Monday, April 16, 2018
8:30 AM ET. March Advance Monthly Sales for Retail & Food Services
Overall Sales-SA, M/M% (previous -0.1%)
Sales, Ex-Auto, M/M% (previous +0.2%)
Sales, Ex-Auto & Gas, M/M% (previous +0.3%)
8:30 AM ET. G24 Committee of the Whole
8:30 AM ET. April Empire State Manufacturing Survey
Mfg Idx (previous 22.5)
Employment Idx (previous 9.4)
New Orders Idx (previous 16.8)
Prices Received (previous 22.4)
10:00 AM ET. February Manufacturing & Trade: Inventories & Sales
Total Inventories (previous +0.6%)
10:00 AM ET. April NAHB Housing Market Index
Housing Mkt Idx (previous 70)
4:00 PM ET. February Treasury International Capital Data
N/A Emancipation Day in Washington, DC
N/A Patriot's Day in Massachusetts and Maine
The STOCK INDEXES http://quotes.ino.com/exchanges/?c=indexes"
The STOCK INDEXES:The June NASDAQ 100 was higher overnight as it extends the rally off April's low. Stochastics and the RSI remain neutral to bullish signaling that sideways to higher prices are possible near-term. If the aforementioned rally continues, the 50-day moving average crossing at 6750.77 is the next upside target. Closes below the 10-day moving average crossing at 6582.88 would confirm that a short-term top has been posted while opening the door for a possible test of February's low crossing at 6192.50 later this spring. First resistance is the 50-day moving average crossing at 6750.77. Second resistance is the reaction high crossing at 6849.25. First support is April's low crossing at 6306.75. Second support is February's low crossing at 6192.50.
The June S&P 500 was higher overnight as it extends the rally off April's low. Stochastics and the RSI are becoming overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends this month's rally, the 50-day moving average crossing at 2689.35 is the next upside target. Closes below the 10-day moving average crossing at 2643.25 would confirm that a short-term top has likely been posted. First resistance is the 50-day moving average crossing at 2689.35. Second resistance is the reaction high crossing at 2741.00. First support is April's low crossing at 2554.00. Second support isthe 38% retracement level of the 2016-2018-rally crossing at 2533.51.
INTEREST RATES http://quotes.ino.com/ex changes/?c=interest"
INTEREST RATES: June T-bonds were lower overnight. 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 145-10 would confirm that a short-term top has been posted. If June renews the rally off February's low, the 50% retracement level of the December-February-decline crossing at 147-14 is the next upside target. First resistance is April's high crossing at 147-03. Second resistance is the 50% retracement level of the December-February-decline crossing at 147-14. First support is the 20-day moving average crossing at 145-10. Second support is the 50-day moving average crossing at 144-07.
June T-notes were lower overnight as it extends the decline off April's high. Stochastics and the RSI are becoming 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 120.126 would open the door for additional weakness near-term. If June resumes the rally off February's low, the reaction high crossing at 122.020 is the next upside target. First resistance is April's high crossing at 121.120. Second resistance is the reaction high crossing at 122.020. First support is the 50-day moving average crossing at 120.126. Second support is March's low crossing at 119.220.
ENERGY MARKETS http://quotes.ino.com/ex changes/?c=energy"
ENERGY MARKETS: MayNymex crude oil was lower overnight as it consolidated some of the rally off April's low.Stochastics and the RSI are overbought, diverging but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If May extends the aforementioned rally, the 62% retracement level of the 2014-2016-decline crossing at 70.46 is the next upside target. Closes below the 20-day moving average crossing at 64.62 would confirm that a short-term top has been posted. First resistance is last Friday's high crossing at 67.76. Second resistance is the 62% retracement level of the 2014-2016-decline crossing at 70.46. First support is the 20-day moving average crossing at 64.62. Second support is April's low crossing at 61.81.
May heating oil was lower overnight as it consolidates some of the rally off April's low. Stochastics and the RSI are overbought, diverging 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 201.02 would confirm that a short-term top has been posted. If May extends the rally off March's low, the February-2015-high crossing at 216.58 is the next upside target. First resistance is last Wednesday's high crossing at 212.27. Second resistance is the February-2015-high crossing at 216.58. First support is the 10-day moving average crossing at 203.10. Second support is the 20-day moving average crossing at 201.02.
May unleaded gas was lower overnight as it consolidates some of this month's gains. Stochastics and the RSI are overbought, diverging 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 200.73 would confirm that a short-term top has been posted. If May extends the rally off March's low, January's high crossing at 210.12 is the next upside target. First resistance is the reaction high crossing at 208.89. Second resistance is January's high crossing at 210.12. First support is the 20-day moving average crossing at 200.73. Second support is the 50-day moving average crossing at 197.07.
May Henry natural gas 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 reaction high crossing at 2.764 are needed to confirm that a short-term low has been posted. If May renews the decline off April's high, March's low crossing at 2.610 is the next downside target. First resistance is the reaction high crossing at 2.764. Second resistance is March's high crossing at 2.831. First support is March's low crossing at 2.610. Second support is February's low crossing at 2.600.
CURRENCIEShttp://quotes.ino.com/ex changes/?c=currencies"
CURRENCIES:The June Dollar was lower overnight. Stochastics and the RSI are neutral signaling that sideways trading is possible near-term. Closes above the 10-day moving average crossing at 89.59 would temper the near-term bearish outlook. If June extends the aforementioned decline, March's low crossing at 88.53 is the next downside target. First resistance is the 38% retracement level of the November-February-decline crossing at 90.35. Second resistance is the 50% retracement level of the November-February-decline crossing at 91.13. First support is March's low crossing at 88.53. Second support is February's low crossing at 87.93.
The June Euro was slightly higher overnight. Stochastics and the RSI are neutral signaling that sideways trading is possible near-term. If June extends the rally off last week's low March's high crossing 125.53 is the next upside target. If June renews the decline off March's high, March's low crossing at 122.54 is the next downside target. First resistance is March's high crossing at 125.53. Second resistance is February's high crossing at 126.58. First support is March's low crossing at 122.54. Second support is the 50% retracement level of the November-February-decline crossing at 121.97.
The June British Pound was higher overnight as it extends the rally off April'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 April's low, January's high crossing at 1.4404 is the next upside target. Closes below the 20-day moving average crossing at 1.4165 would confirm that a short-term top has been posted. First resistance is the reaction high crossing at 1.4352. Second high is January's high crossing at 1.4404. First support is the 20-day moving average crossing at 1.4165. Second support is April's low crossing at 1.4007.
The June Swiss Franc were slightly higher overnight. Stochastics and the RSI are oversold, diverging but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June resumes the decline off February's high, the 75% retracement level of the November-February-rally crossing at 1.0344 is the next downside target. Closes above the 20-day moving average crossing at 1.0532 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 1.0532. Second resistance is the 50-day moving average crossing at 1.0661. First support is last Thursday's low crossing at 1.0419. Second support is the 75% retracement level of the November-February-rally crossing at 1.0344.
The June Canadian Dollar was steady to slightly higher overnight. 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, the reaction high crossing at 80.45 is the next upside target. Closes below the 20-day moving average crossing at 78.21 would confirm that a short-term top has been posted.First resistance is the reaction high crossing at 80.45. Second resistance is January's high crossing at 81.75. First support is the 10-day moving average crossing at 78.97. Second support is the 20-day moving average crossing at 78.21.
The June Japanese Yen was steady to slightly higher 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% retracement level of the November-March-rally crossing at 0.9237 is the next downside target. Closes above the 20-day moving average crossing at 0.9441 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 0.9441. Second resistance is March's high crossing at 0.9615. First support is the 38% retracement level of the November-March-rally crossing at 0.9327. Second support is the 50% retracement level of the November-March-rally crossing at 0.9237.
PRECIOUS METALS http://quotes.ino.com/ex changes/?c=metals"
PRECIOUS METALS: June gold was slightly lower 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 1336.30 are needed to confirm that a short-term top has been posted. If June resumes the rally off March's low, January's high crossing at 1375.50 is the next upside target. First resistance is February's high crossing at 1369.60. Second resistance is January's high crossing at 1375.50. First support is the 38% retracement level of the December-January-rally crossing at 1326.70. Second support is the 50% retracement level of the December-January-rally crossing at 1311.50.
May silver was slightly lower overnight. 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 16.463 would confirm that a short-term top has been posted. Closes above the reaction high crossing at 17.025 are needed to confirm an upside breakout of a two-month old trading range. First resistance is the reaction high crossing at 17.025. Second resistance is February's high crossing at 17.455. First support is the 20-day moving average crossing at 16.463. Second support is March's low crossing at 16.100.
May copper was higher overnight as it consolidates some of last Thursday's decline. The high-range trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 304.79 would confirm that a short-term top has been posted. If May extends the rally off March's low, the reaction high crossing at 319.20 is the next upside target. First resistance is the reaction high crossing at 319.20. Second resistance is February's high crossing at 329.05. First support is the 20-day moving average crossing at 307.79. Second support is April's low crossing at 297.00.
GRAINS http://quotes.ino.com/ex changes/?c=grains
May corn was lower overnight as it consolidates some of the rally off March's low. The high-range trade overnight sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI have turned neutral to bearish signaling that a short-term top might be in or is near. Closes below the 50-day moving average crossing at 3.80 1/2 would confirm that a short-term top has been posted. If May resumes the rally off March's low, March's high crossing at 3.95 1/4 is the next upside target. First resistance is March's high crossing at 3.95 1/4. Second resistance is the 62% retracement level of the July-January-decline crossing at 4.01 is the next upside target. First support is the 20-day moving average crossing at 3.82 1/4 Second support is the 50-day moving average crossing at 3.80 1/2.
May wheat lower overnight as it extends the decline off April's high. 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 4.62 3/4 are needed to confirm that a short-term top has been posted. If May resumes the rally off March's low, the reaction high crossing at 4.98 is the next upside target. First resistance is April's high crossing at 4.94. Second resistance is the reaction high crossing at 4.98. First support is the 20-day moving average crossing at 4.62 3/4. Second support is March's low crossing at 4.41 1/2.
May Kansas City Wheat closed down 11 3/4-cents at 4.95 3/4.
May Kansas City wheat closed lower on Friday as it extended this week's decline. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI have turned neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 4.86 1/4 would confirm that a short-term top has been posted. If May resumes the rally off March's low, the reaction high crossing at 5.33 1/4 is the next upside target. First resistance is the reaction high crossing at 5.33 1/4. Second resistance is March's high crossing at 5.48 1/2. First support is the 20-day moving average crossing at 4.86 1/2. Second support is March's low crossing at 4.56.
May Minneapolis wheat was lower overnight as it consolidates some of the rally off April's low. 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 turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 5.99 3/4 would confirm that a short-term top has been posted. If May renews this month's rally, March's high crossing at 6.36 is the next upside target. First resistance is last Tuesday's high crossing at 6.34. Second resistance is March's high crossing at 6.36. First support is last Monday's gap crossing at 6.08 1/4. Second support is the 20-day moving average crossing at 5.99 3/4.
SOYBEAN COMPLEX? http://quotes.ino.com/ex?changes/?c=grains "
May soybeans were 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If May extends the rally off April's low, March's high crossing at 10.82 1/2 is the next upside target. Closes below the 50-day moving average crossing at 10.35 1/4 would confirm that a short-term top has been posted. First resistance is last Friday's high crossing at 10.67 1/4. Second resistance is March's high crossing at 10.82 1/2. First support is the 50-day moving average crossing at 10.35 3/4. Second support is the 75% retracement level of the January-March-rally crossing at 9.87 1/4.
May soybean meal 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 neutral to bullish signaling that sideways to higher prices are possible near-term. If May renews the rally off March's low, March's high crossing at 404.00 is the next upside target. Closes below the 50-day moving average crossing at 373.50 would confirm that a short-term top has been posted. First resistance is last Monday's high crossing at 393.30. Second resistance is March's high crossing at 404.00. First support is the 50-day moving average crossing at 373.50. Second support is the 50% retracement level of the January-March-rally crossing at 359.00.
May soybean oil was lower overnight. The low-range overnight trade sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If May resumes the decline off November's high, the January-2016 low crossing at 30.67 is the next downside target. Closes above April's high crossing at 32.73 are needed to confirm that a short-term low has been posted. First resistance is April's high crossing at 32.73. Second resistance is the reaction high crossing at 32.96. First support is the overnight low crossing at 31.28. Second support is the January-2016-low crossing at 30.67.
LIVESTOCKhttp://quotes.ino.com/exchanges/?c=livestock
June hogs closed up $0.40 at $77.65.
June hogs closed higher on Friday as it extends the rally off April's low. The high-range close sets the stage for a steady to higher opening when Monday's 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 aforementioned rally, the 50-day moving average crossing at 78.36 is the next upside target. If Closes below the 10-day moving average crossing at 74.71 would temper the near-term friendly outlook. First resistance is today's high crossing at 78.10. Second resistance is the 50-day moving average crossing at 78.36. First support is April's low crossing at 70.25. Second support is weekly support crossing at 69.77.
June cattle closed down $0.05 at 103.65.
June cattle closed lower 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 neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 104.77 are needed to confirm that a short-term low has been posted. If June resumes the decline off February's high, the March 2017 low crossing at 96.40 is the next downside target. First resistance is the 20-day moving average crossing at 104.77. Second resistance is the 50-day moving average crossing at 111.41. First support is the 87% retracement level of 2017's rally crossing at 99.63. Second support is the March 2017 low crossing at 96.40.
May Feeder cattle closed up $0.40 at $140.38.
May Feeder cattle closed higher on Friday as it extends the rally off April's low. The high-range close sets the stage for a steady to higher opening when Monday's 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 April's low, the 50-day moving average crossing at 143.73 is the next upside target. If May resumes this year's decline, weekly support crossing at 126.09 is the next downside target. First resistance is today's high crossing at 141.38. Second resistance is the 50-day moving average crossing at 143.73. First support is Tuesday's low crossing at 134.33. Second support is April's low crossing at 128.88.
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 signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 12.04 are needed to confirm that a low has been posted. If May renews the decline off January's high, weekly support crossing at 11.55 is the next downside target.
May cocoa closed higher on Friday as it extends this week's rally. 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 renews the rally off December's low, the 75% retracement level of the 2016-2017-decline crossing at 27.55 is the next upside target. If May extends the decline off April's high, the 50-day moving average crossing at 23.55 is the next downside target.
May sugar closed slightly higher on Friday. The low-range close set the stage for a steady to lower opening on Monday. 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 year's decline, monthly support crossing at 11.88 is the next downside target. Closes above the 20-day moving average crossing at 12.41 are needed to confirm that a low has been posted.
May cotton closed lower on Friday. The low-range close sets the stage for a steady to lower opening on Monday. 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 last Wednesday's low, March's high crossing at 86.60 is the next upside target. Closes below the 50-day moving average crossing at 81.22 would temper the near-term friendly outlook.