400 years ago today, on August 25, 1609, the famous astronomer Galileo Galilei debuted his very first telescope to the world. Through the lens of his invention, the infinite, once invisible wonders of the night sky were revealed.
From Galileo to Elliott Wave Internationals' chief commodity analyst Jeffrey Kennedy comes the brand-new August 2009 Monthly Futures Junctures. In this "star"tling publication, Jeffrey uses his objective "lens" to prove that opportunity lives strong and well on many commodity planets.
First up is Monthly Futures Junctures' (MFJ, for short) "Featured" market segment. Here, Jeffrey observes not one, but two bright spots orbiting major turning points: Cocoa and Cotton. With four pages and five compelling price charts, Jeffrey reveals that his favorite pattern of all, the "diagonal triangle" is underway in both markets. In Jeffrey's own words: The diagonal is like a "flashing light" that says, "Swift and sizable move in the making."
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: From their early August peak, coffee prices have cooled to a fresh, four-week low. And, according to the experts, "There is no fresh, market-moving fundamental news," to provide direction. One look at MFJ's snapshots, however, and the "news" front couldn't be more exciting: The most powerful of all wave patterns, a third-of-a-third impulse, seems nigh.
Orange Juice: The June '09 MFJ saw OJ's losing streak set to end and drew a bold UP arrow toward the 100 level. Then, the July '09 MFJ foresaw the rally continuing even higher to above 110 before turning down. And -- that's exactly what happened. Now, MFJ shows whether the recent peak will keep for long.
Grains' Galaxy:
- 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.
The August MFJ shows where the downtrend could end.
Sugar: Can you say, "SWEET!?" Sugar prices recently surged to their highest level in 30 years; that's 3-0. As for the market's next move -- the experts are mixed. "Sugar Slithers But Bulls In Charge," writes one news source. "Sugar Consolidates; Bullishness Already Priced In" counters another.
The August MFJ sets the record straight.
Lean Hogs: The May '09 MFJ "Feature" on hogs wrote: "A highly reliable traditional technical chart pattern [the head-and-shoulders] calls for continuing decline... into the 47.00 area." Flash ahead to today and the sharp sell-off into that exact region speaks for itself...
Believe it or not, we're only just getting started. The August Monthly Futures Junctures includes labeled price charts for SIX other market "stars" -- not to mention a riveting "Trader's Classroom" selection on the THREE most critical trading mistakes of money management.