FOR THURSDAY: (3/29) Not planning a lot of trading before or after the reports on Thursday or into Monday. Three-day weekends are very volatile. We have outlined patterns and cycles below and you are welcome to trade but time for a rest with the Easter/Passover holiday.
JULY SOYBEANS (electronic ok)
TODAY’S COMMENTS: (3/29) Five waves down would project 1012 with first key support at 1018. Market may not take out 1035-36 before the report. Always surprises with these reports but cycles seem lower into Monday so not seeing any need to risk longs but not playing before the holidays.
CYCLES OVERVIEW: Volatile Thursday; closed Friday; lower into Monday; recovering into Wednesday.
