Hi Trades,
I don't know, I did not see the date you mentioned until now when you pointed it out.
I would call that a simple correction to 512 area but it is right on the 9 month back point. So ??
I do have some problems with some of this. The following peak, I think was the flooding of the Corn fields and likely tangled with the "wall street meltdown" ????
So, if we call the Mar. 08 a ??? and go forward the next 3 points are all lows pretty much on the 320 support line. Then the next is a TOP(Prefer to call it a high point to date).
Now, what do we have ???
Mar 08 ?? a dip, maybe overwhelmed by a flood ??
Dec 08 a market turn worth about 120 points ?
Sep 09 a low point in the middle of a several month doldrum?
Jun 10 a low point near end of long 40-60point trading range
Feb 11 now we have had some action !!!
So, if one wants to call Jun 10 a likely turning point - OK
Now, Feb 11 has been referred to as a TOP, OK, that may pan out going forward.
Now for BobB's question:
I have no clue. We had 3 low points in a row, then a high point (so far). What will the next one 9 months forward be ????
So far, I see these date points as a potential "heads up"
Sep 09 certainly carried no trade able info.
Will wait for Roger to clarify what is expected on these Dates/cycle points.
Lee