The Soybean futures market is generating a buy signal based on the monthly time frame based on the "Time@Mode Methodology".
Notice the 8 month sideways action around the green horizontal line in 2021 which set up what turned into a 7 month rally into June 2022. When "time expires" the market tends to form a new mode at that price level (within the range of the 8th month) or it returns to the mode previous to the trend. You can see there was a sharp move down in July 2021 but it didn't return to the old mode, which is constructive long term.
The white and yellow projection lines are the previous two rallies added to the current "mode" at 1434'2. The green box is the range around the mode added to the mode to provide 1x and 2x's that range for a price projection potential.
The 50% speed line is a reference line to indicate if the market is holding above the half-speed of the move from the lowest low to the highest high. You can see clearly that the 50% speed line held in that pullback in July 2021.
This has been a long time building this mode and the bigger the mode, the bigger the rally.
The risk is a move back under the mode, which is the December low.
Wishing you all well.
Happy Holidays and Happy New Years!!
Tim
1:48PM EST 12/23/2022
1490 last $ZSK2023
Wishing you all the best
Notice the 8 month sideways action around the green horizontal line in 2021 which set up what turned into a 7 month rally into June 2022. When "time expires" the market tends to form a new mode at that price level (within the range of the 8th month) or it returns to the mode previous to the trend. You can see there was a sharp move down in July 2021 but it didn't return to the old mode, which is constructive long term.
The white and yellow projection lines are the previous two rallies added to the current "mode" at 1434'2. The green box is the range around the mode added to the mode to provide 1x and 2x's that range for a price projection potential.
The 50% speed line is a reference line to indicate if the market is holding above the half-speed of the move from the lowest low to the highest high. You can see clearly that the 50% speed line held in that pullback in July 2021.
This has been a long time building this mode and the bigger the mode, the bigger the rally.
The risk is a move back under the mode, which is the December low.
Wishing you all well.
Happy Holidays and Happy New Years!!
Tim
1:48PM EST 12/23/2022
1490 last $ZSK2023
Wishing you all the best
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