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Lean Hog Futures Are Heating Back Up. Can They Rally Here?
October lean hog futures (HEV25) present a buying opportunity on more price strength. See on the daily bar chart for October lean hog futures that bulls are working to restart a price uptrend after posting price gains the past two trading sessions. See, too, at the bottom of the chart that the moving average convergence divergence (MACD) indicator is in a bullish posture, as the red MACD line has just crossed above the blue trigger line. More News from Barchart Coffee Prices Rally on Below-Average Rainfall in Brazil Below-Average Rain in Brazil Supports Coffee Prices Is the Corn Market Undervalued? Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else. Fundamentally, the record-setting bull runs in cattle markets (LEV25) (GFQ25) that have pushed beef prices significantly higher are bullish for the hog futures market, too. Elevated beef prices at the meat counter likely mean better substitution demand for pork from thrifty consumers. A move in October lean hog futures prices above chart resistance $91.975 would give the bulls more power and it would also become a buying opportunity. The upside price objective would be $103.00 or above. Technical support, for which to place a protective sell stop just below, is located $86.00. IMPORTANT NOTE: I am not a futures broker and do not manage any trading accounts other than my own personal account. It is my goal to point out to you potential trading opportunities. However, it is up to you to: (1) decide when and if you want to initiate any trades and (2) determine the size of any trades you may initiate. Any trades I discuss are hypothetical in nature. Here is what the Commodity Futures Trading Commission (CFTC) has said about futures trading (and I agree 100%): Trading commodity futures and options is not for everyone. IT IS A VOLATILE, COMPLEX AND RISKY BUSINESS. Before you invest any money in futures or options contracts, you should consider your financial experience, goals and financial resources, and know how much you can afford to lose above and beyond your initial payment to a broker. You should understand commodity futures and options contracts and your obligations in entering into those contracts. You should understand your exposure to risk and other aspects of trading by thoroughly reviewing the risk disclosure documents your broker is required to give you. On the date of publication, Jim Wyckoff did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Sign in to access your portfolio
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Nebraska Republican congressman booed over Trump's 'big, beautiful bill'
WASHINGTON (Reuters) -Republican U.S. Representative Mike Flood endured a contentious town hall meeting in Nebraska on Monday, as opponents of President Donald Trump's sweeping tax- and spending-cut bill booed and heckled him for over an hour. Flood fielded questions about Republican funding cuts to the Medicaid healthcare program for lower-income Americans, food assistance and funding for Trump's controversial crackdown on undocumented immigrants from his Lincoln audience. He argued that it was important to deny public health coverage to immigrants living in the U.S. illegally and to able-bodied adults who refuse work and then drew cheers backing the release of government files on disgraced financier and sex offender Jeffrey Epstein. With Congress on its summer break, Republicans including Flood are trying to promote Trump's landmark legislation, nicknamed the "big, beautiful bill," which extended the president's 2017 tax cuts and ramped up spending for border security and the military. It will also add $3.4 trillion to the $36.2 trillion federal debt and leave about 10 million people without health coverage. "There's a lot of information out there that's wrong. We protected Medicaid. We cut $2 trillion out of the future debt. We worked to get results. And this bill builds for growth," he said to a chorus of boos. At times, angry audience members chanted: "Vote him out!" "How much does it cost for fascism? How much do the taxpayers have to pay for a fascist country?" asked one woman, who was irate about Trump's immigration crackdown and the use of disaster relief money to pay for an immigration detention center in South Florida nicknamed "Alligator Alcatraz." Flood's district is heavily Republican and not among the roughly three-dozen House seats expected to be competitive in next year's midterm elections, when Republicans will be defending their narrow House of Representatives majority, currently 219-212 with four vacancies. At his town hall, Flood, 57, responded to critics by saying that voters backed Trump's policies in the 2024 election: "Americans voted for a border that is secure. And I support the president enforcing our immigration laws." He later told another questioner who criticized him for not speaking out against Trump: "When I see something that I don't agree with, I don't run to the TV station as my first stop. I try to stop it before it gets worse." After the meeting, Flood told reporters: "I like to think that I was able to answer their questions. They may not agree with my answer. But the questions are always good and that makes me a better member of Congress."
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This AI Stock Has Nearly Tripled in the Last Year
Symbotic (SYM) set a new 52-week high in morning trading on Aug. 5. The stock is showing strong technical momentum with a 100% 'Buy' signal via Barchart. Shares are up more than 170% over the past 52 weeks. Wall Street sentiment is bullish, with multiple 'Strong Buy' ratings and a consensus price target well above current levels. Today's Featured Stock Valued at $33.35 billion, Symbotic (SYM) is an automation technology company reimagining the supply chain with its end-to-end, artificial intelligence-powered robotic and software platform. What I'm Watching I found today's Chart of the Day by using Barchart's powerful screening functions to sort for stocks with the highest technical buy signals; superior current momentum in both strength and direction; and a Trend Seeker 'buy' signal. I then used Barchart's Flipcharts feature to review the charts for consistent price appreciation. More News from Barchart Dear Nvidia Stock Fans, Mark Your Calendars for August 27 Options Traders Expected Palantir Stock's Tamest Earnings Reaction in a Year. Did They Get It Right? Tesla Gains on Elon Musk's New Pay Package. Is TSLA Stock a Buy? Stop Missing Market Moves: Get the FREE Barchart Brief – your midday dose of stock movers, trending sectors, and actionable trade ideas, delivered right to your inbox. Sign Up Now! SYM checks those boxes. Since the Trend Seeker signaled a buy on May 8, the stock has gained 136.3%. SYM Price vs. Daily Moving Averages: Barchart Technical Indicators for Symbotic Editor's Note: The technical indicators below are updated live during the session every 20 minutes and can therefore change each day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the website when you read this report. These technical indicators form the Barchart Opinion on a particular stock. Symbotic shares hit a new 52-week high on Aug. 5, touching $62.61 in intraday trading. Symbotic has a Weighted Alpha of +213.61. Symbotic has a 100% 'Buy' opinion from Barchart. The stock has gained 172.36% over the past year. SYM has its Trend Seeker 'Buy' signal intact. Symbotic is trading above its 20-, 50-, and 100-day moving averages. The stock made 10 new highs and gained 30.53% in the last month. Relative Strength Index (RSI) is at 72.76%. There's a technical support level around $53.16. Don't Forget the Fundamentals $33.35 billion market capitalization. Revenue is projected to grow 20.96% this year and another 31.43% next year. Earnings are estimated to increase 132.24% next year. Analyst and Investor Sentiment on Symbotic I don't buy stocks because everyone else is buying, but I do realize that if major firms and investors are dumping a stock, it's hard to make money swimming against the tide. It looks like Wall Street analysts are bullish on SYM, and so are most major advisory sites. The Wall Street analysts tracked by Barchart have issued 7 'Strong Buy,' 1 'Moderate Buy,' 9 'Hold,' and 1 'Sell' opinion on the stock. Value Line gives the company its above-average rating with a price target of $74. CFRA's Market Scope rates the stock a 'Strong Buy.' Morningstar thinks the stock is fairly valued. 12,520 investors monitor the stock on Seeking Alpha, which rates the stock a 'Hold.' The Bottom Line on Symbotic Stock Symbotic currently has momentum and is hitting new highs. It has positive sentiment from Wall Street, plus analysts project double-digit increases in revenue and earnings. That said, I caution that SYM is volatile and even speculative in the current environment, which means investors should use strict risk management and stop-loss strategies. Today's Chart of the Day was written by Jim Van Meerten. Read previous editions of the daily newsletter here. Additional disclosure: The Barchart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance. On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
