FOR WEDNESDAY: (11/16) We warned you about short-covering starting and these transition periods are tricky. Patterns aren’t done but buying may start for those picking bottoms and happy with value. We still have a chance for new lows and pattern completions and can’t do much on Wednesday. Need to buy the new lows or secondary lows, which did not come in. Market looks higher Wednesday with some cycle work suggesting higher prices into Friday while the 29-day cycles suggest a peak Wednesday and a pullback into Friday. Hogs look higher a few days but cattle cycles are rather mixed but look tired and should come off a few days.
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