EQUITY - The short term model deteriorated some today, primarily because of the thinness of the rally. While it was constructive that the market moved up today, I am starting to see signs that this rally is petering out. Look for one more thrust up before the intermediate term correction sets in.
CORN - Had a nice rally today from its deeply oversold levels. I would not be surprised to see Corn rally all the way back to 3.96 before the decline continues. The intermediate term trend remains down for the grains. CAN YOU SEE HOW I GOT THE UPSIDE TARGET FOR CORN?
Cocoa - Second day of the rally after the Monday slaughter. This rally phase looks to be complete. Look for cocoa to continue its decline from current levels. This will help to confirm that the intermediate trend has truly shifted to down.
10 Year T-Note - Still in Doubt Go Without.
CHCI - Continues its decline and is having a very hard time finding a bottom. I will let the stock tell me when it is clear to enter and that time is not now.
USU - Another nice rally today in USU. USEC Corp. typically follows the pattern of the general market, so with the potential short term trend change possible I have to look for a decline in USU as well. This possible decline in USU will have intermediate term implications which would bring the price back to the $14 area.
GM - I anticipate GM to hold up well if the market reverses course here. I continue to support the theory that GM is in the Second up leg on its long term journey from below $20.
CORN - Had a nice rally today from its deeply oversold levels. I would not be surprised to see Corn rally all the way back to 3.96 before the decline continues. The intermediate term trend remains down for the grains. CAN YOU SEE HOW I GOT THE UPSIDE TARGET FOR CORN?
Cocoa - Second day of the rally after the Monday slaughter. This rally phase looks to be complete. Look for cocoa to continue its decline from current levels. This will help to confirm that the intermediate trend has truly shifted to down.
10 Year T-Note - Still in Doubt Go Without.
CHCI - Continues its decline and is having a very hard time finding a bottom. I will let the stock tell me when it is clear to enter and that time is not now.
USU - Another nice rally today in USU. USEC Corp. typically follows the pattern of the general market, so with the potential short term trend change possible I have to look for a decline in USU as well. This possible decline in USU will have intermediate term implications which would bring the price back to the $14 area.
GM - I anticipate GM to hold up well if the market reverses course here. I continue to support the theory that GM is in the Second up leg on its long term journey from below $20.
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