CORN Update

The corn market continued its downtrend this week after taking a couple days to trace out an intermediate (2) wave.

If correct in my assessment, then the corn market should see some acceleration to the downside soon as it enters its (3)rd.

Price needs to take out 317.25, which should lock in (2)'s high for now. The next level of importance would be the 304 L, which is the bottom of primary [3].

[5] = [1] - [3] at 211.25. [5] = .618 of [1] - [3] at about 270, which is the minimum we should expect.