Longer Term Setup in CORN

In tonight’s video, we build out a trade in Corn, based off of a few factors:

  • October freeze has led to less supply
  • Storms during the spring caused delays in crop planting
  • Delays + cold weather now make the crops susceptible to frost
  • Bullish market structure according to Market Pulse

The full article is available here on CropProphet, and is well worth the read (especially if you plan to look at CORN or /ZC as a position on your books).

After having a core theme to back our trade, we then look at our technical indicators (Market Pulse and V-Score) to help us build out a trade. Alternatively, you could also use the Simple Breakout Tool and wait for a confirmation signal.

Using our Futures Volatility Box, we had a total of 0 trades that set up today, for a net P/L of $0.

Earnings Corner

For our earnings play today, INTC proved to be the strongest and most consistent winner, which made sense given the statistics headed into the trade.

We were looking to go long INTC off of a gap up with an earnings beat, and then a continuation in the bullish direction. From the open, we were looking for at least $1.70 (+/- for target and stop).

We were given this target fairly quickly, and the trade worked according to our plan.

Resources:

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