Favor lower grains on Friday

FOR FRIDAY: (9/22) We have a bias toward lower grains on Friday and harvest pressure should pick up. Trade is waiting on COF report and there has been a bias toward a friendly report but the price has to be built in by now.Continue reading

Sluggish trade for stocks and bonds on Thursday

FOR THURSDAY: (9/21) We have the Jewish New Year holiday on Thursday and that may create sluggish trade for stocks and bonds. We’re still wondering if the FOMC statement was a game changer. We are clear on weaker gold to 1275-1280 next and that could push the dollar above 9300 and issue a stronger weekly chart buy signal. Gold projecting 1200 into Christmas suggests that a dollar bottom is close and that a secondary high into early November may need to be bought. Stocks are too close to major resistance and NQ is really tiring but new highs are coming but a spill on Sunday/Monday looks likely. Meanwhile, pour out your pocketbooks to the troubled areas of the world with Puerto Rico and Mexico being ignored much too much—as if we’re jaded after Irma and Harvey.Continue reading

Dollar looks lower on Wednesday

FOR WEDNESDAY: (9/20) Time for more fun and games. The feeling is that whatever Yellen says, the dollar will go down because of the following factors:

* Fed’s dot plot likely to go through a downgrade
* The storms might wreck Fed’s balance sheet plans
* Rate increases won’t necessarily tighten financial conditions
* Yellen’s future still hangs in the balance
* Hawkish Fed cries set to fall on deaf ears (again!)

The problem with all of these stories as there are often surprises.Continue reading

Grains not likely to hit more ideal sell targets

FOR WEDNESDAY: (9/20) Grains are rather oversold and we have to give the market a chance to bounce into Tuesday night. Not likely to hit more ideal targets but not willing to chase without a bounce. We continue to focus on looking for recoveries to sell. Grains look lower this week so hedging and cash sales will be important on Tuesday/Tuesday night.Continue reading

Stock cycles supportive into Tuesday night

FOR TUESDAY: (9/19) Trade may be anxious to do anything before Trump opens his mouth at the UN. Expect something patriotic that will probably rally the market. Stock cycles seem supportive into the Tuesday night session and they usually take the market up before FOMC.Continue reading

Grains look lower this week

FOR TUESDAY: (9/19) Grains are rather oversold going into the Monday night session and we have to give the market a chance to bounce on Tuesday into Tuesday night. Not likely to hit more ideal targets but not willing to chase without a bounce. We continue to focus on looking for recoveries to sell. Grains look lower this week so hedging and cash sales will be important on Tuesday/Tuesday night.Continue reading

S&P chances of coming off 2500 strong

FOR MONDAY: (9/18) Chances of the market coming off from 2500 on the S & P are strong if any bad news hits. We like to see the market down hard the Monday before FOMC so they can buy it back and we often see a 25-30 point dip. Usually we get a lot of congestive noise before FOMC and we’re not quite sure how the market will play out on Wednesday and we need a few more puzzle pieces before then. Has been hard to take anything home lately with a lot of saber-rattling with North Korea and others.Continue reading

Corn: Key resistance at 358 and 360 will be hard to get through

FOR MONDAY: (9/18) We continue to focus on looking for recoveries and now think the market could hold up at least into Sunday and part of Monday. We will put orders in early in case they get hit and the market is down on Sunday. All the grains looked like they did “b” wave retracements and we could still get C-waves up to 362-3 on Dec. corn or 450 on Dec wheat and beans could reach up to 985 or 995.00. Grains look lower next week so hedging and cash sales will be important Sunday/Monday. Meats could be volatile on Monday but then should recover to mid-week.Continue reading

Stock cycles look lower Thursday

FOR THURSDAY: (9/14) Stock cycles look lower for another day and probably also gold and we’ll be patient with this market. N. Korean missile move starting to show up again and that may create discomfort and market is too close to key numbers for any sane person to be buying. Crude now looks higher a few more days and we need to re-evaluate this market.Continue reading