Fall is commodity is done
CRB Index 273.84
Elliott- The rally from the lows is an impulse wave on the 3day charts. I mistook it for corrective on the weekly charts. So the correction is over.
RSI- Stock making higher lows and a + divergence is an indication of reversal.
Trendline- The break of the trendline will be a confirmation. On the RSI the trendline has already been broken.
Conclusion - This uptrend here mean all is well. the deflation threat is not high. Hence the rate cuts in the future is not likely to happen. The mkt has discounted the rate cut in the 18th Sep. So time to buy good stocks available at a discount.
Elliott- The rally from the lows is an impulse wave on the 3day charts. I mistook it for corrective on the weekly charts. So the correction is over.
RSI- Stock making higher lows and a + divergence is an indication of reversal.
Trendline- The break of the trendline will be a confirmation. On the RSI the trendline has already been broken.
Conclusion - This uptrend here mean all is well. the deflation threat is not high. Hence the rate cuts in the future is not likely to happen. The mkt has discounted the rate cut in the 18th Sep. So time to buy good stocks available at a discount.
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