Jul Rough Rice has produced a #1 top point at 14.725 (the high on June 24). The #2 point is 12.310 (the low on June 4). Keep watching for all of the 1-2-3 strategy criteria are met.
Jul Soybean Oil has a #1 top point at 79.69 (the high on June 01). Keep watching for all of the 1-2-3 strategy criteria are met. Â
Sep 30-Year T-Bond has developed a #1 bottom point at 108-31 (the low on May 20) inside a weekly chart support zone. The #2 point is 112-30 (the high on June 02). Keep watching for all of the 1-2-3 strategy criteria are met.Â
Last week I wrote. . . "Jul Coffee is on the verge of triggering an MET to the downside. Keep watching."
The entry was indeed triggered on June 01. Price has since dropped to near the bottom of the weekly chart support zone. At this point, since price tested the bottom of the zone, protective stops should be moved to just above the June 04 high.
Intuitive Machines Inc (LUNR) Triggered an MET entry to the upside and then ran over $8.00 a share higher before reversing. As mentioned last week, stops should have been trailed below support -- ideally no lower than at entry -- after the May 28 spike higher. I'll stop watching this stock for now.
Quantum Computing Inc (QUBT) has turned the corner to the downside prior to triggering an MET to the upside. I'll stop watchng this stock for now.
Alaska Air Group (ALK) broke above the #2 point last week. In th previous issue I mentioned. . . "An entry can still be established just above the #2 point. Stops can be placed just below the red dashed support line (below the gap), which is at 41.90. The initial target is the Weekly chart 50% level (gold dashed-doted line) at 54.41."
The June 01 trading session saw price gap lower and move down through the week. In the process stops should have been triggered.
Almonty Industries Inc (ALM) is on the verge of triggering an MET entry to the downside. If filled, stops can be placed above recent highs. The initial target is the top of the weekly chart support zone near 15.00. Keep watching.
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