Today we got to the good support at 12,777. If that doesn’t hold, the next stop is 12, 581.
If the 12,777 does not hold with reasonable level we could easily take this to 12,600. 12, 582 is the 62% Fibonacci.
We could see that level tomorrow. The total lack of buying has me wondering if we can’t go down to the June low at 11,852. That would completely negate the 1600 pt rally we saw from the June lows up to the October 5th high at 15,999.
Going into tomorrow’s USDA report, I own wheat bean and corn calls, looking for a bounce higher.
Crude oil is 5.00 away from the support/ buy area at 80.00 barrel. I’d have resting orders to buy it there and I’d be short now.
CER