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 2.85% under the previous low and then closed
below that the previous low plunging significantly in panic mode by 5.83% from the previous session's
high. A break of today's low of 6540 during the next trading session will warn of a potentially serious
decline ahead. The last important high was formed on Thursday July 6th at 10075 which was 76
trading days ago.

During the last session, we did close above the previous session's Intraday Crash Mode support
indicator which was 6621 settling at 6800. The current Crash Mode support for this session was 6649
which we penetrated intraday and closed below warning this market is in a panic type sell-off. The
Intraday Crash indicator for the next session will be 6135. Normally, when you open back above this
pivot number or closed back above it then the sell-off is subsiding. So, watch this number which is
dynamic for it changes with each session.

Intraday Projected Crash Mode Points
Today...... 6649
Previous... 6621
Tomorrow... 6135

This market has declined after making a high in the previous session, and this type of trading pattern
warns normally of a further decline ahead. If the market opens BELOW today's low of 6540, then we
can see a slight panic to the downside. However, we have not elected any bearish Reversals to in this
session.

As of now, the market remains bearish on the short-term levels of our indicators while the long-term
trend and cyclical strength are bearish. This market has technically broken through the bottom of our
projected envelope of support at 6749 warning this decline has been rather reasonable down 11% from
the high made 10/06. We have elected all four Bearish Reversals from that high showing weakness.

We did close below the previous session's Intraday Projected Breakout Resistance indicator which was
6910 settling at 6800 gesturing that the market is not in a breakout mode at that precise moment. The
current Projected Breakout Resistance for this session was 7052 which we still closed below. The
Projected Breakout Resistance indicator for the next session will be 6779. 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 6779 during the next session warns the upward momentum may be lost
and a retest of support becomes possible.

Intraday Projected Breakout Resistance
Today...... 7052
Previous... 6910
Tomorrow... 6779