I have talked about a top in stocks in August for over 3 months, maybe longer on one of those throw out an idea in Jan Feb. Back then I said you were nutty to sell into all time contract highs, ever. 1st time ever’s are bullish, ask why. Especially option players. Week recap. Dow jones futures of which I …
Livestock Report
Live Cattle The October Live Cattle contract saw follow through to the down side on Thursday, August 10, 2017, as it broke through the107.60 support level and tested support at 106.00. The low for the day is 106.40 and it ended the session at 106.45. If the 106.00 support level is taken out, we could see the 104.85 level tested. …
Rejected! Focus September Soybeans
September Soybeans The September soybean contract opened in cross zone support at 966 before pressing higher to first level target resistance at 981. This area was discussed in yesterday’s post and addressed in the morning audio report. Following USDA release the contract takes it hard on the chin. Prices knife through support cross zone and flush …
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Stay Tuned: Pre-USDA Market Report
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Livestock Report
Live Cattle The October Live Cattle contract was slammed at the open on Wednesday, August 9, 2017, and then traded down to test support at 108.675, making the early low at 108.625. It spent the next 3 hours consolidating at the low before breaking down and nearly going down limit. The low for the day is 107.875 and the session …
Daily Gold Report
Gold hit a near two-month peak on Wednesday, after North Korea said it is considering an attack on the U.S. Pacific territory of Guam and U.S. president Donald Trump boasted of the strength of the American nuclear arsenal. The tensions rattled through global markets, sending investors out of equities and into the safety of the yen, Swiss franc, and government debt. …
Triangulating: September Crude Oil
September Crude Oil The oil contract has not of yet broken out of what I am labeling a (iv) wave triangle formation. The trigger points on the upside are the 49.83 potential (d) wave high. A violation here should bring in a wave of upside action targeting intermediate resistance zone of roughly 51. Overhead surge level comes in …
Stable?: Focus September Soybeans
September Soybeans In today’s action the market failed to hold above the 971 level and instead slipped to test lower speed-line support just under 961 posting a low at 960.2 before rising to settle at 966. Tomorrow beans will have to again deal with the 971-973 level before it gains any footing. If so they’ll attempt to challenge …
Livestock Report
Live Cattle The October Live Cattle contract broke down through Monday’s low on Tuesday, August 8, 2017, trading down to 110.175 and ending the session near the low at 110.40. It closed below the 110.80 support level and the next support level to challenge is the April 5th low at 108.675. Resistance is at 112.425 and 113.70. The failure to …