I usually put little store in head-and-shoulder patterns because they pop up everywhere one looks, but the one that Corn has been tracing out for the last year is hard to dismiss. Beleaguered bulls will find little comfort in the specimen pictured, since yesterday’s hellacious plunge did not even bring it down to the neckline. From a Hidden Pivot perspective, it would take an impulsive rally exceeding the ‘external’ peak at 679.50 to abort the pattern. Failing that, Corn’s bear market could eventually hit 480.
