Bulls are firmly in control so far. Buying on dip in the morning is current theme. Although it hasn't set a new high for the last 2 days but it's building energy. I didn't have any fill for ES today since it was in a smaller range.
Grains are down again today. Wheat and corn are in deeply oversold territory on daily but weekly RSI and MACD appear to have more room. My impatience entry of wheat 625 put yesterday slapped on my face today. It reached $20 of my target price today. Wheat's next target is Fib 78 at 595. Corn is right at Fib 62 of $458. I am fine with my positions of SB but deeply underwater in wheat. I tried to sell calls on wheat and corn but didn't get even a small bounce. USDA'S planting progress report was in favor of bigger production yesterday.
No trade in energy market. I am waiting for inventory report for CL tomorrow and NG on Thursday.
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