00;00;00;23 – 00;00;23;10 Unknown Future trading involves risk and is not suitable for all investors. Content provided in this segment is meant for educational purposes and is not a solicitation to buy or sell commodities. Hey, good morning, everybody. Welcome back to Tech Talk. It is the 8th of July, just after the Fourth. I am Cody. He is Andy. We are the tech talk trio with Michael in the background, pulling the levers, pushing the buttons, making sure we stay on topic as best we can. 00;00;23;11 – 00;00;36;10 Unknown Andy, how was your Fourth man? You got all your digits. You got any fingers? I got all 10 fingers. All ten toes. I’ll spare you. I don’t want to, Captain Morgan. Yeah, right. I’m gonna start Captain Morgan after this morning, so. Yeah, I don’t want to do it. I’m gonna put my foot up on the table here and show you. 00;00;36;10 – 00;00;55;07 Unknown But all 10. All ten fingers. All ten toes. I was your fault. It’s good, man. I got all my digits. I’m good to go. You know, nobody was hurt. But it was. It was good celebrating America’s 250th birthday. So. And speaking of birthdays, well, not really a birthday, but you’ve been here now ten years as of, like, today or yesterday or something like that. 00;00;55;09 – 00;01;19;05 Unknown Is that right? In your work anniversary? Double digits, ten double digits. And you didn’t you didn’t lose any fingers. You can show us. That was the point. Ten years. Years? One decade. How old are you? 35. You’re 35. So, like, that’s you’re encroaching on a third of your life. I know ten years, 28, 28% of your life. And it’s gone so fast. 00;01;19;06 – 00;01;33;24 Unknown Like, you know, they say the good times go by the fastest and they. It’s true. And you never know when you’re in the good old time. The good old days. I know what I mean. It is true. You never realize until they’re gone. You know, let’s not get too depressed here, Captain Morgan, all right? It’s his only. What? 00;01;33;24 – 00;01;52;14 Unknown Night? We got ten minutes here before 10 a.m.. That’s true. Central. True. All right. We had a couple requests. We’re going to do a little rapid fire. Here we go. A little rapid fire. This one first request came from our good friend giddy. I think he’s been on the show before. We got to get it back once. And yes, we do need to get giddy back. 00;01;52;15 – 00;02;13;23 Unknown Come on back. And Jessica. And we still have to get Roger to come on the show to. We’re trying we got to please in. This would be like the pinnacle of like, technical analysis, but we’ll try. We’re trying. 2026. This is it. So the question was, are we amidst a W in the block? That was the question that was posed to me. 00;02;13;25 – 00;02;28;24 Unknown Oh about the start. What do you think, boss? Well, I think the good I do believe we talked about this one two weeks ago when we finally broke out from your downtrend there. Like a solid, solid breakout. It is Wednesday. So we got two more days here. But well it’s three more days because this is this is one. 00;02;28;24 – 00;02;45;24 Unknown Was that. Yeah yeah that is true. So Lee it kind of looks like it. Yeah. We didn’t touch 130 but we got on the one here. Let me let me just do this. It broke out. We’ve seen this song and dance before. This thing is just not cooperating. All right I don’t know what’s going on. We’re getting some technical difficulty. 00;02;45;24 – 00;03;06;27 Unknown Let’s just do this. I’m going to do it by hand. There we go. We had some. We’ve broken out before. This has happened before, but this has yet to happen on after. Clearly put it in a higher low. Yeah. Right. So we had this gap unfinished business. Not all gaps need to be filled. Right. But you had another gap here that did get filled. 00;03;06;29 – 00;03;27;02 Unknown So the little guy, it’s a little guy. But now you’ve made a higher low and broken out of potentially this is still to your point, still three more days. So we need to settle here or higher for the next three sessions. And we will have a breakout of a major downtrend that is occurring after a high or low. 00;03;27;04 – 00;03;40;29 Unknown Futures are saying we’re going to go more like up in here. Yeah. Right up in here. Do you think if we are forming the w last little leg here, do you think we go back to 180 to complete it. 00;03;41;01 – 00;03;59;13 Unknown I struggle with that I do too I struggle with that. I’d say it’s more like we get back into this noise and then see what happens. I’d agree with you, you know, because if you remember, like, I mean, well, take a step back. We trade a 4 to 30 day market, right? Anything can happen between 4 and 30 days in terms of, you know, available cheddar. 00;03;59;15 – 00;04;17;27 Unknown We know that it’s been awfully hot in places like Europe, but also here too. Yes. Not not as long here. And obviously you come from a dairy cows can they’ve got a little bit. You guys handle a little bit better than they do in the EU. I that’s what I’ve heard. Sure. But like that said we have been hearing more about like pretty solid demand. 00;04;17;29 – 00;04;34;08 Unknown You know, we saw that latest round of exports was another good one. So yeah, I mean but again just looking at the chart high or low. Big downtrend. Nice little breakout here. If it’s sustains. And then let’s say next week you open higher then. Yeah I think this you know so let’s just take a little peek at this. 00;04;34;08 – 00;04;56;27 Unknown This guy right here. That number is one 67.25 not I mean you think about it, that’s not that much right from we’re not talking about going like two bucks. No, not 140 or 152 right now. But so and really when you look at like, let’s go take a look at Agust. August is one 60.5 right now. The futures. 00;04;56;29 – 00;05;16;19 Unknown And what’s interesting is that the July contract at 62, you know we could have some big basis obviously. But in order to get up to 62, we do need to see some more upside out of the exchange or July as a sale because of the next. And it’s on its Fourth week of pressing. So yeah. But like again, this is this is a nice little breakout. 00;05;16;20 – 00;05;33;08 Unknown Again. First time we’ve seen it on a high or low like a clear high or low like you could kind of argue that maybe right here. But this this is like very distinctive here versus here. So you’re calling w. It sure feels like it. Yeah. And I think you got to go. You guys go test this stuff right here. 00;05;33;10 – 00;05;57;24 Unknown Agreed. So if that is the case then you know August at like 160 for example. So August again we just took a look. We’ll just take a look at this real fast because I know goody will appreciate it. This is the August class three contract. It’s had a massive break just absolutely gigantic right. So if we do. Oh my gosh Cody they keep changing this stuff on us man. 00;05;57;26 – 00;06;22;01 Unknown Like why do they want to. You know I think maybe we need to create a trading platform where we don’t just start randomly changing some of the tools. So day is a new adventure every day. Here we go. Every day is an adventure. You are 100% correct. So let’s just do this. Bam! Just just retracing a third of this move. 00;06;22;02 – 00;06;49;12 Unknown Take ship a 1730, which is roughly that 6768 cheese equivalent. So we’ll see. I mean, and really like what I think what you could theoretically retrace is just getting back into this guy right here. A lot of choppiness and another leg down. Retrace this move and then see where we go. But hey, you know, if we get a pop in the block to over one 60th August is to G because you would expect there to be some premiums. 00;06;49;15 – 00;07;09;03 Unknown Yeah. We’ll see. That was at Goody’s request. You said we had another one here. We did request. That is so so this is November beans. Yep. I got to tell you this this thing is just that’s why no I was going to say that computer is not cooperating very well. Maybe my hands are too sticky because it’s so humid up. 00;07;09;05 – 00;07;32;28 Unknown I think the, the question that was asked to me was, do we put new highs in, in soybeans? And my response to them was more than likely, no, this was yesterday. I mean, today we’ve we had a little bit of a bump here up to what, almost $12. The high was 12, ten. I mean I actually 1214 but not a settle there. 00;07;33;00 – 00;08;01;21 Unknown I just I don’t know man. Do you make a it’s like a triple top at 1210. Do you make a quadruple top. I don’t I don’t. So this is what 1215 change. Yeah basically. Right. So what’s what’s super interesting is, is how quickly you got into here. And then the market very clearly rejected that. So anybody selling here anybody any news any selling. 00;08;01;21 – 00;08;21;00 Unknown You had to have been selling in just a handful of days to, to be you were right for a while and now you’re wrong in a hurry. Yeah. So there’s kind of like that piece of it too, right. Right where there’s some psychology that starts to take place where it’s like. And maybe you did something. Who knows? But like, if you didn’t do anything, maybe you’re Hedger or something like that, you sold it, super happy about it. 00;08;21;00 – 00;08;42;18 Unknown And then over just just three days for you, all of a sudden it’s like selling you sell milk, you make six, 50, $0.60 or something like that, and then you have two limit moves and all of a sudden you’re like, that happened in a hurry. So I don’t know. It’s a good question, I think to your point. Like, do you get just like a big fat M. 00;08;42;20 – 00;09;03;18 Unknown So if I just kind of follow the mouse, but and then bam, yeah, it’s possible. That was kind of part of the other question they had presented was if we’re talking to straight out hedges or even speculators, do you sell at 1210? I said, yeah, I probably start selling at $12, to be honest, right here. I think at the very least you know where you’re wrong. 00;09;03;19 – 00;09;39;28 Unknown Right, right. And so let’s just use that 12, use 12 bucks. Easy math. $0.15. You’re wrong. Whereas this market has moved, we’ve seen it move quickly from $12 to 1140. Correct. So you’re talking about $0.15 versus $0.60. It’s a 4 to 1 shot risk reward. That’s that’s the type of person or reward you’d be looking for. But also like what’s interesting about this is that if you were a short hedger, the market also has told you a few times, once, twice and thrice like that little homers out like we got some, we got some good stuff coming out. 00;09;39;28 – 00;10;02;15 Unknown By the way, this isn’t a part like Homer’s Odyssey is coming out. It’s going to be a good movie. You’re still working on Game of Thrones season? Yeah. Spoiler. Okay. Spoiler spoiler. He’s Bruce Willis is dead in six. Spoiler. That spoiled it. That’s it. Anyways, so you know, you know that at 11.25, like the market clearly likes that price. 00;10;02;15 – 00;10;17;09 Unknown So at the very least you’re, you know, you’re getting out of any short features and maybe you’re just buying puts to maybe take some. But also like stay short. Same thing here. I mean if you’re if you’re a long hanger, you’re kind of taking a bit of a risk just buying futures. At this point you probably looking at just owning calls instead. 00;10;17;11 – 00;10;36;20 Unknown So this is I don’t know, it feels like No Man’s Land clearly didn’t like being at $12, but it clearly didn’t like being an 11 quarter either. Yeah. So to your point, you have to trade that range. Yeah. And violent like when we moved from 12 to 1140 fast. Real fast. And to your point, same thing on the other side from 1140 to 12 bucks. 00;10;36;20 – 00;10;57;28 Unknown Quick like real fast. Yeah. Now here’s an interesting one that’s range bound by the way, our last but certainly not least. Oh, look at this thing. So this is October Feeders. I mean, it’s like clockwork, right? It is, it is, it is. So we didn’t touch any of this stuff. We only had two lines. Just the channel that we drew to and didn’t touch it. 00;10;57;29 – 00;11;24;09 Unknown Not once. Swear. And we’ve had this 370 to 340. And this is going back to basically right before the end of the quarter. It took another little touch at 370. And you think about like we just talked about with being the same thing applies here. Right. It’s just it’s obviously one giant range. But like at the very least you know like if you’re a seller here, you know, where you’re wrong. 00;11;24;12 – 00;11;55;08 Unknown You know, you could use this high that’s what, 375 basically. Or if you want to be more conservative, you use that high three 73.5. Either way you know, your risk reward is say, five. You know, losing five versus making 30. That’s 6 to 1 if I’m doing my math right. Yeah. Right. Six times five. That’s 30. And in this range, I mean, if you’re short right now to your point, I look to cover at 340 by puts just to be safe, but probably take a shot at owning futures down there also. 00;11;55;09 – 00;12;19;02 Unknown Sure. I mean, you’re short by calls if you’re, you know, or just futures and buy puts or something. Yeah. I mean we do get stab at 330. But look at the the next day once we you know we got down there and it was a quick limit up move in feeders. Yeah. This was this I mean tier point boom boom you got to be. 00;12;19;02 – 00;12;34;26 Unknown And then even over here to write it made a couple attempts to get through that. And just just not that I did and I remember. So when we were getting down there, everyone was thinking the sky was going to fall, we were going to settle below 330. And then we were going to go back to, you know, 300. 00;12;34;28 – 00;12;54;05 Unknown And it’s like as soon as we got down there, right back up. So this would tell you to stay short. Yep. But be mindful of like, hey, this is like the risk reward profile is changing pretty rapidly. So when you look at this just like you’ve got, you even have the little pennant here. And then it broke out. 00;12;54;05 – 00;13;15;07 Unknown This is this morning’s candle. But even if it’s if it settles here or lower you have this you have this break out of this pennant. This looks like it wants to take a shot at that three over 40 again. So, like, the chart would tell you to stay short, but also be kind of like, hey, you’re starting to really get to you’re getting close to a point, a point where you need to do something correct, and that something is likely not add to shorts, right? 00;13;15;08 – 00;13;35;12 Unknown Right. Yeah. You’re ready and be prepared. It’s going to move fast. Get ready. All right. Awesome. Rapid fire speaking it fast. Awesome. All right man. Well we appreciate the intricate look at the technicals today. Appreciate goodie calling in for the charts. And I think it was Jake that actually want to look at soybeans. So shout out to Jake for looking at that. 00;13;35;12 – 00;13;49;14 Unknown We have an internal and external request. We’re growing. We’re growing fast. People want to know just like it’s going to be out of control. We’re going to be on the moon. So it’s awesome. I love it. Subscribers. 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