Home > commodities, equities, market analysis, technical analysis > Wheat, CRB, fertilizer stocks, USD, 200 day moving average & chart porn

Wheat, CRB, fertilizer stocks, USD, 200 day moving average & chart porn

If you haven’t heard:

Wheat prices are at a 2-year high… up 50+% in July alone!… which has undoubtedly taken fertilizer stocks (POT, AGU, MOS, etc) higher by ~25%

Source: stockcharts.com

CRB – the ubiquitous commodities barometer is at a 7-month high – battling strong resistance

Source: stockcharts.com

Baltic Dry Index has turned up 10%

VIX is below the 200 day moving average

Source: stockcharts.com

S&P 500 is trying to hang on to crucial support at 200 day moving average…

Source: stockcharts.com

US Dollar index is barely hanging in at the 200 day moving average

Source: stockcharts.com

Oh and lastly… the Shanghai stock market as a leading indicator of leading indicators… what a joke!

What does this all mean? The next days/weeks are crucial to get a sense of market direction… i think markets are at an inflection point and could either way from here… tighten your belts!

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