FOR MONDAY: (12/4) Patterns and cycles suggest temporary topping action into early Sunday and a pullback for 2-3 days. While we think grains will hold up into Dec. 15-17, we have to bank profits and see what kind of retreat happens for a few days. Cattle still look vulnerable for 1-2 more days and then are a buy. Hogs look higher all week and we should be buying.
MARCH CORN (electronic ok)
TODAY’S COMMENTS: (12/4) The market looks like it could top out early Sunday and retrace for a few days so we have to take partial profits and move stops up. Small chance of accelerating through 360. Not sure it is going to fall very much. Support for Sunday/Monday is toward 356.50.
OVERALL: After the first week of Dec., seasonally the market is often sideways to lower; could hold up into Dec. 15-18 at best.
CYCLES OVERVIEW: Retracing Sunday; lower to sideways Monday; higher Tuesday; lower into early Wednesday; higher Thursday; lower Friday.
