I am watching 15 markets now and all of them can start substantial moves soon. But let’s start today with SP500. You know I am bullish in this market, however, its time to add tight trailing stops. I think at the end of April or the beginning of May, we will see a pullback. So, there is still room for upside a bit. We will get the next good entry for longs at the end of May. Well, that is based on cycles and overall my bias is to the upside. But you know timing is very important.
We had 2 amazing trades in live cattle on managed accounts – upside and downside. I believe there is a big chance to see rally soon again. Commercials are buying, the market is undervalued and seasonal is up. What else needed? – Oh, an entry… I think retest and rejection from 80 – 75 will be a good signal.
Soybean oil is also setting up for a rally. We have the same base for an upcoming move as in the live cattle market. So, whatever entry technic you use, look for buy signals.
I think copper is with attention now. The price has broken higher, but accumulation didn’t. That’s very bearish. Besides, look at commercials – they are selling. We have a clear trendline on the daily chart. Once we break it, there is a big possibility of wave down.
Wishing you a great week!
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