This is a major trend line which might come into play, The bears might get their correction finally. Certainly keep this trend-line in mind when initiating any positions, bullish or bearish. CER
7-month old Trend line is in play in the Dow Futures
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Dow Index post an 8 week low. Finds some solace with Dr. Fibonacci
Dr. Fibonacci Says….. 16846 is the 38% retracement of the 6 week, 1,135 point rally which started on Aug 8th 6-month low down at 16145. Half way back, is 16,712. Thee levels are important, because every trader out there looks at them, even if they lie publicly and say they don’t. Remember, 172 points is a 1% move. If you are going to light your hair on fire and run down the street every time the Dow moves 200 points, I think you’ll be in a padded cell by Christmas , along with all of the talking heads on the financial shows. Their behavior is […]
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Will 2% correction morph into something more in the stock index futures?
Stocks are down on the Chinese Riots? Really, this is the catalyst that’s going to get us a 10% correction? I am in dis belief that this is anything other than end of month profit taking. Check your calendar. Tuesday is that last business day of the month and the last business day of the quarter. 6 Days ago we had a record high. 6 days people. 17279 in the dow. We still have not taken out last Thurday’s low and that was just a 2 1/2 % correction off the top. Support below ? check out the August low at 16839. That happens to […]
Important Technical Levels for Row Crops
Grain Re-Cap 9/19/2014
September 19, 2014 Corn: December corn settled down 6 ¾ cents at $3.31 ½ which is a new contract low and 4 year low settlement. For the week corn lost 7 cents a bushel. Corn posted its high for the session in the overnight electronic market. Once the 8:30 AM pit bell rang, corn resumed its slow grind lower. The weather report continues to be benign and should favor farmers as they harvest. Early yield reports are in a word, impressive. Bulls continue to argue the FSA acres. However, doing the math based on the yields still gets us to a plus 4 billion bushel […]
December Chicago Wheat Tests $5.00
Corn: December corn ended down 2-1/2 cents at a new contract and 4-year low settlement of $3.38 ½. For the week, CZ lost 17 ½ cents. The USDA effectively squelched any remaining bullish hopes with an estimated production of 14.395 billion bushels and a national average yield of 171.7 bushel/acre. Eyes will be on the weather and the actual impact of a projected frost. Sunday night’s first minutes of electronic trade might have some fireworks if there is any real damage. On the 30th we will have another USDA report giving updated ending stocks. 116K MT of corn was reported sold to unknown, presumably china. […]
Reports and Funds – Traders Exclusive – Chris Robinson talks about the USDA report due out on Thursday and the Funds.
Fox Business News 9/2/14
3-week highs in the Cattle and Hogs to End August
August 29, 2014
Cash Cattle: Cattle caught a bid today, the last business day of the month. On light trade Nebraska traded $155 live. Dressed traded up 3 dollars at $245. Iowa dressed traded $243.00. The USDA reported choice cut out down $0.90 at $245.99 and select down $0.49 at $234.78.
August Fat cattle settled up $1.25 at $155.90. This is the highest settlement in 3 weeks. October settled up $1.25 at $155.90, December up $1.25at $153.90. These […]