The grains are in full-blown rally mode. Not sure how much has to do with Russia & any current or potential future sanctions (as they are a major wheat producer & maybe the US will agree to kick-in supply to European allies that agree to impose sanctions against Russia). Either way, the commodities bull rages on & I watch nearly each & every commodity every day to help figure just how aggressively the Fed will need to raise rates in an attempt to curtail what is clearly run-away inflation.

$950ish is a major reaction high & potential target for $WHEAT & there’s also a fairly well-defined uptrend to either buy pullbacks to and/or stop out/sell short if/when it breaks. Here’s my weekly chart.

Apple & Amazon, and probably TSLA as well, are certainly here to stay for at least the foreseeable future. However, don’t confuse a great company with a bullet-proof stock price. Over the years I’ve highlighted (and predicted) many corrections that measured well into the double-digits, even mid-to-high double digits in the market leader (AAPL, the world’s largest publicly traded stock).

Those big corrections & bear markets were telegraphed in advance by technical analysis & they always leave the fundamental analysts scratching their heads & eating a lot of crow with abysmal price calls & buy ratings that didn’t come close to panning out. All those market leaders have had big corrections & bear markets before & will again, that is one of the few certainties that exist in the stock market. If not in the coming months, at some point in the future AAPL, AMZN, MSFT, etc.. will all see double-digit corrections & bear markets.

TSLA daily & weekly charts below along with the previous daily chart I posted on Feb 2nd highlighting an objective short entry with a first target zone of 802-772 which has now been hit with the next sell signal to come on a solid break below it (TSLA closed on the bottom of that support/target zone today).