KEY EVENTS TO WATCH FOR:

Friday, April 12, 2019 

8:30 AM ET. March Import & Export Price Indexes

                       Import Prices (expected +0.5%; previous +0.6%)

                       Non-Petroleum Prices (previous +0.1%)

                       Petroleum Prices (previous +4.7%)

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

                       Mid-Mo Sentiment (expected 98.0; previous 97.8)

                       Mid-Mo Expectations (previous 89.2)

                       Mid-Mo Current Idx (previous 111.2)

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

The June NASDAQ 100 closed lower on Thursday as it consolidates some of the rally off December's low.The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are 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 7473.20 would confirm that a short-term top has been posted. First resistance is today's high crossing at 7661.00. Second resistance is last-September's high crossing at 7767.00. First support is the 20-day moving average crossing at 7473.20. Second support is the 50-day moving average crossing at 7242.98.  

The June S&P 500 closed lower due to profit taking on Thursday as it consolidated some of the rally off December's low. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are 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 20-day moving average crossing at 2853.47 would confirm that a short-term top has been posted. First resistance is Monday's high crossing at 2899.00. Second resistance is last-September's high crossing at 2957.90. First support is the 20-day moving low crossing at 2853.47. Second support is the 50-day moving average crossing at 2802.04.  

The Dow closed lower on Thursday as it consolidated some of the rally off March's low. The mid-range close sets the stage for a steady opening when Friday's night session begins trading. 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 25,758.74 would confirm that a short-term top has been posted. If the Dow extends the rally off March's low, last-October's high crossing at 26,951.81 is the next upside target. First resistance is last-Friday's high crossing at 26,487.57. Second resistance is last-October 2018 high crossing at 26,951.81. First support is the 20-day moving average crossing at 25,978.21. Second support is the 50-day moving average crossing at 25,758.74.

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June T-bonds closed down 6/32's at 147-29.

June T-bonds closed lower on Thursday. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below last-Friday's low crossing at 147-01 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 last-Friday's low crossing at 147-01. Second support is the 50-day moving average crossing at 146-16.         

June T-notes closed down 75-pts. At 123.190.

June T-notes closed lower on Thursday. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below last-Friday's low crossing at 123.085 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 last-Friday's low crossing at 123.085. Second support is the 50-day moving average crossing at 122.290.        

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May crude oil closed lower on Thursday but remains above the 62% retracement level of the October-December-decline crossing at 63.39. The low-range close sets the stage for a steady to lower opening when Thursday'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 61.42 are needed to confirm that a short-term top has been posted. First resistance is Tuesday's high crossing at 64.79. 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 61.42. Second support is the 50-day moving average crossing at 58.36.  

May heating oil closed lower on Thursday as it consolidates some of its recent gains. The mid-range close sets the stage for a steady to higher opening when Friday'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 extends 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 50-day moving average crossing at 198.27 would confirm that a short-term top has been posted. First resistance is Wednesday's high crossing at 208.97. Second resistance is the 62% retracement level of the October-December-decline crossing at 211.17. First support is the 50-day moving average crossing at 198.27. Second support is the reaction low crossing at 193.69. 

May unleaded gas closed lower on Thursday but remains above the 62% retracement level of the October-December-decline crossing at 200.45 as it extends the rally off December's low. 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 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 75% retracement level of the October-December-decline crossing at 212.54 is the next upside target. Closes below the 20-day moving average crossing at 193.22 are needed to confirm that a short-term top has been posted. First resistance is Wednesday's high crossing at 207.02. Second resistance is the 75% retracement level of the October-December-decline crossing at 212.54. First support is the 20-day moving average crossing at 193.22. Second support is the 50-day moving average crossing at 181.57.

May Henry natural gas closed lower on Thursday. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are turning neutral to 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 2.738 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 2.738. Second resistance is the 50-day moving average crossing at 2.751. First support is last-Friday'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 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 neutral to bearish signaling that sideways to lower prices are possible near-term.Closes below the 50-day moving average crossing at 96.16 would temper the near-term friendly outlook.If June extends the rally off March's low, March's high crossing at 97.16 is the next upside target. 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 96.43. Second support is the 50-day moving average crossing at 96.16.

The June Euro closed lower on Thursday but remains above 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 Friday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that a low might be in or is near. Closes above the 50-day moving average crossing at 114.00 would temper the near-term bearish outlook. If June extends the decline off March's high, the January 2017 low crossing at 110.16 is the next downside target. First resistance is the 50-day moving average crossing at 114.00. Second resistance is March's high crossing at 115.33. 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 Thursday. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are neutral signaling that sideways trading is 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 1.3245 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 Thursday.The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are 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, March's low crossing at 0.9970 is a potential downside target. Closes above the 20-day moving average crossing at 1.0098 would confirm that a low has been posted. First resistance is March's high crossing at 1.0190. Second resistance is trend line resistance crossing near 1.0208. 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 Thursday. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are 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 75.36 are needed to confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 75.36. 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 lower on Thursday. Stochastics and the RSI are oversold and are neutral to bearish signaling that additional weakness is possible near-term. The low-range close sets the stage for a steady to lower opening when Friday’s night session begins trading. If June extends the decline off March's low, December's low crossing at 0.0894 is the next downside target. Closes above the 50-day moving average crossing at 0.0908 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 December's low crossing at 0.0894.  

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June gold closed lower on Thursday due to a stronger US Dollar. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends the decline off February's high, the 38% retracement level of the August-February-rally crossing at 1273.10 is the next downside target. Closes above the 50-day moving average crossing at 1313.50 are needed to confirm that a low has been posted. First resistance is March's high crossing at 1330.80. Second resistance is February's high crossing at 1356.00. First support is last-Thursday's low crossing at 1284.90. Second support is the 38% retracement level of the August-February-rally crossing at 1273.10.

May silver closed sharply lower on Thursday. The low-range close set the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. 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. Closes above the 20-day moving average crossing at 15.218 are needed to confirm that a low has been posted. First resistance is the 20-day moving average crossing at 15.218. Second resistance is the 50-day moving average crossing at 15.471. 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 Thursday.The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at 288.93 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 288.93. Second support is the reaction low crossing at 283.45. 

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May Corn closed down 1 3/4-cents at 3.60. 

May corn closed lower on Thursday due to disappointing export sales data.Today's low-range close sets the stage for a steady to lower opening when Friday's night sessions begins trading. Stochastics and the RSI are diverging but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends the decline off March's high, psychological support crossing at 3.50 is the next downside target. Closes above the 20-day moving average crossing at 3.67 3/4 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 3.67 3/4. Second resistance is March's high crossing at 3.80 3/4. First support is Tuesday's low crossing at 3.55 1/4. Second support is psychological support crossing at 3.50.   

May wheat closed up 3 3/4-cents at 4.61 3/4. 

May wheat 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 poised to turn neutral to bullish with additional strength on Friday. Closes below the reaction low crossing at 4.52 1/2 would temper the near-term friendly outlook. If May resumes the rally off March's low, March's high crossing at 4.78 is the next upside target. First resistance is March's high crossing at 4.78. Second resistance is the reaction high crossing at 4.97 1/2. First support is the reaction low crossing at 4.52 1/2. Second support is March's low crossing at 4.27.    

May Kansas City Wheat closed up 4 1/4-cents at 4.30 1/2.

May Kansas City wheat closed higher on Thursday. The high-range close sets the stage for a steady to higher opening when Friday 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 4.56 1/4 is the next upside target. 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 reaction high crossing at 4.54. Second resistance is the 50-day moving average crossing at 4.56 1/4. 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 up 3-cents at 5.33 1/4. 

May Minneapolis wheat closed higher on Thursday. The mid-range close sets the stage for a steady to higher 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 May extends the decline off March's high, weekly support crossing at 5.15 1/4 is the next downside target. Closes above the 20-day moving average crossing at 5.50 1/4 are needed to confirm that a low has been posted. First resistance is the 10-day moving average crossing at 5.34 1/2. Second resistance is the 20-day moving average crossing at 5.50 1/4. First support is Monday's low crossing at 5.21. Second support is weekly support crossing at 5.15 1/4.    

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

May soybeans closed down 6 1/2-cents at 8.95 3/4

May soybeans closed lower on Thursday on disappointing export sales data.The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. 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. If May extends the rally off March's low, the 50-day moving average crossing at 9.06 3/4. First resistance is the reaction high crossing at 9.12. Second resistance is the reaction high crossing at 9.24 3/4. 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 $3.10 at 307.10. 

May soybean meal closed lower on Thursday. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are 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 the late-March's low crossing at 303.60. Second support is March's low crossing at 300.30.  

May soybean oil closed down 7-pts. at 28.91. 

May soybean oil closed lower on Thursday. The mid-range close sets the stage for a steady opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. 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. If May extends the rally off March's low, the 50-day moving average crossing at 29.74 is the next upside target. First resistance is the 50-day moving average crossing at 29.74. 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 $1.25 at $97.70. 

June 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 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 93.37 would confirm that a short-term top has been posted. If June extends the rally off February's low, weekly resistance crossing at 110.53 is the next upside target. First resistance is last-Friday'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 93.37. Second support is April's low crossing at 86.25. 

April cattle closed up $0.13 at 126.00. 

April cattle closed slightly higher on Thursday. 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 March's high, January's low crossing at 123.50 is the next downside target. Closes above 50-day moving average crossing at 127.78 are needed to confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 127.78. 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 up $0.25 at $145.43. 

April Feeder cattle closed higher on Thursday. The mid-range close sets the stage for a steady to lower 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. If April extends the decline off March's high, March's low crossing at 143.50 is the next downside target. Closes above last-Monday's high crossing at 147.20 would confirm that a low has been posted. 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 sharply lower on Thursday as it renewed the year's decline. The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends this winter's decline, weekly support crossing at 8.72 is the next downside target. Closes above the 50-day moving average crossing at 9.85 are needed to confirm that a low has been posted. 

May cocoa closed sharply lower on Thursday as it consolidates some of the rally off March's low. The low-range close sets the stage for a steady to lower opening on Friday. 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 22.95 would confirm that a short-term top has been posted.          

May sugar closed lower on Thursday as it extends this year's trading range. The low-range close set 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 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 lower on Thursday as it consolidated 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 bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 77.03 would confirm that a short-term top has been posted. 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.