Markets seem to waiting for some type of catalyst to determine the direction of the next leg. Inside day in Crude oil as prices hover around $82/barrel.

1 year ago today equity markets bottomed and a vicious rally ensued but are we any better off than we were at that time? The lack of new buying above $80 hints of a correction to come.

That is not to say ALL commodities will correct but examining the technicals and digging deeper into the fundamentals we expect a “healthy” correction in a number of commodities.

This phrase is coined for the college basketball tournament but I think it is an accurate description of what to expect as a trader this month.

MEATS: 03/04/10 Higher closes yesterday for live and feeder cattle along with the hogs but lower for pork bellies this time.