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Stepping Stones: December Live Cattle


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December Live Cattle

One definition of "stepping stones" is an undertaking or event that helps one to make progress toward a specified goal. This I believe describes the current price path of the December Live Cattle Market. The extended upside projection zone comes in between 126-127. Today's extreme at 123.825 has produced no sign of momentum divergence that one usually observes at a moves terminating level. This property should be viable in multiple time frames. I am making room for one more subset correction which needs to hold above the 119.175 high. A pullback should be non-impulsive in nature and will most likely fall around the .382 retracement level from the 114.525 low. Currently that comes in at +/- 120.30. This level also coincides with pitchfork support. This inflection point should produce another leg up which will most likely target the upper projection target at 126-127.

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.

My direct line # 312-878-2391

Please join me next Wednesday as I apply Wave Theory and Geometric targets levels to this and other commodity markets.

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John Lunney

Senior Technical Analyst

Walsh Trading

312 878 2391

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

Walsh Trading, Inc. is registered as an Independent Introducing Broker with the Commodity Futures Trading Commission and an NFA Member.
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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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