By Nico Isaac
The votes are in. The ballots are tallied. And the official frontrunner has been declared. (And no, we’re not talking about the 2008 Presidential Primaries)
We’re talking about the current race to determine which market -- out of all the major commodity candidates out there -- is the greatest contender for near-term opportunity. And the winner is: Cotton
So. Now that you know the WHO, the next obvious issue is WHAT animal the next big move in cotton will represent. And no, we don’t mean donkey or elephant; but rather, Bull or Bear?
Well, if you ask the mainstream financial “experts,” cotton’s political leanings are still quite unclear. The way they see it, the market’s near-term bias depends on the release of a few key fundamental reports, due out anytime between Friday AND who knows when.
“Days like this just confirm that we’re confined to this range,” begins a recent DJ Newswire. “Cotton may have its own direction to follow as a host of market-relevant information is due in the following days.”
To wit: The February 8 U.S. Department of Agriculture supply/demand AND crop report AND the upcoming National Cotton Council planting intentions report. A more vague point of reference is the overall shape of the U.S. economy:
“New towels, drapes, clothes; these are more luxury type goods. If the US goes into recession, they can have ripple effects back through the retail, textile and cotton supply chain worldwide.” (Ag News)
Confirmation on that may take a while.
The good news is -- you don’t have to wait. In the February 7 Daily Futures Junctures, editor Jeffrey Kennedy offers in-depth analysis and labeled price charts of Cotton that show exactly which side of the fence to stand on.
In Jeffrey’s own words: “The only thing that can confirm a wave count is price action.” On that note, he offers the exact price level that would prove his analysis correct.
The even better news is -- You can get instant access to the complete Daily Futures Junctures publication, along with the entire Futures Junctures Service package, at the unbeatable discount of $ZERO$ dollars.
No, that’s not a typo. That’s the benefit of Elliott Wave International’s famous Futures Junctures Free Week event (February 6-13), open to every EWI Club member.
Just follow the fast free steps outlines below to get started.