The Cattle Futures (CME) made a new low today after a high was made during the previous session which was a knee-jerk reaction. Nevertheless, this market has not yet breached our underlying system support levels. Interestingly, this market opened below the previous low making a new low but just marginally by 0.13% and it closed higher.
We have not broken below our intraday Crash Point number of 24466 suggesting this is not yet a panic sell-off type of move. During the last session, we did close above the previous session's Intraday Crash Mode support indicator which was 23851 settling at 24615. The current Crash Mode support for this session was 24466 which we closed above at this time. The Intraday Crash indicator for the next session will be 24441. Now we have been holding above this indicator in the current trading session, and it resides lower for the next session. If the market opens above this number and holds above it intraday, then we are consolidating. Prevailing above this session's low will be important to indicate the market is in fact holding. However, a break of this session's low of 24552 and a closing below that will warn of a continued decline remains possible. The Secondary Intraday Crash Mode support lies at 21402 which we are trading above at this time. A breach of this level with a closing below will signal that a sharp decline is possible.
Intraday Projected Crash Mode Points
Today...... 24466
Previous... 23851
Tomorrow... 24441
We did close below the previous session's Intraday Projected Breakout Resistance indicator which was 24804 settling at 24615 gesturing that the market is not in a breakout mode at that precise moment. The current Projected Breakout Resistance for this session was 25752 which we still closed below. The Projected Breakout Resistance indicator for the next session will be 25229. Now this immediate indicator in the current trading session is above the current close offering projected resistance. Therefore, we either must open above it and hold or close above it to imply the rally is still in play. Otherwise, failure to exceed 25229 during the next session warns the upward momentum may be lost and a retest of support becomes possible.
Intraday Projected Breakout Resistance
Today...... 25752
Previous... 24804
Tomorrow... 25229
DAILY TIMING TABLE FOR: 2026/05/15
| 15 | 18 | 19 | 20 | 21 | 22 | 25 | 26 | 27 | 28 | 29 | 1
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TURNING POINTS
| 21 | 24 | 42 | 21 | 24 | 24 | 36 | 27 | 15 | 36 | 21 | 30
DIRECTIONAL CHANGES
| 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1
PANIC CYCLES
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0
LONG-TERM EMPIRICAL
| 1 | 1 | 3 | 3 | 2 | 1 | 2 | 3 | 1 | 0 | 2 | 2
VOLATILITY
| 0 | 0 | 4 | 2 | 3 | 8 | 3 | 2 | 5 | 5 | 8 | 9