Hi, Trip

You're right! And also add TIMING! Now that we've had an extra couple of days, I can feel more comfortable that the recent action was not a one-day fluke, but had enough hits to shift my old trend line to a new pattern. It also allowed me to think we might be seeing a shift to a new emerging uptrend. But we needed the last few days price action to see it happening - at least, in my subjective eyes. Yesterday, of course, we saw the thundering herd (funds) really dumping in a number of markets. Yikes! Some of those price drops! I found it interesting that wheat held up pretty well in comparison to the rest of the grains, especially the soy complex. Wheat's fundamentals in the world supply and demand situation appear to give it the best potential for long-term growth. Soy is the weak sister in that arena. It just becomes a matter of watching the S&R lines, to determine where to slip in the trades. In the near term, I'll be favoring long trades in wheat and short trades in the soy complex, and maybe try to pick up some of Tom's scalping techniques in corn. In my current trade, it's a timing issue. Will I get stopped out at B/E today, and then re-enter the market with better timing, or will I survive the current profit-taking and short-covering by the funds? If they continue to dump beans and corn, that will probably drag wheat along with it to some extent - but less dramatically!

As a side note, what do you make of the RSI as relates to the chart lines?

This has been fun - thanks for swapping a few ideas.

Good $$$$ to you,

Joe