KEY EVENTS TO WATCH FOR:

Tuesday, March 5, 2019 

7:30 AM ET. Federal Reserve Bank of Boston President Eric Rosengren

                      addresses the National Association of Corporate Directors'

                      New England Chapter

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

                       Chain Store Sales, W/W% (previous -1.6%)

                       Chain Store Sales, M/M% (previous +1.1%)

8:55 AM ET. Johnson Redbook Retail Sales Index

                       Ret Sales Mo-to-Date, M/M% (previous -1.4%)

                       Ret Sales Mo-to-Date, Y/Y% (previous +5.1%)

                       Latest Wk, Y/Y% (previous +5.2%)

9:45 AM ET. February US Services PMI

                       PMI, Services (previous 54.2)

10:00 AM ET. December New Residential Sales * Release delayed from 25 Jan due to

                       the partial shutdown of the U.S. federal government which ended 25 Jan.

                       New Home Sales (previous 580K)

                       New Home Sales, M/M% (previous +6.6%)

                       New Home Sales Months Supply

10:00 AM ET. March IBD/TIPP Economic Optimism Index

                       Economic Optimism Idx (previous 50.3)

                       6-Mo Economic Outlook (previous 44.5)

10:00 AM ET. February ISM Non-Manufacturing Report on Business

                       Non-Mfg Composite Idx (previous 56.7)

                       Non-Mfg Business Idx (previous 59.7)

                       Prices Idx (previous 59.4)

                       Employment Idx (previous 57.8)

                       New Orders Idx (previous 57.7)

11:00 AM ET. February Global Services PMI

                       PMI, Services   (previous 52.6)

4:30 PM ET.  API Weekly Statistical Bulletin

                       Crude Stocks, Net Chg (Bbls) (previous -4.2M)

                       Gasoline Stocks, Net Chg (Bbls) (previous -3.8M)

                       Distillate Stocks, Net Chg (Bbls) (previous +0.4M)

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

The March NASDAQ 100 closed lower on Monday due to profit taking as traders await further details regarding the U.S./China trade agreement. 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 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 7280.27 is the next upside target. Closes below the 20-day moving average crossing at 7042.60 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 7042.60. Second support is the 50-day moving average crossing at 6735.36.  

The March S&P 500 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 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 87% retracement level of the September-December-decline crossing at 2865.28 is the next upside target. Closes below the 20-day moving average crossing at 2760.79 would confirm that a short-term top has been posted. First resistance is today's high crossing at 2819.00. 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 2760.79. Second support is the 50-day moving average crossing at 2646.97.  

The Dow closed lower on Monday as investors turned cautious after initially cheering reports that the U.S. and China were close to completing a landmark trade deal. Concerns that stocks are becoming too expensive on the back of a two-month rally from December lows also weighed on sentiment. 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 with today's weakness signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 25,664.35 are needed to confirm that a short-term top has been posted. If the Dow extends the rally off December's low, the 87% retracement level of the October-December-decline crossing at 26,282.43 is the next upside target. First resistance is the 87% retracement level of the October-December-decline crossing at 26,282.97. Second resistance is the October 2018 high crossing at 26,951.81. First support is the 20-day moving average crossing at 25,664.35. Second support is the reaction low crossing at 24,883.04.

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June T-bonds closed up 17/32's at 144-11.

June T-bonds closed higher on Monday as it consolidated some of its losses off February'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 possible near-term. If June extends this week's decline the 38% retracement level of the November-January-rally crossing at 144-30 is the next downside target. Closes above the 20-day moving average crossing at 145-12 would confirm that a short-term low has been posted. First resistance is February's high crossing at 146-17. Second resistance is January's high crossing at 147-31. First support is the 38% retracement level of the November-January-rally crossing at 143-10. Second support is the 50% retracement level of the November-January-rally crossing at 141-27.         

June T-notes closed up 75 points at 121.280.

June T-notes closed higher on Monday as it consolidated some of the decline off February'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 June extends this week's decline, the 38% retracement level of the October-December-rally crossing at 121.063 is the next downside target. Closes above the 20-day moving average crossing at 122.086 would confirm that a short-term low has been posted. First resistance is the reaction high crossing at 122.280. Second resistance is January's high crossing at 123.175. First support is the 38% retracement level of the October-December-rally crossing at 121.063. Second support is the 50% retracement level of the October-December-decline crossing at 120.150.        

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

April crude oil posted an inside day with a higher close on Monday leaving last Friday's key reversal down unconfirmed. The mid-range close sets the stage for a steady opening when Tuesday's night session begins. 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 55.34 are needed to confirm that a short-term top has been posted. If April extends the rally off December's low, the 50% retracement level of the October-December-decline crossing at 59.51 is the next upside target. First resistance is the 50% retracement level of the October-December-decline crossing at 59.51. Second resistance is the 62% retracement level of the October-December-decline crossing at 63.44. First support is the reaction low crossing at 51.62. Second support is December's low crossing at 43.00.

April heating oil closed higher on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday's night trading session begins. 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 196.69 are needed to confirm that a short-term top has been posted. If April resumes the rally off December's low, the 62% retracement level of the October-December-decline crossing at 212.17 is the next upside target. First resistance is the 50% retracement level of the October-December-decline crossing at 202.41. Second resistance is the 62% retracement level of the October-December-decline crossing at 212.17. First support is the 20-day moving average crossing at 196.69. Second support is the 50-day moving average crossing at 186.65. 

April unleaded gas closed higher 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 overbought, diverging 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 169.28 are needed to confirm that a short-term top has been posted.If April resumes the rally off December's low, the 50% retracement level of the October-December-decline crossing at 188.48 is the next upside target. First resistance is the 38% retracement level of the October-December-decline crossing at 177.50. Second resistance is the 50% retracement level of the October-December-decline crossing at 188.48. First support is the 20-day moving average crossing at 169.28. Second support is the 50-day moving average crossing at 162.01.

April Henry natural gas closed slightly higher on Monday as it extends the rally off February's low. 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If April extends the rally off February's low, the 75% retracement level of the November-February decline crossing at 2.938 is the next upside target. Closes below the 20-day moving average crossing at 2.708 would confirm that a short-term top has been posted. First resistance is the 62% retracement level of the November-February decline crossing at 2.872. Second resistance is the 75% retracement level of the November-February decline crossing at 2.938. First support is the reaction low crossing at 2.732. Second support is the reaction low crossing at 2.589.       

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

The June Dollar closed higher for the fourth day in a row 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 neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the reaction high crossing at 96.14 are needed to temper the near-term bearish outlook. If June resumes the decline off February's high, the 38% retracement level of the July-February-rally crossing at 95.04 is the next downside target. First resistance is February's high crossing at 96.69. Second resistance is weekly resistance crossing at 97.83. First support is the 38% retracement level of the July-February-rally crossing at 95.04.Second support is the 50% retracement level of the July-February-rally crossing at 94.52.    

The June Euro 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 signaling that short-term top might be in or is near. If June renews the decline off January's high, the 87% retracement level of the 2016-2018 rally crossing at 112.62 is the next downside target. Closes above the 50-day moving average crossing at 115.28 are needed to confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 115.28. Second resistance is the reaction high crossing at 116.46. First support is February's low crossing at 113.49. Second support is the 87% retracement level of the 2016-2018 rally crossing at 112.62.     

The June British Pound closed lower for the third day in a row 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 Monday's night session begins trading. Stochastics and the RSI 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 1.3109 would confirm that a short-term top has been posted. If June extends the aforementioned rally, the 50% retracement level of the April-December-2018 decline crossing at 1.3603 is the next upside target. First resistance is Wednesday's high crossing at 1.3422. Second resistance is the 50% retracement level of the April-December-2018 decline crossing at 1.3603. First support is the 20-day moving average crossing at 1.3109. Second support is the 50-day moving average crossing at 1.3014.   

The June Swiss Franc closed slightly 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 bearish signaling that sideways to lower prices are possible near-term. If June resumes this winter's decline, weekly support crossing at 0.9902 is the next downside target. Closes above the 50-day moving average crossing at 1.0194 is the next upside target. First resistance is the 50-day moving average crossing at 1.0194. Second resistance is the reaction high crossing at 1.0223. First support is February's low crossing at 1.0019. Second support is weekly support crossing at 0.9902.

The June Canadian Dollar closed slightly lower on Monday as it extended last Friday's sharp 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 are neutral to bearish signaling that sideways to lower prices are possible near-term. Today's close below the 50-day moving average crossing at 75.40 confirms that a short-term top has been posted while opening the door for additional weakness near-term. Closes above the 10-day moving average crossing at 75.94 would temper the near-term bearish outlook. First resistance is the 38% retracement level of the September-December-decline crossing at 76.84. Second resistance is the 50% retracement level of the September-December-decline crossing at 77.90. First support is the reaction low crossing at 75.04. Second support is December's low crossing at 74.47.  

The June Japanese Yen posted an inside day with a higher close on Monday 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 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 June extends the decline off January's high, November's low crossing at 0.0893 is the next downside target. Closes above the 20-day moving average crossing at 0.0912 are needed to confirm that a short-term low has been posted. First resistance is the reaction high crossing at 0.0915. Second resistance is the reaction high crossing at 0.0922. First support is the 87% retracement level of the November-January-rally crossing at 0.0900. Second support is November's low crossing at 0.0893.  

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

April gold closed lower on Monday as it extends the decline off February's high. 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If April extends the aforementioned decline, January's low crossing at 1281.50 is the next downside target. Closes above the 10-day moving average crossing at 1322.10 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 1322.10. Second resistance is February's high crossing at 1349.80. First support is January's low crossing at 1281.50. Second support is the 50% retracement level of the August-February-rally crossing at 1273.20.

May silver closed sharply lower on Monday as it extends the decline off February's high. The low-range close set the stage for a steady to lower 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 May extends the decline off February's high, the 62% retracement level of the November-February-rally crossing at 14.935 is the next downside target. Closes above the 20-day moving average crossing at 15.793 would confirm that a low has been posted. First resistance is February's high crossing at 16.295. Second resistance is the 50% retracement level of the 2017-2018-decline crossing at 16.355. First support is the 62% retracement level of the November-February-rally crossing at 14.935. Second support is the 75% retracement level of the November-February-rally crossing at 14.644.         

May copper closed lower on Monday as it consolidated 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 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 286.85 would confirm that a short-term top has been posted. If March extends the rally, the 62% retracement level of the April-December-2018 decline crossing at 306.69 is the next upside target. First resistance the 50% retracement level of the April-December-2018 decline crossing at 296.76. Second resistance is the 62% retracement level of the April-December-2018 decline crossing at 306.69. First support is the 20-day moving average crossing at 286.85. Second support is the 50-day moving average crossing at 275.64. 

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

May Corn closed up 2-cents at 3.75. 

May corn closed higher on Monday giving greater importance that last-Friday's upside reversal marked an important short-term low. The mid to lower-range close sets the stage for a steady to lower 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 the 20-day moving average crossing at 3.81 are needed to confirm that a short-term low has been posted. If May extends the decline off November's high, September's low crossing at 3.63 1/4 is the next downside target. First resistance is the 10-day moving average crossing at 3.77 1/4. Second resistance is the 20-day moving average crossing at 3.81. First support is last Friday's low crossing at 3.66. Second support is September's low crossing at 3.63 1/4.  

May wheat closed down 1 3/4-cents at 4.55 1/2. 

May wheat closed lower on Monday as it extended the decline off February's high. 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends this winter's decline, weekly support crossing at 4.43 1/2 is the next downside target. Closes above the 20-day moving average crossing at 4.97 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 4.73 1/4. Second resistance is the 20-day moving average crossing at 4.97. First support is last Friday's low crossing at 4.47 1/4. Second support is weekly support crossing at 4.43 1/2.     

May Kansas City Wheat closed down 1 3/4-cents at 4.43.

May Kansas City wheat closed lower on Monday. 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. If May extends the decline off December's high, weekly support crossing at 4.17 3/4 is the next downside target. Closes above the 20-day moving average crossing at 4.77 1/2 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 4.52 3/4. Second resistance is the 20-day moving average crossing at 4.77 1/2. First support is last Friday's low crossing at 4.32 1/2. Second support is weekly support crossing at 4.17 3/4.  

May Minneapolis wheat closed down 6 1/4-cents at 5.52. 

May Minneapolis wheat closed lower on Monday as it extends the consolidation pattern of the past two-weeks. 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 May renews the decline off January's high, weekly support crossing at 5.44 1/2 is the next downside target. Closes above the reaction high crossing at 5.73 are needed to confirm that a low has been posted. First resistance is January's high crossing at 5.83 3/4. Second resistance is December's high crossing at 5.93 3/4. First support is February's low crossing at 5.48. Second support is weekly support crossing at 5.44 1/2.    

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

May soybeans closed up 4 3/4-cents at 9.16 1/4.

May soybeans closed higher on Monday on positive news that U. S./China trade negotiations are positive and we may soon see the signing of a new trade agreement between both countries. However, profit taking ahead of the close tempered early-session gains and 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. Closes above last-Monday's high crossing at 9.34 1/2 are needed to temper the near-term bearish outlook. If May extends the decline off February's high, December's low crossing at 8.93 1/2 is the next downside target. First resistance is February's high crossing at 9.45. Second resistance is December's high crossing at 9.53. First support is last-Friday's low crossing at 9.00 1/2. Second support is December's low crossing at 8.93 1/2.  

May soybean meal closed up $2.80 at 310.20. 

May soybean meal closed higher on Monday following last Friday's upside reversal. 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 a short-term low might be in or is near. Multiple closes above the 20-day moving average crossing at 310.30 are needed to confirm that a short-term low has been posted. If May extends the decline off January's high, psychological support crossing at 300.0 is the next downside target. First resistance is the 50-day moving average crossing at 314.30. Second resistance is February's high crossing at 321.30. First support is last Friday's low crossing at 302.80. Second support is psychological support crossing at 300.00.  

May soybean oil closed down 13 pts. at 30.11. 

May soybean oil 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 February's low crossing at 29.94 would confirm that a short-term top has been posted while opening the door for additional weakness near-term. If May resumes the rally off December's low, the 50% retracement level of the 2017-2018-decline crossing at 32.02 is the next upside target. First resistance is February's high crossing at 31.32. Second resistance is the 50% retracement level of the 2017-2018-decline crossing at 32.02. First support is February's low crossing at 29.94. Second support is the 50-day moving average crossing at 29.64.    

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

April hogs closed up $0.93 at $57.33. 

April hogs closed higher 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 bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing at 57.84 are needed to confirm that a short-term low has been posted. If April resumes the decline off November's high, weekly support crossing at 51.27 is the next downside target. First resistance is the 20-day moving average crossing at 57.84. Second resistance is the reaction high crossing at 61.33. First support is February's low crossing at 52.25. Second support is weekly support crossing at 51.27.   

April cattle closed down $1.20 at 128.35. 

April cattle 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 50-day moving average crossing at 127.03 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 last Friday's high crossing at 130.45. Second resistance is weekly resistance crossing at 134.55. First support is the 50-day moving average crossing at 127.03. Second support is February's low crossing at 125.75.   

April Feeder cattle closed down $0.03 at $146.02. 

April Feeder cattle closed slightly lower on Monday following last-Friday's key reversal down. The mid-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. Closes below the reaction low crossing at 144.37 would confirm that a short-term top has been posted. If April extends the rally off January's low, December's high crossing at 147.83 is the next upside target. First resistance is December's high crossing at 147.83. Second resistance is November's high crossing at 150.20. First support is January's low crossing at 142.63. Second support is December's low crossing at 141.30.  

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

May coffee 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. If May extends this winter's decline, weekly support crossing at 95.10 is the next downside target. Closes above the 20-day moving average crossing at 10.21 are needed to confirm that a low has been posted. 

May cocoa closed sharply lower on Monday as it renewed the decline off December'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 May extends the decline off February's high, December's low crossing at 21.12 is the next downside target. Closes above the 50-day moving average crossing at 23.14 would confirm that a low has been posted.         

May sugar closed lower on Monday as it extends the decline off February's high. The low-range close set the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends the aforementioned decline, January's low crossing at 11.82 is the next downside target. Closes above the 10-day moving average crossing at 12.97 would confirm that a low has been posted.   

May cotton closed lower on Monday. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 73.89 would confirm that a short-term low has been posted. If May renews the decline off December's high, the 87% retracement level of the 2016-2018-rally crossing at 68.36 is the next downside target.