It appears as though we are still consolidating today, as opposed to seeing a high energy upside breakout after the past few days. Particularly for swing traders, your price entries do matter and often play a role in how well you can patiently sit through each digestion. After all, bull runs take the stairs up, not the express elevator. Thus, there will be plenty of days before we reach the top where it seems like we are topping, but in reality we are just slowly grinding higher.
Inside 12631, we are in quite a few long swing trades from lower prices and are sitting tight during this consolidation. The focus remains on looking for continued rotation to other parts of the market setting up and re-setting behind the leaders, such as fertilizers like CF MON MOS SQM.