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Internet: www.HarmonicTiming.com Email: office@HarmonicTiming.com Editor: Ernie P. Quigley

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MARCH 1, 2015 VOL. 24 NUMBER 3 *12 MONTHLY ISSUES & SPECIAL REPORTS & VIDEOS

Cycle Turn Windows Beware the Ides of March!

Time is the most important consideration in the analysis of stocks and commodities. When time has
expired, the markets will change trend. W.D. Gann
A Preview:
A Cycle Turn Window is upon us! Chart 1 updates the 48 to 50 Week Interval of Ganns 84-Year Cycle
measured from the historic low of October 2001 presented in Harmonic Timings 2015 Forecast. Notice
that seven years after the historic low of 2001 this cycle nailed the high of June 2008. Because of its
reliability, this cycle is one of my favorites. Measured from October 22, 2001 this cycle has a Cycle
Turn Date projected for March 2, 2015.
Table 2 shows the Cycle Forensics of the 48 to 50-Week Cycle. Ranging from $0.17 to $2.47,
the average rally associated with this cycle is $0.77. The median rally is $0.55. The average decline

Chart 1 The 48 to 50 Week Interval of Ganns 84-Year Cycle

2015 HARMONIC TIMING. INVESTING AND FUTURESTRADINGOFFERSSUBSTANTIAL RISK & INVOLVES THE POTENTIALOFLOSSESINEXCESSOF
YOUR ORIGINAL TRADING CAPITAL. IT SHOULDBEATTEMPTEDBYTHOSEINTHEPROPERFINANCIAL CONDITION & WHO ARE WILLING TO ASSUME
RESPONSIBILITY FOR THERISKINVOLVED. PAST & SIMULATEDPERFORMANCE ARE NOT INDICATIVE OFFUTURERESULTS.THIS JOURNAL MAY
CONTAININADVERTENT TYPOGRAPHICAL ERRORS, FOR WHICH WE APOLOGIZE. THE FACTUAL INFORMATIONOFTHISJOURNAL HAS BEEN OBTAINED
FROM SOURCES BELIEVEDTOBERELIABLE, BUT IS NOT GUARANTEED AS TO ACCURACY OR COMPLETENESS.

Harmonic Timing of Corn Page 2

associated with this cycle is $1.92 . The Cycle Turn Window of the 48 to 50 Week Cycle is from
February 26th to March 25, 2015.

Table 1 Cycle Forensics of the 48 to 50 Week Interval of the 84-Year Cycle

The mid point of the 48 to 50 Week Cycle Turn Window is March 11th . There are High Energy Days
projected for Friday-Monday, March 13th -16th .
With a Cycle Turn Window projected for March, I measured back from March 2015 on several of my
reliable cycles to see if there was a confirmation of the Cycle Turn Window.

Chart 2 A 10 to 13 Month Cycle Measured Back from March 2015

Harmonic Timing of Corn Page 3

Chart 2 shows a 10 to 13 Month Interval of Ganns 45-Year Cycle. I originally measured back from
March 3, 2015. After making several adjustments, I found that measurements from October 8, 2007
aligned with a number of past highs and lows.
Taking ideal measurements from the actual turning points projected a Window from February 22nd to
March 28th . The 10 to 13 Month Cycle reinforces the probability of an important turning point during
March 2015.
The Spring High is anticipated during March. If the Spring High unfolds as anticipated, a declining trend
from that high is expected. This declining trend may last into February 2016 as the 30-Year Cycle makes
a low.
If the cycles projected for March arrive as lows it will change things considerably.
A Review:
Chart 3 shows a 9 to 12 Month Interval of W.D. Ganns 20-Year Cycle measured from June 29, 2001.
As can be seen on the chart, this cycle interval regularly aligns with multi-week highs and lows. Note
that it aligned with the significant highs of October 2012 and June 2013. The Cycle Turn Window of the
9 to 12 Month Cycle extended from January 28 to February 19, 2015.
8-Week Momentum turned bullish during late January, indicating a cycle low was made on January 30th .
This cycle low was the Winter Low, which indicates prices are moving toward their Spring High.

Chart 3 The 9 to 12 Month Interval of Ganns 20-Year Cycle How It Turned Out
Momentum Measurements of July Corn
Weekly Momentum measurements are useful when they are overextended; either overbought or
oversold, and trigger reversal patterns followed by confirmations. Reliable signals of an intermediateterm high or low are when different time frames; i.e., Weekly and Daily Measures of Momentum trigger

Harmonic Timing of Corn Page 4

reversals in close proximity. When reversals are made during an important Cycle Turn Window, Weekly
Momentum is used to confirm that a cyclical turn is unfolding or has been made.
When two different look back periods of the same time frame; i.e., weekly or daily trigger reversals in
close proximity, it is a sign a change of trend is at hand. This is especially important when 8-Week and
13-Week Momentum trigger reversals in close proximity. This is a strong pattern that a multi-week
change of trend is at hand.

Chart 4 Weekly Momentum of July Corn

Chart 4 shows measurements of 8-Week and 13-Week Momentum. As of Friday, February 27th , 8-Week
Momentum was bullish and close to being overbought. 13-Week Momentum was also confirmed
bullish. Weekly Momentum indicates net strength can last into mid-March +/-.
Chart 5 shows measurements of 8-Day Momentum and 13-Day Momentum. 8-Day Momentum has
triggered and confirmed a bullish reversal at an oversold level. 13-Day Momentum is bearish with its
fast line oversold.
Daily Momentum suggests net daily strength can continue.
Chart 6 shows MACD Momentum of July corn. MACD Momentum triggered a slight bearish crossover
this past Wednesday, February 25th . On Friday it triggered a slight bullish crossover. A bullish Zero Line
Crossover will signal potential for higher prices. The lack of a strong bullish Zero-Line Crossover will
indicate weakness can develop.

Harmonic Timing of Corn Page 5

Chart 5 Daily Momentum of July Corn

Chart 6 MACD Momentum of July Corn

The Daily Pattern:
Chart 7 shows the daily pattern of July corn from the Fall-Harvest Low of October 1, 2014 through
Friday February 27, 2015.

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The low of October 1, 2014 is labeled as the Fall-Harvest Low. This low followed the waterfall decline
from April-May 2014. The low of October 2014 completed a five-swing decline from the April-May
2014 high. Swing theory states that a five-swing pattern can be followed by an ABC correction. The
labeling that is shown on Chart 7 is that an ABC correction is unfolding.

Chart 7 The Daily Pattern of July Corn

The Winter High of December 29th is the Winter High and labeled as a Swing (A) high. The Winter
Low of January 30th is the Winter Low and labeled as a Swing (B) low. If this labeling is accurate, a
Swing (C) rally is unfolding.
July corn bottomed on February 26th at Geometric Support and turned up. The immediate target is the
Ratio and Geometric Cluster Zone at $4.12 to $4.15 +/-. Convincing closes above $4.15 will indicate
there is potential to reach $4.21 to $4.23 +/-.
If there are changes to this analysis, it will be reported first in the twice-weekly Updates.
The Pattern of the Four Seasons
Chart 8 shows the daily pattern of Cash Corn at Central Illinois from the Fall-Harvest Low of November
18, 2013. The chart shows the Annual High of April 29, 2014 at $4.98 . It shows the Fall-Harvest Low
of October 1, 2014, which was the Annual Low of 2014. From the Fall-Harvest Low of October 1, 2014
Cash Corn at Central Illinois rallied to their Winter High of December 26, 2014 at $3.90 .
Table 2 shows the data since 1986 of the rallies from the Winter Lows to the Spring Highs. The average
rally has lasted for 75 calendar days and has rallied close to 20%.
I isolated five prior bear markets to see what the percent increase in prices were:

Harmonic Timing of Corn Page 7

Chart 8 Cash Corn at Central Illinois Pattern of the Four Seasons

Table 2 Historical Data of the Rallies from the Winter Lows to the Spring Highs

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The rally from April 1, 1977 to April 22, 1977 was 4.4%.
The rally from March 3, 1978 to April 14, 1978 was 17.2%.
The rally from March 7, 1986 to April 4, 1986 was 7.0%.
The rally from February 26, 1999 to April 1, 1999 was 12.1%.
The rally from March 2009 to April 3, 2009 was 16.5%.
These five rallies averaged 11.4%. The median rally was 12.1%.
If an average rally from data since 1986 unfolds it will be approximately 20%. If a bear market is
unfolding the average rally will be approximately 11% to 12%.
The TREND of Corn is Bearish
Was the high for the 2014-15 Marketing Year in July corn made on December 29th at the Winter High?
(This high was made at $4.31 . 144 x 3 = 432)
Chart 9 shows the pattern of July corn. The window at the bottom shows its Accumulation Distribution
Index (ADI) and a moving average. When the ADI is confirmed above its moving average, the TREND
is bullish. When the ADI is confirmed below its moving average, the TREND is bearish.

Chart 9 The Accumulation-Distribution Index of July Corn

Notice what followed in October 2014 when the Index rallied above the moving average. This positive
crossing was a timely indication that a bullish trend was developing. This bullish trend lasted for
months.
During January 2015, the Accumulation Distribution Index (ADI) crossed below its moving average.
This was a bearish development. During February, the ADI declined further below its moving average.
This was a confirmation that the TREND of corn prices had turned bearish.

Harmonic Timing of Corn Page 9

The bearish TREND of corn indicates that the rally from the Winter Low to the Spring High may be
limited. The Accumulation Distribution Index cautions that a rally to the Spring High may not reach as
high as the Winter High of $4.31 .
Chart 10 shows the one-sixth divisions of Ganns 84-Year Cycle. Until October 2001, these divisions
traced out a sawtooth high-low pattern. During October 2001, what was anticipated to be a major high
was a major low.
The odds favor the turning point projected for 2016 will revert to the prior high-low pattern and be a
low. This indicates the monthly trend will decline into 2016.

Chart 10 The One-Sixth Intervals of Ganns 84-Year Cycle

The Commitment of Traders Data
The latest Commitment of Traders Data is as of Tuesday February 24th and released on Friday, February
27, 2015.
On February 24th the Commercial-Hedgers had a net short position of 14,647 futures and option
contracts. This is considerably less than the position a month ago on January 27th of being short 70,286
futures and option contracts.
The Commercials are hedging less and less of their inventory. IF the trend continues they will develop a
net long position in the weeks ahead. This will be an Alert to be prepared for a multi-week rally.

Harmonic Timing of Corn Page 10

Chart 11 The Commnitment of Traders Data for Corn

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