JUNE COMMENTS
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Comment numbers for 20060614 207
GENERAL COMMENTS
"It would indeed be ironic if,
in the name of national defense,
we would sanction the subversion of one of the liberties . . .
which makes the defense of the Nation worthwhile."
- United States v. Robel, 389 US 258, 264 (1967)
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1. We always want to be aware of those projected turning points on page 368 of "The 2006 $upertrader's Almanac - 1st Half Edition".
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CURRENT COMMENTS
The evils of tyranny are rarely seen but by him who resists it. UPDATED 20060614
COMMENT #207
CHART #416
1. A few days ago, the following CHART #395 of daily prices for the continuous spot futures contract suggested that the advance shown was at an end.
2. Today's update of daily prices in CHART #416 shows that the initial decline appears to have unfolded in the 5 wave impulsive sequence marked in the CHART by the black numbers (see pages 283-92 of "The $upertrader's Reference Manual").
3. From the low, the market experienced the sharp 2 trading day correction shown.
4. The market appears to have formed the chart pattern shown by the three red caps.
5. The red lines at the top of the CHART show that the movement has unfolded over 13 & 8 trading days, 21 total (FIBONACCI #s=8, 13 & 21).
6. Yesterday's down-gap is consistent with the interpretation shown.
7. A break of the lows shown in late May and June is likely to suggest extreme weakness in the complex as this is one of the stronger markets.
2. We always want to be aware of those "Inversion Cycle Indexes" in the weekly pages of the April through September edition of "The 2006 $upertrader's Book of Linear Time Cycles" which is available in an easy-to-use electronic format. A sample of the format for the charting file may be seen in the NOTICE posted here. Ordering information here!
3. The initial issue of the free "Trading on the Edge" E-Zine was released 20001021. Archived copies are available here. Subscription information here.
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-- John Hay, 1872
