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Elliott Wave Forecast Nails a Top in Soybeans: DO Try This At Home
EWI's May 16 Daily Futures Junctures shows you whether the hard sell-off in soybeans is here to stay

By Nico Isaac
Thu, 17 May 2012 16:45:00 ET
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For Elliott wave analysts, 5 is the magic number.

The 5-wave structure (idealized version shown below) is one of the bedrocks of this market-forecasting method. Its rules and guidelines help you determine the depth and duration of developing waves. If you stay its course, the 5-wave form will lead you, like a hound dog leads a hunter, straight to opportunity.
 
Let's take the recent performance in soybeans for a real-world example.
 
In the May 3 Daily Futures Junctures, EWI's chief commodity analyst Jeffrey Kennedy identified the final 3 legs of a larger 5-wave rally from the December 2011 low on the chart below. Here, Jeffrey's rulebook opened right to the page titled "What happens after a 5-wave move is complete" and read:
           
            "A finished trend of 5 waves is followed by a 3-wave correction in the opposite direction."
 
With that simple guide, Jeffrey's confidence in this near-term scenario was set: "We can count 5 waves up and done, which would be exceptionally bearish for this market; i.e. a sell off" to much lower levels. Here's the chart Jeffrey showed subscribers on May 3:
 
 
 
 
And here's a chart that shows how soybean prices hit Jeffrey's initial downside price target before rebounding.
 
 
 
 
For futures traders right now the question is whether the early May decline in soybeans is a brief detour on the way to higher highs.
 
And, in the new, May 16 Daily Futures Junctures video + written analysis of soybeans, you get a clear answer to that question.
 
Don't let the near-term opportunities in commodities pass you by. Subscribe risk-free to Daily Futures Junctures today for instant online access.
 
Or -- Upgrade to the complete, Futures Junctures Service package via the easy steps below.
 
 
Want to see what big moves are in store for commodities? See them now -- RISK-FREE for 30 days
 
PLUS, get the best short-term commodity opportunities from an Elliott wave expert -- 5 days a week
 
Futures Junctures editor Jeffrey Kennedy is your personal opportunity scout as he searches the world's leading commodity markets and serves up his best picks 5 days a week.
 
You get in-depth commodity analysis, daily video forecasts for up to 18 different commodities, plus Elliott wave trading lessons to help put your knowledge into action. 

"A concise, daily, audio-visual information barrage. Absolutely the BEST value anywhere."
- Tom P.
 

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