KEY EVENTS TO WATCH FOR:
Tuesday, January 9, 2018
6:00 AM ET. December NFIB Index of Small Business Optimism
Small Business Idx (expected 107.0; previous 107.5)
7:45 AM ET. The Retail Economist/Goldman Sachs Weekly Chain Store Sales Index
Chain Store Sales, W/W% (previous -2.3%)
Chain Store Sales, M/M% (previous +3.9%)
8:55 AM ET. Johnson Redbook Retail Sales Index
Ret Sales Mo-to-Date, M/M% (previous +0.3%)
Ret Sales Mo-to-Date, Y/Y% (previous +4.3%)
Latest Wk, Y/Y% (previous +5.0%)
10:00 AM ET. November Job Openings & Labor Turnover Survey
10:00 AM ET. January IBD/TIPP Economic Optimism Index
Economic Optimism Idx (previous 51.9)
6-Mo Economic Outlook (previous 49.8)
4:00 PM ET. World Bank's Global Economic Prospects report
4:30 PM ET. API Weekly Statistical Bulletin
Crude Stocks, Net Chg (Bbls) (previous -5.0M)
Gasoline Stocks, Net Chg (Bbls) (previous +1.9M)
Distillate Stocks, Net Chg (Bbls) (previous +4.3M)
Refinery Runs
Wednesday, January 10, 2018
7:00 AM ET. MBA Weekly Mortgage Applications Survey
Composite Idx (previous 368.6)
Composite Idx, W/W% (previous +0.7%)
Purchase Idx-SA (previous 236.9)
Purchase Idx-SA, W/W% (previous -0.1%)
Refinance Idx (previous 1151.9)
Refinance Idx, W/W% (previous +1.4%)
8:30 AM ET. December Import & Export Price Indexes
Import Prices (expected +0.5%; previous +0.7%)
Non-Petroleum Prices (previous +0.1%)
Petroleum Prices (previous +7.2%)
10:00 AM ET. November Monthly Wholesale Trade
Inventories, M/M% (expected +0.7%; previous -0.5%)
10:30 AM ET. EIA Weekly Petroleum Status Report
Crude Oil Stocks (Bbl) (previous 424.463M)
Crude Oil Stocks, Net Chg (Bbl) (previous -7.419M)
Gasoline Stocks (Bbl) (previous 233.187M)
Gasoline Stocks, Net Chg (Bbl) (previous +4.813M)
Distillate Stocks (Bbl) (previous 138.834M)
Distillate Stocks, Net Chg (Bbl) (previous +8.899M)
Refinery Usage (previous 96.7%)
Total Prod Supplied (Bbl/day) (previous 19.947M)
Total Prod Supplied, Net Chg (Bbl/day) (previous -0.828M)
Thursday, January 11, 2018
8:30 AM ET. U.S. Weekly Export Sales
Corn (Metric Tons) (previous 101.3K)
Soybeans (Metric Tons) (previous 160.8K)
Wheat (Metric Tons) (previous 131K)
8:30 AM ET. December PPI
PPI, M/M% (expected +0.2%; previous +0.4%)
Ex-Food & Energy PPI, M/M% (expected +0.2%; previous +0.3%)
Personal Consumption (previous +0.6%)
8:30 AM ET. Unemployment Insurance Weekly Claims Report - Initial Claims
Jobless Claims (expected 245K; previous 250K)
Jobless Claims, Net Chg (previous +3K)
Continuing Claims (previous 1914000)
Continuing Claims, Net Chg (previous -37K)
9:45 AM ET. Bloomberg Consumer Comfort Index
10:30 AM ET. EIA Weekly Natural Gas Storage Report
Working Gas In Storage (Cbf) (previous 3126B)
Working Gas In Storage, Net Chg (Cbf) (previous -206B)
4:30 PM ET. Foreign Central Bank Holdings
4:30 PM ET. Money Stock Measures
4:30 PM ET. Federal Discount Window Borrowings
Friday, January 12, 2018
8:30 AM ET. December CPI
CPI, M/M% (expected +0.1%; previous +0.4%)
Core CPI, M/M% (expected +0.2%; previous +0.1%)
Energy Idx, M/M% (previous +3.9%)
Food Idx, M/M% (previous +0.0%)
Real Avg Wkly Pay-Infla Adj, M/M% (previous +0.1%)
CPI, Y/Y% (expected +2.1%; previous +2.2%)
Core Annual, Y/Y% (expected +1.7%; previous +1.7%)
8:30 AM ET. December Advance Monthly Sales for Retail & Food Services
Overall Sales-SA, M/M% (expected +0.4%; previous +0.8%)
Sales, Ex-Auto, M/M% (expected +0.4%; previous +1.0%)
Sales, Ex-Auto & Gas, M/M% (previous +0.8%)
10:00 AM ET. November Manufacturing & Trade: Inventories & Sales
Total Inventories (expected +0.4%; previous -0.1%)
12:00 PM ET. World Agricultural Supply & Demand Estimates (WASDE)
Corn, End Stocks (Bushels)
Soybeans, End Stocks (Bushels)
Wheat, End Stocks (Bushels)
Monday, January 15, 2018
N/A U.S: Martin Luther King Day. Financial markets closed
The STOCK INDEXES http://quotes.ino.com/ex changes/?c=indexes"
The STOCK INDEXES:The March NASDAQ 100 was steady to slightly higher overnight as it extends this year's rally into record territory. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If the NASDAQ 100 index extends this winter's rally into record territory, upside targets will be hard to project. Closes below the 20-day moving average crossing at 6506.93 would confirm that a short-term top has been posted. First resistance is the overnight high crossing at 6699.00. Second resistance is unknown. First support is the 10-day moving average crossing at 6549.57. Second support is the 20-day moving average crossing at 6506.93.
The March S&P 500 was steady to slightly higher overnight as it extends this winter's rally into record territory. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends this year's rally into uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average crossing at 2693.22 are needed to confirm that a short-term top has been posted. First resistance is the overnight high crossing at 2749.00. Second resistance is unknown. First support is the 10-day moving average crossing at 2708.94. Second support is the 20-day moving average crossing at 2693.22.
INTEREST RATES http://quotes.ino.com/ex changes/?c=interest"
INTEREST RATES: March T-bonds were lower overnight. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends this decline off January's high, December's low crossing at 150-14 is the next downside target. If March resumes the rally off December's low, December's high crossing at 154-18 is the next upside target. First resistance is January's high crossing at 153-04. Second resistance is December's high crossing at 154-18. First support is December's low crossing at 150-14. Second support is October's low crossing at 149-07.
March T-notes were slightly lower overnight as it extends last week's decline. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March resumes the decline off November's high, weekly support crossing at 122.205 is the next downside target. Closes above the 20-day moving average crossing at 123.275 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 123.275. Second resistance is the 50-day moving average crossing at 124.097. First support is the overnight low crossing at 123.095. Second support is weekly support crossing at 122.205.
ENERGY MARKETS http://quotes.ino.com/ex changes/?c=energy"
ENERGY MARKETS: FebruaryNymex crude oil was slightly higher overnight as it extends this winter's rally. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If February extends the aforementioned rally, the 50% retracement level of the 2014-2016-decline crossing at 64.11 is the next upside target. Closes below the 20-day moving average crossing at 59.27 would confirm that a short-term top has been posted. First resistance is the overnight high crossing at 62.56. Second resistance is the 50% retracement level of the 2014-2016-decline crossing at 64.11. First support is the 10-day moving average crossing at 60.90. Second support is the 20-day moving average crossing at 59.28.
February heating oil was steady to slightly higher overnight as it consolidates below the 75% retracement level of the 2014-2016-decline crossing at 208.51. However, stochastics and the RSI are turning neutral to bearish hinting that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 199.61 are needed to confirm that a short-term top has been posted. If February resumes the rally off October's low, the 87% retracement level of the 2014-2016-decline crossing at 222.40 is the next upside target. First resistance is the 75% retracement level of the 2014-2016-decline crossing at 208.51. Second resistance is the 87% retracement level of the 2014-2016-decline crossing at 222.40. First support is the 10-day moving average crossing at 205.63. Second support is the 20-day moving average crossing at 199.61.
February unleaded gas was steady to slightly higher overnight as it extends the trading range of the past two weeks. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If February resumes the rally off December's low, the May-2015 high crossing at 186.01 is the next upside target. Closes below the 50-day moving average crossing at 174.95 would confirm that a double top with November's high has been posted. First resistance is December's high crossing at 181.53. Second resistance is the May-2015 high crossing at 186.01. First support is the 50-day moving average crossing at 174.95. Second support is December's low crossing at 166.19.
February Henry natural gas was higher due to short covering overnight. Stochastics and the RSI are turning neutral to bullish hinting that a short-term low might be in or is near. If February resumes the rally off December's low, the 62% retracement level of the September-December-decline crossing at 3.108 is the next upside target. Closes below the 20-day moving average crossing at 2.785 would confirm that a short-term top has been posted.First resistance is the 62% retracement level of the September-December-decline crossing at 3.108. Second resistance is the 75% retracement level of the September-December-decline crossing at 3.225. First support is the 20-day moving average crossing at 2.785. Second support is December's low crossing at 2.562.
CURRENCIEShttp://quotes.ino.com/ex changes/?c=currencies"
CURRENCIES:The March Dollar was higher overnight as it extends Monday's short covering rebound to consolidate some of the decline off December's high. 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 92.64 are needed to confirm that a short-term low has been posted. If March resumes the decline off December's high, the 87% retracement level of the September-November-decline crossing at 91.20 is the next downside target. First resistance is the 20-day moving average crossing at 92.64. Second resistance is the 50-day moving average crossing at 93.16. First support is the 87% retracement level of the September-November-rally crossing at 91.20. Second support is September's low crossing at 90.68.
The March Euro was lower overnight as it extends the decline off last Thursday's high. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 119.60 are needed to confirm that a short-term top has been posted. If March resumes the rally off December's low, September's high crossing at 122.11 is the next upside target. First resistance is last Thursday's high crossing at 121.40. Second resistance is September's high crossing at 122.11. First support is the 20-day moving average crossing at 119.60. Second support is the 50-day moving average crossing at 118.84.
The March British Pound was lower overnight as it extends the trading range of the past five-days. Stochastics and the RSI are turning neutral to bearish hinting that a short-term top might be forming. Closes below the 20-day moving average crossing at 1.3485 would confirm that a short-term top has been posted. If March resumes the rally off November's low, September's high crossing at 1.3666 is the next upside target. First resistance is last Tuesday's high crossing at 1.3646. Second resistance is September's high crossing at 1.3666. First support is the 20-day moving average crossing at 1.3485. Second support is the 50-day moving average crossing at 1.3386.
The March Swiss Franc were sharply lower overnight. Stochastics and the RSI are neutral to bearish signaling that a short-term top might be in or is near. Closes below the 50-day moving average crossing at 1.0202 would confirm that a short-term top has been posted. If March resumes the rally off December's low, the 50% retracement level of the July-October-rally crossing at 1.0411 is the next upside target. First resistance is January's high crossing at 1.0365. Second resistance is the 50% retracement level of the July-October-rally crossing at 1.0411. First support is the 50-day moving average crossing at 1.0202. Second support is December's low crossing at 1.0103.
The March Canadian Dollar was steady to slightly lower overnight as it consolidates some of the rally off December's low. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the aforementioned rally, the 75% retracement level of the September-December-decline crossing at 81.41 is the next upside target. Closes below the 20-day moving average crossing at 79.01 would confirm that a short-term top has been posted. First resistance is last Friday's high crossing at 81.00. Second resistance is the 75% retracement level of the September-December-decline crossing at 81.41. First support is the 10-day moving average crossing at 79.91. Second support is the 20-day moving average crossing at 79.01.
The March Japanese Yen was higher overnight. Stochastics and the RSI are turning neutral to bullish hinting that a low might be in or is near. If March resumes the rally off the December 21st reaction low, December's high cross at .8981 is the next upside target. If March renews the decline off November's high, November's low crossing at 0.8782 is the next downside target. First resistance is December's high crossing at 0.8981. Second resistance is the 50% retracement level of the September-November-decline crossing at 0.9072. First support is December's low crossing at 0.8840. Second support is November's low crossing at 0.8782.
PRECIOUS METALS http://quotes.ino.com/ex changes/?c=metals"
PRECIOUS METALS: February gold were lower due to profit taking as it consolidates some of the rally off December's low. Stochastics and the RSI are overbought 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 1285.30 are needed to confirm that a short-term top has been posted. If February resumes the aforementioned rally, the 75% retracement level of the September-December-decline crossing at 1334.00 is the next upside target. First resistance is the 75% retracement level of the September-December-decline crossing at 1334.00. Second resistance is the 87% retracement level of the September-December-decline crossing at 1349.30. First support is the 10-day moving average crossing at 1309.60. Second support is the 20-day moving average crossing at 1285.30.
March silver was slightly lower overnight. Stochastics and the RSI are overbought 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 16.561 are needed to confirm that a short-term top has been posted. If March extends the rally off December's low, the 75% retracement level of the September-December-decline crossing at 17.686 is the next upside target. First resistance is the 62% retracement level of the September-December-decline crossing at 17.325. Second resistance is the 75% retracement level of the September-December-decline crossing at 17.686. First support is the 10-day moving average crossing at 17.040. Second support is the 20-day moving average crossing at 16.561.
March copper was steady to slightly lower overnight. The low-range trade sets the stage for a steady to lower opening when the day 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 319.53 are needed to confirm that a short-term top has been posted. If March resumes the rally off December's low, the August-2013 high crossing at 334.05 is the next upside target. First resistance is December's high crossing at 332.20. Second resistance is the August-2013 high crossing at 334.05. First support is the 20-day moving average crossing at 319.53. Second support is the 50-day moving average crossing at 313.73.
GRAINS http://quotes.ino.com/ex changes/?c=grains
March corn was higher overnight as it consolidates some of Monday's decline. The high-range trade overnight sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are neutral to bearish signaling that a sideways to lower prices are possible near-term. If March extends the decline off last week's high, December's low crossing at 3.46 1/2 is the next downside target. Multiple closes above the 50-day moving average crossing at 3.53 3/4 are needed to confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 3.53 3/4. Second resistance is December's high crossing at 3.60 1/2. First support is December's low crossing at 3.46 1/2. Second support is weekly support crossing at 3.32.
March wheat was steady to fractionally lower overnight.Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 4.24 1/4 are needed to confirm that a short-term top has been posted. Closes above the reaction high crossing at 4.37 are needed to confirm that an important low has been posted. First resistance is the reaction high crossing at 4.37. Second resistance is December's high crossing at 4.43. First support is December's low crossing at 4.10 1/2. Second support is psychological support crossing at 4.00.
March Kansas City Wheat closed down 4 1/4-cents at 4.33 1/4.
March Kansas City wheat closed lower on Monday as it consolidated some of the rally off December's low but remain above the 50-day moving average crossing at 4.32. The low-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are overbought 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 4.24 1/4 would confirm that a short-term top has been posted. If March extends the rally off December's low, November's high crossing at 4.51 1/2 is the next upside target. First resistance is last Thursday's high crossing at 4.41 3/4. Second resistance is November's high crossing at 4.51 1/2. First support is December's low crossing at 4.10 1/2. Second support is psychological support crossing at 4.00.
March Minneapolis wheat was lower overnight. The mid-range overnight trade sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are overbought and are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If March renews the decline off November's high, the 87% retracement level of the April-July-rally crossing at 5.89 1/2 is the next downside target. Closes above the 50-day moving average crossing at 6.28 1/2 are needed to confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 6.28 1/2. Second resistance is December's high resistance crossing at 6.34. First support is December's low crossing at 6.05. Second support is the 87% retracement level of the April-July-rally crossing at 5.89 1/2.
SOYBEAN COMPLEX? http://quotes.ino.com/ex?changes/?c=grains "
March soybeans was lower overnight. The low-range overnight trade sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 9.70 1/4 are needed to confirm that a short-term low has been posted. If March resumes the decline off December's high, the late-August low crossing at 9.50 is the next downside target. First resistance is the 20-day moving average crossing at 9.70 1/4. Second resistance is the 50-day moving average crossing at 9.89. First support is December's low crossing at 9.54 3/4. Second support is the late-August low crossing at 9.50.
March soybean meal was lower overnight. The low-range trade overnight sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI remain neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 324.10 are needed to confirm that a low has been posted. If March resumes the decline off December's high, November's low crossing at 315.00 is the next downside target. First resistance is the 50-day moving average crossing at 324.10. Second resistance is the reaction high crossing at 331.20. First support is last Thursday's low crossing at 315.50. Second support is November's low crossing at 315.00.
March soybean oil was lower overnight as it extends Monday's decline. The low-range overnight trade sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 33.37 would temper the near-term friendly outlook. If March resumes the rally off December's low, the 50-day moving average crossing at 34.09 is the next upside target. First resistance is the 50-day moving average crossing at 34.09. Second resistance is the 62% retracement level of the November-December-decline crossing at 34.54. First support is December's low crossing at 32.52. Second support is the 87% retracement level of the June-September-rally crossing at 32.44.
LIVESTOCKhttp://quotes.ino.com/exchanges/?c=livestock
February hogs closed up $1.55 at $72.98.
February hogs closed higher on Monday. The high-range close sets the stage for a steady to higher opening when Tuesday'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 February extends the rally off December's low, weekly resistance crossing at 76.91 is the next upside target. Closes below the 20-day moving average crossing at 69.50 would confirm that a short-term top has been posted. First resistance is today's high crossing at 73.40. Second resistance is weekly resistance crossing at 76.91. First support is the 10-day moving average crossing at 71.34. Second support is the 20-day moving average crossing at 69.50.
February cattle closed down $2.03 at 117.23.
February cattle closed sharply lower on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If February extends today's decline, the 75% retracement level of the August-November-rally crossing at 115.05 is the next downside target. Closes above the 10-day moving average crossing at 120.98 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 120.98. Second resistance is the 50-day moving average crossing at 123.53. First support is the 75% retracement level of the August-November-rally crossing at 115.05. Second support is the 87% retracement level of the August-November-rally crossing at 112.35.
March Feeder cattle closed down $0.05 at $141.93.
March Feeder cattle closed slightly lower on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday's session begins trading. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends this month's decline, December's low crossing at 138.30 is the next downside target. Closes above the 50-day moving average crossing at 148.71 would confirm that a low has been posted. First resistance is the 50-day moving average crossing at 148.71. Second resistance is the reaction high crossing at 154.05. First support is today's low crossing at 140.55. Second support is December's low crossing at 138.30.
FOOD & FIBERhttp://quotes.ino.com/ex changes/?c=food
March coffee closed lower on Monday. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI 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 12.35 would confirm that a short-term top has been posted. If March extends the rally off December's low, November's high crossing at 13.30 is the next upside target.
March cocoa closed higher on Monday. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are neutral to bullish signaling that sideways to lower prices are possible near-term. If March extends the rally off December's low, the 50-day moving average crossing at 20.12 is the next upside target. If March renews the decline off November's high, weekly support crossing at 17.91 is the next downside target.
March sugar closed lower on Monday as it consolidates some of the rally off December's low. The mid-range close set the stage for a steady to lower opening on Tuesday. 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 14.53 would confirm that a short-term top has been posted. If March extends the aforementioned rally, November's high crossing at 15.49 is the next upside target.
March cotton posted an inside day with a lower close on Monday. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI 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 76.58 are needed to confirm a short-term top has been posted. If March extends the rally off October's low, weekly resistance crossing at 80.67 is the next upside target.