June triggered my Buy Signal yesterday, with the close above 76.82. I did have a pair of fishing lines set @ 76.85 and banked both of them @ 77.50 and 77.75 not expecting it to close above the 76.82 trigger. When it did, I knew what to do today, reset my buy orders @ 76.85 and wait to see if a streak of Luck showed up on my doorstep. Grabbed a deposit @ 78.00 and holding the other one for the 78.40 deposit order. If not hit by 11:30 CST, I'll take what I have if Damage Control @ 77.20 hasn't taken me out.
This is the first Buy Signal in 3 months, so I have no other choice but to Respect it as long as it remains active. Of course the usual knee jerk response is to quickly negate the Buy Signal in 1-3 days. A daily close above 78.07 would confirm the Buy Signal and open the door for the new menu target @ 79.00-79.40. Since that target is the top of the addictive $5 range, I don't expect a quick explosion back to the 82-83 resistance area. The hog market does like or can spend weeks bottom basing the $5 range to build the Launching Pad. With that thought, I have my doubts that the confirmation close above 78.07 will happen------but if it does-----I have no other choice but to reset my buy orders. The battle for the bulls is turning in their favor when Buy Signals show up in a Bear Market.
Let the market build the Launching Pad with 3-5 weeks of sideways trade. There's always Great Fishing for Bank Account Growth while building the Launching Pad.