FOR MONDAY: (10/9): Grains look lower Sunday but may bounce on Monday. Thinking a lot of congestive action before Thursdays USDA report. Some cycles have an upward bias next week so if grains can’t meltdown quickly from harvest pressure on Monday, we’ll want to be out of shorts. Cattle look higher a few more days and hogs are a buy on dips based on cycles.Continue reading
Stocks overbought, ripe for profit-taking
FOR FRIDAY: (10/6) Another employment report day. Market is rather overbought and end of the week profit-taking could sneak in if there are any surprises. The NFP number has been weaker with the lost jobs in Florida and Houston. Market doesn’t seem to care. Upper target on the S & P toward 2562 now.Continue reading
Waiting for volatile grain cycle to pass
FOR FRIDAY: (10/6) There are very volatile cycles that dominate the next few days. Two years ago when we saw them, they created cycle high for grains and lows for cattle. Going into harvest pressure and one would think that the market would be lower. We’re going to wait for this cycle to get out of the way.Continue reading
Stocks look quiet ahead of employment report
FOR THURSDAY: (10/5) Trade likely to be quiet before employment but not seeing anything that will knock the stock market down until next week. Gold could have a breakdown but not likely before a major report and then we have to decide how much to hold going into going into Friday.Continue reading
Grain cycles volatile next few days
FOR THURSDAY: (10/5) There are very volatile cycles that dominate the next few days. Two years ago when we saw them, they created cycle high for grains and lows for cattle. They appear to be inverting so far but given the level of intensity, we still could see grains come off their lows and meat still reverse. Given a horrible week, we’re going to wait for this cycle to get out of the way.Continue reading
Complicated congestion patterns this week
FOR TUESDAY: (10/3) Employment report week often has a wide-range day on Monday and then a lot of complicated congestion patterns. While the SP cash has completed a minimum weekly chart pattern, short-term patterns still point higher this week and our monthly letter projects 2657 into 2018. We usually like the dust to settle on Monday but it is first of the month fund buying and also October seasonal buying for stocks, and they continue to be greedy despite larger and deeper technicals that are suggesting tiring.Continue reading
Cycles, seasonals positive this week
FOR TUESDAY: (10/3) Cycles and seasonals are positive this week and this week hold the best chance for gains and then some sideways congestion early next week before the next USDA report. We need to complete more research on cattle and hogs to have a clearer vision on trading for the month of October. We can buy grains on dips this week, as seasonals are supportive, the markets are oversold and cycles are friendly.Continue reading
Dollar retracement into Tuesday
FOR MONDAY: (10/2) We took profits on a number of positions rather than get surprised by the Catalan referendum, which is now turning into a police state event. Our work suggests a dollar retracement into Tuesday and that should mean a pop in gold. Stocks are close to very major number at 2520 on the S & P but no major short until Oct 8.Continue reading
Grains setting up for buys
FOR MONDAY: We can buy grains on dips this week as seasonals are supportive, the markets are oversold and cycles are friendly. Cattle look lower this week and need a rally on Monday to get short into Thursday. Hogs aren’t clear and are complicated with many crosscurrents and will let the dust settle.Continue reading
Position squaring likely on Friday
FOR FRIDAY: (9/29) Position squaring by funds and others at the end of the month should dominate. Trade is often gun shy in taking a position, especially with N. Korea in the background. Market should be getting ready of first of month stock buying on Monday but we are very close to key stock market high.Continue reading