18Aug3:49 pmEST
A Rotation Day...and Corn
Amid quiet indices, it was a good day to let hot but crowded names like TWLO unwind a bit, instead focusing on the rotations into energy, select tech, and even chemical plays.
Indeed, many energy and chemical plays are on the cusp of meaningful breakouts if they can sustain their recent progress, building on last week's failed breakdown in crude oil.
Beyond that, corn is building on its hammer reversal candle last Friday, seen below on the daily chart for the ETN. Volume is coming in, and I think corn has a good shot at putting in an interim low here.
More after the bell.
A Quiet Summer Day from Afar... Stock Market Recap 08/18/16 ...