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Re: I have to agree DH, your thoughts

about the index usually not gaining that much more by the time June goes to cash. We have 12 trading days left until June becomes front month and if the lean index keeps working up into my potential cycle high window May 4th-6th to put the top in on this phase of the rally------June hogs are technically screaming BUY with last weeks close above 77.77 for the second time.

When a major resistance that has been broken once then taken back only to be broken again which resets a stronger technical buy signal. In this case 82.00 has become a marked target that also has the magnetic pull of bounce lines to make it a done deal. Most likely by next weeks cycle window. The trade mindset knows this is the time for seasonal moves higher and June being in a momentum and technical upswing generally brings a buy now and see how high it is when it becomes front month.

Until it is front month or 5 days from being front, the trade only see up and will trade likewise. The BIG MONEY that may have intent to sell is ok with that higher level-----a better risk/reward if/when they decide it's time to lay the hammer down. When it becomes front and cash is so much lower, the trade will then realize they are holding a hot potatoe. The wild card is what the spreaders do with the MAY/June spread. With only 2764 OI I don't know how much fire power May has over June to narrow that spread.

Messages In This Thread

The final Purchase Index for - - -
Re: May hogs have triggered
Ka! Ching!! Ka! Ching!! Now I have down - - -
Re: I have to agree DH, your thoughts