Is the move up that began on Friday a final acceleration to the 1330 area mentioned here couple of times? Or is it a start of something even bigger to the upside to finally convince everybody that this thing is never ever going to drop again? We'll have to wait to know the answer to this question. My personal opinion is closer to the second alternative, but of course I might be wrong. Some people say that the drop from May 2008 to the final 2009 bottom was an extended 5th wave. Such waves are usually fully retraced, and in such case the upper ML of the recent set needs to be met:

Cotton is really on the move. Another all-time high, lock limit up, well over 200. Crazy as this sounds, it doesn't look like a blowoff move to me, it looks like cotton is signaling what is to come, in both itself and the rest of the comms. Just a thought. Hopefully, it is the final climax and it's done...

careful here.. a patern i have not seen in a while is present.

In cotton, roofer (via BAL, perhaps?), or in the broader market?

Originally posted by jimkane

Cotton is really on the move. Another all-time high, lock limit up, well over 200. Crazy as this sounds, it doesn't look like a blowoff move to me, it looks like cotton is signaling what is to come, in both itself and the rest of the comms. Just a thought. Hopefully, it is the final climax and it's done...

In my opinion this is because there are less and less valves left for hoards of banks' free money hunting for profit. I would not be surprised if they were "instructed" to "spare" sensitive commodities like food for example. Who in the world cares how much is cotton? Apparel prices were detached from its price long time ago...

Just 1 point reaction at resistance line aided by 1.272 of the ABCD tells the whole story:




At current pace they would reach my line confluence at 1345 still today

general market... if they take it down very sharply here in the next hour.. it would set up a VERY BULLISH pattern

it would have to be 100 dow points by 330

Hmmm, honestly, I can't see this checking back more than a few ES points here and there... Even though it is at another extreme. I'd love it if they could do it, but I rather suspect a slow grind up until close. Here's hoping it can do it, to set us up nicely.

Okay, for the first time right here it has a little bit of a look like it could check back some. They need to get on it, or it could roll a bit. If it starts to roll, watch at the ABCD level for clues.

But, anything except another new high would really surprise me...

rat 89 will remember this one....it is a rare day when i will short into oversold.... but the pattern repeats over and over.....rapids and waterfall... the key is the flattening right before price goes..under the cover of opex, the computers were using the patterns to get price to the correct strike.... something else.... i feel a wave four triangle of some degree just ahead... the down in many stocks can be seen as the ab leg of abcd's that i think the c will setup just as the triangle leg is set to go....