Corn & Wheat Remain Very Strong

In a market that hasn't been kind to trend traders, corn and wheat are two commodities that are in very strong uptrends and should continue to be monitored for a pullback entry. They are still overbought but I've outlined the areas below where I may start to get interested . The RSI has been very strong and I'll be watching for a pullback to the 40 level, but it may not make it that low either. Generally when a market is as strong as these two you have to choose a level of support and use the RSI as a confirming indicator.

As far as the general markets go it's gone from watching a game of ping pong to a market that isn't pulling back to give entry on select momentum entries. It's starting to feel like a “plug your nose, buy stocks, and hope for the best” market. I'm not actually advising that strategy but that's what it feels like would have worked these past few days. Be patient and don't trade outside of your plan and eventually there will be a pullback that offers a chance to grab some stocks.