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swmn/soin | I won`t go into the matters regarding the USDA report. It`s what the trade is going to focus on now.
My perspective is from a technical based approach. I will be the first to say it isn`t the holy grail of marketing, but it has definitely been a good marketing approach for me. Just a few observations here and I would welcome any and all opinions....technical, fundamental, or whatever.
1. Dow......getting toppy....based on the Elliot wave count structure....probably going to take out last years low in the
next year or two, starting sooner rather than latter.
2. Dollar.....maybe slightly lower near term, but then up into the 80-81 area, with 90 longer term.
3. Commodities.....lower
- crude back below 70
-corn...I am of the opinion we will see a print of sub $3.00 corn before we see anything above $4.50
corn has a 5 1/2 year cycle and we won`t see that bottom until spring or early summer. This would be the
time for livestock producers to get some feed needs covered.
-beans....afraid we`ll see prices go below the $9.00 mark
4. Interest rates....going to slowly work higher
Overall I am of the opinion things will get better over time, but short term a little tense.
Just remember to keep a positive mental attitude. Thanks for all the input everyone....keep up the good work here. Just wanted to try to be helpful here.
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Market matters....where to now?
