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

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

Bullish energy the next few days

FOR THURSDAY: (5/10) We have a bias toward strength and bullish energy the next few days for many markets so we see no reason to top-pick stocks or crude. Gold and silver will be the victims and we need to find a way to get into the dollar.Continue reading

Have to leave grains alone

FOR THURSDAY: (5/10) Grain cycles are mixed, with many suggesting a recovery into Friday but we‘ve seen them invert so often that we like to stick with patterns. If wheat completed 5 waves down to 500.50 and pulled corn down for a divergent low, then we could get a recovery into Friday. Have to leave grains alone and the trade may leave them rather congestive before USDA report.Continue reading

Cycles volatile for Wednesday

FOR WEDNESDAY: (5/9) Cycles are volatile for Wednesday so we don’t sense an easy trade for crude or stocks but they may stabilize later in the week. The press is confused about the terms of pulling out of the Iran deal and they are rather complicated but Iran still wants to negotiate with the other partners in the deal, and it will take months to put sanctions on again and a new deal could happen by then. In the end, the Israel and the Military Industrial complex want war and we have to admit that the billions of dollars from the deal that support a regime that hates us and terrorizes the Middle East isn’t a good investment. You have to dig really deep to understand all the issues here.Continue reading

Grain cycles mixed

FOR WEDNESDAY: (5/9) Grain cycles are mixed with many suggesting a recovery into Friday but we have seen them invert so often that we like to stick with patterns. If wheat completed 5 waves down to 500.50 and pulled corn down for a divergent low on Wednesday then we could get a recovery into Friday. We have a low-confidence trade tonight. Have to leave grains alone and the trade may leave them rather congestive before USDA.

JULY SOYBEANS (electronic ok)
TODAY’S COMMENTS: (5/9) We’re open to a larger congestive retracement up to 1031. We’re not in a rush to sell again nor do we think the market will run away to the upside, and we’re going to do one more sell looking for 982 at some point. Expect a congestive mess for now. The chance for short-covering the rest of the week is strong before the USDA report. Support at 1001 with bounces this week going to 1021 and 1027.
OVERALL: The most bearish pattern would project a 3-wave fall to 982.
CYCLES OVERVIEW: Sideways to lower Wednesday.

Stocks still seem higher on Tuesday

FOR TUESDAY (5/8) The Iran decision is due at 2 pm Eastern Time. The surprise would be to go for it rather than upset the apple cart, and crude has been pricing in the return to sanctions. Stocks still seem higher on Tuesday and patterns suggest the need for at least 2701-05 on the S & P.Continue reading

Turnaround Tuesday for grains

FOR TUESDAY: (5/8) Cycles are mixed into the end of the week but more inclined to expect a negative report reaction. Market is oversold from Monday so Turnaround Tuesday should give us a chance to get short if you want to risk it into the report.Continue reading