Pork Implosion
Lean hogs
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print and trading has halted in the December contract after it traded down its
daily limit. Hogs had registered on the
Implosion-5 List and made good on an
Off The Blocks
short entry. The Pre-Opening
Agricultural Futures Outlook pointed out, “As long as weights and
slaughter continue to come in above expectations, buyers will be scarce and
sellers active.”Â
February 2002Â pork bellies
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also down their daily limit.Â
From the Pullback From Highs List,
10-year notes
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low bar in the pullback. T-bonds
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their Pullback From Highs trigger.Â
With four down indicators from the Market
Bias Indicators Page, and a down start in stock index futures that have not
been able to get above the 50% retracement of their morning descent, Nasdaq 100 futures
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PowerRating),
S&P
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PowerRating), and
Dow futures
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PowerRating) remain under pressure and are triggering out of an
intraday pullback from lows formations and are setting up to test the lows
of the session.