Market Alert! – New TR pattern setting up for major swing trade opportunity. – By John Crane

Market Alert! – New TR pattern setting up for major swing trade opportunity. – By John Crane

TMV Swing Trade report – December Live Cattle seemed to have peaked on the October 18, 2011 reversal date. The market failed to reach the ascending median line, suggesting a loss of momentum. After trading lower during the following two session, Cattle found support at the 20-day EMA and upward sloping parallel line. A two-day rebound, following the COT report released Friday afternoon, stalled after testing the 60% sell window and the Cattle turned lower once again. In other words, December Cattle have formed a bearish TR pattern that portends a significant price decline if confirmed by a trade below 121.25. I will keep you updated in the next issue of the TMV Swing Trade report. By John Crane

December Live Cattle - click to enlarge