From the Desk of Ian Culley @IanCulley

Commodities love the falling dollar.

Crude oil is breaking to multi-month highs. Copper is approaching the 4-dollar level. And Silver is ripping!

I’ll have more on the precious metals front Monday with your weekly Gold Rush.

Today, I’m focusing on the grain and livestock markets. The dropping dollar has helped line up a long list of fresh trade ideas: potential failed breakouts, possible failed breakdowns, and critical levels to trade against…

Let’s get to it!

First up – It’s corn!

Corn – Failed Breakdown?

We might have a failed breakdown on our hands…

Corn futures broke down to their lowest level since early 2021 only to quickly reverse higher.

Check out the Dec. contract:

I like giving Dec....

From the Desk of Kimmy Sokoloff

That was a nice pop for the market this morning, and then a quick fade up until lunch time.

Consolidation would be healthy.

We've adjusted a position in the Paid-to-Play portfolio today:

Today’s Hot Corner list is a short one.

Mubadala Investment Company, a sovereign wealth fund of the United Arab Emirates, filed a 13D for NextDecade Corporation $NEXT revealing an initial stake of 9.00%.

From the Desk of Kimmy Sokoloff

We had a few banks report earnings this morning, and they're all ticking higher.

The S&P 500 did touch the 4,500 zone yesterday.

I think a cool-off would be warranted soon.

These are the registration details for our LIVE Mid-month Conference Call for Premium Members of All Star Charts.

Our Live Call will be held on Monday July 17th at 6PM ET. As always, if you cannot make the call live, the video and slides will be archived and published here along with every other live call since 2015.

Here are the details for Monday night:

From the Desk of Steve Strazza @Sstrazza and Alfonso Depablos @AlfCharts

Welcome to The Junior International Hall of Famers.

With the goal of finding more bullish setups, we have decided to expand one of our favorite scans and broaden our regular coverage of the largest US-listed international stocks, or ADRs.

This scan is composed of the next 100 largest stocks by market cap, those that come after the top 100 and are thus covered by the International Hall of Famers universe.

Many of these names will someday graduate and join our original International Hall Of Famers list. The idea here is to catch these big trends as early on as possible.

Let’s dive right in and check out what these future big boys are up to.

This is our Junior International Hall of Famers list:

Click table to enlarge view

We filter out any laggards that are down -5% or more relative to...

From the Desk of Ian Culley @IanCulley

"Sell the two… Utah! Sell the two!"

I’ve parroted my bond outlook during internal meetings and across our Slack channels in recent weeks, partly in jest but mostly to highlight the underlying uptrend in rates. 

Honestly, I’m not crazy about selling the short end of the curve, though I believe there’s a trade there.

Instead, there are far better opportunities with longer-duration bonds.

Shorting bonds isn’t the most popular play with the Fed and the dollar and the CPI… 

But that makes me like this trade even more, especially when I put the headlines and the dominant narrative aside and simply focus on the charts…

Check out the 10-year yield $TNX:

The US benchmark rate remains within a well-defined uptrend, resolving higher from one bullish continuation pattern after another. And it’s showing no signs of a trend reversal.

From the Desk of Kimmy Sokoloff

This market is on a tear and making new highs.

$SPX hit 4,500, a new milestone.

We're extended, but we can stay this way for a while.

We've adjusted a position in the Paid-to-Play portfolio today:

Today’s Hot Corner list is a short one.

KGH Ltd filed a 13G for Diamond Offshore Drilling Inc $DO revealing an increase in its ownership stake from 7.15% to 7.50%.

From the Desk of Kimmy Sokoloff

We have PPI coming out this morning at 8:30 a.m. ET and a few Fed speakers on the schedule as well.

It looks like $SPY will probably touch 450.

Today, like yesterday, I'll probably be looking for counter-trend trade shorts. It's harder at this point to find longs.