Apple stock topping out???

Apple stock looks to be within a topping range here and I will be starting a short position in the price range from 117-125 as the short side risk to reward is getting very favorable. 

Good trading

CK

march bean oil at a glance

 Was looking at the bean oil chart and it looks interesting.


on the daily chart march bean oil is looking like its currently trading in a corrective wave and could be about finished and ready to resume lower price action.today I will be looking for a rally back to the 3380-3418 area and possibly higher if the high of 35.39 is taken out. im leaning more toward that 3380-3418 resistance holding.( target on the low side comes in at 2827)

good trading
CK

natural gas...... setting up for a push higher

 natural gas has been very choppy as of late and it is looking like we are putting in a wave 2 expanded flat as labeled above in this 60 min intra day chart. this looks to be setting up as a textbook formation and as I watch this possible 3rd wave unfold i will need a push to the 409 level and then a bounce in a 4th wave followed by a decline somewhere in vicinity of 390 to 404. after complete we should see a reversal back to the high of 364 and breakout in a wave 3 to a first target of 540.

good trading
CK
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Is cocoa getting rdy to sprint higher?

Want my count drop me a note…

Japanese yen update…

Almost got the bottom in the Japanese yen son the buy at 8423 per my last post… yen rallying nicely and this final 5th wave lower may have finished out. If so this could be a very nice trade. 

Good trading

CK

Euro currency … update.

                       

                         

My original thought is that we were putting in a 4th wave 3-3-5 expanded flat but it seems that we are in a 5th wave of w3. with a deep 4th to come. Trgts for the 5th wave to end come in at (12325 12273 and max at 12151 .) Or a truncation may occur. All three options are still on the table…Still about s 100 pts from my trgt 

Then we get a 4th wave correction possibly taking us back to the 130 level…. 

updated corn for march contract daily... are we ready to start the 5th wave down ?

 

MARCH CORN

The daily chart of march corn above there are several scenarios that could take place .  We are currently trading at around the 377 area and I would very much like to see march corn take out 400 to complete the upside push and then fail here and retest the low. My targets come in at 326 and then max out at 283.00.  I like the 283 target area a bit more if we can manage to push mrch corn above the 4.00 price as this would align the weekly chart with the daily shown above to the exact price. either way we will be in a 5th wave down and we can do one of 3 things so i am still watching as of now and if targets are reached i will be moving back into the corn market and building a position. 

(for this count to stay validated corn must not breach the wave 1 low of  447 1/4.)

good trading

Japanese yen… adjustment in price target

In my last post I gave a bad target of 8493… after looking over charts this weekend I have lowered my target to 8423… this would be the .618 target of w1-w3.  So we still have about 160-180 points until my downside target is hit.  This is actually in line with with the dollar as we still have room on the $ to move higher to a target of 89.23.  Both the targets are derived from the dec contracts.  

Good trading

CK

japanese yen target .... bottom in sight?

The japanese yenlooks to be very close to putting in a bottom as we are currently closing in on a downside target of 8493 and I will be taking a long position here as I believe the 5th wave will complete here. (again this is a low risk trade as I will be risking about 30-40 points on the downside.)

 as we still have about 90 points on the down side left to go I will be watching for this target to hit.

Cotton thread…low risk buy?

March cotton has possible ended the 5 of 5 of 5 as it held the 58.65 . As the second target for the 5th and final wave lower. It does present a low risk buy with a stop placed below the day's low …

If we happen to break decisively lower the last target comes in at 54.97… we will see what happens…

Good trading

Euro currency 3-3-5 flat for w4?

The euro currency looks as if we could be putting in a complex 4th wave 3-3-5 formation. If this is the case the next move should be higher in a 5 wave sequence to above the  end of the A wave to a target of 128.50-129.50. To finish this flat formation… I will be buying a break over 12507 intraday as this sets up the wave 3…

Sugar trade… weekly n daily analysis

The weekly sugar chart after a sell off to around the 1330 level back on sept 19 2014 did not breach the low made back in May of 2010 setting up a 1-2 1-2 on the weekly and as luck may have it as of today a 1-2,1-2 is setting up on the daily chart…( for this to stay intact prices must not breach the 1589 level on the March contract as that would negate the 1-2,1-2 count on the daily chart.)

 we also have commercials back to the zero line in this market..  I am looking for much higher prices in the coming years so this scenario would call for a break higher in prices to a target of 18.07 on the daily chart in a w3 of 3 of wave 1. 

(Trade: today I will be adding to my positions in the March contract at 16.04 and May contract at 16.34.  ) to negate this formation mrch would have to break below 1589.  We will see what plays out.

Weekly sugar chart above

Natural gas … contracting ending diagonal?

It appears that we are hovering around 360 level as it has pushed thru the lower part of my target and has reached the next lower band of 3.586 with a slight push thru… to 357.  This is also looking more and more like a contracting ending diagonal for the 5th wave of a c leg and the rally late yesterday was the w2 of 5 and w3 of five could have completed this morning . Now I will be expecting a push back to 363 in a 4th and then the final 5th down to a possible new low and then the reversal.  We will see how this plays out…. Still positively  long! 

Natural gas… update

The c wave of the natural gas market appears to be at an end. Just a note:(Also a bullish candle formation has taken form after a lower open this morning) and a 1-2 intraday appears to have formed and we are in the 3rd wave higher that played out this afternoon. We will have to see but if this is in fact the end of the push lower ,a sprint to higher prices shouldn't be to far off in a wave 3 of 3.

Indices topped the w4 today?

The indices have moved far enough to the upside for a full wave 4 and I am expecting the wave 5 lower to take over  any time now.   Trgt for the downside in the Dow futures comes in at 15695.  

Natural gas… bottom in sight

Natural gas looks like we are creeping up on a bottom that could target 364-370 in  the front month contract. As we are in a low risk , high reward target zone I will be taking a position around these levels via the dec contract. 

Crude oil… I'm jumping in

Dec crude has reached a point that I feel comfortable buying … as the risk reward has moved to a level that I cannot pass over… therefore I am buying this morning  @ 7970.  Let's see where we go…

Good trading

CK

Crude oil… almost there

Crude oil is within a hair of the underlying trend line and I'm expecting a throw over of this lower trend line to finish up this final leg down. We are headed into my buy zone… what I will be waiting for is a 5 wave pattern intra day higher…

wave 3 starting in the indexes.?.... finally time to correct?

 

the wave 3 of wave looks like it has started in the indexes..... as we have broken the .786 on the downside in the $INDU from the rally from 16674. a take out of 16674 sets up the wave 3 lower.  if this is the case 16k should be right around the corner.

CK

Crude… bottom in sight

Crude as seen here on the weekly chart has broken down in what appears to be a B wave triangle. This last push down should be the ewave and I will be watching for a throw over of the bottom trend line in the E wave to complete the formation. Price targets are around the 84.50 level. Eating for this formation to complete. A break back over 96 will be the first clue that the c wave has taken over.