Wheat Review |
Wheat's overall trend, revealed by trends of price, leverage, and time, are defined and discussed in The Matrix for subscribers.
Subscriber Comments
Capitulation is the hallmark of bottoms.
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Capitulation, the discriminant selling into a decline, usually takes place at trend inflections. Trend inflections are more common when the primary trend's price and/or time cycles are extended and a concentrated bullish energy build exists. The energy builds are even more powerful when participation collapses, and spreading activity surges.
Wheat, the leader to the downside in grains, is not showing the classic signs of capitulation. Energy is neutral, participation is high, spreading activity is low, and long-term primary trend cycles are not extended. The computer studies wheat into the early 1800s. Ag would be wise to wait for the classic footprint of bottom, and understand the risks for continuation.
The Wheat Report regularly discusses these points with an overall timing strategy.
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