FOR FRIDAY: (10/26) Cycles are very wild on Friday but may end up to the positive side for stocks so beware if you get too beared out. Monday has a better chance for a deep break than on Friday. Expecting wild congestion. Patterns for crude and metals are far from targets and running out of time for it come in.Continue reading
Cattle and hogs look lower the next few days
FOR FRIDAY: (10/26) Not seeing any major energy for grains to bounce until early next week so we should stick with shorts for a few more days and if we get enough of a lead on shorts, we can hang on. Cattle and hogs look lower the next few days.Continue reading
Major bounce probably coming on stocks
FOR THURSDAY: (10/25) Wild day. Thinking a huge sucker punch bounce could happen, as major support is close at hand for stocks. Market somewhat untradeable overnight but have to pick key numbers. Major bounce probably coming on stocks on Friday at the latest.Continue reading
Grains looking lower until early next week
FOR THURSDAY: (10/25) Not seeing any major energy for grains to bounce until early next week so we should stick with shorts a few more days–and if we get enough of a lead on shorts, we can hang on. Cattle have a cycle high on Thursday and we’ll have to move up stops and probably be short into Friday but cycles will get volatile here. Limit-up on hogs is making them untradable. We also have a very major cycle high due for them on Thursday and then they turn lower.Continue reading
S&P looking lower into Thursday, Friday
FOR WEDNESDAY: (10/24) Sucker-punch day, and usually bounces happen in 3 waves so a minor pullback may lead to another push up to kill all the late bears. We have a low into Thursday or Friday and higher prices next week but we’re open to a low as late as Monday. In the end, the worst cycles are over this week and the bargain hunters will return soon. Not sure why yet.Continue reading
Hogs close to getting overbought
FOR WEDNESDAY: (10/24) Grains recovering from oversold conditions but still seem in trouble even if we get a bounce on Wednesday. Cattle have at least one more day of bounce in them and hogs are close to getting overbought with a new nigh on Wednesday.Continue reading
Volatile cycles this week
FOR TUESDAY: (10/23) Lots of Fedspeak on Tuesday and that always leaves the door open to surprises. Still, the trade faded the positive China news and sold off the marijuana stocks and the banks and the home builders, which are all hurting from higher rates. Cycles are volatile this week with a bias toward shorts into at least Thursday but next week we could get a big bounce so don’t get too beared up for too long.Continue reading
Grain cycles lower next few days
FOR TUESDAY: (10/23) The 29/30-day cycles are lower the next few days so we can still be selling grains but beans continue to hold a very key area at 855-56 and corn above 363 are healthy. Cattle on Feed report was supportive for back months and cold storage is mixed and not sure how the trade will react to it.Continue reading
Cycles look rather bearish next week for stocks
FOR MONDAY: (10/22) Cycles look rather bearish next week for stocks and confidence will quickly erode if any bad news hits. Saber-rattling with Russia over the weekend isn’t going to spark any buying so it’s just a matter of finding a good spot for short stocks. Dollar looks lower this week but we need a divergent high, and same with a divergent low for gold to get long on the week.Continue reading
Harvest pressure likely to take over with dry weather
FOR MONDAY: (10/22) We failed to get into beans or corn but did get short wheat. Harder to chase with the market so oversold but not seeing anything to lift it up sharply. Talks with China at the G-20 are scheduled for Nov. 29, which is quite far away. Harvest pressure will take over with dry weather. Cattle on Feed report was mildly positive for back months. Cold storage comes out after the close on Monday.Continue reading