ARP here
MARKET THOUGHTS WITH THE OLIVE LINE
The morning started off with friction. As reported by CNN syria accidently shot down a russian military plane. There were no survivors.
Syria blames Israel.
-First day of new tariffs and the S and P is higher. Yesterday the nasdaq was slipping under support.
I continue to favor the short side of the stock indices. With stops entered on live trades.
If this area is a top then late day breaks could ensue in my opinion. Always use a stop.
GRAINS
Wheat needs to catch here in my opinion.
dec chi wheat 506 olb
dec kc wht 510.75 olb
dec corn 347.5 olb this is the recent low
LIVESTOCK
LC I want to buy any sharp breaks in the lc scale down. Call for levels
hogs looking for early day trading opportunities to the long side call to discuss
MACRO US
The receipts are up 1%,The spending is up 6% yr on yr
I believe the deficit next year will be approx 1 trillion.
I suggest locking up interest rate risk.
Small trades handled properly can add up. I always suggest stops.
stay in the game.
ARP
Alan R. Palmer, Strategist – Senior Technical Analyst
Phone: 312.957.8248 or 888.391.7894
Email: arp@walshtrading.com
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