FOR MONDAY: (8/20) Inflationary cycles peak on Monday and it could pull grains up for a final flourish but grains look lower the rest of the week and inevitably Chinese talks will fail and the market will head lower. At the point where we have to worry about seasonal pressure starting to come in. Cattle look lower all week and hogs are in Chinese heaven and it may last until Wednesday.
TODAY’S COMMENTS: (8/20) Resistance is at 905 for Sunday/Monday. Final surge could reach up to 919 on Monday but requires getting no surprises and horrible risk/rewards to buy. First place it will fall is 859.50. Probably won’t take out 905.
CYCLES OVERVIEW: Higher into Monday; lower into Wednesday; lower into Friday and into Aug. 26.
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