Quick look at Disney stock

$dis has gone far enough and actually thru the 1st wave 3 target of 68.50-69.00 to qualify for a full wave 3.  The second wave 3 "extended" target is 93.20-93.50. I'm still watching this market as I believe we are very close to a top here in the third wave with a w4 target to come in around the 60.00 price range. 

No position as of yet

Guess who awake… and hungry

After scoring new highs we have 5 waves down completed and possibly a w2. A close near the intra day lows or even a breakdown could send us lower to a target of 15449 if a full wave 3. 

Holding short 

Dow futures… will it take out 16540?

Yesterday's post regarding the Dow futures in still in play, but may possibly be invalidated. A push above the 16540 area will do this. If a new high is achieved the daily chart is showing a ABC to finish the 5th wave of wave 3. Trgt where A=C is 16560. 

Side note- Intraday 1 min chart shows a completed or very close to completed 5 waves up.

Positions holding short…

Lumber… where we going from here?

While looking over some charts tonight I came across the lumber chart and it caught my eye. I will be watching this market as I believe this thing could get rolling higher very soon. (Small position opened 332.90) 

Detailed wave counts on this mrkt with targets. Commoditykid@gmail.com n I'll send you my current count.

Facebook… update wave count

Facebook is looking great and I'm looking for the start of the c wave lower to around the 44-47 area as this was the prior wave 4.  (Still Holding short ). 

Order placed to sell under prior low at 59.00

Dow futures wave 2? Or are we moving on up?

Dow futures are still in a possible wave 2 correction… a breach of 16540 would negate this count… let's see how we play out.  I would really enjoy seeing this market put this wave 4 in… a push below 15979 opens the door to further declines. Targets would be the prior wave 4 near 14500. 

Weekly chart

Canada$… is w5 down ready to start?

Looking at the June Canadian dollar. The daily chart looks like a complex wave 4, with the last 5 wave up move happening now. My Upside targets come in at 9125 to 9180  to possibly finish the formation and then the reversal lower.  I will be watching here as I believe we are in the last stages of a c wave that targets the 8597 on the downside. 

Natural gas updated count

Natural gas with the recent push down appears to be in overlapping waves and looks like we are forming a wave 2 of wave 3. Targets for this wave on the downside are 4.248 down to 4.073 

april gold / june gold count modification.

As of this morning my first count invalidated as prices slipped below my 1280.10 price by about 3 bucks. the other related count was that we are still in a wave 4 deep zig zag but wave 1 ended at 1255.10 which would keep this count valid.  The other scenario is that this could very well be wave 2 as it qualifies on being deep enough and a zig zag which wave 2's often are. either way ill be watching for prices to push higher.

-  holding long june from 1293

Count for April gold…w2 or wave 4?

April gold moved as low as 1282.40 as of this writing and has yet to crack that 1280.10 level and the count currently remains as a wave 4. If however we do manage to trade underneath this price of 1280.10 then my count will change to a possible wave 2 zig zag. (Normally Wave 2's usually move 618-.786 of wave 1) this would move the target on the low side to 1227-1262.7. For now though I'm counting this as a deep wave 4   Positions holding long for now. 

Dec corn upside trgts…

Well that was quick -dec corn truncated the 5th wave down intraday to possibly complete the daily triangle and breaking out… upside target for dec corn 509 1/4…

Christmas corn setting up

Dec corn looks looks to be in the wave 3 lower of a corrective c wave of a flat forming that is near completion… Once this formation is complete I will be looking for much higher prices. Lowest downside target is 4681/2-472. 

As you can see buy the intra day 5-min chart the impulse down is plain to see and a push back to 4801/2 to 482 will be needed to move us out of the impulse down and set up one last leg lower. This will set up my trade. 

June lean hogs wave 4 happening?

June lean hogs are seeing a nice rally close to the highs we saw this month. It appears still to be in a complex wave 4 flat correction if we hold the highs. This is still my main count as of this post. 

$cat in a w2?

$cat looks its  putting in a zig zag for a wave 2 and a break under the 67.24 could move this stock back to 40-50 price range…target for the wave 2 to end would be 102 20-102.50. 

April/June gold is a extended wave 5 rdy to start?

April gold on the daily chart looks to be putting in a deep zig zag for a wave 4… if it is a w4 by no means should we move below 1280.10. As wave 3 did not travel it's full distance then a 5th wave extention should be expected. Very good chance I take a shot on the long side here as reward out weighs the risk here in my opinion.  

Positions. Long June contract 1293.50 

Facebook wave 3 down target approaching

Facebook has played out nicely and the wave 3 target is approaching at 60.00. I will be taking profits on half the position. And the other half will let go as I still believe we head lower…

Intraday wave 2 playing out in nat gas?

Looks like a possible 5 waves up on May nat gas and looks like we may be in a corrective wave 2 intraday… a push back to the highs breaking 442 and 443 today sets up a wave 3 higher to around the 4.60 price range if a full wave 3.

Holding long positions and will be adding on June and aug on a break over these levels mentioned above.  

Quick look at May feeders

Looking at May feeders it appears prices are moving in on my target of 18105 to 18115 for an extended wave 3. 

Normally I do not like selling wave 3,s but the risk reward on this trade will be low so I may step in front of this grinding 3 . Still watching for now.

April fats… wave 4 targets

April fats after chopping around some look to finally be heading lower in the wave 4… targets are 140.71 to 138.83 as I am expecting it to be a deep correction.