On a good day, a market's Elliott wave structure offers a gentle nudge and quiet whisper to start looking in its direction. On a really good day, said structure grabs an analyst by the shirt collar, shakes him/her silly, and screams "Look at me! LOOK AT ME!"
On July 15, Elliott Wave International's chief commodity expert Jeffrey Kennedy experienced the latter in regard to Cocoa futures. And, in the July 15 Daily Futures Junctures, he tells the "exciting" story for all to hear, and see.
Right out of the gate, Jeffrey presents three labeled price charts of the sweet commodity, each of which draws a nail-biting picture of fully-resolved Elliott wave patterns. In the second of these close-ups (pictured below in partial detail), Jeffrey identifies "ample evidence" to suggest a major move is right around the bend.
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The first tip off is the sideways price move consisting of five waves between parallel, horizontal lines. This is a "contracting triangle" wave pattern. The key point to remember is that triangles always precede the final move of an Elliott wave sequence. They are the "white flag" wave pattern that signal just one more lap to go before the big finish.
(A Four Letter Word In Cocoa: F-R-E-E. On Wednesday, July 15, EWI launched its famous Futures Junctures FreeWeek. You can get instant, no-cost access to this premier service now. Click HERE for full, FREE details.)
Now, one triangle pattern is enough for any analyst to sit up and take notice. But in Cocoa's case, there are two! Observe the familiar, horizontal lines around the smaller triangle formation. This is a "diagonal triangle," which differs from contracting triangles in one major way: They occur at the end of larger Elliott wave patterns. Think "checkered flag" in the "race" of opportunity.
The final sign that Cocoa is "THE" market to watch right now is the big, blue (2) wave label at the top of the chart above. This labeling indicates that the next big move will be a wave 3. Ralph Nelson Elliott himself described these as "wonders to behold" due to their strength and intensity.
After these three major topping signs, there's only one possible way to top the anticipation surrounding Cocoa: Offer instant access to the complete July 15 Daily Futures Junctures at an unbelievable discount of 100% off.
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