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

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