sure didn't start from where I wanted it to start. I think the ALGO traders are playing games with us. I have to agree with you on your bottom reversal thoughts. The one problem we are faced with now, is that Aug hogs need a daily close above 76.70 to trigger a buy signal and a close above 77.27 to confirm a reversal of the downtrend to go after the 79.00, 80.00, and 81.00 targets.

This has the look of a classic hog market fake out, just before the short positions start unloading their boats. They must have unloaded a bunch the first 60 minutes. The 60 minute chart shot above the downtrend line on June 30th, with 5 days up, then 5 days down today as it hit that downtrend line extending down from June 30th. It hit that line at 71.40 in less than 5 minutes but the bottom of the second 5 minute bar was 71.50 with bounce energy to take it back up above where it started from in a matter of 45 minutes. I call that downtrend line that gave the 60 minute reaction bounce a SPRING BOARD LINE. All markets use this type of action/reaction in the bottom process, the hog market does it best and most pronounced.

I hope to see this 60 min superball bounce turn into a 2-3 day extension back up to 76-77 before the bounce energy subsides to sideways. Needs a daily close above 74.30 to negate the sell signal triggered Thursday. I will have fishing lines set at 74.60 tomorrow to add to the 1 bought at 73.00. Back above 74.00 after such a deep fall is a positive sign. I don't expect my 82.00 target from several weeks ago, has much chance of happening but you never know. I do know I'm getting tired of being stopped out.

Aug hogs have always seemed to trade the same level that July expires at when it takes over as front month. So the 79.00 area is now my minimal expectations. How quick, how long, or how much extra can only be answered by somebody that has a crystal ball. The last 2 weeks have proven I don't have one. Will the bears attempt to reload their boats at 75.00 or 77.00?