August Cattle (elec.)

After the close recap on 7/9/10: My resistance was 91.52 FG, .35 from the actual high, and my support was 89.80 FG, .30 from the actual low

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Hedging Corn and Soybeans

RSS By: Howard Tyllas, AgWeb.com

Howard Tyllas is currently a member of the Chicago Board of Trade and registered with the Commodity Futures Trading Commission as a floor broker and as a Commodity Trading Advisor.

August Cattle (elec.) Daily Numbers & Trade Ideas for 7/9/10

Jul 11, 2010



This report was sent to subscribers on 7/8/10 5:00 p.m. Chicago time to be used for trading on 7/9/10. Everything is done by Howard Tyllas, no program or black box.

August Cattle (elec.)

After the close recap on 7/9/10: My resistance was 91.52 FG, .35 from the actual high, and my support was 89.80 FG, .30 from the actual low

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92.20 XX                         

91.52 FG                         

--------------90.65       Pivot 

89.80 FG                           

89.47 FG                           

 

Trend                       88.55  is the 200 day MA    

5 day chart....…      Up (last week same day)                                                          

Daily chart   ……   Sideways                 

Weekly chart …….Up                     ATR 1.05

Monthly chart....    Sideways       Ex. Overbought 90%


I continue to say "Bracket line is support and as long as the market holds there the longer term bullish trend remains intact". "Bulls left a "spike low" from (last) Tuesday which is a bullish chart signal".

August Cattle (elec.) for 7/9/10:

I said "Bull channel is forming. Gap from Tuesday at 88.75 should hold or the bulls will be on shaky ground".  

 Notice how the top channel line acted as perfect resistance on Thursday maintaining the channel.

In my daily numbers on Thursday; my resistance was .15 the actual high, my support was .40 from the actual low.

 Cattle: Spot on resistance and helpful support. Notice how the top channel line was perfect resistance on Thursday. Bulls are trying to break out to the upside from this channel. I continue to want to sell against that line and risk no more than .40 on the trade idea.   

August Cattle (elec.) for 7/8/10:

Cattle: Spot on resistance and accurate support. I have the same thoughts as yesterday.

August Cattle (elec.) for 7/7/10:

Cattle: Spot on numbers! The uptrend channel is intact because the bulls failed to go supersonic and breakout of the channel to the upside. That is another example of why I use channel lines for support and resistance. Since we are in the middle of those channel lines today, I would only day trade this market today using the numbers without bias and not risk more than .40 on a stop to protect.

August Cattle (elec.) for 7/5/10:

Cattle: Spot on numbers! This chart could go either way today, so I would only day trade the numbers without bias today.

Cattle:  My resistance was .07 from the actual high; my support was .10 from the actual low. 

Results for 7/2/10 were:

Soybeans: My resistance was .04 3/4 from the actual high (only .00 1/2 away in open outcry); my support was .01 1/4 from the actual low.

Corn:    My resistance was .01 from the actual high; my support was .00 1/4 from the actual low. 

Crude Oil: My resistance was .06 from the actual high; my support was .43 from the actual low.

S&P:    My resistance was 8.50 from the actual high; my support was 4.75 from the actual low. 

Gold:     My resistance was 0.50 from the actual high; my support was 2.80 from the actual low. 

Euro:    My resistance was .67 from the actual high; my support was .80 from the actual low. 

Bonds: My resistance was 10 from the actual high; my support was 5 from the actual low. 

Nat. Gas: My resistance was .063 from the actual high; my support was .055 from the actual low. 

Want to know what I think for tomorrow and going forward?

The 9 markets now covered daily are Soybeans, Corn, Crude oil, S&P, Euro FX, 30 yr TBond, Gold, and  Natural Gas and Cattle

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Feel free to email with any comments or question you:  www.howardtyllas@howardtyllas.com

 

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           May Your Next Trade Be The Best                          

                     Howard Tyllas            

  

Disclaimer:     No guarantee of any kind is implied or possible where projections of future conditions are attempted. Futures trading involve risk. In no event should the content of this be construed as an express or implied promise, guarantee or implication by or from Howard Tyllas, that you will profit or that losses can or will be limited in any manner whatsoever. No such promises, guarantees or implications are given. Past results are no indication of future performance.

 

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