FOR TUESDAY: (1/24) Markets are relatively quiet. Meats are looking out to USDA report later in the week. Grains are rather sluggish with the trade wondering if Trump will hurt relationships with China and hurt grain exports. Grains look higher on Wednesday and if there’s no bloodbath on Tuesday, we may still be open to buying but are going to be patient. Same for meats.Continue reading
Looking to sell gold on rallies
FOR MONDAY: (1/23) We expect lower action with stocks on Monday from potential unrest from DC and weak cycles. We want to sell gold on rallies and stay short on oil. Dollar is still in transition but should resolve back to upside eventually.Continue reading
Meats look lower on Monday
FOR MONDAY: (1/23) Markets look higher Monday and we’ll have to see how weather shifts over the weekend and maybe we will be able to play beans even though they are a bit vulnerable but probably not done. Still open to 372 on March corn at 450 on March wheat before hedges happen. Meats look lower on Monday if you’re into selling and can find a good risk/reward.Continue reading
Cycles not that bearish on Friday
FOR FRIDAY: (1/20) Our sense is that Trump will get inaugurated and that if there‘s violence it will be more likely on Saturday during the marches. Still, protest is not new to inaugurations and we have seen it with Bush and a few others. Cycles are not that bearish on Friday but we’re open to the market falling into Sunday/Monday as it continues to be congestively toppy and needs a larger 4th-wave fall. We would be surprised to get more then 2237 but it’s not impossible. Probably have to scale into other markets. There’s always some major event to wait for next but the technical patterns are telling us to get long dollars, and that a retracement on gold is needed, and that the S & P needs a new high to at least 2300. All of these moves could happen over the next few weeks.Continue reading
Looking to sell hogs if we get a chance
FOR FRIDAY: (1/20) We logically would expect end-of-week profit-taking after nice run-ups but market looks higher Monday and we’ll have to see how weather shifts over the weekend. Cycles for meats may turn a bit tired which usually means upward movement will be limited and usually it leads to profit-taking. Cattle may have a better chance to rally on Friday. Inclined to sell hogs if we get a chance.Continue reading
Trump inauguration should provide more excitement
FOR THURSDAY: (1/19) ECB is usually a big market mover so maybe the market will finally get jerked out of congestion. If not, the Trump inauguration should provide more excitement. Cycles are more jittery in general for the world over the next 2-3 weeks and any bad surprises anywhere are more likely to create a quick knee-jerk reaction. Trump’s dollar comments aren’t a deal killer but lower is coming.Continue reading
Grains may come off over the weekend
FOR THURSDAY: (1/19) Usually grains are lower on Thursday but there’s one cycle that might hold the market open all day. We sense that the grains may come off over the weekend. Running out of time for hogs and cattle, and they are getting heavy but still should hold up another day.Continue reading
Trump’s dollar comments aren’t a deal killer
FOR WEDNESDAY: (1/18) Lots of Yellen and Fed Gov. talks this week and they shouldn’t mean much but the chance of a March rate hike will probably push notes lower very soon. Draghi speaks at Davos but not much there either. Trump will get inaugurated and the issue will be how bad will the rioting be? Cycles are more jittery in general for the world over the next 2-3 weeks and any bad surprises anywhere are more likely to create a quick knee-jerk reaction. Trump’s dollar comments aren’t a deal killer but lower is coming.Continue reading
Open to being long cattle 1-2 more days
FOR WEDNESDAY: (1/18) If we get a 1-day pullback on grains, they’re probably a buy and we’re open to being long cattle 1-2 more days and for buying hogs. Is SA weather a game changer? May be and will hold the market up into the end of the month.Continue reading
Running out of time for new highs for stocks
FOR FRIDAY: (1/13) Banking stocks earnings will be a focus. Cycles look weak and we’re very open to selling stocks on Friday and holding into Sunday. Will the trade be selling before inauguration waiting on riots in DC? Running out of time for new highs for stocks. Dollar close to key 3-wave pullback at 100.44 and gold almost done at 1225-30.Continue reading