Wednesday, May 06, 2009

CXM - update

CXM was written up here on April 6. After running up to $1.89, it collapsed into the $1.20's and has now risen to back around where it began the round trip. The two relevant charts are Triangles and Blue Wave Trend:

The former is a Daily chart and the latter is a Weekly chart. They are both saying the same thing, that a pop up over $1.90 is needed to confirm the bullish case, as it will trigger a Weekly BUY on the Triangle chart, to join the Monthly Buy currently in effect. That's about 15c above current prices. Blue Wave will want out if prices print under $1.38. What is not so clear is if that pop will come now, or after another visit with the $1.20's? Buy strength, sell weakness.



Anonymous said...

CTIC ready to explode!!

Anonymous said...


Do you trade rubber futures take a look. If you are not impressed ....