Stocks might crawl slightly higher

FOR MONDAY: (10/23) Despite S & P cycles that look very weak early next week, the other markets suggest that stocks might crawl slightly higher before doing a 30-point pullback. Those looking for crashes will continue to be disappointed this year and at best a 300-point S & P pullback from 2600-2300 might be possible if a minor crisis develops into the end of the year on a US budget crisis.Continue reading

Cycle lows for grains due on Sunday

FOR MONDAY: (10/23) Grains broke hard before weekend harvest and cycle lows are due on Sunday and the rest of next week is higher. Wheat close to key 423 support and corn close to 440.50, and beans should hold 972. Beans have the best chance of a new high if you have to buy. Cattle on feed report was negative.Continue reading

New highs on SP Friday?

FOR FRIDAY: (10/20) Pre-weekend jitters again may create sideways markets with a lot of release due Sunday/Monday. If stocks do not do much to the upside on Friday, they could make new lows on Monday/Tuesday but we are inclined to expect new highs on SP on Friday as the bargain-hunters are back in and greed is unquenchable. We often trade lightly on Fridays but are willing to take some positions home.Continue reading

Cattle may continue short-covering before COF

FOR FRIDAY: (10/20) October and November can be doggy months to trade grains, which stay in tighter ranges and sometimes you have to wait a while for key numbers and patterns to come in. We’re working on grain cycles for the next six weeks the next few days and we’ll have more insights as to final patterns and timing to report soon. For now we have a bias toward higher prices into at least Tuesday or Wednesday but not exciting to be long before harvest hedging sets in. Cattle may continue short-covering before the Cattle on Feed Report due out on Friday. Hogs look higher into next week but we need a pullback to buy from the report.Continue reading

Temporary completion at 2562 on the S & P

FOR THURSDAY: (10/19) Chances are nothing will happen with N. Korea but it’s still pretty dicey and Thursday offers some chance for volatility. We’re trading off of patterns and they have a temporary completion at 2562 on the S & P. Gold and silver issued a major sell signal and crude hold up until Oct. 22.Continue reading

Looking for a rebound on grains on Thursday

FOR THURSDAY: (10/19) We’re looking for a rebound on grains on Thursday and they have held key numbers discussed in the morning. Cattle may start short-covering before the Cattle on Feed Report due out on Friday. Hogs are crazy but may be up one more day. We still have to complete cycle research on the grain and meat complex for the next month as we move toward completing our monthly magazine newsletter.Continue reading

Gold and silver issued a major sell signal

FOR WEDNESDAY: (10/18) Chances are nothing will happen with N. Korea but it’s still pretty dicey and Wednesday/Thursday offer some chance for volatility. We’re trading off of pattern and minor cycles for stocks. Gold and silver issued a major sell signal and crude may hold up until Oct. 22.Continue reading

Wednesday looks lower

FOR WEDNESDAY: (10/18) Looking like we missed shorts, as Wednesday looks lower but the next few days could get volatile if we get any unexpected events. Not sure what to do given incomplete upward patterns so we’ll wait for the morning.Continue reading

Bias toward higher dollars until Wednesday

FOR TUESDAY: (10/17) The news that Jack Taylor might be the next Fed chairman upset the dollar, bond and gold markets near the close took away some of our profits. We have a bias toward higher dollars now until Wednesday and lower metals in general and except for another Communist Celebration day for North Korea on Thursday, we might not have any worries. Still, cycles are dicey until Nov. 3 and the chances of world tensions rising has to be kept in the back of one’s mind.Continue reading