Latest / AG Bull / Cary Artac Wicked Charts | Soybeans wobble while Tesla sprints

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Cary Artac Wicked Charts | Soybeans wobble while Tesla sprints · AG Bull

• 0:22
  SPEAKER_01: Well, how are we doing, everyone?
• 0:23
  SPEAKER_01: Tom Gersafi, Agbell, Media Ag Bull Trading.
• 0:25
  SPEAKER_01: We got a cool little show for you today.
• 0:27
  SPEAKER_01: The markets are moving, and we got the one and only Mr.
• 0:29
  SPEAKER_01: Carrie Artek coming in with wicked charts.
• 0:33
  SPEAKER_01: Now, if you want to find him, he's going to tell you how to do that.
• 0:36
  SPEAKER_01: He's got a go over to YouTube.
• 0:37
  SPEAKER_01: You definitely want to see wicked stocks, but uh I know him more from the commodity side.
• 0:41
  SPEAKER_01: Now, what's interesting is that uh he does both.
• 0:44
  SPEAKER_01: So we'll bring him in.
• 0:45
  SPEAKER_01: Carrie, good to have you here.
• 0:46
  SPEAKER_01: Great to be back.
• 0:48
  SPEAKER_01: People are seeing you because I had problems with last week's episode, so I didn't publish, but I know you from a long time ago.
• 0:55
  SPEAKER_01: Of course, I know you from Chip Florey's show and other stuff from MagroTalk.
• 0:58
  SPEAKER_01: True.
• 0:58
  SPEAKER_01: You got a great list up of uh stuff.
• 1:00
  SPEAKER_01: Don't forget to leave time for yourself at the end to tell people how to get a hold of you.
• 1:04
  SPEAKER_01: Let's bring the real star of the show in the charts.
• 1:07
  SPEAKER_00: Sure.
• 1:08
  SPEAKER_00: Yeah, let me start.
• 1:09
  SPEAKER_00: I'll I'll just jump right into it.
• 1:11
  SPEAKER_00: Uh, I've got two markets.
• 1:12
  SPEAKER_00: You've got eight charts here that you can see.
• 1:14
  SPEAKER_00: I'm opening up all of them in a moment, but I'm gonna start with soybeans and I'm gonna end with Tesla.
• 1:19
  SPEAKER_00: We're just gonna cover those two.
• 1:20
  SPEAKER_00: So this is the soybean weekly continuation chart.
• 1:24
  SPEAKER_00: You know, there are two ways to study, you know, commodities as you're familiar with, Tommy, and that is with respect to the futures markets, commodities, you've got continuation charts, which is the stringing together of previous high-volume contracts, which is this chart.
• 1:38
  SPEAKER_00: And then you've got the contract specific data, which is just the November contract itself.
• 1:43
  SPEAKER_00: So I'm going to be kind of bopping back and forth between them.
• 1:46
  SPEAKER_00: But the the point I'm making here is this is a weekly chart.
• 1:48
  SPEAKER_00: So what you're seeing are several years of activity.
• 1:51
  SPEAKER_00: And there is, since this August high, August 18th, the week of, we've had this lower low, lower high dynamic in soybeans, a weekly descending channel that this week, uh, the week of Monday, October 6th, is at 1032 even.
• 2:05
  SPEAKER_00: It's dropping seven cents a week.
• 2:07
  SPEAKER_00: So next week, for instance, the week of October 13th, it'll be 1025.
• 2:11
  SPEAKER_00: There's also the high of the low from last week.
• 2:13
  SPEAKER_00: And this was a substantial week, kind of a reversal week where we put out a new pullback low following that August high, and we closed higher on the week.
• 2:21
  SPEAKER_00: So I think closing above it as well, 1028 and three-quarter at the end of this week, is a meaningful buy signal that I would expect uh to play out into later year.
• 2:30
  SPEAKER_00: But before we do that, because that hasn't happened, holding below 1032 even will keep these longer-term, mostly horizontal channel structures in reach.
• 2:39
  SPEAKER_00: On this is the broader weekly continuation chart, presently occupied by November, the January 26th, we'll assume this chart in the coming weeks, et cetera, et cetera.
• 2:49
  SPEAKER_00: And so holding below 1032 even will keep the broader soybean market in reach of this 960s, 970s area, which is changing a little bit every week, but 968 to 973 roughly is a base of long-term support that can contain selling for the broader market, Jan 26, March 26, into next spring and perhaps even into next summer.
• 3:10
  SPEAKER_00: If we close above 1032, even, and this also shows up on the November chart itself.
• 3:16
  SPEAKER_00: So this is November data only.
• 3:18
  SPEAKER_00: I can kind of make that point by scrolling out, and you can see that there is a beginning point of the November contract back in 23.
• 3:25
  SPEAKER_00: But same exact formation at 1032, because that's all November data for the last few months.
• 3:31
  SPEAKER_00: Once again, holding below 1032 even will keep the same exact idea: 950s, 960s, 957.5, 969, even in reach over the next two to three months.
• 3:41
  SPEAKER_00: Now, to say that I expect this is a bit of a stretch, but you must respect the market's tendency or susceptibility to falling away over the next couple of months into what I would call the 950s, 970s, where a longer-term low can be placed into spring, summer of next year.
• 3:57
  SPEAKER_00: Inversely, if we can close above the 1032 level, then I think realistic, and now we're back to this weekly continuations chart, which January will inherit in the next three or four weeks.
• 4:08
  SPEAKER_00: If we can close above 1032 even this week, and that's also above the high of the low of 1028, then I see the low 1080s likely within a month or two.
• 4:17
  SPEAKER_00: Uh, and this is going to be a trouble spot, obviously, these series of highs that played out really beginning in February of this year.
• 4:23
  SPEAKER_00: So that's as far as I'm gonna go with this.
• 4:25
  SPEAKER_00: So 1032, bottom line with this analysis, 1032 is our pivot point, dropping weekly, seven cents a week through the rest of the year, below which we can fall back into the 950s or 970s over the next month or two.
• 4:38
  SPEAKER_00: And if we can close above 1032, looking for the low 1080s, it's about as simple as that.
• 4:44
  SPEAKER_00: And I can also show this chart.
• 4:46
  SPEAKER_00: This is the November chart.
• 4:47
  SPEAKER_00: There's not enough time left for this to occur, but if we had three or four months left in the November contract, closing above 1032 does sort of mimic that same area of resistance I showed earlier at 1082 on the weekly continuation chart, is more in the 1080s, 1090s on the November chart.
• 5:03
  SPEAKER_00: I'm gonna jump to Tesla now, which I cover actually every day at wickedstocks.com, or I should put it this way, on our free YouTube channel.
• 5:11
  SPEAKER_00: You go to YouTube, type in Wicked Stocks, you will find this on a daily basis, our daily Tesla analysis.
• 5:16
  SPEAKER_00: So this is an example of the work that we do every day, you know, on our YouTube channel.
• 5:21
  SPEAKER_00: And a month ago, this is a weekly chart.
• 5:24
  SPEAKER_00: So a month ago, we closed above the 362.39 two and a half year rising channel top.
• 5:29
  SPEAKER_00: We also cleared a 50% upside retracement point that had been established from the December high against the April low.
• 5:35
  SPEAKER_00: This area had held beautifully from early May all the way into most recently.
• 5:40
  SPEAKER_00: And then it was a month ago that we closed above it.
• 5:42
  SPEAKER_00: We did this before back in November of last year, where we closed above this two and a half year channel top.
• 5:48
  SPEAKER_00: And we almost reached the five-year channel top objective in about four or five weeks.
• 5:53
  SPEAKER_00: And we're looking at the same now.
• 5:55
  SPEAKER_00: In fact, I show 524.64 as our objective following the settlement a month ago above 362.39.
• 6:02
  SPEAKER_00: The question is, how long will that take?
• 6:04
  SPEAKER_00: Is it going to be, you know, five to eight months, or is it gonna be more like two to three months?
• 6:09
  SPEAKER_00: We're a full month into it now, and probably 60, 70% of the way to reaching our objective.
• 6:14
  SPEAKER_00: What has gotten in the way recently, and this is something we put out every single day on our YouTube channel, is this, and I'm zooming in the exact same chart.
• 6:22
  SPEAKER_00: You've got a seven-month rising channel top that this week is at 469.54, and next week is at 474.90 for October 13th.
• 6:31
  SPEAKER_00: This is our near to midterm ceiling.
• 6:33
  SPEAKER_00: Uh, the market can grow tired into November holding below this now that we've tested it.
• 6:38
  SPEAKER_00: And there is the susceptibility once again to falling away back into the 350s, 360s over the next month or two.
• 6:45
  SPEAKER_00: If we can, however, close this week Friday above 469.54, our overall objective at 524.64 likely to be realized with this kind of volatility within two to three weeks.
• 6:56
  SPEAKER_00: 524.64 is once again a five-year channel top that can contain buying not only for the rest of the year, but possibly through the first quarter of next week and fall away from here.
• 7:07
  SPEAKER_00: Looking at the downside now, you've got the channel top at 469.54 I'd mentioned, below which we're susceptible to falling back into the 350s, 360s over the next month or two.
• 7:17
  SPEAKER_00: And if we close this week Friday below the low of the high that was established last week of 416.57, very simply, I see that as a sign of weakness.
• 7:26
  SPEAKER_00: And within as little as two to three weeks, or by the end of November anyway, we can fall into this 359.95 to 362.39 region, a convergence of two channel structures that could contain selling through the rest of the year.
• 7:38
  SPEAKER_00: And once tested, we can round up into the 524.64 area.
• 7:42
  SPEAKER_00: That pretty much, pretty much rounds it out, Tommy.
• 7:45
  SPEAKER_01: Do we have time for a question and answer?
• 7:47
  SPEAKER_01: Sure.
• 7:48
  SPEAKER_01: Can you go back to soybeans?
• 7:49
  SPEAKER_01: I have a question.
• 7:50
  SPEAKER_01: And I I do want to give full disclaimer that folks, you are uh probably maybe listening to this on Apple or Spotify.
• 7:56
  SPEAKER_01: And to really get the full benefit of all this, head over to YouTube, click on Agble Media, and then of course go over to Wicked Stocks.
• 8:04
  SPEAKER_01: We call this episode Wicked Charts, but you want to see this daily stuff, go over to Wicked Charts and WickedStocks.com is calling this Wicked Charts.
• 8:13
  SPEAKER_01: I see.
• 8:14
  SPEAKER_01: I'm sorry.
• 8:14
  SPEAKER_01: Yeah, I'm on the show.
• 8:15
  SPEAKER_01: I thought you were missing just search Wicked.
• 8:17
  SPEAKER_01: But there you go.
• 8:18
  SPEAKER_01: When we do a vocal thing, like I always listen to you on chip, and you're always talking about all these lines, and I can't see what you're talking about.
• 8:24
  SPEAKER_01: The benefit of this is that you're sharing your screen.
• 8:26
  SPEAKER_01: So um I did a podcast the other day with a guy, and I said, folks, I know you can't see the PowerPoint, but if you want to see it, just let us know.
• 8:33
  SPEAKER_01: But in this case, it was live and uh you need to uh watch the YouTube.
• 8:36
  SPEAKER_01: But you can listen and get to see.
• 8:37
  SPEAKER_01: Here's my question Sure Climate Gross Happy, longtime listener, first time caller.
• 8:41
  SPEAKER_01: It's obvious that corn and soybeans are just going sideways and sideways and sideways for about two years now, right?
• 8:49
  SPEAKER_00: I mean, if you use this low, August of 24.
• 8:52
  SPEAKER_00: So not two years, but uh 16 months anyway.
• 8:55
  SPEAKER_00: Yeah, go ahead.
• 8:57
  SPEAKER_01: Well, uh everyone wants to know.
• 8:59
  SPEAKER_01: We're gonna break out to the upside or the downside.
• 9:01
  SPEAKER_01: What are a couple of things you look?
• 9:03
  SPEAKER_01: Is that a quite good question?
• 9:04
  SPEAKER_01: What are it?
• 9:05
  SPEAKER_01: Yeah.
• 9:05
  SPEAKER_00: The way I would describe this is a long term, like into next spring, perhaps, we've got a 960s, 970s floor of support, and you know, we've got like a 1080s ceiling of resistance.
• 9:17
  SPEAKER_00: Now, there are other elements I can draw here.
• 9:20
  SPEAKER_00: I just didn't want to confuse the subject.
• 9:22
  SPEAKER_00: I I wouldn't be comfortable playing the long side, longer term uh in soybeans unless we got above this channel at 1120.
• 9:28
  SPEAKER_00: But the way I would call this is you're in a near to midterm bear trend below 1032 even.
• 9:34
  SPEAKER_00: And if we close above it, you're looking for longer-term resistance that begins in the 1080s that may contain buying into next spring.
• 9:40
  SPEAKER_00: So it really is, if you're looking for kind of a two-sided framework, it's the 960s, 970s floor that could contain selling in the next spring.
• 9:49
  SPEAKER_00: And it's like a 1080s to 1090s ceiling of resistance that can contain buying over the same timeframe.
• 9:57
  SPEAKER_00: And inside of that, you've got this midterm pivot point at 1032.
• 10:01
  SPEAKER_00: We're below 1032.
• 10:02
  SPEAKER_00: So odds favor by a degree that we continue south into the 960s, 970s over the next month or two, unless we can close above 1032.
• 10:12
  SPEAKER_00: Then the market has tipped its hand, is indicating not going to continue lower into later year.
• 10:17
  SPEAKER_00: Rather, you need to respect the bullish potential with the settlement above 1032, even.
• 10:21
  SPEAKER_00: I do think the 1080s are likely within a month or two.
• 10:24
  SPEAKER_00: Now, this will be an easier lift for the January contract, which we'll be rolling into in the next three or four weeks.
• 10:30
  SPEAKER_00: It's up, I think it's up roughly 20 cents higher already than the present November contract.
• 10:35
  SPEAKER_00: So we could even leapfrog over this uh in the coming weeks uh vis-a-vis the rollover from November today.
• 10:41
  SPEAKER_01: Daily continuation.
• 10:43
  SPEAKER_01: Yeah.
• 10:43
  SPEAKER_01: Okay, very good.
• 10:44
  SPEAKER_01: Whew.
• 10:45
  SPEAKER_01: That was a damn good answer, young man.
• 10:47
  SPEAKER_01: Oh, thank you.
• 10:48
  SPEAKER_01: Mr.
• 10:48
  SPEAKER_01: Carrie RTAC.
• 10:49
  SPEAKER_01: How do people get a hold of you?
• 10:50
  SPEAKER_00: Well, if it's a commodities analysis, it's rtechadvisory.com.
• 10:54
  SPEAKER_00: My last name is A-R-T-A-C.
• 10:56
  SPEAKER_00: Then the word advisory.com.
• 10:58
  SPEAKER_00: I offer a two-week, no questions asked, free trial.
• 11:01
  SPEAKER_00: You don't need any payment information for that.
• 11:03
  SPEAKER_00: And then on the stock side, it's wickedstocks.com, which I've been operating for about five years only with my my two youngest kids in their 20s.
• 11:10
  SPEAKER_00: And together we put together this product.
• 11:13
  SPEAKER_00: Uh, the subscription includes daily spy, daily triple Q, weekly Apple stock analysis, two stock picks every week, blah, blah, blah.
• 11:19
  SPEAKER_00: But as a teaser on our free YouTube channel, we offer daily Tesla and daily Nvidia analysis.
• 11:25
  SPEAKER_00: So on the stock side, you can find our paid subscription at wickedstocks.com.
• 11:30
  SPEAKER_00: There's a five-day free trial there, or they could just see it for free all day long, all month long, if they want, at just by searching for wicked stocks on the YouTube search function.
• 11:40
  SPEAKER_01: I think commodity uh traders, brokers, analysts are gonna love to hop over on the stock side and get a taste that someone's talented enough to do both.
• 11:48
  SPEAKER_01: I appreciate that.
• 11:49
  SPEAKER_01: All right.
• 11:50
  SPEAKER_01: There you go, my friend.
• 11:51
  SPEAKER_01: Mr.
• 11:51
  SPEAKER_01: Carrie Artek, he's a traveling man.
• 11:53
  SPEAKER_01: When you see him, he's always in a different spot, just like myself.
• 11:56
  SPEAKER_01: My name's Tommy Grossafi.
• 11:57
  SPEAKER_01: Thanks for listening to Eggbow Media Eggbow Podcast.
• 11:59
  SPEAKER_01: It's going to be a new weekly show called Wicked Charts.
• 12:02
  SPEAKER_01: See ya, folks.