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Today we will be covering...
Today, we will examine the agricultural commodities and stocks.
DJT’s comments on the progress in tariff talks and making $$$ for the US did not help much, the stock market indices ended about 2.5% down.
Or, did “fears” of Trump firing Jay Powell prevail?
Archer-Daniels-Midland Co (ADM)
Agricultural commodities had a few rough years.
However, their strong 5-year cycle is turning up (see our analysis of wheat, corn, and soybeans in the Pro newsletter).
ADM is significantly oversold and its dominant weekly chart cycles suggest that a reversal may be imminent.
Additionally a potential reversal in agricultural commodities a wind in the back of ADM.
Sentiment & Technical Analysis
The CNN’s Fear & Greed Index is still in Extreme Fear.
Despite a very weak market, it actually improved slightly from 21 to 22, but can not infer much from that.
NDX is still in the downtrend, as mentioned on Sunday (read Sunday notes on SPX and NDX).
NDX is correcting that huge one-day gain and retesting the April low.
My primary expectation is for NDX to rebound soon from a not much lower level (see the details in the Pro newsletter).
I sketched the preferred path with the green and red arrows.
The ideal target for my preferred path is the confluence of 61.8% Fibonacci retracement level, and declining 100D and 200D MAs, in the orange technical resistance range.
Do you prefer to be long when US assets are cheap or expensive?
BraVoCycles on X
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