Withstanding the Barrage

Sugar and soybeans, two of the better soft commodities in 2016, are bouncing back nicely today after recent pullbacks. If soft commodities as a group will continue their resurgence this year, I suspect sugar, whose ETN is below on the daily, will be out in front of the pack.

Considering the strength in the U.S. Dollar again, it is worth tracking which commodities in general buckle under that pressure and which hold up well, even thrive. 

And as you can see, not only did sugar withstand the barrage of the Brexit sell-off well, it it holding well above it prior major bottom breakout and is threatening to cement a higher price low now to advance the notion of a major inflection point. 

Elsewhere, the S&P 500 Index is dealing with the 2000 level, as S&P futures toy with the limit down lows from last week. Volatility ETFs are notably subdued today, which is a topic I will address for Members in my usual Midday Video.