Trump Trumps China
Presented by Heartland Investor Capital Management Inc. CTA
Market Reaction to Trump's Tweet:
Trump's tweet imposed a 125% tariff on China and lowered tariffs on 75 other countries
Markets reversed sharply, with NASDAQ posting a 9% gain
Corn and other commodities rallied after floundering earlier in the week
Corn Market and USDA Expectations:
Corn closed higher, reversing recent weakness
Traders expect a 35 million bushel drop in carryout on improving exports
USDA likely behind on export tracking; Spain recently bought 240,000 metric tons
Wave Analysis and Trend Outlook:
Technical structure suggests a strong wave 3 rally underway
Three days above key trendline signals a confirmed trend change
Market could push toward $5 if Thursday's WASDE report is bullish
Soybean Market Outlook:
Soybeans posted a multi-day rally, reversing a five-wave decline
Potential ABC recovery underway, aiming for the $10.30–$10.35 zone
Closing above recent highs would negate bearish structure and confirm new trend
Wheat Market Overview:
Kansas City wheat stalled at 20-day moving average, dry weather persists into late April
Chicago wheat failed to reach 29-day moving average; break above $5.50 would turn momentum bullish
Next spike potential seen into early May based on 60-day cycle
Crude Oil Update:
Wave 3 down appears complete; now in a wave 4 bounce
Resistance near $65 could cap the rally; support seen near $54
Fuel prices improving as market trends lower overall
Live Cattle Market:
Outside day up confirms wave 2 correction may be over
Key support at 193 held; market reversed strongly to close near highs
Sets up potential for wave 3 rally in longer-term contracts
Feeder Cattle Market:
Also posted outside day up, bouncing from highlighted support zone
Wave 4 appears complete; wave 5 rally now beginning
Rally could stretch into fall contracts, supporting higher calf prices
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.