Grains point higher next 1-2 days

FOR FRIDAY: (11/9) Wild ranges on grains are not definitive for providing too many new clues. We see upward action for at least 1-2 days and we’ll see how they act. Some cycles point higher into next Friday. Data is mixed and we worry about seasonals, which are lower into Thanksgiving. Cattle and hogs need to be sold on strength but are still a bit too oversold although that may be remedied soon.Continue reading

Stocks overbought but not done

FOR THURSDAY: (11/8) We always have a bit of paralysis before FOMC. Stocks are overbought but not done until 2863-66 or 2874 comes in. Logic suggests a recovery for the dollar to 9640-50 but will it hold? Gold isn’t acting well and we may throw out cycles, which are friendly into Friday, and assume it won’t take much to break this market.Continue reading

Grain cycles point higher Thursday/Friday

FOR THURSDAY: (11/8) Trade can often congest in sickly ranges before USDA on Thursday, and that makes for boring trade. If you want to gamble on higher prices on Thursday, you can nibble at long corn and beans on Wednesday night or Thursday. Need a bounce on meats to get any risk/reward to sell.Continue reading

S&P close above 2755 confirms bullish pattern, cycles

FOR WEDNESDAY: (11/7) With absentee ballots and recounts, we may not get final result for a month but we will get a trend in the morning. Cycles are supportive for a surge overnight and this market will be impossible to play now and probably not in the morning either. As always, waiting on news and always too many surprises with this backdrop, and with the sell-off in gold and silver it seems the trade is banking on the dollar coming back.Continue reading

Corn will probably hold 375 region until USDA report

FOR WEDNESDAY: (11/7) Trade can often congest in sickly ranges before USDA on Thursday and that makes for boring trade. If you want to gamble on higher prices on Thursday, you can nibble at long corn and beans on Wednesday. Need a 2-3 day bounce on meats to get any risk/reward to sell.Continue reading

Bounce to S & P 2740 is a good place to be short

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