CRB chart shows MASSIVE Cup & Handle bullish pattern
we reached the target level at the Cup lid
next the massive jump of 40-45 pts up forecasted by the pattern
we have been dicking around for a solid month now at the release area, 225-230, which is marked by indecision, consolidation, gathering strength, shedding weak hands in favor of strong, awaiting fundamentals to catch up
target: 270-280
the big elements behind this index are gold, silver, copper, crude oil, natgas, grains, meats, coffee, cocoa, lumber
a couple elements like lumber is sluggish now, owing to the upcoming bust in Real Estate (ultra-slowmotion though)
a radical revolution is underway, toward hard assets unencumbered by debt, as paper-based assets are distrusted, since they are so subject to fraudulent accounting, excess debt, and other curses such as willy nilly share dilution and whorish deception with recommendations
natural resources are the key !!!
the PPO cyclical signals a crossover in progress
it will take time though
it is a pct-based MACD-type cycle which measures moving average crossovers
futures.tradingcharts.com
/ jim |
