Category: Commodities
Futures: One of 20 Opportunities
"Fundamentals" is not everything.
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| By Morgan Lee |
Published: Fri, 25 Apr 2008 17:45:00 ET |
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Here’s a quick and simple question: Does the chart below display a market headed for a continued sell-off?
Of course not. Not according to the Elliott Wave Principle, and certainly not according to Elliott Wave International's own Daily Futures Junctures editor Jeffrey Kennedy, who reveals the name of this commodities futures market – along with 19 others – and its direction in tonight’s (April 25) Weekly Wrap Up, featured every Friday in Jeffrey's DFJ.
In the April 25 Daily Futures Junctures “Weekly Wrap- Up” section, editor Jeffrey Kennedy presents graphic forecasts for almost two dozen commodity futures markets. Learn more here.
Even with some labels erased for this publication, you can see that Jeffrey is very excited about the possibilities for this market: It's about to embark on a third-wave ascent – which is often the most powerful wave formation.
Funny thing is, if you read about this futures market in today’s mainstream financial media, you’d think there was nothing but doom and gloom in store. According to one source, this market is in for a continued sell-off due to favorable weather conditions in Europe, which will boost supply and thus suppress demand for this particular commodity.
I wonder what the media's commodity analysts will be saying if this market indeed rallies instead?
To find out what this market is, sign up for a risk-free, 30-day subscription to Daily Futures Junctures . You’ll also learn about 19 other markets in Jeffrey’s April 25 Weekly Wrap Up.