The Week of Aug. 6, 2017
This week will see a complete bottom of the Dollar. I believe the Fed will possibly consider raising rates one last time for the forseeable future. The Dollar remains sideways to down and it will continue to be in this sideways range for a while. It is a good time to be long the USD Index and the USD/CHF along with the USD/JPY and short the EUR/USD.
Grains and other commodities are bottoming at the same time. I am looking at Soya Beans in Particular to rocket up from somewhere in this area. It may happen this week or the next but I suspect it will happen. You can use the chart below for your reference points. You know by now how powerful my areas are so use them as a guide. This is a good five to one play on soya beans. If I am wrong you don't lose much but if I am right well, you are going to do well. I think this is the third leg up in the wave count but you know what I think of all that shacko babble with Elliot Wave. However like anything else it gives you an entry point.
You should look for Treasuries to head sideways to down or up depending on what you are looking at. In other words as the Dollar rises again Treasuries will likely do the opposite. If you are thinking of a bear renewal of the long term bond market well this would be the area to take the risk on that. I don't think that this is the case but here is the area I would consider shorting bonds globally if I were in such a state of mind. This is where the risk is lowest.
Stocks should move sideways to down from here. I would not short the market until I was sure but if you are going to level a short well then this area might be a good play. If you have been carrying a lot of stocks riding the bull wave I would consider taking some profits at this point. You may be sorry if you don't.
Is this the big crash? No. Just a correction possibly of sorts.
What you want to do is identify the least amount of risk in markets to trade. Stocks are not one of them at the moment because they are still in bull markets. It is all about timing my friends. If you have been riding the bull in Gold it might be a good time to take some profits too. I see a lengthy pull back in Gold before resuming its up trend. If it is going to fall this would be the area so once again a short may be in store.
Grains and other commodities are bottoming at the same time. I am looking at Soya Beans in Particular to rocket up from somewhere in this area. It may happen this week or the next but I suspect it will happen. You can use the chart below for your reference points. You know by now how powerful my areas are so use them as a guide. This is a good five to one play on soya beans. If I am wrong you don't lose much but if I am right well, you are going to do well. I think this is the third leg up in the wave count but you know what I think of all that shacko babble with Elliot Wave. However like anything else it gives you an entry point.
You should look for Treasuries to head sideways to down or up depending on what you are looking at. In other words as the Dollar rises again Treasuries will likely do the opposite. If you are thinking of a bear renewal of the long term bond market well this would be the area to take the risk on that. I don't think that this is the case but here is the area I would consider shorting bonds globally if I were in such a state of mind. This is where the risk is lowest.
Stocks should move sideways to down from here. I would not short the market until I was sure but if you are going to level a short well then this area might be a good play. If you have been carrying a lot of stocks riding the bull wave I would consider taking some profits at this point. You may be sorry if you don't.
Is this the big crash? No. Just a correction possibly of sorts.
What you want to do is identify the least amount of risk in markets to trade. Stocks are not one of them at the moment because they are still in bull markets. It is all about timing my friends. If you have been riding the bull in Gold it might be a good time to take some profits too. I see a lengthy pull back in Gold before resuming its up trend. If it is going to fall this would be the area so once again a short may be in store.
No comments:
Post a Comment