I will be looking to short the Agriculture space by buying puts in [[DBA]]
Going through a few charts tonight, I notice Ag is ready to resume it’s recent downtrend. DBA, which measures the space, rallied above the 50 MA, but failed to hold. I will be now be looking for a break below the 200 MA with significant volume.
Also, the market is at a critical juncture. Let’s take a look at the [[SPY]] , which measure the S&P 500.
Last week we saw a clear break in our recent trendline, then Friday we saw a re-test back to that same level. I will be watching to see if we can clear 130 with significant volume.
If we fail to move past resistance (recent trendline), I will be looking to short the market.If you enjoy the content at iBankCoin, please follow us on Twitter