NORTH AMERICAN AG WEEKLY LEAN HOGS UPDATE 10/12/20
The following trades are hypothetical. Past results are not a
guaranty of future results
The weekly trend is UP with the computer going long October lean hogs on the
weekly chart at $54.975 the week of 8/21/20 with current generated stop at
Friday, October 9, 2020 October lean hogs on the weekly chart settled the week
up 3.675 at $78.15.
The weekly trend is UP with the computer going long December lean hogs on the
weekly chart at $60.00 the week of 5/1/20 with current generated stop at
Friday, October 9, 2020 December lean hogs on the weekly chart settled the week
up 4.625 at $67.10.
GANN WHEEL SUPPORT AND RESISTANCE:
Using the $67.45 high made 10/8/20 December hogs have wheel support at:
90 cou = $64.80; 120 cou = $64.00; 144 cou = $63.40.
Resistance for December lean hogs using the $49.40 low made 7/31/20.
720 cl = $68.75; 720 + 180 cl = $74.05.
So far December hogs have reached $67.45 on 10/8/20.
$50.20 and $65.65 and $80.20 are pivot numbers on all hog charts.
GANN WHEEL CYCLE ANALYSIS:
On the February lean hog daily chart meauring from the 4/18/19 high $90.55 the
the 180 harmonic cycle was due 10/15/19 and marked a cycle high at $79.525.
On the June lean hog chart measuring from the 10/18/19 high $94.15 a 180
harmonic cyle was due 4/15/20 (marked low $41.50 on 4/14/20).
On the August lean hog chart measured from the 4/6/20 low $51.90 the 90 degree
harmonic cycle was due 7/5/20 (marked low at $47.90 on 7/8/20).
On the December lean hog chart using the 4/4/20 low $47.42 the 180 harmonic cycle
was due 10/3/20 (marked Monday 10/5/20 $61.90).
WEEKLY CYCLE ANALYSIS:
On the December lean hog weekly chart a double clue cycle was due the week of 9/4/20
and marked a temporary high at $67.10.
On the December lean hog planetary resistance is at Pluto crossing the chart
at $79.50 and Jupiter $81.60.
WEEKLY REVERSAL PATTERNS:
There was a buy signal on the weekly December lean hog chart for the week ending
9/4/20 if December lean hogs broke and closed over the previous week's inner
week high $56.95 and this buy signal was triggered with December lean hogs settling
Friday 9/4/20 at $58.325.
There is neither a buy signal or a sell signal on the weekly December lean hog weekly
chart for the week ending 10/16/20.
Continue to use our computer generated trades and our seminar
information for your hedging. Best of both worlds.
Written by David Gleason CTA and Nathan Gleason AP.
North American Ag
752 E. Greenbrier Place
Sioux Falls, SD 57108
** Hypothetical performance results have many inherent limitations some
which are described below:
No Representation is being made that any account will or is likely to
achieve profits or losses similar to those shown. In fact there are
frequently sharp differences between hypothetical performance results
and the actual results subsequently achieved by any particular
trading program. One of the limitations of hypothetical performance
results is they are generally prepared with the benefit of hindsight.
In addition hypothetical trading does not involve financial risk, and
no hypothetical trading record can completely account for the impact
of financial risk in trading. For example the ability to withstand
losses or adhere to a particular trading program in spite of trading
losses are material points which can also adversely affect actual
trading results. There are numerous other factors related to the
markets in general or to the implementations of any specific trading
program which cannot be fully accounted for in the preparation of
hypothetical performance results and all of which can adversely
affect trading results.
** The North American Ag Report includes information to from sources
and technical analysis believed to be reliable and accurate as of the
date of this letter, but no independent verification has been made
and the letter is not guaranteed to its accuracy or completeness.
Opinions are subject to change without notice. This report should not
be constructed as a request to engage in any transaction involving
the purchase or sale of a future contract and/or commodity options.
The risk of lost in trading futures contracts or commodity options
can be substantial, and investors should carefully consider the
inherent risks of such an investment in light of their financial
conditions. Only those in the proper financial condition and who are
willing to assume responsibility for the risks involved should
attempt futures trading. Any reproduction or re transmission of this
report without the express written consent of CTA Dave Gleason is
strictly prohibited. Next Page