Summary
The Dow Future has slid 125 points to 25655. The US Dollar Index moved down 0.062 points to 97.951. Gold is lower 1.885 dollars to 1274.755. Silver has retreated 0.0365 dollars to 14.3925. The Dow Industrials softened 98.68 points, at 25764.00, while the S&P 500 moved lower 16.79 points, last seen at 2859.53. The Nasdaq Composite declined 81.76 points to 7816.29. Streaming charts of these markets are available at MarketClub
Key Events for Monday
Check out INO's Market Forum for price charts with commentary 8:30 AM ET. April CFNAI Chicago Fed National Activity Index NAI (previous -0.15) NAI, 3-mo Moving Avg (previous -0.24)
The June Dollar was slightly lower overnight as it consolidates some of the rally off last-Monday's low. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends last-week's rally, April's high crossing at 98.09 is the next upside target. Closes below the 50-day moving average crossing at 96.87 would confirm that a top has been posted while opening the door for additional weakness near-term. First resistance is April's high crossing at 98.09. Second resistance is weekly resistance crossing at 98.67. First support is the 50-day moving average crossing at 96.87. Second support is April's low crossing at 96.36. The June Euro was lower overnight as it extends the decline off last-Monday's high. 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June renews the decline off March's high, the January-2017 low crossing at 110.16 is the next downside target. Closes above the 50-day moving average crossing at 113.02 are needed to confirm that a low has been posted. First resistance is the 50-day moving average crossing at 113.02. Second resistance is April's high crossing at 113.86. First support is April's low crossing at 111.57. Second support is the January-2017 low crossing at 110.16. The June British Pound was higher overnight as it consolidates some of this month's decline. The mid-range overnight trade sets the stage for a steady to higher opening when the day session beings trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends the decline off May's high, the 87% retracement level of the January-March-rally crossing at 1.2701 is the next downside target. Closes above the 20-day moving average crossing at 1.2978 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 1.2978. Second resistance is the 50-day moving average crossing at 1.3098. First support is the 87% retracement level of the January-March-rally crossing at 1.2701. Second support is January's low crossing at 1.2591. The June Swiss Franc was steady to slightly higher overnight. Stochastics and the RSI have turned neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 0.9885 would temper the near-term friendly outlook. If June resumes the rally off April's low, the 50-day moving average crossing at 0.9990 is the next upside target. First resistance is the 50-day moving average crossing at 0.9990. Second resistance is the 2018-2019 downtrend line crossing near 1.0106. First support is April's low crossing at 0.9814. Second support is weekly support crossing at 0.9713. The June Canadian Dollar was higher overnight as it extends the trading range of the past five-weeks. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 74.77 are needed to confirm that a short-term low has been posted. If June resumes the decline off April's high, December's low crossing at 73.47 is the next downside target. First resistance is the 50-day moving average crossing at 74.77. Second resistance is the reaction high crossing at 75.64. First support is April's low crossing at 74.04. Second support is December's low crossing at 73.47. The June Japanese Yen higher overnight. However, stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term are possible. Closes below the 20-day moving average crossing at 0.0906 would confirm that a short-term top has been posted. If June resumes the rally off April's low, the 50% retracement level of the January-April-decline crossing at 0.0921 is the next upside target. First resistance is last-Monday's high crossing at 0.0920. Second resistance is the 50% retracement level of the January-April-decline crossing at 0.0921. First support is the 20-day moving average crossing at 0.0906. Second support is the 50-day moving average crossing at 0.0905.
June crude oil was steady to slightly higher overnight as it extends the trading range of the past three-weeks. The low-range late-overnight trade sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. Multiple closes above the 20-day moving average crossing at 62.82 are needed to confirm that a short-term low has been posted. Closes below May's low crossing at 60.04 would open the door for additional weakness near-term. First resistance is April's high crossing at 66.60. Second resistance is the 75% retracement level of the October-December-decline crossing at 67.73. First support is May's low crossing at 60.04. Second support is the reaction low crossing at 58.41. June heating oil was steady to slightly higher 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 turning neutral to bearish hinting that a short-term top might be in or is near. Closes below the reaction low crossing at 202.09 would confirm that a short-term top has been posted. If June extends the rally off December's low, the 75% retracement level of the October-December-decline crossing at 221.16 is the next upside target. First resistance is the 62% retracement level of the October-December-decline crossing at 211.48. Second resistance is the 75% retracement level of the October-December-decline crossing at 221.16. First support is the reaction low crossing at 202.09. Second support is the reaction low crossing at 194.17. June unleaded gas was slightly higher 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. If June extends the rally off May's low, the 75% retracement level of the October-December-decline crossing at 211.50 is the next upside target. Closes below the reaction low crossing at 192.64 would confirm that a short-term top has been posted. First resistance is the 75% retracement level of the October-December-decline crossing at 211.35. Second resistance is the 87% retracement level of the October-December-decline crossing at 222.18. First support is the reaction low crossing at 192.64. Second support is the March 28th reaction low crossing at 180.31. June Henry natural gas was sharply higher overnight as it extends the rally off April's low. The high-range overnight trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 2.690 would open the door for additional gains near-term. Closes below the 20-day moving average crossing at 2.588 would confirm that a short-term top has been posted. First resistance is the 50-day moving average crossing at 2.690. Second resistance is the reaction high crossing at 2.768. First support is May's low crossing at 2.516. Second support is April's low crossing at 2.477.
July coffee closed lower on Friday. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If July resumes this year's decline, weekly support crossing at 8.32 is the next downside target. Closes above the 50-day moving average crossing at 9.45 are needed to confirm that a low has been posted. July cocoa closed lower on Friday. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are neutral to bullish signaling sideways to higher prices are possible near-term. If July extends the rally off April's low, April's high crossing at 24.34 is the next upside target. If July resumes the decline off April's high, March's low crossing at 21.28 is the next downside target. July sugar closed lower on Friday as it renewed the decline off April's high. The low-range close set the stage for a steady to lower opening on Monday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends this spring's decline, weekly support crossing at 11.10 is the next downside target. Closes above the 20-day moving average crossing at 12.15 would confirm that a short-term low has been posted. July cotton closed lower on Friday. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends the aforementioned decline, monthly support crossing at 59.85 is the next downside target. Closes above the 10-day moving average crossing at 68.91 are needed to confirm that a short-term low has been posted.
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July corn gapped up and was higher overnight as it extends the rally off May's low. Continued planting delays along with a wet weekend along with a wet weather forecast for portions of the Midwest will continue to underpin the corn market near-term. 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If July extends this month's rally, February's high crossing at 3.95 3/4 is the next likely upside target. Closes below the 20-day moving average crossing at 3.65 1/2 would temper the near-term friendly outlook. First resistance is March's high crossing at 3.90. Second resistance is February's high crossing at 3.95 3/4. First support is the 50-day moving average crossing at 3.71. Second support is the 20-day moving average crossing at 3.65 1/2. July wheat was higher overnight as it extended the rally off last-Monday's low. The high-range overnight trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If July extends the aforementioned rally, March's high crossing at 4.82 1/2 is the next upside target. Closes below the 20-day moving average crossing at 4.42 3/4 would confirm that a short-term top has been posted. First resistance is March's high crossing at 4.82 1/2. Second resistance is the 38% retracement level of the August-May decline crossing at 4.95. First support is the 20-day moving average crossing at 4.42 3/4. Second support is last-Monday's low crossing at 4.18 1/2. July Kansas City Wheat closed up 3 1/2-cents at 4.20 1/4. July Kansas City wheat closed higher on Friday. The mid-range close sets the stage for a steady to higher opening when Monday 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 50-day moving average crossing at 4.27 1/4 are needed to confirm that a short-term low has been posted. If July resumes the decline off December's high, weekly support crossing at 3.74 is the next downside target. First resistance is the 50-day moving average crossing at 4.27 1/4. Second resistance is April's high crossing at 4.50. First support is Monday's low crossing at 3.82. Second support is weekly support crossing at 3.74. July Minneapolis wheat was higher overnight as it extends the rally off April's low. Concerns over spring wheat seeding delays have pushed July above the 50-day moving average crossing at 5.37 in overnight trade. The high-range overnight trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are becoming overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If July extends the aforementioned rally, the 25% retracement level of the 2018-2019-decline crossing at 5.48 1/4 is the next upside target. Closes below the 20-day moving average crossing at 5.19 1/2 would temper the near-term friendly outlook. First resistance is the 50-day moving average crossing at 5.37. Second resistance is the 25% retracement level of the 2018-2019-decline crossing at 5.48 1/4. First support is the 20-day moving average crossing at 5.19 1/2. Second support is April's low crossing at 5.06. SOYBEAN COMPLEX?http://quotes.ino.com/ex?changes/?c=grains" July soybeans was higher overnight as it consolidates some of last-Friday's loss. Bearish weekend weather for much of the Midwest along with the extended weather forecast for the coming week and into the end of the month remains wet, which will continue to planting delays. Stochastics and the RSI remain neutral to bullish signaling that sideways to higher prices are possible near-term. The high-range overnight trade sets the stage for a steady to higher opening when the day session begins trading. Closes above last-Wednesday's high crossing at 8.48 1/4 would confirm that a short-term low has been posted while opening the door for additional gains near-term. First resistance is last-Wednesday's high crossing at 8.48 1/4. Second resistance is the 50-day moving average crossing at 8.82 1/4. First support is last-Monday's low crossing at 7.91. Second support is monthly support crossing at 7.75. July soybean meal was higher overnight as it consolidates some of last-Friday's loss. The high-range trade sets the stage for a steady to higher 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. If July extends the rally off May's low, the 50-day moving average crossing at 306.30 is the next upside target. Closes below the 10-day moving average crossing at 294.00 would temper the near-term friendly outlook. First resistance is the 50-day moving average crossing at 306.30. Second resistance is the April 26th reaction high crossing at 309.90. First support is 10-day moving average crossing at 294.00. Second support is last-Monday's low crossing at 283.10. July soybean oil was higher 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. If July extends last-week's rally, the April 30th reaction high crossing at 28.32 is the next upside target. Closes below the 10-day moving average crossing at 27.03 would temper the near-term friendly outlook. First resistance is the April 30th reaction high crossing at 28.32. Second resistance is the 50-day moving average crossing at 28.57. First support is last-Monday's low crossing at 26.21. Second support is monthly support crossing at 25.47.
The June NASDAQ 100 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 bearish signaling that sideways to lower prices are possible near-term. If June resumes the decline off April's high, the 38% retracement level of the December-April-rally crossing at 6863.36 is the next downside target. Closes above the 20-day moving average crossing at 7669.15 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 7669.15. Second resistance is April's high crossing at 7879.50. First support is the 25% retracement level of the December-April-rally crossing at 7371.42. Second support is the 38% retracement level of the December-April-rally crossing at 6863.36. The June S&P 500 was lower overnight. The low-range overnight trade sets the stage for a steady to lower opening when the day session begins trading later this morning. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If June resumes the decline off April's high, the 38% retracement level of the December-April-rally crossing at 2723.23 is the next downside target. Closes above the 20-day moving average crossing at 2897.35 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 2897.35. Second resistance is May's high crossing at 2957.30. First support is the 25% retracement level of the December-April-rally crossing at 2804.09. Second support is the 38% retracement level of the December-April-rally crossing at 2723.23.
June T-bonds were steady to slightly lower overnight. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off April's low, March's high crossing at 150-21 is the next upside target. Closes below the 50-day moving average crossing at 147-25 are needed to confirm that a short-term top has been posted. First resistance is last-Thursday's high crossing at 150-10. Second resistance is March's high crossing at 150-21. First support is the 50-day moving average crossing at 147-25. Second support is April's low crossing at 145-31. June T-notes were slightly lower overnight. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off March's low, March's high crossing at 124.310 is the next upside targets. Closes below the 50-day moving average crossing at 123.195 would confirm that a short-term top has been posted. First resistance is last-Thursday's high crossing at 124.270. Second resistance is March's high crossing at 124.310. First support is the reaction low crossing at 122.300. Second support is April's low crossing at 122.205.
June hogs closed up $0.15 at $92.38. June hogs closed higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends this week's rally, the reaction high crossing at 93.83 is the next upside target. Closes below last-Tuesday's low crossing at 85.37 would renew the rally off April's high. First resistance is the reaction high crossing at 93.83. Second resistance is April's high crossing at 99.83. First support is last-Tuesday's low crossing at 85.37. Second support is the 62% retracement level of the February-April-rally crossing at 82.73. June cattle closed up $0.80 at 111.28. June cattle closed higher on Friday. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above 20-day moving average crossing at 113.61 are needed to confirm that a short-term low has been posted. If June extends the decline off March's high, the 87% retracement level of the 2018-2019-rally crossing at 107.37 is the next downside target. First resistance is the 20-day moving average crossing at 113.61. Second resistance is the 50-day moving average crossing at 118.03. First support is the 75% retracement level of the 2018-2019-rally crossing at 109.79. Second support is the 87% retracement level of the 2018-2019-rally crossing at 107.37. August Feeder cattle closed up $2.17 at $145.50. August Feeder cattle closed sharply higher due to short covering on Friday. The high-range close sets the stage for a steady to higher opening when Monday's session begins trading. Stochastics and the RSI are turning neutral to bullish with today's rally signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 148.39 are needed to confirm that a low has been posted. If August extends the decline off March's high, weekly support crossing at 132.22 is the next downside target. First resistance is the 20-day moving average crossing at crossing at 148.39. Second resistance is the 50-day moving average crossing at 153.17. First support is today's low crossing at 140.50. Second support is weekly support crossing at 132.22.
June gold was steady to slightly lower overnight. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends the decline off May's high, May's low crossing at 1267.30 is the next downside target. Closes above the 50-day moving average crossing at 1294.60 would confirm that a short-term low has been posted. First resistance is May's high crossing at 1302.60. Second resistance is April's high crossing at 1314.70. First support is the 50% retracement level of the September-February-rally crossing at 1272.30. Second support is the 62% retracement level of the September-February-rally crossing at 1252.70. July silver was steady to slightly lower overnight as it extends this year's decline below the 87% retracement level of the November-January-rally crossing at 14.460. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends the decline off February's high, last-November's low crossing at 14.175 is the next downside target. Closes above the 20-day moving average crossing at 15.803 would temper the near-term bearish outlook. First resistance is the 20-day moving average crossing at 14.803. Second resistance is the 50-day moving average crossing at 15.091. First support is the overnight low crossing at 14.355. Second support is last-November's low crossing at 14.175. July copper 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends the decline off April's high, the 75% retracement level of the January-April-rally crossing at 267.05 is the next downside target. Closes above the 20-day moving average crossing at 280.47 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 274.91. Second resistance is the 20-day moving average crossing at 280.47. First support is last-Monday's low crossing at 270.90. Second support is the 75% retracement level of the January-April-rally crossing at 267.05.
| | | Top Stocks | | # | symbol | name | last | net | % | volume | score | triangles | | | 1. | COTY | Coty, Inc | 13.500 | +0.260 | +2.36% | 17,667,722 | +90 |    | Entry Signal | | 2. | CRAY | Cray, Inc | 36.52 | +6.71 | +29.74% | 9,222,008 | +100 | | Entry Signal | | 3. | BMY | Bristol-Myers Squibb Co | 46.88 | -0.24 | -0.46% | 9,137,968 | +90 | | Entry Signal | | 4. | CLF | Cleveland-Cliffs, Inc | 10.02 | -0.04 | -0.35% | 7,846,279 | +90 | | Entry Signal | | 5. | GPRO | GoPro, Inc | 7.06 | -0.18 | -3.01% | 5,829,477 | +90 | | Entry Signal | | 6. | VER | VEREIT, Inc | 8.66 | -0.01 | -0.12% | 5,602,423 | +100 | | Entry Signal | | 7. | PG | Procter & Gamble | 107.410 | -0.700 | -0.71% | 4,529,880 | +90 | | Entry Signal | | 8. | BSX | Boston Scientific Corp | 37.35 | -0.27 | -0.67% | 4,424,480 | +90 | | Entry Signal | | 9. | CELG | Celgene Corp | 95.4600 | -0.0500 | -0.06% | 3,537,724 | +90 | | Entry Signal | | 10. | PM | Philip Morris, Inc | 86.860 | +1.350 | +1.62% | 3,295,144 | +100 | | Entry Signal | | | | | Top Futures | | # | symbol | name | last | net | % | volume | score | triangles | | | 1. | CL.N19 | CRUDE OIL Jul 2019 | 63.05 | +0.13 | +0.22% | 177,866 | +100 | | Entry Signal | | 2. | QCL# | CRUDE OIL JULY 2019 | 63.15 | +0.23 | +0.37% | 176,490 | +100 | | Entry Signal | | 3. | UB.M19 | ULTRA T-BONDS Jun 2019 | 167.78125 | 0.00000 | 0.00% | 20,415 | +100 | | Entry Signal | | 4. | QCL.M19 | CRUDE OIL JUNE 2019 | 62.98 | +0.22 | +0.35% | 18,033 | +100 | | Entry Signal | | 5. | CL.Q19 | CRUDE OIL Aug 2019 | 63.15 | +0.16 | +0.28% | 10,038 | +100 | | Entry Signal | | 6. | BZ.N19 | CRUDE OIL BRENT LAST DAY Jul 2019 | 72.51 | +0.30 | +0.47% | 8,937 | +100 | | Entry Signal | | 7. | QBZ.N19 | BRENT CRUDE OIL LAST DAY JULY 2019 | 72.61 | +0.40 | +0.55% | 8,913 | +100 | | Entry Signal | | 8. | QBZ# | BRENT CRUDE OIL LAST DAY JULY 2019 | 72.61 | +0.40 | +0.55% | 8,913 | +100 | | Entry Signal | | 9. | CL.U19 | CRUDE OIL Sep 2019 | 63.13 | +0.15 | +0.26% | 7,745 | +100 | | Entry Signal | | 10. | BZ.Q19 | CRUDE OIL BRENT LAST DAY Aug 2019 | 71.67 | +0.41 | +0.63% | 6,847 | +100 | | Entry Signal | |
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