Equities rallied today. Considering how oversold the market has been, it was bound to happen. The real question is whether or not this is the bottom for this bear market.

3 commodities and stocks today: lumber, copper, and agriculture.

Lumber / UFP Industries

UFP has been on an everlasting bull run - some crabbing in price along the way, but a general uptrend for almost 2 decades
Looks great for long position or position holding

UFP supplies lumber for housing and home construction
If CPI increases next month and unemployment ticks up, expect a correction
With home prices currently falling, it's likely stock price will reflect that as well

Copper / BHP Group

BHP stock price moves with the price of copper
Copper is interesting for its electric use, particularly in electric vehicles

I'm looking for entries in the shaded region
BHP price has bounced off 4 times from this support level (see red arrows above)
- This could either mark the bottom
- Or if this support level fails, there could be a major correction
Might be a good entry for a long position if electric cars take off in the next few years

Agriculture / Archer Daniels Midland

ADM stock reacted favorably when war in Ukraine broke out
- Scarcity in wheat and grains probably drove this stock price up
Still unclear if this is a true Head & Shoulders pattern
- The retest of the neckline was drawn out over a longer timeframe than expected
A higher-high above $92.27 would be bullish - if the war in Ukraine escalates, it could help drive up ADM stock price.

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