Monday - Bean oil, T-Bonds, S&P, Dow Jones, Canadian dollar, British pound, Cotton
Wednesday - RBOB gas, Heating oil
Thursday - Corn, Dollar index, Eurocurrency
TheÂ June Eurocurrency posted pivot highs of the April 15 and May 3rd reversal swing dates. Both dates marked the end of the corrective bounce and triggered a bearish reversal, followed by a lower market. The euro also posted a 570 point rally, during the two session following the May 6th reversal date. Since then, the euro has dropped to a new low and reached the up-sloping reaction line target objective,on the May 19thÂ reversal date. The marketÂ has completed a full cycle, with time and price coming together on May 19th. The euro rebounded off the reaction line suggesting the downward pressure may be over soon and could set up a possible bullish reversal pattern. For undated trade signals check out theÂ TMV Swing Trade report.
Twenty days after posting a highÂ near the April 21st reversal date, July Soybeans reached the up-sloping reaction target line. The daily low of $9.31Â tested the reaction line before finding support and rebounding to unchanged. ThisÂ completes the five-wave cycle as the Soybeans reach the target objectiveâ€“projected two weeks in advanceâ€“on the projected reversal date. While the long-term trend is still bearish, the short-term cycle suggests a possible corrective rebound from this level. Iâ€™ll have current updates in the TMV Swing Trade report.
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The Canadian dollar formed a bearish TR swing pattern after posting a major high on the April 22nd reversal date andÂ turned lower in front of the May 6th meltdown and subsequent drop to 9293. The â€œloonieâ€ rebounded from the low and traded higher into the May 12th reversal swing date, closed inside the 60% sell window and tested the 20- day SMA. This price action formed a potential bearish TC pattern with trigger price below the price bar that entered the 60% sell window and triggered the sell when the market passed through .9717.Â Â This is just one example of the potential provided by understanding â€œaction-reactionâ€ price action in conjunction with the reversal date trading technique. Â UsingÂ the â€œaction-reactionâ€ time/price projection methodologyÂ I was able toÂ identifyÂ a majorÂ reversalÂ timing on April 22, followed by the high of the corrective rebound on May 12â€¦days in advance.
Monday â€“ Hogs, Corn, Soybeans, Gold, Eurocurrency, Australian dollar, Cocoa, Swiss franc
Wednesday â€“ Soy meal, Silver, Eurocurrency
Thursday â€“ Soybeans, Bean oil, Treasury bonds
Friday â€“ Japanese yen, Cotton, Coffee
Monday â€“ Treasury Notes
Tuesday â€“ Treasury Bonds, Dow Jones
Wednesday â€“ Corn, Wheat, Canadian dollar, British pound, Australian dollar
Thursday â€“ Eurocurrency
Friday â€“ Dollar index, Cocoa, Coffee
For more information about Reversal swing dates and the â€œaction-reactionâ€ theory check out â€œUnlocking Wealth, Secret to Market Timingâ€.
The reverse-forward count, fromÂ the TR swing pattern (March 17 â€“ April 4), was used toÂ project a future reversal swing date on May 6th. The â€œaction-reactionâ€ line also forecast a price target objective at the intersectionÂ of theÂ down-sloping median line and the up-sloping reaction line (8920). The Swiss francÂ Â breached the target objective on the predicted date and quickly reversed and surged higher.Â You can also learnÂ to useÂ the â€œaction-reactionâ€ methodology used to make this type of time and price projections in â€œUnlocking Wealth, Secret to Market Timing.