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Breakfast Report: Jan. 14, 2020


Chief Market Strategist at Blue Line Futures


Sugar continues to surprise to the upside with global production issues coming front and center. If we see an uptick in energy futures this could be the spark needed to take out some of the key levels from the past. Traders should be long from the high 13.70’s low 13.80’s and moving stops up to break even at this point.

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Orange Juice

The juice continues to sell off triggering shorts with the turtles but I am skeptical of how much more it can run this course. The fact that ADX is showing a strength could means this downward trend is setting up for a major fall out. Stochastics are moving into oversold territory confirming the bear market. OJ feels like it is tracking coffee.


The inside trading day had me slightly concerned that we would not get the breakout to the upside needed to continue this reverse head and shoulders pattern. Buy signals were given yesterday and confirmed today with the stronger open and first support is at 2535 with sell triggers down at 2429.


This is a textbook head and shoulders pattern with the one pause on the charts two sessions back at the 50% retracement. I would expect this market to move down to the major moving averages in the next few sessions.


The market is finally getting a pause but not delivering any sell signal on the charts. I would watch for another powerful move to the upside if we break through 72. Stochastics remain in overbought territory indicating the strong bull market.

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