Your Oatmeal is Actually What Gave You a Case of the Diabeetus

To follow-up on a previous blog post, the overlooked sugar commodity may have actually led all commodities down into the abyss for years on end, gauging the multi-year chart. 

And now sugar may be leading the rally in commodities in recent sessions. 

While all eyes are on crude, gold, silver, even copper, very few are on sugar. 

Updating the daily chart for the sugar ETN, below, as a proxy more so than a trading instrument, note the reversal today at the upper Bollinger Band after a steep snapback rally. 

Commodity bulls, assuming the sugar relationship is intact, will now want to see a meaningful higher swing low next week after a likely pullback/pause here and perhaps with commodities in general.