The Wall Must Fall

I think I speak for everyone involved if I say that it’s way past high time for this market to either breach the wall ahead of SPX 2150 or finally accept defeat and relieve itself to the downside. It’s become a war of attrition at this point as we have been suffering through this deadlock of a market for more than a year. And may I say – it’s getting not just boring but increasingly annoying. I’m fine with as sell off – I’m also fine with a ramp – just let’s get this show on the road, thank you very much.

Alright, I am feigning being a bit of a drama queen here as things are actually looking pretty productive now. Note how last night’s complementary stop run found a quick bid exactly where I had drawn support at 2106. I trust many of you will find yourselves magically relieved of what looked like perfectly positioned long campaigns yesterday afternoon. Frustrating – perhaps – but all that thrashing around is producing more and more context, which is what we need in order to establish a firm basecamp near 2100.

We tried a long position in soybean futures yesterday but it was taken to the woodshed overnight. Not being easily discouraged I’m trying this one more time with a stop beneath 32.1. If this one finally gets into gear it should be well worth the hassle.

And you ARE long corn, right? Just checking… 😉

By the way since we’re talking softs, I have a special goodie for my subs. Please step into the lair…

It's not too late - learn how to consistently trade without worrying about the news, the clickbait, the daily drama and misinformation. If you are interested in becoming a subscriber then don't waste time and sign up here. The Zero indicator service also offers access to all Gold posts, so you actually get double the bang for your buck.

Please login or subscribe here to see the remainder of this post.