highlights and themes
I’m watching for the potential for lower highs – either corrective lower high wave 2 of 5 or on some more further along in the downside wave patterns wave 4 of 5. The Bloomberg Commodity Index daily is a good example of this thesis. If commodity prices can hold at the end of July prices, one has to start to think about the August CPI report coming in a little higher than the expected lower July report.
BLOOMBERG COMMODITY INDEX DAILY AND WEEKLY
Bloomberg Commodity Index daily
Bloomberg Commodity Index Weekly
COMMODITY SENTIMENT OVERVIEW
OIL AND ENERGY
WTI Crude futures daily
Brent Crude futures daily
WTI Crude futures bullish sentiment at the low end of the range.
WTI Crude futures Commitment of Traders
Natural Gas futures daily
Natural Gas futures bullish sentiment reversed late in the week and remains in the extreme zone over 80%
Natural Gas futures Commitment of Traders
Metals
Gold futures daily
Gold futures bullish sentiment reversed off oversold levels and still has some work to confirm upside
Gold futures Commitment of Traders
Silver futures daily spiked and now it’s a show me situation as we have seen spikes fail
Silver Bullish Sentiment also was oversold and had a strong reversal up
Silver futures Commitment of Traders
Copper futures daily will get the sell Setup 9 on Monday
Copper futures bullish sentiment was also very oversold and reversed strong last week
Copper futures Commitment of Traders
Platinum daily
Platinum bullish sentiment has been quietly improving with 50% resistance above
Platinum Commitment of Traders
Palladium daily making a large base with 2200 resistance
Palladium bullish sentiment improving and gives hopes for a move higher in price
Palladium Commitment of Traders
Grains
Corn futures daily with wave 4 of 5
Corn futures bullish sentiment improved yet still has to follow through
Corn futures Commitment of Traders
Wheat futures daily still has a Sequential in progress
Wheat futures bullish sentiment remains under pressure
Wheat futures Commitment of Traders
Soybean futures daily
Soybean futures bullish sentiment with a big reversal up
Soybean futures Commitment of Traders
Livestock
Cattle futures daily with with lower high wave 2 of 5
Cattle futures bullish sentiment remains under pressure
Cattle futures Commitment of Traders
Lean Hogs futures daily with new Sequential sell Countdown 13
Lean Hogs bullish sentiment is at peak extreme levels at 91%
Lean Hogs Commitment of Traders
Softs
Cotton futures daily with lower high wave 4 of 5
Cotton futures bullish sentiment moved up yet not convinced this can continue
Cotton Futures Commitment of Traders
Coffee futures daily
Coffee futures bullish sentiment still needs to clear over 50%
Coffee futures Commitment of Traders – having a data issue with this one today
Sugar futures daily with new DeMark Sequential and Combo buy Countdown 13’s. Friday’s very weak action is a concern so a move over 18 is needed if looking to buy Sugar
Sugar futures bullish sentiment is at May lows and needs to continue the upside move
Sugar futures Commitment of Traders
Cocoa futures daily lacking a price reversal above the 50 day
Cocoa futures bullish sentiment remains under pressure
Cocoa futures Commitment of Traders
Lumber futures daily with another lower high. Watch for a break lower or turn up early this week – with the buy Setup 9
Lumber bullish sentiment getting back to the oversold levels – and can go lower
DeMark Sequential Basics
MORE DETAILED COMMITMENT OF TRADERS DEFINITIONS
