KEY EVENTS TO WATCH FOR:

Thursday, April 2, 2020 

7:30 AM ET. March Challenger Job-Cut Report

                       Job Cuts, M/M% (previous -16.4%)

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

                       Corn (Metric Tons) (previous 1897.2K)

                       Soybeans (Metric Tons) (previous 904.8K)

                       Wheat (Metric Tons) (previous 1106.5K)

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

                       Jobless Claims (expected 2650K; previous 3283K)

                       Jobless Claims, Net Chg (previous +3001K)

                       Continuing Claims (previous 1803000)

                       Continuing Claims, Net Chg (previous +101K)

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

                       Trade Balance (USD) (expected -39.3B; previous -45.34B)

                       Exports (USD) (previous 208.57B)

                       Exports, M/M% (previous -0.4%)

                       Imports (USD) (previous 253.91B)

                       Imports, M/M% (previous -1.6%)

9:45 AM ET. Bloomberg Consumer Comfort Index

9:45 AM ET. March ISM-NY Report on Business

                       Business Index (previous 51.9)

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

                       Total Orders, M/M% (expected +0.3%; previous -0.5%)

                       Orders, Ex-Defense, M/M% (previous +1.3%)

                       Orders, Ex-Transport, M/M% (previous -0.1%)

                       Durable Goods, M/M% (previous -0.2%)

                       Durable Goods, M/M%

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

                       Working Gas In Storage (Cbf) (previous 2005B)

                       Working Gas In Storage, Net Chg (Cbf) (previous -29B)

4:30 PM ET. Foreign Central Bank Holdings

4:30 PM ET. Money Stock Measures

4:30 PM ET. Federal Discount Window Borrowings

Friday, April 3, 2020  

8:30 AM ET. March U.S. Employment Report

                       Non-Farm Payrolls (expected -56K; previous +273K)

                       Unemployment Rate (expected 3.7%; previous 3.5%)

                       Avg Hourly Earnings (USD) (previous 28.52)

                       Avg Hourly Earnings-Net Chg (USD) (previous +0.09)

                       Avg Hourly Earnings, M/M% (expected +0.3%; previous +0.32%)

                       Avg Hourly Earnings, Y/Y% (expected +3.0%; previous +3.0%)

                       Overall Workweek (previous 34.4)

                       Overall Workweek Net Chg (previous +0.1)

                       Government Payrolls (previous +45K)

                       Private Payroll (previous +228K)

                       Participation Rate (previous 63.4%)

                       Non-Farm Payrolls Bench Net Chg

9:45 AM ET. March US Services PMI

                       PMI, Services (previous 49.4)

10:00 AM ET. March ISM Non-Manufacturing Report on Business

                       Non-Mfg Composite Idx (expected 45.7; previous 57.3)

                       Non-Mfg Business Idx (previous 57.8)

                       Prices Idx (previous 50.8)

                       Employment Idx (previous 55.6)

                       New Orders Idx (previous 63.1)

11:00 AM ET. March Global Services PMI

                       PMI, Services (previous 47.1)

Monday, April 6, 2020  

8:30 AM ET. Annual Advance GDP by Industry

10:00 AM ET. March Employment Trends Index

                       ETI (previous 108.96)

                       ETI, Y/Y%

  N/A              World Strategic Forum commences

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

The Dow gapped down and closed sharply lower on Wednesday after President Donald Trump warned that a very tough two weeks lies ahead for the country in face of a rapidly spreading COVID-19 pandemic. The low-range close that sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 10-day moving average crossing at 20,917.29 would temper the near-term friendly outlook. Closes above last-Thursday's high crossing at 22,595.06 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 22,595.06. Second resistance is the March 12^th gap crossing at 23,328.32. First support is the 10-day moving average crossing at 20,917.29. Second support is March's low crossing at 18,213.65. Third support is the November-2016 low crossing at 17,883.56. 

The June NASDAQ 100 closed sharply lower on Wednesday as it consolidates some of the rally off March's low. The low-range close sets the stage for a steady to lower opening when Thursday'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 Tuesday's high crossing at 7995.00 are needed to confirm that a short-term low has been posted. If June resumes the decline off February's high the January-2019 low on the weekly continuation chart crossing at 6616.75 is the next downside target. First resistance is the 50% retracement level of the February-March-decline crossing at 8208.09. Second resistance is the 50-day moving average crossing at 8584.55. First support is last-Thursday's low crossing at 7310.25. Second support is March's low crossing at 6628.75.  

The June S&P 500 closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening when Thursday'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 2561.76 would confirm that a short-term low has been posted. If March resumes the decline off February's high, the 50% retracement level of the 2009-2020-rally crossing at 2028.01 is the next downside target. First resistance is the 20-day moving average crossing at 2561.76. Second resistance is the 50% retracement level of the February-March-decline crossing at 2780.02. First support is the 10-day moving average crossing at 2455.30. Second support is March's low crossing at 2174.90. Third support is the 50% retracement level of the 2009-2020-rally crossing at 2028.01.

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June T-bonds closed up 3-00/32's at 182-02.  

June T-bonds closed higher on Wednesday.The high-range close sets the stage for a steady to higher opening when Thursday'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, March's high crossing at 191-22. Closes below the 20-day moving average crossing at 177-26 would signal that a short-term top has been posted. If June resumes the decline off March's high, the 50-day moving average crossing at 169-01 is the next downside target. First resistance is the reaction high crossing at 182-21. Second resistance is March's high crossing at 191-22. First support is the 20-day moving average crossing at 177-26. Second support is the 50-day moving average crossing at 169-01. 

June T-notes closed up 135-pts. at 139.035.

June T-notes closed higher on Wednesday. The low-range close sets the stage for a steady to lower opening when Thursday'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, March's high crossing at 140.240 is the next upside target. Closes below the 20-day moving average crossing at 137.106 would signal that a short-term top has been posted while opening the door for a possible test of the 50-day moving average crossing at 133.290. First resistance is today's high crossing at 139.135. Second resistance is March's high crossing at 140.240. First support is the 20-day moving average crossing at 137.106. Second support is the 50-day moving average crossing at 133.290.        

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

May crude oil closed slightly higher on Wednesday as it consolidated some of this week's decline. The high-range close sets the stage for a steady to higher opening when Thursday's night session begins. 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, the October-1998 low on the monthly continuation chart crossing at $17.12 is the next downside target. Closes above the 20-day moving average crossing at $27.95 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at $22.79. Second resistance is the 20-day moving average crossing at $27.95. First support is Monday's low crossing at $19.27. Second support is the October-1998 low on the monthly continuation chart crossing at $17.12.   

May heating oil closed lower on Wednesday as it extended this year's decline. The low-range close sets the stage for a steady to lower opening when Thursday's night trading session begins. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends this year's decline, the January 2016 low on the weekly continuation chart crossing at $84.87 is the next downside target. Closes above the 20-day moving average crossing at $111.61 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at $111.61. Second resistance is the March 9^th gap crossing at $137.81. First support is today's low crossing at $93.03. Second support is weekly support crossing at $84.87.

May unleaded gas closed slightly lower on Wednesday. The mid-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 81.04 are needed to confirm that a short-term low has been posted. If May resumes the decline off February's high, monthly support crossing at 32.40 is the next downside target. First resistance is the reaction high crossing at 76.12. Second resistance is the 20-day moving average crossing at 81.04. First support is March's low crossing at 46.05. Second support is monthly support crossing at 32.40.

May Henry natural gas closed lower on Wednesday as it extends this year's decline. The low-range close sets the stage for a steady to lower opening when Thursday'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 below weekly support crossing at 1.611, it would open the door for additional weakness near-term. Closes above the 20-day moving average crossing at 1.759 would temper the near-term bearish outlook. First resistance is the 20-day moving average crossing at 1.759. Second resistance is the 50-day moving average crossing at 1.856. First support is today's low crossing at 1.587. Second support is weekly support crossing at 1.530.         

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

The June Dollar closed higher on Wednesday as it consolidates some of the decline off March's high. The high-range close sets the stage for a steady to higher opening when Thursday'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 98.49 would open the door for a larger-degree decline into early-April. Closes above the 10-day moving average crossing at 100.87 would temper the near-term bearish outlook. First resistance is the 10-day moving average crossing at 100.87. Second resistance is March's high crossing at 103.96. First support is the 50-day moving average crossing at 98.49. Second support is the 75% retracement level of March's rally crossing at 96.89. 

The June Euro closed lower on Wednesday as it consolidates some of the rally off March's low. The low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 10-day moving average crossing at 109.36 would confirms that a short-term top has been posted. If June resumes the rally off March's low, the March 16^th high crossing at 112.78 is the next upside target. First resistance is the March 16^th high crossing at 112.78 is the next upside target. Second resistance is March's high crossing at 115.45. First support is the 10-day moving average crossing at 109.36. Second support is March's low crossing at 106.71. 

The June British Pound closed slightly lower on Wednesday as it consolidates above the 20-day moving average crossing at 1.2311. The mid-range close sets the stage for a steady opening when Thursday'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, the 50-day moving average crossing at 1.2734 is the next  upside target. Closes below the 10-day moving average crossing at 1.2041. First resistance is the 50% retracement level of the December-March-decline crossing at 1.2505. Second resistance is the 50-day moving average crossing at 1.2734. First support is the 10-day moving average crossing at 1.2041. Second support is March's low crossing at 1.1438. 

The June Swiss Franc closed lower on Wednesday as it consolidates some of the rally off March's low. The low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 10-day moving average crossing at 1.0336 would confirm that a short-term top has been posted. If June resumes the rally off March's low, the March 16^th high crossing at 1.0698 is the next upside target. First resistance is the March 16^th high crossing at 1.0698. Second resistance is March's high crossing at 1.0943. First support is the 10-day moving average crossing at 1.0336. Second support is March's low crossing at 1.0138.

The June Canadian Dollar closed lower on Wednesday.The low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes above the 20-day moving average crossing at 71.25 would open the door for a larger-degree rally into early-April. If June renews the decline off January's high, the January-2016 low on the monthly continuation chart crossing at 68.09 is the next downside target. First resistance is the 20-day moving average crossing at 71.25. Second resistance is the 50% retracement level of the January-March-decline crossing at 72.71. First support is March's low crossing at 68.20. Second support is the January-2016 low on the monthly continuation chart crossing at 68.09. 

The June Japanese Yen closed higher on Wednesday and above the 20-day moving average crossing at 0.0933 confirming that a short-term low has been posted. The high-range close sets the stage for a steady to higher opening when Thursday’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, long-term resistance crossing at 0.0942 is the next upside target. Closes below the 10-day moving average crossing at 0.0918 would confirm that a short-term top has been posted. First resistance is long-term resistance crossing at 0.0942. Second resistance is March's high crossing at 0.0992. First support is March's low crossing at 0.0900. Second support is February's low crossing 0.0897.  

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

April gold closed slightly higher on Wednesday 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 Thursday's night session begins trading. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term. Multiple closes below the 10-day moving average crossing at $1590.30 are needed to confirm that a short-term top has been posted. If April renews the rally off March's low, March's high crossing at $1704.30. First resistance is the March 25th high crossing at $1699.30. Second resistance is March's high crossing at $1704.30. First support is today's low crossing at $1570.00. Second support is March's low crossing at $1450.90.

May silver closed lower on Wednesday as it consolidates some of the rally off March's low. The low-range close set the stage for a steady to lower opening when Thursday'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 14.611 are needed to confirm that a short-term low has been posted. If May resumes the decline off February's high, weekly support crossing at 8.400 is the next downside target. First resistance is the 20-day moving average crossing at 14.611. Second resistance is the 50-day moving average crossing at 16.536. First support is the 10-day moving average crossing at 13.883. Second support is March's low crossing at 11.640.  

May copper closed lower on Wednesday as it extends the trading range of the past three-weeks. The low-range close sets the stage for a steady to lower opening when Thursday'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 230.64 are needed to confirm that a short-term low has been posted. If May resumes this year's decline, the January-2016 low on the monthly continuation chart crossing at 193.55 is the next downside target. First resistance is Tuesday's high crossing at 224.80. Second resistance is the 20-day moving average crossing at 230.64. First support is March's low crossing at 197.25. Second support is theJanuary-2016 low on the monthly continuation chart crossing at 193.55.

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

July Corn closed down $0.07 1/4-cents at 3.38 3/4. 

July corn closed sharply lower on Wednesday as traders continue to worry about 97 million potential U.S. acres getting planted this spring along with a significant reduction in short-term ethanol demand. The low-range close sets the stage for a steady to lower opening when Thursday's night sessions begins trading. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends this year's decline, monthly support crossing at $3.29 3/4 is the next downside target. Closes above the 20-day moving average crossing at $3.58 3/4 are needed to confirm that a short-term low has been posted. First resistance is last-Thursday's high crossing at 3.56 3/4. Second resistance is the 20-day moving average crossing at $3.58 3/4. First support is today's low crossing at $3.38 1/4. Second support is monthly support crossing at $3.29 3/4.    

July wheat closed down $0.13 3/4-cents at $5.48 3/4.  

July wheat closed sharply lower on Wednesday due to spillover weakness from the stock market. The low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are overbought but are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at $5.31 3/4 would confirm that a short-term top has been posted. If July resumes the rally off March's low, January's high crossing at $5.89 is the next upside target. First resistance is March's high crossing at $5.71 1/2. Second resistance is January's high crossing at $5.89. First support is the 50-day moving average crossing at $5.42 3/4. Second support is the 20-day moving average crossing at $5.31 3/4.      

July Kansas City Wheat closed down $0.17-cents at $4.82 1/2.

July Kansas City wheat closed sharply lower on Wednesday. The low-range close sets the stage for a steady to lower opening when Thursday night session begins trading. Stochastics and the RSI are overbought but are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at $4.67 are needed to confirm that a short-term top has been posted. If July extends the rally off March's low, January's high crossing at $5.19 is the next upside target. First resistance is March's high crossing at $5.09 1/4. Second resistance is January's high crossing at $5.19. First support is the 50-day moving average crossing at $4.76. Second support is the 20-day moving average crossing at $4.67.    

July Minneapolis wheat closed down $0.13 1/4-cents at $5.34 3/4. 

July Minneapolis wheat closed sharply lower on Wednesday after weak financial and energy futures triggered some major technical selling.The low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are overbought and are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 5.32 would temper the near-term friendly outlook. If July extends the rally off March's low, February's high crossing at $5.58 3/4 is the next upside target. First resistance is February's high crossing at $5.58 3/4. Second resistance is January's high crossing at $5.82 1/2. First support is the 20-day moving average crossing at $5.32. Second support is March's low crossing at $5.13 1/2.      

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

July soybeans closed down $0.22 1/2-cents at $8.67.

July soybeans closed sharply lower on Wednesday due to a sell off in financial, energy and other grain markets in a broad-based selloff. Today's close below the 20-day moving average crossing at $8.72 1/2 confirms that a short-term top has been posted. The low-range close sets the stage for a steady to lower opening when Thursday'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 July renews the rally off March's low, March's high crossing at $9.20 1/2 is the next upside target. First resistance is the 50-day moving average crossing at $8.96 1/4. Second resistance is March's high crossing at $9.20 1/2. First support is today's low crossing at $8.65 1/4. Second support is March's low crossing at $8.29.     

July soybean meal closed down $7.10 at $311.80. 

July soybean meal closed sharply lower on Wednesday. The low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at $310.40 would confirm that a short-term top has been posted. If July resumes the rally off March's low, last-May's high crossing at $336.80 is the next upside target. First resistance is March's high crossing at $326.40. Second resistance is last-May's high crossing at $336.80. First support is the 20-day moving average crossing at $310.40. Second support is the 50-day moving average crossing at $306.50.     

July soybean oil closed up 90-pts. At 26.46. 

July soybean oil closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening when Thursday'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 Monday's high crossing at 27.74 are needed to confirm that a short-term low has been posted. If May renews the decline off January's high, weekly support crossing at 20.70 is the next downside target. First resistance is Monday's high crossing at 27.74. Second resistance is the March 9^th gap crossing at 28.89. First support is March's low crossing at 25.02. Second support is weekly support crossing at 20.70.        

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

April hogs closed down $3.00 at $49.20. 

April hogs closed limit down on Wednesday as it extended the decline off March's high. The low-range close sets the stage for a steady to lower opening when Thursday'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 April extends the aforementioned decline, weekly support crossing at $47.83 is the next downside target. Closes above the 50-day moving average crossing at $63.70 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at $60.37. Second resistance is the 50-day moving average crossing at $63.70. First support is today's low crossing at $49.20. Second support is weekly support crossing at $47.83.   

April cattle closed down $4.50 at $97.32. 

April cattle closed limit down on Wednesday as it extended the decline off last-Wednesday's high. The low-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If April extends the aforementioned decline, March's low crossing at $91.08 is the next downside target. If April renews the rally off March's low, the 50-day moving average crossing at $111.11 is the next upside target. First resistance is the 50-day moving average crossing at $111.11. Second resistance is March's high crossing at $112.65. First support is today's low crossing at $97.32. Second support is March's low crossing at $91.08. 

May Feeder cattle closed down $4.50-cents at $118.40. 

May Feeder cattle closed limit down on Wednesday as it extends the decline off last-Wednesday's high. The low-range close sets the stage for a steady to lower opening when Thursday's 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 aforementioned decline, March's low crossing at $107.47 is the next downside target. If May resumes the rally off March's low, the 50-day moving average crossing at $132.67 is the next upside target. First resistance is the 50-day moving average crossing at $132.67. Second resistance is March's high crossing at $138.20. First support is today's low crossing at $118.40. Second support is March's low crossing at $107.47.       

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

May coffee closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening on Thursday. 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 11.44 would confirm that a short-term top has been posted. If May renews the aforementioned rally, the 75% retracement level of the December-February-decline crossing at 13.33 is the next upside target. 

May cocoa closed lower on Wednesday as it extended the trading range of the past three-weeks. The mid-range close sets the stage for a steady opening on Thursday. 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 February's high, the October-2018 low crossing at 21.10 is the next downside target. Closes above the 20-day moving average crossing at 23.63 are needed to confirm that a short-term low has been posted.              

May sugar closed lower on Wednesday as it extends the decline off February's high. The low-range close set the stage for a steady to lower opening on Thursday. 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 February's high, monthly support crossing at 9.91 is the next downside target. Closes above the 20-day moving average crossing at 11.44 are needed to temper the near-term bearish outlook.        

May cotton closed sharply lower on Wednesday as it extend this year's decline. The low-range close sets the stage for a steady to lower opening on Thursday. 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 January's high, monthly support crossing at 36.70 is the next downside target. Closes above the 20-day moving average crossing at 56.27 are needed to confirm that a low has been posted.