As I complete another round of monthly analysis, the reality is I continue to “lose my religion” as it relates professional to classic technical patterns.
The reality is algorithms are not programmed to follow the classic patterns we learned decades ago, meaning our analysis of trend (price direction over time) needs to evolve.
That being said, I still see some interesting developments on the long-term monthly charts for Teucrium CORN, SOYB, and WEAT funds.
As a new year gets under way I want talk about how I’ve “lost my religion”professionally, figuratively speaking. You may be familiar with the story of how I got into this business: My fascination with what factors came into play during the stock market collapse of October 1987. From there I would get my Series 3 license and go to work at a small brokerage office in Wichita, Kansas. A gentleman named Ray Fritzemeyer became my mentor and introduced me to the world of technical analysis. One of the first things I did, with what little money I had as a young broker, was buy John J. Murphy’s book “Technical Analysis of the Futures Market” (1986 edition). It has been on my desk since, or roughly 35 years[i].
