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Frequent Contributor

for all you super bulls, a five wave top

five wave top.jpg

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27 Replies
Senior Contributor

Re: for all you super bulls, a five wave top

How anyone makes any sense out of charts is beyond me.  I'd have as much luck with a dart board as trying to see anything that I could extrapolate from this chart.  Abotu everything you see it going generally up, you can come to a precipice and over you go.  I learned a long time ago that I can go broke being right on the trend and wrong on the timing.

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Frequent Contributor

Re: for all you super bulls, a five wave top

It looks simple too me.

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farmcorn
Friend

Re: for all you super bulls, a five wave top

I would have labeled 1 and 2 differently, but 3,4 and 5 are what I have.  Should correct below wave 4 right?

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Senior Contributor

Re: for all you super bulls, a five wave top

Since we have had higher highs and higher lows since from back in July to now it looks like wave 9 to me. One of these times it will break and the wave counters will say  I told you so.

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Senior Contributor

Re: for all you super bulls, a five wave top

So a producer should be looking for a double top in about a month or so to confirm that this was the high, right? Probably will be a few people shorting the market once it gets close again to yesterday morning's high.

 

Some of my friends think the market is poised to go a lot higher....Other friends  think that the highs are already in.

 

As for me....well....I tend to side with my friends.

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farmcorn
Friend

Re: for all you super bulls, a five wave top

My label would be 1,2,(1),(2),(3),(4),(5) 3,4,5 and wave 5 may not be complete.  (1)-(5) are subwaves of 3. 

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Veteran Contributor

Re: for all you super bulls, a five wave top

with a conservative rumored  $4-5 billion expected to come into commods over the next month? doubtful a top is in place............now add into the cold wx heading for the plains later this week and the other wx related problems across the globe at this point? yesterday morn was not a bad selling point if money was needed. i plan on selling some old crop corn for an easy .75 above yesterdays close.

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Senior Advisor

Re: for all you super bulls, a five wave top

All a chart tells me is where the market has been. It doesn't tell me where it is going.

Veteran Advisor

Re: for all you super bulls, a five wave top

Krafte-- remember not long ago I kept hearing the world was "awash in wheat" ---wonder where those folks went ? ?

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