As the saying goes, "The trend tends to go further than you think"

Not a peep out of the bears today, on the 'high inventory stocks of cpo...' Bulls looking for a 'reason' why prices are up.

30 min cpo futures.

Feb13Mar13 FCPO spread..

15 min fcpo...
Confirmation bias is the phenomenon that a trader's position will cause that trader to focus on news/reasons to support their position's market view. We see it all the time for example those who shorted into the 2% rally in fcpo on Friday, today would focus on anything and everything to corroborate and justify their bearish view.

On Friday, the shorts were caught with their pants down... Today the longs are being caught with their pants down...

Trend up was advanced on the 5 min timeframe....

Engulfing bullish candle right at 20 ma...

5 min fcpo...

Sideways coiling of the spring...

Small afternoon opening gap, the 3rd gap...

It seems the balance of power are with the longs today...

Bagged some bears...

Overdone in 5 min timeframe?

5min downtrend...

On a 5 min uptrend unless the lows are taken out...

Hits the 5 min 100 mov avg...