The bears are destroying Orange Juice futures, while Coffee futures are at an all-time high. Soft commodities are super bifurcated at the moment.
The entire agricultural commodity complex is shaping up quite nicely. Corn and Soybean futures look poised to lead the way higher.
We're also seeing China's economy roar back to life. Steve's Breakout Multiplier system has been crushing it recently with the China trade.
But it's bigger than that. Their economy is a heavyweight champion, which has a considerable effect on the world.
We recently talked about Copper's long-term positive correlation with China. It's significant.
That's not it, though. Dry bulk shipping rates also stand to benefit.
BDRY is on the cusp of a new uptrend 👇
The Breakwave Dry Bulk Shipping ETF $BDRY is the only freight futures exchange-traded product exclusively focusing on dry bulk shipping.
It's a great way to get uncorrelated exposure to major asset classes. It also has a ton of juice.
From its 2020 trough, it rallied nearly 1,000% to the late 2021 peak. A 10-bagger in a year is a pretty sweet deal!
Earlier this year, the fund had its best day since Q1 2021. This was a short-term peak, but the price is coiling below it and looks poised to exceed it soon.
If and when BDRY closes above 6.75, the path of least resistance will shift from sideways to higher for the foreseeable future.
Moreover, If this product breaks out, we expect the price to skyrocket, and here's why.
As you can see on the y-axis, the volume-at-price indicator shows a lack of volume between the current level and the volume shelf at 10.75.
In other words, there aren't many bagholders above. We love trading vehicles that have little overhead supply.
This week, we're outlining a $10.3B engineering and construction company, MasTec $MTZ.
The company specializes in engineering, building, installing, maintaining, and upgrading energy, utility, and communications infrastructure for clients across North America.
It's riding the tailwinds of a national infrastructure upgrade in the United States.
The stock resolved a massive base last year and quickly hit the 161.8% extension level. Since then, it has suffered a corrective wave and is retesting the breakout level.
We think the buyers are about to regain control of the trend, and we're looking to ride it higher with them.
In addition, the risk versus reward is skewed in our favor at the current level.
Here's how we're trading MTZ: 👇
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