There is a nice inverted Head and Shoulders pattern that is setup in the Live Cattle market right now. A breakout from this congestion pattern here should provide for a nice run in this market. Notice also the divergence in the custom indicator at the bottom when the low was made. Holiday trading is quiet so who knows if there will be enough action here to trigger this, but it is a market I have been watching due to that divergence at the lows.
The Momentum oscillators are also both indicating an uptrend so that also supports this trade entry. This is a market that seems to be able to walk independently of the stock and dollar markets, so what is going on there right now should not have any effect on this market.
That is all for tonight, a very short and to the point post.