Corn's overall trend, revealed by trends of price, leverage, and time, are defined and discussed in The Matrix for subscribers.
Don't want to go into a long arm-waving review. Corn's setup reflects accumulation by the invisible hand, but its weekly price (BuS) and time (BuST), the latter statistically extended, has to be addressed at some point. Corn's weekly Time cycle (BuST) = 2.17 tell us that the odds favor it (line 23 column AF in the Trends Tab of Matrix). Price and time cycle extensions are addressed by turning daily and weekly uptrends down, then flipping them back up.
With that said, corn's energy build (DI and DI2) adds additional confusion. Why is the invisible hand accumulating so strongly when time is clearly extended? Nobody knows. What we do know, is DI and DI2 can easily go higher than 60% and 29%. In other words, the bullish energy build can get even more bullish. This often happens during consolidations.
Follow me on Twitter or Facebook for further discussion.
Market-driven money flow, trend, and intermarket analysis is provided by an Access Key.