Mish’s Daily: Besides All-Time Highs, What’s in DBAs Basket?
Mish’s Daily: Besides All-Time Highs, What’s in DBAs Basket?
Written by Michele ‘Mish’ Schneider
Not the first time I have given readers this list of leading indicators to watch for a potential rise in inflation:
Last week we focused on sugar.
For the weekend, we focused on silver.
The dollar, also on the list, trades under 103 yet into support.
Today, DBA the Invesco DB Agricultural Fund made a new all-time high.
DBA tracks an index of 10 agricultural commodity futures contracts.
Specifically, the underlying index includes corn, soybeans, wheat, Kansas City wheat, sugar, cocoa, coffee, cotton, live cattle, feeder cattle, and lean hogs.
Besides making new all-time highs, DBA is also outperforming SPY.
On Real Motion, momentum is picking up and has not been above the Bollinger band since July 2023.
While momentum is not quite there yet, we imagine should it clear the BB, it will be significant as price should be a lot higher than current levels. Big picture, tied in with our analysis on sugar future and why they are a key barometer to predicting rising inflation, so is this ETF.
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Mish in the Media
Singapore Radio Mish breaks down why certain bonds are worth watching and how risk off is a factor markets are now facing 03-08-24
Schwab Network with Nicole Petallides (Twitter link) Recording available next week 03-08-24
Benzinga Pre Market Prep Market thoughts and why Mish likes certain key instruments that could be the next big winners Begins minute 39. 03-08-24
Synergy Traders–How to Identify the Next Magnificent Leaders-A webinar-want to know more why outperformers outperform and how to profit on that? This is a webinar 03-06-24
Business First AM The Vanity Trade-brought to you on International Women’s Day-what will next consumer trends be 03-08-24
CMC Markets Where to bullish and where to be negative using short term and longer-term biases 03-06-24
Business First AM Money Pouring into Gold and Silver 03-05-24
The Technical Take Stockpick.app Mish debuts with a look at SPY Gold Silver and Warning Signs 03-04-24
Traders Summit with Blake Morrow Stock Pick and Market Predictions 03-04-24
Real Vision 3 Trades Holden and Mish talk Bitcoin, Ethereum, Solana and Coinbase with actionable information. 03-01-24
Coming Up:
March 12 Your Daily Five Stockcharts
March 15 Jim Pupluva Financial Sense
Weekly: Business First AM, CMC Markets, andnew to us-stockpick.app
ETF Summary
S&P 500 (SPY) 510 pivotal-as in below could see more correction
Russell 2000 (IWM) 205 area support to hold
Dow (DIA) 385 support 400 resistance
Nasdaq (QQQ) 435 key support
Regional banks (KRE) 45-50 range
Semiconductors (SMH) maybe ready to see levels back down to 208
Transportation (IYT) 69 area now support
Biotechnology (IBB) 140-142 resistance 135 support
Retail (XRT) 73 support
iShares iBoxx Hi Yd Cor Bond ETF (HYG) 77 big number to hold (still)
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