Volume-Related Selling in Corn

I have mentioned previously in this blog that some of the grains have shown significant selling on my Klinger Volume indicator. Note in the lower panel of this chart how powerful and sustained this phenomenon has become by the red line, indicating a somewhat dramatic shift in sentiment. I always couple this indicator with others, primarily an Exponential Moving Average, that tells me when price momentum shifts. When the two combine, it will be time to sell for longer-term traders. This is also a prime opportunity for swing traders who ride the tides and waves of the market seas. This chart shows corn. Soybean prices on the daily chart has shown a similar volume-based decline, but have turned up again over the past week. Corn, on the other hand, shows continued weakening, as seen in this chart. It may be significant also that prices have failed to reach prior price highs from two weeks ago, as shown by what appears to be a lower high in the top portion of the chart.