http://www.futuresmag.com/2013/10/18/russia-may-lose-4-million-tons-of-wheat-as-rains-h?ref=hp
Sugar already started it's rally up, back in late August mainly on news of Brazilian weather related conditions.
so when will beans, corn and coffee kick in?
Gann used a Hexagon type chart wheel for predicting wheat. I'm going to follow along with it but use Harmonic projections (fibs) as well. Here's the chart.
You can use a simple formula to predict the Time Frame of the next hi or resistance area. The 1 st hi
before the pullback is the key number. It usually
works extremely well with Elliott wave mapping as well. Since it is the first pullback I'm going to label it
a & b waves . The low was 16.02 and so far the Price is moving about .07 cents per day. The next
resistance area as a past history price at $18.33 that
occurs on the 33rd day. The ring calculation is close at 38.96. The 18 days hi,with the 5.5 day pullback is Harmonic.
If the Price continues to move on the daily average the wheel can predict day & price. If it starts moving in larger swings the price naturally will have to be adjusted to continue to be correct.
The Utilities look to be turning Bullish, Besides the Cloud Chart there are other Harmonic retracements and projections as well.
![]() |
click to enlarge |
For Info purposes I exited my Trade in UNG. The 60 minute time frame harmonic pattern satisfied and although there is an 'a-b-c-d' pattern higher (21 and change) the Gann oscillators turn 'negative' on the weekly as well as the Daily charts.As I mentioned before in earlier posts I was concerned whether the cycle was completed or Not. Probably not.
I probably sold SWIR early as well,my line of thinking was the degrees of the move and hoping for an retrace of importance. It could be one of those stocks that do not have much in the way of pullbacks.In that case it may be better to 'Ride' a moving average all the way.
All that being said we also have an Important 'Spot" on the square of Nine this next week,which means beware of a turn around or change.The Dow still looks like an wave 3 to me and has not broken any previous levels to change that. The NASDAQ has Been in a Different Wave structure as I have been alluding since 18 months back on my Twitter Feed. It has gone far enough Now that it Should start a wave 3 formation. Seems like Time is always a Friend or Foe. Best Wishes
Edit: P.S. Be sure to check out Tom McClellan's Market comments this week,it's Good. link under Links.
No comments:
Post a Comment