I’ll post an update on SLV & GLD in a new post asap. Don’t have a strong read on the near-term direction of crypto but will take a deeper dive into the charts & may follow up with some charts if I see anything worth sharing.

As Yogi Berra might say if he were alive today: Higher rates don’t matter… until they matter.

I don’t have a strong opinion on IPI but here’s my daily chart with some key levels FWIW. I also took a look at the other fertilizer & ag input stocks and most have similar charts: In a solid downtrend well below their 200-day moving averages & in many cases, such as with IPI, below key downtrend lines. Therefore, the primary trend is still bearish although some, such as IPI, recently put in divergent lows on the daily charts & have rallied since then.

The fertilizer stocks tend to have a fairly high correlation so I prefer to see most setting up with bullish (or bearish) charts before going long (or short) any of the individual stocks in the sector.

While my opinion isn’t strong enough to warrant a position at this time, if I had to be long or short IPI for the near-term (weeks to a few months), I’d rather be long up to the resistance zone/downtrend line on the chart below. If long, a stop somewhat below that 20.52ish support seems ideal IMO.