Dec cotton… bottoming at 68.00-64.00? ?

After a small bounce from just under 68 back to 69 in dec cotton it appears that the downside target of 64 and an end to this decline comes in play… setting up as we could turn quickly. 

Intra day corn dec

The move up this morning was corrective and 5 waves down intraday can count as complete. Lower trgt comes in at 363 1/2. Order to Buy premium 364.0

Facebook wave B of the expanded flat finishing today?

Looks like we are in 1 of two scenarios? 1st scenario being that the a wave completed at 54 n change and the B wave of the expanded flat wave 4 will finish today with a reversal lower and a C wave should be expected that moves prices well below 54. This is my first and main count, as wave 2 was a simple zig zag. 

2nd scenario would be that we have completed the 4th wave and the wave five could finish shortly. 

Let's see that reversal today

Will this be the headline soon?

As I watch the morning news on cnbc  I hear many different arguments about how the economy getting better as people are moving back to work. As a technical trader I try very hard to concentrate on what is happening on the charts and not so much what people are saying. I must say, again that This chart pattern on the Dow looks to be complete.  I'm fully expecting the E wave lower of this triangle to start at any time now. This move will most likely be a sharp sell off and catch many of these hedge fund traders on the wrong side of the market. We will see how we play out! 

Natural gas…wave 3 finished and rally?

: We are currently still holding around the .786 of the move up from last Nov.  This last push down does look impulsive and I can count 1,2 and a 3 that had a target of 3.81 and 3.74 on the daily chart. If this is the case we should see a possible rally in a 4th wave that should be deep and take us back to the 395-408.  Maybe the rally starts today? 

Nov beans… morning commentary

Nov beans slide continued on mon and tues but like corn the chart reads somewhat different. I can now count 5 waves down as almost being complete as a push down to the 1040  may still possibly materialize. That being said this leg down as shown in the chart above is looking complete and the bull run is ready to resume. All the signs are pointing to much higher prices in the next couple years…

Dec corn… here we go

Dec corn after sliding on Monday and Tues surpassing my targets of 380 on the downside by 10-15 cents. Is not uncommon especially when you get a finishing 5th wave of what I am counting as an expanded flat that started back on May 30th 2011. This market has gone far enough to count as complete and I am adding to my position as I believe the start of a major uptrend is setting up. No doubt this move could catch traders off guard as this move is pricing in a monster crop in my opinion.

nat gas on the .786. will we reverse in a wave 3?

natural gas for aug delivery is currently trading right at the .786 support for a possible end to wave 2. A push back to the 4.89 sets up the wave 3 of wave 3.. to a target of 5.94

Dec corn .... update

Dec corn again even with the gap down lower this morning looks as if wave 3 could terminate at any time now with wave 4 starting to the upside to target the 440-460 price range in a shallow complex pattern possibly in some kind of triangle.  Then all is left is a wave 5 down that can do one of 3 things.