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I don't trade cattle, which makes it all the more interesting to analyze.
The weekly appears to undergone a decline failure on 12/18/98, and a Spring
on 1/8/99. I would count 2 completed thrusts on the daily with equal length
of 1 and 2 and I would consider the extreme length of the final decline on
the daily in evaluating any weakness in the daily. I would look for a
nominal retracement to 62 area followed by one more thrust with close above
11/25/98 high to confirm the trend reversal before a correction of the
entire move.
Earl
-----Original Message-----
From: Alan Sears <asears@xxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Wednesday, January 20, 1999 6:05 PM
Subject: Apr Cattle
>Looking to enter a short trade here is prices break todays low
>
>Any other analysis / opinions on this market ?
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