April 21, 2026
Mish's Daily
By Mish Schneider
X is back @marketminute!!!
We’re seeing a potential rotation out of metals… and into food commodities.
And one ETF to watch?
Invesco DB Agriculture Fund (DBA)
DBA tracks a basket of grains and softs. That includes wheat, corn, sugar, the essentials.
Now here’s the setup.
Support comes in around 26.80. (Note this is a weekly chart)
If DBA can hold that level, this could be a move to 40 this year.
But this isn’t just technical.
This is macro… and it’s powerful.
A potential mega El Niño is forming, possibly the strongest since the 1877 event that devastated global food supply.
Scientists watching this?
They’re getting nervous.
Add to that:
War has disrupted fertilizer supply.
Farmers are already behind.
And drought conditions could tighten supply even further.
So regardless of rates…
regardless of the dollar…
Food is non-negotiable.
And when supply gets tight?
Prices move.
Bottom line?
Keep your eye on DBA.
Because food commodities may be the next big rotation in this market.
Note that this is different than our other YouTube channel featuring the Economic Modern Family.
Here is our latest EMF video
That is for financial literacy.
Mish’s Daily of Mish’s Market Minute on the MarketGauge YouTube channel under “shorts” is meant for the more serious self-directed investor.
They do, however, overlap.
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Mish in the Media-Want to see more? All clips here
April 17 Business First AM Will the Market Establish a Trading Range? Mish picks Stitch Fix-here is why
April 20 Wealthion Inflation, Recession or Both
Coming Up:
April 22 Maggie Lake
April 23 Pre Market Prep
April 23 Financial Compass
April 24 Financial Sense
ETF Summary
(Pivotal means short-term bullish above that level and bearish below)
S&P 500 (SPY) 694 key to hold after a nasty reversal
Russell 2000 (IWM) Possible nasty reversal after all time highs-267 key
Dow (DIA) 480 pivotal
Nasdaq (QQQ) 629 support and 640 pivotal
Regional banks (KRE) 72 resistance with 68 support
Semiconductors (SMH) 448 pivotal support and could fall if IWM does
Transportation (IYT) 79 now support
Biotechnology (IBB) Lots of resistance at all time highs or around 179.
Retail (XRT) 84-85 now key to hold
Bitcoin (BTCUSD) If holds over 74k see 88k next
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