Dow must hold levels…or else!!!

A break of the b wave @ 16518 would not be good as it sets up the 3rd wave lower to around 15010 if wave 3 is just 1.618 of wave 1… on the intra day chart.

The weekly Dow jones has retested the break down around the 16730-16850. Imm my opinion the top has been put in and the e wave lower has begun…

October crude wave 2 almost at an end?

Oct crude on the daily chart is creeping up on the first target of the possible wave 2 end at 94.90.  Watching

Downside target hit on nov soybeans!

The downside target has been hit this morning on nov beans at 1040… and my buy orders were activated…. Onward and upward!!!! 

Softs and some currency.

-Sugar has been trying to break higher but has been unable to do so. We are still in the possible deep wave 2… holding long positions in mrch and may. 

- dec cotton has been grinding higher as of late with a possible start of the wave 4 higher towards 67-69 in a deep correction. Holding long from just under 64.00

- British pound : the pound is now trading at a possible wave 4 level so will be watching this level to hold.

- Euro currency : looks to be in a w4 triangle with the E wave higher still to be completed. With a push lower to possibly 13320. Currently flat as of this writing

Updates… sugar, cotton, corn euro and cable

I will be updating these markets this evening

Thnx

CK

Euro… Mrng update

The euro looks as if we are currently in a w4 flat of wave C… this should be a more complex pattern possibly in the form of a triangle or a flat that should target the 13475-13520 level on the upside. 

Sugar update… did wave 2 complete?

Sugar after completing 5 waves higher from the start of jan looks very much like it has possibly completed a nice shallow double zig zag for a wave 2. A push back to the high of 18.50 sets up the wave 3 and targets 2211 if we get a full wave 3.  This is a risk reward here to my liking and I will be adding to my position in the mrch and May time frame.