KEY EVENTS TO WATCH FOR:

Friday, March 15, 2019  

8:30 AM ET. March Empire State Manufacturing Survey

                       Mfg Idx (previous 8.8)

                       Employment Idx (previous 4.1)

                       New Orders Idx (previous 7.5)

                       Prices Received (previous 22.9)

9:15 AM ET. February Industrial Production & Capacity Utilization

                       Industrial Production, M/M% (previous 0.6%)

                       Capacity Utilization %  (previous 78.2%)

                       Capacity Utilization, Net Chg (Pts) (previous -0.6)

10:00 AM ET. March University of Michigan Survey of Consumers – preliminary

                       Mid-Mo Sentiment (previous 95.5)

                       Mid-Mo Expectations (previous 86.2)

                       Mid-Mo Current Idx (previous 110.0)

10:00 AM ET. January Metropolitan Area Employment & Unemployment

10:00 AM ET. January Job Openings & Labor Turnover Survey

4:00 PM ET. January Treasury International Capital Data

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

The STOCK INDEXES:The June NASDAQ 100 was higher overnight. The high-range overnight trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June resumes the rally off December's low, the 87% retracement level of the October-December-decline crossing at 7524.41 is the next upside target. Closes below last Friday's low crossing at 6965.75 would confirm that a short-term top has been posted. First resistance is the 75% retracement level of the October-December-decline crossing at 7292.15. Second resistance  is the 87% retracement level of the October-December-decline crossing at 7524.41. First support is last-Friday's low crossing at 6965.75. Second support is the 50-day moving average low crossing at 6928.57.  

The June S&P 500 was higher overnight but appears poised to resume the rally off last-Friday's low. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off December's low, the 87% retracement level of the September-December-decline crossing at 2879.73 is the next upside target. Closes below last-Friday's low crossing at 2728.00 would confirm that a short-term top has been posted while opening the door for a possible test of the 50-day moving average crossing at 2709.21.First resistance is the 75% retracement level of the September-December-decline crossing at 2805.73. Second resistance is the 87% retracement level of the September-December-decline crossing at 2879.73. First support is last-Friday's low crossing at 2728.00. Second support is the 50-day moving average crossing at 2709.21.

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 bearish hinting that a short-term top might be in or is near. Closes below the 50-day moving average crossing at 145-10 would temper the near-term friendly outlook. If June resumes the rally off last week's low, January's high crossing at 147-31 is the next upside 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 were mostly steady in quiet trading overnight as it consolidates some of the rally off March's low. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off March's low, January's high crossing at 123.175 is the next upside target. Closes below the 50-day moving average crossing at 122.076 would temper the near-term friendly outlook. First resistance is Tuesday's high crossing at 122.310. 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 steady to slightly higher overnight as it extends the rally off December's low. The low-range overnight trade sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If April resumes the rally off December's low, the 50% retracement level of the October-December-decline crossing at 59.51 is the next upside target. Closes below the 50-day moving average crossing at 54.46 are needed to confirm that a short-term top has been posted. First resistance is the overnight high crossing at 58.95. Second resistance is the 50% retracement level of the October-December-decline crossing at 59.51. First support is last-Friday's low crossing at 54.52. Second support is the 50-day moving average crossing at 54.46.  

April heating oil was steady to slightly lower overnight as it extends the trading range of the past four-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. Closes below last-Friday's low crossing at 194.52 would confirm that a short-term top has been posted while opening the door for additional weakness near-term. 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 last-Friday's low crossing at 194.52. Second support is the 50-day moving average crossing at 192.25. 

April unleaded gas was slightly lower overnight. 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 50% retracement level of the October-December-decline crossing at 188.70 is the next upside target. Closes below the 20-day moving average crossing at 177.67 would confirm that a short-term top has been posted. First resistance is the 50% retracement level of the October-December-decline crossing at 188.70. Second resistance is the 62% retracement level of the October-December-decline crossing at 199.62. First support is the 20-day moving average crossing at 177.67. Second support is the 50-day moving average crossing at 167.67. 

April Henry natural gas was slightly lower overnight. The high-range overnight trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above Monday's gap crossing at 2.856 would temper the near-term bearish outlook. Closes below Tuesday's low crossing at 2.752 are needed to confirm that a short-term top has been posted. First resistance is last-Wednesday's high crossing at 2.896. Second resistance is the 75% retracement level of the December-February-decline crossing at 2.938. First support is Tuesday's low crossing at 2.752. Second support is the Feb. 27^th reaction low crossing at 2.732.

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

CURRENCIES:The June Dollar was lower overnight. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends this month's decline, the 50-day moving average crossing at 95.62 is the next downside target. If June resumes the rally off February's low, weekly resistance crossing at 97.83 is the next upside target. First resistance is last-Thursday's high crossing at 97.16. Second resistance is weekly resistance crossing at 97.83. First support is the 50-day moving average crossing at 95.62. Second support is the late-February low crossing at 95.24.

The June Euro was slightly higher overnight. The mid-range trade overnight sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 114.19 are needed to confirm that a short-term low has been posted. If June resumes the decline off the late-February high, the April-10th-2017 low crossing at 111.05 is the next downside target. First resistance is the 20-day moving average crossing at 114.19. Second resistance is the 50-day moving average crossing at 114.91. First support is the 87% retracement level of the 2016-2018-rally crossing at 112.62. Second support is the April-10th-2017 low crossing at 111.05.   

The June British Pound was slightly higher overnight. The high-range overnight trade sets the stage for a steady to higher opening when the day session beings trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends Wednesday's rally, the 50% retracement level of the 2018 decline crossing at 1.3603. Closes below the 50-day moving average crossing at 1.3096 would open the door for a possible test of February's low crossing at 1.2854. First resistance is Wednesday's high crossing at 1.3441. Second resistance is the 50% retracement level of the 2018 decline crossing at 1.3603. First support is the 50-day moving average crossing at 1.3096. Second support is February's low crossing at 1.2854.  

The June Swiss Franc was steady to slightly higher overnight. 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 1.0067 are needed to confirm that a low has been posted. If June extends the decline off the late-February high, weekly support crossing at 0.9902 is the next downside target. First resistance is the 20-day moving average crossing at 1.0067. Second resistance is the 50-day moving average crossing at 1.0149. First support is last-Thursday's low crossing at 0.9970. Second support is weekly support crossing at 0.9902. 

The June Canadian Dollar was steady to slightly higher overnight. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 75.48 are needed to confirm that a short-term low has been posted. If June renews the decline off February's high, December's low crossing at 73.47 is the next likely downside target. First resistance is the 20-day moving average crossing at 75.48. Second resistance is the late-February high crossing at 76.46. First support is last-Friday's low crossing at 74.43. Second support is December's low crossing at 73.47.

The June Japanese Yen was steady to slightly lower overnight. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If June resumes the decline off January's high, last-November's low crossing at 0.0893 is the next downside target. Closes above last-Friday's high crossing at 0.0911 would temper the near-term bearish outlook. First resistance is last-Friday's high 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 last-November's low crossing at 0.0893.

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

PRECIOUS METALS: April gold was higher overnight. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 1310.50 are needed to confirm that a short-term low has been posted. If April resumes the decline off February's high, the 50% retracement level of the September-February-rally crossing at 1273.20 is the next downside target. First resistance is the 20-day moving average crossing at 1310.50. Second resistance is February's high crossing at 1349.80. First support is last-Thursday's low crossing at 1280.80. Second support is the 50% retracement level of the September-February-rally crossing at 1273.20.

May silver was higher overnight as it consolidates some of Thursday's loss. 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 15.547 are needed to confirm that a short-term low has been posted. If May resumes the decline off February's high, the 62% retracement level of the November-January-rally crossing at 14.935 is the next downside target. First resistance is the 20-day moving average crossing at 15.547. Second resistance is the 50-day moving average crossing at 15.689. First support is last-Thursday's low crossing at 14.985. Second support is the 62% retracement level of the November-January-rally crossing at 14.935. 

May copper was higher overnight. The mid-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 last-Friday's low crossing at 287.46 are needed to confirm that a short-term top has been posted. If May renews 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 last-Friday's low crossing at 287.46. Second support is the 50-day moving average crossing at 280.01.  

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

May corn was mostly steady overnight. The mid-range trade overnight sets the stage for a mostly steady opening when the day session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that a double bottom with last-November's low was likely posted with Tuesday's low of 3.61. If May extends the decline off January's high, weekly support crossing at 3.55 1/4 is the next downside target.Closes above the 20-day moving average crossing at 3.73 1/4 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 3.73 1/4. Second resistance is the 50-day moving average crossing at 3.81 1/4. First support is Tuesday's low crossing at 3.61. Second support is weekly support crossing at 3.55 1/4.  

May wheat was 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 neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 4.63 are needed to confirm that a short-term low has been posted. If May resumes the decline off January's high, weekly support crossing at 4.19 1/4 is the next downside target. First resistance is the 20-day moving average crossing at 4.63. Second resistance is the 50-day moving average crossing at 4.99. First support is Monday's low crossing at 4.27. Second support is long-term support crossing at 4.19 1/4.

May Kansas City Wheat closed down a 1/4-cent at 4.36 1/2.

May Kansas City wheat closed fractionally lower on Thursday. The low-range close sets the stage for a steady to lower opening when Friday 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 4.49 1/4 are needed to confirm that a short-term low has been posted. If May renews the decline off December's high, weekly support crossing at 4.17 3/4 is the next downside target. First resistance is the 20-day moving average crossing at 4.49 1/4. Second resistance is the 50-day moving average crossing at 4.87. First support is Tuesday's low crossing at 4.18 1/4. Second support is weekly support crossing at 4.17 3/4.  

May Minneapolis 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 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 5.23 3/4 is the next downside target. Closes above the 50-day moving average crossing at 5.66 1/4 are needed to confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 5.66 1/4. Second resistance is February's high crossing at 5.81 1/4. First support is weekly support crossing at 5.44 1/2. Second support is weekly support crossing at 5.23 3/4. 

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

May soybeans were higher overnight. The mid-range overnight trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 9.09 3/4 are needed to temper the near-term bearish outlook. If May resumes the decline off February's high, the November 26^th reaction low crossing at 8.84 3/4 is the next downside target. First resistance is the 20-day moving average crossing at 9.09 3/4. Second resistance is the 50-day moving average crossing at 9.20 3/4. First support is Tuesday's low crossing at 8.87 3/4. Second support is the November-26^th low crossing at 8.84 3/4.

May soybean meal was steady to slightly higher overnight. The mid-range close sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 307.30 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 300.00 is the next downside target. First resistance is the 20-day moving average crossing at 307.30. Second resistance is the 50-day moving average crossing at 312.70. First support is Tuesday's low crossing at 300.30. Second support is psychological support crossing at 300.00.  

May soybean oil was 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 additional weakness is possible near-term. If May resumes the decline off February's high, the 62% retracement level of the November-February-rally crossing at 29.08 is the next downside target. Closes above the 20-day moving average crossing at 30.10 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 30.10. Second resistance is the reaction high crossing at 30.64. First support is the 50% retracement level of the November-February-rally crossing at 29.51. Second support is the 62% retracement level of the November-February-rally crossing at 29.08.

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

April hogs closed up $2.33 at $65.80. 

April hogs closed higher on Thursday. The high-range close sets the stage for a steady to higher opening when Friday'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 68.12 is the next upside target. Closes below the 20-day moving average crossing at 58.15 would temper the near-term bullish outlook. First resistance is the 62% retracement level of the November-February-decline crossing at 65.30. Second resistance is the 75% retracement level of the November-February-decline crossing at 68.12. First support is the 20-day moving average crossing at 58.15. Second support is February's low crossing at 52.25. 

April cattle closed up $0.73 at 127.40. 

April cattle closed higher on Thursday but remains below the 50-day moving average crossing at 127.49 confirming that a short-term top has been posted. The mid-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 this week's decline, the 25% retracement level of the 2018-2019-rally crossing at 125.41 is the next downside target. Closes above last-Friday's high crossing at 129.88 would temper the bearish outlook. First resistance is February's high crossing at 130.45. Second resistance is weekly resistance crossing at 134.55. First support is the 25% retracement level of the 2018-2019-rally crossing at 125.41. Second support the 38% retracement level of the 2018-2019-rally crossing at 122.76. 

April Feeder cattle closed up $0.53 at $144.65. 

April Feeder cattle closed higher on Thursday. The mid-range close sets the stage for a steady to higher opening when Friday's session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below last-Wednesday's low crossing at 143.50 would confirm that a short-term top has been posted. Closes above trading range resistance crossing at 147.83 would confirm an upside breakout of the trading range while opening the door for additional gains near-term. 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 Thursday. The low-range close sets the stage for a steady to lower opening on Friday. 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 9.88 are needed to confirm that a low has been posted. If May extends this winter's decline, weekly support crossing at 92.45 is the next downside target. 

May cocoa closed slightly lower on Thursday. The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are neutral to bullish signaling a short-term low has been posted. Closes above the 50-day moving average crossing at 22.87 are needed to confirm that a low has been posted. If May renews the decline off February's high, December's low crossing at 21.12 is the next downside target.          

May sugar closed slightly higher on Thursday. The low-range close set the stage for a steady to lower opening on Friday. 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 12.67 would confirm that a low has been posted. If May extends the aforementioned decline, January's low crossing at 11.82 is the next downside target.    

May cotton closed lower on Thursday as it consolidates some of the rally off February's low. The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If May extends the rally off February's low, January's high crossing at 76.14 is the next upside target. 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.