10/28/2020

Oct 28, 2020


10/28/2020
Today was correction day as it was risk off day in grains, energies and stocks.  Corn held the 4.00 support level, but will it hold tonight and tomorrow?  The next 48 hours will be important to see how these charts shake out.  The big question today is, is it over?  I doubt it's over.  This is a healthy correction for the markets and it was overdue.  We need to shake the tree every once in a while.  Now it's a matter of how long it lasts and how low we can go.  Covid headlines are back in a big way as we are setting records on new cases.  The election is next Tuesday, which is a major concern and unknown.  There is a lot of money moving to the sideline at the moment, which shouldn't be a surprise.  Let’s see what happens tomorrow and the balance of the week.
 

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