8/22/24

Lean Hogs
October
From last week,

This week's low hit the 72.07 major Gann square and yesterday it closed above the 74.70 swing point for the week and the 75.35 major Gann square. All of the key levels above and below remain the same from last week.

Use the 75.35 major Gann square as the swing point for the week.
 

Above it, look for it to complete the 61.8% (7/10/24) to 61.8% target at 80.90 based on the ONE44 61.8% rule. On an ....

There was one minor close below 75.35 and today's big rally has it well on its way to complete the 61.8% (67.90) to 61.8% target at 80.90 and it closed above the 78.60 major Gann square.

Use 78.60 as the swing point for the week.

Above it, continue to look for 61.8% at 80.90, when and if it hits this level it will become the swing point for the week. A setback from it can send it 61.8% the other way again, yet to be determined. A failure to turn lower from 80.90 can send it to 78.6% at 84.90.

Below it, look for the previous major Gann square at 75.35, this is also 38.2% of the current rally. On an extended move lower, look for the area of 61.8% at 72.50 and the 72.07 major Gann square.

8/25/24

Friday's high hit the 61.8% target at 80.90 based on the ONE44 61.8% rule.

The downside target is now 61.8% the other way at 73.00 based on the same rule.

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We have done 40 videos on how to use the Fibonacci retracements with the ONE44 rules and guidelines.

These are the two most important.

Overview

As we have mentioned before in Grains, they are all below their long term retracements on the continuation charts and what becomes the most important thing to watch when looking for a turn higher are the major Gann squares below. We will also watch the tightest retracements above to watch for the first sign of that turn.

November Soybeans could not get above the swing point for the week at 984.00, this was also a major Gann square. Short term we are looking for the next major Gann square below.

Another small range for the December Corn and all of it under the 405.75 major Gann square and swing point for the week.

December Wheat hit the short term target at the 530.25 major Gann square today.

Live and feeder Cattle remain under pressure and we think there can be more on the downside.

Live Hogs and a big rally today from their 75.35 swing point for the week and it looks like they may hit the 61.8% target above after holding 61.8% below on 7/9/24, ONE44 61.8% rule.

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Our goal is to not only give you actionable information, but to help you understand why we think this is happening based on pure price analysis with Fibonacci retracements, that we believe are the underlying structure of all markets and Gann squares.

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