As I mentioned in Wednesday's Morning Commentary, December Chicago (SRW) wheat is still showing signs of a minor (short-term) 5-wave uptrend on its daily chart. The contract posted a bullish spike reversal on Tuesday, September 19, a pattern that included [...]

I had a hard time deciding what bullish market to go with Tuesday for my Chart of the Day. I landed on November feeder cattle as the contract has dropped as much as $3.65 so far this week, through two [...]

It's not overly surprising December corn took out the previous double-bottom low of$4.7350 shortly after Monday morning's open. The contract dropped to $4.7175 on a slight jump in trade volume to start the day. From a technical point of view: [...]

As I talked about in Thursday's Afternoon Commentary, the euro posted a new 4-month low as it took out the May 2023 mark of 1.06354. This confirms the euro has moved into a major (long-term) uptrend, something I've talked about [...]

I'll likely be talking about December live cattle's weekly chart in Weekly Analysis this weekend, but I wanted to set the stage early. The contract is in position to complete another bearish reversal pattern yet this week, needing only a [...]

As I mentioned in Wednesday's Afternoon Commentary, the Nov-January soybean futures spread posted a new low daily close at a carry of 16.5 cents. This also pushed its coverage of calculated full commercial carry from 49% at Tuesday's settlement to [...]

As I mentioned in Basis Analysis, the December Minneapolis futures contract is in position to complete a bullish reversal pattern on its weekly chart. This week has seen Dec post a new contract low of $7.5675, and now needs only [...]

December gold extended its minor (short-term) downtrend Wednesday, hitting a new 4-day low of $1,940.00. This was test of the next downside target at $1,939.00, a price marking the 61.8% retracement level of the previous minor uptrend from $1,913.60 (August [...]

On Monday, I talked about December corn's continuous monthly (long-term) and weekly close-only (intermediate-term) charts. To complete the set, I pulled up the Dec23 daily (short-term) chart and what jumped out at me was the sharply sideways pattern. I won't [...]

As I mentioned in Friday's Morning Commentary, we need to keep an eye on the December-March corn futures spread. We saw the spread close Thursday at a carry of 15.75 cents and covering 49.5% calculated full commercial carry, after extending [...]

The October lean hog contract is slicing through the waves on its short-term daily chart like a Miami Vice speed boat (those of a certain age will get that reference). If we squint our eyes just right we can make [...]

I know, the discussion today is actually about Waves, as in Elliott Waves, but there isn't a song titled, "Island in the Waves". At least not that know of. Tuesday's close by the November soybean contract had it 0.5 ent [...]

I had a request come in to talk a look at October crude oil. To begin with, thank you for your suggestions. As always, I appreciate your input. From a technical point of view, October crude oil looks to be [...]

Another technical factor I pointed out in Tuesday's Afternoon Commentary was December corn holding above last week's low of $4.7350. As of this writing it keeps the contract in a 5-wave short-term uptrend. Wave 1 was from last Wednesday's low [...]

As I mentioned in Tuesday's Afternoon Commentary, we need to keep a close eye on the November 2023 weekly chart. The contract looks to be in a secondary (intermediate-term) 3-wave downtrend dating back to the bearish spike reversal the week [...]

I know real market fundamentals don't matter to the bulk of the grain and oilseed industry. If they did we would hear more talk about the trend of the December-March futures spread Monday afternoon. But we won't. Most of the [...]

Continuing on with our look at live cattle ahead of the August 1 Cattle on Feed report, the Dec futures contract is in an interesting position heading into Friday's session. Similar to what I discussed in Seasonal Analysis of the [...]

To begin with, please look past all the numbers, arrows, and retracements on this Dec23 corn weekly chart. Those all have to do with the short-term daily chart, but still show up when I lengthen the time study. As I [...]

As I mentioned in Afternoon Commentary, from a technical point of view there is a lot going on with December corn these days. It has been well documented the Dec23 issue completed a bullish spike reversal on its long-term continuous [...]

As I mentioned in Wednesday's morning commentary, Nov23 soybeans remain in a sideways to up minor (short-term) trend. The uptrend began with the bullish spike reversal on August 8, bringing to an end the previous minor downtrend from $14.35 (July [...]

It has been a rough ride of late for October lean hogs, particularly for traders trying to use the contract's short-term day chart. While the overall pattern has been a relatively clear 3-wave downtrend since the bearish spike reversal on [...]

The Barchart National HRW Wheat Price Index (HWPI) took out its May low of $7.0373 in early August, extending its break to $6.87 this week. This raises a few long-term questions about the cash market: Recall the HWPI completed a [...]

The first thing that came to my mind thinking about the Dec23 daily chart was the maps at old malls that told us, "You are here" and marked the spot with a big red X. Heading into Friday's session, Dec23 [...]

The spot-month WTI crude oil contract was finally able to take out the previous 4-month high of $83.53, confirming a move to a new major (long-term) uptrend. This confirms a bullish crossover by monthly stochastics at the end of April. [...]

As I mentioned in Tuesday's Afternoon Commentary, the November soybean contract completed a bullish spike reversal on its daily chart. This confirms a new minor (short-term) uptrend is in place, a trend signaled by a series of bullish crossover by [...]

Friday morning finds the more heavily traded December gold contract in position to complete a bullish key reversal on its daily chart. Overnight trade saw Dec extend its previous 3-wave downtrend to a low of $1,945.50 (point 8 on the [...]

Things are getting interesting in the cash SRW wheat - cash corn spread. For this chart, I'm using the Barchart National Cash Indexes for both, with the preliminary calculations coming in at $5.7265 (SRW) and $5.2950 (corn). The actual calculations [...]

Another market where we could see a bearish weekly reversal is soybean oil. The more heavily traded December issue posted a high early this week at 65.58 cents before falling to a low of 61.29 overnight through early Friday morning. [...]

As I mentioned in Thursday's Afternoon Commentary, there is a lot going in with November soybeans from a technical point of view. The contract looks to have completed both a double-top and new 4-day low on its short-term daily chart, [...]

As I mentioned in Wednesday's Afternoon Commentary, there were a lot of humorous theories being bandied about to explain market activity. In most cases, we can apply Occam's Razor which tells us "the simplest solution is almost always the best". [...]

In retrospect, I should've given the April live cattle another day before I posted the piece, "No Sell is a Buy". As fate would have it, by the time Friday's close rolled around April, like most of the other live [...]

As I was putting together my Commentary Monday morning, I came across an early Chart of the Day. September corn rallied as much as 30.5 cents overnight, hitting a high of $5.5750 before finishing the session at $5.48. What makes [...]

As I mentioned in Thursday's Afternoon Commentary, the US dollar index was stronger late in the day, showing a gain of 0.69. The flip-side of the global coin, the euro, was showing a loss of 0.00725 late in the day. [...]

I had a message come in Wednesday that read,"April 2024 live cattle at $191. Any thoughts?" First and foremost, Wow! Who would've thought we would be talking about next spring live cattle contracts approaching $200. But that's what happens when [...]

The first thing I thought of when I looked at this daily chart for August lean hogs was the Greek myth of Icarus. Recall Icarus ignored the warnings, flew too close to the sun causing the beeswax on his wings [...]

It's not often I break out my novice analysis of candlestick patterns, but the weekly chart for December live cattle (as well as August and October) is intriguing. If we go back a week, we see a dragonfly doji. The [...]

As I've said a number of times since the release of USDA's July supply and demand guesses Wednesday, nothing has changed about the corn market. This is made clear by a look at the continuous monthly chart for Dec corn [...]

The US dollar index dropped to a low of 100.72 Wednesday morning, falling 1.01 from Tuesday's close. Additionally, this took out the previous quasi double-bottom with lows at 100.79 (March 2023) and 100.82 (February 2023) meaning the greenback has extended [...]

The daily chart for Nov23 soybeans is getting more interesting with each passing day. The contract looks to have completed a 5-wave minor (short-term) uptrend with last Monday's peak of $13.9175, with the Wave 6 (Wave A, first wave of [...]

As I mentioned in Monday's Afternoon Commentary, the soybean oil market was the bullish leader in the commodity complex to open the week. At the close we could see buying came from both commercial an noncommercial traders, the former shown [...]

As I said in Friday's Morning Commentary, when talking about wheat we can check words like "sense" and "logic" at the door. If you want an illustration of this idea, look no further than the daily chart for the September [...]

I had a question come in Thursday afternoon asking if there were any clear bullish reversal patterns on Dec corn's charts. Let's talk a look: The daily chart is the closest, for now, with Wednesday's unchanged close possibly considered a [...]

A friend asked if I thought the gap higher left by August lean hogs at Wednesday's open could be considered an exhaustion gap. My Paul Lynde-esque answer was, "It could be, but I'm not going to be the first one [...]

As I mentioned in Monday's Afternoon Commentary, the Nov23 soybean contract could be viewed as a bit concerning for market bulls. Here's why: First, the contract couldn't hold near its session high Monday. After posting a mark of $13.9175 the [...]

I had a question come in asking about where short-term resistance might be on the August live cattle daily chart. Here's what I see: The minor (short-term) trend remains down following the bearish key reversal on June 7. Though some [...]

As I mentioned in Morning Commentary, the Nov23 soybean contract extended its short-term downtrend to a low of $12.66 before hitting intermission priced at $12.6725. Nov23 continues to post new 4-day lows, with the next downside target near $12.5375, the [...]

In the dictionary I've had at my desk for the past 40 years, one of the definitions of august is: adj. 1. Inspiring awe or admiration, majestic. A look at the daily chart for August (the month) feeder cattle and [...]

Dec23 corn extended its recently established minor (short-term) downtrend to a low of $5.7550 overnight before finishing the session near unchanged. Note the low was a test of the initial short-term downside target near $5.7650, the 38.2% retracement level of [...]

For fun, read this in a Jamaican accent if you so choose as the topic of the day is a possible island bottom. In Wednesday's Chart of the Day (August Feeder Cattle: Swoons and Vacuums) I talked about how August [...]

The Dec23 corn contract came under pressure overnight through Thursday morning's intermission, dropping as much as 12.25 cents from Wednesday's close. We can make a few observations about the contract based on its short-term daily chart: Corn's Round Number Reliance [...]

Think of this as the follow-up piece to the post from June 8 (August Feeder Cattle: We'll See). At the time I talked about August feeder cattle completing a bearish key reversal on its daily, chart confirming the new minor [...]

As I talked about in Tuesday's Afternoon Commentary, I'm not sure what's brewing in the lean hog market but we certainly seem to be seeing a case of "When Pigs Fly". I put the microscope to this daily chart for [...]

The August live cattle contract looks ready to extend the minor (short-term) downtrend on its daily chart. I know, I've talked about this before, only to see a long list of short-term bearish reversal patterns get smashed by the runaway [...]

As a follow-up to last Monday's Chart of the Day, I'm posting another look at the daily chart for Dec23 corn. As I mentioned last time: Let’s begin with the inverted head and shoulder pattern a good friend pointed out [...]

While cattle futures have cooled their jets the last couple days, the boxed beef market continues to boom. Thursday afternoon, USDA's latest reported prices had choice at $328.73 (per 100 pounds) with select at $304.10. This was $3.54 and $2.54 [...]

The August feeder cattle contract posted as clear a bearish key reversal on its daily chart Wednesday as we will see. After hitting a new all-time high of $245.175 the contract plummeted below the previous day's low of $241.275 on [...]

As mentioned in Wednesday's Afternoon Commentary, Dec23 corn looks to have moved into a minor (short-term) downtrend on its daily chart. This goes back to Monday's activity when the contract posted a high of $5.48 before closing lower for the [...]

With so many markets making big moves Tuesday, I was pondering what to post for the Chart of the Day. Just then, Ben called to talk about my recent piece on the S&P 500 for Barchart (he agreed with my [...]

As I mentioned in Monday's Morning Commentary, from a technical point of view there is a lot going on with Dec23 corn's daily chart. Let's begin with the inverted head and shoulder pattern a good friend pointed out to be [...]

It has been a bullish morning in the soybean market as old-crop July rallied as much as 18.0 cents and is still 16.5 cents higher while new-crop November gained as much as 15.75 cents and is sitting 9.25 cents at [...]

I went through all the markets I cover in Monthly Analysis and found 10 that could complete long-term reversal patterns Wednesday and 1 (Lean Hogs Cash Index) that had already posted a new 4-month high during May. In the corn [...]

The Nov23 soybean futures contract is in position to complete a bullish spike reversal on its weekly chart, making it one of many as we head toward the next US 3-day holiday weekend. Nov23 dropped to a low of $11.63.25 [...]

As I mentioned in Thursday's Morning Commentary, July Kansas City (HRW) wheat took out last Monday's low of $8.0725 as it hit $8.0575 (so far) during the overnight session. While painful for those dealing with the physical commodity, or what [...]

As I talked about in Weekly Analysis: Livestock and Dairy this past weekend, the key to the August live cattle contract is what comes next. I could make the argument the contract is in a secondary (intermediate-term) 3-wave downtrend: The [...]

As mentioned in both Monday's Afternoon Commentary and Tuesday's Morning Commentary, July soybeans completed almost a perfect bullish 2-day reversal on its daily chart to open the week. However, a look at the daily chart early Tuesday shows July sagged [...]

Again I'm jumping ahead of Monthly Analysis to take a look at the continuous monthly chart for December corn. My Blink reaction is last week's low of $4.9075 might be THE major (long-term) low I've been looking for. Why? The [...]

I'm going back to the Dec23 corn well for this midday Chart of the Day because the contract looks to take it down to the wire for possibly completing a bullish spike reversal on its weekly chart. To do so, [...]

I know we haven't reached the end of the month yet, but as I mentioned in Thursday's Afternoon Commentary a number of markets are in position for possible bullish long-term reversal patterns. As always, I'm keeping a close eye on [...]

As I mentioned in Wednesday's Morning Commentary, the US dollar index (USDX) extended its recent rally overnight. Let's take a technical look at the greenback from its 3 major timeframes: The short-term daily chart (slide 1) shows the USDX to [...]

I had a request come in asking if I would take a look at the May-August feeder cattle futures spread. As alway, thank you for your participation and suggestion. Additionally, yes, May feeders have 9 days remaining before expiration and [...]

I was going to put this in Weekly Analysis, but for decided to make it the Chart of the Day instead. The weekly chart for June lean hogs offers a glimmer of hope for a market that has been beat [...]

Let me begin by saying I'm not a fan of short-term daily charts, and the way most markets are moving I'm becoming even less enamored with them (e.g. last Friday's look at June S&P 500 futures daily chart). On the [...]

As mentioned in Afternoon Commentary, the Kansas City (HRW) wheat July-September futures spread flexed its muscle Tuesday. July gained 4.5 cents on September, the spread closing at an inverse of 14.5 cents. This was the strongest close posted by the [...]

The Dec23 corn contract took a breather Monday, closing 5.0 cents lower for the day after short-term buying interest ran out of gas overnight. Nothing has changed about the market with fundamentals still bullish, as indicated by the Dec-March spread [...]

The June S&P 500 futures contract (ESM23) looks to have completed what is called a broadening formation or expanding triangle. For those of you who have the textbook, "Technical Analysis of the Futures Markets" by John J. Murphy, I'll be [...]

It's hard to believe it is only May 3, two days after I posted this same long-term Dec corn only monthly chart in Monthly Analysis. As I talked about in Wednesday's Afternoon Commentary, Dec23 has done exactly what was needed [...]

Given my wife is a cat person, I usually try to avoid the old market saying of a "dead cat bounce". Those of you unfamiliar with this phrase, it means that even a dead cat will bounce if you drop [...]

July corn completed a bullish reversal pattern on its daily chart, confirming a new minor (short-term) uptrend is in place. This move coincided with daily stochastics establishing a bullish crossover below the oversold level of 20% meaning a new minor [...]

Last Friday saw the July soybean contract complete its double-top formation at $15.0050 (April 3) and $15.01 (April 18). This created a top near $15.0075 with the interim low at $14.5575, a 45.0 cent range. Once the contract posted a [...]

There isn't much to say about the July Kansas City (HRW) wheat contract Thursday afternoon, but I do want to make a few technical observations: July KC fell to a low of $8.2250, taking out its previous low of $8.2525 [...]

While a number of markets and contracts have daily charts with unclear patterns, there is not question about what we see with May feeder cattle. After posting a new contract high of $212.375 early Wednesday, May feeders fell below Tuesday's [...]

As I mentioned in Tuesday's Afternoon Commentary, the Dec23 corn contract looks to be interesting the rest of this week and beyond. Tuesday saw the contract post a high of $5.71 before closing on that mark, just shy of its [...]

As I mentioned in Friday's Morning Commentary, the US dollar index extended its major (long-term) 3-wave downtrend below this past February's low of 100.82, hitting a mark of 100.78 overnight through early Friday morning. This tells us the index is [...]

The new-crop July contract extended its minor (short-term) 3-wave downtrend to a low of $8.2525. The most commonly asked question is how much lower can the contract go? Thursday saw July KC take out its Wave 6 low of $8.3725, [...]

A question just came in asking, "Is that an exhaustion gap on fats and feeders?" This makes for a great technical analysis talking point. First, there are four types of gaps we tend to see on charts (as always, my source [...]

As I mentioned in Tuesday's Afternoon Commentary, the nearby April live cattle contract posted a new all-time market high as it hit $172.475 before closing at $172.30. This was up $0.925 for the day with April gaining $0.675 on June. [...]

As discussed in Monday's Afternoon Commentary, July corn posted a strong rally over the course of the day. This sets up a number of possible technical patterns. First, not the low of $6.1575 was a test of the 61.8% retracement [...]

As we head into the 3-day holiday weekend, the daily candlestick chart for June crude oil continues to fascinate me. Since posting its gap higher to start the week, driven by headlines of an OPEC+ production cut last weekend, the [...]

As I mentioned in Afternoon Commentary, July soybeans completed a bearish 2-day reversal on its daily chart confirming its minor (short-term) trend has turned down. This coincided with with a bearish crossover by daily stochastics above the overbought level of [...]

As I looked at this pattern on June crude oil's daily candlestick chart, I thought of the late singer David Bowie. Naturally, I listened to all three of the songs that fit what I saw; Starman, Life on Mars, and [...]

I was reminded again Wednesday evening just how bullish participants in the cattle market are when I suggested live cattle could be one of the markets I'd look at being short long-term. The firestorm on social media was interesting to [...]

There are times when technical analysis reminds me of art. Like a picture, we can look at a chart and see the main image, but if we study it closer we see all the details that make it complete. Such [...]

I know there are a lot of markets to talk about, and more often than not I find myself going back to the well of covering King Corn. Today is no different, after looking at daily charts for a number [...]

While I thought I might not be talking about long-term mostly charts until late this week, Monday's action brought a number of potential bullish reversals into the spotlight. One of the more notable markets is Dec23 corn as the contract [...]

The crude oil market remains in the spotlight as we head toward the end of the week with the June issue showing an early Friday loss of as much as $1.30 on light trade volume of only 10,200 contracts as [...]

As I mentioned in Thursday's Afternoon Commentary, it was a bearish day for anything with "Oil" in its name. Soybean oil was no exception as the May issue fell as much as 3.66 cents of its daily limit 4.5 cents [...]

It seems fitting, with baseball season drawing near, that we turn our attention to talk of a pennant. In this case it has to do with the continuation pattern on the May feeder cattle daily chart, and a bearish one [...]

Last Friday I discussed some of the technical fallout from the breakdown in April lean hogs, the 'what' we could see as opposed to the 'why' that remained unknown. Since then, the contract has continued to fall, hitting a low [...]

Late in the day, a good friend sent me a simple message that read, "CRUDE OIL!!!" He was right, as crude oil posted an impressive rally off its session low to trade higher late in the day. The May issue [...]

I had a number of questions come in Thursday about the April lean hog futures contract, and rightfully so. This week has seen: April hogs closed at $87.45 on Friday, March 10, only $0.05 off its session high. Thursday, March [...]

As I mentioned in Thursday's Morning Commentary, May Chicago (SRW) wheat could be at or near a Wave 1 peak of its short-term 5-wave uptrend. If so, and based on the idea Wave 2 can retrace 80% of Wave 1, [...]

It was tough to choose one chart for Wednesday's Chart of the Day, but when all was said and done none were more impressive than the May-July soybean futures spread daily close only. As I mentioned in Afternoon Commentary, May [...]

The Dec23 corn contract is starting to get a lot more attention these days, with the itch to get planters rolling growing stronger every day. One of the more popular questions I get is along the line of, "Will Dec [...]

In my latest piece for Barchart I talked about how option strategies could be used in a number of markets that were showing minor (short-term) trend changes while secondary (intermediate-term) trends were unchanged. One of the markets I discussed was [...]

As I've mentioned the last couple days, May soybeans are in position for a possible Benjamin Franklin Fish Similarity to play out over the next couple sessions. For those of you new to my Analysis and Commentary, a Benjamin Franklin [...]

I know I highlighted live cattle's cash market in Monthly Analysis, but I also want to look at the continuous monthly chart for the nearby live cattle futures market. This is where my friend actually asked the question yesterday and [...]

I wanted to do a follow-up to last Thursday's post, "May Corn: 4X4". In that one I talked about how May corn had blown through a number of technical support levels, including the previous 4-day and 4-week lows. On the [...]

For those caught in the excessive drought area of the US Southern Plains, the sharp selloff by the new-crop July Kansas City (HRW) wheat contract has been painful to watch. I know I've quoted a friend from northwest Kansas a [...]

As I mentioned in Thursday's Afternoon Commentary, it was a bearish day for the corn market. Leading the pack was the May issue as it registered a whopping 258,800 contracts (preliminary) changing hands. As the day progressed, May corn took [...]

If you've been around long enough to remember the legendary pork belly market, recent activity in lean hogs has likely triggered a sense of deja vu. I say that in anticipation of lean hogs eventually pulling off the limit double [...]

Though I know the friend who asked about the March S&P 500 futures contract (ESH3) earlier today is not a baseball fan, I'm going to set this analysis up by quoting the late, great Yogi Berra, "When you come to [...]

I was asked my thoughts about the May-July corn spread Thursday afternoon. What jumps out at me is one can see whatever they want on the spread's daily close-only chart. If you are bearish corn's longer-term supply and demand situation, [...]

A good friend sent me a message this morning about how other commentators are talking about the bull flag formation on the March feeder cattle daily chart. A few things to keep in mind before we get into my analysis: [...]

It has been a wild ride in lean hogs of late, and the daily chart for the April issue paints the picture clearly. After poking through its previous low of $82.625 on Monday, February 6 the contract fell to a [...]

As we get ready to head into another South American harvest weekend, soybean meal could move back into the spotlight. For this post, I'm going out to the May issue given March will soon be in the hands of commercial [...]

I had a question come in Wednesday afternoon asking if I could take a look at May and August feeder cattle. As always, thank you all for taking the time to stay in touch and offer suggestions. Starting with the [...]

As mentioned in Wednesday's Morning Commentary the April gold contract is in position for a couple different possibilities today: First, a higher daily close would be its third consecutive against the ongoing minor (short-term) downtrend that began with the bearish [...]

The daily close only chart for the May-July soybean futures spread is showing a definite topping pattern, and given the jaggedness of the formation I'm going to call it a Rocky Top (feel free to hum the song while reading [...]

As I mentioned in Monday's Morning Commentary, the euro completed a bearish key reversal on its weekly chart last week, confirming it has moved into a secondary (intermediate-term) downtrend. This also confirmed the latest bearish crossover by weekly stochastics above [...]

As mentioned in Morning Commentary, the new-crop July Kansas City wheat contract has moved into a minor (short-term) downtrend. Thursday saw the contract complete a bearish spike reversal on its daily chart, one of the more reliable reversal patterns I [...]

As I mentioned in Thursday's Morning Commentary, it has been a head-scratcher of a week in the cattle markets so far. A shining example is March feeder cattle where Monday and Tuesday saw solid rallies driven in part by commercial [...]

I had a question come in about May coffee, and my friend was spot-on about the contract completing a topping pattern on its daily chart. After posting a new high for the move of 184.00 early Wednesday, the contract collapsed [...]

Why did I name this piece for the Oscar-winning 2005 documentary film that followed the "yearly journey of the emperor penguins of Antartica"? Because as I sit in the basement office on the last day of January 2023, with my [...]

As I mentioned in Monday's Afternoon Commentary, the plan was to take a look at the building head and shoulders top on the March soybean daily chart. However, as I settled in to put the piece together, I was hit [...]

As I mentioned in Morning Commentary, there are a number of markets to watch Friday for potential reversal patterns on weekly charts. USDX: A bullish spike reversal if if closes above last week's settlement of 102.01 Weekly stochastics posted a [...]

During one of my market conversations Thursday, I actually made the comment that Kansas City wheat was following its technical patterns well. Having been around the HRW wheat market all my life, a chill immediately went down my spine after [...]

The stage is set for new-crop July Kansas City (HRW) wheat to extend its minor (short-term) uptrend. The contract has rallied off Monday's low of $8.0150, with resistance at the previous 4-day high of $8.3925 now in sight. July KC [...]

I had a request for an updated look at the daily chart for March S&P 500 futures (ESH3) following the combined rally of last Friday through this past Monday. As always, I appreciate the input and feedback from all of [...]

Monday is one of those mornings when I look up and an hour has already gone by since the opening bell. A number of markets spent that time making big moves, including March feeder cattle. Here we see March feeders [...]

The daily charts for March copper are interesting. I say 'charts' because I'm looking at both the candlestick (slide 1) and bar chart (slide 2), and both show me something sillier. Wednesday's session left what is called a bearish dragonfly [...]

It has already been a bearish day for the US dollar index ($DXY), and it is only 9:00 (ET). The early morning hours saw the $DXY take out its previous low of 101.77 from this past Monday, a session that [...]

I've talked with a couple of you recently about a possible short-term top on the daily chart for the S&P 500 contract. However, last week saw the index extend its rally bit by bit with the futures contract hitting a [...]

As I mentioned in Monday morning's Quick Take, the US dollar index ($DXY) is in position to complete a bullish reversal on its short-term daily chart. Overnight through early Friday morning saw the $DXY extend its minor (short-term) downtrend to [...]

As I mentioned in Friday's Morning Commentary, March lumber is in position to post a new 4-week high this week. The contract extended its recent rally to $423.00 (per 1,000 board feet) during Thursday's session before closing at $420.20, with [...]

The March crude oil contract posted a new 4-day high on its daily chart, a bullish reversal pattern confirming the minor (short-term) trend has turned up. I say 'confirming' because we also saw a bullish spike reversal back on January [...]

As I said in Afternoon Commentary, there was a lot going on in March corn Tuesday, with the bottom line being the Goldilocks Principle was proven once again. For those new to this analysis the Goldilocks Principle tells us, "Daily [...]

March corn broke out of its continuation patter overnight through early Monday morning, a pattern I'll call for now a bearish flag. Let's break it down the move so far: The top-half of the flagpole fan from the completion of [...]

Think of this as Friday's Chart of the Day, posted on a Saturday to allow the US dollar index (USDX) to settle for the week. As I mentioned in Afternoon Commentary, Friday's sharp selloff created an interesting pattern on the [...]

The Chicago (SRW) wheat March-May futures spread has been a wild ride the last month or so. A look at the spread's daily close-only chart shows it bottomed out on December 2 at a carry of 12.25 cents and covering [...]

Things are happening quickly in the crude oil market following Tuesday's key bearish reversal on the continuous daily chart. The spot-month Feb contract posted a high of $81.50 Tuesday before falling below last Friday's low of $77.71 and closing at [...]

As I mentioned in Monthly Analysis: Currencies, the US dollar index was in position to see a turn to a secondary (intermediate-term) uptrend. It didn't take long into 2023 as the $DXY rocketed higher overnight through early Tuesday morning, gaining [...]

I was visiting with a friend about crude oil Wednesday, and the question was if the day's low of $77.30 was close enough (The Horseshoe Proximity) to the minor (short-term) downside target of $77.03 to say a Wave 4 had [...]

The boxed beef market has been rocketing higher of late, with the choice price reported by USDA (so take it for what it's worth) at $280.04 Tuesday afternoon. This set a number of interesting markers: It was the highest daily [...]

As mentioned in Morning Commentary, it's possible March corn posted a Wave 3 peak of its 5-wave minor (short-term) uptrend overnight. The contract hit a high of $6.4475, a solid test of the upside target near $6.4425, the 38.2% retracement [...]

If nothing else, financial television is good for a laugh. In fact, one could make the argument there are better comedy writers on some of these networks these days than those that actually have programs actually classified as situation comedies [...]

A good friend and I were discussing the sideways pattern on February live cattle's weekly chart I talked about in Weekly Analysis Monday. In Theoretical Positions I mentioned the possibility of putting a long straddle in place given the low [...]

The subject of a Horseshoe Proximity (Close is close enough) has come up a couple times already, once in Weekly Analysis of March feeder cattle and again here as I look at the weekly chart for the US dollar index. [...]

As I was typing Friday’s Morning Commentary, I realized I could get into a longer discussion on the February WTI crude oil contract. Given the same subject was this past Tuesday’s Chart of the Day (A Strong Start), I decided [...]

I mentioned in Thursday's Afternoon Commentary how the March soybean contract was in short-term consolidation range. The pattern was similar to what we recently saw on the market's various weekly charts with support and resistance at converging trendlines. As I [...]

Much of the attention was on crude oil again Tuesday, with the spotlight turning toward the February WTI contract. A look at the daily chart shows Feb crude broke through resistance at its previous 4-day high of $75.53 on its [...]