ARP here, good day to all.
There are many exiting things going on as I see it.
I am jumping into the markets right away.
STOCKS
I put out an Olive Line Sell in the Dow on Aug 30th. The price 26170.
I’m bearish as my extreme Olive Line sell printed. The August High could be in. The pit bear will growl at 26000.
This is a bit of humor, but seriously, if this level is penetrated it is my opinion that the market could pick up steam to the downside.
As I said yesterday I favor the Nasq, s and p, and the dow short.
MEATS
The market can look the most bearish when it is time to turn.
I am looking at opportunities in the meats that could give us buying opportunities.
Dec cattle the 111 level could be a low. If this holds I am looking for a move higher. Is 140 possible?
We can pick areas, with stops and trade the ranges.
The dec hogs now over 55.30. The 5400 level is a buy level and could signal an upside breakout to me.
We always trade with stops.
GRAINS
The corn market is in an uptrend in my opinion.
The dec 355.5 level should hold. This represents a quantifiable risk parameter.
We are long with stops. Remember money management keeps you in the game.
Higher highs and lows are what we are looking for.
Dec wheat 526.5 is an olive line buy
I am friendly kc wheat and have been. This is a big market and offers risk. Money management is key.
These are thoughts for the day. The Olive Line can assist any type of trader as a nice tool. The levels are based on my own proprietary work.
Feel free to give a call to discuss
ARP Alan Palmer
Phone: 312.957.8248 or 888.391.7894
Email: arp@walshtrading.com
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