Corn should hold 368

FOR FRIDAY: (10/19) Grains failed and topped early and now they look lower into at least Tuesday and possibly longer. Trade should short-cover cattle before the COF report and we’re not clear on action next week. Hogs are getting oversold and close to key support.Continue reading

Stocks look higher on Thursday

FOR THURSDAY: (10/18) We have stocks higher on Thursday and the dollar should stall at 9550-9555 and come off. Gold is probably a buy but it looks lower on Friday and we’ll be patient to see how pattern comes in. Crude is almost done with the current flush to 6756. T-notes look like 117.07 will come in to finish the weekly after we were starting to give up.Continue reading

Not sure beans will be up for more than a day

FOR THURSDAY: (10/18) Running out of time for upward action and basically only Thursday and then could be lower into at least Tuesday or Wednesday of next week and probably even Friday. Exiting long grains and will get short on Friday. Cattle traders waiting on COF report after the close on Friday, and cattle should fall on Thursday and short-cover on Friday.Continue reading

Stocks need a pullback

FOR WEDNESDAY: (10/17) Stocks cycles and overbought conditions from the largest sucker punch since the Trump election need a pullback but if it’s not much, then higher prices and a larger breakout could happen Thursday with Friday looking lower. Those waiting for the next big push lower will probably have to wait for Oct. 22-26.Continue reading

Grains bottoming Wednesday

FOR WEDNESDAY: (10/17) Not liking cycles for grains on Wednesday but Thursday looks higher. Still, grains could turn around mid-day so it will be tricky, and not sure how much we want to chase. Upper targets for corn at 388 and for beans 905 and for wheat 536-540 before we can sell the pattern completion and get some harvest pullbacks to 368 on corn and 858 on beans. Cycles for hogs and cattle are mixed this week but too oversold to be selling on a 1-day bounce.Continue reading

Dec corn projecting 388 by week’s end

FOR TUESDAY: (10/16) Have to wait for a 1-2-day pullback to buy grains. We had a volatile cycle today and it came in and peaked and it’s not like we’re in June with a drought market and the worst of the rains may also be behind us.Continue reading

S&P due for a bounce this week

FOR MONDAY: (10/15) Lows held and we have to buy dips on pullbacks by early Monday for stocks in case we get a rubber-band reaction. Always have to worry about weekend craziness but cycles aren’t that negative, and the market should pull out of a tailspin by Sunday night and start a nice rally. We’ve seen people get too beared up too quickly, including last Feb., and look for some kind of recovery, with more dire cycles kicking in the week Oct. 22 if we’re too see another leg lower.Continue reading

Beans should hold 863 on dips

FOR MONDAY: (10/15) We got our oversold bounce on grains. Grains could hold until Monday. Still, we’re going into a harvest weekend and rains are diminishing but how much can fields dry out? Some of the cycles point higher into Monday but we’ll wait for the morning to see what develops.Continue reading