#$corn

Here are some of the most noteworthy highs and lows from across the markets for Friday, August 7, 2020.

SPDR Gold Shares $GLD Hitting All-Time Highs

U.S. 30-Year Fixed Mortgage Rate Hits All-Time Low

20 Years Later, Qualcomm $QCOM Finally Hits New All-Time High

Corn Testing ~13-Year Lows…Again

Biotech ETF $IBB Testing Breakout Level At Former Highs

If you’d like to see these charts as they come out in real-time, follow us on Twitter and StockTwits. And if you’re interested in the daily “all-access” version of all our charts and research, please check out our site, The Lyons Share. You can follow our risk-managed investment process and posture every day — including insights into what we’re looking to buy and sell and when. Thanks for reading!

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Here are some of the most noteworthy highs and lows from across the markets for Friday, April 24, 2020.

Gold & Silver Index $XAU Hitting 7-Year Highs

Crude Oil Volatility Index $OVX Surges To All-Time Highs

Euro Banks Trading At All-Time Lows $SX7P

CRB Commodity Index Hits At Least 25-Year Lows

Corn Testing >13-Year Lows

If you’d like to see these charts as they come out in real-time, follow us on Twitter and StockTwits. And if you’re interested in the daily “all-access” version of all our charts and research, please check out our site, The Lyons Share. You can follow our risk-managed investment process and posture every day — including insights into what we’re looking to buy and sell and when. Thanks for reading!

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After a decade-long “drought”, grain prices may finally be showing signs of sustaining a rally.

Since the commodity blow-off about 10 years ago, hard assets have basically been dead money. Although, there have been fits and starts along the way, that market has struggled mightily to maintain any semblance of a rally. And experiencing as much adversity as any group in the commodity complex has been the grains.

The grain market (as represented by the S&P GSCI Grain Index) actually challenged its 2008 highs back in 2012. However, it was promptly rejected, sending prices all the way down to its decade lows by 2014. Over the past 4 years, the drought in grains has been especially harsh with prices unable to budge much at all off of the lows. Yes, there have been rally attempts during that time. However, every bounce has been immediately and swiftly beaten down like a game of agricultural whack-a-mole. Until now…maybe.

Looking at a chart of the GSCI Grain Index, one can draw a trendline connecting the tops of all of the failed rallies over the past 4 years. In our #TrendlineWednesday feature today on Twitter and StockTwits, we highlighted that trendline because, for the first time in 4 years, prices are attempting to break above it.

Note how the index has already made 3 stabs at the underside of the trendline this year, with the latest attempt seeing prices inch above the line. This is in contrast to all of the failed attempts of the past 4 years when prices immediately retreated, usually giving back the entirety of their preceding gains. This is a positive sign, even if prices do not immediately follow through significantly to the upside.

Now there are reasons to be concerned about sentiment and seasonality when it comes to some of the individual grain markets. However, recent action has signaled a change in character in the grain market and may finally result in good news for long-suffering agriculture bulls.

TLS members, stay tuned to our Daily Strategy videos for more information involving grain sentiment and seasonality, as well as our strategy for taking advantage of a potential budding grain rally.

If you’re interested in the “all-access” version of our charts and research, please check out our new site, The Lyons Share. You can follow our investment process and posture every day — including insights into what we’re looking to buy and sell and when. Thanks for reading!

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After sprouting past key resistance earlier in the month, grain prices are testing their breakout levels -- is this the buying opportunity bulls have been waiting for?

Grain prices have been in a drought (figuratively speaking) for the better part of a decade. In early July, we noted a seemingly key breakout in the beleaguered complex. Specifically, the S&P GSCI Grain Index had broken out above its post-2014 Down trendline, potentially opening up more considerable upside for the index, finally. That said, as we noted in a Premium Post at The Lyons Share, “on a short-term basis, it has probably gotten a little ahead of itself and we’d wait for a bit of a pullback before pulling the trigger.” Now may be time for investors to pull that trigger.

That is because, following a pullback over the past few weeks, the Grain Index is back testing the top side of that broken trendline.

On the theory that former resistance *should* become support, this may be a nice entry point for grain bulls, from a risk/reward standpoint. Yes, this is mere isolated data point in a market with a complicated set of price influences. However, as we noted in that Premium Post, there may be other factors going for grains here as well.

In a new Premium Post at The Lyons Share, we review those other factors, revisit our favorite of the individual grain markets and lay out how to play this potential opportunity.

If you want the “all-access” version of our charts and research, we invite you to check out our new site, The Lyons Share.

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In the midst of a decade-long “drought”, grain prices may finally be perking up..

During the commodities boom 10 years ago, among the darlings among speculators were the grains. However, like any market that becomes the object of such investor exuberance, grain prices soon withered. They have spent the better part of the decade since in a steady decline. There have been a number fits and starts along the way, though. And while each of the prior price spikes has been a head fake, another attempt is underway at the moment.

Obviously there is much work to do in order to reverse the longer-term trend, however, the S&P GSCI Grains Index is seemingly breaking an important line of near-term resistance in the form of the post-2014 Down trendline (on a logarithmic scale).

So will this trend break finally lead to a long-awaited, more durable bounce in grains? Or is it destined to be just another fakeout? In a premium post at The Lyons Share, we address that issue. Additionally, and importantly, we take a look at each of the major grains separately to see if any of them stands out as having a more favorable setup than the others (one does).

If you want the “all-access” version of our charts and research, we invite you to check out our new site, The Lyons Share.

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Reiterating my Call on Agriculture $DBA $WEAT $CORN

I have been talking about the AG’s since the start of the year. You can see they are starting to make the moves alongside the metals here with DBA, WEAT, and CORN, all breaking out.

Reiterating my Agriculture call for 2017.

I had subscribers in these a while back actually and the moves are starting to be made.

WEAT – Wheat Breaking out and bottoming.

CORN – Corn Breaking out and bottoming.

DBA…

When I drove from Cleveland to Lima last weekend I went past 100 miles of corn fields.  Nothing but stumps of cornstalks cut off 1 foot from the ground.  So this may seem like a silly question months after the harvest.  But farmers and speculators trade corn all year round.  And with farmers now preparing their financial books for the coming planting season what better time for the Corn to start popping.  Will it?

The chart below tells the story.  After a peak early in the growing season last year, Corn started to move lower.  It took 3 steps down, a 3 Drives pattern, with the third leg getting a bit messy.  At the end of August the price had dropped over 25%.  A 3 Drives pattern would look for a reversal there.  And it did, sort of.  Over the next 6 weeks Corn recovered nearly 38.2% of the move lower.  But since mid-October it has stalled.