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The Real Deal *PIC*

Sorry, been so busy I don't know a cattle from a hog chart... I try to check in daily...just no time to post or work on charts.

Tough array to figure out...looks like a turning point tomorrow...with the next one on the 16th...it has a green trading cycle for that day. Panic cycle on the 10th, and the Lwave has me confused...The Peak aggregate on the 9th combined with the panic cycle and the close proximity of the red line is telling me that there is a good chance of price meeting time and that you should expect a turn here. Keep in mind that directional changes can be strong moves with the trend also.

The Cattle Futures (CME) made a new low today which has been a decline over the
past three trading days. However, we have elected one Bearish Reversal implying
that we should move down for the next trading session. Nevertheless, this market
has not yet breached our underlying system support levels. Interestingly, this
market opened higher making a new low down 0.77% under the previous low which
was a sharp decline and then closed below that the previous low falling again by
1.94% from the previous session's high. Here, the last cyclical low established at
13250 on 04/29 has not been broken. A break of this previous cyclical low will
signal a decline ahead.

During the last session, we did close above the previous session's Intraday Crash
Mode support indicator which was 13283 settling at 13377. The current Crash Mode
support for this session was 13234 which we closed above at this time. The Intraday
Crash indicator for the next session will be 13141. Now we have been holding above
this indicator in the current trading session, and it resides lower for the next
session. If the market opens above this number and holds above it intraday, then
we are consolidating. Prevailing above this session's low will be important to
indicate the market is in fact holding. However, a break of this session's low of
13262 and a closing below that will warn of a continued decline remains possible.
The Secondary Intraday Crash Mode support lies at 13020 which we are trading
above at this time. A breach of this level with a closing below will signal a sharp
decline is possible.

Intraday Projected Crash Mode Points
Today...... 13234
Previous... 13283
Tomorrow... 13141

This market has declined for 3 trading days. In the process, we have elected four
Daily Bearish Reversals. Don't forget that a Daily Bearish only indicates a lower low
in the next trading session. The Forecast Array suggests possible days for lows.

The Uptrend Line from the last low created at 13250 tied to the secondary low
made on 05/05 remains as resistance standing at 13393. Only getting above this
level on a sustained closing basis will signal a rally to the upside

Up to this moment in time, the market remains bearish on our momentum indicator
yet neutral on the short-term trend indicator while the long-term trend and
cyclical strength are bearish. Up to this moment in time, the last rally managed to
exceed the previous reaction high reaching 14000 but it did not exceed the
previous important high of 14870

We did close below the previous session's Intraday Projected Breakout Resistance
indicator which was 13716 settling at 13377 gesturing that the market is not in a
breakout mode at that precise moment. The current Projected Breakout Resistance
for this session was 13593 which we still closed below. The Projected Breakout
Resistance indicator for the next session will be 13436. Now this immediate
indicator in the current trading session is above the current close offering
projected resistance. Therefore, we either must open above it and hold or close
above it to imply the rally is still in play. Otherwise, failure to exceed 13436 during
the next session warns the upward momentum may be lost and a retest of support
becomes possible.

Intraday Projected Breakout Resistance
Today...... 13593
Previous... 13716
Tomorrow... 13436

Messages In This Thread

The Real Deal *PIC*
Re: Nothing to be sorry about-----