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| Summary The Dow Future is falling 40 points to 25985. The US Dollar Index rose 0.003 points to 95.030. Gold is down 0.87 dollars to 1201.23. Silver has retreated 0.0480 dollars to 14.1550. The Dow Industrials climbed 20.88 points, at 25995.87, while the S&P 500 softened 10.55 points, last seen at 2878.05. The Nasdaq Compositemoved lower 70.95 points to 7924.22. Streaming charts of these markets are available at MarketClub
8:30 AM ET. U.S. Weekly Export Sales
Corn (Metric Tons) (previous 700.5K)
Soybeans (Metric Tons) (previous 702.5K)
Wheat (Metric Tons) (previous 414.8K)
8:30 AM ET. August U.S. Employment Report
Non-Farm Payrolls (expected +190K; previous +157K)
Unemployment Rate (expected 3.8%; previous 3.9%)
Avg Hourly Earnings (USD) (previous 27.05)
Avg Hourly Earnings-Net Chg (USD) (previous +0.07)
Avg Hourly Earnings, M/M% (expected +0.2%; previous +0.26%)
Avg Hourly Earnings, Y/Y% (previous +2.7%)
Overall Workweek (previous 34.5)
Overall Workweek Net Chg (previous -0.1)
Government Payrolls (previous -13K)
Private Payroll (previous +170K)
Participation Rate (previous 62.9%)
Non-Farm Payrolls Bench Net Chg
10:00 AM ET. 2nd Quarter Quarterly
10:00 AM ET. August Employment Trends Index
ETI (previous 109.89)
ETI, Y/Y% (previous +5.4%)
3:00 PM ET. July Consumer Credit
Consumer Credit Net Chg (USD) (previous +10.21B)
CURRENCIES
The September Dollar 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 bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 95.42 would confirm that a short-term top has been posted. If September resumes the decline off August's high, the late-July low crossing at 93.87 is the next downside target. First resistance is August's high crossing at 96.87. Second resistance is weekly resistance crossing at 97.70. First support is August's low crossing at 94.34. Second support is the late-July low crossing at 93.87.
The September Euro 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 a short-term top is in or is near. Closes below the 20-day moving average crossing at 115.62 is needed to confirm that a short-term top has been posted. If September renews the rally off August's low, the reaction high crossing at 118.05 is the next upside target. First resistance is the reaction high crossing at 118.05. Second resistance is July's high crossing at 118.51. First support is August's low crossing at 113.27. Second support is the 75% retracement level of the 2016-2018 rally crossing at 112.78.
The September British Pound closed slightly higher on Thursday. 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 neutral to bearish signaling that sideways to lower prices are possible near-term. If September resumes the decline off April's high, the 87% retracement level of the 2016-2018-rally crossing at 1.2600 is the next downside target. Closes above the 50-day moving average crossing at 1.3039 would open the door for additional gains and possible test of the reaction high crossing at 1.3240. First resistance is the 50-day moving average crossing at 1.3039. Second resistance is the reaction high crossing at 1.3240. First support is August's low crossing at 1.2678. Second support is the 87% retracement level of the 2016-2018-rally crossing at 1.2600.
The September Swiss Franc closed higher on Thursday as it extends the rally off August'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 extends the rally off August's low, the 50% retracement level of the February-July-decline crossing at 1.0508 is the next upside target. Closes below the 20-day moving average crossing at 1.0190 would confirm that a short-term top has been posted. First resistance is last-Friday's high crossing at 1.0373. Second resistance is the 50% retracement level of the February-July-decline crossing at 1.0508. First support is August's low crossing at 1.0042. Second support is July's low crossing at 0.9984.
The September Canadian Dollar posted a key reversal up as it 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 remain neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends the aforementioned decline, July's low crossing at 75.31 is the next downside target. Closes above the 10-day moving average crossing at 76.69 would temper the near-term bearish outlook. First resistance is August's high crossing at 77.63. Second resistance is June's high crossing at 77.94. First support is today's low crossing at 75.62. Second support is July's low crossing at 75.31.
The September 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. If September renews the rally off July's low, the 38% retracement level of the March-July decline crossing at 0.9172 is the next upside target. If September extends the decline off August's high, July's low crossing at 0.8867 is the next downside target. First resistance is August's high crossing at 0.9127. Second resistance is the 38% retracement level of the March-July decline crossing at 0.9172. First support is August's low crossing at 0.8943. Second support is July's low crossing at 0.8867.
ENERGIES
October crude oil closed lower on Thursday as it extends the decline off Tuesday's high. The mid-range close sets the stage for a steady opening when Friday's night session begins. 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 67.45 would confirm that a short-term top has been posted. If October extends the rally off August's low, May's high crossing at 71.63 is the next upside target. First resistance is Tuesday's high crossing at 71.40. Second resistance is May's high crossing at 71.63. First support is the 20-day moving average crossing at 67.45. Second support is August's low crossing at 63.89.
October heating oil closed lower on Thursday as it consolidates some of the rally off August's low. The mid-range close sets the stage for a steady to lower opening when Friday's night trading session begins. 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 216.19 would confirm that a short-term top has been posted. If October renews the aforementioned rally, the December-2014 high crossing at 237.25 is the next upside target. First resistance is Tuesday's high crossing at 230.93. Second resistance is the December-2014 high crossing at 237.25. First support is the 20-day moving average crossing at 217.67. Second support is the 50-day moving average crossing at 216.19.
October unleaded gas closed lower on Thursday as it extends the decline off Tuesday's high. 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 a short-term top might be in or is near. Closes below the 20-day moving average crossing at 194.48 would confirm that a short-term top has been posted. If October renews the rally off August's low, May's high crossing at 211.50 is the next upside target. First resistance is Tuesday's high crossing at 206.24. Second resistance is May's high crossing at 211.50. First support is August's low crossing at 186.62. Second support is July's low crossing at 185.93.
October Henry natural gas closed lower on Thursday as it extends the decline off August'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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If October extends the decline off August's high, August's low crossing at 2.751 is the next downside target. Closes above the 20-day moving average crossing at 2.905 would confirm that a short-term low has been posted. First resistance is the reaction high crossing at 2.931. Second resistance is August's high crossing at 2.979. First support is August's low crossing at 2.751. Second support is July's low crossing at 2.688.
FOOD & FIBER
December coffee closed lower on Thursday. The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI remain neutral to bullish signaling that low might be in or is near. Closes above the 20-day moving average crossing at 10.44 would confirm that a short-term low has been posted. If December renews the decline off June's high, monthly support crossing at 9.39 is the next downside target.
December 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 bearish signaling that a short-term top might be in or near. Closes below the 20-day moving average crossing at 22.49 would temper the near-term friendly outlook. If September renews the rally off August's low, July's high crossing at 26.07 is the next upside target.
October sugar closed lower on Thursday. The low-range close set the stage for a steady to lower opening on Thursday. 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 10.87 would open the door for additional gains near-term. If October renews the decline off June's high, weekly support crossing at 9.83 is the next downside target.
December cotton closed lower on Thursday. The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If December renews decline off July's high, the 50% retracement level of the 2016-2018 rally crossing at 77.99 is the next downside target. Closes above the 50-day moving average crossing at 85.10 are needed to confirm that a short-term low has been posted.
GRAINS
December Corn closed up 1-cent at 3.66 1/4.
December corn 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. Closes above the 20-day moving average crossing at 3.68 3/4 are needed to confirm that a short-term low has been posted. If December renews the decline off August's high, July's low crossing at 3.50 1/4 is the next downside target. First resistance is the 20-day moving average crossing at 3.68 3/4. Second resistance is the reaction high crossing at 3.82 1/2. First support is August's low crossing at 3.55 1/4. Second support is July's low crossing at 3.50 1/4.
December wheat closed down 7 1/4-cents at 5.14 1/2.
December wheat closed lower on Thursday as it renewed the decline off August'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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off August's high, the reaction low crossing at 5.07 is the next downside target. Closes above the 20-day moving average crossing at 5.47 are needed to confirm that a low has been posted. First resistance is the 20-day moving average crossing at 5.47. Second resistance is the reaction high crossing at 5.82 3/4. First support is today's low crossing at 5.12 1/2. Second support is the reaction low crossing at 5.07.
December Kansas City Wheat closed down 11 1/4-cents at 5.16 3/4.
December Kansas City wheat closed lower on Thursday as it renewed the decline off August's high. The low-range close sets the stage for a steady to lower 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 December extends the decline off August's high, the reaction low crossing at 5.11 1/4 is the next downside target. Closes above the 20-day moving average crossing at 5.56 3/4 are needed to confirm that a low has been posted. First resistance is the 20-day moving average crossing at 5.56 3/4. Second resistance is the reaction high crossing at 5.96. First support is the reaction low crossing at 5.11 1/4. Second support is the reaction low crossing at 4.97.
December Minneapolis wheat closed down 8 1/2-cents at 5.71 3/4.
December Minneapolis wheat closed lower on Thursday as it extends the decline off August'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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off August's high, July's low crossing at 5.42 1/4 is the next downside target. Closes above the 20-day moving average crossing at 6.00 1/2 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 6.00 1/2. Second resistance is the reaction high crossing at 6.31 3/4. First support is today's low crossing at 5.71. Second support is July's low crossing at 5.42 1/4.
SOYBEAN COMPLEX?http://quotes.ino.com/
November soybeans closed unchanged at 8.38.
November soybeans closed unchanged 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If November extends the decline off July's high, July's low crossing at 8.26 1/4 is the next downside target. Closes above the 50-day moving average crossing at 8.71 would confirm that a short-term low 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 last-Friday's low crossing at 8.28 3/4. Second support is July's low crossing at 8.26 1/4.
December soybean meal closed up $4.00 at 313.70.
December soybean meal closed higher on Thursday as it extends the rally off August'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 have turned neutral to bullish signaling that a low might be in or is near. Closes above the 50-day moving average crossing at 326.00 are needed to confirm that a low has been posted. If December resumes the decline off July's high, the June-2017 low crossing at 301.20 is the next downside target. First resistance is the 20-day moving average crossing at 320.50. Second resistance is the 50-day moving average crossing at 326.00. First support is last-Thursday's low crossing at 302.60. Second support is the June-2017 low crossing at 301.20.
December soybean oil closed unchanged. At 28.18.
December soybean oil closed unchanged on Thursday while extending the July-August trading range. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. The mid-range close sets the stage for a steady opening when Friday's night session begins trading. Closes above the reaction high crossing at 29.39 are needed to confirm that a short-term low has been posted while opening the door for additional gains near-term. If December resumes the decline off the late-July high, July's low crossing at 27.95 is the next downside target. First resistance is the reaction high crossing at 29.39. Second resistance is the reaction high crossing at 30.15. First support is August's low crossing at 28.05. Second support is July's low crossing at 27.95.
U.S. STOCK INDEXES
The September NASDAQ 100 closed sharply lower for the third day in a row on Thursday as weak technology stocks again weighed on the broader market. 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. Today's close below the 20-day moving average crossing at 7490.34 confirms that a short-term top has been posted. If September extends the aforementioned rally into uncharted territory upside targets will be hard to project. First resistance is last-Thursday's high crossing at 7697.00. Second resistance is unknown. First support is the 50-day moving average crossing at 7378.60. Second support is the reaction low crossing at 7316.50.
The September S&P 500 closed lower on Thursday as it extends the decline off August's high. 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 a short-term top might be in or is near. Closes below the 20-day moving average low crossing at 2868.54 are needed to confirm that a short-term top has been posted. If September extends this summer's rally into uncharted territory, upside targets will be hard to project. First resistance is last-Wednesday's high crossing at 2915.80. Second resistance is unknown. First support is the 20-day moving average crossing at 2868.54. Second support is the 50-day moving average crossing at 2824.91.
The Dow 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 turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 25,729.62 would confirm that an important top has been posted. If the Dow extends the rally off April's low, January's high crossing at 26,616.71 is the next upside target. First resistance is the 87% retracement level of the January-April-decline crossing at 26,183.49. Second resistance is January's high crossing at 26,616.71. First support is the 20-day moving average crossing at 25,729.62. Second support is the 50-day moving average crossing at 25,291.54.
INTEREST RATES
September T-bonds closed up 16/32's at 144-12.
September T-bonds closed higher on Thursday as it consolidates some of the decline off August'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 neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends the decline off August's high, the reaction low crossing at 142-11 is the next downside target. Closes above the 10-day moving average crossing at 144-25 confirms that a short-term low has been posted. First resistance is August's high crossing at 145-29. Second resistance is July's high crossing at 146-11. First support is Wednesday's low crossing at 143-21. Second support is August's low crossing at 141-27.
September T-notes closed up 65-points at 120-095.
September T-notes 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. Closes below the 50-day moving average crossing at 120.015 are needed to confirm that a short-term top has been posted. If September renews the rally off August's low, May's high crossing at 121.030 is the next upside target. First resistance is August's high crossing at 120.240. Second resistance is May's high crossing at 121.030. First support is the 50-day moving average crossing at 120.015. Second support is the reaction low crossing at 119.125.
LIVESTOCK
October hogs closed up $3.00 at $54.98.
October hogs gapped up and closed limit up on Thursday above the 50-day moving average crossing at 53.47 confirming that a short-term low has been posted. The high-range close sets the stage for a steady to higher opening when Friday's session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If October extends today's rally, August's high crossing at 59.50 is the next upside target. If October renews the decline off August's high, August's low crossing at 47.82 is the next downside target. First resistance is the reaction high crossing at 55.65. Second resistance is August's high crossing at 59.50. First support is last-Thursday's low crossing at 48.92. Second support is August's low crossing at 47.82.
October cattle closed down $0.15 at 108.90.
October cattle 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 bullish signaling that sideways to higher prices are possible near-term. If October extends the rally off August's low, August's high crossing at 112.15 is the next upside target. If October resumes the decline off August's high, July's low crossing at 105.48 is the next downside target. First resistance is August's high crossing at 112.15. Second resistance is July's high crossing at 112.25. First support is August's low crossing at 106.20. Second support is July's low crossing at 105.48.
October Feeder cattle closed up $0.05 at $151.53.
October Feeder cattle closed slightly higher 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the reaction high crossing at 152.35 are needed to confirm that a short-term low has been posted. Closes below Tuesday's low crossing at 148.10 would confirm that a short-term top has been posted. First resistance is the reaction high crossing at 152.35. Second resistance is the reaction high crossing at 153.45. First support is the 50% retracement level of the April-July-rally crossing at 146.35. Second support is the reaction low crossing at 145.42.
PRECIOUS METALS
October gold 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 turning neutral to bearish signaling that sideways to lower are possible near-term. If October resumes the decline off April's high, the December-2016 low crossing at 1162.10 is the next downside target. If October resumes the rally off August's low, the 50-day moving average crossing at 1222.10 is the next upside target. First resistance is last-Tuesday's high crossing at 1215.70. Second resistance is the 50-day moving average crossing at 1222.10. First support is August's low crossing at 1162.70. Second support is the December-2016 low crossing at 1162.10.
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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If September resumes the decline off June's high, the December-2015 low on the weekly continuation chart crossing at 13.620 is the next downside target. Closes above the 20-day moving average crossing at 14.674 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 14.674. Second resistance is the 50-day moving average crossing at 15.287. First support is Tuesday's low crossing at 13.960. Second support is the December-2015 low on the weekly continuation chart crossing at 13.620.
September copper closed higher due to short covering on Thursday as it consolidates some of the decline off the late-August 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 remain 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 resumes the rally off August's low, the 50-day moving average crossing at 275.33 is the next upside target. First resistance is the 50-day moving average crossing at 275.33. Second resistance is the reaction high crossing at 281.80. First support is August's low crossing at 255.20. Second support is the 62% retracement level of the 2016-2018 rally crossing at 250.74.
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