FOR THURSDAY: (5/17): We had a reversal due for currencies for Wednesday, and it may have come in with Italy getting their act together. Still, a fall in the dollar may not be more than 2-3 more days and not be very much. S & P still looks higher into next week with Thursday higher. Gold may retrace overdone conditions now.Continue reading
Grains, meats too oversold to sell
FOR THURSDAY (5/17): Thursdays aren’t usually kind to grains or meats but there‘s a friendly cycle into mid-day that may allow a recovery. Meats and grains are too oversold to sell and if new lows come early, the trade may short-cover.Continue reading
No major sell signal yet for stocks
FOR WEDNESDAY: (5/16): Trade a bit on edge with war game exercises spooking the North Korean President. Higher interest rates make 3-year bills a win over stock dividends and 10-year note over 3% is a bit of a take-the-money-in-May-and-run play. Stocks haven’t put in a major sell signal yet but are on the edge. Patterns on bonds look deeper into next week so the writings on the wall there.Continue reading
Grains look higher on Wednesday
FOR WEDNESDAY (5/16): Grains may have bottomed for the week and look higher on Wednesday and probably into Friday. Meats are due for at least a one-day bounce. Still, grain and hog markets could yield unexpected surprises on Wednesday due to a surprise cycle so watch these markets carefully on Wednesday.Continue reading
Lower dollars for next few days
FOR TUESDAY (5/15): The Dollar recovered late as stocks gave up their overnight gains following remarks from Commerce Secretary Wilbur Ross that seemed to pour cold water on Trump’s overnight tweet on ZTE and hopes that a trade war with China was easing. We see lower dollars the next few days so not sure what will change overnight but overall, we’re looking for pullbacks on stocks into Wednesday but still open to new highs if 2700 holds into Wednesday’s low.Continue reading
Major cycle peaks into late Tuesday, early Wednesday
FOR TUESDAY (5/15): Major cycle for many markets peaks into late Tuesday and early Wednesday, and we should bounce out of there into Thursday for many markets. Enjoy several days of above-average temperatures across much of the central U.S. this week, with a fair amount of rain also expected over the next three days, with the best chances for significant accumulation in the eastern Corn Belt during this time. Parts of the Southern Plains could also receive some much-needed rainfall later this week.Continue reading
Markets poised to pull back
FOR MONDAY: (5/14) Upside patterns on crude and stocks could get realized Sunday night and part of Monday but we should get a pullback into at least Wednesday. Not expecting the end of the world for any markets but they are overblown from this week and pullbacks would be healthy.Continue reading
Hogs, cattle look lower on Monday
FOR MONDAY: (5/14) Grains are oversold and may open lower on Sunday but then recover in short-covering for 1-2 sessions. May still be lower into Wednesday for a wash-out low. Hogs and cattle look lower on Monday also but then should recover. We are open to buying meats on Monday for rallies into Wednesday.Continue reading
Cycles peak Friday and Sunday for many markets
FOR FRIDAY: (5/11) Cycles peak on Friday and Sunday for many markets and this week’s movement should get retraced next week. Still potential but sometimes Fridays are congestive before the weekend.Continue reading
Mixed signals for grains
FOR FRIDAY: (5/11) Mixed signals but we are more inclined to think the market will break into the weekend and can stay short grains. Cattle and hogs look sideways but overall are looking better for a buy into next week but we need to pick our spots carefully.Continue reading