Springing Into Action After a Dark Winter

I am reluctant to take on more commodity exposure into a long, three-day weekend, not to mention a jobs report tomorrow morning while the market is closed.

However, it is interesting to see the soft commodities finally stage an impressive rally, all the while the U.S. Dollar continues to work off its steep run in recent months. Recall that the sugar ETN, SGG, is the top-weighted holding in the DBA, soft commodity ETF basket. 

And the first daily chart, below, shows the rally from badly oversold conditions. Headed into next week, I have the softs back on my radar, depending on how they react to the likely volatile we will see after the jobs report in the futures. CORN JO WEAT are also on the radar. And, of course, how the Dollar acts on this pullback will be telling. 

As for equites as a whole, I will reserve the bulk of my analysis for my comprehensive Weekend Video Strategy Session on Sunday. 

Have a great long, holiday weekend, and I will see you there!