KEY EVENTS TO WATCH FOR:

Monday, February 4, 2019 

9:45 AM ET. January ISM-NY Report on Business

                       Business Index (previous 65.4)

10:00 AM ET. November Manufacturers' Shipments, Inventories & Orders (M3) * Release

                        delayed from 7 Jan due to the partial shutdown of the U.S. federal government which                

                        ended 25 January.

                       Total Orders, M/M% (expected +0.1%; previous -2.1%)

                       Orders, Ex-Defense, M/M% (previous -0.4%)

                       Orders, Ex-Transport, M/M% (previous +0.3%)

                       Durable Goods, M/M% (previous -4.4%)

                       Durable Goods, M/M% (previous -4.3%)

10:00 AM ET. December Manufacturers' Shipments, Inventories & Orders (M3)

                       Total Orders, M/M%

                       Orders, Ex-Defense, M/M%

                       Orders, Ex-Transport, M/M%

                       Durable Goods, M/M%

                       Durable Goods, M/M%

10:00 AM ET. January Employment Trends Index

                       ETI (previous 111.61)

                       ETI, Y/Y% (previous +5.4%)

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

The March NASDAQ 100 closed lower on Friday as it consolidated some of the rally off December's low.The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are 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 6679.55 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 6679.55. Second support is the reaction low crossing at 6521.50.  

The March S&P 500 closed slightly lower on Friday as it consolidated some of the rally off December's low. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are 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 2624.43 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 2624.43. Second support is the reaction low crossing at 2439.00.  

The Dow closed higher on Friday as it extends 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 the Dow extends the rally off December's low, the 75% retracement level of the October-December-decline crossing at 25,663.83 is the next upside target. Closes below the 20-day moving average crossing at 24,317.26 would confirm that a short-term top has been posted. First resistance is today's high crossing at 25,193.15. Second resistance is the 75% retracement level of the October-December-decline crossing at 25,661.68. First support is the 20-day moving average crossing at 24,317.26. Second support is the reaction low crossing at 22,638.41.

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March T-bonds closed down 22/32's at 146-00.

March T-bonds closed lower on Friday as it consolidates some of this week's gains. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends this week's rally, January's high crossing at 148-27 is the next upside target. If March resumes 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 Thursday's high crossing at 146-30. 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 down 170 points at 122-300.

March T-notes closed sharply lower on Friday as it consolidates some of this week's rally. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends this week's rally, January's high crossing at 123.055 is the next upside target. 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 Thursday's high crossing at 122.165. 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-decline crossing at 120.071.        

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

March crude oil closed higher on Friday as it renewed the rally off December's low. The high-range close sets the stage for a steady to higher opening when Monday's night session begins. Stochastics and the RSI are diverging but turning 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 59.53 is the next upside target. Closes below the reaction low crossing at 50.66 would confirm that a short-term top has been posted. 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 reaction low crossing at 50.66. Second support is December's low crossing at 45.13.

March heating oil closed higher on Friday while extending the trading range of the past three-weeks. The high-range close sets the stage for a steady to higher opening when Monday's night trading session begins. Stochastics and the RSI are diverging but are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If March renews 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 would 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 closed higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. 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. If March resumes the decline off January's high, December's low crossing at 124.24 is the next downside 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 Monday's low crossing at 134.13. Second support is December's low crossing at 124.24. 

March Henry natural gas closed lower on Friday and below January's low thereby renewing the decline off November's high. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off January's high, the February-2016 low crossing at 2.715 is the next downside target. Closes above last-Friday's high crossing at 3.090 would confirm that a short-term low has been posted. First resistance is last-Friday's high crossing at 3.090. Second resistance is January's high crossing at 3.406. First support is today's low crossing at 2.730. Second support is the February-2016 low crossing at 2.715.     

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

The March Dollar closed slightly lower on Friday. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are 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 94.63 is the next downside target. Closes above the 10-day moving average crossing at 95.61 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 Friday. The mid-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are 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 116.33 is the next upside target. 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 Friday. The mid-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 1.2982 would confirm that a short-term top has been posted. If March resumes the rally 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 10-day moving average crossing at 1.3102. Second support is the 20-day moving average crossing at 1.2982.   

The March Swiss Franc closed slightly lower on Friday.The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends this month's decline, November's low crossing at 1.0018 is the next downside target. Closes above the 50-day moving average crossing at 1.0162 would confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 1.0162. Second resistance is the 50% retracement level of the September-November-decline crossing at 1.0330. First support is Wednesday's low crossing at 1.0048. Second support is November's low crossing at 1.0018.

The March Canadian Dollar closed higher on Friday as it extends the rally off December's low. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March renews this month's rally, the 75% retracement level of the October-December-decline crossing at 77.18 is the next upside target. Closes below last-Thursday's low crossing at 74.85 would confirm that a short-term top has been posted. First resistance is the 62% retracement level of the October-December-decline crossing at 76.49. Second resistance is the 75% retracement level of the October-December-decline crossing at 77.18. First support is last-Thursday's low crossing at 74.85. Second support is December's low crossing at 73.30.  

The March Japanese Yen closed sharply lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday’s night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 0.0921 are needed to confirm that a short-term low has been posted. If March resumes the decline off January's high, the 50-day moving average crossing at 0.0907 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 last-Wednesday's low crossing at 0.0913. Second support is the 50-day moving average crossing at 0.0907.  

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

April gold closed lower on Friday as it consolidates some of the rally off September's low. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are 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 April-August-Decline crossing at 1349.50 is the next upside target. Closes below the 20-day moving average crossing at 1301.10 would confirm that a short-term top has been posted. First resistance is Thursday's high crossing at 1331.10. 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 1274.60.

March silver closed lower on Friday as it consolidates some of the rally off November's low. The low-range close set the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off November's low, the 50% retracement level of the 2017-2018-decline crossing at 16.279 is the next upside target. Closes below the 20-day moving average crossing at 15.675 would 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 is last-Tuesday's low crossing at 15.195. Second support is the 50-day moving average crossing at 15.125.        

March copper closed lower on Friday as it consolidates some of the rally off January's low. The mid-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally, December's high crossing at 285.80 is the next upside target. Closes below the reaction low crossing at 263.45 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 the reaction 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 closed up 1 3/4-cents at 3.78 1/4. 

March corn closed higher on Friday while extending the August-January trading range. The low-range close sets the stage for a steady to lower opening when Monday's night sessions begins trading. Stochastics and the RSI are turning neutral signaling that sideways trading is possible near-term. 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. Closes above January's high crossing at 3.84 1/2 are needed to confirm that a short-term low has been posted. 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 up 8-cents at 5.24 1/2. 

March wheat closed higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are 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 5.38 1/2 is the next upside target. Closes below the reaction low crossing at 5.08 would confirm that a short-term top has been posted. 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 up 9 3/4-cents at 5.08 3/4.

March Kansas City wheat closed higher on Friday. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are turning 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 5.24 1/2 is the next upside target. Closes below the reaction low crossing at 4.92 1/4 are needed to confirm that a short-term top 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 closed up 5 1/2-cents at 5.75 1/2. 

March Minneapolis wheat closed higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes below the reaction low crossing at 5.61 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 5.89 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 up 2 1/4-cents at 9.17 1/2.

March soybeans closed higher on Friday. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that a short-term top might be in or is near. Close below the 50-day moving average crossing at 9.10 1/4 would confirm that a short-term top has been posted. If March extends the rally off September's low, December's high crossing at 9.41 is the next upside target. First resistance is December's high crossing at 9.41. Second resistance is the 50% retracement level of the April-September-2018 decline crossing at 9.46 1/2. 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 up $2.00 at 312.00. 

March soybean meal closed higher on Friday as it extends the September-January trading range. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are oversold but 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 bearish outlook. If March renews the decline off January's high, December's low crossing at 307.10 is the next downside target. 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 down 31 pts. at 29.86. 

March soybean oil posted a key reversal down on Friday signaling a double top with October's high has likely been posted. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are overbought and are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 29.10 would confirm that a short-term top has been posted. If March extends the rally off December's low, the reaction high crossing at 30.71 is the next upside target. First resistance is today's 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 29.77. Second support is the 20-day moving average crossing at 29.10.    

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

April hogs closed down $0.10 at $60.13. 

April hogs closed sharply lower on Friday 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, August's low crossing at 58.22 is the next downside target. Closes above the 20-day moving average crossing at 64.78 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 63.03. Second resistance is the 20-day moving average crossing at 64.78. First support is the 87% retracement level of the July-November-rally crossing at 59.81. Second support is August's low crossing at 58.2.  

April cattle closed down $0.03 at 126.27. 

April cattle closed lower on Friday following Thursday's huge key reversal down. The mid-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at 125.01 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 Thursday'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 125.01.   

March Feeder cattle closed down $0.03 at $142.52. 

March Feeder cattle closed lower on Friday following yesterday's key reversal down. The mid-range close sets the stage for a steady to lower opening when Monday's session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends this week's decline, December's low crossing at 140.35 is the next downside target. Closes above Thursday'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 lower on Friday while extending the trading range for the past two-months. The low-range close sets the stage for a steady to lower opening on Monday. 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 are needed to 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 higher on Friday as it consolidates some of the decline off December's high. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower 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 22.87 would confirm that a short-term low has been posted.     

March sugar closed lower on Friday as it forms a small symmetrical triangle. The low-range close set the stage for a steady to lower opening on Monday. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If March renews the decline off January's high, January's low crossing at 11.69 is the next downside target. If March renews the rally off January's low, the reaction high crossing at 13.54 is the next upside target. 

March cotton closed lower on Friday. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are overbought and are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 73.33 would confirm that a short-term top has been posted. If March extends the rally off January's low, the 50-day moving average crossing at 75.55 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.