Trade Alert

Sell December mini wheat. Sell 692 1/4 stop. Protective stop 714 1/4. Potential projection 625.
Reasons for the Trade:
1. The monthly chart has a sell signal.
2. The weekly chart has a previous sell signal that is still intact.
3. The daily formed a key reversal top to the recent rally that topped on the 11th - suggesting a trend change from up to down.
4. On the daily chart, a sell signal would push wheat under the 20 day ma.
5. The daily chart is in a downtrend since the August 6 high. It has had two waves down. The recent rally could be the set up for a third wave down.
6. Friday was an outside day that can trigger a signal and market direction.

Sell December mini Eurocurrency. Sell 139.02 stop. Protective stop 141.69. Potential projection 133.00.
Reasons for the Trade:
1. The monthly chart is in a major downtrend. The recent major rally appears to be the setup for a third wave down.
2. On the weekly chart, the current wave up has met projections.
3. On the daily chart, the current wave up has exceeded projections - suggesting an over bought market.
4. On the daily chart the fx formed a key reversal top last Friday - suggesting a trend change from up to down.
5. Friday was an outside day that can trigger a signal and market direction.

Sell December coffee. Sell 183.15 stop. Protective stop 189.40. Potential projection 172.50. This is a high risk trade.
Reasons for the Trade:
1. On the monthly chart, coffee is in resistance going back to 1996.
2. On the monthly chart, the current wave up has exceeded projections - suggesting an overbought market.
3. The weekly chart has a previous sell signal that is still intact.
4. On the daily chart, coffee has been in a downtrend since the Sept 8 high.
5. On the daily chart, coffee rallied up to the 189.50 resistance last week and could not get over it. It has attempted to since last Wednesday.
6. Friday was an outside day that could trigger a signal and market direction.