Corn's overall trend, revealed by trends of price, leverage, and time, are defined and discussed in The Matrix for subscribers.
The Evolution of the Trade maintains a core position of long for 7 months. I know recent price action has generated a lot of arm-waving lately, but that’s what price action without investment discipline does.
In terms of the EOT, nothing has changed. The daily trend is still down, and will need to flip back up to generate RESET. A viable RESET will be preceded or accompanied by a bullish energy build, or accumulation before the flip. We've seen some accumulation into the decline, but DI has yet to climb above 0%. A DI surge is important, because energy will be needed to fuel continuation of mark up. The composite trend may generate multiple RESETs before a viable or high energy one develops. Patience is important, but again don’t expect MSM or trading desks to show it.
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