I post these videos every trading day, shortly after 8 AM CT. Check back here tomorrow for another update!
Every physical commodity market, except for Corn, RBOB (barely, for those two) and Natural Gas, are lower on my screen this morning.
Livestock trade was weaker on Wednesday, with Live Cattle, Feeder Cattle and Lean Hogs all closing lower. Hogs may just be “backing and filling” as rollover from the the October to December contract continues. Cattle markets are showing signs of losing some bullish momentum, but for the last two months, every time these two market looks a little “toppy” buyers step in and push prices to new highs. Corn is the lone member of the Grain/Soy group that’s higher today. Soybeans look as if they want to trade back to the lower end of the trading range, perhaps visiting 10.00 again. Wheat markets made new contract lows overnight. They’re not screaming lower, but the long slow grind continues.
My charts indicate a new trade signal in NASDAQ futures this morning.