The ACD Method

King lets give it a few weeks...either we are above the 148 handle or below. I say there is a very high probability that we are below. I think we could go into the technical targets at 142-143 in the next month!

 

I agree 143 is a good target if the pattern plays, es will be trading much higher obviously.

 

Funny, I was looking at the right shoulder there as the H&S, thinking, huh, there's a little H&S there. Thanks for exposing the bigger picture here Shan!

 

Corn up over 6% today. Wheat up 4%. Soybeans up 3%.

 

Whoops, S took a bit of a spill today. Down 5%.

Basically failed at the ATR A up at 3.25.

 

Feels a little like the market has a hangover today... Something odd, SBUX failed it's A down, but coffee is actually up today. Given how SBUX is doing I would have figured something would have to be helping it out.

Also, XRT looks better than others here too. While most ran for the A down out of the OR today, XRT ran for the A up.

 

Gold doing nicely here. The weekly levels are 1591.50 and 1551.70.

 

Silver bounced off the monthly A down this morning. Actual low was 26.51 and the A level was 26.24. Of course the month is just about over.

 

Copper futures actually in the green today and made an A up. Go figure.

 

Yeah, just missed this one, but GLD set up the best today out of everything I'm seeing. Somewhat surprised by this given the recent action there.