Don't Forget: This is Some Good Coffee

Lost in the shuffle of the AAPL TWTR and crude oil headline so far this week is the resurgence of coffee. 

Coffee (ETN ticker is JO) is finally taking a break today, which I view as something to be watched carefully for a lower risk entry. 

On the JO weekly chart, below, a rare but powerful "rounded bottom" pattern still looks to be very much in play, and jives with the generally bullish action seen in a bunch of commodities overall in 2016. 

Another one-to-three sessions of a benign consolidation in JO would see me looking for that entry.