction low crossing at 6136.50.  



The March S&P 500 closed lower on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 2583.87 would confirm that a short-term top has been posted. If March resumes the rally off December's low, the 62% retracement level of the September-December-decline crossing at 2706.38 is the next upside target. First resistance is the reaction high crossing at 2683.00. Second resistance is the 62% retracement level of the September-December-decline crossing at 2706.38. First support is the 20-day moving average crossing at 2583.87. Second support is the reaction low crossing at 2439.00.  



The Dow gapped down and closed sharply lower on disappointing earnings from Caterpillar on Monday leaving a one-day island top on the daily chart. Closes below the 20-day moving average crossing at 23,955.45 would confirm that a short-term top has been posted. If the Dow extends the rally off December's low, the 62% retracement level of the October-December-decline crossing at 24,965.15 is the next upside target. First resistance is the 62% retracement level of the October-December-decline crossing at 24,965.15. Second resistance is the 75% retracement level of the October-December-decline crossing at 25,661.68. First support is the 50-day moving average crossing at 24,199.21. Second support is the 20-day moving average crossing at 23,955.45. 



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



March T-bonds closed down 1/32's at 145-02.



March T-bonds closed higher on Monday. The mid-range close sets the stage for a steady to higher opening when Tuesday'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 reaction high crossing at 146-11 would confirm that a short-term low has been posted. If March extends the decline off January's high, the 38% retracement level of the November-January-rally crossing at 144-00 is the next downside target. First resistance is the reaction high crossing at 146-11. Second resistance is January's high crossing at 148-27. First support is the 38% retracement level of the November-January-rally crossing at 144-30. Second support is the 50% retracement level of the November-January-rally crossing at 142-16.         



March T-notes closed up 25 points at 121-155.



March T-notes closed higher on Monday. The high-range close sets the stage for a steady to higher opening when Tuesday'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 reaction high crossing at 122.090 are needed to confirm that a short-term low has been posted. If March renews the decline off January's high, the 38% retracement level of the October-January-rally crossing at 120-301 is the next downside target. First resistance is the reaction high crossing at 122.090. Second resistance is January's high crossing at 123.055. First support is the 38% retracement level of the October-December-rally crossing at 120.301. Second support is the 50% retracement level of the October-December-rally crossing at 120.071.        



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



March crude oil closed lower on Monday as it extends the trading range of the past three-weeks. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 50.84 would confirm that a short-term top has been posted. If March renews the rally off December's low, the 38% retracement level of the October-December-decline crossing at 55.55 is the next upside target. First resistance is the 38% retracement level of the October-December-decline crossing at 55.55. Second resistance is the 50% retracement level of the October-December-decline crossing at 59.53. First support is the 20-day moving average crossing at 50.84. Second support is December's low crossing at 45.13.



March heating oil closed lower on Thursday. The low-range close sets the stage for a steady to lower opening when Thursday's night trading session begins. Stochastics and the RSI have turned neutral to bearish signaling that short-term top might be in or is near. Closes below the 20-day moving average crossing at 182.52 would confirm that a short-term top has been posted. If March renews the rally off December's low, the 38% retracement level of the October-December-decline crossing at 193.75 is the next upside target. First resistance is the 38% retracement level of the October-December-decline crossing at 193.75. Second resistance is the 50% retracement level of the October-December-decline crossing at 203.52 is the next upside target. First support is the 20-day moving average crossing at 182.52. Second support is December's low crossing at 162.35. 



March unleaded gas closed lower on Monday and below the 20-day moving average crossing at 139.21 confirming that a short-term top has been posted. The low-range close sets the stage for a steady to lower opening when Tuesday'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 today's decline, December's low crossing at 124.24 is the next downside target. If March renews the rally off December's low, the 38% retracement level of the October-December-decline crossing at 160.10 is the next upside target. First resistance is the 25% retracement level of the October-December-decline crossing at 147.65. Second resistance is the 38% retracement level of the October-December-decline crossing at 160.10. First support is today's low crossing at 134.13. Second support is December's low crossing at 124.24.



March Henry natural gas gapped down and closed lower on Monday as it extends the decline off January's high. The mid-range close sets the stage for a steady to lower opening when Tuesday'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 extends the decline off January's high, January's low crossing at 2.771 is the next downside target. If March renews the rally off January's low, the 50-day moving average crossing at 3.516 is the next upside target. First resistance is January's high crossing at 3.406. Second resistance is the 50-day moving average crossing at 3.509. First support is today's low crossing at 2.840. Second support is January's low crossing at 2.771.     



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



The March Dollar closed lower on Monday as it extends last-Friday's decline. The mid-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends today's decline, January's low crossing at 94.63 is the next downside target. Closes above the 10-day moving average crossing at 95.79 would temper the near-term bearish outlook. First resistance is the reaction high crossing at 96.56. 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 Monday as it consolidates some of the decline off January's high. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bullish hinting that a short-term low has been posted. Closes above the 20-day moving average crossing at 114.80 would confirm that a short-term low has been posted. If March renews the decline off January's high, the 87% retracement level of the 2016-2018 rally crossing at 111.94 is the next downside target.First resistance is January's high crossing at 116.33. Second resistance is October's high crossing at 117.70. First support is last-Thursday's low crossing at 113.38. Second support is the 87% retracement level of the 2016-2018 rally crossing at 111.94.      



The March British Pound closed lower on Monday as it consolidates some of the rally off January's low. The low-range close sets the stage for a steady to lower opening when Tuesday'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 January's low, October's high crossing at 1.3356 is the next upside target. Closes below the 20-day moving average crossing at 1.2902 would confirm that a short-term top has been posted. First resistance is November's high crossing at 1.3257. Second resistance is October's high crossing at 1.3356. First support is the 10-day moving average crossing at 1.3028. Second support is the 20-day moving average crossing at 1.2902.   



The March Swiss Franc closed higher on Monday as it consolidates some of the decline off January's high.The mid-range close sets the stage for a steady opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that a low might be in or is near. If March renews this month's decline, November's low crossing at 1.0018 is the next downside target. Closes above the 20-day moving average crossing at 1.0184 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 1.0184. Second resistance is the 50% retracement level of the September-November-decline crossing at 1.0330. First support is last-Thursday's low crossing at 1.0061. Second support is November's low crossing at 1.0018.



The March Canadian Dollar closed lower on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 75.06 would confirm that a short-term top has been posted. If March renews this month's rally, the 62% retracement level of the October-December-decline crossing at 76.49 is the next upside target. First resistance is January's high crossing at 75.99. Second resistance isthe 62% retracement level of the October-December-decline crossing at 76.49. First support is the 20-day moving average crossing at 75.06. Second support is December's low crossing at 73.30.  



The March Japanese Yen closed higher on Monday. The mid-range close sets the stage for a steady to higher opening when Tuesday’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 extends the decline off January's high, the 50-day moving average crossing at 0.0905 is the next downside target. Closes above the 20-day moving average crossing at 0.0922 would confirm that a short-term low has been posted. First resistance is the reaction high crossing at 0.0933. Second resistance is January's high crossing at 0.0946. First support is last-Wednesday's low crossing at 0.0913. Second support is the 50-day moving average crossing at 0.0905.  



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



April gold closed higher on Monday. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. If April resumes the rally off November's low, the 62% retracement level of the April-August-Decline crossing at 1320.10 is the next upside target. Closes below last-Thursday's low crossing at 1281.50 would confirm that a short-term top has been posted. First resistance is the 62% retracement level of the April-August-Decline crossing at 1320.10. Second resistance is the 75% retracement level of the April-August-Decline crossing at 1349.50. First support is last-Thursday's low crossing at 1281.50. Second support is the 50-day moving average crossing at 1267.20.



March silver closed higher on Monday. The high-range close set the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. If March renews the rally off November's low, the 50% retracement level of the 2017-2018-decline crossing at 16.279 is the next upside target. If March renews the decline off January's high, the 50-day moving average crossing at 15.000 is the next downside target. First resistance is January'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 last-Tuesday's low crossing at 15.195. Second support is the 50-day moving average crossing at 15.000.        



March copper closed lower on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally, the reaction high crossing at 280.35 is the next upside target. Closes below the reaction low crossing at 261.65 would confirm that a short-term top has been posted while opening the door for additional weakness near-term. First resistance is the reaction high crossing at 280.35. Second resistance is January's high crossing at 285.80. 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 closed down 1/2-cent at 3.79 3/4. 



March corn closed fractionally lower on Monday due to a lack of fresh news to move the market significantly in either direction. The mid-range close sets the stage for a steady to higher opening when Tuesday's night sessions begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above January's high crossing at 3.84 1/2 are needed to confirm that a short-term low has been posted. Closes below January's low crossing at 3.71 would open the door for additional weakness and a possible test of November's low crossing at 3.67 1/4. 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 January's low crossing at 3.71. Second support is November's low crossing at 3.67 1/4.  



March wheat closed down 2-cents at 5.18. 



March wheat closed lower on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the reaction low crossing at 5.08 would confirm that a short-term top has been posted. If March extends the rally off January's low, December's high crossing at 5.38 1/2 is the next upside target. First resistance is December's high crossing at 5.38 1/2. Second resistance is October's high crossing at 5.46 1/2. First support is the reaction low crossing at 5.08. Second support is January's low crossing at 5.01 1/4.     



March Kansas City Wheat closed down 2 3/4-cents at 5.06 3/4. 



March Kansas City wheat closed lower on Monday. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the reaction low crossing at 4.92 1/4 are needed to confirm that a short-term top has been posted. If March extends the rally off December's low, December's high crossing at 5.24 1/2 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 December's low crossing at 4.87 1/4. Second support is November's low crossing at 4.82 1/4.  



March Minneapolis wheat closed down 3/4-cents at 5.74. 



March Minneapolis wheat closed lower on Monday. The mid-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish hinting that a short-term top might be in or is near. Closes below the reaction low crossing at 5.61 would confirm that a short-term top has been posted. If March extends the rally off December's low, December's high crossing at 5.89 1/2 is the next upside target. First resistance is December's high crossing at 5.89 1/2. Second resistance is November's high crossing at 5.93. First support is the reaction low crossing at 5.61. Second support is December's low crossing at 5.44 1/2.    



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



March soybeans closed down 2-cents at 9.23 1/4.



March soybeans closed lower on Monday. The high-range close sets the stage for a steady to higher opening when Tuesday'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, December's high crossing at 9.41 is the next upside target. Close below January's low crossing at 8.91 1/4 would temper the bullish outlook. First resistance is January's high crossing at 9.27 3/4. Second resistance is December's high crossing at 9.41. First support is January's low crossing at 8.91 1/4. Second support is December's low crossing at 8.80 1/4.  



March soybean meal closed down $1.50 at 312.40. 



March soybean meal closed lower on Monday. The mid-range close sets the stage for a steady opening when Tuesday'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 renews this month's decline, December's low crossing at 307.10 is the next downside target. Closes above the reaction high crossing at 316.50 would temper the bearish outlook. First resistance is January'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 23 pts. at 30.26. 



March soybean oil closed higher on Monday as it extends the rally off December's low. The high-range close sets the stage for a steady to higher opening when Tuesday'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 30.50 is the next upside target. Closes below the 20-day moving average crossing at 28.69 would confirm that a short-term top has been posted. First resistance is today's high crossing at 30.32. Second resistance is October's high crossing at 30.50. First support is the 10-day moving average crossing at 29.09. Second support is the 20-day moving average crossing at 28.69.    

 

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



April hogs closed up $0.20 at $62.33. 



April hogs closed higher on Monday 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 Tuesday'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 April extends the decline off November's high, the 87% retracement level of the July-November-rally crossing at 59.81 is the next downside target. Closes above the reaction high crossing at 67.40 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 65.96. Second resistance is the reaction high crossing at 67.40. First support is the 75% retracement level of the July-November-rally crossing at 61.69. Second support is the 87% retracement level of the July-November-rally crossing at 59.81.   



April cattle closed up $0.53 at 127.38. 



April cattle closed higher on Monday. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If April resumes the rally off November's low, weekly resistance crossing at 134.55 is the next upside target. Closes below the 50-day moving average crossing at 124.54 would confirm that a short-term top has been posted. First resistance is the reaction high crossing at 127.80. Second resistance is weekly resistance crossing at 134.55. First support is last-Wednesday's crossing at 125.48. Second support is the 50-day moving average crossing at 124.54.   

 

March Feeder cattle closed up $0.73 at $144.35. 



March Feeder cattle closed higher on Monday. The high-range close sets the stage for a steady to higher opening when Monday's 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 144.41 would temper the near-term bearish outlook. If March resumes this month's decline, December's low crossing at 140.35 is the next downside target. First resistance is the reaction high crossing at 146.47. Second resistance is December's high crossing at 147.58. First support is last-Tuesday's low crossing at 141.20. Second support is December's low crossing at 140.35.  



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



March coffee closed sharply lower on Monday. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the reaction low crossing at 10.04 would temper the near-term bearish outlook. Closes above the 50-day moving average crossing at 10.56 would confirm that a short-term low has been posted. 



March cocoa closed higher on Monday. The mid-range close sets the stage for a steady to higher opening on Tuesday. 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, December's low crossing at 20.95 is the next downside target. Closes above the reaction high crossing at 23.68 would confirm that a short-term low has been posted.     



March sugar posted an inside day with a higher close on Monday. The high-range close set the stage for a steady to higher opening on Tuesday. Stochastics and the RSI have turned neutral to bearish signaling that a short-term top might be in or is near. If March extends last-Friday's decline, January's low crossing at 11.69 is the next downside target. If March renews this month's rally, the reaction high crossing at 13.54 is the next upside target. 



March cotton closed lower on Monday while extending that trading range of the past four-weeks. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If March renews the rally off January's low, the 50-day moving average crossing at 75.88 is the next upside target. 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. 

Comments
No replies yet. Be the first!