Bonds, biotech, the banks; or is it corn that’s the catalyst?
Everyone’s focused on the markets, the S&P 500.
Meanwhile, back at the farm (literally), the food supply is undergoing controlled demolition.
If the supply chain continues to be restricted with prices rising ever higher, the silver and gold ‘stackers’, may have to liquidate their hoard just to survive.
Getting back to corn; the technical position of the ETF, CORN was highlighted yesterday in this post.
Now, with about an hour before market close, CORN has posted a 38% retrace and reversal ( if close is at or above current levels).
On top of that, it may be too early but maybe not. CORN is now trending upward at over 400%, annualized.
One day, does not a trend make. Then again, wouldn’t it be nice to know early on of the possibility?
Charts by StockCharts