KEY EVENTS TO WATCH FOR:

Wednesday, March 6, 2019  

7:00 AM ET. MBA Weekly Mortgage Applications Survey

                       Composite Idx (previous 384.8)

                       Composite Idx, W/W% (previous +5.3%)

                       Purchase Idx-SA (previous 247.0)

                       Purchase Idx-SA, W/W% (previous +6.1%)

                       Refinance Idx (previous 1133.8)

                       Refinance Idx, W/W% (previous +4.6%)

8:15 AM ET. February ADP National Employment Report

                       Private Sector Jobs, Net Chg (expected +185000; previous +213000)

8:30 AM ET. December U.S. International Trade in Goods & Services * Release

                      delayed from 5 Feb due to the partial shutdown of the U.S.

                      federal government which ended 25 January.

                       Trade Balance (USD) (expected -57.3B; previous -49.31B)

                       Exports (USD) (previous 209.87B)

                       Exports, M/M% (previous -0.6%)

                       Imports (USD) (previous 259.19B)

                       Imports, M/M% (previous -2.9%)

10:00 AM ET. February Online Help Wanted Index

10:30 AM ET. EIA Weekly Petroleum Status Report

                       Crude Oil Stocks (Bbl) (previous 445.865M)

                       Crude Oil Stocks, Net Chg (Bbl) (previous -8.647M)

                       Gasoline Stocks (Bbl) (previous 254.941M)

                       Gasoline Stocks, Net Chg (Bbl) (previous -1.906M)

                       Distillate Stocks (Bbl) (previous 138.379M)

                       Distillate Stocks, Net Chg (Bbl) (previous -0.304M)

                       Refinery Usage (previous 87.1%)

                       Total Prod Supplied (Bbl/day) (previous 21.47M)

                       Total Prod Supplied, Net Chg (Bbl/day) (previous +0.75M)

2:00 PM ET. U.S. Federal Reserve Beige Book

Thursday, March 7, 2019  

7:30 AM ET. February Challenger Job-Cut Report

                       Job Cuts, M/M% (previous +20.7%)

8:30 AM ET. Week En  U.S. Weekly Export Sales

                       Corn (Metric Tons) (previous 1360.4K)

                       Soybeans (Metric Tons) (previous 2196.2K)

                       Wheat (Metric Tons) (previous 537.4K)

8:30 AM ET. 4^th Quarter Revised Productivity & Costs

                       Non-Farm Productivity (expected +1.6%; previous +2.3%)

                       Unit Labor Costs (expected +1.7%; previous +0.9%)

8:30 AM ET. Unemployment Insurance Weekly Claims Report - Initial Claims

                       Jobless Claims (expected 221K; previous 225K)

                       Jobless Claims, Net Chg (previous +8K)

                       Continuing Claims (previous 1805000)

                       Continuing Claims, Net Chg (previous +79K)

9:45 AM ET. Bloomberg Consumer Comfort Index

10:30 AM ET. EIA Weekly Natural Gas Storage Report

                       Working Gas In Storage (Cbf) (previous 1539B)

                       Working Gas In Storage, Net Chg (Cbf) (previous -166B)

12:00 PM ET. February Monthly U.S. Retail Chain Store Sales Index

2:00 PM ET. SEC Closed Meeting

3:00 PM ET. January Consumer Credit

                       Consumer Credit Net Chg (USD) (expected +16.25B; previous +16.55B)

4:30 PM ET. Foreign Central Bank Holdings

4:30 PM ET. Federal Discount Window Borrowings

4:30 PM ET. Money Stock Measures

Friday, March 8, 2019  

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

                       Non-Farm Payrolls (expected +180K; previous +304K)

                       Unemployment Rate (expected 3.9%; previous 4.0%)

                       Avg Hourly Earnings (USD)  (previous 27.56)

                       Avg Hourly Earnings-Net Chg (USD) (previous +0.03)

                       Avg Hourly Earnings, M/M% (expected +0.3%; previous +0.11%)

                       Avg Hourly Earnings, Y/Y% (previous 2.2%)

                       Overall Workweek (previous 34.5)

                       Overall Workweek Net Chg (previous +0)

                       Government Payrolls (previous +8K)

                       Private Payroll (previous +296K)

                       Participation Rate (previous 63.2%)

                       Non-Farm Payrolls Bench Net Chg (previous -1K)

8:30 AM ET. January New Residential Construction - Housing Starts and Building Permits

                       Total Starts (expected 1.18M; previous 1.078M)

                       Housing Starts, M/M% (expected +9.5%; previous -11.2%)

                       Building Permits (expected 1.29M; previous 1.326M)

                       Building Permits, M/M% (expected -2.7%; previous +0.3%)

12:00 PM ET. World Agricultural Supply & Demand Estimates (WASDE)

                       Corn, End Stocks (Bushels)

                       Soybeans, End Stocks (Bushels)

                       Wheat, End Stocks (Bushels)

                       Cotton, End Stocks (Bales)

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

The STOCK INDEXES:The March NASDAQ 100 was steady to slightly higher overnight. Stochastics and the RSI are overbought but are poised to turn neutral to bearish with additional weakness signaling that the index is vulnerable to a pause or short-term setback as it consolidates some of the rally off December's low. Closes below the 20-day moving average crossing at 7060.65 are needed to confirm that a short-term top has been posted. If March extends the rally off December's low, the 75% retracement level of the October-December-decline crossing at 7280.27 is the next upside target. First resistance is Monday's high crossing at 7211.50. 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 7060.65. Second support is the reaction low crossing at 7005.00.  

The March S&P 500 was slightly lower overnight as it extends the trading range of the past seven-days. Stochastics and the RSI have turned neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 2767.10 would confirm that a short-term top has been posted.If March resumes the rally off December's low, November's high crossing at 2823.20 is the next upside target. First resistance is November's high crossing at 2823.20. 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 2767.10. Second support is the reaction low crossing at 2729.40.

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

INTEREST RATES: June T-bonds were steady to slightly higher overnight. Stochastics and the RSI are turning neutral to bullish hinting that a short-term low might be in or is near. Closes above the 20-day moving average crossing at 145-11 are needed to confirm that a short-term low has been posted. If June resumes the decline off February's high, the 38% retracement level of the November-January rally crossing at 143-10 is the next downside target. 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 was steady to slightly higher overnight. Stochastics and the RSI are turning neutral to bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing at 122.082 are needed to temper the near-term bearish outlook. If June resumes the decline off January's high, the 38% retracement level of the October-January rally crossing at 121.063 is the next downside target. 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-January rally crossing at 121.063. Second support is the 50% retracement level of the October-January rally crossing at 120.150.

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

April crude oil was slightly lower overnight while extending the trading range for the past three-weeks. The mid-range overnight trade sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 55.50 are needed to confirm that a short-term top has been posted. If April resumes the rally off December's low, the reaction high crossing at 58.70 is the next upside target. First resistance is last-Friday's high crossing at 57.88. Second resistance is the 50% retracement level of the October-December-decline crossing at 59.51. First support is the 20-day moving average crossing at 55.50. Second support is the 50-day moving average crossing at 52.87.  

April heating oil was steady to slightly lower overnight. However, 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 bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 197.84 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 62% retracement level of the October-December-decline crossing at 212.17. Second resistance is the 75% retracement level of the October-December-decline crossing at 223.08. First support is the 20-day moving average crossing at 197.84. Second support is the 50-day moving average crossing at 187.76. 

April unleaded gas was higher overnight as it extends the trading range of the past two weeks. 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 December's low, the reaction high crossing at 182.49 is the next upside target. Closes below the 20-day moving average crossing at 170.77 would confirm that a short-term top has been posted. 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 170.77. Second support is the 50-day moving average crossing at 162.93. 

April Henry natural gas was higher overnight as it extends the rally off February's low. 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 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 2.731 would confirm that a short-term top has been posted. First resistance is the overnight high crossing at 2.896. Second resistance is the 75% retracement level of the December-February-decline crossing at 2.938. First support is the 10-day moving average crossing at 2.813. Second support is the 20-day moving average crossing at 2.731.

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

CURRENCIES:The June Dollar was higher overnight. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off February's low, February's high crossing at 96.68 is the next upside target. Closes below the 50-day moving average crossing at 95.49 would confirm that a short-term top has been posted. First resistance is February's high crossing at 96.68. Second resistance is weekly resistance crossing at 97.83. First support is the 38% retracement level of the September-December-rally crossing at 95.04. Second support is the 50% retracement level of the September-December-rally crossing at 94.52.

The June Euro was lower overnight. The mid-range trade overnight sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends the decline off last-Thursday's high, February's low crossing at 113.50 is the next downside target. Closes above the 50-day moving average crossing at 115.20 would open the door for a larger-degree rally off February's low. First resistance is the 50-day moving average crossing at 115.20. Second resistance is the reaction high crossing at 116.46. First support is February's low crossing at 113.50. Second support is the 87% retracement level of the 2016-2018-rally crossing at 112.62.    

The June British Pound was lower overnight as it consolidates some of the rally off January's low. The mid-range overnight trade sets the stage for a steady to lower opening when the day session beings trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 1.3123 are needed to confirm that a short-term top has been posted. If June resumes the rally off February's low, the 50% retracement level of the April-December-decline crossing at 1.3603 is the next upside target. First resistance is September's high crossing at 1.3445. 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 1.3123. Second support is the 50-day moving average crossing at 1.3033.  

The June Swiss Franc was lower overnight as it extends the decline off February's high. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If June resumes the decline off January's high, weekly support crossing at 0.9902 is the next downside target. If June extends the rally off February's low, the 50-day moving average crossing at 1.0185 is the next upside target. First resistance is the 50-day moving average crossing at 1.0185. 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 was lower overnight as it extends the decline off last-week's high. Tuesday's decline marked a downside breakout of this year's head-and-shoulders top thereby opening the door for a likely test of December's low crossing at 73.47. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. Closes above the 10-day moving average crossing at 75.73 would temper the bearish outlook. First resistance is the 38% retracement level of the 2017-2018-decline crossing at 76.86. Second resistance is the 50% retracement level of the October-December-decline crossing at 77.91. First support is the overnight low crossing at 74.91. Second support is December's low crossing at 73.47.

The June Japanese Yen was mostly steady in quiet trading overnight as it consolidates some of the decline off January's high. Stochastics and the RSI are oversold but remain neutral to bearish signaling that additional weakness is possible near-term. If June extends the decline off January's high, November's low crossing at 0.0896 is the next downside target. Closes above the 20-day moving average crossing at 0.0911 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 0.0911. 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 0.0896.

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

PRECIOUS METALS: April gold was lower overnight as it extends the decline off February's high. 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 February's high, the 50% retracement level of the September-February-rally crossing at 1273.20 is the next downside target. Closes above the 20-day moving average crossing at 1315.80 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 1315.80. Second resistance is February's high crossing at 1349.80. First support is Tuesday's low crossing at 1282.00. Second support is the 50% retracement level of the September-February-rally crossing at 1273.20.

May silver was lower overnight. 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-January-rally crossing at 14.935 is the next downside target. Closes above the 20-day moving average crossing at 15.711 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 15.711. Second resistance is February's high crossing at 16.295. First support is Tuesday's low crossing at 15.060. Second support is the 62% retracement level of the November-January-rally crossing at 14.935. 

May copper was steady to slightly higher overnight as it consolidated some of Monday's loss. The high-range trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 288.05 are needed to confirm that a short-term top has been posted. If May extends the rally off January's low, 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 the 62% retracement level of the April-December-2018 decline crossing at 306.69. First support is the 20-day moving average crossing at 288.05. Second support is the 50-day moving average crossing at 276.62.  

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

May corn was steady to fractionally lower overnight as it consolidated some of the gains off last Friday's low. Stochastics and the RSI are neutral to bullish hinting that a low might be in or is near. The low-range trade overnight sets the stage for a steady to lower opening when the day session begins trading. Closes above the 20-day moving average crossing at 3.79 3/4 are needed to confirm that a short-term low has been posted. If May resumes the decline off January'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 3.76 1/2. Second resistance is the 20-day moving average crossing at 3.79 3/4. First support is the 87% retracement level of the September-November-rally crossing at 3.67 3/4. Second support is September's low crossing at 3.63 1/4.  

May wheat was lower overnight.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 May extends the decline off January's high, weekly support crossing at 4.43 1/2 is the next downside target. Closes above the 20-day moving average crossing at 4.90 1/4 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 4.68 1/4. Second resistance is the 20-day moving average crossing at 4.90 1/4. First support is psychological support crossing at 4.50. Second support is weekly support crossing at 4.43 1/2.

May Kansas City Wheat closed up 8 1/4-cents at 4.51 1/4.

May Kansas City wheat closed higher on Tuesday. The high-range close sets the stage for a steady to higher opening when Wednesday night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 4.74 1/4 are needed to confirm that a short-term low has been posted. If May extends the decline off December's high, weekly support crossing at 4.17 3/4 is the next downside target. First resistance is the 10-day moving average crossing at 4.51. Second resistance is the 20-day moving average crossing at 4.74 1/4. 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 was steady to fractionally higher overnight as it extends the consolidation pattern of the past two 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 neutral to bearish signaling that sideways to lower prices are possible near-term. If May resumes 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 short-term low has been posted. First resistance is the reaction high crossing at 5.73. Second resistance is February's high crossing at 5.81 1/4. 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 were mostly steady in quiet trading overnight. 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 neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the reaction high crossing at 9.34 1/4 are needed to temper the near-term bearish outlook. If May renews the decline off February's high, December's low crossing at 8.93 1/2 is the next upside target. First resistance is the reaction high crossing at 9.34 1/2. Second resistance is February's high crossing at 9.45. First support is December's low crossing at 8.93 1/2. Second support is the November-26th low crossing at 8.84 3/4.

May soybean meal was steady to slightly lower overnight as it consolidates some of its gains off last-Friday's low. The low-range close sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are neutral to bullish hinting that a low might be in or is near. Closes above the reaction high crossing at 314.70 are needed to temper the near-term bearish outlook. If May resumes the decline off January's high, psychological support crossing at 300.00 is the next downside target. First resistance is the reaction high crossing at 314.70. 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 was slightly lower overnight. The mid-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 May extends the decline off February's high, the 50-day moving average crossing at 29.68 is the next downside target. Closes above last-Friday's high crossing at 30.64 would confirm that a short-term low has been posted. 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 the reaction low crossing at 29.26. Second support is the 50-day moving average crossing at 29.68.

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

April hogs closed up $0.58 at $57.90. 

April hogs closed higher on Tuesday as it extends the rally off February's low. Today's close above the 20-day moving average crossing at 57.58 confirms that a short-term low has been posted while opening the door for additional gains near-term. The mid-range close sets the stage for a steady opening when Wednesday's night session begins trading. Stochastics and the RSI are neutral to bullish hinting that a low might be in or is near. If April extends the rally off February's low, the reaction high crossing at 61.32 is the next downside target. First resistance is the reaction high crossing at 61.32. Second resistance is the 50-day moving average crossing at 62.30. First support is February's low crossing at 52.25. Second support is weekly support crossing at 51.27.   

April cattle closed up $0.48 at 128.83. 

April cattle closed higher on Tuesday. The high-range close sets the stage for a steady to higher opening when Wednesday'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 127.12 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 127.12. Second support is February's low crossing at 125.75.   

April Feeder cattle closed down $0.63 at $144.40. 

April Feeder cattle closed lower on Tuesday as it extended losses off last Friday's high. The low-range close sets the stage for a steady to lower opening when Wednesday'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 higher on Tuesday. The high-range close sets the stage for a steady to higher opening on Wednesday. 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 10.16 are needed to confirm that a low has been posted. If May extends this winter's decline, weekly support crossing at 95.10 is the next downside target. 

May cocoa closed higher on Tuesday as it consolidated some of the decline off December's high. The high-range close sets the stage for a steady to higher opening on Wednesday. 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 23.11 would confirm that a low has been posted.         

May sugar closed higher on Tuesday as it consolidated some of the decline off February's high. The low-range close set the stage for a steady to lower opening on Wednesday. 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 aforementioned decline, January's low crossing at 11.82 is the next downside target. Closes above the 10-day moving average crossing at 12.89 would confirm that a low has been posted.   

May cotton closed higher on Tuesday. The high-range close sets the stage for a steady to higher opening on Wednesday. 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 73.82 confirms 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.