the weekly chart triggered a sell signal(my qualifier signal) last week with the weekly close below 123.97 via Aug the front month. Sell signals carry a grey area action reaction responses. One weekly close does not confirm sell signal which I classify as the action. This week we get the reaction phase which can and many times does negate the sell signal. the second weekly close either confirms or negates the sell signal depending on close above or below 123.97. The 80/20 response reaction generally gives a knee jerk to negate the signal unless heavy downside pressure is applied to cash. The hog market has been in a strong uptrend for most of 2014 so generally speaking that trend will remain in tact the remainder of the year. No serious chart damage to any of the remaining contracts except for the normal addicted $10 range which may/can extend slightly. Aug has dropped its $10 qualifier and extended to almost $12. The 121.00 area should be support and give Aug the addicted $5 range of not knowing which direction to go with the 2 week expiration trade but having an 80% of the time bounce back to try and tag up with cash.

Aug should catch a knee jerk bounce to kiss the 9 day mov av at 126 or even test the 127.87 Time & Price square target which also lines up with the 20day av at 128.40. 126-128 is the bounce stopper area unless cash catches a strong up tic. The current $5 range is very tradable but I wouldn't advise thinking more than that. Any upside surprises will be saved for the Oct contract after its had a 3-5 week tumble into early Sept as cash makes its seasonal drop and much anticipated at the moment. Oct hogs could dish out counter seasonal surprises at any time.