Is the cup finally completed on corn??

Corn looks to have completed wave 1 and now I will be looking for 5 waves lower for a wave A.  Then a wave B, followed by the final wave C down to a possible 1st target of 4.45 1/4. Let's see how we play out. 

Interest rate futures C wave to begin?

Interest rate futures are (per my last post ) and a possible bottom at or around  the 1st of June are moving in the right direction and interest rates are moving lower. Today's number may very well get this c leg impulse started so I believe it's not gonna be as good as some are projecting. 

As you can see a decisive break above 125 will be my first clue that the c wave is underway.  

Feeders wave 3 of 5 extention in play

Aug Feeders formation is becoming more clear and look to be in a w3 extention on the daily chart and could target as high as 200.25 so I'm still waiting on this market to finish this 3rd of the 5th wave higher. It's not uncommon for 5th waves in commodities to extend… After this a sharp correction should be in the works for the 4th wave of the 5th.  

Dow jones expanding diagonal e wave finishing

Starting to look like a expanding diagonal on the daily chart with ABCD and the E wave in progress .  targets for the Dow come in at 16704 today if we get a full e wave to the trendline. E waves tend to push over the upper trendline … will be watching here as I will be getting short the futures if these numbers come close to hitting in the $DJI

June lean hogs… ready for next decline or a bit higher????

June lean hogs look to have two scenarios that are possible 

The first is another leg lower in a c wave that could move as low as 110 . I'll be watching for A break of 12147 as this is the current b wave…

Scenario 2 - is that we move a bit higher to the 130 area before we resume the correction in a 5 wave decline. 

 What I would like to see:

The best case scenario would be a push higher to the 130 area as this would be enough for a 3-3-and a final wave 5 down to the 110-115 price target to complete the flat wave 4. 

Natural gas setting up the w3

Wave 3 looks to be setting up…  bought June  premium 482.   Come on wave 3!!!!! 

Lumber… 5 waves down complete

July lumber looks as if 5 waves down has completed… so now I'll be watching for a possible wave 2 to form. 1st target would be 350 -358 if this count is correct. 2nd scenario We also could be looking at a w 2 flat where the prior w4 at  348.10 will protect the top side and hold. 

July daily lumber

Feeder cattle update… it's a grinder!

Thought we had her this morning but… not so fast. Bummer! 

While the daily feeder cattle chart looks a bit like we are still in a w 3 of the third wave higher , with the w4 and 5th wave yet to come of the impulse. 

The weekly chart appears a bit different. By different,  I'm seeing 5 waves up  that looks very close to topping out and ready to begin a deep complex correction in a possible wave 4. 

You will see that the trendlines drawn between wave 1 and wave 3 intersect at the highs today with a small throw over. Usually wave 5s like to end in these areas.  (What I'm now looking to see is 5 waves down on a intraday chart) just have to wait on this one