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Pop in Agricultural Commodity ETF


Pop in Agricultural Commodity ETF
By Mike Paulenoff, www.MPTrader.com

Not much of anything going on in the equity or bond markets since the FOMC announcement, however, in geenral, the equity market appears bid, while the bond market appears offered for the time being. Perhaps the most important reaction to the FOMC statement has been the climb in euro/$ from 1.5540 to 1.5640, which has popped the grains (wheat, corn, beans)... which in turn has popped the DBA (DB Agricultural Commodity, ETF) to test near term resistance at 41.00. If hurdled, let's expect the DBA to surge to retest the June high at 41.42. See our chart.

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