#Corn Review $CORN #ZC_F
Trading noise, the random movement of price over the short term, does not control trends, cycles, and profits. The majority, an emotionally driven group focused solely on price, often interprets it as meaningful information. This leads to confusion, frustration, missed opportunities, and leaves the majority as the bag holders of trend transitions. The Evolution of the Trade helps investors stand separate from the majority.
Corn’s overall trend, revealed by trends of price, leverage, and time, are defined and discussed in The Matrix for subscribers.
The Corn Report, a series of videos, extends the discussion in greater detail.
The majority – Ag Twitter, CNBC, Main Street, Wall Street et al., is turning bearish on commodities – energy, agricultural commodities, and grains. We generally ignore acreage, crop ratings, weather forecasts, USDA reports, local insiders, or other widely quoted fundamentals. The invisible hand discounts domestic and international events that look past the widely accepted consensus. The observation often draws ire from investors, traders, and producers that do not understand the invisible hand. The inability to track it, and the obsession to tell it what should be happening leads to unexpected rallies and breaks anticipated only by a small minority. This is and will always be the game. No amount of teaching will change it.
Today’s review compliments the Corn, Commodity & Energy, and Economy & Stocks Reports.
The ProIndex has been showing consistent professional money buying the rally, but it failed to break out to higher highs.
Recent selling has the corn bulls worried. Corn’s primary trend has been up for 28 months. The computer flagged the impulse as PDT2, a second degree monthly cycle extension, months ago. The computer will no longer show Resets (R) once the primary trend enters PDT1. This prevents adding fresh money to an aging trend.
The CRB Spot’s primary trend turned lower in October 2022. This has been an ongoing topic of discussion in the Commodity & Energy Report. Selling will be difficult to reverse in all commodities until the CRB Spot trend flips (LTCO > 0).
Selling, a backdrop viewed as infinite by the bulls as price declines, follows cycles. Flipping the CRB Spot, thus, reducing or reversing the selling across commodity markets follows the economy and cycles. Both the Economic (Economy & Stocks Report) and Commodity Cycles are approaching an inflection point in 2023.
The Economic Cycle, which many will deny, is far more bullish than the majority realizes. The Economic Activity Composite (EAC), a real-time indicator of marginal economic activity, has already cross above 0. The EAC is responding to a sub cycle within a broader economic cycle. The bears should be more worried about what’s coming in 2024 than 2023. 11/09/22 Report – LT, Cycles, and Delusions was the first update to discuss why 2023 would expose many of today’s delusions.
Economic Activity Composite
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