Hourly s&p chart another setup to sell?

An hourly chart shows a nice 1-2-3-possible 4 and the 5th wave up to come. Targets on the topside will be 2020-2030 if we get a full w 5 if we have in fact finished the corrective 4th wave. 

The two blue dots connect the beginning and end of w3 and a push down to 1980 would be the .382 but we have move far enough for the w4. This final leg may finish on news from the fed…

Remember wave 5's can truncate, move in equal length of wave 1 or extend. We will see… staying aggressively short! 

Request for lumber count

Lumber looks to be testing the 328-330 level in a flat formation for wave 2,and a test of this level is definitely possible.( per nov contract)  this looks to be a triangle of some sort for a wave 4 wedge or triangle of a completed 1-2-3 down and almost completed w4 with the 5th down to come. 

Longer term- the picture looks bullish and a wave 2 zig zag looks to have completed and a push back to the highs sets up the w3 higher. 320-330 should protect the downside as a w4 triangle looks to be playing out on the weekly chart with the 5th higher to come.  

Good trading

CK

Sugar… target hit oct… mrch w1 invalidation?

Sugar has hit another target on the downside at 14.33 and again I will be making an effort to get long here as I believe a bottom is close at hand. I will be getting long the back mths of mrch May time frame as it he charts here are still managing to hold into a possible wave 2.  Although mrch is 1 tick away from invalidating at 1659. The next target will be down near the 1630 level. Let's see if we hold here…

Targets for dec crude…

The last wave of the corrective b wave is setting up perfectly and I will be purchasing the dec crude contract at the target range from 85-88 … 

Sugar- short and sour

All bets are off on oct sugar now and this move looks impulsive lower and target comes in at 1433 if wave 3 is 1.618 of wave 1…. 

Watching for now. 

Morning sugar… sweet or sour?

Front month sugar is really playing with invalidating the wave one that started back on the 28th of jan at 1470. Until this happens though the count remains intact as a deep wave 2 that must complete or invalidate this count…. As I have seen many wave 2's act like this in my trading career a push back over the 15 via oct contract will be needed to close back over the weekly trend line… 

Also as oct is at a discount to march and May contract by almost 2 cents. There is a great likely hood that if this is the bottom and we do hold that we start to close that gap… 

Position:

Long position taken today at 1473 oct with a 7 pt stop) as I wanna be out on a decisive break of 1470. Very low risk trade. Let's see if we are right. Should know very soon!  

Good trading

Is dollar Rally a mirage???

The US dollar looks to be moving toward the e wave target at 85.05-86.00. Of the B wave triangle… if this is the correct count the US dollar could be in some trouble. E waves will often throw over the trendline and fail… we will see what happens here. 

Dec crude oil…

Dec crude is continuing to slide and the 85.00 -87 price target is looking very attainable at this point to finish the ewave of the triangle. Watching

Sugar invalidation of wave 1 ???

Sugar is approaching an invalidation point for the wave 2 at 1470 . I have covered my position as of the 1st of this week tues and will be waiting for this to play out as the rally this morning has failed miserably. On a side note wave 2's are allowed to completely retrace wave 1 but cannot go under the beginning of wave 1 which in this case is 14.70 on the front month oct contract…

Back from vacation!!!!

After a brief vacation last week I'm back and it looks like there are some things setting up… if you would like any particular market updated counts please feel free to write!

 

Euro …

The euro after sliding last week has formed what appears to be possibly the bottom that I have been waiting for and spoke of about a week ago in one of my posts.  I will be watching for a gap higher this evening as I am still holding long from 132 and again from 13130 today.  Trgts come in at 13350-13450. 

Euro currency

The euro looks to have finished the psh on the downside. Will be taking a long position here 13202. 1st Trgt comes in at 13380-13400.

Sugar… wave 2 in progress intraday?

5 min chart of march sugar looks like 5 waves up completed and we are zig zagging into a w2. 17.55-17.60 first target for wave c to conclude.  A close back near the highs today would set up a w3

Nov beans… new low n reversal?

Is a new low and reversal in the cards today?  I will be adding to positions in nov under 1040. Happy trading. This could be a big one! 

Dec crude oil update. E wave in progress

Above is the weekly chart of crude oil and it looks like the ewave of the triangle is finishing. Targets come in 88 as we are setting up this market for a big run up in my opinion. (Watching this market as of now). 

Sugar… to hold or not to hold! .786

After the continuation grind lower and again down another 6 this morning oct sugar is struggling to even have an up day. Currently we are still looking at a possible deep wave 2. The 1450 on the current oct contract is the .786 level and a common target for wave 2's to travel to. We must not by any means push below the 14.70 area. A perfect situation would be a bounce in a 5 waves starting today. ( The mrch contract .786 is 17.28) and we are currently trading just above that number.  

Wave 2's often are steep zig zags and this last leg down C wave is almost identical in length to the A wave. 

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