Sometimes it’s hard to know which cow to back in the race.  In this case looking at the charts it’s not difficult at all.  DBA is definitely lagging behind and is definitely not a hold.  MOO looks all right at the moment, but a close under the nearby low would throw it in question also.  Maybe 2 or 3% under for a stop.

We have not abandoned our basic economic analysis that commodities are the place to be over the next year or so.  Basic metals, rare earths, precious metals and yes, agricultural commodities.  That and trading strategies in equities.

As always the individual chart takes precedence over any opinion or fundamental analysis.