Dead Cat Bounce or A Market Bottom?

Research Posts Livestock Round Up

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Live Cattle

Technicals (February – G)

February live cattle traded on both sides of unchanged yesterday, settling near where we started the day.  The choppy trade did little to alleviate the RSI which is still in “oversold” territory.  There appears to be pretty solid support down near 172 which acted as a bit of an inflection point for the market in the Spring months.  On the top side, resistance coms in near 180.  From a trader’s perspective, we would be looking to buy the lower end of that range and selling the higher end of that range.  A break below or above those levels would neutralize that bias. 

Resistance: 182.00-182.50**, 184.625 -185.00**, 186.275**

Pivot: 180.325-181.00 

Support: 175.85-176.55***

Seasonal Tendencies

Below is a look at historical seasonality’s (updated each Monday) VS today’s prices (black line). 

*Past performance is not necessarily indicative of futures results. 

Feeder Cattle

Technicals (January – F)

January feeder cattle futures have been able to stage a rebound over the last two days, but it has only been good enough to retrace just about half of last Thursday’s selloff.  The low end of the trading range comes in near 224 and resistance comes in in near 233-234.  With the market near the middle of that range we don’t see a lot to do right here right now for new positioning. 

Resistance: 242.32-243.05***, 244.65**, 246.42

Pivot:  233.37-234.95

Support: 229.00-229.50**, 227.425**

Seasonal Tendencies 

Below is a look at historical seasonality’s (updated each Monday) VS today’s prices (black line).

*Past performance is not necessarily indicative of futures results.

Lean Hogs

Technicals (December – Z)

December lean hogs have been able to defend the pivot pocket well recently which has helped prices stay elevated near first resistance, 74.00-74.50.  If the Bulls can chew through this pocket it could open the door for an extension to the 200-day moving average which comes in at 76.06 this morning. 

Resistance:  74.00-74.500***

Pivot: 70.00-70.25 

Support: 67.32-67.80***, 65.40-65.67**

Seasonal Tendencies 

Below is a look at historical seasonality’s (updated each Monday) VS today’s prices (black line).

*Past performance is not necessarily indicative of futures results.

Oliver Sloup, VP & Co-Founder, Blue Line Futures

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Futures trading involves substantial risk of loss and may not be suitable for all investors. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

Blue Line Futures is a member of NFA and is subject to NFA’s regulatory oversight and examinations. However, you should be aware that the NFA does not have regulatory oversight authority over underlying or spot virtual currency products or transactions or virtual currency exchanges, custodians or markets. Therefore, carefully consider whether such trading is suitable for you considering your financial condition.

With Cyber-attacks on the rise, attacking firms in the healthcare, financial, energy and other state and global sectors, Blue Line Futures wants you to be safe! Blue Line Futures will never contact you via a third party application. Blue Line Futures employees use only firm authorized email addresses and phone numbers. If you are contacted by any person and want to confirm identity please reach out to us at info@bluelinefutures.com or call us at 312- 278-0500

Performance Disclaimer

Hypothetical performance results have many inherent limitations, some of 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 that 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 actual trading. For example, the ability to withstand losses or to 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 implementation 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 actual trading results.

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