What comes after a sugar high?

Sugar futures are down about 20% in one month (ahem):


Look at that contracting triangle last fall — it is a thing of beauty and foretold higher prices, especially since DSI was only 20% by the end.

Let’s put this in perspective:


I was stopped out of my short from 29 cents at 24 last week after tightening the stop too much. Once more the market schools me to let my winners run. I’ll be looking for a re-entry before long since there is a lot of dowside left.


Here’s an earlier post from last fall with some historical charts.

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