Brandon

I debated whether or not to draw in the waves and perhaps I’ll tailor a special post with them.

Wave 1 ended in August near 380.
2 ended at the 2nd red arrow at 400.
3 is an extended wave that ended (perhaps) in December at 210 and now we’re perhaps in the 4th wave up. The “Third of three” was an extended ‘thrust’ as well.

I like your long-term perspective. I often miss that while trading short-term. It’s a significant break of a valid trendline and you’re right to note its significance.

I’d be careful about shorting most commodities or related ETFs here. We’re overdue for a rally, so use the rally to ‘get short’ if need be but it seems the risk now is to the short side and odds favor higher prices at least short-term. All could change quickly though.

Thank you for such a great site with great technical analysis information.

The question that I have with the CRB index above is what do you use as a count to Wave 3?

Brandon

-Tahir

I did put on some small short plays today. I’m expecting a small pullback, but you can see that the market has a pretty strong underlying bid lately. I won’t be greedy by any means.