KEY EVENTS TO WATCH FOR:

Monday, April 8, 2019 

8:30 AM ET. G24 Committee of the Whole

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

                       Total Orders, M/M% (previous +0.1%)

                       Orders, Ex-Defense, M/M% (previous +0.2%)

                       Orders, Ex-Transport, M/M% (previous -0.2%)

                       Durable Goods, M/M% (previous +0.4%)

                       Durable Goods, M/M% (previous +0.3%)

10:00 AM ET. March Employment Trends Index

                       ETI (previous 111.15)

                       ETI, Y/Y%

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

The June NASDAQ 100 closed higher on Friday as it extended the rally off December's low.The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off December's low, last-September high crossing at 7767.00 is the next upside target. Closes below the 20-day moving average crossing at 7399.73 would confirm that a short-term top has been posted. First resistance is Wednesday's high crossing at 7616.25. Second resistance is last-September's high crossing at 7767.00. First support is the 20-day moving average crossing at 7399.73. Second support is the 50-day moving average crossing at 7175.85.  

The June 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 Monday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off December's low, last-September's high crossing at 2957.90 is the next upside target. Closes below the reaction low crossing at 2792.40 would confirm that a short-term top has been posted. First resistance is today's high crossing at 2897.50. Second resistance is last-September's high crossing at 2957.90. First support is the 50-day moving low crossing at 2783.64. Second support is March's low crossing at 2728.00.  

The Dow closed higher on Friday as it extended the rally off March's low. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If the Dow extends the rally off March's low, last-October's high crossing at 26,951.81 is the next upside target. Closes below the 50-day moving average crossing at 25,640.11 would confirm that a short-term top has been posted. First resistance is today's high crossing at 26,487.57. Second resistance is last-October 2018 high crossing at 26,951.81. First support is the 50-day moving average crossing at 25,640.11. Second support is March's low crossing at 25,208.00.

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June T-bonds closed up 10/32's at 148-00.

June T-bonds posted a key reversal up with today's higher close as it consolidated some of the decline off March'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 neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 147-19 would confirm that a short-term top has been posted. If June renews the rally off March's low, weekly resistance crossing at 152-01 is the next upside target. First resistance is March's high crossing at 150-21. Second resistance is weekly resistance crossing at 152-01. First support is the 20-day moving average crossing at 147-19. Second support is the 50-day moving average crossing at 146-07.         

June T-notes closed up 20-pts. at 123.195.

June T-notes closed higher on Friday as it consolidates some of the decline off March'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 neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 123.167 would confirm that a short-term top has been posted. If June renews the rally off March's low. weekly resistance crossing at 125.265 is the next upside target. First resistance is March's high crossing at 124.310. Second resistance is weekly resistance crossing at 125.265. First support is the 20-day moving average crossing at 123.167. Second support is the 50-day moving average crossing at 122.242.        

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May crude oil closed higher on Friday and tested the 62% retracement level of the October-December-decline crossing at 63.39 as it extended the rally off December's low.The high-range close sets the stage for a steady to higher opening when Monday's night session begins. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher. If May extends the rally off December's low, the 75% retracement level of the October-December-decline crossing at 67.68 is the next upside target. Closes below the 20-day moving average crossing at 59.93 are needed to confirm that a short-term top has been posted. First resistance is the 62% retracement level of the October-December-decline crossing at 63.39. Second resistance is the 75% retracement level of the October-December-decline crossing at 67.68. First support is the 20-day moving average crossing at 59.93. Second support is the 50-day moving average crossing at 57.35.  

May heating oil closed higher on Friday while extending the February-March trading range. The high-range close sets the stage for a steady to higher opening when Monday's night trading session begins. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If May resumes the rally off December's low, the 62% retracement level of the October-December-decline crossing at 211.17 is the next upside target. Closes below the reaction low crossing at 193.69 would confirm that a short-term top has been posted. First resistance is today's high crossing at 204.71. Second resistance is the 62% retracement level of the October-December-decline crossing at 211.17. First support is the reaction low crossing at 193.69. Second support is the reaction low crossing at 181.97.

May unleaded gas closed higher on Friday as it extends the rally off December's low. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If May extends the rally off December's low, the 62% retracement level of the October-December-decline crossing at 200.45 is the next upside target. Closes below last-Thursday's low crossing at 181.47 are needed to confirm that a short-term top has been posted. First resistance is today's high crossing at 197.43. Second resistance is the 62% retracement level of the October-December-decline crossing at 200.45. First support is last-Thursday's low crossing at 181.47. Second support is the 50-day moving average crossing at 177.42.

May Henry natural gas closed higher on Friday as it consolidated some of the decline off March'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 but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends the decline off March's high, the reaction low crossing at 2.620 is the next downside target. Closes above the 20-day moving average crossing at 2.763 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 2.703. Second resistance is the 20-day moving average crossing at 2.763. First support is today's low crossing at 2.632. Second support is the reaction low crossing at 2.620.       

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The June 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 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, March's high crossing at 97.16 is the next upside target. Closes below the 50-day moving average crossing at 96.02 would temper the near-term friendly outlook.First resistance is March's high crossing at 97.16. Second resistance is weekly resistance crossing at 97.83. First support is the 20-day moving average crossing at 96.35. Second support is the 50-day moving average crossing at 96.02.

The June Euro closed lower on Friday and is testing support marked by the 87% retracement level of the 2016-2018 rally crossing at 112.62.The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends the decline off March's high, the January 2017 low crossing at 110.16 is the next downside target. Closes above the 50-day moving average crossing at 114.25 would temper the near-term bearish outlook. First resistance is March's high crossing at 115.33. Second resistance is the late-January high crossing at 116.46. First support is the 87% retracement level of the 2016-2018 rally crossing at 112.62. Second support is the January 2017 low crossing at 110.16.     

The June British Pound closed lower on Friday. The mid-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends the decline off March's high, February's low crossing at 1.2854 is the next downside target. Closes above last-Wednesday's high crossing at 1.3323 would confirm that a low has been posted. First resistance is March's high crossing at 1.3441. Second resistance is the 50% retracement level of the April-December-2018 decline crossing at 1.3603. First support is March's low crossing at 1.3026. Second support is February's low crossing at 1.2854.   

The June Swiss Franc closed lower on Friday as it extends the decline off March's high.The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends the aforementioned decline, March's low crossing at 0.9970 is a potential downside target. If June renews the rally off March's low, the September-January downtrend line crossing near 1.0215 is the next upside target. First resistance is last-Wednesday's high crossing at 1.0190. Second resistance is the September-January downtrend line crossing near 1.0215. First support is March's low crossing at 0.9970. Second support is weekly support crossing at 0.9902.

The June Canadian Dollar closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If June renews the decline off February's high, December's low crossing at 74.48 is the next downside target. Closes above the 50-day moving average crossing at 75.45 are needed to confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 75.45. Second resistance is the reaction high crossing at 76.46. First support is March's low crossing at 74.43. Second support is December's low crossing at 73.47.  

The June Japanese Yen closed slightly lower on Friday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. The mid-range close sets the stage for a steady to lower opening when Monday’s night session begins trading. If June extends the decline off March's low, the 87% retracement level of the November-January-rally crossing at 0.0900 is the next downside target. Closes above the 50-day moving average crossing at 0.0911 would temper the near-term bearish outlook. First resistance is March's high crossing at 0.0918. 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.  

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April gold closed slightly 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 oversold but are turning neutral to bullish signaling that a low might be in or is near. Closes above the 50-day moving average crossing at 1309.30 are needed to confirm that a low has been posted. If April extends the decline off February's high, the 50% retracement level of the August-February-rally crossing at 1273.20 is the next downside target. First resistance is March's high crossing at 1324.50. Second resistance is February's high crossing at 1349.80.First support is March's low crossing at 1280.80. Second support is the 50% retracement level of the August-February-rally crossing at 1273.20.

May silver closed lower on Friday. The low-range close set the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 15.281 are needed to confirm that a low has been posted. If May extends the decline off February's high, the 75% retracement level of the November-February-rally crossing at 14.644 is the next downside target. First resistance is the 20-day moving average crossing at 15.281. Second resistance is the 50-day moving average crossing at 15.561. 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 Friday.The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at 287.24 would confirm that a short-term top has been posted. If May extends the rally off March's low, the 50% retracement level of the April-December-2018 decline crossing at 296.76 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 50-day moving average crossing at 287.24. Second support is the reaction low crossing at 275.95. 

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

May Corn closed down 3 1/4-cents at 3.62. 

May corn closed lower on Friday.Today's low-range close sets the stage for a steady to lower opening when Monday's night sessions begins trading. Stochastics and the RSI are turning neutral to bullish signaling that a short-term low might be in or is near. Closes above the 20-day moving average crossing at 3.69 are needed to confirm that a short-term low has been posted. If May resumes last-Friday's decline, psychological support crossing at 3.50 is the next downside target. First resistance is the 20-day moving average crossing at 3.69. Second resistance is March's high crossing at 3.80 3/4. First support is last-Friday's low crossing at 3.56. Second support is psychological support crossing at 3.50.   

May wheat closed down 3-cents at 4.67 3/4. 

May wheat closed lower on Friday. The mid-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If May resumes the rally off March's low, the 50-day moving average crossing at 4.81 3/4 is the next upside target. Closes below the 20-day moving average crossing at 4.60 3/4 would temper the near-term friendly outlook. First resistance is last-Tuesday's high crossing at 4.78. Second resistance is the 50-day moving average crossing at 4.81 3/4. First support is the 20-day moving average crossing at 4.60 3/4. Second support is March's low crossing at 4.27.     

May Kansas City Wheat closed down 8 1/4-cents at 4.31 1/4.

May Kansas City wheat closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday 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 December's high, weekly support crossing at 4.17 3/4 is the next downside target. If May resumes the rally off March's low, the 50-day moving average crossing at 4.63 is the next upside target. First resistance is last-Tuesday's high crossing at 4.54. Second resistance is the 50-day moving average crossing at 4.63. First support is March's low crossing at 4.18 1/4. Second support is weekly support crossing at 4.17 3/4.  

May Minneapolis wheat closed down 4 3/4-cents at 5.21. 

May Minneapolis wheat closed lower for the fourth day in a row on Friday as it extends this year's decline. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends the decline off March's high, weekly support crossing at 5.15 1/4 is the next downside target. Closes above the 50-day moving average crossing at 5.61 are needed to confirm that a low has been posted. First resistance is March's high crossing at 5.76 3/4. Second resistance is February's high crossing at 5.81 1/4. First support is today's low crossing at 5.21. Second support is weekly support crossing at 5.15 1/4.    

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May soybeans closed down 7 3/4-cents at 8.98 3/4

May soybeans closed lower on Friday as it consolidated some of this week's gains off last-Friday's low.The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If May extends the rally off March's low, the 50-day moving average crossing at 9.13 1/4. If May renews the decline off February's high, the 75% retracement level of the 2018 rally crossing at 8.78 is the next downside target. First resistance is the reaction high crossing at 9.12. Second resistance is the 50-day moving average crossing at 9.13 1/4. First support is March's low crossing at 8.83. Second support is the 75% retracement level of the 2018 rally crossing at 8.78.

May soybean meal closed down $4.00 at 307.90. 

May soybean meal closed lower on Friday as it consolidated some of this week's gains. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If May renews the decline off March's high, March's low crossing at 300.30 is the next downside target. If May extends the rally off March's low, March's high crossing at 316.50 is the next upside target. First resistance is March's high crossing at 316.50. Second resistance is February's high crossing at 321.30. First support is March's low crossing at 303.60. Second support is March's low crossing at 300.30.   

May soybean oil closed down 6-pts. at 29.14. 

May soybean oil closed lower on Friday but remain above broken resistance marked by the 20-day moving average crossing at 29.12 confirming that a short-term low has been posted. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If May extends the rally off March's low, the 50-day moving average crossing at 29.89 is the next upside target. If May renews the decline off February's high, the 87% retracement level of the November-February-rally crossing at 28.17 is the next downside target. First resistance is the 50-day moving average crossing at 29.89. Second resistance is the reaction high crossing at 30.08. First support is March's low crossing at 28.34. Second support is the 87% retracement level of the November-February-rally crossing at 28.17.    

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June hogs closed up $1.13 at $98.97. 

June hogs closed higher for the fourth day in a row on Friday as it extends the rebound off Monday's low. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that additional strength is possible near-term. If June extends the rally off February's low, weekly resistance crossing at 110.53 is the next upside target. Closes below the 20-day moving average crossing at 90.23 would confirm that a short-term top has been posted. First resistance is today's high crossing at 99.83. Second resistance is weekly resistance crossing at 110.53. First support is the 20-day moving average crossing at 90.23. Second support is the 50-day moving average crossing at 81.64. 

April cattle closed down $1.50 at 126.05. 

April cattle closed lower on Friday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If April resumes the decline off March's high, January's low crossing at 123.50 is the next downside target. Closes above 50-day moving average crossing at 127.91 are needed to confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 127.91. Second resistance is March's high crossing at 130.45. First support is the 25% retracement level of the 2018-2019-rally crossing at 125.45. Second support the 38% retracement level of the 2018-2019-rally crossing at 122.80. 

April Feeder cattle closed down $0.18 at $146.15. 

April Feeder cattle closed lower on Friday. The mid-range close sets the stage for a steady opening when Monday's session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above Monday's high crossing at 147.20 would confirm that a low has been posted. If April extends the decline off March's high, March's low crossing at 143.50 is the next downside target. First resistance is March's high crossing at 150.80. Second resistance is last-October's high crossing at 155.70. First support is March's low crossing at 143.50. Second support is January's low crossing at 142.62.  

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

May coffee closed lower on Friday. The low-range close sets the stage for a steady to lower opening on Monday. 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 9.51 are needed to confirm that a low has been posted. If May extends this winter's decline, weekly support crossing at 9.12 is the next downside target.

May cocoa closed slightly lower on Friday as it consolidated some of the rally off March's low. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are overbought but remain neutral to bullish signaling sideways to higher prices are possible near-term. If May extends the rally off March's low, December's high crossing at 24.64 is the next upside target. Closes below the 20-day moving average crossing at 22.52 would confirm that a short-term top has been posted.          

May sugar closed higher on Friday as it extends this year's trading range. The mid-range close set the stage for a steady to higher opening on Monday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If May resumes the rally off March's low, February's high crossing at 13.42 is the next upside target. May renews the decline off February's high, January's low crossing at 11.82 is the next downside target. 

May cotton closed higher on Friday as it extends the rally off February's low. The high-range close sets the stage for a steady to higher opening on Monday. 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, the 38% retracement level of the 2018-2019-decline crossing at 79.88 is the next upside target. Closes below the 20-day moving average crossing at 76.35 would confirm that a short-term top has been posted.