FOR FRIDAY: (6/15) If you wait long enough, your numbers will come, and we all got faked out by Tuesday’s report action that triggered buy signals and then they flushed everyone down the drain. Absurd target from earlier in the week came on beans at 923 and corn is close to 360 key support and secondary low.
JULY SOYBEANS
TRADING RECOMMENDATION: Stand aside.
TODAY’S COMMENTS: (6/15) Key 3rd-wave target is in. Fourth-wave bounce projects 960 or 982. Markets don’t go straight down. If we’re wrong, 900 is next and then 872. Cycles had suggested short-covering.
OVERALL: When beans get killed in June they are very open to pollination problems and recoveries into late July or August. We are crunching cycles and numbers and will report soon.
CYCLES OVERVIEW: Higher into June 18.
