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corn top

I believe corn has made a major top. I have many reasons influencing my decision. I'll list a few of the things that matter to me. First notice that march 4th 2011 is 540 degrees (1 and half) from 9-8-09. The march 2011 contract made a low of $3.66 o 9-8-09. The top on Friday was just a little higher than doubling of this price ($7.34). July 2011 contract made low of $3.83 on 9-8-09 and rallies 360 cents to 3-4-11 top of $7.43. 360 cents means those 2 prices (3.83 and 7.43) are same exact point on circle. December 2011 contact squares out in price and time. It rallied 240 cents in 238 days from 6-29-10 low to 2-22-11 top.

Looking at the weekly chart, from the major low of $2.90 on 12-5-08 corn has rallied to $7.35. The midpoint of this move on the circle of 360 degrees is 692 or 332. This is exactly where mars was on Friday march 4th 2011. Time and price also square out from major tops such as the 7-12-96 top of $5.54. It is 175 months and 175 cents to 7.29. From the major low of $1.86 on 11-28-05, the market has rallied $5.49 cents in 548 weeks.

There are other more complicated planetary cycle reasons to expect a turn, but in any case, I think corn is going to have a MAJOR drop.

Roger

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corn top