FOR MONDAY: (11/14) Cycle lows due by the first hour of trading and then we may get short-covering before the progress weekly report. Tuesday is unclear and we will continue to monitor patterns. Seasonal lows are due this week and buying usually happens before Thanksgiving.
DEC. LIVE CATTLE
TODAY’S COMMENTS: (11/14). Acceleration to 107.15 could happen the next few days before a pullback. More cycles are positive than negative this week so no reason to get all beared up. A 4th-wave pullback to 104.70 coming once 107.15 comes in. Will leave it alone but have a bias to buy dips into mid-Monday if the market isn’t breaking hard. Cycles are very volatile and there’s an unusual 16-year cycle this week that we need to research that we last saw in Jan. 2000.
Comments are closed.