Updates this weekend and a recap of…

Nat gas, sugar and corn…updates over the weekend so check back. 

Thanks for the emails… and happy 4th

Just wanted to day thank you for all the responses via email to receive my market commentary and updated counts. I really do enjoy doing this and if you ever need me to look at any markets or have suggestions please feel free to email me. 

Thnks again and happy 4th from orlando fla…

CK

Indices… are we finally topping?

Above is the chart for the Dow jones industrial avg hanging on the D wave completion line. About 400 points over to be exact.  I will be building a short position here as I believe the risk of being long is too great and a top could be put in any day now.  And if I'm correct the e wave is coming next. 

My guess is that this e wave impulse down will catch the majority off gaurd. price target comes in @17130

Good trading

feeder cattle updated count on a longer term chart

after a long time trying figure out where we are in the count by looking at a daily chart I figured i would go back and take a look at from way back to 74 and take a look. This picture becomes a bit more clearer and may shed some light on my marble head... It appears that we are in a wave major wave 3 that has a little more room to work higher has targets upward of 220.14-226.33. as major wave 2 was a flat Im expecting wave 4 to be a deep zig zag to the prior wave 4 of around 133 50 or so. until then I will be watching for these numbers. this also would coincide with the fats running up to my 163 target.

watching for this market to set up

Deep wave 2 for w2 of w5 in Sugar?

Sugar has now hit the .786 retrace for the possible deep wave 2. The target was 1776 and went through it by 5 ticks. It also coincides with the 200 day mvg avg that comes in at 17.79 on the oct contract.  We will see how we open this evening as I will be looking for a higher open this evening, and a possible start to the 3rd wave. 

I feel a reversal coming..... christmas corn

Corn had an exciting day after the report as it slid some 20 plus cents to hit my target of 425 and hold there for the close. I can now count 5 wave lower and a possible reversal in the making as there are only several scenarios for wave 5 and we can scrap two of them as of this post. The daily chart below will show the labeling and what I will be watching for.  I'm looking for the reversal though.We will see what comes about .

Is the US dollar set to slide to 75 possibly and lower?

I think this is very possible as I believe the C wave of  wave D in an ABCDE triangle is playing out.... below is the weekly chart showing the current A B and a possible start of the C wave lower. and if its correct we should be seeing a decline in the dollar to around the 75 level and possibly lower towards 68.

Here is also the monthly chart of the US dollar and you can see a perfect triangle forming! As you know I am bullish commodities and this is part of the reason.....!!!!

Here is the count shown on the monthly chart showing the trade setup and triangle forming. once complete we shouls see a complete collapse down to to a minimum first target of 55-56.

Nat gas 5 waves down of the c wave complete ?

Aug nat gas expanded flat for wave 2 of wave 5 is still in play as the targets for the c wave have hit at around the 440 level . I can also count 5 waves down as being complete on the daily chart. If this is the correct count wave 5 should begin this week. Watching for a gap higher open this evening.  

Weekend look at sugar…

Best case scenario—

we have completed 5 waves up on may 16 and wave 2 ended on June 13th at the prior wave 4 at 1747 as a shallow wave 2. A push back toward the high at 1891 and break of this sets up the wave 3 impulse. Trgt comes in at 2263 if this in fact is the start of the wave 3. 

I can count 1-2-3-4 waves higher from June 13th. Now I just need to see the 5th wave higher this week to complete w1 of the w3. Should be an eventful week!!  

#Holding longs