FOR WEDNESDAY: (8/8) Wednesday is a volatile transition day. We could see wild continuations of the trend followed by sudden reversals that continue into Thursday. Not seeing major crash energy so just think pullbacks are needed on current moves so far this week.Continue reading
Volatile cycles ahead
FOR WEDNESDAY: (8/8) Markets are often choppy before the USDA report, and that makes trading tricky as you have to get in and out every day. So far, we’re justified in getting out of short beans but they’re not exactly running away. Cycles are volatile the next few days so probably will leave them alone.Continue reading
More surprises coming
FOR TUESDAY: (8/7) Cycles were optimistic today and the biggest geopolitical surprise was an assassination attempt by a drone on Venezuelan President Maduro. There are still more surprises coming, and the Pound is falling sharply as fears for no Brexit deal in Britain’s ugly divorce case aren’t going anywhere. Dollar recovered and seems likely to breakout above 9550 or a major breakout with the pound falling and the Euro needing to fall.Continue reading
Corn nearing a new high
FOR TUESDAY (8/7) Grains may be sideways before the USDA report on Thursday but with an upward bias and they are very oversold so we have to wait for better levels to sell. Corn could make a new high. We have a bias toward higher grains the next few days and the weaker than expected crop conditions report will have short-covering happening. Beans still have technically issued a sell signal as have weak but a larger retracement is coming and we are not going into the red after being in profits so often. Cattle looks higher much of this week.Continue reading
Stocks cycles still looking strong
FOR MONDAY: (8/6) Cycles this week should be filled with geopolitical surprises, potential earthquakes and war tensions but not sure the stock market will care but it could impact oil and the dollar. Stay on top of news this week.Continue reading
Cattle pointing down on Monday
FOR MONDAY: (8/6) Will warmer weather spook grains higher on Monday? Cycles suggest it could but it would be a bogus secondary high and should be followed by lower prices on Tuesday. Still, this market doesn’t want to go down despite an outlook for a record crop. Cattle may be down for a day and then we would scoop them up. Too tricky to play hogs but they still look lower for a few days.Continue reading
Gold could break to 1170
FOR FRIDAY: (8/3) Tim Cook saved the world with the APPLE stock buy back as APPLE became the first trillion-dollar company. The day was a bit of a game changer and cycle highs for stocks and a secondary high now suggest Tuesday and we have to see where it lands. That means gold could break to 1170 and silver to 1480 into the end of next week. Dollar close to a breakout but it does not go without cycles. War tensions with war games into the weekend is a bit disturbing and it will be hard to take stuff home as US tensions may also be intense.Continue reading
Beans issue a sell signal
FOR FRIDAY: (8/3) The 29-day cycle is usually weak for grains on Friday but without a deep break, we’ll be concerned about higher prices for Sunday/Monday. Wheat hasn’t finished upward patterns and corn hasn’t broken enough to discount 391.50. Sometimes the action is quiet before a weekend break. We may exit by the open of Sunday if the market can’t collapse on Friday.Continue reading
Continue to wait for pattern completion
FOR THURSDAY: (8/2) Not sure we missed much with FOMC. Statement was hawkish but markets weren’t too volatile and stayed within some key ranges we had seen earlier in the day. Some patterns weren’t completed to the downside, as was the case with gold and silver. Odd day. We’ll continue to wait for patterns to be completed.Continue reading
Doubt that corn will get to 391
FOR THURSDAY: (8/2) After the close, Trump gave a one-week extension to China on more tariffs and wondering if that will allow a bit of a relief rally for beans overnight. If we are to sell more beans overnight, we have to wait and see what develops. They just missed the major breakdown point of 897. Doubt that corn will get to 391 and wheat is its own weather market. Getting really tired of trade war news with China and its jerky connection to grains.Continue reading