LIVE CATTLE – Up 0.250 to 0.500 cent per lb. * Sharp rebound in stock market futures and outside markets following the Greek rescue plan and 1 percent drop in the dollar overnight seen reducing concern over beef demand. * Futures also discount to cash cattle that traded at $100 LEAN HOGS – Up 0.250… read more
Monthly Archives: May 2010
Swing Trading Strategies – Reversal Swing dates for May 10 – May 14.
Monday – Treasury Notes Tuesday – Treasury Bonds, Dow Jones Wednesday – Corn, Wheat, Canadian dollar, British pound, Australian dollar Thursday – Eurocurrency Friday – Dollar index, Cocoa, Coffee For more information about Reversal swing dates and the “action-reaction” theory check out “Unlocking Wealth, Secret to Market Timing”.… read more
Cattle higher Hogs lower into Friday trading
CHICAGO, May 7 (Reuters) – Chicago Mercantile Exchange live cattle futures were a higher early on Friday in electronic trading as the market bounces back from Thursday’s stock market-driven sell-off with firm cash markets and discount to cash lending support. Hogs were lower with weak technicals and talk of topping in cash markets offsetting support… read more
Futures Broker / Grain News
WHEAT – Down 1 to 3 cents per bushel. Slow exports of U.S. wheat and plentiful global stockpile of wheat continues to act as an anchor on the wheat market. Some underlying support due to fact wheat market is loaded wit short-sellers, leading to occasional bouts of short-covering rallies. CORN – Up 1 to 2… read more
Futures Broker – Unemployment/nonfarm payrolls – [5/7/2010]
WASHINGTON, May 7 (Reuters) – U.S. nonfarm payrolls grew at the fastest pace in four years in April as private sector employers ramped up hiring, raising the strong possibility that the labor market recovery may be picking up steam. Employers added 290,000 jobs in April, the Labor Department said on Friday. It revised figures for… read more
Swing Trading Strategy for Dow Jones futures [chart]
June Dow Jones –The Dow futures plunged 994 points, to a low of 9840, before a short-covering rebound. The April 27th and May 3rd reversal dates identified the major highs that formed the bearish TR pattern in the Dow Jones futures that signaled the trend shift and triggered the sell. However, today’s wide range day… read more
Swing Trading Strategies – Reversal date pinpoints Swiss franc reversal. [chart]
The reverse-forward count, from the TR swing pattern (March 17 – April 4), was used to project a future reversal swing date on May 6th. The “action-reaction” line also forecast a price target objective at the intersection of the down-sloping median line and the up-sloping reaction line (8920). The Swiss franc breached the target objective on the predicted date and… read more
Futures Broker/ Soybean News
By Andrew Johnson Jr. Of DOW JONES NEWSWIRES CHICAGO (Dow Jones)–Soybean futures are expected to start Thursday’s day session with a mixed undertone, as support from solid demand and uncertain crop potential battle the bearish influence of outside markets. Futures are garnering underpinning strength from the uncertainties surrounding the 2010 planting season and a tight… read more
CME.. Hog discounts could stir speculative buying
CHICAGO (Dow Jones)–Soft market fundamentals and follow through from Wednesday’s Chicago Mercantile Exchange hogs’ tumble are seen pressuring futures early Thursday. Wednesday’s $0.70 per hundredweight wholesale pork price drop and steady-to-weak cash hog price calls are negative market influences. However, June and July slight discounts to CME’s lean hog index should stir speculative buying into… read more
Initial Jobless Claims – [5/6/2010]
By CHRISTOPHER S. RUGABER AP Economics Writer WASHINGTON (AP) — First-time claims for unemployment benefits dropped for the third consecutive week, a sign the job market is slowly recovering. The Labor Department said Thursday that initial claims for unemployment insurance fell by 7,000 to a seasonally adjusted 444,000. That’s above economists’ forecasts of 440,000, according… read more