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
Clear reversal on wheat
FOR FRIDAY: (2/17) Clear reversal on wheat and will not take much for beans to follow. Corn did its 6-7 cent retracement and can’t afford to do more.Continue reading
Some signs of reversal energy for dollar, metals
(2/16) Some signs of reversal energy for dollar and metals but the S & P is going to the moon and crude continues to congest and drive us crazy. Lots of news on Thursday but then pre-weekend paralysis will set in on Friday.Continue reading
Breakout on corn projecting 389
FOR THURSDAY: (2/16) Breakout on corn projecting 389 and then a pullback. Should force wheat to breakout and beans are tagging along. Meats look lower on Thursday.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
Wednesday may be the best day of the week for recovery
FOR WEDNESDAY: (2/15) Wednesday may be the best day of the week for meats and grains to recover and if we’re to get more shorts on, we will have to be patient another day. There is a larger cycle for grains that may be holding them up that peaks into next Tuesday and if the market can’t break down on Thursday, we may have to deal with it keeping the market up.Continue reading
Grains tiring at key resistance
FOR TUESDAY: (2/14) Cycles and technical signals look lower for meats a few more days. Grains are stubborn but seem like they are tiring at key resistance areas. Would still expect overbought conditions to lead to breaks this week. Will stay patient.Continue reading
FINANCIAL OVERVIEW FOR FEB. 13TH
FOR MONDAY: (2/13) No reports today. Lately Mondays have been sloppy and sideways but cannot fight the trend in place with stocks which seem as if they want to go higher. We do have a cluster of turning points for Sunday/Monday with at least a 2 week trend into Feb. 28th. We are likely to get more reversal energy on Tuesday than Monday so let see how things sort out.