Matt and Steve have been showing recently in their great
newsletters, this chart below from last night's, that the Ag ETFs
and indexes have moved up and almost completed 5 waves from the
June lows. This ETF, RJA, reached a dime up from
Friday's high, but all the AG ETFs and indexes are setting
up neg div. on the RSI and MACD (lower readings at these
latest highest prices), just wait for them to turn and cross back
down, and for the 60 sto to get below 80 to be safe for a short
position.
Of course like with gold stocks, some are leading, some are
lagging, and they can break out or complete a 5th wave at different
times, and this one - MOS - may push up further, the volume
seems bullish primed for a breakout, but can see lower readings
here on the RSI, W%R, MACD, and force index at a higher price than
it was a month ago. Just be cautious that if it breaks above
this, could be a false breakout, or complete a wave 5, then
reverse.
Nice summary Curtis - just look at the chart on MON which
shows a shooting star pattern - this looks like it wants to
pullback and fill the gap at least.
Posted by frtaylor on 14th of Sep 2010 at 08:29 am
Matt had posted MOS as an objective bullish setup on 8th Sept,
so I am confused about whether this is still the good trade idea it
was when he posted it. I am in trade, having bought when it did in
fact begin to break out, but it's pulled back since. Steve I
guess you're saying it's no longer got the potential it had
last week given the exhaustion in the ag sector since then?
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MOS
Posted by hamvestor on 13th of Sep 2010 at 02:59 pm
Looks primed for a b/o, but stuck for the moment
careful going long ag stocks
Posted by curtis on 13th of Sep 2010 at 03:54 pm
Matt and Steve have been showing recently in their great newsletters, this chart below from last night's, that the Ag ETFs and indexes have moved up and almost completed 5 waves from the June lows. This ETF, RJA, reached a dime up from Friday's high, but all the AG ETFs and indexes are setting up neg div. on the RSI and MACD (lower readings at these latest highest prices), just wait for them to turn and cross back down, and for the 60 sto to get below 80 to be safe for a short position.
Of course like with gold stocks, some are leading, some are lagging, and they can break out or complete a 5th wave at different times, and this one - MOS - may push up further, the volume seems bullish primed for a breakout, but can see lower readings here on the RSI, W%R, MACD, and force index at a higher price than it was a month ago. Just be cautious that if it breaks above this, could be a false breakout, or complete a wave 5, then reverse.
Nice summary Curtis - just
Posted by steve on 13th of Sep 2010 at 04:03 pm
Nice summary Curtis - just look at the chart on MON which shows a shooting star pattern - this looks like it wants to pullback and fill the gap at least.
Matt had posted MOS as
Posted by frtaylor on 14th of Sep 2010 at 08:29 am
Matt had posted MOS as an objective bullish setup on 8th Sept, so I am confused about whether this is still the good trade idea it was when he posted it. I am in trade, having bought when it did in fact begin to break out, but it's pulled back since. Steve I guess you're saying it's no longer got the potential it had last week given the exhaustion in the ag sector since then?