KEY EVENTS TO WATCH FOR:

Tuesday, April 16, 2019  

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

                       Chain Store Sales, W/W% (previous +3.5%)

                       Chain Store Sales, M/M% (previous +1.6%)

8:55 AM ET. Johnson Redbook Retail Sales Index

                       Ret Sales Mo-to-Date, M/M%  (previous +0.1%)

                       Ret Sales Mo-to-Date, Y/Y% (previous +4.7%)

                       Latest Wk, Y/Y% (previous +4.8%)

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

                       Industrial Production, M/M% (expected +0.2%; previous +0.1%)

                       Capacity Utilization% (expected 79.2%; previous 78.2%)

                       Capacity Utilization, Net Chg (Pts.) (previous -0.1)

10:00 AM ET. April NAHB Housing Market Index

                       Housing Mkt Idx (expected 63; previous 62)

4:30 PM ET. API Weekly Statistical Bulletin

                       Crude Stocks, Net Chg (Bbls) (previous +4.1M)

                       Gasoline Stocks, Net Chg (Bbls) (previous -7.1M)

                       Distillate Stocks, Net Chg (Bbls) (previous -2.4M)

Wednesday, April 17, 2019  

7:00 AM ET. MBA Weekly Mortgage Applications Survey

                       Composite Idx (previous 475.6)

                       Composite Idx, W/W% (previous -5.6%)

                       Purchase Idx-SA (previous 278.1)

                       Purchase Idx-SA, W/W% (previous +0.5%)

                       Refinance Idx (previous 1582.6)

                       Refinance Idx, W/W% (previous -11.4%)

8:30 AM ET. February U.S. International Trade in Goods & Services

                       Trade Balance (USD) (expected -53.7B; previous -51.15B)

                       Exports (USD) (previous 207.34B)

                       Exports, M/M% (previous +0.9%)

                       Imports (USD) (previous 258.49B)

                       Imports, M/M% (previous -2.6%)

10:00 AM ET. February Monthly Wholesale Trade

                       Inventories, M/M% (expected +0.5%; previous +1.2%)

10:30 AM ET. EIA Weekly Petroleum Status Report

                       Crude Oil Stocks (Bbl) (previous 456.55M)

                       Crude Oil Stocks, Net Chg (Bbl) (previous +7.029M)

                       Gasoline Stocks (Bbl) (previous 229.129M)

                       Gasoline Stocks, Net Chg (Bbl) (previous -7.71M)

                       Distillate Stocks (Bbl) (previous 128.053M)

                       Distillate Stocks, Net Chg (Bbl) (previous -0.116M)

                       Refinery Usage (previous 87.5%)

                       Total Prod Supplied (Bbl/day) (previous 20.316M)

                       Total Prod Supplied, Net Chg (Bbl/day) (previous +0.318M)

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

Thursday, April 18, 2019   

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

                       Jobless Claims (expected 206K; previous 196K)

                       Jobless Claims, Net Chg (previous -8K)

                       Continuing Claims (previous 1713000)

                       Continuing Claims, Net Chg (previous -13K)

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

                       Corn (Metric Tons) (previous 548.0K)

                       Soybeans (Metric Tons) (previous 280.4K)

                       Wheat (Metric Tons) (previous 474.4K)

8:30 AM ET. April Philadelphia Fed Business Outlook Survey

                       Business Activity (expected 11.0; previous 13.7)

                       Prices Paid (previous 19.7)

                       Employment (previous 9.6)

                       New Orders (previous 1.9)

                       Prices Received (previous 24.7)

                       Delivery Times (previous 8.8)

                       Inventories (previous 17.2)

                       Shipments (previous 20.0)

8:30 AM ET. March Advance Monthly Sales for Retail & Food Services

                       Overall Sales-SA, M/M% (expected +0.9%; previous -0.2%)

                       Sales, Ex-Auto, M/M% (expected +0.7%; previous -0.4%)

                       Sales, Ex-Auto & Gas, M/M% (previous -0.6%)

9:45 AM ET. April US Flash Services PMI

                       PMI, Services (previous 54.8)

9:45 AM ET. April US Flash Manufacturing PMI

                       PMI, Mfg (expected 52.8; previous 52.5)

9:45 AM ET. Bloomberg Consumer Comfort Index

10:00 AM ET. February Manufacturing & Trade: Inventories & Sales

                       Total Inventories (expected +0.4%; previous +0.8%)

10:00 AM ET. March Leading Indicators

                       Leading Index, M/M% (expected +0.4%; previous +0.2%)

                       Leading Index (previous 111.5)

                       Coincident Index, M/M% (previous +0.2%)

                       Lagging Index, M/M% (previous +0%)

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

                       Working Gas In Storage (Cbf) (previous 1155B)

                       Working Gas In Storage, Net Chg (Cbf) (previous +25B)

2:00 PM ET. SEC Closed Meeting

4:30 PM ET. Federal Discount Window Borrowings

4:30 PM ET. Foreign Central Bank Holdings

4:30 PM ET. Money Stock Measures

Friday, April 19, 2019  

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

                       Total Starts (expected 1.22M; previous 1.162M)

                       Housing Starts, M/M% (expected +5.0%; previous -8.7%)

                       Building Permits (expected 1.3M; previous 1.296M)

                       Building Permits, M/M% (expected +0.3%; previous -1.6%)

8:30 AM ET. Annual   Advance GDP by Industry

10:00 AM ET. March Regional & State Employment & Unemployment

  N/A               Marianas: Good Friday

  N/A               U.S. stock markets closed on Good Friday

Monday, April 22, 2019  

8:30 AM ET. March CFNAI Chicago Fed National Activity Index

                       NAI (previous -0.29)

                       NAI, 3-mo Moving Avg (previous -0.18)

10:00 AM ET. March Existing Home Sales

                       Existing Sales (previous 5.51M)

                       Existing Sales, M/M% (previous +11.8%)

                       Unsold Homes Month's Supply (previous 3.5)

                       Median Price (USD) (previous 249500)

                       Median Home Price, Y/Y% (previous +3.6%)

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

The STOCK INDEXES:The June NASDAQ 100 was higher overnight as it extends the rally off December'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 June extends the rally off December's low, last-October's high crossing at 7767.00 is the next upside target. Closes below the 20-day moving average crossing at 7517.88 would confirm that a short-term top has been posted. First resistance is the overnight high crossing at 7686.25. Second resistance is the October 3^rd 2018 high crossing at 7767.00. First support is the 20-day moving average crossing at 7517.88. Second support is the 50-day moving average low crossing at 7286.06.  

The June S&P 500 was higher overnight as it extends the rally off December's low. The high-range overnight trade sets the stage for a steady to higher opening when the day session begins trading later this morning. 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 2957.90 is the next upside target. Closes below the 20-day moving average crossing at 2865.15 would confirm that a short-term top has been posted. First resistance is the overnight high crossing at 2920.10. Second resistance is last-September's high crossing at 2957.90. First support is the 20-day moving average crossing at 2865.15. Second support is the 50-day moving average crossing at 2813.96.

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

INTEREST RATES: June T-bonds were lower overnight as they extend the decline off March's high. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at 146-18 would open the door for additional weakness near-term. Closes above the 20-day moving average crossing at 148-04 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 148-04. Second resistance is March's high crossing at 150-21. First support is the 50-day moving average crossing at 146-18. Second support is the reaction low crossing at 145-03.

June T-notes were steady to slightly lower overnight. 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 50-day moving average crossing at 122.300 then the reaction low crossing at 122.120 are the next downside targets. Closes above the 20-day moving average crossing at 123.236 would confirm that a short-term low has been posted.First resistance is the 20-day moving average crossing at 123.236. Second resistance is March's high crossing at 124.310. First support is the 50-day moving average crossing at 122.300. Second resistance is the reaction low crossing at 122.120.

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

May crude oil was steady to slightly higher overnight as it consolidates above the 62% retracement level of the October-December-decline crossing at 63.39. 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 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 61.85 are needed to confirm that a short-term top has been posted. If May resumes the rally off December's low, the 75% retracement level of the October-December-decline crossing at 67.68 is the next upside target. First resistance is last-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 61.85. Second support is the 50-day moving average crossing at 58.67.  

May heating oil was slightly 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 and are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the 50-day moving average crossing at 199.30 would confirm that a short-term top has been posted. 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. First resistance is the 62% retracement level of the October-December-decline crossing at 211.17. Second resistance is the 75% retracement level of the October-December-decline crossing at 221.89. First support is the 20-day moving average crossing at 201.93. Second support is the 50-day moving average crossing at 199.30. 

May unleaded gas was lower overnight as it consolidates some of the rally off December's low. Stochastics and the RSI are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 194.56 would confirm that a short-term top has been posted. If May resumes the rally off December's low, the 75% retracement level of the October-December-decline crossing at 212.54 is the next upside target. First resistance is last-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 10-day moving average crossing at 199.98. Second support is the 20-day moving average crossing at 194.56. 

May Henry natural gas was steady to slightly higher overnight as it consolidates some of Monday's sharp decline. 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 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, January's low crossing at 2.579 is the next downside target. Closes above the 20-day moving average crossing at 2.704 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 2.704. Second resistance is the 50-day moving average crossing at 2.745. First support is the overnight low crossing at 2.583. Second support is January's low crossing at 2.579.

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

CURRENCIES:The June Dollar was higher overnight. 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 96.26 are needed to confirm that a double top has been posted. If June renews 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 96.52. Second support is the 50-day moving average crossing at 96.26.

The June Euro was steady to slightly 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 bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off April's low, the 50-day moving average crossing at 113.92 is the next upside target. If June resumes 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 113.92. Second resistance is March's high crossing at 115.35. 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 was lower overnight. 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 turning neutral to bullish hinting that a low might be in or is near. Closes above the 50-day moving average crossing at 1.3160 would temper the near-term bearish outlook. Closes below March's low crossing at 1.3026 would confirm that a short-term top has been posted. First resistance is March's high crossing at 1.3441. Second resistance is the 50% retracement level of the 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 was lower overnight as it extends the decline off March's high. 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 the next downside target. Closes above the 20-day moving average crossing at 1.0089 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 1.0089. Second resistance is March's high crossing at 1.0191. First support is the overnight low crossing at 0.9998. Second support is March's low crossing at 0.9970. 

The June Canadian Dollar was slightly lower overnight as it extends the March-April symmetrical triangle. Stochastics and the RSI are neutral to bearish signaling sideways to lower prices are possible near-term. If June renews the decline off February's high, December's low crossing at 73.47 is the next likely downside target. Closes above the 50-day moving average crossing at 75.30 are needed to confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 75.30. Second resistance is the late-February 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 was steady to slightly higher overnight as it consolidates some of last-Friday's decline. 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 March's high, December's low crossing at 0.0894 is the next downside target. Closes above the 50-day moving average crossing at 0.0907 would temper the near-term bearish outlook. First resistance is the reaction high crossing at 0.0907. Second resistance is March's high crossing at 0.0918. First support is Monday's low crossing at 0.0898. Second support is December's low crossing at 0.0894.

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

PRECIOUS METALS: June gold was lower overnight as it extends last week's decline. 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, 38% retracement level of the September-February-rally crossing at 1273.10 is the next downside target. Closes above the 50-day moving average crossing at 1312.00 would confirm that a short-term low has been posted. First resistance is last-Wednesday's high crossing at 1314.70. Second resistance is March's high crossing at 1330.80. First support is April's low crossing at 1284.90. Second support is the 38% retracement level of the September-February-rally crossing at 1273.10.

May silver was lower overnight as it extends last week's decline. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If May resumes the decline off February's high, the 75% retracement level of the November-January-rally crossing at 14.644 is the next downside target. Closes above the 20-day moving average crossing at 15.175 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 15.175. Second resistance is the 50-day moving average crossing at 15.429. First support is Monday's low crossing at 14.795. Second support is the 75% retracement level of the November-January-rally crossing at 14.644.

May copper was slightly lower overnight while extending the February-April trading range. The low-range trade sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are neutral signaling that sideways trading is possible near-term. Closes below the 50-day moving average crossing at 289.58 would open the door for additional weakness near-term. 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 the 50-day moving average crossing at 289.58. Second support is March's low crossing at 283.45.   

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

May corn was lower overnight. The low-range trade overnight sets the stage for a steady to lower opening when the day 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 3.66 1/4 would confirm that a short-term low has been posted. If May resumes this year's decline, psychological support crossing at 3.50 is the next likely downside target. First resistance is the 20-day moving average crossing at 3.66 1/4. Second resistance is March's high crossing at 3.80 3/4. First support is last-Tuesday's low crossing at 3.55 1/4. Second support is psychological support crossing at 3.50.  

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 turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the reaction low crossing at 4.52 1/2 would confirm that a short-term top has been posted. If May resumes the rally off March's low, the reaction high crossing at 4.97 1/2 is the next upside target. First resistance is the reaction high crossing at 4.75 1/2. 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 down 7-cents at 4.27 1/4.

May Kansas City wheat closed lower on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday night session begins trading. Stochastics and the RSI are 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 4.52 3/4 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 4.52 3/4. 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 was steady to fractionally 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 turning bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 5.46 are needed to confirm that a short-term low has been posted. If May resumes the decline off March's high, weekly support crossing at 5.15 1/4 is the next downside target. First resistance is last-Thursday's high crossing at 5.38 3/4. Second resistance is the 20-day moving average crossing at 5.46. First support is April'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 were 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 signaling that sideways trading possible near-term. If May renews the rally off March's low, the 50-day moving average crossing at 9.08 1/4 is the next upside target. If May resumes the decline off February's high, the 75% retracement level of the September-December 2018 rally crossing at 8.78 is the next downside target. First resistance is the 50-day moving average crossing at 9.08 1/4. 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 September-December 2018 rally crossing at 8.78.

May soybean meal was lower overnight. The low-range 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. If May extends the rally off the late-March low, March's high crossing at 316.50 is the next upside target. If May resumes the decline off March's high, March's low crossing at 300.30 is the next downside 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 low crossing at 303.60. Second support is March's low crossing at 300.30.   

May soybean oil was lower overnight as it extends Monday's downside breakout of a small symmetrical triangle. 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 February's high, the 87% retracement level of the November-February-rally crossing at 28.17 is the next downside target. If May resumes the rally off March's low, the 50-day moving average crossing at 29.68 is the next upside target. First resistance is the 50-day moving average crossing at 29.68. Second resistance is the reaction high crossing at 30.64. 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.

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

June hogs closed down $0.20 at $98.30. 

June hogs closed lower on Monday. The mid-range close sets the stage for a steady opening when Tuesday's night session begins trading. Stochastics and the RSI are overbought, but remain neutral to bullish signaling that sideways to higher prices are 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 94.49 would confirm that a short-term top has been posted. First resistance is April'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 94.49. Second support is April's low crossing at 86.25. 

April cattle closed down $0.25 at 126.30. 

April cattle closed lower on Monday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above 50-day moving average crossing at 127.78 are needed to confirm that a short-term low has been posted. If April extends the decline off March's high, January's low crossing at 123.50 is the next downside target. 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. 

May Feeder cattle closed up $053 at $151.03. 

April Feeder cattle closed higher on Monday. The high-range close sets the stage for a steady to higher opening when Tuesday's 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 151.43 would renew the rally off April's low. If April resumes the decline off March's high, March's low crossing at 145.18 is the next downside target. First resistance is March's high crossing at 155.30. Second resistance is last-October's high crossing at 155.35. First support is April's low crossing at 146.60. Second support is March's low crossing at 145.18. 

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

May coffee closed higher on Monday as it consolidates some of this year's decline. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends this winter's decline, weekly support crossing at 8.72 is the next downside target. Closes above the 50-day moving average crossing at 9.78 are needed to confirm that a low has been posted. 

May cocoa closed slightly lower on Monday. The mid-range close sets the stage for a steady to lower opening on Tuesday. 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 23.17 would confirm that a short-term top has been posted.          

May sugar closed lower on Monday as it extends this year's trading range. The low-range close set the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If May 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 Monday as it extends the decline off last-Tuesday's high. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Today's close below the 20-day moving average crossing at 77.22 confirms 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.