KEY EVENTS TO WATCH FOR:

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 lower on Friday as it consolidated some of this month's rally into uncharted territory. The mid-range close sets the stage for a steady opening when Monday'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 7104.02 would confirm that a short-term top has been posted. First resistance is Thursday's high crossing at 7321.00. Second resistance is unknown. First support is the 10-day moving average crossing at 7224.73. Second support is the 20-day moving average crossing at 7104.02. 

The September S&P 500 closed slightly 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 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 2751.15 would confirm that a short-term top has been posted. First resistance is Wednesday'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 2751.15. Second support is the 50-day moving average crossing at 2706.89. 

The Dow closed lower on Friday as it consolidates some of the rally off May's low. A short covering rally in the afternoon session tempered early-session losses and the high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI have turned neutral to bearish hinting that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 24,926.68 would confirm that a short-term top has been posted. If the Dow renews the rally off May's low, March's high crossing at 25,449.15 is the next upside target. 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 24,926.68. Second support is the late-May's low crossing at 24,247.84.      

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September T-bonds closed up 14/32's at 143-23.

September T-bonds closed higher on Friday as it extends this month's trading range.The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the reaction low crossing at 142-01 would confirm that a short-term top has been posted. If September resumes 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 reaction low crossing at 142-01. Second support is May's low crossing at 139-11.     

September T-notes closed up 55-points at 119-190.

September T-notes closed higher on Friday. However, the low-range close sets the stage for a steady to lower opening when Monday'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. Closes above the reaction high crossing at 120.005 would confirm that a short-term low has been posted. First resistance is the reaction high crossing at 120.005. Second resistance is May's high crossing at 121.030. First support is Wednesday's low crossing at 118.295. Second support is May's low crossing at 117.300.     

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July crude oil closed lower on Friday signaling a likely end to the corrective rally off the early-June low. The low-range close sets the stage for a steady to lower opening when Monday's night session begins. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If July renews the decline off May's high, April's low crossing at 61.73 is the next downside target. Closes above the 50-day moving average crossing at 67.97 would confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 67.97. Second resistance is the reaction high crossing at 68.76.First support is the early-June low crossing at 64.22. Second support is April's low crossing at 61.73. 

July heating oil closed lower on Friday as it renewed the decline off May's high. The low-range close sets the stage for a steady to lower opening when Monday's night trading session begins. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. 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. Closes above the 20-day moving average crossing at 219.20 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 219.20. Second resistance is May's high crossing at 229.87. First support is today's low crossing at 208.41. Second support isthe 50% retracement level of the February-May-rally crossing at 205.38. 

July unleaded gas closed lower on Friday as it renewed the decline off May's high. The low-range close sets the stage for a steady to lower opening when Monday'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 decline off May's high, the 62% retracement level of the February-May-rally crossing at 200.25 is the next downside target. Closes above the 20-day moving average crossing at 214.79 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 214.79. Second resistance is the reaction high crossing at 219.87. First support is the 62% retracement level of the February-May-rally crossing at 200.25. Second support is the 75% retracement level of the February-May-rally crossing at 194.27.

July Henry natural gas closed higher on Friday as it broke out to the topside of the symmetrical triangle, which has formed off May's high. 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. If July extends 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 2.857 are needed to confirm that a short-term top has been posted. First resistance is today's high crossing at 3.032. Second resistance is last October's high crossing at 3.043. First support is the 50-day moving average crossing at 2.857. Second support is the reaction low crossing at 2.804.  

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The September Dollar closed lower on Friday as it consolidated some of Thursday's gains. The low-range close sets the stage for a steady to lower 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. If September extends the rally off February's low, weekly resistance crossing at 95.07 is the next upside target. Closes below Thursday's low crossing at 92.82 would confirm that a short-term top has been posted. First resistance is today's high crossing at 94.82. Second resistance is weekly resistance crossing at 95.07. First support is the 50-day moving average crossing at 91.94. Second support is the reaction low crossing at 91.67.   

The September Euro closed higher on Friday as it consolidated some of Thursday's decline. 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 bearish signaling that sideways to lower prices are possible near-term. 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. Closes above Thursday's high crossing at 119.40 are needed to confirm that a low has been posted. First resistance is Thursday's high crossing at 119.40. Second resistance is the 50-day moving average crossing at 120.70. 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 slightly higher 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 bearish signaling that sideways to lower prices are possible near-term. If September extends 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 today's low crossing at 1.3266. Second support is last November's low crossing at 1.3194. 

The September Swiss Franc closed slightly lower on Friday. The mid-range close sets the stage for a steady to lower opening when Monday'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 this week's decline, a test of May's low crossing at 1.0057 is the next downside target. Closes above the 50-day moving average crossing at 1.0254 would open the door for additional gains near-term. First resistance is the 50-day moving average crossing at 1.0254. Second resistance is the 38% retracement level of the February-May-decline crossing at 1.0431 is the next upside target. First support is today's low crossing at 1.0090. Second support is May's low crossing at 1.0057. 

The September Canadian Dollar closed lower on Friday and posted a new low close for the year. The low-range close sets the stage for a steady to lower opening when Monday'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 September extends the decline off April's high, the 62% retracement level of the 2016-2017-rally crossing at 74.54 is the next downside target. Closes above the 50-day moving average crossing at 78.09 is needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 77.40. Second resistance is the 50-day moving average crossing at 78.09. First support is today's low crossing at 75.87. Second support is the 62% retracement level of the 2016-2017-rally crossing at 74.54.  

The September Japanese Yen closed slightly higher 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 oversold but remain 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 0.9245 would confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 0.9245. 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.   

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August gold closed sharply lower on Friday as it broke out to the downside of the trading range of the past three-weeks. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If August extends the decline off April's high, the 87% retracement level of the December-January-rally crossing at 1268.40 is the next downside target. Closes above the reaction high crossing at 1312.60 are needed to confirm that a short-term low has been posted. First resistance is the reaction high crossing at 1312.60. Second resistance is May's high crossing at 1332.40. First support is the 87% retracement level of the December-January-rally crossing at 1268.40. Second support is last-December's low crossing at 1251.90.

July silver closed sharply lower on Friday and below the 20-day moving average crossing at 16.642 confirming that a short-term top has been posted. The low-range close set the stage for a steady to lower opening when Monday'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 extends today's decline, the reaction low crossing at 16.190 is the next downside target. If July resumes the rally off May's low, April's high crossing at 17.425 is the next upside target. First resistance is Thursday's high crossing at 17.350. Second resistance is April's high crossing at 17.425. First support is the reaction low crossing at 16.190. Second support is May's low crossing at 16.070.       

July copper closed sharply lower on Friday and below the 20-day moving average crossing at 315.45 confirming that a short-term top has been posted. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends today's decline, May's low crossing at 301.00 is the next downside target. 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 50-day moving average crossing at 312.29. Second support is May's low crossing at 301.00.   

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July Corn closed down a 1/2-cent at 3.62 1/2. 

July corn closed fractionally lower on Friday as it extended the decline off May's high. A short covering rally ahead of the close tempered some of today's losses and the mid-range close sets the stage for a steady to higher opening when Monday'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, psychological support crossing at 3.50 is the next downside target. Closes above the 10-day moving average crossing at 3.92 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 3.92. Second resistance is June's high crossing at 4.12 1/4. First support is today's low crossing at 3.55 1/4 Second support is psychological support crossing at 3.50.  

July wheat closed down 1 3/4-cents at 4.99 3/4. 

July wheat closed lower on Friday as it extended this week's decline, The mid-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends the decline off May's high, the late-April low crossing at 4.67 3/4 is the next downside target. Closes above Wednesday's high crossing at 5.38 3/4 are needed to confirm that a low has been posted. 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 May's low crossing at 4.86 1/4. Second support is the late-April low crossing at 4.67 3/4.       

July Kansas City Wheat closed down 2 1/2-cents at 5.19 3/4. 

July Kansas City wheat closed lower on Friday. The mid-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends the decline off May's high, May's low crossing at 5.02 1/2. Closes above Wednesday's high crossing at 5.88 would confirm that a short-term low has been posted.First resistance is Wednesday's high crossing at 5.88. Second resistance is May's high crossing at 5.74 3/4. First support is May's low crossing at 5.02 1/2. Second support is the reaction low crossing at 4.97 1/4. 

July Minneapolis wheat closed down 6 3/4-cents at 5.70 3/.4 

July Minneapolis wheat closed lower on Friday as it extends the decline off May's high. The low-range close sets the stage for a steady to lower opening when Monday'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, the December-2016 low crossing at 5.57 3/4 is the next downside target. Closes above the 20-day moving average crossing at 6.07 3/4 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 5.89 1/4. Second resistance is the 20-day moving average crossing at 6.07 3/4. First support is today's low crossing at 5.67 1/2. Second support is the December-2016 low crossing at 5.57 3/4.  

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July soybeans closed down 23-cents at 9.04 1/4. 

July soybeans closed sharply lower on Friday as it extends the decline off March's high. The low-range close sets the stage for a steady to lower opening when Monday'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 March-2016 low crossing at 8.91 is the next downside target. Closes above the 20-day moving average crossing at 9.94 would confirm that a low has been posted. First resistance is the 10-day moving average crossing at 9.61 1/2. Second resistance is the 20-day moving average crossing at 9.94. First support is the 87% retracement level of the 2015-2018-rally crossing at 9.03 3/4. Second support is the March-2016 low crossing at 8.91.

July soybean meal closed down $4.20 at 339.00. 

July soybean meal closed lower on Friday as it extends the decline off May's high. The low-range close sets the stage for a steady to lower opening when Monday'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 January-May-rally crossing at 328.50 is the next downside target. Closes above the 20-day moving average crossing at 366.50 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 355.50. Second resistance is the 20-day moving average crossing at 366.50. First support is today's low crossing at 335.90. Second support is the 87% retracement level of the January-May-rally crossing at 328.50. 

July soybean oil closed down 1-point. At 30.07. 

July soybean oil closed sharply lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday'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 31.08 are needed to confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 31.08. Second resistance is May's high crossing at 32.05. First support is today's low crossing at 29.45. Second support is the 87% retracement level of the 2015-2016-rally crossing at 29.35.

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July hogs closed up $0.10 at $81.73. 

July hogs closed higher on Friday. The low-range close sets the stage for a steady to lower 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 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 78.27 would confirm that a short-term top has been posted. First resistance is Wednesday'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 80.21. Second support is the 50-day moving average crossing at 78.27.  

October cattle closed up $2.23 at 107.03. 

October cattle closed higher on Friday erasing Thursday's losses. 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 turning neutral signaling that sideways trading is possible near-term. If October renews 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 today's low crossing at 103.50. Second support is May's low crossing at 101.50.

August Feeder cattle closed up $4.30 at $147.98. 

August Feeder cattle closed sharply higher on Friday and above the 10-day moving average crossing at 146.01 confirming that a short-term low has been posted. The high-range close sets the stage for a steady to higher opening when Monday's session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If August renews 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 today's low crossing at 142.18. Second support is May's low crossing at 136.25.   

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

July coffee closed lower on Friday. The mid-range close sets the stage for a steady to lower opening on Friday. 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, monthly support crossing at 11.10 is the next downside target. Closes above the 50-day moving average crossing at 11.94 would confirm that a short-term top has been posted. 

July cocoa closed higher on Friday and above the 20-day moving average crossing at 24.65 confirming that a low has been posted. 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 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 lower on Friday. The low-range close set the stage for a steady to lower opening on Monday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If July renews the decline off June's high, May's low crossing at 11.12 is the next downside target. 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. 

July cotton closed sharply lower on Friday and below the 20-day moving average crossing at 91.38 confirming that a short-term top has been posted. The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If July renews this year's rally, weekly resistance crossing at 97.35 is the next upside target.