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Frequent Contributor

Start of another Bull Run?

Just looking over the grain charts and they all appear to be negative if one was just a beginner. I;ve been around for a while and watched  the market, games, play out. I got out of my longs a little ways back. I reentered some long corn today. The charts for the grains and metals all look about the same. They have all corrected, is a nice way to put it. The grains have especially corrected right to the gap area and have found support and all three seem to be getting ready to rally.in unison I am wondering what some of you other market wizards think. The Soybeans were right down near the gap area and seem to starting a little rally from here. Wednesday's before Thanksgiving are known to almost always to be a up day for Soybeans. Thursdays and Fridays have been the up days for  the weeks lately too. I'm getting a lot of green lights here for a nice little rally to be coming up. I'm hoping that it isn't just hope and nothing else. The Silver market looks posed for another run too! I would appreciate any one else's insight whether it's opposite of mine or not.  How about it, Bull or Bear from here to Thanksgiving? Bull here. Hope it doesn't turn to crap.

 

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Senior Contributor

Re: Start of another Bull Run?

I'm looking at the same formation in the corn and the U.S. $ although being inverses.  It appears as though we're forming a head and shoulders in both.  Obviously if we make a new high in corn and a new low in the dollar, then the formation doesn't get established.  While I agree that we'll see a little rally in here, I'm not at all in the bull camp unless new highs are made.  The safer play now might be the spread game between old crop and new crop in both corn and soybeans considering both are extremely inverted and we may not have enough acres to go around considering USDA's lofty demand figures. 

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Member

Re: Start of another Bull Run?

This looks like a head and shoulders.

http://www.mrci.com/pdf/dji.pdf

 

Should link to the Dow Jones chart. Possibly with a downward slant.

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