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Northwest Iowa | I appreciate all comments on NAT as it opens my eyes and mind to possible alternate views and counts that I may not have considered. Palm, I don't think it is a wave 5. Just throwing out ideas for others to contemplate but the last 2 weeks in the July beans has been in my observation a "running correction". The recent action does not count (Elliot wave) very well. I could build the case that we have had a wave 5 top at 10.4375. If we ignored the latest action, it looks like a top. The beans are hard charging and after a minimal setback, went off into new highs again. The weekly chart shows a band of old highs from the last 2 years from 10.40-10.60 or so. Beans are climbing a wall of worry! That term is borrowed and not mine but it does fit. There are a lot of different tools or tech analysis available. Usually when I am fixing equipment, I say that the job isn't done until I have every tool I own involved. Sometimes it is the same in market analysis. Keep the comments coming guys. | |
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Beans printed a new high
