Still waiting for Sugar to turn the corner to buy. Today was constructive, but we have seen this pattern now for weeks. Sugar needs more confirmation across the board before a long position can even be considered.
Aggressive Traders can get bullish on Cotton as intra-day it made some very positive signs.
Still to early for Trend Traders to Enter this Market
Hogs continue their decline as well. The hogs have reached a point where we could really see some acceleration to the downside!
Cocoa made its expected two day counter trend rally, but if this trend is to continue down, we should not see the market up on Thursday. Intermediate term cocoa remains bearish.
Gold has reached a short term point where a rally might be expected. This should only be a counter-trend rally however as the intermediate term trend is without question DOWN!!
Rates moved up just a hair today, but the intermediate term trend remains down for rates.
Crude Oil continues its decline and should do so for the foreseeable time.
It still has just a bit more to confirm before we can call this a major trend shift.
The pattern remains the same as each time we get a short term sell signal, the market manages to have a sizable rally.
I still have my hedge in place however as an intermediate term correction is imminent.
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