Grains…
Soybeans are leading this rally as they led the first wave up 2 weeks ago.
Corn is still at resistance, however we expect this to give way to a rally to just over $7.

JJG…will be a good way to play this given it’s mix of Grains for the ETF crowd.
Closing over 53 should lead to a test of 55.

Spu’s…resistance is 1645-47.
SPY…resistance is 165.10-30.

AUD/USD…97.00-10 is resistance with resting stops above.
We’re looking for more strength here into mid-week.

Vix…14.90 is the 200 day mvg avg. We’ll monitor this level to see if it
matches up with resistance in the Equity indices the first time up.

30 yr. Futures…139 was our tgt for June, which was the Sept contract low.
A note to new readers…we always defer to continuation charts…meaning
we can still see that low in June, which will be close to 138 in the Sept. contract.

General Comments or Valuable Insight

I was a little surprised at how big the sell off was of Friday, but that’s what happens when trading gets thin late in the day and everyone wants to do the same thing.

In today’s world the market makers are computers and they just exacerbate direction.

This week will provide opportunity for the nimble. Be patient, it’s been a good couple of months to trade and we’re in no hurry to get involved.

Note…we always write a stop with any instrument we‘re interested in. As the instruments become profitable those stops should be raised to your entry level so you don’t lose money.

Short Term View…

Use the Chicago openings to help guide your trading.
It’s a new month and a new game.