This post focuses on PTV[1] analysis of July soybean futures. There are different PTVs since October 2014 which lengths are related to the first Square of Twelve. Since then, several important turning points have been defined by these PTVs.
PTV analysis
Figure 1 is a daily price-time chart for July soybean futures from late 2014 until the present time. It contains several PTVs which have defined significant tops and bottoms since October 2014. The lengths of these PTVs are related to the First Square of Twelve (red) and another set of PTVs related to One and a Half Squares of Twelve (green.)
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| Figure 1 Daily prices for July soybean futures since late 2014. PTVs defining significant tops and bottoms with lengths related to the First Square of Twelve (red) and 1.5x144 (green). |
A few PTVs which are noteworthy
A PTV with length equal to one a half time the First Square of Twelve (1.5x144 = 216) defined the complete decline from the November 2014 top until the May bottom. The rally that followed until the summer tops of July 2015 was defined by a PTV with length equal to 144. The abrupt decline that ensued until September 2015 was defined by a PTV with length equal to the First Square of Twelve times the Square Root of Two ratio, this is √2x144 = 203.65.
However, the final bottom on November 2015, which aligned with Gann's 45yrs cycle harmonic, was defined by a PTV starting from the July top with length equal to 1.5x144 = 216, just like the decline from Nov 2014 until May 2015 described above.
More recently, the swing top of late March 2016 was defined by a PTV which suffered vectorial partitioning. The sum of two vectors equals the First Square of Twelve, 84.54+64.08 = 148.62.
The current rally until the swing top of April 21, 2016 @ 1043 3/4¢ has been defined by two PTVs. Since the November 2015 bottom a PTV of length 210.6 (216) and since the acceleration bottom of late March 2016, 141.05 (144.)
It is worth mentioning that the April 21, 2016 swing top is a double top against the March 2015 top. Exactly 288 trading days before.
Summary
The current rate of vibration of July soybeans seems to be 1x144. Several important turning points have been defined by PTVs which length is directly related to the First Square of Twelve.If the market continues with its uptrend, and gains momentum, the rate of vibration might increase.
[1] PTV stands for Price-Time Vector. This concept was introduced by Bradley Cowan in his writings. Both PTV and Price-Time Vector are trademarks of Bradley Cowan.
Next post: Soybeans - May 2016
Ricardo Da Costa
Grain Market Analysis
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