Soybeans, Corn & Wheat Confirming May ’18 Cycle Peaks.
Soybeans, Corn & Wheat Confirming May ’18 Cycle Peaks.
06/20/18 Weekly Re-Lay Alert:
“Soybeans, Corn & Wheat have dropped sharply after reversing lower in line with multiple weekly cycles (and the weekly LHR indicator in Soybeans) that projected final rallies into late-May/early-June.
From a longer-term perspective, these grains fulfilled projections for substantial advances in the first half of 2018 – leading into June 2018 when cycles would turn back down. Soybeans led that reversal, turning their weekly trend down on May 11 and then projecting a quick, 1 – 2 week bounce before a more substantial decline into late-July.
That remains the case and the grains remain weak, with Soybeans & Corn plummeting as they powerfully reinforce this bearish period. Wheat is the only one to maintain some minor semblance of resilience and would not turn its intra-year trend neutral (from up) until a weekly close below 460.0/WN.”
Grain markets have fulfilled ongoing analysis for a multi-quarter peak to take hold in the middle third of 2018 – coinciding with 1 – 2 year cycle highs that ushered in the recent peaks in late-May 2018. Since then, they have been projecting an overall decline into late-July 2018. This developing peak provides powerful corroboration to what has been forecast for 2019 & 2020 – a time when unique and potentially explosive cycles collide, particularly in Soybeans. See Weekly Re-Lay & INSIIDE Track for additional analysis and/or trading strategies.