Live Cattle Dying?
Each evening, we
focus on the most interesting aspects for the upcoming
trading day. The comments are based on observations of the
nightly updates of the Futures and Market Bias pages. They
are provided for educational purposes only and are not
intended to be direct trading advice. Also, keep in mind
that these remarks are made up to 12 hours in advance of the
markets’ opening. Therefore, overnight events may alter the
outcome of these observations.
June live cattle
(
LCM2 |
Quote |
Chart |
News |
PowerRating) gapped higher but reversed to close poorly. This
action suggests that its downtrend remains intact.
For the very aggressive, the June index futures are very oversold. This,
combined with market timing signals beginning to kick in, suggests that they are
due for a bounce. Just use extreme caution and don’t overstay your welcome since
you are fighting the tape.
Best of luck with
your trading on Wednesday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!