Limit Down!
Cattle may be topping
out. The Canadian Ag Minister said that some officials there think
the border will be opened to cattle under 30 months old. This news sent cattle
limit down Wednesday. Look at the negative momentum divergence on the daily.
Speaking of topping out, I’d be shorting the minis
on any good setup you see on rallies — maybe a good 1,2,3. We broke this
trendline on the 60-minute chart, and as you can see, momo is weakening too.
Just take a look at the Nasdaq. They ran so fast
from 2000, you’d think it was radioactive. Sure, it’ll re-test this area again,
but not tomorrow.
Brice