This report was sent to subscribers on 8/21/10 8:30 a.m. Chicago time to be used for trading on 8/23/10. Everything is done by Howard Tyllas, no program or black box.
October Cattle (elec.)
After the close recap on 8/23/10: My resistance was 100.00, the exact actual high, and my pivot acted as support and was 99.15, just .02 from the actual low
Results for 8/23/10 were:
Soybeans: My resistance was .04 1/4 from the actual high; my support was .00 3/4 from the actual low.
Corn: My resistance was .01 1/4 from the actual high; my support was .00 3/4 from the actual low.
Crude Oil: My resistance was .38 from the actual high; my support was .46 from the actual low.
S&P: My resistance was 1.75 from the actual high; my support was 3.25 from the actual low.
Gold: My resistance was $4.20 from the actual high; my support was $3.90 from the actual low.
Euro: My resistance was .51 from the actual high; my support was .33 from the actual low.
Bonds: My resistance was 8 from the actual high; my support was 13 from the actual low.
Nat. Gas: My resistance was .012 from the actual high; my support was .004 from the actual low.
Cattle: My resistance was the EXACT actual high; my support was .02 from the actual low.
Subscribe now! Do yourself a favor and get your numbers after the market is closed to be used for the next session trading. Ask yourself how much would it have been worth to read my comments and get my numbers 14 hours before today's open outcry?
All charts and numbers for 8/24/10 have already been sent to subscribers at 5:10pm.
Use the same numbers as used on 8/20/10
Trend 91.85 is the 200 day MA
5 day chart....... Up (last week same day)
Daily chart ...... Up
Weekly chart .......Up ATR 1.29
Monthly chart.... Sideways Overbought 86%
I said "Gap was filled at 99.92 and continues to act as resistance. Top channel line acts as support" (at 98.00 on Monday).
October Cattle (elec.) for 8/23/10:
In my daily cattle numbers on Friday; my resistance was .45 from the actual high, my pivot acted as support and was .17 from the actual low.
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 support and helpful resistance at best. I have the same thoughts and numbers as on Friday.
New Subscribers: Keep in mind that these are day trading numbers. They are equally to be used for swing trading and longer term trading time frames on the day I want to enter or exit my position. The charts are to be used for overall trade location looking for areas of price discovery of support and resistance levels. When the market does go to the charts longer term support or resistance levels such as bracket lines or longer term trend lines, I use my numbers on that day to enter or exit my position. The numbers do not tell you what to do, you are in control of that, but they will give you a framework to try and buy or sell at the best price for that day. For me it gives me a strategy and the best way I have found to discover the best price for entering or exiting my trade ideas.
If I have the exact numbers for the actual high and low of the day 12 hours in advance, the question has always been, how do I trade it? That is what I best describe in my numbers explanation. Any intuitiveness or nuances I trade, I would keep a journal to see if it is worthwhile overriding my plan. I rarely go against my explanation
October Cattle (elec.) for 8/20/10:
Cattle: Spot on resistance off .02 and accurate support numbers. Another example of the power of a gap which once again provided a good place to risk a little to make a lot if it holds. Using my normal .35 or .40 buy stop, I was never threatened being stopped out. It only took 10 minutes to watch the market break 1.00. I want to play the sell side only taking the sell signals today and risk .35 on a buy stop to protect.
October Cattle (elec.) for 8/19/10:
Spot on support off .02 but the resistance was helpful at best. What was more than helpful was my only comment for the last 2 days saying "If the market can close above 77.20, the next real resistance is the gap at 99.92".
The market is at 99.12 as I write! Any short who did not get out with Wednesday's close above 97.20 ignored the chart, and is an example of how the charts give me parameters of wrong or right, not the fundamentals.
Results for 8/19/10 were:
Soybeans: My resistance was .00 1/4 from the actual high; my support was .04 1/4 from the actual low.
Corn: My resistance was .01 1/4 from the actual high; my support was .03 from the actual low.
Crude Oil: My resistance was .53 from the actual high; my support was .13 from the actual low.
S&P: My resistance was 3.00 from the actual high; my support was 2.00 from the actual low.
Gold: My resistance was $5.00 from the actual high; my support was $4.50 from the actual low.
Euro: My resistance was .44 from the actual high; my support was .38 from the actual low.
Bonds: My resistance was 5 from the actual high; my support was 6 from the actual low.
Nat. Gas: My resistance was .001 from the actual high; my support was .001 from the actual low.
Cattle: My resistance was .07 from the actual high; my support was .27 from the actual low.
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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.
Hog & Corn Comments – Hog & Corn Comments – 08/23/10 USDA makes mistake, cutout up $.18 not $2.30