Celebrate the Fourth of July Holiday weekend early with the brand-new July 3 Daily Futures Junctures “Weekly Wrap-up” edition. In this explosive publication, editor Jeffery Kennedy sets off two dozen fireworks of opportunity in these (and more) key markets:
Cocoa: Million “Dollar” Question -- On the morning of July 3, cocoa prices sweetened to a dizzying 28-year high. As for why, one major news source writes: “A weak dollar is providing the market with a boost.” (Guardian.co.uk) News Flash: From its mid-March bottom, the U.S. dollar has rallied off a life-time low and gone mostly sideways, right alongside soaring cocoa prices. (Also note: From 2002-2004, the greenback plunged 30% to a then record low, while cocoa prices ALSO endured a 30% sell-off). You have to wonder…
Orange Juice: Drink It In Last Friday, the June 27 Weekly Wrap-up drew a bold arrow pointing UP on O.J.’s price chart. One day AFTER the juice rocketed to a four-month high, a July 3 newswire cited “growing concerns that California’s citrus crop may be in jeopardy of contracting greening disease” as the reason for the market’s sudden rally. Nothing tastes better than a big tall glass of seeing the turns before they occur.
Soybeans Steal The Show: The March 2008 Monthly Futures Junctures “Featured Market” laid out the following path for soy: “…Thereby setting the stage for a wave (4) decline… Once complete, I fully expect the recent uptrend to continue to much higher levels.” A sharp sell-off to four-month lows followed into early April, preceded by a powerful run-up to an all-time record high. Weekly Wrap-up spills the short side of beans.
Lumber: Out of the Woodwork According to main street, the slump in lumber prices is a direct result of the crashing housing market. Just one problem: The five-year long U.S. housing bull didn’t run out of steam until July ’05. Lumber futures, however, reached their respective peak in August 2004.
Flash ahead: On July 3, lumber prices soared to their highest level in one week, fulfilling the UPWARD path outlined by the June 27 Weekly Wrap-up.
Pork Bellies: The Pig Picture Back when bellies were just below a fresh contract high, the February 27, ‘08 Daily Futures Junctures wrote: “I have adopted a bearish wave count, calling for a continued decline to well below” .90-, .85-, .80-, and .75-cents. Now that the market sits at a new contract low, Weekly Wrap-up reveals whether bellies will see bullies in the weeks ahead.
Believe it or not, that’s just the pre-show. The July 3 Daily Futures Junctures “Weekly Wrap-up” presents labeled price charts for TWENTY of the world’s leading commodity markets -- including such chart-stoppers as Crude Oil, Copper, and Corn.
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