KEY EVENTS TO WATCH FOR:

Friday, February 1, 2019  

8:30 AM ET. January U.S. Employment Report

                       Non-Farm Payrolls (expected +170K; previous +312K)

                       Unemployment Rate (expected 3.9%; previous 3.9%)

                       Avg Hourly Earnings (USD) (previous 27.48)

                       Avg Hourly Earnings-Net Chg (USD)  (previous +0.11)

                       Avg Hourly Earnings, M/M% (expected +0.3%; previous +0.4%)

                       Avg Hourly Earnings, Y/Y% (previous +3.2%)

                       Overall Workweek (previous 34.5)

                       Overall Workweek Net Chg (previous +0.1)

                       Government Payrolls (previous +11K)

                       Private Payroll (previous +301K)

                       Participation Rate (previous 63.1%)

                       Non-Farm Payrolls Bench Net Chg

9:45 AM ET. January US Manufacturing PMI

                       PMI, Mfg (expected 54.8; previous 53.8)

10:00 AM ET. January University of Michigan Survey of Consumers – final

                       End-Mo Sentiment Idx (expected 91.0; previous 98.3)

                       End-Mo Expectations Idx (previous 87.0)

                       12-Month Inflation Forecast (previous 2.7%)

                       5-Year Inflation Forecast (previous 2.5%)

                       End-Mo Current Idx (previous 116.1)

10:00 AM ET. December Construction Spending - Construction Put in Place * The

                        release date for this data may be changed following the end

                        of the partial U.S. Govt shutdown on 25 January

                       New Construction (expected +0.5%)

                       Residential Construction

10:00 AM ET. January ISM Manufacturing Report on Business

                       Manufacturing PMI (expected 54.0; previous 54.1)

                       Prices Idx (previous 54.9)

                       Employment Idx (previous 56.2)

                       Inventories (previous 51.2)

                       New Orders Idx (previous 51.1)

                      Production Idx (previous 54.3)

11:00 AM ET. January Global Manufacturing PMI

                       PMI, Mfg (previous 51.5)

4:00 AM ET. January Domestic Auto Industry Sales

                       Auto Sales Annualized (expected 17.2M; previous 17.55M)

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

The STOCK INDEXES:The March NASDAQ 100 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 October-December-decline crossing at 7023.35 is the next upside target. Closes below the 20-day moving average crossing at 6680.31 are needed to confirm that a short-term top has been posted. First resistance is the 62% retracement level of the October-December-decline crossing at 7023.35. Second resistance is the 75% retracement level of the October-December-decline crossing at 7280.27. First support is the 20-day moving average crossing at 6680.31. Second support is the reaction low crossing at 6136.50.  

The March S&P 500 was slightly 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 75% retracement level of the September-December-decline crossing at 2789.62 is the next upside target. Closes below the 20-day moving average crossing at 2624.48 would confirm that a short-term top has been posted.First resistance is the 62% retracement level of the September-December-decline crossing at 2706.38. Second resistance is the 75% retracement level of the September-December-decline crossing at 2789.62. First support is the 20-day moving average crossing at 2624.48. 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 as it extends the rally off January'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 January's low, January's high crossing at 148-27 is the next upside target. Closes below the 20-day moving average crossing at 145.20 would confirm that a short-term top has been posted. First resistance is Thursday's high crossing at 147.01. Second resistance is January's high crossing at 148-27. First support is the 38% retracement level of the November-January rally crossing at 144-00. Second support is the 50% retracement level of the November-January rally crossing at 142.16.

March T-notes was higher overnight as it extends the rally off January'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 January's low, January's high crossing at 123.080 is the next upside target. Closes below the 20-day moving average crossing at 121.249 would confirm that a short-term top has been posted. First resistance is Thursday's high crossing at 122.190. Second resistance is January's high crossing at 123.080. First support is the 38% retracement level of the October-January rally crossing at 120.301. Second support is the 50% retracement level of the October-January-rally crossing at 120.071.

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

March crude oil was slightly lower overnight while extending the trading range of the past three-weeks. 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 diverging but are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the reaction low crossing at 50.66 are needed to confirm that a short-term top has been posted. If March resumes 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 the 38% retracement level of the October-December-decline crossing at 55.55. Second resistance is the reaction high crossing at 58.55. First support is the 20-day moving average crossing at 52.34. Second support is December's low crossing at 42.67.  

March heating oil was lower overnight while extending the trading range of the past three-weeks. The low-range overnight trade sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term. If March resumes the rally off December's low, the 50% retracement level of the October-December-decline crossing at 203.52 is the next upside target. Closes below the reaction low crossing at 182.80 are needed to confirm that a short-term top has been posted. 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. First support is the reaction low crossing at 182.80. Second support is December's low crossing at 162.35. 

March unleaded gas was steady to slightly higher overnight. 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 147.96 are needed to renew the rally off December's low. If March resumes the decline off January's high, December's low crossing at 124.24 is the next downside target. First resistance is January's high crossing at 147.96. Second resistance is December's high crossing at 153.48. First support is Monday's low crossing at 134.13. Second support is December's low crossing at 124.24. 

March Henry natural gas was lower overnight as it extends the decline off January's high. 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 oversold but remain 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. Closes above last-Friday's high crossing at 3.090 are needed to confirm that a short-term low has been posted. First resistance is January's high crossing at 3.406. Second resistance is the 38% retracement level of the November-January-decline crossing at 3.472. First support is the overnight low crossing at 2.780. Second support is January's low crossing at 2.771.    

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

CURRENCIES:The March Dollar was slightly lower overnight. 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 62% retracement level of the September-December-decline crossing at 94.54 is the next downside target. Closes above the 10-day moving average crossing at 95.60 would confirm that a short-term low has been posted. First resistance is the reaction high crossing at 96.38. Second resistance is December's high crossing at 97.19. First support is the 50% retracement level of the September-December-rally crossing at 95.04. Second support is the 62% retracement level of the September-December-rally crossing at 94.54.    

The March Euro was higher overnight. The high range trade overnight 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 a low might be in or is near. If March extends the rally off January's low, January's high crossing at 116.33 is the next upside target. Closes below the 10-day moving average crossing at 114.56 are needed to confirm that a short-term low has been posted. First resistance is January's high crossing at 116.33. Second resistance is the reaction high crossing at 117.00. First support is January's low crossing at 113.37. Second support is the 87% retracement level of the 2016-2018-rally crossing at 111.94.    

The March British Pound was lower overnight as it consolidates some of the rally off January's low. The low-range overnight trade sets the stage for a steady to lower opening when the day session beings trading. Stochastics and the RSI are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 1.2926 would confirm that a short-term top has been posted. If March extends the decline off January's low, October's high crossing at 1.3356 is the next upside target. First resistance is November's high crossing at 1.3257. Second resistance is October's high crossing at 1.3356. First support is the 20-day moving average crossing at 1.2926. Second support is the reaction low crossing at 1.2707.  

The March Swiss Franc was higher overnight as it extends the trading range of the past two-weeks. 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 1.0162 would confirm that a short-term low has been posted. If March resumes the decline off January's high, November's low crossing at 1.0018 is the next downside target. First resistance is the 50-day moving average crossing at 1.0162. Second resistance is January's high crossing at 1.0354. First support is Wednesday's low crossing at 1.0048. Second support is November's low crossing at 1.0018. 

The March Canadian Dollar 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 October-December-decline crossing at 76.49 is the next upside target. Closes below the 20-day moving average crossing at 75.52 would confirm that a short-term top has been posted. First resistance is Wednesday's high crossing at 76.32. Second resistance is the 62% retracement level of the October-December-decline crossing at 76.49. First support is last-Thursday's low crossing at 74.86. Second support is December's low crossing at 73.30.

The March Japanese Yen was steady overnight. 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 0.0922 are needed to confirm that a short-term low has been posted. If March renews the decline off January's high, the 50-day moving average crossing at 0.0908 is the next downside target. First resistance is the reaction high crossing at 0.0933. Second resistance is January's high crossing at 0.0946. First support is January's low crossing at 0.0913. Second support is the 50-day moving average crossing at 0.0908. 

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

PRECIOUS METALS: April gold was slightly higher overnight as it extends the rally off August's low. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If April extends the rally off November's low, the 75% retracement level of the January-August-decline crossing at 1349.50 is the next upside target. Closes below the 20-day moving average crossing at 1301.30 would confirm a top has been posted. First resistance is Thursday's high crossing at 1331.10. Second resistance is the 75% retracement level of the January-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 1274.60.  

March silver was lower overnight. 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 2017-2018-decline crossing at 16.279 is the next upside target. Closes below the 20-day moving average crossing at 15.681 are needed to confirm that a short-term top has been posted. First resistance is Thursday's high crossing at 16.200. Second resistance is the 50% retracement level of the 2017-2018-decline crossing at 16.279. First support last-Tuesday's low crossing at 15.195. Second support is the 50-day moving average crossing at 15.127.  

March copper was lower overnight as it consolidates some of the rally off January's low. The low-range trade sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are overnight 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 280.35 is the next upside target. Closes below the 20-day moving average crossing at 268.27 would confirm that a short-term top has been posted. First resistance is the reaction high crossing at 280.35. Second resistance is December's high crossing at 285.80. First support is last-Thursday's low crossing at 263.45. Second support is January's low crossing at 254.30. 

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

March corn was higher overnight as it continues to extend the September-January trading range. The mid-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 reaction high crossing at 3.83 are needed to temper the near-term bearish outlook. If March resumes the decline off January's high, November's low crossing at 3.67 1/4 is the next downside target. 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 was 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 turning neutral to bullish signaling that sideways to higher 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 the reaction low crossing at 5.08. Second support is Jan.'s low crossing at 5.01 1/4. 

March Kansas City Wheat closed down 3 1/4-cents at 4.99.

March Kansas City wheat closed lower on Thursday. The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are neutral to 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 renews 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 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off January's low, December's high crossing at 5.89 1/2 is the next upside target. Closes below the 20-day moving average crossing at 5.70 1/4 are needed to confirm that a short-term top has been posted. First resistance is last-Thursday's high crossing at 5.80. Second resistance is December's high crossing at 5.89 1/2. 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 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 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, December's high crossing at 9.41 is the next upside target. Closes below the reaction low crossing at 8.91 1/4 would confirm that a short-term top has been posted. 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 1/2.

March soybean meal was higher overnight as it extends the September-January trading range. The high-range close sets the stage for a steady to higher opening when the day 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 316.50 would temper the near-term bearish outlook. If March resumes the decline off January's high, December's low crossing at 307.10 is the next downside target. First resistance is the reaction high crossing at 316.50. Second resistance is January's high crossing at 323.60. First support is January's low crossing at 309.10. Second support is December's low crossing at 307.10.  

March soybean oil was lower overnight and is working on a potential key reversal down thereby signaling that a double top with October's high has been posted. 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 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 reaction high crossing at 30.71 is the next upside target. Closes below the 20-day moving average crossing at 29.12 would confirm that a short-term top has been posted. First resistance is the overnight high crossing at 30.62. Second resistance is the reaction high crossing at 30.71. First support is the 10-day moving average crossing at 29.80. Second support is the 20-day moving average crossing at 29.12.

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

April hogs closed down $2.00 at $60.23. 

April hogs closed sharply lower on Thursday as it extended the decline off November's high. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If 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 20-day moving average crossing at 65.15 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 63.48. Second resistance is the 20-day moving average crossing at 65.15. First support is the 87% retracement level of the July-November-rally crossing at 59.81. Second support is August's low crossing at 58.22.   

April cattle closed down $1.75 at 126.30. 

April cattle posted a huge key reversal down on Thursday signaling that a potential top to the 2018-2019 rally has come to an end. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the 50-day moving average crossing at 124.93 would confirm that a short-term top has been posted. If April extends the rally off November's low, weekly resistance crossing at 134.55 is the next upside target. First resistance is today's high crossing at 129.48. Second resistance is weekly resistance crossing at 134.55. First support is last-Wednesday's low crossing at 125.48. Second support is the 50-day moving average crossing at 124.93.   

March Feeder cattle closed down $1.75 at $142.55. 

March Feeder cattle posted a key reversal down on Thursday. The low-range close sets the stage for a steady to lower opening when Friday's session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If March resumes this month's decline, December's low crossing at 140.35 is the next downside target. Closes above today's high crossing at 145.58 would temper the bearish outlook. 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 higher on Thursday while extending the trading range for the past two-months. The high-range close sets the stage for a steady to higher opening on Friday. 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 10.72 would confirm an upside breakout of the aforementioned trading range. Closes below December's low crossing at 9.86 would confirm a downside breakout of the aforementioned trading range. 

March cocoa closed lower on Thursday as it extends the decline off December's high. The low-range close sets the stage for a steady to lower opening on Friday. 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 20-day moving average crossing at 22.98 would confirm that a short-term low has been posted.     

March sugar closed higher on Thursday. The high-range close set the stage for a steady to higher opening on Friday. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If March renews this month's rally, the reaction high crossing at 13.54 is the next upside target. If March renews last-Friday's decline, January's low crossing at 11.69 is the next downside target. 

March cotton closed slightly higher on Thursday while extending the rally off January's low. The mid-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off January's low, the 50-day moving average crossing at 75.64 is the next upside target. Closes below the 20-day moving average crossing at 73.19 would confirm that a short-term top 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.