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Branded " B " : December Live Cattle


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December Live Cattle

The bearish tones of the last Friday's post close report sent a ripple through the live cattle market in early trading. After posting a low of 115.00 the market snapped back in a 5 wave sequence to 117.37.5 before easing off to settle at 116.750.. It appears to me that this move has completed the a-b-c patterned B wave of a larger A-B-C corrective decline. Holding below +/-117 will lean on the contract. Mild near term support comes in at 116.00-116.350. A crack here should follow thru to roughly 115.800 at the hourly pitchfork level. Addressing the structure of such a move should produce clues. An impulsive count will suggest an ultimate violation of the 114.525 low of last week with projection levels coming in between 113.200-112.500. A rise and hold above 117.100 would point to further upside action. Overhead cross zone resistance comes in at +/-118.200.

My analytical breakdown focuses on a blend of wave pattern recognition, long and short term geometrical extensions and momentum signal interpretation. Please feel free to contact me at Walsh Trading to discuss my technical approach. Employing my expert skill set Id be pleased to offer a free customized outlook for a product in your specific field.

Please join me next Wednesday as I use the wave principle to analyze the cattle and other commodity markets.

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John Lunney

Senior Technical Analyst

Walsh Trading

312 957 8108

888 391 7894 toll free

312 256 0109 fax

jlunney@walshtrading.com

www.walshtrading.com

Walsh Trading

53 W Jackson Suite 750

Chicago, Il 60604

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About the author


John Lunney began his trading career in 1989 as a clerk for IFO, the largest futures and futures options brokerage on the CME floor. Within one year, John was promoted to an executing floor broker responsible for handling large individual and institutional accounts. John’s knowledge of option theory and tactics quickly attracted a growing customer base. In 2000, John began exclusively trading futures and futures options for his own account. John later became a founding member of VI Capital, a proprietary trading company funded with personal and investor funds. At VI Capital, John was the director of risk management, technical analysis and strategy development. VI Capital realized multi digit returns over the course of 8 years of trading.

John has extensive trading experience in stock indexes, metals, commodities, energy and agriculture products. He believes that hard work reveals the best trading opportunities, and strong discipline creates consistent results. John possesses a unique ability to connect with customers, understand their goals, and work with them to create long and profitable relationships.

Contact John
Phone: 312-957-8108 or 888-391-7894
Email: jlunney@walshtrading.com

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