Hogs Approaching Heaven

• June 8, 2001
• Marc Dupee

August lean hogs
(
LHQ1 |
Quote |
Chart |
News |
PowerRating) are making good on the continuation of
their Pullback From
Highs signal triggered yesterday and on an Off The Blocks
entry today off their Momentum-5
List reading. Hogs are currently consolidating on their highs but look for a
possible test of the contract high at 65.950 and a same-day Turtle Soup reversal
on a move back below the contract high. 

August pork bellies
(
PBQ1 |
Quote |
Chart |
News |
PowerRating) are also higher and still trading within
the confines of a symmetrical triangle. 

British pounds
(
BPM1 |
Quote |
Chart |
News |
PowerRating), the leading contract on the Implosion-5 List,
made good on their downside momentum reading and dropped to a new contract and
15-year low. But the contract has regained losses in what is shaping up to be a
tail, a bar that often signifies (a temporary) reversal. 

Although they are pulling back, Canadian dollars
(
CDM1 |
Quote |
Chart |
News |
PowerRating)Momentum-5
List.

September T-bonds
(
USU1 |
Quote |
Chart |
News |
PowerRating) are down and making good on their Turtle Soup Plus One
Sell list. 

Soybeans
(
SN1 |
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News |
PowerRating) and
soymeal
(
SMN1 |
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Chart |
News |
PowerRating) are both higher — making good on their Momentum-5
List signals — and trading near yesterday’s multi-month highs(
CCN1 |
Quote |
Chart |
News |
PowerRating) is turning around yesterday’s big down bar in a sign of a
possible reversal. 

Also in the softs, July sugar
(
SBN1 |
Quote |
Chart |
News |
PowerRating) is
registering another Doji bar lower in day eight of a Pleiades pattern
(continuation lower) described yesterday. Orange
juice
(
OJN1 |
Quote |
Chart |
News |
PowerRating) is an imperfect Pullback From Lows setup that is trading
just above the short trigger.