Below you'll find a list of all posts from April, 2018
June S&P Futures The Bermuda Triangle is a loosely-defined region in the western part of the North Atlantic Ocean where a number of aircraft and ships are said to have disappeared under mysterious circumstances.The Bermuda Diagonal is the name I have given this equally mysterious chart pattern that I am observing in the June S&P futures contract that in …
Soy Complex We have started to see a little deterioration in soy meal which has spilled into the bean complex. May meal broke some minor support at 380.0 and looks like it could pullback down to the 369-370 level. This weekends crazy weather in the upper plains and northern great lakes is the first of three systems that bring cold …
Live Cattle On Monday, April 16, 2018, the June Live Cattle contract opened strong as it gap opened higher and rallied to the session high at 105.95. It stopped just short of resistance at 106.025. It consolidated and then broke down hard, closing the gap (Friday high 104.375 – Monday open 104.825), on its way to the low at 103.925. …
SOY – The Beans and meal under pressure today. This could be the start of a new trend. The beans have alot to deal with at these levels in my opinion. The Demand is questionable and behind. The Carry is large at 550 million bu. Weather the Carry is 525 or 575 is immaterial. There are alot of beans, despite …
June Live Cattle The Texas two-step is a partner dance, consisting of a leader and a follower. This infectious little jig comes to mind as I observe the structural sequence that has played out in the June Live Cattle market. The leader in this case was the quick and robust surge off the previously identified save level (April) …
Live Cattle On Wednesday, April 11, 2018, the June Live Cattle contract failed to hold onto another early morning rally. The high was reached at 103.375. it continues to follow the 13 DMA (103.18) on its path down. It made the low at 101.20, below the 8 DMA (102.05) and settled below it at 101.575. A breakdown on Thursday below …
The Market should switch its focus to the domestic weather and the planting intentions. There is much to consider here. There are many who think the planting acres will remain down. It seems difficult to believe with beans approaching $11.00 the US farmer wont plant Beans. This goes against most things I have seen in 32 years In this business. …
Live Cattle On Tuesday, April 10, 2018, the June Live Cattle contract tested the 104.20 – 104.85 resistance range, reaching 104.20 for the high of the day. Once again resistance held and Live Cattle plummeted to the low, trading down to 101.675’ just above support at 101.55. It settled near the low at 102.10. A breakdown on Wednesday below the …
May Lumber Futures I have spent some considerably time delving into the structural landscape of the lumber futures market. When employing top down analysis it is necessary to first address the long term dominant time-frame price charts. I began with the monthly which extends to 1972, the beginning of the contract’s life. I have managed to map out what I …