Update: Wheat - July 2016

 This is a quick update on the wheat post we published a couple of days ago. With updated data for cash wheat, this post shows how some PTVs completed on the early July 2016 bottom.

 PTV analysis

 Figure 1 is a daily price-time chart for cash wheat at St.Louis Moissouri. It shows several PTVs with lengths related to the Square of Twelve. As we mentioned in our previous post there were several PTVs or sum of PTVs completing at several tops and bottoms in the recent past.

Figure 1
Daily prices for cash wheat at St. Louis, Missouri from 2014 to the present. PTVs completing at the July 2016 bottom.

 The reader can verify now that with up-to-date data for cash wheat prices the sum of PTVs DEFGH (in green) ending at the recent July bottom is now equal to 76.69 + 81.88 + 166.58 + 103.45 = 428.60 which is closer to the third Square of Twelve, 432.

 PTV AH from the December 2014 has a length of 453.15 which is √10x144.  Additionally, from the late June 2015 top PTV CH measures 302.34 or √2x216. It is worth mentioning the √2 expansion of PTVs from this June 2015 top.

 

 Even though a major PTV related to the third Square of Twelve did not complete as we were expecting, it still looks as if Gann's 84yrs and 20yrs cycle bottomed up in July 2016.

 Summary

 This was a short update of some PTVs completing at the July 2016 bottom. The completion of these PTVs seems to be a confirmation that Gann's 84yrs and 20yrs bottomed and prices may keep going up.

[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 and grain update 

Ricardo Da Costa

Grain Market Analysis