With the final stages of the competition in sight, the suspense is unbearable: Which teams could breakaway at the last moment, and which ones will fall behind? And no-- we're not talking about the Tour de France.
This is the highly anticipated race to opportunity in the world's leading commodity markets. And, in the brand new July 2009 Monthly Futures Junctures (available on-line July 24), Elliott Wave International's chief commodity analyst Jeffrey Kennedy reveals when and where the major markets will cross the finish line.
First up is Monthly Futures Junctures' (MFJ, for short) "Featured" market segment. Here, Jeffrey identifies the one contender worthy of wearing the figurative "yellow" jersey: i.e. the leader of the pack closest to nearing a major turning point. In this case: Palladium. With three pages and four compelling price charts, Jeffrey reveals how his original palladium forecast has "remained on track for more than three years" -- and where the metal's prices may be headed in the next three.
Next is MFJ's "Wave Watch." Here, Jeffrey provides two labeled snapshots per 11 markets -- each of which include clearly marked trendlines, up/downside objectives, support/resistance levels, and bold arrows pointing prices in their next likely direction. Off the top are these familiar favorites:
Coffee: As prices stood at an eight-month high in early June, the usual experts saw no end to java's upside jolt. To wit:
"From a fundamental point of view, we see... a clear sign that prices will strengthen. There are few people out there who would like to be friendly with the market down at these levels." (June 1 Reuters)
YET -- "Down" is exactly where prices went next, plunging to a two-month low into early July. MFJ gets the facts straight.
Cotton: The June MFJ saw the bull returning to the boll. Both pictures showed prices soaring in a powerful uptrend before turning back down. Since then, cotton prices rocketed to a nine-month high into late July. What now?
Team Grains come in first via the following analysis:
- March 2009 MFJ on Corn: "The stage is now set for a rally." And on Soybeans: "A test of the January extreme seems imminent." The synchronized surge that followed fulfilled Jeffrey's forecast to a "T."
- June 2009 MFJ on Corn: "The stage is set for renewed selling... to below the 2008 low." And on Soybeans: "Odds are that a high is in place that will introduce a selloff..." The freefall that followed was no surprise.
Now, the July MFJ reveals whether the grains' pains are finally over.
Lean Hogs: Consider the following:
- May 2009 MFJ: "We know that a highly traditional technical chart pattern calls for a continuing decline [in hogs]." Soon after, hog prices fell into a "black hole" toward new contract lows.
- June 2009 MFJ: Set the stage for a brief, fourth-wave rebound before resuming the downtrend. And, that's exactly what occurred.
Now, the July MFJ shows whether hog prices will continue to get butchered.
With original price charts for SIX other markets, not to mention the other invaluable features of Futures Junctures Service --including instant access to Jeffrey's 90-minute "Technical Toolbox Video Series" webinar, and Daily Futures Junctures -- the "race" to opportunity is on.