Translate

Search This Blog

Search Tool




Aug 17, 2009

Major signal issued on the Nasdaq New Video: By Adam Hewison

This is an important analysis just worked out on the Nasdaq Market Index, by Adam as a result of this confusing OF ups and downs of major Markets Indices. With the use of major technicals tools to evaluate the Nasdaq, Adam gives us a perpective of what could happen in this market.

Fernando Guzmán Cavero
FGC BOLSA - FGC FINANCIAL MARKETS

_____________________________________________________________________

They Say That Timing In Life Is Everything

Well here I am at my vacation home in Maine watching the markets go crazy. Yes, we are so lucky to have access to the Internet and to the markets themselves no matter where we are in the world.

I didn’t plan on doing a video today, but the market action left me no choice. Today we witnessed an important “Trade Triangle” signal in this major index that should not be ignored.

In my new video, I share with you this same signal that thousands of MarketClub members witnessed and will discuss some of the potential downside targets for this index.

This is a video that is worth watching as I think we should all be prepared for what lies ahead.

http://www.ino.com/info/431/CD3233/&dp=0&l=0&campaignid=3

There is no need to register for this video and of course you can watch it with my compliments. Enjoy the video and please give us your feedback on our blog.

All the best,

Adam Hewison
President, INO.com
Co-Creator, MarketClub

CNBC : Dow loses 2% in Worst selloff in 7 weeks


Published: Monday, 17 Aug 2009 | 4:40 PM ET
Text Size
By: Cindy Perman
Writer

The correction may finally be starting: Stocks plunged more than 2 percent Monday as traders cashed in on some of the gains from the four-week rally.

The selloff started overseas, with Chinese stocks tumbling nearly 6 percent. Other Asian markets losing more than 3 percent, and major European indexes lost more than 2 percent.

The Dow Jones Industrial Average shed more than 180 points, or 2 percent, to close at 9,135.34. It was the index's biggest point and percentage decline since July 2. The S&P 500 lost 2.4 percent and the Nasdaq tumbled 2.8 percent. The VIX, the best gauge of fear in the market, jumped 14 percent, finishing just shy of 28.

Major U.S. Indexes
9135.34
-186.06
-2%
898,503,000
1930.84
-54.6801
-2.75%
0
979.73
-24.36
-2.43%
4,141,950,700

There has been a growing chorus of market pros who say the market got way ahead of itself, the rally of the past month was founded on nothing and a correction is coming.

“There’s no basic foundation for the run-up we’ve had, been far too rapid," Dan Deighan, founder of Deighan Financial Advisors, told CNBC today. He predicts we're going to see a 25 to 50 percent drop in the market — and it's going to be fast.

This echoed comments on Friday by Pimco's Mohamed El-Erian, who said, "Stock investors are making overly optimistic assumptions" and that "[c]urrent valuations are not warranted by the outlook for 2010."

But Bruce McCain, chief investment strategist at Key Private Bank, said this is a normal correction and investors shouldn't panic.

McCain says, this correction will likely be 10 percent at best — say, bringing the S&P to 900 from 1,000 — and will be over in a few months. Then, stocks will start to go back up.

"A substantial portion of this rally is still yet to come," McCain said. "We're cautioning clients not to sit on the sidelines too long — to push ahead of their comfort level" so they don't miss out on the rally when it picks up again.

"We feel pretty confident telling our clients to make sure they're fully invested," McCain said. "As we get to the end of the year, we'll watch the trends and maybe pull back a bit," he explained.

Signs of a correction started last week, when stocks snapped a four-week rally that had pumped up the Dow by 15 percent.

Investors shrugged off another encouraging economic data point: The New York Fed reported its measure of manufacturing activity in the region moved into positive territory — signaling growth — for the first time since April 2007.

Financials sold off as several companies, including Bank of America [BAC 16.56 -0.83 (-4.77%) ] and Capital One [COF 34.06 -1.02 (-2.91%) ], said credit-card defaults rose in July.

The market was also buzzing about the Fed's decision to extend the TALF another six months, which means through June 2010, as the credit market remains "impaired."

Bank of America was one of the top three drags on the Dow, along with Alcoa [AA 12.41 -0.86 (-6.48%) ] and Caterpillar [CAT 43.95 -2.05 (-4.46%) ], which each lost more than 4 percent.

There were only two gainers on the Dow — Pfizer [PFE 15.88 0.11 (+0.7%) ] and Coca-Cola [KO 48.70 0.23 (+0.47%) ].

Lowe's, [LOW 20.47 -2.36 (-10.34%) ] the number two home improvement retailer, added to the market's poor mood after reporting its profit plunged 19 percent, much worse than estimates.

Lowe's shares skidded more than 10 percent, making them one of the biggest decliners on the S&P 500, along with Liz Claiborne and Abercrombie & Fitch.

Over on the Nasdaq, the hardest hit of the indexes, UAL, Electronic Arts and Wynn Resorts were among the biggest decliners, all down more than 8 percent.

Lowe's rival Home Depot [HD 26.11 -1.03 (-3.8%) ] saw its shares tumble ahead of its earnings, due out before the bell Tuesday.

Shares of BJ's Wholesale Club [BJ 30.52 -0.53 (-1.71%) ] fell after J.P. Morgan Securities downgraded the stock to "neutral" from "overweight."

Retail has been in the spotlight after a disappointing retail-sales report from the government last week and investors look to the back-to-school shopping season for indications of how the economy is doing.

Volume was light, with 1.22 billion shares changing hands on the New York Stock Exchange. Decliners outpaced advancers, roughly 9 to 1.

On Tap for Next Week:

TUESDAY: Housing starts; PPI; Earnings from Home Depot, Saks, Target, TJX, HP and Analog Devices
WEDNESDAY: Weekly mortgage applications; weekly crude inventories; Earnings from Deere, Limited
THURSDAY: Weekly jobless claims; leading indicators; Philly Fed survey; Earnings from Gamestop, Hormel, and Sears
FRIDAY: Existing-home sales; Earnings from JM Smucker

Send comments to cindy.perman@nbcuni.com.

© 2009 CNBC.com
M O N D A Y M O R N I N G E X T R E M E M A R K E T S
A complimentary service from INO.com ( http://www.ino.com/ )

_____________________________________________________________________

What Bear Market?

Now more than ever, traders need to find unique ways to
thrive in the markets. Enhance returns and reduce risk with
a diversified system that can profit in both up and down markets.
Complimentary Real Time Trading Demo.
http://www.ino.com/specials/platinum/spreadsAug09.html
_____________________________________________________________________

KEY EVENTS TO WATCH FOR:

Monday, August 17, 2009

8:30 AM ET. Aug NY Fed Empire State Survey

Manufacturing Index (previous -0.55)

Employment Index (previous -20.83)

New Orders Index (previous 5.89)

Prices Received Index (previous -8.33)

9:00 AM ET. June Treasury Intl Capital Flows, in dollars

Monthly Net TIC Flows (previous -66.6B)

Net Foreign Acquisition of Long-Term Securities (previous -37.2B)

Net Foreign Acquisition of US Agency Debt (previous +12.8B)

Net Foreign Acquisition of US Corp Bonds (previous +940M)

Net Foreign Acquisition of US Equities (previous +16.7B)

Net Foreign Acquisition of US Treasury Bonds & Notes (previous -22.6B)

Net Long-Term Securities Transactions (previous -19.8B)

1:00 PM ET. Aug NAHB Housing Index

Housing Market Index (previous 17)

Key Events and Commentary available earlier every morning, via MarketClub (http://www.marketclub.com/)

The STOCK INDEXES http://quotes.ino.com/exchanges/?c=indexes

The September NASDAQ 100 was sharply lower overnight and trading below the reaction low
crossing at 1585.75. Stochastics and the RSI are bearish signaling that sideways to lower prices
are possible near-term. Closes below the reaction low crossing at 1585.75 would confirm that a
short-term top has been posted while opening the door for a larger-degree decline near-term. If
September renews this summer's rally, the 75% retracement level of last summer's decline crossing
at 1761.81 is the next upside target. First resistance is the 20-day moving average crossing at
1602.75. Second resistance is the 10-day moving average crossing at 1612.60. First support is the
overnight low crossing at 1580.75. Second support is the 38% retracement level of the July-August
rally crossing at 1544.68. The September NASDAQ 100 was down 29.00 pts. at 1585.75 as of
5:25 AM CST. Overnight action sets the stage for a lower opening by June NASDAQ 100 when
the day session begins later this morning.

The September S&P 500 index was sharply lower overnight and is trading below the 20-day
moving average crossing at 988.14. Stochastics and the RSI are turning neutral to bearish
signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving
average crossing at 988.14 would confirm that a short-term top has been posted while opening the
door for a larger-degree decline during August. If September renews this summer's rally, the 38%
retracement level of the 2008-2009 decline crossing at 1044.11 is the next upside target. First
resistance is last Friday's high crossing at 1015.90. Second resistance is the 38% retracement level
crossing at 1044.11. First support is the overnight low crossing at 982.70. Second support is the
reaction low crossing at 964.10. The September S&P 500 Index was down 19.60 pts. at 986.20 as
of 5:28 AM CST. Overnight action sets the stage for a sharply lower opening by the September
S&P 500 index when the day session begins later this morning.


---------------------------------------------------------------------

Brilliant trading report (while it's still available)

http://broadcast.ino.com/redirect/?linkid=1050

---------------------------------------------------------------------

I just wanted to give you the heads up on a
brilliant report I just read. You can get it here:

http://broadcast.ino.com/redirect/?linkid=1050

This is actually like a minicourse that will
dramatically improve your trading. It costs nothing
and you will continually receive the latest and
best trading systems and methods.

Many of you know Mark McRae's work and he has a
reputation of over delivering with his material.
Anyway, I enjoyed McRae's email and I though it
might be of interest to you.

http://broadcast.ino.com/redirect/?linkid=1050


---------------------------------------------------------------------

INTEREST RATES http://quotes.ino.com/exchanges/?c=interest

September T-bonds were higher overnight as it extends last week's rally. Stochastics and the RSI
are bullish signaling that sideways to higher prices are possible near-term. If September extends
this week's rally, July's high crossing at 121-15 is the next upside target. Closes below the 20-day
moving average crossing at 117-01 would temper the near-term friendly outlook in the market.
Closes below the reaction low crossing at 114-25 would renew the decline off July's high while
opening the door for a possible test of the reaction low crossing at 113-22 later this summer. First
resistance is the overnight high crossing at 119-15. Second resistance is July's high crossing at
121-15. First support is the 10-day moving average crossing at 117-06. Second support is the 20-
day moving average crossing at 117-01.
ENERGY MARKETS http://quotes.ino.com/exchanges/?c=energy

September crude oil was lower overnight as it extends last Friday's decline below the 20-day
moving average, which confirmed that a double top with June's high has been posted. Stochastics
and the RSI are bearish signaling that sideways to lower prices are possible near-term. If
September extends the decline off last week's high, the reaction low crossing at 62.70 is the next
downside target. Closes above the 10-day moving average crossing at 70.03 are needed to confirm
that a short-term top has been posted. First resistance is the 20-day moving average crossing at
68.67. Second resistance is the 10-day moving average crossing at 70.03. First support is the
overnight low crossing at 65.65. Second support is the reaction low crossing at 62.70.

September heating oil was lower overnight and below the 20-day moving average crossing at
184.27 as it extends the decline off this month's high. Stochastics and the RSI are bearish hinting
that a double top with June's high might be forming. Closes below the 20-day moving average
crossing at 184.27 would confirm that a double top with June's high has been posted. Closes above
the 10-day moving average crossing at 189.85 would temper the near-term bearish outlook in the
market. First resistance is the 20-day moving average crossing at 184.27. Second resistance is the
10-day moving average crossing at 189.85. First support is the overnight low crossing at 180.05.
Second support is the reaction low crossing at 168.30.

September unleaded gas was lower overnight as it extends last Friday's breakout below the 20-day
moving average crossing at 195.83, which confirmed that a double top with June's high has been
posted. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible
near-term. If September extends last Friday's decline, the reaction low crossing at 179.55 is the
next downside target. Closes above the 10-day moving average crossing at 201.51 are needed to
confirm that a short-term top has been posted. First resistance is the overnight high crossing at
195.60. Second resistance is the 10-day moving average crossing at 201.46. First support is the
overnight low crossing at 191.80. Second support is the reaction low crossing at 179.55.

September Henry natural gas was lower overnight and is testing weekly support crossing at 3.155
as it extends this month's decline. Stochastics and the RSI are oversold but remain bearish
signaling that sideways to lower prices are possible near-term. If September extends this month's
decline, weekly support crossing at 2.640 is the next downside target. Closes above the 20-day
moving average crossing at 3.681 would temper the near-term bearish outlook in the market. First
resistance is broken trading range support crossing at 3.366. Second resistance is the 10-day
moving average crossing at 3.584. First support is the overnight low crossing at 3.142. Second
support is weekly support crossing at 2.640.
CURRENCIES

The September Dollar was higher overnight as it extends last Friday's rally. Stochastics and the
RSI are turning neutral signaling that sideways to higher prices are possible near-term. If
September extends the overnight rally, the reaction high crossing at 79.81 is the next upside target.
Closes above the reaction high crossing at 79.81 are needed to confirm that a short-term low has
been posted and would open the door for a larger-degree rebound during August. Closes below the
reaction low crossing at 77.52 would renew this summer's decline. First resistance is the reaction
high crossing at 79.51. Second resistance is the reaction high crossing at 79.81. First support is
last Wednesday's low crossing at 78.33. Second support is this month's low crossing at 77.52.

The September Euro was sharply lower overnight as it extends the decline off this month's high.
Stochastics and the RSI are turning neutral to bearish signaling that additional weakness is
possible near-term. Closes below the reaction low crossing at 140.070 are needed to confirm that a
top has been posted. Closes above the reaction high crossing at 143.290 would temper the near-
term bearish outlook in the market. Closes above the reaction high crossing at 144.490 are needed
to renew this summer's rally and would open the door for a possible test of the 75% retracement
level of the 2008-2009-decline crossing at 148.680. First resistance is the 10-dsay moving average
crossing at 142.329. Second resistance is last Wednesday's high crossing at 143.290. First support
is the overnight low crossing at 140.510. Second support is the reaction low crossing at 140.070.

The September British Pound was sharply lower overnight as it extends last week's breakout below
the 20-day moving average. Stochastics and the RSI remain neutral to bearish signaling that
sideways to lower prices are possible near-term. If September extends this month's decline, July's
low crossing at 1.5981 is the next downside target. Closes above the 10-day moving average
crossing at 1.6617 would temper the near-term bearish outlook. First resistance is the 20-day
moving average crossing at 1.6570. Second resistance is the 10-day moving average crossing at
1.6618. First support is the overnight low crossing at 1.6273. Second support is June's low
crossing at 1.5981.

The September Swiss Franc was lower overnight as it consolidates some of last week's rally.
Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are
possible near-term. Closes above last Friday's high crossing at .9374 are needed to confirm that a
short-term low has been posted. If September renews last week's rally, the reaction high crossing at
.9417 is the next upside target. First resistance is last Friday's high crossing at .9374. Second
resistance is the reaction high crossing at .9471. First support is last Monday's low crossing at
.9190. Second support is the reaction low crossing at .9149.

The September Canadian Dollar was lower overnight as it extends the decline off this month's
high. Stochastics and the RSI are bearish signaling that additional weakness is possible near-term.
If September extends this month's decline, the 25% retracement level of the March-August rally
crossing at 89.82 is the next downside target. Closes above the 20-day moving average crossing at
91.99 is would temper the near-term bearish outlook in the market. First resistance is the 20-day
moving average crossing at 91.99. Second resistance is this month's high crossing at 94.08. First
support is the overnight low crossing at 89.94. Second support is the 25% retracement level of the
March-August rally crossing at 89.82.

The September Japanese Yen was higher overnight extending last week's rally above the 20-day
moving average crossing at .10505 confirming that a short-term low has been posted. Stochastics
and the RSI are bullish signaling that sideways to higher prices are possible near-term. If
September extends last week's rally, the reaction high crossing at .10641 is the next upside target.
Closes below the 10-day moving average crossing at .10452 would temper the near-term friendly
outlook in the market. First resistance is the overnight high crossing at .10600. Second resistance is
the reaction high crossing at .10641. First support is the 20-day moving average crossing at
.10505. Second support is the 10-day moving average crossing at .10452.

NEW! INO TV - http://tv.ino.com/ - Watch From Your Computer - Avoiding Common Trading Pitfalls by Mark Cook. In this fast-paced video, trading champion Mark Cook shares his ideas for making winning trades. As the first place finisher in the options division of the U.S. Investing Championship, Mark credits research, planning and an attention to detail for his astounding 536% return. http://tv.ino.com/

PRECIOUS METALS http://quotes.ino.com/exchanges/?c=metals

October gold was sharply lower overnight as it extends last week's breakout below the 20-day
moving average crossing at 951.00. Stochastics and the RSI are neutral to bearish signaling that
sideways to lower prices are possible near-term. If October extends the overnight decline, the
reaction low crossing at 926.50 is the next downside target. Closes above last Thursday's high
crossing at 962.00 would signal that a short-term low has been posted. Closes above the reaction
high crossing at 972.70 are needed to renew the rally off July's low. From a broad perspective,
October gold has been locked in a broad trading range since February. Closes above 1008.70 or
below 870.00 are needed to confirm a breakout of this year's trading range and point the direction
of the next trending move. First resistance is the 20-day moving average crossing at 951.00.
Second resistance is last Thursday's high crossing at 962.00. First support is the overnight low
crossing at 935.60. Second support is the reaction low crossing at 926.50.

September silver was sharply lower overnight and trading below the 10-day moving average
crossing at 14.598 signaling that a short-term top has likely been posted. Stochastics and the RSI
are diverging and are turning neutral to bearish signaling that sideways to lower prices are possible
near-term. Closes below the 20-day moving average crossing at 14.173 are needed to confirm that
a short-term top has been posted. If September extends the rally off July's low, the reaction high
crossing at 15.575 is the next upside target. First resistance is last Friday's high crossing at
15.185. Second resistance is the reaction high crossing at 15.575. First support is the 20-day
moving average crossing at 14.173. Second support is the reaction low crossing at 14.125.

September copper was lower due to profit taking overnight as it consolidates below the 62%
retracement level of last summer's decline crossing at 289.71. Stochastics and the RSI are
overbought, diverging and are turning neutral to bearish hinting that a short-term top might be in or
is near. Closes below the 20-day moving average crossing at 267.30 would confirm that a short-
term top has been posted. If September extends this summer's rally, the 75% retracement level of
last summer's decline crossing at 323.90 is the next upside target. First resistance is last Friday's
high crossing at 294.90. Second resistance is the 75% retracement level of the aforementioned
decline crossing at 323.90. First support is the reaction low crossing at 270.25. Second support is
the 20-day moving average crossing at 267.30.
FOOD & FIBER http://quotes.ino.com/exchanges/?c=food

September coffee closed sharply lower on Friday and below the 20-day moving average crossing at 12.88 confirming that a
short-term top has been posted. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the
RSI are turning bearish signaling that sideways to lower prices are possible near-term. If September extends today's decline, the
reaction low crossing at 12.03 is the next downside target. Closes above the 10-day moving average crossing at 13.39 would
confirm that a short-term low has been posted.

September cocoa closed lower on Friday as it extends the trading range of the past three weeks. The low-range close sets the
stage for a steady to lower opening on Monday. Stochastics and the RSI remain bearish signaling that sideways to lower prices
are possible near-term. Closes above the reaction high crossing at 29.64 or below 27.29 are needed to confirm a breakout of the
current trading range and point the direction of the next trending move.

October sugar closed lower due to profit taking on Friday as it consolidates some of this summer's rally. The mid-range close
set the stage for a steady opening on Friday. Stochastics and the RSI are overbought, diverging and are turning neutral to
bearish hinting that a short-term top might be near. Closes below the 20-day moving average crossing at 19.62 are needed to
confirm that a short-term top has been posted. If October extends this summer's rally, monthly resistance crossing at 26.85 is
the next upside target.

October cotton closed sharply lower on Friday and below the 20-day moving average crossing at 59.75 confirming that a double
top with July's high has been posted. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics
and the RSI are overbought and are turning bearish signaling that sideways to lower prices are possible near-term. If October
extends today's decline, the reaction low crossing at 58.40 is the next downside target.
Trade Stocks, Futures, And Forex With Up To 80% Accuracy

Complimentary Market Forecasts. Reports include:
-Trend Forecast up to 80% accurate for 1-3 days ahead
-Tomorrow's Forecasted Trading Range
-Leading Indicators, not lagging
http://www.ino.com/specials/13BCCC/mkttech/80Percent.html

GRAINS http://quotes.ino.com/exchanges/?c=grains

September corn was lower overnight and is breaking out below last week's trading range crossing
at 3.17 1/4. Widespread rain across portions of the Midwest overnight along with spillover
weakness from outside markets was the primary factor behind the overnight sell off. The low-range
close overnight sets the stage for a steady to lower opening when the day session begins.
Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near-term.
If September extends the overnight decline, July's low crossing at 3.04 is the next downside target.
Closes above last Thursday's high crossing at 3.38 1/2 would confirm that a short-term low has
been posted. First resistance is the 20-day moving average crossing at 3.27 1/2. Second resistance
is last Thursday's high crossing at 3.38 1/2. First support is the overnight low crossing at 3.12 1/4.
Second support is July's low crossing at 3.04.

September wheat was lower overnight and poised to test long-term support crossing at 4.71. The
low-range close sets the stage for a steady to lower opening when the day session begins trading
later this morning. Stochastics and the RSI are oversold and remain neutral to bearish signaling
that additional weakness is possible near-term. If September extends this summer's decline, long-
term support crossing at 4.12 is the next downside target. Closes above the 20-day moving average
crossing at 5.10 1/2 would temper the near-term bearish outlook in the market. First resistance is
the 10-day moving average crossing at 4.96 1/2. Second resistance is broken support marked by
July's low crossing at 5.05 1/4. First support is the overnight low crossing at 4.71 3/4. Second
support is long-term support crossing at 4.71.

September Kansas City Wheat closed unchanged at 5.08 1/2.

September Kansas City Wheat closed unchanged on Friday as it consolidates some of this week's
decline. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics
and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are
possible near-term. If September extends this summer's decline, monthly support crossing at 4.33
is the next downside target. Closes above last Thursday's gap crossing at 5.52 3/4 are needed to
confirm that a short-term low has been posted. First resistance is the 10-day moving average
crossing at 5.34 3/4. Second resistance is the 20-day moving average crossing at 5.45 1/2. First
support is today's low crossing at 5.01 1/2. Second support is monthly support crossing at 4.33.

September Minneapolis wheat was lower overnight as it extends this summer's decline. The low-
range overnight close sets the stage for a steady to lower opening when the day session begins later
this morning. Stochastics and the RSI are oversold but remain neutral to bearish signaling that
sideways to lower prices are possible near-term. If September extends this summer's decline,
weekly support crossing at 4.95 1/4 is the next downside target. Closes above the 20-day moving
average crossing at 5.87 would temper the near-term bearish outlook in the market. First resistance
is the 10-day moving average crossing at 5.72 3/4. Second resistance is the 20-day moving average
crossing at 5.87. First support is last Friday's low crossing at 5.40 3/4. Second support is weekly
support crossing at 4.95 1/4.

SOYBEAN COMPLEX

September soybeans were sharply lower overnight and trading below the 20-day moving average
crossing at 10.28 3/4 confirming that a double top with June's high has been posted. The low-
range overnight close sets the stage for a steady to lower opening when the day session begins later
this morning. Rain moving across portions of the Midwest along with bearish outside market
influences triggered the overnight decline. Stochastics and the RSI are bearish signaling that
sideways to lower prices are possible near-term. If September extends the overnight decline, the
reaction low crossing at 9.40 is the next downside target. First resistance is the overnight high
crossing at 10.25 1/2. Second resistance is the 10-day moving average crossing at 10.68. First
support is the overnight low crossing at 9.89 1/2. Second support is the reaction low crossing at
9.40.

September soybean meal was lower overnight as it extends last Friday's breakout below the 20-day
moving average crossing at 322.10, which confirmed that a short-term top has been posted. The
low-range close overnight set the stage for a steady to lower opening when the day session begins
trading later this morning. Stochastics and the RSI are bearish signaling that sideways to lower
prices are possible near-term. If September extends the overnight decline, the reaction low crossing
at 296.20 is the next downside target. Closes above the 10-day moving average crossing at 335.00
would confirm that a short-term low has been posted. First resistance is the 20-day moving average
crossing at 322.10. Second resistance is the 10-day moving average crossing at 335.00. First
support is the overnight low crossing at 312.00. Second support is the reaction low crossing at
296.20.

September soybean oil was sharply lower overnight due to spillover weakness from soybeans,
soybean meal and lower energy prices. The low-range close sets the stage for a steady to lower
opening when the day session begins later this morning. Stochastics and the RSI are overbought,
diverging and have turned bearish signaling that sideways to lower prices are possible near-term.
Closes below the 20-day moving average crossing at 36.08 would confirm that a short-term top has
been posted. If September renews the rally off July's low, the 87% retracement level of this
summer's decline crossing at 38.78 is the next upside target. First resistance is the 10-day moving
average crossing at 37.36. Second resistance is last Thursday's high crossing at 38.99. First
support is the overnight low crossing at 36.15. Second support is the 20-day moving average
crossing at 36.08.
LIVESTOCK http://quotes.ino.com/exchanges/?c=livestock

October hogs closed down $0.75 at $44.65.

October hogs closed lower on Friday and closed below weekly support crossing at 44.87. The low-range close sets the stage for
a steady to lower opening on Monday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that
sideways to lower prices are possible near-term. If October extends this summer's decline, weekly support crossing at 42.07 is
the next downside target. Closes above last Friday's gap crossing at 47.30 would confirm that a short-term low has been posted.
First resistance is the 10-day moving average crossing at 46.82. Second resistance is last Friday's gap crossing at 47.30. First
support is Wednesday's low crossing at 43.80. Second support is weekly support crossing at 42.07.

February bellies closed down $0.72 at $78.42.

February bellies closed lower on Friday as it extended this month's decline. The low-range close sets the stage for a steady to
lower opening on Monday. Stochastics and the RSI are oversold but remain bearish signaling that sideways to lower prices are
possible near-term. If February extends this week's decline, the contract low crossing at 76.00 is the next downside target.
Closes above the 20-day moving average crossing at 81.68 are needed to confirm that a low has been posted. First resistance is
the 10-day moving average crossing at 79.78. Second resistance is the 20-day moving average crossing at 81.68. First support
is today's low crossing at 78.42. Second support is the contract low crossing at 76.00.

October cattle closed up $0.35 at 88.55.

October cattle closed higher on Friday and the high-range close sets the stage for a steady to higher opening on Monday.
Stochastics and the RSI are oversold and are turning bullish hinting that a short-term low might be in or is near. Closes above
the 20-day moving average crossing at 89.60 would temper the near-term bearish outlook. If October extends the decline off
July's high, June's low crossing at 85.60 is the next downside target. First resistance is the 10-day moving average crossing at
88.92. Second resistance is the 20-day moving average crossing at 89.60. First support is Tuesday's low crossing at 87.65.
Second support is June's low crossing at 85.60.

October feeder cattle closed up $0.20 at $100.20.

October Feeder cattle posted a key reversal up on Friday due to short covering as it consolidates some of this summer's decline.
The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are diverging but remain
neutral to bearish signaling that additional weakness is possible near-term. If October extends the decline off July's high, the
62% retracement level of the June-July rally crossing at 99.45 is the next downside target. Closes above the 20-day moving
average crossing at 101.85 are needed to confirm that a short-term low has been posted.
_____________________________________________________________________

T H A N K Y O U