I had my fishing lines in place for Aug @ 79.20 and expected them to be hit. Is this the beginning of a $5 rally for Aug hogs? I would sure like to think so but it has to get past the Brick Wall Dam between 79.50-80.20. So I have to play it by the book and made a deposit @ 79.50 and still have Damage Control @ 78.80 for the one still on the line. Aug hogs really needs to stay above 79.00 to keep additional down momentum from taking hold with a Death Grip.

My cycles were calling for a cycle low yesterday, so today's new daily count cycle needs to give a daily close above yesterdays close of 78.35 for me to be more convinced that a $5 rally is in the beginning stages. The quicker August hogs blow through 80.20 resistance the better. I also have a buy signal waiting to be triggered with a daily close above 80.97, which needs to happen before I can say the $5 rally back to retest 83.50-84.82 resistance is underway. It wouldn't surprise me to see the rest of the week battle between 78.80-80.00 while the trade waits for July to expire. This week is the attempt to build the launching pad, next week we find out if there is a Launch or if it fails. If there is a LAUNCH it has to get past the GRAVITY ZONE @ 84.82 to turn a $5 rally into the $10 rally.