US Dollar Dominates
Presented by Heartland Investor Capital Management Inc. CTA
US Dollar Impact
Surge in Value: Reached 106.99, near last year’s high, impacting commodity prices negatively.
Historical Trend: October often marks market inflection points; potential for current dollar peak.
Commodity Impact: Strong dollar challenges gold, soybeans, and other commodities, stalling rallies.
Soybeans
Bearish Momentum: Falling below trendlines, signaling potential continuation in downward trend.
Market Patterns: Traders note ABC corrective patterns, targeting a possible bounce but acknowledging challenges.
Speculative Activity: Recent trade setups aim to capture limited rebounds; market remains heavily bearish.
Corn
Wave Patterns: Current pullback aligns with typical wave structures, hinting at future upward potential.
Support Levels: Watching the 50-day moving average as a key support, potentially bottoming around 212-215.
Long-Term Outlook: Expectations of upward momentum into early 2024 if support holds.
Wheat
Continued Decline: Persistent fall through key support levels; could revisit August lows.
Seasonal Cycle: Previous rally ended, with the potential for a small rebound after current declines.
Future Projections: Dollar weakening needed for a substantial recovery.
Cattle and Feeder Cattle
Negative Indicators: Outside day patterns suggest bearish sentiment, possibly extending into December.
Support Tests: Key support levels around 177.5 for cattle; breakdown could lead to further drops.
Seasonal Trends: Cattle often weaken through late fall, aligning with historic patterns.
Hogs
Uptrend Break: Recently fell below a key moving average after a strong summer, hinting at potential reversal.
Market Cycle: Anticipated B and C waves suggest more downside if trends persist.
Resistance Levels: Watching moving averages for signs of recovery or additional decline.
Provided by:
Eugene Graner,
Heartland Investor Capitol Management, Inc., CTA
(A separate entity from Heartland Investor Services)
Past performance is not indicative of future results. The information contained in this report is intended for informational purposes only and is the opinion of the writer and may change at any time. This information was compiled from sources believed to be reliable to Heartland Investor Capital Management, Inc. but accuracy cannot be and is not guaranteed. There is no warranty, expressed or implied, in regards to this information for any particular purpose. There is SIGNIFICANT RISK of LOSS involved in trading futures and / or options on futures and may not be suitable for all investors. Investors should consider these RISKS and evaluate their suitability based on their financial conditions. No one should ever consider trading futures or options on futures with anything other than RISK CAPITAL. NO LIABILITY on the part of the author exists for any trading loss you may incur in the use of this information. The information contained in this newsletter is privileged, confidential and protected from disclosure. Any further disclosure or use, distribution, dissemination or copying of this message or any attachment is strictly prohibited. Provided by Heartland Investor Capital Management, Inc. a registered CTA with the NFA, of which Eugene Graner is principal. This entity is a separate legal entity from the Introducing Broker Heartland Investor Services.