Live Cattle The February Live Cattle contract tested the 123.125 resistance level early in the trading session on Tuesday morning, trading to the session high at 122.625. It broke down from here trading through support at 121.20 and 120.50 on its way to the session low at 119.575. This is just above the 119.15 support level. It formed an outside …
Notes and Bonds Build on Yesterday’s Rebound
The recovery from Sunday night’s gap lower continues today for notes and bonds increasing the chances that the lows hit as markets opened for the week on Sunday night will hold up. The opposite trade is underway in the Dow, S&P and Russell stock indexes as they sell off from Sunday night’s extreme high print. The NASDAQ which started it’s …
The Grass is Always Greener: US Dollar
December US Dollar Futures Last month’s harsh treatment of our beloved greenback saw the currency giving back over 60% of its gain from the mid September rebound. Currently trading near 93.30 puts the contract in my opinion poised to reach for higher prices. I believe we are in the early stages of the c wave of an a-b-c …
Livestock Report
Live Cattle The February Live Cattle contract traded down to a new low (120.825) for the move on Monday morning, before a sharp recovery led to the high of the day at 122.15. It grinded lower from here the rest of the day and ended the session at 121.175. This is just below the 121.20 support level. It formed a …
Daily Gold Report
Gold declined on Monday, its haven status overshadowed as U.S. equities climbed and the dollar firmed after weekend passage in the Senate of what’s seen as business-friendly tax changes. Gold for February delivery settled down $4.60, or 0.4 percent, at $1,277.70 per ounce. The dollar was lifted by expectations that U.S. tax cuts would boost economic growth, which could fuel inflation and …
Bonds Find Support Regardless of the Tax Bills Progression Through Congress
Sunday night’s gap open in the notes and bonds was right at the bottom of recent ranges. Since market is not in a trend mode the early action turned out to be a selling excess for Monday’s range. Actually the lows traced out might turn out to be good for the whole week ahead because Sunday nights have a track …
Cow Tipping: February Live Cattle
February Live Cattle After taking it on the chin in the final session of last week the market was left vulnerable for a follow thru. Today prices came under early pressure opening lower at 121.45 and quickly posting an extreme to 120.825. The contract did manage to claw it’s way into positive territory before stumbling to the …
Notes and Bonds Storm Higher On Flynn News
I was hoping for a couple of interesting things which could affect trading and pick up the volatility this week and we certainly got them in Spades on Friday. It was almost lived up to the old adage beware what you wish for. Beside whip- sawing on the tax proposal news out of Congress the bond market rocketed up and …
Pick a Card…Any Card: February Live Cattle
February live Cattle A rather whippy trading session played out in the cattle futures today. The three dollar plus range was the largest seen in over two weeks. The current week’s ATR is , however , relatively small measuring only .275 as compared to the 14 period reading of over 4.00. The market’s advance from the recent low …
Notes and Bonds Peel Off
The Jerome Powell confirmation hearing before the Senate Banking Committee has come and gone with the new chairman basically affirming the status quo. Revised GDP was adjusted higher to 3.3% this morning bringing in some selling at the long end of the curve. Since there has been a lot of hype in the financial press about a flatter yield curve …