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RTs,
I had a intermediate downside target on Mach Sugar of 630 - 620 area.
Wednesday, Feb. 17, March Sugar reached 629. There was a good upside
reversal into the close with both March and May contracts closing within
a few points of the high of the day after having made new life of
cotnract lows. I think that there is a good chance that a low has
eitther been made or that this market is very close to making an
important low. I also think that this may represent Five Waves down on
an Elliott count, but that will have to wait for more evidence. Evidence
for the timing of a good low here is that over the past weekend Jupiter
entered Aries. Aries is the opposite sign of Libra, which I consider to
be the ruling sign for Sugar. Additonally, Tuesday AM there was a New
Moon and Solar Eclipse, so this was the first Lunation since Jupiter
changed signs by entering Aries. The fact that Sugar reached my
Fibonacci projected target, which I had projected several weeks ago,
within one day of these Astroloigcal events, leads me to be on the alert
for an important low. Assuming this is a good low, my current minimum
expectation is for at least a 120 point rally. If the market can exceed
this amount, it would be further evidence that an intermediate to long
term low has been formed.
I welcome your opinions and coments. If you want a good futures chart
website, I recommend http://www.bohl.minot.com
Sweetly,
Norman Winski
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