Here at Elliott Wave Plus, we are constantly on the lookout for “perfect storms” of bullishness or bearishness via our Sentiment Conditions screenshots for Premium Plan subscribers. A “Perfect Storm” appears when Commercials (the producers/hedgers) are heavily positioned exactly opposite to Retail Traders (trend-followers/chasers). That exact condition currently exists NOW on both Silver and Copper. And Gold and Platinum are very close. Below is our current Sentiment Conditions screenshot on Silver:
When all three measures of Commercials positioning are green (heavily long), and Retail Sentiment (the lower-most indicator on the screenshot) is extremely low (near single digits), there is a perfect storm brewing, and a significant bullish leg is due. The same thing is spread appeared very recently on a chart of Copper:
Elliott Wave Plus Premium Plan subscribers receive our Sentiment Conditions screenshots on over twenty items nightly. Those items are the S&P-500 (ES contract), Nasdaq 100 (NQ), 30-year Bonds (ZB), Crude Oil (CL), Natural Gas (NG), Copper (HG), Platinum (PL), Gold (GC), Silver (SI), US Dollar Index (DX), Canadian Dollar (G6C), Australian Dollar (G6A), Euro (G6E), Cocoa (CC), Coffee (KC), Corn (ZC), Cotton (CT), Lean Hogs (LE), Live Cattle (LE), Lumber (LB), Orange Juice (OJ), Soybeans (ZS), Sugar (SB), and Wheat (ZW).
Our subscribers are overjoyed to have incredibly valuable Sentiment information presented to them in an easy to interpret, visual way. The knowledge these screenshots provide is critically important, especially to commodities traders! Please contact us with any questions, or better yet simply subscribe to our Premium Plan! Thanks for reading.