7/20/15 was (as expected) down 0.34 to 79.48. As I look at my screen, I see that the QQQs are discounted to the component by 4.71. It seems that each time the CME Index eases a little, the futures do also and the has kept the "Gap" between 4.00 and 5.00 for a while.

The six-day moving average carcass weight fell out of bed this morning dropping below 211.0# for the first time in a long, long time. It was especially packer-hogs that dropped. Non-packer hogs were down but packer hogs were down nearly a pound and a half. The six-day moving average carcass price is now down 2.5# from the same day last year but compared to 2013 the weight is +7.25#.

Scalping the QQQs from the short side has been good this morning using signals generated by the trend-line reversal method.

Best wishes,

dhm