FOR TUESDAY: (6/25) Cycle lows for stocks dominate into at least Wednesday, and end-of- the-month unraveling may not help into the end of the week if anyone is left before a 1-week 4th of July holiday. We should still be able to safely sell stocks on Tuesday and Wednesday, and the verdict is out on gold, the dollar and oil, as Monday’s action wasn’t definitive.Continue reading
Not seeing a huge downside potential for corn
FOR TUESDAY: (6/26) Grains look lower 1 more day followed by short covering into Friday. New research on cattle suggests lower into Wednesday if not into early next week. Grains do look higher the first week of July overall so the worst may be over if the market can do secondary lows this week and offer a light hedge buy in case of pollination. Cattle on Feed was neutral to bearish and now the market could be lower into Wednesday. Hogs are oversold and may have a chance to rally with a 5-wave pattern just about complete.Continue reading
Dollar looks lower into Sunday
FOR MONDAY: (6/25) Trade is processing the aftermath of Friday’s OPEC meeting so may have wild action on Sunday. Stocks getting more serious about shorts and metals running out of time for new lows by Sunday night or early Monday. Dollar looks lower into Sunday.Continue reading
Grains look lower Monday/Tuesday
FOR MONDAY: (6/25) Corn is the most vulnerable to the upside because of pollination, and that is starting to issue a buy signal. Some hope for grain bulls if we get hotter temperatures in July and weird weather patterns. Markets are so beat up they really have to factor in pollination so the path of least resistance is up. Market looks lower Monday/Tuesday but the should come to life. Grains do look higher the first week of July overall so the worst may be over if the market can do secondary lows this week and offer a light hedge buy in case of pollination. Cattle on Feed was neutral to bearish and now the market could even be lower into Wednesday. Hogs are oversold and may have a chance to rally with a 5-wave pattern just about complete.Continue reading
Metals running out of time for new lows
FOR FRIDAY: (6/22) Trade waiting on Friday OPEC meeting but it bleeds into Saturday so may have wild action on Sunday. Stocks getting more serious about shorts and metals running out of time for new lows by Sunday night or early Monday. Dollar looks lower into Sunday.Continue reading
Corn most likely to bounce
FOR FRIDAY: (6/22) Corn is the most vulnerable to the upside because of pollination, and that is starting to issue a buy signal. Wet weather is starting to reduce yields. Getting closer to Cattle on Feed for Friday, and that can get dicey. We hope we get enough downward momentum to make money on our shorts.Continue reading
Gold, silver look lower on Thursday
FOR THURSDAY: (6/21) Trade waiting on Friday OPEC meeting, and new highs on NQ cash mean that they will buy Amazon when everything else is starting to be in trouble. We’ll wait for the morning but the rule is not to sell after a sucker punch and new highs in a market, and NQ may bring SP up eventually. Gold and silver look lower on Thursday.Continue reading
29-day grains cycle weak on Thursday
FOR THURSDAY: (6/21) Thursdays are often lower for grains and the 29-day cycle is weak. There should be a day-trade sale in the morning, and it could turn into a secondary low into Monday. Corn is the most vulnerable to the upside because of pollination, and that is starting to issue a buy signal. Getting closer to Cattle on Feed for Friday, and that can get dicey. We hope we get enough downward momentum to make money on our shorts.Continue reading
Favoring lower stocks prices into Monday
FOR WEDNESDAY: (6/20) We have the sense of the other shoe dropping and concerns about wild things happening and find it hard to put on positions overnight now. Will see what develops in the morning and take more stances here. Tuesday was a bit of a surprise day and still shaking off the dust.Continue reading
Chart action suggests start of a climax for grains
FOR WEDNESDAY: (6/20) Chart action suggests the start of a climax, as fundamental value was hit and exceeded. Some key numbers were hit and big bounces off the lows happened. Grains look higher on Wednesday but secondary lows are likely into Monday and then short-covering before USDA stocks report next week.Continue reading