Although corn prices rose strongly, Jan Feeder Cattle held firm to keep Elliot Wave still in play. Seeing the structure of corn locked in a wedge, and a lot of corn still out there, we may see Feeders rise tomorrow. Previous incarnations of a Bearish cross showed upside possibilities. Gartely still possible to 132.675
Jan Feeder Cattle made a double top reversal today. Possible continued down action. If Feeders regain up side momentum and make triple top, all bets are off.
In October 2014 I called the top almost to the cent (see the link below). The decline from 244.80 is finally coming to an end near 130.78. Short term I'm looking for the final decline in red wave v of an ending diagonal and once the bottom is in place, a quick return to the origin of the ending diagonal at 169.58 should be seen, within half the time it took to...
This is simple: - Logarithmic Trendline capping since 2009 - It went up 80% over a year >> Locally the progress is protected and it could find its way down like many other things from here.