The market has made a dramatic rebound after hitting a two-week low Wednesday. The bulls have regained good upside momentum and this market remains dangerous for both the bulls and bears. The next upside price breakout objective for the hog bulls is to push and close prices above solid chart resistance at the contract high of $133.40. The next downside price breakout objective for the bears is pushing prices below solid technical support at this week’s low of $123.20. First resistance is seen at $130.00 and then at $131.00. First support is seen at $128.00 and then at $127.30. Wyckoff's Market Rating: 8.0

June live cattle closed up $0.90 at $138.52 Thursday. Prices closed nearer the session high today and are right back near last week’s contract high. The bulls have the solid overall near-term technical advantage and have regained upside momentum this week. Prices are in a four-month-old uptrend on the daily bar chart. Bulls’ next upside price “breakout” objective is to push and close prices above solid resistance at the contract high of $138.75. The next downside technical breakout objective for the bears is pushing and closing prices below solid technical support at last week’s low of $135.30. First resistance is seen at $138.75 and then at $139.00. First support is seen at $138.00 and then at today’s low of $137.60. Wyckoff's Market Rating: 8.0

May feeder cattle closed up $0.75 at $179.87 Thursday. Prices closed nearer the session high and hit a fresh contract high today. This week’s strong upside price action gives the feeder bulls momentum and they have the solid overall near-term technical advantage to suggest more on the upside in the near term. Prices are in a four-month-old uptrend on the daily bar chart. The next upside price breakout objective for the feeder bulls is to push and close prices above solid technical resistance at $182.00. The next downside price breakout objective for the bears is to push and close prices below solid technical support at last week’s low of $175.85. First resistance is seen at today’s contract high of $180.00 and then at $180.50. First support is seen at today’s low of $179.25 and then at $179.00. Wyckoff's Market Rating: 8.5