INO Evening Market Comments
0 responses | 0 likes
Started by tallpine - Aug. 2, 2018, 3:45 p.m.

KEY EVENTS TO WATCH FOR:



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 sharply higher on Thursday led by a rally in technology stocks, as Apple Inc. briefly crossed the threshold necessary to give it a $1 trillion market cap. 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 September extends today's rally, July's high crossing at 7530.00 is the next upside target. Closes below Monday's low crossing at 7166.75 would open the door for additional weakness and a possible test of June's low crossing at 6956.00. First resistance is July's high crossing at 7530.00. Second resistance is unknown. First support is Monday's low crossing at 7166.75. Second support is June's low crossing at 6956.00. 



The September S&P 500 posted a key reversal up 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. If September resumes this summer's rally, January's high crossing at 2885.00 is the next upside target. Closes below the 50-day moving average crossing at 2771.65 would confirm that a short-term low has been posted.  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 2807.14. Second support is the 50-day moving average crossing at 2771.65.  



The Dow closed slightly lower on Thursday as concerns over trade issues between the U.S. and China off set any focus on corporate results that largely beat expectations. 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 25,119.02 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 July'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 25,119.02. 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 8/32's at 142-15.



September T-bonds posted an inside day with a higher close on Thursday 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 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 September extends the decline off July's high, May's low crossing at 139-11 is the next downside target. Closes above the 20-day moving average crossing at 144-03 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 144-03. Second resistance is July's high crossing at 146-11. First support is Wednesday's low crossing at 141-27. Second support is May's low crossing at 139-11.       



September T-notes closed up 55-points at 119-110.



September T-notes closed higher on Thursday as it consolidated some of the decline off July'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 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 119.267 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 posted a key reversal up on Thursday as data reportedly showing a dip in stockpiles at the domestic delivery hub at Cushing, Okla., helped provide a boost to prices. The high-range close sets the stage for a steady to higher opening when Friday's night session begins. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If September resumes the decline off July's high, June's low crossing at 62.99 is the next downside target. If September resumes the rally off July's low, July's high crossing at 72.98 is the next upside 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 higher on Thursday. The high-range close sets the stage for a steady to higher opening when Friday's night trading session begins. 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, July low crossing at 204.74 is the next downside target. Closes above last-Thursday's high crossing at 218.57 would confirm that a short-term low 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 today's low crossing at 208.60. Second support is July's low crossing at 204.74.



September unleaded 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 bearish signaling that sideways to lower prices are possible near-term. If September extends this week's decline, July's low crossing at 197.15 is the next downside 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 sharply higher on Thursday extending the rally off July's low. 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 September resumes the rally off July's low, the 50-day moving average crossing at 2.854 is the next upside target. Closes below the 20-day moving average crossing at 2.757 are needed to confirm that a short-term top has been posted. First resistance is the 50-day moving average crossing at 2.854. Second resistance is the reaction high crossing at 2.992. First support is the 20-day moving average crossing at 2.757. Second support is July's low crossing at 2.671.   



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



The September Dollar closed sharply higher on Thursday as it broke out to the topside of an eight-day trading range. 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 September renews the rally off July's low, weekly resistance crossing at 97.70 is the next upside target. Closes below last-Thursday's low crossing at 93.87 would confirm that a short-term top has been posted. First resistance is July's high crossing at 95.44. Second resistance is weekly resistance crossing at 97.70. First support is last-Thursday's low crossing at 93.87. Second support is June's low crossing at 92.76.    



The September Euro closed lower on Thursday while extending the May-July-trading range. 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 September resumes the decline off July's high, June's low crossing at 115.82 is the next downside target. If September renews the rally off June's low, June's high crossing at 119.40 is the next upside target. First resistance is July's high crossing at 118.52. 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 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 bearish signaling that sideways to lower prices are possible near-term. If September renews the decline off April's high, the 75% retracement level of the 2016-2018-rally crossing at 1.2857 is the next downside target. Closes above the 50-day moving average crossing at 1.3277 are needed to confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 1.3277. Second resistance is July's high crossing at 1.3403. 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 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 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. If September extends the rally off July's low, June's high crossing at 1.0302 is a potential upside 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 slightly 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 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 76.31 would temper the near-term friendly outlook. First resistance is Wednesday's high crossing at 77.13. 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 slightly 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 September renews the decline off May's high, the December-2016 low crossing at 0.8805 is the next downside target. If September resumes the rally off July's low, the 50-day moving average crossing at 0.9086 is the next upside target. First resistance is the 50-day moving average crossing at 0.9086. 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 Thursday as it extends this summer's decline. 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 diverging but turning neutral to bearish signaling that sideways to lower 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 1237.00 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 1237.00. Second resistance is July's high crossing at 1266.90. First support is today's low crossing at 1212.70. Second support is the 87% retracement level of the 2016-2018 rally crossing at 1190.90.



September silver closed lower on Thursday. The low-range close set 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 September renews the decline off June's high, weekly support crossing at 15.145 is the next downside target. Closes above the 20-day moving average crossing at 15.648 are needed to confirm that a short-term low has been posted.First resistance is the 20-day moving average crossing at 15.648. 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 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. If September resumes the decline off June's high, the 62% retracement level of the 2016-2018 rally crossing at 250.74 is the next downside target. If September renews the rally off July's low, the 50-day moving average crossing at 297.70 is the next upside target. First resistance is last-Wednesday's high crossing at 286.70. Second resistance is the 50-day moving average crossing at 297.70.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 2-cents at 3.81. 



December corn closed higher 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 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 3.68 1/4 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 3.68 1/4. Second support is July's low crossing at 3.50 1/4.  



December wheat closed up 5-cents at 5.83 3/4. 



December wheat closed higher on Thursday as it extended the rally off July's low. Profit taking ahead of the close erased a sizable portion of today's early gains and 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 December extends the rally off July's low, the July-2017 high crossing at 6.22 is the next upside target. Closes below the 20-day moving average crossing at 5.33 3/4 would confirm that a short-term top has been posted. First resistance is today's high crossing at 6.13. Second resistance is the July-2017 high crossing at 6.22. First support is the 10-day moving average crossing at 5.56. Second support is the 20-day moving average crossing at 5.33 3/4.        



December Kansas City Wheat closed up 5 1/2-cents at 5.96 3/4. 



December Kansas City wheat closed higher on Thursday as it extends the rally off July's low but well off early-session gains due to profit taking. The low-range close sets the stage for a steady to lower opening on Friday. 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 July-2017 high crossing at 6.42 is the next upside target. Closes below the 20-day moving average crossing at 5.40 would confirms that a short-term top has been posted. First resistance is today's high crossing at 6.24 1/4. Second resistance is the July-2017 high crossing at 6.42. First support is 10-day moving average crossing at 5.63 3/4. Second support is the 20-day moving average crossing at 5.40. 



December Minneapolis wheat closed up 1 3/4-cents at 6.27 3/4. 



December Minneapolis wheat closed higher on Thursday but well off session highs.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 December extends the rally off July's low, May's high crossing at 6.60 1/2 is the next upside target. Closes below the 20-day moving average crossing at 5.78 would confirm that a short-term top has been posted. First resistance is today's high crossing at 6.52 1/2. Second resistance is May's high crossing at 6.60 1/2. First support is the 10-day moving average crossing at 6.02 1/2. Second support is the 20-day moving average crossing at 5.78.  



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



November soybeans closed down 3 1/2-cents at 8.98 1/4. 



November soybeans closed lower on Wednesday as it consolidated some of the rally off July's low. 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 November extends the rally off July's low, 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 8.72 are needed to confirm that a short-term top has been posted. First resistance is the 38% retracement level of the May-July-decline crossing at 9.15. 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 8.72. Second support is July's low crossing at 8.26 1/4.



December soybean meal closed down $3.40 at 332.60. 



December soybean meal 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 turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 329.60 would temper the near-term friendly outlook. If December extends the rally off July's low, the 50-day moving average crossing at 342.80 is the next upside target. First resistance is the 50-day moving average crossing at 342.80. 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 down 25-points. At 28.70. 



December soybean oil closed lower on Thursday and below the 10-day moving average crossing at 28.78 tempering the near-term friendly outlook. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible. The mid-range close sets the stage for a steady to lower opening when Friday's night session begins trading. If December resumes the rally off July's low, the 50-day moving average crossing at 29.93 is the next upside target. First resistance is Tuesday's high crossing at 29.39. Second resistance is the 50-day moving average crossing at 29.93. 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 $1.13 at $49.65. 



October 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 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 52.79 would confirm that a short-term low has been posted. First resistance is last-Thursday's high crossing at 55.98. Second resistance is the 50-day moving average crossing at 58.63. First support is today's low crossing at 49.60. Second support is weekly support crossing at 46.24.  



October cattle closed down $0.33 at 109.95. 



October cattle close lower on Thursday. The mid-range close sets the stage for a steady 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 50-day moving average crossing at 108.14 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 $0.63 at $151.20. 



August Feeder cattle closed lower on Thursday. The mid-range close sets the stage for a steady 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. Closes below the 50-day moving average crossing at 149.14 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 149.14. Second support is July's low crossing at 147.82.    



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



September coffee closed lower on Thursday marking a downside breakout of July's trading range. 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 September extends the decline off June's high, monthly support crossing at 10.56 is the next downside target. Closes above Monday's high crossing at 11.34 would confirm that a short-term low has been posted.      



September cocoa closed higher on Thursday as it consolidated some of this summer's decline. The mid-range close sets the stage for a steady 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 September extends this summer's decline, the 87% retracement level of the December-April-rally crossing at 19.86 is the next downside target. Closes above the 20-day moving average crossing at 23.25 are needed to confirm that a short-term low has been posted.



October sugar closed higher on Thursday as it extended some of the decline off June's high. The mid-range close set the stage for a steady opening on Friday. 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 11.04 would confirm that a short-term low has been posted. 



October cotton closed higher on Thursday. The high-range close sets the stage for a steady to higher opening on Friday. 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 88.32 would confirm that a short-term top has been posted. If October extends the rally off July's low, the 75% retracement level of the June-July decline crossing at 92.48 is the next upside target. 

Comments
No replies yet. Be the first!