Here's the chart and daily text from Socrates.

Chart Text - Daily

The Live Hogs (CME) made a new low today after a high was made during the previous session. Nevertheless, this market has not yet breached our underlying system support levels. Interestingly, this market opened lower making a new low down 0.50% under the previous low which was a sharp decline intraday but we closed back above the previous low but still closed lower at the end of the day. This market has closed lower for this week compared to last week's closing of 9067. Nevertheless, the market has plunged significantly by 5.38%. 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 bullish. Noticeably, the market has exceeded the high of the previous rally which was 9162.
We did close below the previous session's Intraday Crash Mode support indicator at 9197 settling at 8997 which alerted us to a further decline was likely going into the instant session. The immediate Crash Mode support for this current session was 8874 which we have now closed back above suggesting the crash is subsiding. The Intraday Crash indicator for the next session will be 8372. Now since we closed back above this indicator in the current trading session, then holding above this indicator for the next session will imply the decline is subsiding. The Secondary Intraday Crash Mode support lies at 8312 which we are trading above at this time. A breach of this level with a closing below will signal that a sharp decline is possible.
Intraday Projected Crash Mode Points

Today...... 8874
Previous... 9197
Tomorrow... 8372

We did close below the previous session's Intraday Projected Breakout Resistance indicator which was 9522 settling at 8997 gesturing that the market is not in a breakout mode at that precise moment. The current Projected Breakout Resistance for this session was 9499 which we still closed below. The Projected Breakout Resistance indicator for the next session will be 9236. 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 9236 during the next session warns the upward momentum may be lost and a retest of support becomes possible.

Intraday Projected Breakout Resistance

Today...... 9499
Previous... 9522
Tomorrow... 9236

NEXT OPEN COMMENT
Taking a broader cyclical view point, the market is still in a positive position at this time