KEY EVENTS TO WATCH FOR:

Wednesday, April 18, 2018 

7:00 AM ET. MBA Weekly Mortgage Applications Survey

                       Composite Idx (previous 380.6)

                       Composite Idx, W/W% (previous -1.9%)

                       Purchase Idx-SA (previous 247.3)

                       Purchase Idx-SA, W/W% (previous -2.0%)

                       Refinance Idx (previous 1110.8)

                       Refinance Idx, W/W% (previous -1.7%)

8:30 AM ET. IMF Global Financial Stability Report main chapters published

8:30 AM ET. G24 Deputies Meeting

9:30 AM ET. IMF Fiscal Monitor published

10:30 AM ET. EIA Weekly Petroleum Status Report

                       Crude Oil Stocks (Bbl) (previous 428.638M)

                       Crude Oil Stocks, Net Chg (Bbl) (previous +3.306M)

                       Gasoline Stocks (Bbl) (previous 238.935M)

                       Gasoline Stocks, Net Chg (Bbl) (previous +0.458M)

                       Distillate Stocks (Bbl) (previous 128.447M)

                       Distillate Stocks, Net Chg (Bbl) (previous -1.044M)

                       Refinery Usage (previous 93.5%)

                       Total Prod Supplied (Bbl/day) (previous 19.812M)

                       Total Prod Supplied, Net Chg (Bbl/day) (previous -1.405M)

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

3:30 PM ET. SEC Open Meeting

Thursday, April 19, 2018

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

                       Jobless Claims (expected 226K; previous 233K)

                       Jobless Claims, Net Chg (previous -9K)

                       Continuing Claims (previous 1871000)

                       Continuing Claims, Net Chg (previous +53K)

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

                       Corn (Metric Tons) (previous 895.9K)

                       Soybeans (Metric Tons) (previous 2464.5K)

                       Wheat (Metric Tons) (previous 188.7K)

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

                       Business Activity (expected 20.8; previous 22.3)

                       Prices Paid (previous 42.6)

                       Employment (previous 25.6)

                       New Orders (previous 35.7)

                       Prices Received (previous 20.7)

                       Delivery Times (previous 14.0)

                       Inventories (previous 16.5)

                       Shipments (previous 32.4)

8:30 AM ET. Annual   Advance GDP by Industry

9:45 AM ET. Bloomberg Consumer Comfort Index

10:00 AM ET. March Leading Indicators

                       Leading Index (expected +0.3%; previous +0.6%)

                       Coincident Index (previous +0.3%)

                       Lagging Index (previous +0.4%)

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

                       Working Gas In Storage (Cbf) (previous 1335B)

                       Working Gas In Storage, Net Chg (Cbf) (previous -19B)

3:30 PM ET. G24 Ministers and Governors 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 20, 2018  

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

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

                       NAI (previous 0.88)

                       NAI, 3-mo Moving Avg (previous 0.37)

9:45 AM ET. April US Flash Services PMI

                       PMI, Services (previous 54.1)

9:45 AM ET. April US Flash Manufacturing PMI

                       PMI, Mfg (previous 55.7)

10:00 AM ET. March Existing Home Sales

                       Existing Sales (previous 5.54M)

                       Existing Sales, M/M% (previous +3.0%)

                       Unsold Homes Month's Supply (previous 3.4)

                       Median Price (USD) (previous 241700)

                       Median Home Price, Y/Y% (previous +5.9%)

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

The June NASDAQ 100 closed sharply higher on Tuesday and above the 50-day moving average crossing at 6752.15 confirming that a short-term low has been posted. The high-range close sets the stage for a steady to higher opening when Wednesday's night 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 reaction high crossing at 6951.00 is the next upside target. Closes below the 20-day moving average crossing at 6625.96 would confirm that a short-term top has been posted. First resistance is the reaction high crossing at 6951.00. Second resistance is March's high crossing at 7214.50. First support is the 20-day moving average crossing at 6625.96. Second support is April's low crossing at 6306.75.  

The June S&P 500 closed higher on Tuesday and above the 50-day moving average crossing at 2688.46 confirming that a short-term low has been posted. The high-range close sets the stage for a steady to higher opening when Wednesday'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 April's low, the reaction high crossing at 2741.00 is the next upside target. Closes below the 20-day moving average crossing at 2646.56 would confirm that a short-term top has been posted. First resistance is the reaction high crossing at 2741.00. Second resistance is March's high crossing at 2806.00. First support is the 20-day moving average crossing at 2646.56. Second support is April's low crossing at 2554.00. 

The Dow closed higher on Tuesday and above the 50-day moving average crossing at 24.606.53 as it extends the rally off April's low. Today's rallied was supported by positive earnings results as well as positive economic data. An upbeat attitude toward first-quarter earnings remained a driving factor for stocks. Better-than-expected data on housing and industrial production as well as growth numbers from China provided additional support for today's rally. The mid-range close sets the stage for a steady to higher opening when Wednesday'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 this month's rally, the reaction high crossing at 24,977.65 is the next upside target. Closes below the 20-day moving average crossing at 24,203.38 would confirm that a short-term top has been posted. First resistance is the reaction high crossing at 24,977.65. Second resistance is March's high crossing at 25,449.15. First support is the 20-day moving average crossing at 24,203.38. Second support is April's low crossing at 23,344.52.      

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

June T-bonds closed up 10/32's at 145-25.

June T-bonds closed higher on Tuesday. The high-range close sets the stage for a steady to higher opening when Wednesday'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 June resumes the rally off February's low, the 50% retracement level of the December-February-decline crossing at 147-14 is the next upside target. Multiple closes below the 20-day moving average crossing at 145-14 are needed to confirm that a short-term top has been posted.First resistance is the 50% retracement level of the December-February-decline crossing at 147-14. Second resistance is the 62% retracement level of the December-February-decline crossing at 148-28. First support is the 50-day moving average crossing at 144-09. Second support is the reaction low crossing at 142-30.     

June T-notes closed up 10 pts at 120-160.

June T-notes closed higher on Tuesday as it consolidated some of the decline off April's high. The high-range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI are becoming oversold and are turning neutral to bullish hinting that a short-term low might be in or is near. If June resumes the rally off February's low, the 38% retracement level of the 2017-2018-decline crossing at 121.257 is the next upside target. Closes below the 50-day moving average crossing at 120.129 would confirm that a short-term top has been posted. First resistance is April's high crossing at 121.110. Second resistance is the 38% retracement level of the 2017-2018-decline crossing at 121.257. First support is the 50-day moving average crossing at 120.129. Second resistance is the reaction low crossing at 119.220.     

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

May crude oil closed slightly higher on Tuesday. The high-range close sets the stage for a steady to higher opening when Wednesday's night session begins. Stochastics and the RSI are overbought but are turning neutral to bearish signaling that a short-term top might be in or is near. If May extends the rally off February's low, 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 64.82 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 64.82. Second support is April's low crossing at 61.81. 

May heating oil closed lower on Tuesday as it consolidates some of the rally off February's low. The low-range close sets the stage for a steady to lower opening when Wednesday's night trading session begins. Stochastics and the RSI are overbought, diverging and are turning neutral to bearish signaling that a short-term top might be in or near. Closes below the 20-day moving average crossing at 201.72 are needed to confirm that a short-term top has been posted. If May renews the rally off February's low, weekly resistance crossing at 216.58 is the next upside target. First resistance is last Wednesday's high crossing at 212.27. Second resistance is weekly resistance crossing at 216.58. First support is the 10-day moving average crossing at 203.86. Second support is the 20-day moving average crossing at 201.72.  

May unleaded gas closed lower on Tuesday as it consolidated some of the rally off April's low. The mid-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. 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 201.17 would confirm that a short-term top has been posted. If May renews the rally off February's low, January's high crossing at 210.12 is the next upside target. First resistance is February's 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 201.17. Second support is the 50-day moving average crossing at 196.99.

May Henry natural gas closed slightly lower on Tuesday. The mid-range close sets the stage for a steady to lower opening when Wednesday'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 previous reaction high crossing at 2.764 are needed to renew the rally off April's low while opening the door for a possible test of March's high crossing at 2.831. If May renews the decline off March's high, February's low crossing at 2.600 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. Third support is December's low crossing at 2.504. 

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

The June Dollar closed higher on Tuesday.The high-range close sets the stage for a steady to higher opening when Wednesday'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 April's high, March's low crossing at 88.53 is the next downside target. From a broader perspective, June needs to close above 90.49 or below 78.83 are needed to confirm a breakout of the aforementioned trading range and point the direction of the next trading range. 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 87.83. 

The June Euro closed lower on Tuesday. The mid-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off April's low, March's high crossing at 125.54 is the next upside target. If June resumes the decline off March's high, the 50% retracement of the November-February-rally crossing at 121.97 is the next downside target. First resistance is March's high crossing at 125.54. Second resistance is February's high crossing at 126.58. First support is the March 1st low crossing at 122.54. Second support is the 50% retracement level of the November-February-rally crossing at 121.97.    

The June British Pound closed lower on Tuesday as it consolidated some of the rally off April's low. The low-range close sets the stage for a steady to lower opening when Wednesday'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, the 50% retracement level of the 2014-2016-decline crossing at 1.4617 is the next upside target. Closes below the 20-day moving average crossing at 1.4179 would temper the near-term friendly outlook. First resistance is today's high crossing at 1.4413. Second resistance is the 50% retracement level of the 2014-2016-decline crossing at 1.4617. First support is April's low crossing at 1.4007. Second support is March's low crossing at 1.3779. 

The June Swiss Franc closed lower on Tuesday as it extends the decline off February's high. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are oversold, diverging but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends 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 1.0522 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 1.0522. Second resistance is the 50-day moving average crossing at 1.0652. First support is today's low crossing at 1.0383. Second support is the 75% retracement level of the November-February-rally crossing at 1.0344. 

The June Canadian Dollar closed higher on Tuesday as it extends the rally off March's low. The high-range close sets the stage for a steady to higher opening when Wednesday'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, the reaction high crossing at 80.45 is the next upside target. Closes below the 20-day moving average crossing at 78.37 would confirm that a short-term top has been posted. First resistance is today's high crossing at 79.92. Second resistance is the reaction high crossing at 80.45. First support is the 10-day moving average crossing at 79.16. Second support is the 20-day moving average crossing at 78.37.  

The June Japanese Yen closed higher on Tuesday 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 Wednesday’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 20-day moving average crossing at 0.9436 would confirm that a short-term low has been posted. If June extends the aforementioned decline, the 50% retracement level of the October-March-rally crossing at 0.9237 is the next downside target. First resistance is the 50-day moving average crossing at 0.9421. Second resistance is the 20-day moving average crossing at 0.9436. First support is the 38% retracement level of the October-March-rally crossing at 0.9327. Second support is the 50% retracement level of the October-March-rally crossing at 0.9238.   

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

June gold closed higher on Tuesday. The high-range close sets the stage for a steady to higher opening when Wednesday's night 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 March's low, January's high crossing at 1375.50 is the next upside target. Closes below April's low crossing at 1322.60 would confirm that a short-term top has been posted. First resistance is last Wednesday's high crossing at 1369.40. Second resistance is January's high crossing at 1375.50. First support is the 50% retracement level of the December-January-rally crossing at 1311.50. Second support is the 62% retracement level of the December-January-rally crossing at 1296.30.

May silver closed higher on Tuesday. The high-range close set the stage for a steady to higher opening when Wednesday'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 resumes the rally off April's low, the reaction high crossing at 17.025 is the next upside target. Closes below the 20-day moving average crossing at 16.490 is the next downside target. First resistance is the reaction high crossing at 17.025. Second resistance is the reaction high crossing at 17.460. First support is April's low crossing at 16.150. Second support is March's low crossing at 16.100.     

May copper closed slightly lower on Tuesday. The high-range close sets the stage for a steady to higher opening when Wednesday'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 304.87 would temper the near-term friendly outlook. If May resumes the rally off March's low, March's high crossing at 319.20 is the next upside target. First resistance is March's high crossing at 319.20. Second resistance is February's high crossing at 329.05.First support is April's low crossing at 297.00. Second support is March's low crossing at 293.75.  

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

May Corn closed down 2 1/4-cents at 3.80 1/4. 

May corn closed lower on Tuesday and below the 50-day moving average crossing at 3.80 3/4 confirming that a short-term top has been posted. The low-range close sets the stage for a steady to lower opening when Wednesday'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 April's high, the 50% retracement level of the January-March-rally crossing at 374 1/2 is the next downside target. 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 April's high crossing at 3.92 1/2. Second resistance is March's high crossing at 3.95 1/4. First support is the 38% retracement level of the January-March-rally crossing at 3.79 1/2. Second support is the 50% retracement level of the January-March-rally crossing at 374 1/2.  

May wheat closed up 4-cents at 4.66 1/4. 

May wheat closed higher on Tuesday as it consolidated some of the decline off April's high. The mid-range close sets the stage for a steady to higher opening when Wednesday'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 4.63 1/4 would open the door for additional weakness and a possible test of March's low crossing at 4.41 1/2. If May resumes the rally off March's low, the reaction high crossing at 4.98 is the next upside target. First resistance is the reaction high crossing at 4.98. Second resistance is March's high crossing at 5.18 1/2. First support is the 20-day moving average crossing at 4.63 1/4. Second support is March's low crossing at 4.41 1/2.       

May Kansas City Wheat closed up 2 1/2-cents at 4.80 1/2. 

May Kansas City wheat closed higher on Tuesday as it consolidated some of the decline off April's high. Stochastics and the RSI are 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 on Wednesday. Closes above the 10-day moving average crossing at 5.01 1/4 would confirm that a short-term low has been posted. 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 today's low crossing at 4.76. Second support is March's low crossing at 4.56. 

May Minneapolis wheat closed up 5 3/4-cents at 6.12 1/2. 

May Minneapolis wheat posted an inside day with a higher close on Tuesday as it consolidated some of the decline off April's high. The high-range close sets the stage for a steady to higher opening when Wednesday's night 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 6.00 1/4 would confirm that a short-term top has been posted. If May resumes the rally off April's low, 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 the 20-day moving average crossing at 6.00 1/4. Second support is April's low crossing at 5.71.  

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

May soybeans closed up 4-cents at 10.46. 

May soybeans closed higher on Tuesday. The high-range close sets the stage for a steady to higher opening with Wednesday's night session begins trading. Stochastics and the RSI 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 10.36 1/2 would confirm that a short-term top has been posted. If May extends the rally off April's low, March's high crossing at 10.82 1/2 is the next upside target. 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 10.36 1/2. Second support is April's low crossing at 9.83 1/2.

May soybean meal closed up $3.30 at 381.10. 

May soybean meal closed higher on Tuesday. The high-range close sets the stage for a steady to higher opening when Wednesday'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 374.30 would confirm that a short-term top has been posted. If May resumes the rally off March's low, March's high crossing at 404.00 is the next upside target. First resistance is last Monday's high crossing at 389.70. Second resistance is March's high crossing at 404.00. First support is the 38% retracement level of the January-March-rally crossing at 369.60. Second support is the 50% retracement level of the January-March-rally crossing at 359.00.  

May soybean oil closed down 1 pts. At 31.19. 

May soybean oil closed lower on Tuesday as it extended this year's decline. The low-range close sets the stage for a steady to lower opening when Wednesday'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 renews the decline off January's high, the January-2016 low crossing at 30.67 is the next downside target. Closes above the 50-day moving average crossing at 32.00 would confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 32.00. Second resistance is the reaction high crossing at 32.73. First support is Monday's low crossing at 31.14. Second support is the January-2016 low crossing at 30.67.

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

June hogs closed down $0.05 at $76.75. 

June hogs closed lower on Tuesday as it consolidates some of the rally off April's low. The mid-range close sets the stage for a steady to lower opening when Wednesday'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 78.09 is the next upside target. If Closes below the 20-day moving average crossing at 75.28 would temper the near-term friendly outlook. First resistance is the 50-day moving average crossing at 78.09. Second resistance is the reaction high crossing at 79.60. First support is the 20-day moving average crossing at 75.28. Second support is April's low crossing at 70.25. 

June cattle closed up $0.73 at 104.90. 

June cattle closed higher on Tuesday. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Today's close above the 20-day moving average crossing at 104.13 confirmed that a short-term low has been posted. If June extends the rally off April's low, the reaction high crossing at 106.93 is the next upside target. 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 reaction high crossing at 106.93. Second resistance is the 50-day moving average crossing at 110.87. 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 slightly lower at $140.25. 

May Feeder cattle closed lower on Tuesday as it consolidates some of the rally off April's low. The low-range close sets the stage for a steady to lower opening when Wednesday'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 May extends the rally off April's low, the 50-day moving average crossing at 143.31 is the next upside target. Closes below the 20-day moving average crossing at 136.75 would confirm that a short-term top has been posted. First resistance is Monday's high crossing at 142.65. Second resistance is the 50-day moving average crossing at 143.31. First support is last 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 Tuesday as it extended this year's decline. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends the decline off January's high, weekly support crossing at 11.25 is the next downside target. Closes above the 50-day moving average crossing at 12.00 are needed to confirm that a low has been posted.     

May cocoa closed slightly lower on Tuesday as it consolidated some of the rally off December's low. The mid-range close sets the stage for a steady opening on Wednesday. Stochastics and the RSI are becoming 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 87% retracement level of the 2016-2017-decline crossing at 29.07 is the next upside target. Closes below the 10-day moving average crossing at 25.46 would confirm that a short-term top has been posted.  

May sugar closed sharply lower on Tuesday as it renewed this year's decline. The low-range close set the stage for a steady to lower opening on Wednesday. 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 10.13 is the next downside target. Closes above the 20-day moving average crossing at 12.32 are needed to confirm that a low has been posted. 

May cotton closed slightly lower on Tuesday. The high-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI 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 81.39 would temper the near-term friendly outlook. If May extends the rally off April's low, March's high crossing at 86.60 is the next upside target.