Hi maydel,

The way I see it, I don't think it is.  Sellers washed the highs the last time, and pressed it into new lows.  Price then rallied back to where the sellers were last time, and we now know for a fact that they aren't here.  So, to me, the 'squeaker' new lows was a wash.   There has also been repetitive little B2B washes on the way up, and today, it was confirmed that the sellers are not willing to sell it again.  We zoomed a possible Center line today, so, it bears watching.  Also, their is the bigger AR set (black), and we knocked our head on today.  If we happen to consolidate here for a bit, and come zooming through it, then that gives us a pretty good idea as to where it may be heading.  Lots of reasons for a pullback here, (mini median line UML, and numerous other things).

Could be....For me, I look at the hope stage as the point where the market has turned lower, and the producers, and late buyers are "hoping" for a rally into new highs.  Down here, the little guys have been trying to short the market.  You can tell this because of the little washes and happened repetively on the way up..Let them sell it, then make them swallow it sort of thing. 

Glad to hear you were able to get long the ZC.  To be honest, I bought pre-report on the lines I posted.  But the price action since that time, has been less than stellar.  That head fake "KR" of last week is important.  That bar along with price action before and after, had me not wanting to be long any longer.  To me, the Dec corn remains a minor into major pattern, and I am now expecting new lows.  5.05 to 5.10 depending on timing on a upsloping line.  To me, its critical we hold 5.10.  If we pop it, it would officially turn the big swing on that chart to a bearish pattern.  That doesn't mean we are going alot lower initially, but, it would be unlikely that contract would make new highs...........So, I took my marbles and went home today.   I am probably overthinking it....I would sure like another run at the highs.........FWIW.  Good Luck!