FOR WEDNESDAY: (10/3) Lots of Fed Speak on Wednesday and trade congesting into Friday’s employment report. Coming up to a lot of turns and will be hard for stocks to go up too much past next week. The dollar looks like it will run out of steam and oil also while metals look like they have early life, which is contra-seasonal.Continue reading
Grains mostly higher into Friday
FOR WEDNESDAY: (10/3) Grains look mostly higher into Friday but beans could dip on Thursday. Have to favor long cattle and not sure what to do with hogs.Continue reading
Open to S&P 2960 and 2992
FOR TUESDAY: (10/2) Usually the week of the employment report in congestive in wide ranges and not a great week to play. We’ll continue to try to peel off profits and not get greedy.Continue reading
Cycle lows for grains on Tuesday
FOR TUESDAY: (10/2) Grains have cycle lows on Tuesday but just retracing exaggerated gains from Monday. Have to assume higher prices into Friday now and buy dips on grains.Continue reading
Lot of turns on the weekly chart ahead
FOR MONDAY: (10/1) First of the month fund buying should start. Research on the 12-year cycle that kicks in mid-October suggests lower dollars for a year and higher metals, and we’re starting to sense that the Oct. seasonals for stocks may fail unless 2950 isn’t taken out early in the week. Lot of turns coming on the weekly chart in the next few weeks, and we’ll continue to report as we complete more research.Continue reading
Beans probably a buy by Tuesday
FOR MONDAY: (10/1) USDA’s quarterly stocks report was the main driver in grain markets on Friday, delivering mostly bearish news. Corn futures tumbled more than 2% by Friday’s close, with soybeans down more than 1%. The agency’s stock report had more bullish news for wheat, but those futures also ended around 0.5% lower amid some quarter-end liquidation. Grains look lower Monday and probably into part of Tuesday but may recover the rest of the week.Continue reading
Day after an FOMC meeting often
FOR THURSDAY: (9/27) Not sure we learned much from the FOMC meeting except that the market was overbought and end of the month profit-taking is needed. Still, Oct. seasonal buying isn’t far away and they will jump on buying the corrections over the next few days. Doubt that the political circus on Thursday will have any impact on the confirmation and we can all wait on the next scandal to keep us entertained and keep CNN ratings up. Where is Walter Cronkite when you need him?Continue reading
Cycles for Thursday point lower
FOR THURSDAY: (9/27) Trade waiting on Friday’s USDA reports. Those reports are also happening at the end of the month when funds square position and before a harvest weekend. Cycles for Thursday look potentially lower so the trade may cash in their chips. Cattle may hold up all day but we will move stops up.Continue reading
Favoring higher dollars into Friday
FOR WEDNESDAY: (9/26) Another FOMC meeting. They usually buy them, and that should be the case overnight and into before the announcement but starting to sense a fall after the announcement into Thursday. We do favor higher dollars into Friday, and that should mean we have to sell gold in the morning and silver despite heroics today.Continue reading
Hogs still looking higher for a few days
FOR WEDNESDAY: (9/26) We had a bullish grain cycle into Wednesday and didn’t get out of short beans fast enough or reverse. Still should be up on Wednesday but may get more volatile, and bean reversal was a bit ugly already. Hogs are still higher a few days, as are cattle.Continue reading