KEY EVENTS TO WATCH FOR:

Thursday, June 14, 2018 

8:30 AM ET. SEC Investor Advisory Committee Quarterly Meeting

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

                       Corn (Metric Tons) (previous 1256.9K)

                       Soybeans (Metric Tons) (previous 199.5K)

                       Wheat (Metric Tons) (previous 251.0K)

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

                       Import Prices (expected +0.6%; previous +0.3%)

                       Non-Petroleum Prices (previous +0.1%)

                       Petroleum Prices (previous +1.6%)

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

                       Overall Sales-SA, M/M% (expected +0.4%; previous +0.3%)

                       Sales, Ex-Auto, M/M% (expected +0.5%; previous +0.3%)

                       Sales, Ex-Auto & Gas, M/M% (previous +0.3%)

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

                       Jobless Claims (expected 225K; previous 222K)

                       Jobless Claims, Net Chg (previous -1K)

                       Continuing Claims (previous 1741000)

                       Continuing Claims, Net Chg (previous +21K)

9:45 AM ET. Bloomberg Consumer Comfort Index

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

                       Total Inventories (expected +0.3%; previous +0.0%)

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

                       Working Gas In Storage (Cbf) (previous 1817B)

                       Working Gas In Storage, Net Chg (Cbf) (previous +92B)

1:00 PM ET. IMF press conference on the annual review of the U.S. economy

2:30 PM ET. Federal Reserve Board open meeting

4:30 PM ET. Money Stock Measures

4:30 PM ET. Foreign Central Bank Holdings

4:30 PM ET. Federal Discount Window Borrowings

Friday, June 15, 2018 

8:30 AM ET. June Empire State Manufacturing Survey

                       Mfg Idx (expected 18.0; previous 20.1)

                       Employment Idx (previous 8.7)

                       New Orders Idx (previous 16.0)

                       Prices Received (previous 23.0)

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

                       Industrial Production, M/M% (expected +0.2%; previous +0.7%)

                       Capacity Utilization % (expected 78.1%; previous 78.0%)

                       Capacity Utilization, Net Chg (Pts) (previous +0.4)

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

                       Mid-Mo Sentiment (expected 98.3; previous 98.8)

                       Mid-Mo Expectations (previous 89.5)

                       Mid-Mo Current Idx (previous 113.3)

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

4:00 PM ET. April Treasury International Capital Data

  N/A              Delaware Separation Day holiday

Monday, June 18, 2018 

10:00 AM ET. June NAHB Housing Market Index

                       Housing Mkt Idx (previous 70)

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

The September NASDAQ 100 closed slightly 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off April's low into uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average crossing at 7068.68 would confirm that a short-term top has been posted. First resistance is today's high crossing at 7290.00. Second resistance is unknown. First support is the 10-day moving average crossing at 7177.35. Second support is the 20-day moving average crossing at 7068.68. 

The September S&P 500 closed lower on Wednesday 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 Thursday'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 September extends the rally off May's low, March's high crossing at 2796.30 is the next upside target. Closes below the 20-day moving average crossing at 2745.03 would confirm that a short-term top has been posted. First resistance is today's high crossing at 2795.50. Second resistance is March's high crossing at 2796.30. First support is the 20-day moving average crossing at 2745.03. Second support is the 50-day moving average crossing at 2701.77. 

The Dow closed lower on Wednesday as it consolidates some of the rally off May'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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If the Dow extends the rally off May's low, March's high crossing at 25,449.15 is the next upside target. Closes below the 20-day moving average crossing at 24,891.05 would confirm that a short-term top has been posted. First resistance is Monday's high crossing at 25,402.83. Second resistance is March's high crossing at 25,449.15. First support is the 20-day moving average crossing at 24,891.05. Second support is the late-May's low crossing at 24,247.84.      

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

September T-bonds closed down 8/32's at 142-21.

September T-bonds closed lower on Wednesday.The mid-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. Closes below the 20-day moving average crossing at 142-10 would confirm that a short-term top has been posted. If September extends the rally off May's low, April's high crossing at 146-06 is the next upside target. First resistance is May's high crossing at 145-28. Second resistance is April's high crossing at 146-06. First support is the 20-day moving average crossing at 142-10. Second support is May's low crossing at 139-11.      

September T-notes closed down 65-points at 119-065.

September T-notes closed lower on Wednesday and below the 20-day moving average crossing at 119.084 confirming 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 neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends the decline off May's high, May's low crossing at 117.300 is the next downside target. If September renews the rally off May's low, January's high crossing at 123.000 is the next upside target. First resistance May's high crossing at 121.030. Second resistance is January's high crossing at 123.000. First support is today's low crossing at 118.295. Second support is May's low crossing at 117.300.     

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

July crude oil closed higher on Wednesday. The high-range close sets the stage for a steady to higher opening when Thursday's night session begins. 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 68.16 would confirm that a short-term low has been posted. If July renews the decline off May's high, April's low crossing at 61.73 is the next downside target. First resistance is the 50-day moving average crossing at 67.86. Second resistance is the 20-day moving average crossing at 68.16.First support is last Tuesday's low crossing at 64.22. Second support is April's low crossing at 61.73. 

July heating oil closed higher on Wednesday. The high-range close sets the stage for a steady to higher opening when Thursday's night trading session begins. Stochastics and the RSI are neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 220.71 are needed to confirm that a short-term low has been posted. If July resumes the decline off May's high, the 50% retracement level of the February-May-rally crossing at 205.38 is the next downside target. First resistance is the 20-day moving average crossing at 220.71. Second resistance is May's high crossing at 229.87. First support is the 38% of the February-May-rally crossing at 211.14. Second support is the 50% retracement level of the February-May-rally crossing at 205.38. 

July unleaded gas 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 turning neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 216.67 are needed to confirm that a short-term low has been posted. If July renews the decline off May's high, the 62% retracement level of the February-May-rally crossing at 200.25 is the next downside target. First resistance is the 20-day moving average crossing at 216.67. Second resistance is May's high crossing at 226.25. First support is the 50% retracement level of the February-May-rally crossing at 205.59. Second support is the 62% retracement level of the February-May-rally crossing at 200.25.

July Henry natural gas 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 July renews the rally off May's low, last-October's high crossing at 3.043, is the next upside target. Closes below the 50-day moving average crossing at 2.850 are needed to confirm that a short-term top has been posted. First resistance is May's high crossing at 3.000. Second resistance is last October's high crossing at 3.043. First support is the 50-day moving average crossing at 2.850. Second support is the reaction low crossing at 2.804.  

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

The September Dollar closed slightly 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 bullish signaling that a low might be in or is near. If September renews the decline off May's high, the 50-day moving average crossing at 91.74 is the next downside target. If September renews the rally off February's low, weekly resistance crossing at 95.07 is the next upside target. First resistance is May's high crossing at 94.50. Second resistance is weekly resistance crossing at 95.07. First support is the 50-day moving average crossing at 91.74. Second support is the reaction low crossing at 91.67.   

The September Euro 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 September extends the rally off May's low, the 50-day moving average crossing at 120.99 is the next upside target. If September resumes the decline off April's high, the 62% retracement level of the 2016-2018 rally crossing at 115.36 is the next downside target. First resistance is the reaction high crossing at 119.33. Second resistance is the 50-day moving average crossing at 120.99. First support is the 62% retracement level of the 2016-2018 rally crossing at 115.36. Second support is the 75% retracement level of the 2016-2018 rally crossing at 112.78.    

The September British Pound closed lower 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 bearish signaling that sideways to lower prices are possible near-term. If September renews the decline off April's high, last November's low crossing at 1.3194 is the next downside target. Closes above last Thursday's high crossing at 1.3533 are needed to confirm that a short-term low has been posted. First resistance is last-Thursday's high crossing at 1.3533. Second resistance is the reaction high crossing at 1.3695. First support is May's low crossing at 1.3280. Second support is last November's low crossing at 1.3194. 

The September Swiss Franc closed slightly 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 bearish signaling that sideways to lower prices are possible near-term. Closes above the 50-day moving average crossing at 1.0272 would open the door for additional gains near-term. Closes below the 20-day moving average crossing at 1.0195 would confirm that a short-term top has been posted. First resistance is the 50-day moving average crossing at 1.0272. Second resistance is the 38% retracement level of the February-May-decline crossing at 1.0431 is the next upside target. First support is the reaction low crossing at 1.0116. Second support is May's low crossing at 1.0057. 

The September Canadian Dollar closed slightly higher on Wednesday. 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 bearish signaling that sideways to lower prices are possible near-term. If September renews the decline off April's high, March's low crossing at 76.50 is the next downside target. Closes above the 50-day moving average crossing at 78.19 is needed to confirm that a short-term low has been posted. First resistance is May's high crossing at 78.75. Second resistance is April's high crossing at 80.00. First support is last-Tuesday's low crossing at 76.70. Second support is March's low crossing at 76.50.  

The September Japanese Yen closed lower on Wednesday. The mid-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 September extends the decline off May's high, May's low crossing at 0.8992 is the next downside target. Closes above the 50-day moving average crossing at 0.9258 would confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 0.9258. Second resistance is May's high crossing at 0.9320. First support is May's low crossing at 0.9051. Second support is the 87% retracement level of the October-March-rally crossing at 0.9006.   

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

August gold closed higher on Wednesday as it extends the trading range of the past three-weeks. 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 above the reaction high crossing at 1312.60 are needed to confirm that a short-term low has been posted. If August resumes the decline off April's high, the 75% retracement level of the December-January-rally crossing at 1283.70 is the next downside target. First resistance is the reaction high crossing at 1312.60. Second resistance is May's high crossing at 1332.40. First support is the 75% retracement level of the December-January-rally crossing at 1283.70. Second support is the 87% retracement level of the December-January-rally crossing at 1268.40.

July silver closed higher on Tuesday as it extends the rally off May's low. The high-range close set 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 July extends the rally off May's low, April's high crossing at 17.425 is the next upside target. Closes below the 20-day moving average crossing at 16.594 would confirm that a short-term top has been posted. First resistance is today's high crossing at 17.075. Second resistance is April's high crossing at 17.425. First support is the 20-day moving average crossing at 16.594. Second support is the reaction low crossing at 16.190.        

July copper 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If July extends the rally off March's low, last-December's high crossing at 334.20 is the next upside target. Closes below the 20-day moving average crossing at 314.57 would confirm that a short-term top has been posted. First resistance is last Thursday's high crossing at 331.55. Second resistance is last-December's high crossing at 334.20. First support is the 10-day moving average crossing at 320.96. Second support is the 20-day moving average crossing at 314.57.   

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

July Corn closed down 1 1/2-cents at 3.76. 

July corn closed lower on Wednesday as it consolidates some of Tuesday's rally. The mid-range close sets the stage for a steady 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 July extends the decline off May's high, January's low crossing at 3.62 is the next downside target. Closes above the 20-day moving average crossing at 3.90 3/4 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 3.80. Second resistance is the 20-day moving average crossing at 3.90 3/4. First support is Monday's low crossing at 3.66 3/4 Second support is January's low crossing at 3.62.  

July wheat closed down 17-cents at 5.17 1/2. 

July wheat 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 signaling that sideways to lower prices are possible near-term. If July renews the decline off May's high, the 50-day moving average crossing at 5.07 1/2 is the next downside target. If July renews the rally off March's low, the 75% retracement level of 2017's decline crossing at 5.66 1/4 is the next upside target. First resistance is the 62% retracement level of the July-December-decline crossing at 5.43 3/4. Second resistance is the 75% retracement level of 2017's decline crossing at 5.66 1/4. First support is the 50-day moving average crossing at 5.07 1/2. Second support is May's low crossing at 4.86 1/4.       

July Kansas City Wheat closed down 14 1/2-cents at 5.39. 

July Kansas City wheat 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 bullish signaling that sideways to higher prices are possible near-term. If July renews the rally off May's low, the 75% retracement level of the July-December-decline decline crossing at 5.77 is the next upside target. If July renews the decline off May's high, May's low crossing at 5.02 1/2. First resistance is May's high crossing at 5.74 3/4. Second resistance isthe 75% retracement level of the July-December-decline crossing at 5.77. First support is June's low crossing at 5.18 1/2. Second support is May's low crossing at 5.02 18/2. 

July Minneapolis wheat closed down 8-cents at 5.84 1/2. 

July Minneapolis wheat closed lower on Wednesday as it extends the decline off May'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 July extends the aforementioned decline, April's low crossing at 5.81 is the next downside target. Closes above the 20-day moving average crossing at 6.11 1/2 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 6.11 1/2. Second resistance is May's high crossing at 6.51. First support is today's low crossing at 5.83 1/4. Second support is April's low crossing at 5.81.  

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

July soybeans closed down 17 3/4-cents at 9.36 1/4. 

July soybeans closed sharply lower on Wednesday as it extends 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 July extends the decline off May's high, the 75% retracement level of the 2015-2018-rally crossing at 9.29 1/2 is the next downside target. Closes above the 20-day moving average crossing at 10.02 would confirm that a low has been posted. First resistance is the 20-day moving average crossing at 10.02. Second resistance is the 50-day moving average crossing at 10.25. First support is today's low crossing at 9.34 1/4. Second support is the 75% retracement level of the 2015-2018-rally crossing at 9.29 1/2.

July soybean meal closed down $5.30 at 348.20. 

July soybean meal closed lower on Wednesday as it extends the decline off May'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 July extends the decline off May's high, the 75% retracement level of the January-May-rally crossing at 339.30 is the next downside target. Closes above the 20-day moving average crossing at 370.00 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 362.20. Second resistance is the 20-day moving average crossing at 370.00. First support is today's low crossing at 346.50. Second support is the 75% retracement level of the January-May-rally crossing at 339.30. 

July soybean oil closed unchanged. At 30.05. 

July soybean oil closed unchanged 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends the decline off May's high, the 87% retracement level of the 2015-2016-rally crossing at 29.35 is the next downside target. Closes above the 50-day moving average crossing at 31.17 are needed to confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 31.17. Second resistance is May's high crossing at 32.05. First support is today's low crossing at 30.01. Second support is the 87% retracement level of the 2015-2016-rally crossing at 29.35.

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

July hogs closed up $1.33 at $82.78. 

July hogs closed higher on Wednesday. The high-range close sets the stage for a steady to higher opening when Thursday'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 July extends the rally off April's low, the late-February high crossing at 84.67 is the next upside target. Closes below the 50-day moving average crossing at 78.03 would confirm that a short-term top has been posted. First resistance is today's high crossing at 83.30. Second resistance is the late-February high crossing at 84.67. First support is the 10-day moving average crossing at 79.55. Second support is the 50-day moving average crossing at 78.03.  

October cattle closed down $0.43 at 106.93. 

October cattle 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 bearish signaling that a short-term top is in or near. Closes below the 20-day moving average crossing at 105.63 would confirm that a short-term top has been posted. If October extends the rally off May's low, April's high crossing at 110.05 is the next upside target. First resistance is Monday's high crossing at 108.90. Second resistance is April's high crossing at 110.05. First support is the 20-day moving average crossing at 105.63. Second support is May's low crossing at 101.50.

August Feeder cattle closed down $0.15 at $145.65. 

August Feeder cattle closed lower on Wednesday. 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. Closes below the 50-day moving average crossing at 144.04 would confirm that a short-term top has been posted. If August extends the rally off May's low, March's high crossing at 153.88 is the next upside target. First resistance is May's high crossing at 149.50. Second resistance is March's high crossing at 153.88. First support is the 50-day moving average crossing at 144.04. Second support is May's low crossing at 136.25.    

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

July 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends this month's decline, April's low crossing at 11.53 is the next downside target. Closes above the 50-day moving average crossing at 11.95 would confirm that a short-term top has been posted. 

July cocoa 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 bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 24.84 would confirm that a low has been posted. If July renews the decline off April's high, the 75% retracement level of the December-April-rally crossing at 21.02 is the next downside target.  

July sugar closed higher on Wednesday. The high-range close set the stage for a steady to higher opening on Thursday. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. If July renews the rally off April's low, the 25% retracement level of the 2016-2018-decline crossing at 13.03 is the next upside target. If July renews the decline off June's high, May's low crossing at 11.12 is the next downside target.

July cotton closed lower due to profit taking on Wednesday. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are overbought, diverging and are turning neutral to bearish signaling that a short-term top is in or is near. Closes below the 20-day moving average crossing at 90.64 would confirm that a short-term top has been posted. If July extends this year's rally, weekly resistance crossing at 97.35 is the next upside target.