Tuesday, December 8, 2020

Molasses Market Continues- Targets Still Waiting

Update 2:27pm EST: Unless ES futures lurches upward towards final targets from here, there is a chance that the approaching "Pi' date may signal a partial reversal or a pause before proceeding.

One way or another we need a hit with ES futures at 'E' zone and/or a hit on VXX at 15.77 area. Either hit could be a signal level indicating it is getting closer to a reversal.

'Pi' Date: Coming up to a Pi days increment= *10 since ES futures hit a significant prior high on 11/9/20.
*(total elapsed calendar days/3.1416). Round number 'Pi' dates from a prior noted move may produce a reaction.

actual values: 9.86/10.18
on 10/11 December respectively. Let's see if proximity to these dates shoves the molasses any faster up or down.

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