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FUTR: Grains & CRB Index

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<DIV><FONT color=#000000 size=2>RealTraders,</FONT></DIV>

<DIV><FONT color=#000000 size=2>
<DIV><FONT color=#000000 size=2>
<P align=left><FONT size=2>For 110298, Last week I was looking for December 
Wheat to pull back into the 290/283 area for a potential long entry. When I am 
anticipating entering a trade in one of the Grain markets, I like to do an 
analysis of the other Grains and the CRB Index (cash) to get an understanding of 
the Bigger Picture. I am wanting to know if any of the markets have established 
trends and if they are in agreement. I have observed that when Corn, Oat, 
Soybean, Wheat, and the CRB are confirming the same longer term trends that I 
can enter corrections against their trends. I have also observed that when one 
of the markets diverges from the others that this is a low risk situation which 
can be exploited. An example would be to enter into a Long Wheat - Short Corn 
Spread if Corn was diverging lower from the other bullish markets. My Outlook 
for next week is for December Corn to put in a Swing High on Thursday or Friday 
(5 or 6), and for December Wheat to put in a Swing Low on the (5 or 6). This 
might be the window to Buy Wheat and Sell Corn as a Spread. I will use momentum 
oscillators and retracement levels to confirm this trade.</FONT></P>
<UL>
  <LI>
  <P align=left><FONT size=2>The Cash CRB Index is </FONT><A 
  href="http://homepage.macomb.com/~mig/analysis/crb-ewave-981030.gif";><FONT 
  size=2>building a solid base</FONT></A><FONT size=2> from which to start a 
  bull market; Wave-E of the Triangle should be the breakout point ... also see 
  </FONT><A href="http://homepage.macomb.com/~mig/analysis/bpm-981030.gif";><FONT 
  size=2>Stochastic Momentum for CRB, WZ, SX, CZ</FONT></A><FONT 
  size=2>.</FONT></P>
  <LI>
  <P align=left><FONT size=2>The December Wheat is </FONT><A 
  href="http://homepage.macomb.com/~mig/analysis/w-ewave-981030.gif";><FONT 
  size=2>in a wave-3 of a wave-3</FONT></A><FONT size=2> ... this as bullish as 
  it gets as far as &quot;Elliott W&quot; is concerned. Taking out 301 and 304 
  would confirm the UP acceleration phase of the wave-3. A low risk trade would 
  be to buy WZ if it trades above 304 with a sell stop below 301. I am looking 
  for WZ to put in a swing low between November 4-5-9, and a swing high between 
  November 11-12-13, with a little help from the Beans. </FONT></P>
  <LI>
  <P align=left><FONT size=2>The November Soybean is </FONT><A 
  href="http://homepage.macomb.com/~mig/analysis/s-ewave-981030.gif";><FONT 
  size=2>almost as bullish as WZ</FONT></A><FONT size=2>; if SX were to close 
  solidly above 5634 then a wave-5 should be confirmed.</FONT></P>
  <LI>
  <P align=left><FONT size=2>The December Corn is </FONT><A 
  href="http://homepage.macomb.com/~mig/analysis/c-ewave-981030.gif";><FONT 
  size=2>still in a sideways to lower consolidation</FONT></A><FONT size=2> says 
  &quot;Elliott W&quot;. This is a divergence from the other markets. I am 
  looking for CZ to put in a swing high between November 4-5-6, and swing low 
  between November 11-12-13.</FONT></P></LI>
</UL>

</DIV>

<P align=left><FONT size=2>Dennis Peterson</FONT></P>
<P align=left><FONT size=2></FONT></FONT></FONT><FONT color=#000000 size=2>Home 
Page <A 
href="http://homepage.macomb.com/~mig/home.htm";>http://homepage.macomb.com/~mig/home.htm</A></FONT></P></DIV>
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