KEY EVENTS TO WATCH FOR:

Wednesday, August 1, 2018  

7:00 AM ET. MBA Weekly Mortgage Applications Survey

                       Composite Idx (previous 362.4)

                       Composite Idx, W/W% (previous -0.2%)

                       Purchase Idx-SA (previous 245.5)

                       Purchase Idx-SA, W/W% (previous -1.0%)

                       Refinance Idx (previous 988.6)

                       Refinance Idx, W/W% (previous +0.9%)

8:15 AM ET. July ADP National Employment Report

Private Sector Jobs, Net Chg (expected +185000; previous +177000)

8:30 AM ET. U.S. Department of the Treasury's quarterly refundingannouncement

9:45 AM ET. July US Manufacturing PMI

                       PMI, Mfg (expected 55.5; previous 55.4)

10:00 AM ET. June Construction Spending - Construction Put in Place

                       New Construction (previous +0.3%; previous +0.4%)

                       Residential Construction

10:00 AM ET. June Metropolitan Area Employment & Unemployment

10:00 AM ET. July ISM Manufacturing Report on Business

                       Manufacturing PMI (expected 59.5; previous 60.2)

                       Prices Idx (previous 76.8)

                       Employment Idx (previous 56.0)

                       Inventories (previous 50.8)

                       New Orders Idx (previous 63.5)

                       Production Idx (previous 62.3)

10:00 AM ET. July Online Help Wanted Index

10:30 AM ET. EIA Weekly Petroleum Status Report

                       Crude Oil Stocks (Bbl) (previous 404.937M)

                       Crude Oil Stocks, Net Chg (Bbl) (previous -6.147M)

                       Gasoline Stocks (Bbl) (previous 233.504M)

                       Gasoline Stocks, Net Chg (Bbl) (previous -2.328M)

                       Distillate Stocks (Bbl) (previous 121.21M)

                       Distillate Stocks, Net Chg (Bbl) (previous -0.101M)

                       Refinery Usage (previous 93.8%)

                       Total Prod Supplied (Bbl/day) (previous 21.7M)

                       Total Prod Supplied, Net Chg (Bbl/day) (previous +0.398M)

11:00 AM ET. July Global Manufacturing PMI

                       PMI, Mfg (previous 53)

2:00 PM ET. U.S. interest rate decision

                       Federal Funds Rate

                       Federal Funds Rate Change (Pts)

                       Fed Funds Rate-Range High (previous 2.00)

                       Fed Funds Rate-Range Low (previous 1.75)

                       FOMC Vote For Action (previous 8)

                       FOMC Vote Against Action (previous 0)

                       Discount Rate (previous 2.50)

                       Discount Rate Change (Pts) (previous +0.25)

                       Discount Rate-Range High

                       Discount Rate-Range Low

4:00 PM ET. July Domestic Auto Industry Sales

                       Auto Sales Annualized (expected 17.10M; previous 17.47M)

Thursday, August 2, 2018  

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

                       Job Cuts, M/M% (previous +18%)

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

                       Corn (Metric Tons) (previous 1086K)

                       Soybeans (Metric Tons) (previous 1501.9K)

                       Wheat (Metric Tons) (previous 385.9K)

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

                       Jobless Claims (expected 220K; previous 217K)

                       Jobless Claims, Net Chg (previous +9K)

                       Continuing Claims (previous 1745000)

                       Continuing Claims, Net Chg (previous -8K)

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

                       Business Index (previous 55.0)

9:45 AM ET. Bloomberg Consumer Comfort Index

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

                       Total Orders, M/M% (expected +0.7%; previous +0.4%)

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

                       Orders, Ex-Transport, M/M% (previous +0.7%)

                       Durable Goods, M/M% (previous -0.6%)

                       Durable Goods, M/M% (previous -0.4%)

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

                       Working Gas In Storage (Cbf) (previous 2273B)

                       Working Gas In Storage, Net Chg (Cbf) (previous +24B)

2:00 PM ET. SEC Closed Meeting

4:30 PM ET. Federal Discount Window Borrowings

4:30 PM ET. Foreign Central Ban Holdings

4:30 PM ET. Money Stock Measures

Friday, August 3, 2018  

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

                       Non-Farm Payrolls (expected +190K; previous +213K)

                       Unemployment Rate (expected 3.9%; previous 4.0%)

                       Avg Hourly Earnings (USD) (previous 26.98)

                       Avg Hourly Earnings-Net Chg (USD) (previous +0.05)

                       Avg Hourly Earnings, M/M% (expected +0.2%; previous +0.19%)

                       Avg Hourly Earnings, Y/Y% (previous +2.7%)

                       Overall Workweek (previous 34.5)

                       Overall Workweek Net Chg (previous +0)

                       Government Payrolls (previous +11K)

                       Private Payroll (previous +202K)

                       Participation Rate (previous 62.9%)

                       Non-Farm Payrolls Bench Net Chg

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

                       Trade Balance (USD) (expected -46.6B; previous -43.05B)

                       Exports (USD) (previous 215.33B)

                       Exports, M/M% (previous +1.9%)

                       Imports (USD) (previous 258.38B)

                       Imports, M/M% (previous +0.4%)

9:45 AM ET. July US Services PMI

                       PMI, Services (expected 56.2; previous 56.5)

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

                       Non-Mfg Composite Idx (expected 58.5; previous 59.1)

                       Non-Mfg Business Idx (previous 63.9)

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

The September NASDAQ 100 closed higher on Tuesday as it bounced off key support marked by the 50-day moving average crossing at 7204.66. The high-range close sets the stage for a steady to higher opening when Wednesday'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 50-day moving average crossing at 7204.66 would open the door for additional weakness and a possible test of June's low crossing at 6956.00. Closes above the 10-day moving average crossing at 7363.18 would temper the near-term bearish outlook. First resistance is July's high crossing at 7530.00. Second resistance is unknown. First support is the 50-day moving average crossing at 7204.66. Second support is June's low crossing at 6956.00. 

The September S&P 500 closed .higher on Tuesday. The high-range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI have turned neutral to bearish signaling that a short-term top might be in or is near. Closes below the 50-day moving average crossing at 2768.23 would temper the near-term friendly outlook. If September resumes this summer's rally, January's high crossing at 2885.00 is the next upside target. First resistance is the 87% retracement level of the January-April-decline crossing at 2846.31. Second resistance is January's high crossing at 2885.00. First support is the 20-day moving average crossing at 2797.77. Second support is the 50-day moving average crossing at 2768.23.  

The Dow closed higher on Tuesday.The high-range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. 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 25,012.87 would confirm that a short-term top has been posted. If the Dow extends the rally off June's low, February's high crossing at 25,800.35 is the next upside target. First resistance is last-Thursday's high crossing at 25,587.24. Second resistance is February's high crossing at 25,800.35. First support is the 20-day moving average crossing at 25,012.87. Second support is June's low crossing at 23,997.21.      

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

September T-bonds closed up 13/32's at 143-01.

September T-bonds closed higher on Tuesday as it consolidated some of the decline off July's high. The mid-range close sets the stage for a steady to higher opening when Wednesday'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 July's high, June's low crossing at 142-01 is the next downside target. Closes above the 20-day moving average crossing at 144-14 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 144-14. Second resistance is July's high crossing at 146-11. First support is June's low crossing at 142-01. Second support is May's low crossing at 139-11.       

September T-notes closed up 15-points at 119-135.

September T-notes closed higher on Tuesday. The low-range close sets the stage for a steady to lower opening when Wednesday'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 July's high, June's low crossing at 118.295 is the next downside target. Closes above the 20-day moving average crossing at 119.303 would confirm that a low has been posted. First resistance is July's high crossing at 120.200. Second resistance is May's high crossing at 121.030. First support is June'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 ""

September crude oil closed lower on Tuesday as it consolidated some of the rally off July's low. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins. Stochastics and the RSI remain neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off July's low, July's high crossing at 72.98 is the next upside target. If September resumes the decline off July's high, June's low crossing at 62.99 is the next downside target. First resistance is July's high crossing at 72.98. Second resistance is the 75% retracement level of the 2014-2016-decline crossing at 77.18.First support is July's low crossing at 66.29. Second support is June's low crossing at 62.99. 

September heating oil closed lower on Tuesday. The low-range close sets the stage for a steady to lower opening when Wednesday's night trading session begins. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off July's low, July's high crossing at 223.88 is the next upside target. Closes below the 10-day moving average crossing at 213.84 would confirm that a short-term top has been posted. First resistance is July's high crossing at 223.88. Second resistance is May's high crossing at 229.73. First support is the 10-day moving average crossing at 213.84. Second support is the 50% retracement level of the February-May-rally crossing at 205.59.

September unleaded gas closed lower on Tuesday. The low-range close sets the stage for a steady to lower opening when Wednesday'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 10-day moving average crossing at 207.04 would confirm that a short-term top has been posted. If September renews the rally off July's low, July's high crossing at 215.31 is the next upside target. First resistance is July's high crossing at 215.31. Second resistance is May's high crossing at 224.67. First support is the 62% retracement level of the February-May-rally crossing at 196.03. Second support is the 75% retracement level of the February-May-rally crossing at 189.92.

September Henry natural gas closed lower on Tuesday as it consolidated some of the rally off July's low. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI remain neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off July's low, the 50-day moving average crossing at 2.858 is the next upside target. Closes below the 10-day moving average crossing at 2.746 would confirm that a short-term top has been posted. First resistance is the 50-day moving average crossing at 2.858. Second resistance is the reaction high crossing at 2.992. First support is the 10-day moving average crossing at 2.746. Second support is July's low crossing at 2.671.   

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

The September Dollar closed higher on Tuesday as it extended a seven-day trading range. The high-range close sets the stage for a steady to higher opening when Wednesday'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 50-day moving average crossing at 94.10 would confirm that a short-term top has been posted. If September renews the rally off July's low, weekly resistance crossing at 97.70 is the next upside target. First resistance is July's high crossing at 95.44. Second resistance is weekly resistance crossing at 97.70. First support is the 50-day moving average crossing at 94.10. Second support is June's low crossing at 92.76.    

The September Euro closed lower on Tuesday while extending the May-July-trading range. The low-range close sets the stage for a steady to lower opening when Wednesday'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 renews the rally off June's low, June's high crossing at 119.40 is the next upside target. If September resumes the decline off July's high, June's low crossing at 115.82 is the next downside target. First resistance is the 50-day moving average crossing at 117.54. Second resistance is June's high crossing at 119.40. 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 lower on Tuesday. The mid-range close sets the stage for a steady opening when Wednesday's night session begins trading. Stochastics and the RSI are turning neutral to bullish hinting that a low might be in or is near. Closes above the 50-day moving average crossing at 1.3293 are needed to confirm that a short-term low has been posted. If September extends the decline off April's high, the 75% retracement level of the 2016-2018-rally crossing at 1.2857 is the next downside target. First resistance is the 50-day moving average crossing at 1.3293. Second resistance is June's high crossing at 1.3533. First support is July's low crossing at 1.2988. Second support is the 75% retracement level of the 2016-2018-rally crossing at 1.2857. 

The September Swiss Franc closed lower on Tuesday. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that a low might be in or is near. If September extends the rally off July's low, June's high crossing at 1.0302 is a potential upside target. If September resumes the decline off February's high, the 62% retracement level of the 20016-2018-rally on the weekly continuation chart crossing at 0.8880 is the next downside target. First resistance is July's high crossing at 1.0204. Second resistance is June's high crossing at 1.0302. First support is July's low crossing at 0.9984. Second support is the 62% retracement level of the 20016-2018-rally on the weekly continuation chart crossing at 0.8880.

The September Canadian Dollar closed higher on Tuesday as it extended the rally off July's low. The high-range close sets the stage for a steady to higher opening when Wednesday'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 June's low, June's high crossing at 77.94 is the next upside target. Closes below the 20-day moving average crossing at 76.25 would temper the near-term friendly outlook. First resistance is today's high crossing at 77.04. Second resistance is June's high crossing at 77.94. First support is July's low crossing at 75.31. Second support is June's low crossing at 74.80.  

The September Japanese Yen closed sharply lower on Tuesday. The low-range close sets the stage for a steady to lower opening when Wednesday’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 September renews the decline off May's high, the December-2016 low crossing at 0.8805 is the next downside target. If September extends the rally off July's low, the 50-day moving average crossing at 0.9090 is the next upside target. First resistance is the 50-day moving average crossing at 0.9090. Second resistance is the reaction high crossing at 0.9198. First support is July's low crossing at 0.8867. Second support is the December-2016 low crossing at 0.8805.   

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

October gold closed lower on Tuesday. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are diverging but remain neutral signaling that sideways prices are possible near-term. If October extends the decline off April's high, the 87% retracement level of the 2016-2018 rally crossing at 1190.90 is the next downside target. Closes above the 20-day moving average crossing at 1241.70 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 1241.70. Second resistance is July's high crossing at 1266.90. First support is the 75% retracement level of the 2016-2018 rally crossing at 1217.90. Second support is the 87% retracement level of the 2016-2018 rally crossing at 1190.90.

September silver closed higher due to short covering on Tuesday. The high-range close set the stage for a steady to higher opening when Wednesday's night session begins trading. 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 15.722 are needed to confirm that a short-term low has been posted. If September renews the decline off June's high, weekly support crossing at 15.145 is the next downside target. First resistance is the 20-day moving average crossing at 15.722. Second resistance is July's high crossing at 16.260. First support is July's low crossing at 15.185. Second support is weekly support crossing at 15.145.        

September copper closed higher on Tuesday. The high-range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI are resuming their neutral to bullish posture signaling that sideways to higher prices are possible near-term. If September extends the rally off July's low, the 50-day moving average crossing at 299.28 is the next upside target. If September extends the decline off June's high, the 62% retracement level of the 2016-2018 rally crossing at 250.74 is the next downside target. First resistance is last-Wednesday's high crossing at 286.70. Second resistance is the 50-day moving average crossing at 299.28. First support is July's low crossing at 267.35. Second support is the 62% retracement level of the 2016-2018 rally crossing at 250.74. 

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

December Corn closed up 5-cents at 3.86 1/4. 

December corn closed higher on Tuesday as it extends the rally off July's low.The high-range close sets the stage for a steady to higher opening when Wednesday'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 December extends the rally off July's low, the 50% retracement level of the May-July-decline crossing at 3.89 3/4 is the next upside target. Closes below the 20-day moving average crossing at 3.66 1/2 are needed to confirm that a short-term top has been posted. First resistance is the 50% retracement level of the May-July-decline crossing at 3.89 3/4. Second resistance is the 62% retracement level of the May-July-decline crossing at 3.99. First support is the 20-day moving average crossing at 3.66 1/2. Second support is July's low crossing at 3.50 1/4.  

December wheat closed up 7 3/4-cents at 5.74 1/4. 

December wheat closed higher on Tuesday as it extended the rally off July's low. The mid-range close sets the stage for a steady to higher opening when Wednesday'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 December extends the rally off July's low, June's high crossing at 5.75 1/2 is the next upside target. Closes below the 20-day moving average crossing at 5.26 3/4 would confirm that a short-term top has been posted. First resistance is June's high crossing at 5.75 1/2. Second resistance is May's high crossing at 5.88. First support is the 10-day moving average crossing at 5.42 3/4. Second support is the 20-day moving average crossing at 5.26 3/4.        

December Kansas City Wheat closed up 9 1/2-cents at 5.84 1/4. 

December Kansas City wheat closed higher on Tuesday. The high-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off July's low, June's high crossing at 5.97 3/4 is the next upside target. Closes below the 20-day moving average crossing at 5.32 would confirms that a short-term top has been posted. First resistance is today's high crossing at 5.91. Second resistance is June's high crossing at 5.97 3/4. First support is 10-day moving average crossing at 5.48 1/2. Second support is the 20-day moving average crossing at 5.32. 

December Minneapolis wheat closed up 7 1/4-cents at 6.22 3/4. 

December Minneapolis wheat closed higher on Tuesday.The high-range close sets the stage for a steady to higher opening when Wednesday'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 December extends the rally off July's low, the reaction high crossing at 6.32 1/2 is the next upside target. Closes below the 20-day moving average crossing at 5.71 1/4 would confirm that a short-term top has been posted. First resistance is the reaction high crossing at 6.32 1/2. Second resistance is May's high crossing at 6.60 1/2. First support is the 50-day moving average crossing at 5.91. Second support is the 10-day moving average crossing at 5.87 1/4.  

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

November soybeans closed up 27-cents at 9.18. 

November soybeans closed sharply higher on Tuesday as it extends the rally off July's low. The high-range close sets the stage for a steady to higher opening when Wednesday'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 November extends the aforementioned rally, the 50% retracement level of the May-July-decline crossing at 9.42 3/4 is the next upside target. Closes below the 20-day moving average crossing at 8.68 are needed to confirm that a short-term top has been posted. First resistance is the 50-day moving average crossing at 9.28 3/4. Second resistance is the 50% retracement level of the May-July-decline crossing at 9.42 3/4. First support is the 20-day moving average crossing at 8.68. Second support is July's low crossing at 8.26 1/4.

December soybean meal closed up $7.60 at 341.30. 

December soybean meal closed higher on Tuesday and above the reaction high crossing at 338.90 confirming that a short-term low has been posted. The high-range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off July's low, the50-day moving average crossing at 344.40 is the next upside target. Closes below the 20-day moving average crossing at 328.60 would temper the near-term friendly outlook. First resistance is the 50-day moving average crossing at 344.40. Second resistance is the 38% retracement level of the May-July-decline crossing at 348.60. First support is July's low crossing at 321.50. Second support is January's low crossing at 318.40. 

December soybean oil closed up 44-points. At 29.29. 

December soybean oil closed higher on Tuesday as it extends the rally off July's low. The high-range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible. If December extends the rally off July's low, the 50-day moving average crossing at 30.07 is the next upside target. Closes below the 10-day moving average crossing at 28.67 would temper the near-term friendly outlook. First resistance is today's high crossing at 29.39. Second resistance is the 50-day moving average crossing at 30.07. First support is July's low crossing at 27.95. Second support is weekly support crossing at 26.99.

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

October hogs closed down $0.50 at $50.73. 

October hogs closed lower on Tuesday. The low-range close sets the stage for a steady to lower opening when Wednesday's 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 October extends the decline off June's high, weekly support crossing at 46.24 is the next downside target. Closes above the 20-day moving average crossing at 53.74 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 53.74. Second resistance is the 50-day moving average crossing at 59.10. First support is today's low crossing at 50.12. Second support is weekly support crossing at 46.24.  

October cattle closed down $0.50 at 109.50. 

October cattle close lower on Tuesday. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at 107.88 would confirm that a short-term top has been posted. If October extends the rally off July's low, July's high crossing at 111.53 is the next upside target. First resistance is the 62% retracement level of the February-May-decline crossing at 111.23. Second resistance is the 75% retracement level of the February-May-decline crossing at 113.33. First support is the reaction low crossing at 105.13. Second support is June's low crossing at 103.50.  

August Feeder cattle closed down $2.18 at $149.33. 

August Feeder cattle closed lower on Tuesday as it extends the decline off July's high. The low-range close sets the stage for a steady to lower opening when Wednesday'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 148.70 would open the door for additional weakness near-term. If August renews the rally off May's low, is February's high crossing at 155.98 is the next upside target. First resistance is July's high crossing at 154.93. Second resistance is February's high crossing at 155.98. First support is the 50-day moving average crossing at 148.70. Second support is July's low crossing at 147.82.   

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

September coffee closed lower on Tuesday. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Multiple closes above the 20-day moving average crossing at 11.10 would confirm that a short-term low has been posted. If September extends the decline off June's high, monthly support crossing at 10.56 is the next downside target.     

September cocoa closed lower on Tuesday as it extended this month's decline. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends this month's decline, the 75% retracement level of the December-April-rally crossing at 21.18 is the next downside target. Closes above the 20-day moving average crossing at 23.64 are needed to confirm that a short-term low has been posted.

October sugar closed lower on Tuesday while extending the decline off June's high. The low-range close set the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are oversold but remains neutral to bearish signaling that sideways to lower prices are possible near-term. If October extends the decline off June's high, weekly support crossing at 10.13 is the next downside target. Closes above the 20-day moving average crossing at 11.13 would confirm that a short-term low has been posted. 

October cotton closed higher on Tuesday. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If October extends this month's rally, the 75% retracement level of the June-July decline crossing at 92.48 is the next upside target. Closes below the 20-day moving average crossing at 87.72 would confirm that a short-term top has been posted.