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

Grains could hold up until Monday

FOR FRIDAY: (10/12) We got our oversold bounce on grains, as the report estimates came in not as badly as expected. Grains could hold up 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

S&P cash patterns suggest rubber-band bounce to 2880

FOR THURSDAY: (10/11) Usually when the US spills, China and Europe follow overnight and then it snowballs for the US in the morning. We still sense that the market can recover out of this mess but have to leave it alone overnight and see what develops. A fall pullback for stocks would be healthy, and the first leg lower may be done by Oct. 26, then a bounce, and then a secondary low into early December.Continue reading

Beans have issued a sell signal

FOR THURSDAY: (10/11) We have a negative reaction due for grains for Thursday but they are rather oversold already and harder to chase, and the market should recover off of any dips on Thursday. Cattle due for a bounce and will stick with hog shorts for Thursday.Continue reading

S&P didn’t breakout enough to confirm it’s done

FOR WEDNESDAY: (10/10) We have been hopeful for a recovery for a few days or a week and so far, we have only secondary lows and not new lows but much under 2860 on S & P cash and we will fall another rung. We missed Hurricane Michael in the news until late and that would prevent crude from breaking down to the lower rung but they often sell those hurricane rallies when things aren’t as bad as expected, and it’s moving more toward Florida and may not be as much of a threat. Treasury notes seem lower the rest of the week. We got short gold on the rally overnight but missed silver.Continue reading