KEY EVENTS TO WATCH FOR:

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 March NASDAQ 100 closed higher on Thursday and into record highs as it extends this year's rally. The high-range close sets the stage for a steady to higher opening when Friday'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 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 6534.13 are needed to confirm that a short-term top has been posted. First resistance is today's high crossing at 6713.00. Second resistance is unknown. First support is the 10-day moving average crossing at 6595.18. Second support is the 20-day moving average crossing at 6534.13.  

The March S&P 500 closed higher on Thursday as it extended this winter's rally into record territory. The high-range close sets the stage for a steady to higher opening when Friday'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 March extends this winter's rally into uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average crossing at 2702.49 are needed to confirm that a short-term top has been posted. First resistance is today's high crossing at 2765.00. Second resistance is unknown. First support is the 10-day moving average crossing at 2723.72. Second support is the 20-day moving average crossing at 2702.49. 

The Dow closed higher on Thursday as it extends this winter's rally into record territory. Investors shrugged off weaker-than-expected jobless claims and wholesale inflation data. Traders and investors are gearing up for the start of fourth-quarter earnings, which could provide the catalyst investors are looking for to extend the strong start to 2018.The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bearish signaling that sideways to higher prices are possible near-term. With the Dow trading in uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average crossing at 24,914.67 would confirm that a short-term top has been posted. First resistance is today's high crossing at 25,530.74. Second resistance is unknown. First support is the 10-day moving average crossing at 25,121.89. Second support is the 20-day moving average crossing at 24,914.78.    

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March T-bonds closed up 9/32's at 150-11.

March T-bonds closed higher on Thursday as it consolidated some of this week's decline. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are oversold but are turning neutral to bullish signaling that a low might be in or is near. Closes above the 50-day moving average crossing at 152-13 would confirm that a short-term low has been posted. If March extends the decline off December's high, weekly support crossing at 145-26 is the next downside target.First resistance is the reaction high crossing at 153-03. Second resistance is December's high crossing at 154-18. First support is Wednesday's low crossing at 149-03. Second support is weekly support crossing at 145-26.   

March T-notes closed up 25/32's at 123-025.

March T-notes closed higher on Thursday as it consolidated some of the decline off September's high. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are oversold but are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 123.233 are needed to confirm that a low has been posted. If March extends the aforementioned decline, weekly support crossing at 122.205 is the next downside target. First resistance is the 20-day moving average crossing at 123.233. Second resistance is the 50-day moving average crossing at 124.076. First support is Wednesday's low crossing at 122.225. Second support is weekly support crossing at 122.205.   

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February crude oil closed higher on Thursday and spiked above the 50% retracement level of the 2014-2016-decline crossing at 64.11.Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. The low-range close sets the stage for a steady to lower opening when Friday's night session begins. If February extends this winter's rally, the 62% retracement level of the 2014-2016-decline crossing at 70.21 is the next upside target. Closes below the 20-day moving average crossing at 59.94 would confirm that a short-term top has been posted. First resistance is today's high crossing at 64.77. Second resistance is the 62% retracement level of the 2014-2016-decline crossing at 70.21. First support is the 10-day moving average crossing at 61.85. Second support is the 20-day moving average crossing at 59.94. 

February heating oil closed slightly lower on Thursday. The low-range close sets the stage for a steady to lower opening when Friday's night trading session begins. 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 October's low, the 87% retracement level of the 2014-2016-decline crossing at 222.40 is the next upside target. Closes below the 20-day moving average crossing at 201.06 would confirm that a short-term top has been posted. First resistance is the 75% retracement level of the 2014-2016-decline crossing at 208.60. Second resistance is the 87% retracement level of the 2014-2016-decline crossing at 222.40. First support is the 20-day moving average crossing at 201.06. Second support is the 50-day moving average crossing at 195.56.   

February unleaded gas closed slightly higher on Thursday as it extends the rally off December's low. The low-range close sets the stage for a steady to lower opening when Friday'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 February extends the rally off December's low, weekly resistance crossing at 192.35 is the next upside target. Closes below the 50-day moving average crossing at 175.59 would confirm that a short-term top has been posted. First resistance is today's high crossing at 186.02. Second resistance is weekly resistance crossing at 192.35. First support is the 50-day moving average crossing at 175.59. Second support is December's low crossing at 166.19.   

February Henry natural gas closed higher on Thursday. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If February renews the rally off December's low, the reaction high crossing at 3.210 is the next upside target. Closes below the 20-day moving average crossing at 2.811 are needed to confirm that a short-term top has been posted. First resistance is the reaction high crossing at 3.097. Second resistance is the reaction high crossing at 3.210. First support is the reaction low crossing at 2.746. Second support is December's low crossing at 2.562. 

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The March Dollar closed sharply lower on Thursday. The low-range close sets the stage for a steady to lower opening when Friday'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 March resumes the decline off December's high, the 87% retracement level of the September-November-rally crossing at 91.20 is the next downside target. Closes above the 20-day moving average crossing at 92.46 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 92.46. Second resistance is the 50-day moving average crossing at 93.06. 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 closed higher on Thursday as it consolidated some of this week's decline. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If March resumes the aforementioned rally, September's high crossing at 122.11 is the next upside target. Closes below the 20-day moving average crossing at 119.82 would confirm that a short-term top has been posted. 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 119.82. Second support is the 50-day moving average crossing at 118.96.     

The March British Pound closed higher on Thursday. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 1.3503 would confirm that a short-term top has been posted. If March renews the rally off November's low, September's high crossing at 1.3695 is the next upside target. First resistance is last Wednesday's high crossing at 1.3646. Second resistance is September's high crossing at 1.3695. First support is the 20-day moving average crossing at 1.3503. Second support is the 50-day moving average crossing at 1.3399.     

The March Swiss Franc closed higher on Thursday. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. If March resumes the rally off October's low, the 50% retracement level of the July-September-decline crossing at 1.0412 is the next upside target. Closes below the 50-day moving average crossing at 1.0207 are needed to confirm that a short-term top has been posted. First resistance is last Tuesday's high crossing at 1.0365. Second resistance is the 50% retracement level of the July-September-decline crossing at 1.0412. First support is the 50-day moving average crossing at 1.0207. Second support is the reaction low crossing at 1.0159.  

The March Canadian Dollar closed slightly higher on Thursday. The high-range close sets the stage for a steady to higher opening when Friday'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 79.19 are needed to confirm that a short-term top has been posted. If March resumes the rally off December's low, the 75% retracement level of the September-December-decline crossing at 81.41 is the next upside target. 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 20-day moving average crossing at 79.19. Second support is the 50-day moving average crossing at 78.70.  

The March Japanese Yen closed higher on Thursday. The high-range close sets the stage for a steady to higher opening when Friday’s night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off December's low, November's high crossing at 0.9073 is the next upside target. Closes below the 50-day moving average crossing at 0.8914 would confirm that a short-term top has been posted. First resistance is today's high crossing at 0.9036. Second resistance is November's high crossing at 0.9073. First support is December's low crossing at 0.8840. Second support is November's low crossing at 0.8782.  

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February gold closed higher on Thursday. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher price are possible near-term. If February extends the aforementioned rally, the 75% retracement level of the September-December-decline crossing at 1334.00 is the next upside target. Closes below the 20-day moving average crossing at 1292.70 would confirm that a short-term top has been posted. First resistance is Wednesday's high crossing at 1328.60. Second resistance is the 75% retracement level of the September-December-decline crossing at 1334.00. First support is the 10-day moving average crossing at 1315.60. Second support is the 20-day moving average crossing at 1292.70.

March silver closed slightly higher on Thursday. The high-range close set the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 16.686 are needed to confirm that a short-term top has been posted. If March extends the rally off December's low, November's high crossing at 17.485 is the next upside target. First resistance is the 62% retracement level of the September-December-decline crossing at 17.325. Second resistance is November's high crossing at 17.485. First support is the 50-day moving average crossing at 16.736. Second support is the 20-day moving average crossing at 16.686.     

March copper closed slightly lower on Thursday.The mid-range close sets the stage for a steady to lower opening when Friday'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 321.61 would 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-13 high crossing at 334.05. First support is the 20-day moving average crossing at 321.61. Second support is the 50-day moving average crossing at 314.13.       

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March Corn closed down a 1/4-cent at 3.48 3/4. 

March corn closed fractionally lower on Thursday.The low-range close sets the stage for a steady to lower opening when Friday'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 December's low crossing at 3.46 1/2 would renew the decline off last year's high while opening the door for a possible test of weekly support crossing at 3.32. Closes above the reaction high crossing at 3.54 3/4 are needed to confirm that a short-term low has been posted. First resistance is the reaction high crossing at 3.54 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 closed down a 1/2-cent at 4.33 3/4. 

March wheat closed fractionally lower on Thursday. The high-range close sets the stage for a steady to higher opening when Friday'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 reaction high crossing at 4.37 are needed to confirm that a short-term low has been posted. Closes below the 20-day moving average crossing at 4.26 1/2 would confirm that a short-term top has been posted. First resistance is the reaction high crossing at 4.37. Second resistance is December's high crossing at 4.60 3/4. 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 a 1/4-cent at 4.40 1/4. 

March Kansas City wheat closed fractionally lower on Thursday as it consolidates above the 50-day moving average crossing at 4.32. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are overbought but remain neutral to bullish again signaling that sideways to higher prices are possible near-term. If March extends the rally off December's low, November's high crossing at 4.51 1/2 is the next upside target. Closes below the 20-day moving average crossing at 4.28 1/4 would confirm that a short-term top has been posted. 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 the 20-day moving average crossing at 4.28 1/4. Second support is December's low crossing at 4.10 1/2.   

March Minneapolis wheat closed down 5-cents at 6.29. 

March Minneapolis wheat closed lower on Thursday as it consolidated some of the rally off December's low. The low-range close sets the stage for a steady to lower opening when Friday'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 March extends the aforementioned rally, the reaction high crossing at 6.51 is the next upside target. Closes below the 20-day moving average crossing at 6.20 1/2 would confirm that a short-term top has been posted. First resistance is Wednesday's high crossing at 6.34 1/2. Second resistance is the reaction high resistance crossing at 6.51. 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. 

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March soybeans closed down 6-cents at 9.49. 

March soybeans closed lower on Thursday as it extends the decline off December's high. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off December's high, August low crossing at 9.37 1/2 is the next downside target. Closes above the reaction high crossing at 9.77 are needed to confirm that a short-term low has been posted. First resistance is the reaction high crossing at 9.77. Second resistance is the 50-day moving average crossing at 9.87. First support is today's low crossing at 9.49. Second support is August's low crossing at 9.37 1/2.

March soybean meal closed down $3.70 at 312.70. 

March soybean meal closed lower on Thursday as it renewed the decline off December's high. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off December's high, the 75% retracement level of the August-December-rally crossing at 312.00 is the next downside target. Closes above the 50-day moving average crossing at 323.90 are needed to confirm that a low has been posted. First resistance is the 50-day moving average crossing at 323.90. Second resistance is the reaction high crossing at 331.20. First support is today's low crossing at 312.50. Second support is August's low crossing at 299.10.

March soybean oil closed down 34 pts. At 33.11. 

March soybean oil closed lower on Thursday. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends today's decline, December's low crossing at 32.52 is the next downside target. If March resumes the rally off December's low, the 50-day moving average crossing at 34.02 is the next upside target. First resistance is the 50-day moving average crossing at 34.02. Second resistance is the reaction high crossing at 34.89. 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. 

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February hogs closed down $1.55 at $70.98. 

February hogs closed lower on Thursday. The low-range close sets the stage for a steady to lower opening when Friday's 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 70.21 would confirm that a short-term top has been posted. If February extends the rally off December's low, weekly resistance crossing at 76.91 is the next upside target. First resistance is Wednesday's high crossing at 73.68. Second resistance is weekly resistance crossing at 76.91. First support is the 20-day moving average crossing at 70.21. Second support is the 50-day moving average crossing at 69.89. 

February cattle closed up $0.20 at 117.08. 

February cattle closed higher on Thursday as it consolidates some of this month's decline. The high-range close sets the stage for a steady to higher opening when Friday'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 February extends the aforementioned 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 120.04 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 120.04. Second resistance is the 50-day moving average crossing at 122.98. 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 $0.85 at $141.38. 

March Feeder cattle closed lower on Thursday. The mid-range close sets the stage for a steady to lower opening when Friday's session begins trading. Stochastics and the RSI are 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 148.03 are needed to confirm that a low has been posted. First resistance is the 50-day moving average crossing at 148.03. Second resistance is the reaction high crossing at 154.05. First support is Tuesday's low crossing at 140.12. Second support is December's low crossing at 138.30.   

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March coffee closed lower on Thursday as it extends this month's decline. 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 a short-term top might be in or is near. Today's close below the 20-day moving average crossing at 12.41 confirms that a short-term top has been posted. If March renews the rally off December's low, November's high crossing at 13.30 is the next upside target. 

March cocoa closed lower on Thursday. The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off December's low, the 50-day moving average crossing at 20.00 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 Thursday as it extends this month's decline. The low-range close set 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. Today's close below the 20-day moving average crossing at 14.66 confirms that a short-term top has been posted. If March extends this month's decline, December's low crossing at 13.64 is the next downside target. Closes above the 10-day moving average crossing at 14.95 would confirm that a short-term low has been posted.

March cotton closed limit up on Thursday as it extends the rally off October's low. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off October's low, weekly resistance crossing at 84.54 is the next upside target. Closes below the 20-day moving average crossing at 77.63 are needed to confirm a short-term top has been posted.