For all those with a sweet tooth. Had a look at sugar futures (SB) last week and identified a possible 18 month nominal low imminent. Uploading the chart here for the record and for future reference…
It’s always nice to find an out-of-the-way instrument that’s not highly correlated with everything else (I think this is the case but haven’t checked yet). The fact that it might have some nice upside is a real plus. Have you ever traded it? Liquidity would be my question.
Price is coming out of the 1.25 wk low and is above the 2.5 / 5 wk FLD. Since the 1.25 wk low is the mid channel pause for the 5 week everything seems to be on track. IF price can break the 10 wk VTL, make a higher 1.25 wk high, then a higher 2.5 low I’d be interested.
The inputs for the filters are taken from your phasing.
Thanks for posting,
Hi Curt, I have looked briefly into instruments that have a correlation with sugar. Agriculture and food based companies here in the UK. Also some ETFs that track the price.
Yes I have been keeping an eye. The current phasing I have indicates sugar is running slightly longer duration cycles than Hurst’s nominal model. That would imply a 40 day nominal low here. If the low end June does not hold (and I am prepared to give it some leeway - I am not a EW absolutist!) then the logical conclusion would be that the 18 month occured in December 2016 and cycles are infact running shorter than the nominal!
I much, much prefer the former for many, many Hurstonian reasons…
I do like cheaper sugar mind you. Cheaper chocolate for one…