I have subscribed to Sue's email service for a few years. Her insight into what moves the markets is extremely helpful to my farm operation. She has such a global view of information and then puts it together so I can base my marketing decisions off that. It amazes me how many times Sue will make a prediction on a reversal or a market high or low and nails it to the day! That consistency really builds my trust and respect in her.
Thank You Sue.
Note, May feeders are limit down as is April and June fats. Recall, the cycle LOW due tomorrow, or, Thursday, or Friday. Add to this, May feeders are on a trendline from the low of December 17th. Now, should the market break this support, the timing is still in effect and there is a channel line support from the high that comes in at 147.45. The Bollinger Band also comes in at that level, and, a trendline across all the highs from last June 22nd, 2015 high extended (which was crossed over on February 25th) comes in at that same level. So, the market may be coming back to look at the trendline and looking at the low of February with a higher degree. DO NOT BECOME EMOTIONAL HERE NOR BEARISH. We will want to use this for a try at the long side or cover shorts to see if the market can respond of which I think it will. That said, the weekly chart is disappointing but the daily will take on precedence. The chart will be posted in tonight's comments.
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