FOR TUESDAY: (11/15) Continue to move stops down on corn spec and hedge positions. Patterns might allow a mid-week bounce and final lows by Friday/Monday, which is when seasonal lows come. Cycles for cattle and hogs are mixed this week but the 16-year cycle is hitting and last time it had the market lower.
DEC. LEAN HOGS (electronic session ok)
TRADING RECOMMENDATION: Stand aside.
TODAY’S COMMENTS: (11/15) Hourly chart is hooking up at 4895 could come in. Tuesday may offer a better chance than later in the week and some cycles suggest fading action later. We have a mixed picture here and will leave it alone.
OVERALL: Open to seeing 5000 still but will leave it alone. Continuation chart patterns look done with a rally to 5000 and 5145 likely and eventually to 5450.
CYCLES OVERVIEW: Lower into Thursday.
Comments are closed.