CommodityTrends Weekly Newsletter

Jul Rough Rice produced a #1 top point at 14.725, which was the high from June 24. From there, price moved through the #2 point without forming a #3 point, so the setup did not fully develop.

In addition, First Notice Day is June 30, so I am going to stop watching this market for now. If another setup materializes, I will bring it back to the watchlist.

To allow more time for a formation to develop, I've switched from watching Jul Soybean Oil and I'm now watching Dec Soybean Oil. It has a #1 top point at 74.55 (the high on June 03). Keep watching for all of the 1-2-3 strategy criteria are met.

Jul Coffee triggered an MET to the downside on June 01. The initial target was hit on June 04. 

Last week I wrote: ". . . protective stops (for any additional positions) should be moved to just above the June 04 high."

Had the stop been moved to just above the June 04 high, it would have been triggered on June 11.

The market didn't move a huge distance, but this was still a very nice opportunity.

Last week I wrote: "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."

The entry was triggered on June 08. The initial target was hit on June 09. Had the stop loss on any additional positions been moved to entry, they would have been triggered on June 11.

I'll stop watching this stock for now.

Stubhub Holdings Inc Cl A (STUB) just triggered an MET entry to the upside. That said, any retracement to the weekly chart support at 10.80 (within the next 3-5 candlesticks), will provide another long entry opportunity. Keep watching. 

If filled, initial stop loss can be placed just below recent lows. The initial target is the daily chart resistance level at 12.56.