RADAR LINK – The late Tuesday afternoon radar shows not a lot of activity over all the Plains and the Midwest. There are some moderate rain showers over northeast MN … and scattered very light activity over 20 to 30% of eastern KS, northern MO, northwest ILL and eastern WI. Somewhat more concentrated showers and storms can be found over 50% …
Soybean Complex Early Week Selling Pressure
Soybeans Early week action sees further declines as anticipated. Only thing of note is that the July Soybeans has entered into the first support zone as stated in earlier post( 910-900). This zone is an intersection of down sloping channel lines. It is difficult to recommend a long position at these levels , however, a technical rebound could play …
Livestock Levels
Live Cattle The August Live Cattle tested support at the 50 DMA (118.375) on Tuesday, May 30, 2017, trading to the low for the day at 117.95. It found support here, and spent the rest of the day grinding higher, reaching its high (120.10) at the end of the trading session. This is just under resistance at the 8 DMA …
Windy City Jim’s – Daily Trade Recommendations (05/30/17)
Futures Day Trading Signals (Wednesday May 31, 2017) Author: Windy City Jim 312-948-9456 NEVER RISK MORE THAN YOU CAN AFFORD TO LOSE. CALL FOR RECOMMENDATIONS ON PROTECTIVE STOPS. SEE FULL DISCLAIM ON FUTURES TRADING AT THE BOTTOM. WE ONLY ENTER THE MARKET IF THE PRICE HITS THE BUY OR SELL POINT BUY SIGNAL Commodity : July Wheat Previous Closing Price 429 1/2 …
Coffee is for Closers
Weekly wave structure appears to be in final stages of a b wave triangle. Daily structure confirms this setup as it points to the completion of an ending wave c diagonal coinciding with multi timeframe divergence in momentum. A fortification of 134.2 in the ensuing two day turns month positive. A hold above in the month of June engulfs May’s candle. Next level …
Soybeans auto-pilot sliding, $907 hiding.
Good Day Trading community Macro- soybeans making multi year lows. Farmers long and this is going to make people think into qtr end 2 17′ as clear skies mean planting. What crop never got planted? They all did. SN- $9.07 could provide some interesting action. It’s a buy 1st time down, maybe tonight. Fundamentals bearish. How to read charts- Under …
End of Week Soybean Complex Wave Analysis
Soybeans Yesterdays post suggested that the weekly candle in place should have a propensity to close at or near the lows. Also indicated in the report was a probability that the weeks average 14 period range measurement (28) would increase. This scenario did indeed play out as Friday’s action saw continued selling pressure driving the price of the July contract to the mid 920.0’s. …
Markets move higher….just barely
Just a little bit Headed in to the holiday weekend, equity markets moved higher as if they were moving through Jell-O. Most of the day was spent in sideways back and and forth fashion. The S&P 500 closed up half a point, and the Dow went out 3 points higher than Thursday. That was seven straight higher closes for the …
Weekly Gold Report
I suppose if you were to describe gold’s performance this week resilience would come to mind. Despite the fact that the S&P and Nasdaq made new all time highs this week, gold continues to benefit from fund ands speculative bidding on dips. With the continued push higher above $1260.0 an ounce this week, technicians noticed that the 50 day day moving …
Ag Commentary
The soy complex came under slow steady pressure today. There is a lot going on to consider. The weather domestically is important, but it is early still for the bean crop. The question now is will the corn situation worsen ? Will corn acres be left unplanted due to insurance. The guess is a modest amount of bean acres will be …