The Live Hogs (CME) has been in an uptrend for the past 3 days closing above the previous session's
high. Currently, the market is trading in a neutral position on our indicators but it is trading
strongly higher up some 4.07% from the previous session low. Our projected target for closing
resistance for the next session stands at 7283, we need to close above that target to imply a
further advance. Failure to even exceed this intraday warns that the upward momentum is starting
to decline. Moreover, a lower opening and a penetration of today's low of 6895 with a closing
beneath this level would suggest today's high will stand temporarily.

Nevertheless, this session closed below our ideal projection for closing resistance warning that the
market which stood at 7346 is forming a high. A break of this session's low of 6895 will warn that
we have a potential temporary high in place. Our Stochastics are all pointing upward while our
internal momentum models have also remained in a bullish posture.

We see overhead projected resistance forming at 7490. Bear in mind that we have made a new
high this week changing the Weekly Bearish Reversals once this week is concluded. Still, this is
only a minor Bearish Reversal since we made a lower high.

As of now, the market remains bullish on the momentum indicator yet neutral on the short-term
trend indicator while the long-term trend and cyclical strength are neutral. At this instant, the
market remains within our trading envelope in a bullish position.

This market is also trading mostly above the bank of eight moving average indicators suggesting it
remains in a mixed posture for now.

This market still has not yet exceeded the last key high of 7245 established back on 12/18.
However, an opening BELOW 6986 in the next session would warn that the high of this session may
stand at least temporarily.

We did close below the previous session's Intraday Projected Breakout Resistance indicator which
was 7353 settling at 7000. Nevertheless, this market closed above the previous session's high
warning it is not yet rolling over. The current Projected Breakout Resistance for this session was
7346 which we still closed below. The Projected Breakout Resistance indicator for the next session
will be 7283. Now this immediate indicator in the current trading session is above the current
close offering projected resistance. Therefore, we either must open above it and hold or close
above it to imply the rally is still in play. Otherwise, failure to exceed 7283 during the next session
warns the upward momentum may be lost and a retest of support becomes possible.