FOR MONDAY: (8/21) The total Solar eclipse is on Monday. They are dangerous to watch even with protective glasses so be safe. They can create eerie feelings so markets could be particularly wild if any wild news hits. We can only go with patterns analysis and watch key breakdown figures. Many world events will be triggered as a result of eclipses. Expect high volatility next week even if Monday is quiet for some reason because fund managers are still at the beach.Continue reading
Wheat not done until 405
FOR MONDAY: Not expecting a whole lot of movement. At some point we need to sell beans but have to be patient probably until Monday night. Wheat not done until 405 comes and corn still will hit 359 if you’re patient. We had noted that the last 3 years we didn’t get an August grain bounce and even with the best cycles nothing could happen until Wednesday. Impossible to be long. Waiting for a possible bounce into Monday to get something short but can’t count on anything. Beans closer to 939 or 946 could still offer a sale/hedge.Continue reading
Cycles very whippy the next 2-3 days
FOR FRIDAY: (8/18) We knew to sell on Thursday but the market didn’t quite get as high as we would have liked and we missed it and had not thought it would break so hard. Cycles are very whippy the next 2-3 days. Violence and terrorism cycles are strong into late August and so while we hope Barcelona and Virginia are it, we fear there’s more coming. Harder to hold trades overnight. Will have to see what the morning brings.Continue reading
Waiting for possible bounce into Monday
FOR FRIDAY: We had noted that the last 3 years we did not get an August grain bounce and even with the best cycles nothing could happen Wednesday. Impossible to be long. Waiting for a possible bounce into Monday to get something short but can’t count on anything. Beans closer to 939 or 946 could still offer a sale/hedge.Continue reading
Stock market tiring
FOR THURSDAY: (8/17) Stock market tiring and not getting good news with the dissolution of the Business Council. Still, cycles will turn better in the morning if the market doesn’t fold overnight. Gold cycles are stronger into next week so thinking we missed the buy and will get in. That would mean the dollar won’t let us go short at 9442.Continue reading
Grains looking more bearish Thursday
FOR THURSDAY: We had noted that the last 3 years we did not get an August grain bounce and even with the best cycles nothing could happen today. Looking more bearish for Thursday but no risk/reward on new sales. Only beans managed to bounce off of key support at 921. Wheat starting to project 405 and will pull corn to 359.Continue reading
Best chance for a S&P pullback is Thursday
FOR WEDNESDAY: (8/16) Waiting on FOMC for Wednesday but cycles seem the weakest if politicians get into any major fighting. S&P has the best chance for a pullback on Thursday but it may not be that big. Last day down for metals so let’s hope they don’t fall too much.Continue reading
Grains not bouncing
FOR WEDNESDAY: Grains not bouncing and closer to our target areas with some in already with lower targets of 363 on Dec. corn and 921 on Nov. beans or 420-1 on Sept. wheat still could come in. If you’re short, take partial profits on multiples. Chances for a huge bounce are small. Last 3 Augusts didn’t have a seasonal bounce not seeing much reason for one.Continue reading
Another volatile week ahead
FOR TUESDAY: (8/15) (8/14) Some saber-rattling already overnight. Will it reignite fears quickly? Thinking a volatile week but these sucker punch weeks often end higher and option expiration is higher and the market often goes up for them. Hard to hold and trade overnight but we’ll look for key patterns to keep us in tune.Continue reading
Cattle look lower this week
FOR TUESDAY: (8/15) Warm and wet conditions in the forecast will help grains and the trade is working on complete the patterns that were not quite complete going into the weekend. Patterns look just about complete on grains but one more push down would set up a buy for week for traders. Cattle look lower this week but need a 1-2 day bounce to get better prices.
DEC. CORN (electronic ok)
TODAY’S COMMENTS: (8/15) Market bounced to resistance at 376.25 and is down in the night session a more bearish corn report. Ideally we would like to see 367 or 363.50. We would look to take partial profits at 367 and some more at 364 if it comes in but not too worried that this market will run away to the upside, and certainly not buying. Seems like short-covering could continue later in the week and we may take partial profits off in the morning.
CYCLES OVERVIEW: Recovering into Tuesday and possibly recovering into Aug. 20; lower into Aug. 22.