Feeder Follow-Up
On Monday we looked at a setup in Feeder Cattle futures. This idea has been developing nicely. Let’s see how it looks now.
On Monday we looked at a setup in Feeder Cattle futures. This idea has been developing nicely. Let’s see how it looks now.
Now that CPI data is behind us can we start looking for the next leg higher? This is the current pattern I’m following and some of its implications into the monthly expiration.
Whether it’s a reversion to the mean or historical volatility, let’s look at how to focus on where to enter gold to the long side.
In this video, we look at today’s continued push higher, almost back to 4000 on the ES. We have moved over 170 points since Monday as we get ready for the CPI report tomorrow. Obviously, the market is anticipating a better than expected CPI number and this could really get us moving higher if it happens. If we get a surprise higher number, we better watch out on the downside. We look at charts and go over levels and what to expect.
There was a reason we have been targeting the ES & SPX levels. The idea was a return to balance. The day has come and the initial target achieved. I’ll lay out a plan going forward given the fact that there is still data ahead both tomorrow and Friday.