FOR MONDAY: (11/5) Not sure anyone can compete with the high-speed computers and on again, off again Tweets about China. We’ll continue to trade pattern and think that a bounce to S & P 2740 is a good place to be short into the election but that the could shoot out of there by the Fed and election results on Wednesday. This market isn’t for the faint-hearted. Who knows how many crazy tweets we’ll get over the weekend break. Starting to complete longer-term cycles into January and discussing them below.Continue reading
Grains look lower Monday
FOR MONDAY: (11/5) USDA report is sneaking in early on Thursday, Nov. 8 and will create congestion before it happens. We anticipate a positive reaction to it based on cycles. Market is still going a bit crazy from on again, off again Tweets around China and nothing definitive now until Dec. 1. Key numbers already came in for grains and if we take out last week’s highs Sunday, it may not be by very much and then sickly congestion. We looked at grain cycles for the rest of the month and at best they my hold up into Nov. 1 and then be lower until right after Thanksgiving. We have to see how high they go before we estimate the next cycle low, and prices for those lows. Hopes or the Dec. 1st China meeting may keep the markets from collapsing.Continue reading
Stocks higher into Monday
FOR FRIDAY: (11/2) Employment report on Friday will be key and we’ll have to wait for the reaction and always volatile. In the end we think that stocks need to be higher into Monday so buy the dips.Continue reading
Grains looking higher into Sunday
FOR FRIDAY: (11/2) Trump’s tweets and optimism about China trade pushed grains up sharply and created an early 1-day reversal. Higher prices are due on Friday and probably into Monday. Hard to buy corn with more harvest pressure before the weekend.Continue reading
Stocks cycles look firm into at least Monday
FOR THURSDAY: (11/1) Trade waiting on Friday’s employment report but we still may get first-of-the-month buying and bargain hunting. Cycles for stocks look firm into at least Monday with Tuesday lower in pre-election panic.Continue reading
Grains look lower on Thursday
FOR THURSDAY: (11/1) Grains lower on Thursday but it may be too late to be selling again, although we’re willing to try with beans. Meats look lower on Thursday.Continue reading
S&P looks higher into Monday
FOR WEDNESDAY: (10/31) Is S & P done yet? 2600 may be enough and much above 2700 now and the bulls may attempt to come back in and start a retracement into Monday. Choppy action should continue and because we missed key gold sale numbers, we now have to wait and give them a chance to happen into Friday.Continue reading
Month-end short-covering should hit grains
FOR WEDNESDAY: (10/31) Month-end short-covering should hit grains, and cycles suggest a 1-day bounce but then lower on Thursday for grains. Cattle have a chance to bounce with hogs also on Wednesday.Continue reading
Open to one more S&P low Monday morning
FOR MONDAY: (10/29) The cycles around terrorism and explosions for the US are still strong into Tuesday and we wonder how spooked the market will be by the Pittsburgh incident. Too hard to take a position on a last short on Sunday but we’re still looking for lower levels and pattern completions but running out of time for it to fall apart before a 2-week rally in stocks. Dollar should peak on Monday and congest and we have to get out of silver, as it looks vulnerable this week along with gold. Will give crude a few more days to fall apart.Continue reading
Some grain cycles mixed into Wednesday
FOR MONDAY: (10/29) Some grain cycles are mixed into Wednesday but most of the cycles point lower this week and we can stick with shorts, although wheat is its own animal with the Australian drought.Continue reading