actually I was looking for it Monday and when it didn't happen, my hallucinations set in. Yesterdays setback looks like a typical psych play to feed the bears and suck in some weak shorts for stop running fuel to help the coming upside momentum break as fundamentals start to confirm a reversal. Aug hogs have now put in 50% of the reversal based on the technical needs and desires to retest old resistance at 77.00. It will push through 77.00 and the bears won't be too concerned until it goes past 78.00. That is when the fundamentals will confirm the reversal and panic buying sets in to move it up to 80.00-81.00 for the next $5 extension for the addiction fix of a $10 move off of the bottom.

All markets seem to have the addiction to over do any directional move, so an additional $2 will likely happen to give Aug hogs a retest of the late May high at the 84.00 area. The May 28th high @ 84.35 shows a 5 wave movement down to the 71.17 low on June 22nd, in 3 nearly equal legs. This is a very bullish setup with a high percentage predictability, calling for a LAUNCH back up to the selloff starting point. I now have the 60 minute chart showing an inverted head and shoulders at the bottom with two solid support legs(being the shoulders) at 74.30 for a SOLID LAUNCHING PAD. The countdown is in progress and we will have LIFT OFF, with a break of 77.27. Friday looks like a good setup for LIFT OFF to start and Monday could confirm LIFT OFF a success. If I get a daily close below 74.00----------I have to scrap everything and go back to the drawing board.

Possible time line for this space mission------3 weeks coming down off of 84.00 so the SUPERBALL BOUNCE may only take 3 weeks. When/If Aug hogs break 77.27-------you had better be long!! A pair of fishing lines are already set and waiting.