02/20/2014 – Cocoa
May cocoa, previous update:
1. The previous update indicated today, Thursday, Feb. 20 (+/-1 day) as the next important daily market bottom for May Cocoa.
2. Today’s May Cocoa session advanced powerfully, indicating that the Feb. 20 bottom occurred one trading day early, yesterday Wed., Feb. 19. No new entry occurred due to this. Will message any new entry as the market confirms.
Latest update:
1. The next important daily market top for May cocoa is today, Friday Feb. 21 (+/-1 day). It is likely the actual top occurred in today’s session.
2. Continued daily closes below $29.75 in May cocoa (expected) indicate a tradable decline and test/attempt at $29.18, then at/near $28.70 into Tuesday, Feb. 25 (+/-1 day).
3. Will message any new entry based upon the above as the market continues to confirm.
David Williams
CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.