August Cattle (elec.) Daily Numbers & Trade Ideas for 7/12/10
Jul 12, 2010
This report was sent to subscribers on 7/10/10 11:00 p.m. Chicago time to be used for trading on 7/12/10. Everything is done by Howard Tyllas, no program or black box.
August Cattle (elec.)
After the close recap on 7/12/10: My pivot acted as resistance and was 90.47, just .02 from the actual high, and my support and was 89.80 FG, just 0.05 from the actual low
Results for 7/12/10 were:
Soybeans: My resistance was .01 from the actual high; my support was 04 3/4 from the actual low.
Corn: My resistance was .00 3/4 from the actual high; my support was .02 1/2 from the actual low.
Crude Oil: My resistance was .18 from the actual high; my support was .12 from the actual low.
S&P: My resistance was 2.25 from the actual high; my support was 2.25 from the actual low.
Gold: My resistance was 1.60 from the actual high; my support was 5.80 from the actual low.
Euro: My resistance was .01 from the actual high; my support was .02 from the actual low.
Bonds: My resistance was 15 from the actual high; my support was 10 from the actual low.
Nat. Gas: My resistance was .024 from the actual high; my support was .013 from the actual low.
Cattle: My resistance was .02 from the actual high; my support was .05 from the actual low.
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Trend 88.55 is the 200 day MA
5 day chart....… Up (last week same day)
Daily chart …… Sideways
Weekly chart …….Up ATR 1.12
Monthly chart.... Sideways Overbought 69%
August Cattle (elec.) for 7/12/10:
I said "Gap from Tuesday at 88.75 should hold or the bulls will be on shaky ground".
I said "Notice how the top channel line acted as perfect resistance on Thursday maintaining the channel".
In my daily numbers on Friday; my resistance was .35 from the actual high, my support was .30 from the actual low.
Notice how I use the open outcry chart to locate gaps, but I do my numbers for the electronic market as always. Open outcry is where I find the major players doing business.
Cattle: Accurate numbers. In the middle of the channel again and that gives me no bias. Gaps just below and the top channel line rejecting further advance just above, leads me to day trade using the numbers only and not risk more than .40 on any trade idea.
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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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.