FOR THURSDAY: (9/14) Grains look lower on Thursday and we hope the downside isn’t too much to prevent a recovery on Friday or into Sunday night. 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. We need a freeze threat or some other amazing news for it to happen.Continue reading
S& P could run out of steam near 2500
FOR WEDNESDAY: (9/13) We continue to see lower gold and higher dollars into Wednesday and that should mean lower T-notes and higher stocks. Still, stocks look like they could run out of steam near 2500. Our prayers continue to go out to the new flood victims in Jacksonville, FL and in South Carolina. Continue to dig deep into your pocketbook and support those in need.Continue reading
Grains need freeze threat, other news boost
FOR WEDNESDAY: (9/13) The trade sold the bearish USDA report and then took it back as there’s nowhere to go and we’re not past freeze threats yet. 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. We need a freeze threat or some other amazing news for it to happen.Continue reading
Still seeing lower gold, higher dollars into Wednesday
FOR TUESDAY: (9/12) We continue to see lower gold and higher dollars into Wednesday and that should mean lower T-notes and higher stocks. Still, stocks look like they could run out of steam and retrace a bit into Wednesday. Our prayers continue to go out to the new flood victims in Jacksonville, FL and in South Carolina. Continue to dig deep into your pocketbook and support those in need.Continue reading
USDA report days often turning points
FOR TUESDAY: (9/12) Another USDA report day on Tuesday. These reports are often turning points for the month so if a high comes in, we have to sell and hedge. Expect harvest pressure to knock the market lower.Continue reading
S & P couldn’t break key support
FOR MONDAY: (9/11) There’s little doubt that Florida will get hit by the hurricane at publication. Sometimes extreme gap downs on these events have nowhere to go but to recover and the S & P couldn’t break key support. The history of Hurricane Andrew in August 1992 had the US stock market down a week until Andrew dissipated into a tropical storm. Gold was higher. The dollar bottomed on the weekly chart a week after Hurricane Andrew was done. It looked like bonds remained bid for a few weeks after the hurricane.Continue reading
Still expecting higher grains into Monday/Tuesday
FOR MONDAY: (9/11) We still expect higher prices into Monday/Tuesday for grains. Have to start selling cattle and the market looks lower all of next week, and this week’s rally has been a gift. Waiting on the hurricane. How much Southeastern crop harvest has been put into the price already? Patterns suggest higher prices into Tuesday so we’ll assume more is coming. Cattle are a sale for a week but getting a good risk/reward will be tricky.Continue reading
Open to panic selling coming next few days
FOR FRIDAY: (9/8) Buy the rumor, sell the fact. Thinking that if stocks sell off into the weekend and gold is also higher and the dollar lower, then whatever happens over the weekend will have nowhere to go and the markets will rebound. Cycles turn a bit more depressing and pessimistic the next few days and that may lead to more major selling of stocks. Open to panic selling coming the next few days unless the Plunge Protection team can absorb it.Continue reading
Patterns suggest higher grain prices into Tuesday
FOR FRIDAY: (9/8) Waiting on the hurricane. How much Southeastern crop harvest has been put into the price already? Patterns suggest higher prices into Tuesday so we’ll assume more is coming. Cattle are a sale for a week but getting a good risk/reward will be tricky.Continue reading
Cycles lower next few days
FOR THURSDAY: (9/7) Buy the rumor, sell the fact. Thinking that if stocks sell off into the weekend and also gold is higher and the dollar lower then whatever happens over the weekend will have nowhere to go and the markets will rebound. Cycles turn a bit more depressing and pessimistic the next few days and that may lead to more major selling of stocks. Weird Wally Thursday now as we move to Stock index rollover. Many traders rollover on Friday now but we’ll go with Thursday as we’re interested in a 2-day short for stocks at least. Open to panic selling coming the next few days unless the Plunge Protection team can absorb it.Continue reading