22Aug1:21 pmEST

Light and Sweet, Buddy

Lost in the shuffle of some whippy action this morning in equities is strength in sugar and coffee. 

Sugar has been a leader among soft commodities for a while now, likely bottoming from a vicious bear market since last summer. Since then, we have updated the commodity periodically. 

Currently, looking at the SGG ETN daily chart, below, sugar is on the move up and out from a very tight and attractive consolidation. 

We looked at a chart of JO, the coffee ETN for Members earlier this morning. And coffee may very well put ripe to follow sugar higher into the autumn months, breaking from a massive rounded bottom. 

In the meantime, sugar over $47 on the ETN is threatening a textbook breakout into Labor Day, resuming a new bull run which likely began back in May. 

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