Gold and Silver traded higher today with silver showing impressive gains as it pushed through the 17.00 level to close up at 17.17 up .48 cents for the session. Gold was the weak sister showing modest gains of just about $8.00 to close at 1277.3. Pre-positioning ahead of the FOMC rate decision was one reason we had short covering in …
Moonshine: December Live Cattle
December Live Cattle The December Live Cattle market staggered ahead to a modestly higher close today. Prices have risen slightly above targeted daily and hourly geometric lines between 126-127. These have been previously discussed. Currently the the momentum indicators are showing no signs of divergence. Structural evidence would suggest another wave higher which will unfold from a subset …
Ag Thoughts
The markets await the USDA report on the 8Th. The beans remain steady on ideas the harvest is winding down, and the thought may be that the yield has declined a bit on the tail end. This in my opinion is hoping and wishing for the bulls. However the market may rally into the report. The exists a amount of …
Check Point: December Live Cattle
December Live Cattle The December live Cattle market is close to a targeted extension level of roughly 126. Prices topped out today at 125.900 and a reaction off this point would not be out of the question. As of now I do not observe any momentum divergence and perhaps a minor new high will produce this. If so …
Stepping Stones: December Live Cattle
December Live Cattle One definition of “stepping stones” is an undertaking or event that helps one to make progress toward a specified goal. This I believe describes the current price path of the December Live Cattle Market. The extended upside projection zone comes in between 126-127. Today’s extreme at 123.825 has produced no sign of momentum divergence …
LIMIT UP LUMBER, BONDs meet Mr. Olive
Friday lumber was limit up. Usually we follow through to upside with certain trading floor rules that have not been around for a while. I chirp about these ahead of time. Hey Matt Rio, let’s chat? Why not, it’s good. I’m not talking about this too much because it is live but also due to my clients that must have …
Weekly Gold Report
Despite a bounce that took Gold positive for the day session Friday, December gold futures lost $8.70 for the week. Silver had a similar bounce as well today bouncing .15 cents from the daily lows to close the session at 1685.5. For the week, December silver lost .32 cents. Gold and silver had been under major pressure since Wednesday as …
Texas Longhorn : December Live Cattle
December Live Cattle The Texas Longhorn is a breed of cattle known for its characteristic horns, which can extend to over 1.8 m tip to tip for bulls. In my opinion this elongated characteristic aptly describes the nature of this last leg of the advance in the December Live Cattle market. I have labeled the low of 112.900 earlier this …
Olive line day, host of markets NatGas !
Today we had some wild swings across the board as you will see in the charts. Study the charts because there is a rhythm to this. Get over a line, especially an olive, algos buy as a scratch and pushed crude up today but this happens everywhere. Stocks are out of control but S&P and Dow are at a …
Bag of Nails: December Live Cattle
December Live Cattle “Bag of Nails” is a cowboy term used to describe a state of confusion or topsy-turvy. This adequately describes the structural nature of the cattle market. Concerning the advance from 112.900 I currently hold several opinions as to its unfolding wave sequence all of which point to higher prices. My favorable conclusion contends we are …