The largest mover thus far in a single month’s time is sugar futures, up over 16%.

As I’m a giant follower of climate patterns and have predicted climate might be an enormous issue on a number of crops this yr, one main concern for sugar is that the present El Niño climate sample will curtail world sugar output.

As well as, India’s ban on sugar exports will proceed to maintain world provides tight. This comes after India introduced a 50% export tax on molasses from sugar refining. Monsoons in India (Jun-Sep) fell 6% beneath common, the poorest monsoon rainfall in 5 years.

Moreover, the Thai Sugar Millers Corp, on November 1, projected that Thailand’s 2023/24 sugar manufacturing would fall by -36% y/y to a 17-year low attributable to a extreme drought.

I really like to look at sugar as a barometer for meals costs (it is in virtually each processed meals product) and as a bellwether for social unrest and inflation. People will struggle over sugar when there are shortages, and it’s not even Valentine’s Day but. As an increasing number of reviews declare inflation is over, the candy white stuff is value watching.

CANE, the ETF for sugar, has rallied into some resistance on the 200-day transferring common. Nonetheless, it has handily cleared the January 6-month calendar vary excessive, making the development greater for longer appear apparent. CANE outperforms SPY and, whereas momentum has been simply okay, with additional value rises, we might see momentum kick in.

On the March 2024 futures chart, 23.00 is assist whereas 24.00 is resistance. Most noteworthy is the notion of tremendous cycles. Sugar is a good instance of a 400% transfer greater since 2020, adopted by a close to 40% transfer decrease. And presently, a 20% transfer up because it reached the nadir of 20.00.

Volatility — sure — is the inherent nature of a brilliant cycle. Has the subsequent wave begun?

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Mish talks all about retail and inventory choose Abbvie (ABBV) on Enterprise First AM.

Nicole Petallides and Mish dig deep into tendencies and shares to look at for subsequent large strikes, as we’re in full January development mode on this video from Schwab Community.

On the Monday, January 22 episode of Your Each day 5from StockCharts TV, Mish sees the potential for customers to spend extra money, from self-help to weight-reduction plan, to make-up to skincare to trend — declaring a number of related shares and tips on how to commerce them.

Mish appears to be like at a collection of widespread devices on this video from CMC Markets, outlining their doable instructions of journey.

Mish joins Jason Perz on the Towards All Odds playlist, the place she covers all of it speaking the psychological recreation of buying and selling, commodities, futures, equities, technical evaluation, and macro.

Mish’s Market Minute on StockCharts TV returns, all new! Mish and Geoff Bysshe share how the highly effective “Calendar Vary” StockChartsACP plugin tells you who and what to consider, when to behave, and what to commerce. The brand new yr is a giant “reset” emotionally, and January units the tone for the subsequent six months AND the yr. Each month is “like an inning in baseball,” monetary reviews give attention to quarters, however analysts suppose by way of the primary half and second half of the yr. How will you harness this information to your profit? Watch to seek out out!

Mish presents a 3 half market outlook in these movies from CMC Markets. Within the first, Mish offers you an intensive outlook on which areas to spend money on for 2024 in simply 4 and half minutes. Then, she examines whether or not the S&P 500 can hold rallying, and eventually, she investigates the place 2024 might be the yr of the heavy metals.

Mish presents her ideas on plenty of commodities forward of the US CPI knowledge announcement in this look on CMC Markets.

On this video from CMC Markets, Mish continues together with her evaluation on gold, oil and gasoline, this time including the greenback/yen forex pair and her outlook on the greenback long term.

Coming Up:

January 22: Your Each day 5, StockCharts TV & Schwab Community

January 24: Yahoo! Finance

January 25: Reside Teaching

February 2: Cash Present Life with Chuck Jaffe

Weekly: Enterprise First AM, CMC Markets

• S&P 500 (SPY): 480 now the pivotal zone.
• Russell 2000 (IWM): 195 pivotal, 190 assist to carry.
• Dow (DIA): 375 assist.
• Nasdaq (QQQ): 408-409 assist.
• Regional banks (KRE): Again over 50 which wants to carry.
• Semiconductors (SMH): 184 assist.
• Transportation (IYT): 262 now pivotal.
• Biotechnology (IBB): 135 pivotal.
• Retail (XRT): Held assist at 65, however nonetheless must get again over 70.00.

Mish Schneider

MarketGauge.com

Director of Buying and selling Analysis and Schooling