INO Evening Market Comments
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Started by tallpine - Feb. 15, 2019, 4:44 p.m.

KEY EVENTS TO WATCH FOR:



Monday, February 18, 2019 



  N/A              U.S. Presidents Day / Washington's Birthday. Financial markets closed



Tuesday, February 19, 2019 



10:00 AM ET. 4th Quarterly CANCELLED: Advance Quarterly Services * Release cancelled due

                    to the U.S. federal govt partial shutdown, which ended 25 January



10:00 AM ET. February NAHB Housing Market Index



                       Housing Mkt Idx (previous 58)


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



The March NASDAQ 100 closed higher on Friday as it extends the rally off December's low. the Nasdaq posted its eighth week of gains off December's low, as investors focused on continued progress in trade negotiations between China and the U.S. Expectation for talks to continue next week in Washington has added fresh hope that a resolution was near, even if the parties appeared far apart on key points. 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, December's high crossing at 7169.00 is the next upside target. Closes below the 20-day moving average crossing at 6871.66 are needed to confirm that a short-term top has been posted. First resistance is December's high crossing at 7169.00. 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 6871.66. Second support is the 50-day moving average crossing at 6652.11.  



The March S&P 500 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 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, 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 2696.94 would confirm that a short-term top has been posted. First resistance is the 75% retracement level of the September-December-decline crossing at 2789.62. Second resistance is the 87% retracement level of the September-December-decline crossing at 2865.28. First support is the 20-day moving average crossing at 2696.94. Second support is the 50-day moving average crossing at 2615.43.  



The Dow closed sharply higher on Friday as it extended the rally off December's low for the eighth week in a row. Optimism over U.S.-China trade talks and the signing of a deal to avoid a government shutdown underpinned today's rally in the Dow. 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, December's high crossing at 25,980.21 is the next upside target. Closes below the 20-day moving average crossing at 25,038.11 would confirm that a short-term top has been posted. First resistance is December's high crossing at 25,980.21. Second resistance is the 87% retracement level of the October-December-decline crossing at 26,271.97. First support is the 20-day moving average crossing at 25,038.11. Second support is the 50-day moving average crossing at 24,249.10.



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



March T-bonds closed up 3/32's at 146-19.



March T-bonds closed higher on Friday. 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. Closes above the reaction high crossing at 147-01 would renew the rally off January's low while opening the door for a possible test of January's high crossing at 148-27. Closes below the 50-day moving average crossing at 145-07 are needed to confirm that a short-term top has been posted. First resistance is the reaction 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 144-30. Second support is the 50% retracement level of the November-January-rally crossing at 142-16.         



March T-notes closed down 40 points at 122.015.



March T-notes closed lower on Friday. 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 bullish signaling that sideways to higher prices are possible near-term. Closes above the reaction high crossing at 122.190 would renew the rally off January's low while opening the door for a possible test of January's high crossing at 123.055. Closes below the 50-day moving average crossing at 121.167 would confirm that a short-term top has been posted. First resistance is the reaction high crossing at 122.190. 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 spiking above the upper boundary of the January-February trading range crossing at 55.75.The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins. 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 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 are needed to confirm a downside breakout of the aforementioned trading range. 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 as it extended Thursday's breakout above the January-February trading. The high-range close sets the stage for a steady to higher opening when Tuesday's night trading session begins. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends 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 20-day moving average crossing at 190.78 would confirm that a short-term top has been posted. First resistance is today's high crossing at 202.25. 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 as it extended Thursday's upside breakout the trading range of the past five-weeks. 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 today's rally, the 38% retracement level of the October-December-decline crossing at 160.10 is the next upside target. Closes below the 50-day moving average crossing at 140.88 would confirm that a short-term top has been posted. First resistance is the 38% retracement level of the October-December-decline crossing at 160.10. Second resistance is the 50% retracement level of the October-December-decline crossing at 171.22. First support is the reaction low crossing at 134.13. Second support is December's low crossing at 124.24. 



March Henry natural gas closed higher on Friday as it consolidated some of the decline off January's high. 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 oversold and remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off January's high, weekly support crossing at 2.432 is the next downside target. Closes above the 20-day moving average crossing at 2.787 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 3.787. Second resistance is the reaction high crossing at 3.090. First support is today's low crossing at 2.549. Second support is weekly support crossing at 2.432.     



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



The March Dollar posted a key reversal down on Friday after spiking above December's high crossing at 97.20. 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, weekly resistance crossing at 97.83 is the next upside target. Closes below the 20-day moving average crossing at 96.02 are needed to confirm that a short-term top has been posted.First resistance is today's high crossing at 97.23. Second resistance is weekly resistance crossing at 97.83. First support is the 10-day moving average crossing at 96.43. Second support is the 20-day moving average crossing at 96.02.    



The March Euro closed slightly higher on Friday 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the aforementioned decline, the 87% retracement level of the 2016-2018 rally crossing at 111.94 is the next downside target. Closes above the 50-day moving average crossing at 114.53 would confirm that a short-term low has been posted. First resistance is the reaction high crossing at 115.57. Second resistance is January's high crossing at 116.33. First support is today's low crossing at 112.61. Second support is the 87% retracement level of the 2016-2018 rally crossing at 111.94.      



The March British Pound closed higher on Friday 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 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 reaction low crossing at 1.2707 is the next downside target. Closes above the 20-day moving average crossing at 1.3018 would confirm that a short-term low has been posted. First resistance is January's high crossing at 1.3252. Second resistance is October's high crossing at 1.3356. First support is Thursday's low crossing at 1.2791. Second support is the reaction low crossing at 1.2707.   



The March Swiss Franc closed slightly higher on Friday 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends this winter's decline, weekly support crossing at 0.9902 is the next downside target. Closes above the 20-day moving average crossing at 1.0049 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 1.0049. Second resistance is the 50-day moving average crossing at 1.0133. First support is Thursday's low crossing at 0.9930. Second support is weekly support crossing at 0.9902.



The March Canadian Dollar 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 neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends this month's decline, the reaction low crossing at 74.85 is the next downside target. Closes above Wednesday's high crossing at 75.84 are needed to confirm that a short-term low 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 the 50-day moving average crossing at 75.08. Second support is the reaction low crossing at 74.85.  



The March Japanese Yen closed higher on Friday as it consolidates some of the decline off January's high. 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 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 75% retracement level of the November-January-rally crossing at 0.0900 is the next downside target. Closes above the 20-day moving average crossing at 0.0914 are needed to confirm that a short-term low has been posted. First resistance is the reaction high crossing at 0.0925. Second resistance is the reaction high crossing at 0.0933. First support is the 75% retracement level of the November-January-rally crossing at 0.0900. Second support is the 87% retracement level of the November-January-rally crossing at 0.0892.  



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



April gold closed higher on Friday and 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. If April renews 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 1310.70 would confirm that a short-term top has been posted. First resistance is January'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 the 20-day moving average crossing at 1310.70. Second support is January's low crossing at 1281.50.



March silver closed higher on Friday. The high-range close set the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that a short-term top might be in or is near. If March extends the decline off January's high, the 50-day moving average crossing at 15.388 is the next downside target. 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 January'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 the 50-day moving average crossing at 15.388. Second support is January's low crossing at 15.195.          



March copper posted a key reversal up on Friday. 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. If March renews the rally, September's high crossing at 288.80 is the next upside target. Closes below the 20-day moving average crossing at 275.76 would confirm that a short-term top has been posted. First resistance is December's high crossing at 285.80. Second resistance is September's high crossing at 288.80. First support is the 20-day moving average crossing at 275.76. Second support is the reaction low crossing at 263.45. 



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



March Corn closed unchanged at 3.74 3/4. 



March corn closed unchanged on Friday. The mid-range close sets the stage for a steady opening when Tuesday's night sessions begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below Monday's low would open the door for a possible test of January's low crossing at 3.71 an then November's low crossing at 3.67 1/4 are the next downside targets. 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 down 3 3/4-cents at 5.03 1/4. 



March wheat closed lower on Friday and spiked to a new contract low before a late-session rebound tempered early-session losses. 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 extends today's decline weekly support crossing at 4.93 1/2 is the next downside target. Closes above Wednesday's high crossing at 5.24 would confirm that a short-term low has been posted. First resistance is February's high crossing at 5.31 1/4. Second resistance is December's high crossing at 5.38 1/2. First support is today's low crossing at 4.99 1/4. Second support is January's low crossing at 5.01 1/4.     



March Kansas City Wheat closed down 5-cents at 4.76 1/2.

 

March Kansas City wheat closed lower on Friday as it extended this month's decline. If March extends this week's decline, weekly support crossing at 4.69 1/2 is the next downside target. The low-range close sets the stage for a steady to lower opening when Tuesday 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. Closes above the 50-day moving average crossing at 5.03 would temper the near-term bearish outlook. First resistance is January's high crossing at 5.18. Second resistance is December's high crossing at 5.24 1/4. First support is today's low crossing at 4.72. Second support is weekly support crossing at 4.69 1/2.  



March Minneapolis wheat closed down 1 3/4-cents at 5.73. 



March Minneapolis wheat 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 have turned neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the reaction low crossing at 5.63 1/4 would confirm that a short-term top has likely 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 5.63 1/4. 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 4 1/4-cents at 9.07 3/4.



March soybeans closed higher on Friday. 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 bearish signaling that sideways to lower prices are possible near-term. 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 bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off February's high, January's low crossing at 8.91 1/4 is the next downside target. Closes above Wednesday's high crossing at 9.20 would temper the near-term bearish outlook. First resistance is February's high crossing at 9.31 1/4. 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 up $0.70 at 306.20. 



March soybean meal closed higher on Friday. 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 resumes the decline off January's high, September's low crossing at 303.40 is the next downside target. Multiple closes above the 20-day moving average crossing at 310.10 would temper the bearish outlook. First resistance is the reaction high crossing at 317.40. Second resistance is January's high crossing at 324.60. First support is Monday's low crossing at 304.30. Second support is September's low crossing at 303.40.  



March soybean oil closed up 8 pts. at 29.97. 



March soybean oil closed higher on Friday but remain below the 20-day moving average crossing at 30.06. 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 bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off February's high, the 50-day moving average crossing at 29.12 is the next downside target. If March resumes the rally off December's low, the 50% retracement level of the 2017-2018-decline crossing at 31.69 is the next upside target. First resistance is February's high crossing at 31.01. Second resistance is the 50% retracement level of the 2017-2018-decline crossing at 31.69. First support is today's low crossing at 29.67. Second support is the 50-day moving average crossing at 29.12.    

 

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



April hogs closed up $0.83 at $59.53. 



April hogs closed higher on Friday. 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 a low might be in or is near. Closes above the 20-day moving average crossing at 61.56 are needed to confirm that a short-term low has been posted. If April resumes the decline off November's high, July's low crossing at 57.80 is the next downside target. First resistance is the 20-day moving average crossing at 61.56. Second resistance is the reaction high crossing at 63.33. First support is Monday's low crossing at 57.87. Second support is July's low crossing at 57.80.   



April cattle closed down $0.20 at 127.18. 



April cattle closed lower on Friday. 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. Closes below the 50-day moving average crossing at 126.03 are needed to 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 January's high crossing at 129.48. Second resistance is weekly resistance crossing at 134.55. First support is the 50-day moving average crossing at 126.03. Second support is January's low crossing at 123.50.   

 

March Feeder cattle closed down $1.48 at $142.60. 



March Feeder cattle closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Tuesday's session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If March renews the decline off December's high, December's low crossing at 140.35 is the next downside target. Closes above the reaction high crossing at 145.58 would temper the bearish outlook. First resistance is the reaction high crossing at 145.58. Second resistance is December's high crossing at 147.58. First support is January'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 slightly higher on Friday as it consolidates some of the decline off February's high. The low-range close sets the stage for a steady to lower 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 this month's decline, weekly support crossing at 95.10 is the next downside target. Closes above the 20-day moving average crossing at 10.29 are needed to confirm that a low has been posted.



March cocoa closed higher on Friday. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Today's close above the 50-day moving average crossing at 22.73 confirms that a short-term low has been posted. If March extends today's rally, the reaction high crossing at 23.68 is the next upside target. If March resumes the decline off December's high, December's low crossing at 20.95 is the next downside target.      



March sugar closed sharply higher on Friday. The high-range close set 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 reaction high crossing at 13.54 is the next upside target. If March renews the decline off January's high, January's low crossing at 11.69 is the next downside target.   



March cotton closed slightly higher on Friday. The high-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, the 87% retracement level of the 2016-2018-rally crossing at 66.12 is the next downside target. Closes above the 20-day moving average crossing at 72.70 would confirm that a short-term low has been posted. 

Comments
By metmike - Feb. 15, 2019, 10:11 p.m.
Like Reply

Thanks you Mr. Tallpine!