Sep Rough Rice has formed both the #1 and #2 top points. I’m still watching to see whether the remaining criteria of the 1-2-3 strategy are met.
Dec Soybean Meal has formed a #1 top point and a #2 point. The next step is to watch for a possible #3 point to develop. I'm still monitoring this potential setup.
Aug Gold broke out of its triangle pattern, but the breakout came to the upside. Since this was a bearish flat-bottom triangle, I’m going to watch this market from the sidelines for now rather than chase a move that went against the expected direction of the pattern.
Sep 10-Year T-Note has developed a potential #1 bottom point. I’ll continue watching this market to see if the remaining criteria of the 1-2-3 strategy are met.
Last week, I pointed out this stock and the potential MET trigger that was setting up. The entry was triggered on August 4, but price immediately began moving lower. Then, on August 6, price gapped down, which should have taken traders out of any MET long positions.
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