Sugar update…

Sugar has gone back to retest the highs at 11.70 and on the 60 min chart appears to be some sort of double zig zig zag that has concluded or will make a move towards 1184-1200 and complete this abc up. Either way I am still looking for a push lower to Around 9 cents to finish this abcde 5th wave. 

Dow jones …w2?

Dow dec futures look like they may head higher towards 17k to finish a possible w2. Which also lines up at the 50 day mvg avg. if this is the case a monster w3 down to 12300 could easily materialize. 

dec corn scenario triangle

DEC corn looks to be carving out a triangle and looks to be half way complete as c wave looks to be completed or close to completion. The next 30 cent move should take us back to just above the 360 level where we should see a bounce to completion. if this is the case target zones for dec corn should come in somewhere around the 306-316 area.  (any push back towards the 395-400 per dec I will be selling.)

natural gas expanded triangle for B wave finished

natural gas may have just finished up the B wave expanded triangle. if this is the case we should see a reversal lower in the next couple days as ill be watching for a bearish daily candle to get short this market.

Sugar weekend update: commercials (net short)

Sugar pushed a bit higher on Friday but I'm still of the belief that one more low is around the corner for the sugar market that could take us somewhere around the 9 cent area.( if we get here I'm a full bull) By the looks of the commercial money they are fairly close to an extreme net short position. Let's see what unfolds. Position: waiting and watching as of now and may take a short position on any daily resistance candle. 

Sugar… a new low coming?

Sugar rallied this morning but as of now couldn't hold on as the contracting diagonal is still in play. A push below today's low of 1127 October should set up more pressure to the downside.  Again we will watch and waiting for this formation to complete as it will set up a great buying opportunity at around the 9 cent area if this scenario plays out

Natural gas … min chart expanded flat for wave 2

Natural gas front month 5 min chart has put in what appears to be an expanded flat for wave 2. If this is correct prices should reject the high of the day and begin the downward wave three to a target of 2.605. Let's see what happens. 

Natural gas… waiting for the breakdown

Natural gas looks to be finishing an abc zig zag to end at 271.5. I will be adding to my short position on a break of 265.0 let's see where we go. 

Sugar d wave completing today?

Oct sugar…the D wave should be completing today as a perfect A=C and would be 1160. I will be selling here anywhere near 1160 as I'm looking for a resistance candle to form. Possibly setting up an evening star doji or a piercing pattern. Targets of I'm correct in my counting is around the 9 cent area.  At that point I will be a full fledge bull buying on a break of the lower trendline. 

Dec crude…

Oct crude looks as if we are putting in the w2 as we come off and a break under 4321 puts it in a 3rd wave lower toward 3826. Let's see if we break

Euro $ dec 2016 ending diagonal complete

Above is the chart for dec 2016 Eurodollars. It looks as if the ending diagonal has finished so I am expecting a 

Drop to at the least 9803. And possibly lower. We shall see. 

Christmas crude

A reversal today has crude gunning for the 50 day avg at 5059. Hopefully we don't breach this 5213 as I'd like to see crude fail here. 

4th wave triangles in the indices

nasdaq as well as all the other indexes are setting up what appears to be a 4th wave triangle. if this is the case we have another leg lower

soybeans continue their slide..

daily nov bean chart looks as if we are currently in a w3 lower and this target comes in at 803 on the downside.

euro dollar 2017 2016 interest rate futures reversal to higher rates soon?

The EDZ16 and EDz17  have presented the sell signal this morning on the dow meltdown. Currently short this market as of today on the throwover of the ending diagonal on the edz2016 at 9892 risking $ 250 per contract to possibly take a shot at 2500 per contract. Great risk reward trade here in my opinion. 

Crude oil… we bounced alright but not much

Crude oil did bounce but not enough as the next obj on crude comes in at 3778 per dec contract. 

sugar targets for wave c of the ending diagonal .........

sugar looks to be finishing up the c wave of the ending diagonal that most likely will end around the 1000-1020 price range per oct contract. the d wave higher should enter into the price range of the A wave ending @ 1152 then the final push lower to just under 9 cents. here we should see the final bottom in place and a rally back to 14 + should take place . This is my current count as of now and will be watching for this to play out.

will oil hit the target and bounce? looks like it to me

dec crude oil is creeping up on the 4244 trgt and a great risk reward trade. (orders to buy at 4245 and 4240 in and waiting. lets see if we hit and reverse. 

Natural gas… no doji today

Natural gas rallied today as I was hoping for a bearish candle would form. Very possible that tomorrow could set up the bearish candle as we have thrown over the downtrend line of  the wedge pattern which is common in this formation…let's see how we play out! 

Sugar…descending triangle

Has sugar finished the c leg of a contracting ending diagonal or do we see 10.20-10.00 before the d leg up? I was hoping to get to the 10 mark as that would be a perfect ABC for the C leg to finish. A relief bounce  then the final push lower to around 8.50-8.75. ( this happens to be the long term trendline!)  Keep watching here as this should be a great long term trade arising.