brent harris elliott wave
futures market advisory service

quarterly report sample page

soybeans (jan. 31, 2009)

since the 1999-2008 advance in soybeans (4.01 �-to-16.63) clearly completed a huge, a-b-c pattern, there is little doubt that a tremendous, nine-year, super-cycle-wave-(x) has peaked. the implication of which, is that prices should now remain in a general, "down-trending pattern " for at least the next 10-years or so. however, because the patterns in both corn and wheat suggest that a "re-test" of the 2008 highs could emerge, after an [a]-[b]-[c] decline is traced-out (from the 2008 highs), i think that there�s a pretty good chance we�ll also see a substantial rally develop in the soybeans...at that time. the only difference being, that it�s unlikely that the soybeans will make it backup to the 16.63 high from last year ,i.e., anytime soon. so, at this point, our main focus will be aimed at tracking the development of the initial, [a]-[b]-[c] pattern down. to that end, since primary wave-[a] clearly bottomed at the dec. 2008 low of 7.76 1/4, and the intervening, wave-[b] "corrective-rally" is probably now about 50%-finished, it looks like traders could have pretty good opportunities to trade both sides. because it looks like we still need one more shot-down near-term, in order to label a completed, wave-(b)-of-[b] decline from the jan. 12/(a)-wave top, traders should attempt to buy near our best support cluster at 9.30-to-9.20. then, once a wave-(b) drop ends, the pattern will call for a final, wave-(c) advance, presumably to our minimum, upside target at 11.09 3/4-11.18 �. this area yields a 38.2%-retracement from the 2008 high, and appreciations of 176.4% and 44.1% from the 1999 and 2008 lows. in the event the overall, primary wave-[b] advance from the dec. 2008 low unfolds into a double-three, however, or a (c)-wave "extension" occurs, then prices could certainly "accelerate" considerably higher. note, that the next higher areas of key resistance are at 11.64 �-11.68, 11.87 1/4-11.93 � and 12.10-12.19 �. anyhow, once a completed, primary wave-[b] rally appears to be in place, we�ll definitely want to "reverse" and go short. at that point, the pattern will call for a primary wave-[c] decline to at least the 7.45 �-7.33 � and/or 6.99 1/4-6.84 1/4 level(s).

order brent's quarterly report