Volatile cycles next few days

(2/22) FOMC minutes is the big report on Wednesday and not sure the market cares too much about it or a hawkish bent. Cycles are a bit more volatile the next few days so we’ll have to see what manifests; the weekend congestion should be over and followed by new movement.Continue reading

No risk/reward for selling grains without a bounce

FOR WEDNESDAY: (2/22) Usually we can count on hog bounces on Wednesday and if they are weak, we’re probably ok selling. Cattle look lower a few days. We have had a bias for lower grains into Wednesday/Thursday and not sure the USDA outlook report will mean that much, although we should consider it as important as a quarterly report. No risk/reward for selling grains without a bounce. Cycles look rather weak here.Continue reading

S & P projects 2354 on futures

(2/21) Not much to add to our Friday night update. Most patterns are on schedule. We hate three-day weekends because by Tuesday morning, whatever has happened over the weekend usually gets faded and you have to be ready to take profits and go the other way. We’re clear enough about larger patterns and trends to stay out of trouble.Continue reading

Lower cattle prices on Tuesday

FOR TUESDAY: (2/21 no change) Three-day weekends are tricky to trade. Grains are oversold and if they crash Monday night on bearish weather, they will have to bounce on Tuesday. Hogs look higher for a few days and have to wait for the dust to settle on cattle but seeing lower prices on Tuesday and willing to sell a key pattern completion on the feeders.Continue reading

Most patterns on schedule

(2/19-20) With Europe and Asia open, market could still be pretty active by the Monday open. Most patterns are on schedule. We hate three-day weekends because by Tuesday morning, whatever has happened over the weekend usually gets faded and you have to be ready to take profits and go the other way. We’re clear enough about larger patterns and trends to stay out of trouble.Continue reading

Willing to sell key pattern completion on feeders

FOR TUESDAY: (2/20-21) Three-day weekends are tricky to trade. Grains are oversold and if they crash Monday night on bearish weather, they will have to bounce on Tuesday. Hogs look higher for a few days and have to wait for the dust to settle on cattle but seeing lower prices on Tuesday and willing to sell a key pattern completion on the feeders.Continue reading

Stocks show no signs of giving it up

(2/15) Stocks show no signs of giving it up and NQ patterns should keep us out of trouble and still need more upside. If the market can’t fall apart overnight, we may take partial profits on S&P shorts, as top-picking doesn’t work when you are fighting investment bankers. Dollar looks like it needs the slight new high and we would continue to add more gold.Continue reading