CORN: Update

This is the 3rd update for Corn. Please familiarize yourself with my previous work before continuing. Click here for details.

The Trade

Buy:  200 shares @ $47.62

Filled at 47.66

Slippage (.04)

Initial Target: $52.71 with much higher potential. 

Stop: $47.50 

Friday's price action resulted in a loss of ($22.11, inclusive) on this trade. While disappointing in the fact that the trade was not a winner for me... there is a lesson to be learned. That being KNOWING WHERE YOU ARE WRONG AND ACCEPTING A LOSS!

Many beginners fail to learn this important lesson. The following update illustrates how I managed this trade and provides the higher time frame analysis that provided the initial context for the trade.

Why The Trade ( Futures) 

BULLISH CASE

At the weekly chart level, my initial assessment remained bullish.

I received some excellent questions stating that the daily chart level looked bearish.  Let me explain. 

At the daily chart level, Corn remained bullish under the proposed count leading up to the trade. If you evaluate the body of work from each post, you'll see that the Risk/Reward for this trade, was excellent even though a bearish could could not be eliminated (see bearish case below). In fact, I'll take these types of low risk trades all day long. 

Friday's price action failed to invalidate this count. A loss of 732^4 would eliminate the w.ii termination point but only a further decline and loss of 705 negates the bullish count.

BEARISH CASE

Should prints below 705 be realized, I will adopt the following weekly wave count and ...

this count at the daily chart level. Notice that w.(1) would terminate at 687 which is also targets chart support at the open gap.

Teucrium Corn

The trade was made using an ETF, ticker symbol $CORN, as a proxy for Corn. 

As you can see, the same analysis applies.  at the daily chart level. So why did I get stopped out?

Early into Friday session I was following the 15 minute chart. My goal was to look for a 5 wave advance to confirm that w.(ii) low was in place. My entry is shown for your convenience. While price advanced, it stalled at chart resistance. An incomplete count had me looking higher. The subsequent bar that followed erased what in real-time I considered to be the third wave. That was my warning that I could be wrong and a time to take action by either:

1) Exiting the trade

2) Tightening my stop

I choose option 2 because the bullish count could not be eliminated without print below the levels cited in the above futures charts. I wanted to give the trade some room but as I stated in my previous follow up, "IF I WAS WRONG I was wrong in a big way". 

Immediately, I tightened my stop from the initial Stop of $47.50 to $47.62. Why $47.62? Because if w.(iii) up was underway, price has no business below the origin of the wave. This limited my exposure to ONLY (.06) / per 100 shares. As I said, I'll take these trades all day long! I was stopped out and price has now fallen lower bringing question to the count.

What transpires on Monday may bring some clarity to the position of Corn. Until that happens, I'll remain sidelined... looking for a clearer direction.

We'll leave it there for today and ...

Best of Trading

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ElliottwaveLive is not an investment advisory service or broker dealer. None of its contributors are registered investment advisors, licensed stock brokers or CTA's. The author may hold short term and long term positions in the futures, stocks and ETF's discussed herein. The author may also trade around those positions which may be in direct conflict with your positions. Complete trade disclosures of the contributor’s holdings are posted at www.elliottwavelive.blogspot.com. See Trader Disclosure. 

Trade at your own risk. The blog site, Newsletter and all other information, material and content accessible from this Site (collectively, the "Content")  provided herein provides the context for market analysis with respect to a market's, a security or a commodity's general position utilizing the Elliott Wave Principle. The Content contained herein are the opinion and general comments of the author and is based upon information that Mr. Sinibaldi considers reliable but neither ElliottWaveLive nor he warrants it's completeness or accuracy and it should not be relied upon as such. Mr. Sinibaldi or ElliottWaveLive (collectively, referred to as “EWL”) are not under any obligation to update or correct any content provided on this website. Any statements and or opinions are subject to change without notice. The content and comments contained herein neither purports nor intends to be, specific trading advice. It has been prepared without regard to any particular person's investment objectives, financial situation and particular needs. Information should not be considered as an offer or enticement to buy, sell or trade. 

A more and comprehensive Risk Disclaimer and Disclosure Statements is available within the left margin of this blogsite.   

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Fair Disclosure Notice: I was LONG CORN as of Friday but didn't have any position in corn futures markets related to this article. 

GreenHaven Continuos Commodity

I don't often use Gann but when I do its not because I'm thirsty. 

The monthly chart is a wave count that I have been evaluating. It's not my preferred count but is still valid, especially if I see more three wave moves (see comment below). 

The red line drawn from the lows is a true 45 degree angle which according to Gann provides support. As you can see, the Gann angle was tested in 6/2012 and price make a significant bounce. If a contracting triangle is unfolding, this angle should hold once again and will NOT be broken. If so, price should continue 3 wave rallies and 3 wave declines UNTIL cycle w.e is complete. 

Other uses of the Gann angle help locate potential turns in the market. In this example, the next major turn is where the Gann Angle meets resistance that was established by w.III circle peak. That point projected forward corresponds to 7/2017. Certainly that is far into the future but it's not to far off from some of the cyclic work that calls for the Bear market in equities to end in 2016.

Some readers may recall this chart. In each case, we have an all-in-one movement with equities leading followed closely by commodities. How this resolves is of interest to me because , as most recently, commodities are leading equities down.  Should commodities slide prove meaningful then the Gann angle in GreenHaven should break leading to  a very bearish outlook for both commodities and equities alike. 

Best of Trading

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ElliottwaveLive is not an investment advisory service or broker dealer. None of its contributors are registered investment advisors, licensed stock brokers or CTA's. The author may hold short term and long term positions in the futures, stocks and ETF's discussed herein. The author may also trade around those positions which may be in direct conflict with your positions. Complete trade disclosures of the contributor’s holdings are posted at www.elliottwavelive.blogspot.com. See Trader Disclosure. 

Trade at your own risk. The blog site, Newsletter and all other information, material and content accessible from this Site (collectively, the "Content")  provided herein provides the context for market analysis with respect to a market's, a security or a commodity's general position utilizing the Elliott Wave Principle. The Content contained herein are the opinion and general comments of the author and is based upon information that Mr. Sinibaldi considers reliable but neither ElliottWaveLive nor he warrants it's completeness or accuracy and it should not be relied upon as such. Mr. Sinibaldi or ElliottWaveLive (collectively, referred to as “EWL”) are not under any obligation to update or correct any content provided on this website. Any statements and or opinions are subject to change without notice. The content and comments contained herein neither purports nor intends to be, specific trading advice. It has been prepared without regard to any particular person's investment objectives, financial situation and particular needs. Information should not be considered as an offer or enticement to buy, sell or trade. 

A more and comprehensive Risk Disclaimer and Disclosure Statements is available within the left margin of this blogsite.   

======================================================================

Fair Disclosure Notice: I do not have a position in any of the aforementioned futures markets or securities related to this article. 

Corn : Update

We have been following the progression of price in Corn futures. If you missed my original thoughts on this market I recommend reading them before continuing. You can find that information by clicking here.


The following series of charts are of the ETF of Corn, ticker symbol CORN instead of corn futures due to the fact that I took a position right before the futures market closed and I didn't want to carry a position overnight given that futures actively trade between 6 pm - 3 pm est., (the bulk of the session while I sleep) and  the potential for further downside risk as you can see from the following charts.


My initial work called for a w.(ii) decline after the completion of w.(i). There are two possible counts for the termination of w.(i) that give rise to two possible entry points into the market. The following chart analysis is from an actual trade in CORN. I will be sharing this trade and thoughts with readers so that they can learn how I am using elliott wave.

NOTE: THIS IS NOT A TRADE RECOMMENDATION (see risk disclosure and disclaimers) before proceeding.

The following chart is my preferred wave count where w.(ii) is unfolding in a zig-zag correction. W.c = w.a @  $48.68 and terminates in the vicinity of the previous 4th wave of one lesser degree. This would be a text-book trade if my analysis is correct. Notice that the .618 retracement of w.(i) lies just below at $47.53 as well as an open gap. Both may provide support if the price continues to subdivide to the downside. 

The Trade

Buy:  200 shares @ $47.62

Filled at 47.66

Slippage (.04)

Initial Target: $52.71 with much higher potential. 

Stop: $47.50 

Nothing is perfect or guaranteed in speculating in the market and this chart shows that there is another downside target that I must account for. In this alternate count, w.(ii) unfolds in an expanded flat , as w.(i) terminates at $48.6 instead of $48.68. The w. (ii) bottom isn't expected until $47.04, where w.c = 1.618 w.a. That's certainly a deep correction but it is a valid count so long as w.(ii) doesn't exceed the origin of w.(i) at $46.85.

Under this interpretation, I would place my stop at $46.75 with the full knowledge that I'm wrong in a big way if $46.85 breaks. As such, prudent risk management calls for the actual trade under the preferred count because it offers me less initial risk and if wrong my maximum exposure is $24 + commission and slippage. 

As always, I'll continue to follow this trade so readers can see how I manage the trade. 

I hope you found this post helpful and ...

Best of Trading

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ElliottwaveLive is not an investment advisory service or broker dealer. None of its contributors are registered investment advisors, licensed stock brokers or CTA's. The author may hold short term and long term positions in the futures, stocks and ETF's discussed herein. The author may also trade around those positions which may be in direct conflict with your positions. Complete trade disclosures of the contributor’s holdings are posted at www.elliottwavelive.blogspot.com. See Trader Disclosure. 

Trade at your own risk. The blog site, Newsletter and all other information, material and content accessible from this Site (collectively, the "Content")  provided herein provides the context for market analysis with respect to a market's, a security or a commodity's general position utilizing the Elliott Wave Principle. The Content contained herein are the opinion and general comments of the author and is based upon information that Mr. Sinibaldi considers reliable but neither ElliottWaveLive nor he warrants it's completeness or accuracy and it should not be relied upon as such. Mr. Sinibaldi or ElliottWaveLive (collectively, referred to as “EWL”) are not under any obligation to update or correct any content provided on this website. Any statements and or opinions are subject to change without notice. The content and comments contained herein neither purports nor intends to be, specific trading advice. It has been prepared without regard to any particular person's investment objectives, financial situation and particular needs. Information should not be considered as an offer or enticement to buy, sell or trade. 

A more and comprehensive Risk Disclaimer and Disclosure Statements is available within the left margin of this blogsite.   

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Fair Disclosure Notice: I am LONG CORN but don't have any position in corn futures markets related to this article. 

Bonds

I am not a Bond Guru but macro events around the world have me alarmed to the point that I'm starting to cover the bond markets. When and if the FED ever stops printing, a historic opportunity awaits. 

The three charts presented represent my initial wave counts with the expectation that I will be updating them more frequently as I get a better fell of each market. 

Note: As with any initial counts, they are highly speculative and must be refined over time.  

I hope you find my coverage of this bonds valuable and welcome your feedback.

Best of Trading

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ElliottwaveLive is not an investment advisory service or broker dealer. None of its contributors are registered investment advisors, licensed stock brokers or CTA's. The author may hold short term and long term positions in the futures, stocks and ETF's discussed herein. The author may also trade around those positions which may be in direct conflict with your positions. Complete trade disclosures of the contributor’s holdings are posted at www.elliottwavelive.blogspot.com. See Trader Disclosure. 

Trade at your own risk. The blog site, Newsletter and all other information, material and content accessible from this Site (collectively, the "Content")  provided herein provides the context for market analysis with respect to a market's, a security or a commodity's general position utilizing the Elliott Wave Principle. The Content contained herein are the opinion and general comments of the author and is based upon information that Mr. Sinibaldi considers reliable but neither ElliottWaveLive nor he warrants it's completeness or accuracy and it should not be relied upon as such. Mr. Sinibaldi or ElliottWaveLive (collectively, referred to as “EWL”) are not under any obligation to update or correct any content provided on this website. Any statements and or opinions are subject to change without notice. The content and comments contained herein neither purports nor intends to be, specific trading advice. It has been prepared without regard to any particular person's investment objectives, financial situation and particular needs. Information should not be considered as an offer or enticement to buy, sell or trade. 

A more and comprehensive Risk Disclaimer and Disclosure Statements is available within the left margin of this blogsite.   

======================================================================

Fair Disclosure Notice: I do not have a position in any of the aforementioned futures markets or securities related to this article. 

An Initial Look into Facebook

Like a marriage, sometimes it sours! If ever there was a perfect analogy, Facebook would be it. Since it's botched IPO, the marriage between investors, analysts and Facebook stock has soured. 

The stock has been beaten... taken out to the woodshed and spanked. Not even Rocky could with stand this kind of beat down YET FB posted earnings that Wall Street (those who pummeled the issue)loved and now WS makes a peace offering by pushing the stock up +30% since the week ending 10/19/2012. 

How It May End

While I will not attempt to label this chart until a clear pattern has ended, we can count on one rule of the elliott wave principle to guide us. If the decline from 5/18/2012 is impulsive... wave overlap can't occur before reaching the termination of a five wave sequence to the downside. Therefore, the key level is $25.52. Should price print above this level, then the decline from $45 to $17.55 is in three waves. 

Should this event not occur, then odds are that today's earnings excitement will be met with further selling that leads to further loss of market cap.  OUCH!!!

Best of Trading

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ElliottwaveLive is not an investment advisory service or broker dealer. None of its contributors are registered investment advisors, licensed stock brokers or CTA's. The author may hold short term and long term positions in the futures, stocks and ETF's discussed herein. The author may also trade around those positions which may be in direct conflict with your positions. Complete trade disclosures of the contributor’s holdings are posted at www.elliottwavelive.blogspot.com. See Trader Disclosure. 

Trade at your own risk. The blog site, Newsletter and all other information, material and content accessible from this Site (collectively, the "Content")  provided herein provides the context for market analysis with respect to a market's, a security or a commodity's general position utilizing the Elliott Wave Principle. The Content contained herein are the opinion and general comments of the author and is based upon information that Mr. Sinibaldi considers reliable but neither ElliottWaveLive nor he warrants it's completeness or accuracy and it should not be relied upon as such. Mr. Sinibaldi or ElliottWaveLive (collectively, referred to as “EWL”) are not under any obligation to update or correct any content provided on this website. Any statements and or opinions are subject to change without notice. The content and comments contained herein neither purports nor intends to be, specific trading advice. It has been prepared without regard to any particular person's investment objectives, financial situation and particular needs. Information should not be considered as an offer or enticement to buy, sell or trade. 

A more and comprehensive Risk Disclaimer and Disclosure Statements is available within the left margin of this blogsite.   

======================================================================

Fair Disclosure Notice: I do not have a position in any of the aforementioned futures markets or securities related to this article. 

ES COT Data

On 8/2/2012 I alerted readers of the fact that Commercials were short this market and what groups were wrong at obvious turning points. You can read the original post here . It's clear from the updated chart that they have been liquidating long positions while the Koolaid is still being served to speculators.  

Best of Trading

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ElliottwaveLive is not an investment advisory service or broker dealer. None of its contributors are registered investment advisors, licensed stock brokers or CTA's. The author may hold short term and long term positions in the futures, stocks and ETF's discussed herein. The author may also trade around those positions which may be in direct conflict with your positions. Complete trade disclosures of the contributor’s holdings are posted at www.elliottwavelive.blogspot.com. See Trader Disclosure. 

Trade at your own risk. The blog site, Newsletter and all other information, material and content accessible from this Site (collectively, the "Content")  provided herein provides the context for market analysis with respect to a market's, a security or a commodity's general position utilizing the Elliott Wave Principle. The Content contained herein are the opinion and general comments of the author and is based upon information that Mr. Sinibaldi considers reliable but neither ElliottWaveLive nor he warrants it's completeness or accuracy and it should not be relied upon as such. Mr. Sinibaldi or ElliottWaveLive (collectively, referred to as “EWL”) are not under any obligation to update or correct any content provided on this website. Any statements and or opinions are subject to change without notice. The content and comments contained herein neither purports nor intends to be, specific trading advice. It has been prepared without regard to any particular person's investment objectives, financial situation and particular needs. Information should not be considered as an offer or enticement to buy, sell or trade. 

A more and comprehensive Risk Disclaimer and Disclosure Statements is available within the left margin of this blogsite.   

======================================================================

Fair Disclosure Notice: I do not have a position in any of the aforementioned futures markets or securities related to this article. 

ES Update

The following chart depicts a possible count for the continuation of the move that began on 10/18/2012. Typical Elliott project for w.v = .618 {w.i - w.iii circles} @ 1407.25 or w.v circle = w.i circle @ 1419.25

Two keys to knowing whether the market will extend in a final 5th wave as indicated will be :

1. A print below 1424.25 would bolster this count.

2. The initial decline from w. iv circle crest (1431.25) MUST be in 5 waves when viewing lower time frames! 

Let's see how this develops.

Best of Trading

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ElliottwaveLive is not an investment advisory service or broker dealer. None of its contributors are registered investment advisors, licensed stock brokers or CTA's. The author may hold short term and long term positions in the futures, stocks and ETF's discussed herein. The author may also trade around those positions which may be in direct conflict with your positions. Complete trade disclosures of the contributor’s holdings are posted at www.elliottwavelive.blogspot.com. See Trader Disclosure. 

Trade at your own risk. The blog site, Newsletter and all other information, material and content accessible from this Site (collectively, the "Content")  provided herein provides the context for market analysis with respect to a market's, a security or a commodity's general position utilizing the Elliott Wave Principle. The Content contained herein are the opinion and general comments of the author and is based upon information that Mr. Sinibaldi considers reliable but neither ElliottWaveLive nor he warrants it's completeness or accuracy and it should not be relied upon as such. Mr. Sinibaldi or ElliottWaveLive (collectively, referred to as “EWL”) are not under any obligation to update or correct any content provided on this website. Any statements and or opinions are subject to change without notice. The content and comments contained herein neither purports nor intends to be, specific trading advice. It has been prepared without regard to any particular person's investment objectives, financial situation and particular needs. Information should not be considered as an offer or enticement to buy, sell or trade. 

A more and comprehensive Risk Disclaimer and Disclosure Statements is available within the left margin of this blogsite.   

======================================================================

Fair Disclosure Notice: I do not have a position in any of the aforementioned futures markets or securities related to this article. 

ES : Update

If the move from  is developing in a five wave decline and w.iii circle is the extended wave then the following should provide the structure that an elliottician would expect with regard to further price development to the downside. 

Note: target levels haven't been calculated 

Best of Trading

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ElliottwaveLive is not an investment advisory service or broker dealer. None of its contributors are registered investment advisors, licensed stock brokers or CTA's. The author may hold short term and long term positions in the futures, stocks and ETF's discussed herein. The author may also trade around those positions which may be in direct conflict with your positions. Complete trade disclosures of the contributor’s holdings are posted at www.elliottwavelive.blogspot.com. See Trader Disclosure. 

Trade at your own risk. The blog site, Newsletter and all other information, material and content accessible from this Site (collectively, the "Content")  provided herein provides the context for market analysis with respect to a market's, a security or a commodity's general position utilizing the Elliott Wave Principle. The Content contained herein are the opinion and general comments of the author and is based upon information that Mr. Sinibaldi considers reliable but neither ElliottWaveLive nor he warrants it's completeness or accuracy and it should not be relied upon as such. Mr. Sinibaldi or ElliottWaveLive (collectively, referred to as “EWL”) are not under any obligation to update or correct any content provided on this website. Any statements and or opinions are subject to change without notice. The content and comments contained herein neither purports nor intends to be, specific trading advice. It has been prepared without regard to any particular person's investment objectives, financial situation and particular needs. Information should not be considered as an offer or enticement to buy, sell or trade. 

A more and comprehensive Risk Disclaimer and Disclosure Statements is available within the left margin of this blogsite.   

======================================================================

Fair Disclosure Notice: I do not have a position in any of the aforementioned futures markets or securities related to this article. 

Illustration of RSI Patterns

Using indicators to confirm my wave count is an integral part of my trading arsenal. The wave count has been removed from this chart.  

There are many ways I use RSI and other momentum indicators in my work; therefore, I briefly want to touch upon the subject and not get into a full blown account of how to use RSI. I'll save that for another day.

Drawing your attention to the RSI indicator which is made up of the standard setting and a 9-period sma. I've drawn in trendlines which in this case provides me with an objective way to measure oscillator resistance against a maturing wave count. 

As you can see by this chart, price and RSI resistance came together at the most recent high.  The decline in price from 13523 has drawn RSI to the lower level of bullish support (40) , and trendline support. If it breaks its bearish. 

As an exercise, label the chart and see how RSI can assist you in building a case for your wave counts.

Best of Trading

Gold Cyclic Turns

Gold makes cyclic turns every 11 and 22 months and although this monthly chart only dates to 1998, its a worthwhile study to go further back in history to see how well this cyclic behavior has held up. 

Best of Trading

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ElliottwaveLive is not an investment advisory service or broker dealer. None of its contributors are registered investment advisors, licensed stock brokers or CTA's. The author may hold short term and long term positions in the futures, stocks and ETF's discussed herein. The author may also trade around those positions which may be in direct conflict with your positions. Complete trade disclosures of the contributor’s holdings are posted at www.elliottwavelive.blogspot.com. See Trader Disclosure. 

Trade at your own risk. The blog site, Newsletter and all other information, material and content accessible from this Site (collectively, the "Content")  provided herein provides the context for market analysis with respect to a market's, a security or a commodity's general position utilizing the Elliott Wave Principle. The Content contained herein are the opinion and general comments of the author and is based upon information that Mr. Sinibaldi considers reliable but neither ElliottWaveLive nor he warrants it's completeness or accuracy and it should not be relied upon as such. Mr. Sinibaldi or ElliottWaveLive (collectively, referred to as “EWL”) are not under any obligation to update or correct any content provided on this website. Any statements and or opinions are subject to change without notice. The content and comments contained herein neither purports nor intends to be, specific trading advice. It has been prepared without regard to any particular person's investment objectives, financial situation and particular needs. Information should not be considered as an offer or enticement to buy, sell or trade. 

A more and comprehensive Risk Disclaimer and Disclosure Statements is available within the left margin of this blogsite.   

======================================================================

Fair Disclosure Notice: I do not have a position in any of the aforementioned futures markets or securities related to this article. 

Corn May Be Ripe For Picking: Follow the Trade

Corn Set Up May Be Ripe For Pickings....

I've been following the impulsive move in corn for awhile and I believe that corn is nearing a position where a possible trade setup is developing. This set up comes on the heals of my previous work featured here and in my opinion may be one of high reward / low risk.

Note: The following work was completed last evening so there may be some progression in price that differs from these time stamped charts. 

Since I intend to take an actual position in the ETF, ticker CORN, rather than the futures contract, readers will have to use this blog post as a guide when labeling their CORN charts. 

Over the next few weeks, periodic updates will be made so that readers can learn how I'm actively using elliott wave in real time with regard to order entry, risk management and taking profit. It should provide an excellent learning experience!

The Analysis

At the weekly chart level, Corn is advancing impulsively in five waves, of which w. (5) is underway and  mature in the fact that only w.5 red is needed to complete the move before a meaningful top is in place.

A typical elliott wave Fibonacci target for a w.5 = .618 {w.1 - w.3} at 914^4

Turning to the daily chart level, I've labeled the subdivisions of w. 4 and waves w.i and w.ii circle of w. 5 appear to be complete. Should my analysis be correct, price progression should follow the general outline provided which becomes my trade plan for this market. 

The Set Up

Dropping to the 4 hr chart, my trade plan shown at the daily chart level now includes the internal subdivisions of the w.iii circle advance. 

In order for me to consider risking my money, I'm looking for an entry that limits and clearly defines my risk while maximizes my reward. 

Pre-Trade Conditions: 

1. Corn must sketch out the remainder of w.(i) without any overlap of 745^2 (w.i extreme). In doing so, a five wave advance occurs that doesn't break the rules for impulsive waves. 

2. According to Elliott, an actionary or trend wave (5 wave move) is followed by a reactionary wave that develops in 3 waves, therefore a w.(ii) counter trend move should occur. This corrective move CANNOT print below 732^4 or the count becomes invalid.

3. Ideally, the depth of the retracement of w.(i) will not go beyond .618 w.(i) which will be calculated after the w.(i) advance has terminated. 

We'll leave it there for now. My next post in this series will review that the pre-trade conditions were met;  describe w.(ii) in further detail and set forth the conditions of the actual trade. 

Until then.....

Best of Trading

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ElliottwaveLive is not an investment advisory service or broker dealer. None of its contributors are registered investment advisors, licensed stock brokers or CTA's. The author may hold short term and long term positions in the futures, stocks and ETF's discussed herein. The author may also trade around those positions which may be in direct conflict with your positions. Complete trade disclosures of the contributor’s holdings are posted at www.elliottwavelive.blogspot.com. See Trader Disclosure. 

Trade at your own risk. The blog site, Newsletter and all other information, material and content accessible from this Site (collectively, the "Content")  provided herein provides the context for market analysis with respect to a market's, a security or a commodity's general position utilizing the Elliott Wave Principle. The Content contained herein are the opinion and general comments of the author and is based upon information that Mr. Sinibaldi considers reliable but neither ElliottWaveLive nor he warrants it's completeness or accuracy and it should not be relied upon as such. Mr. Sinibaldi or ElliottWaveLive (collectively, referred to as “EWL”) are not under any obligation to update or correct any content provided on this website. Any statements and or opinions are subject to change without notice. The content and comments contained herein neither purports nor intends to be, specific trading advice. It has been prepared without regard to any particular person's investment objectives, financial situation and particular needs. Information should not be considered as an offer or enticement to buy, sell or trade. 

A more and comprehensive Risk Disclaimer and Disclosure Statements is available within the left margin of this blogsite.   

======================================================================

Fair Disclosure Notice: I do not have a position in any of the aforementioned futures markets or securities related to this article.