For Commodity fans, it's worth pointing out that the EU's Anti-Deforestation law signed last June runs out of its transition period, apparently in mid-December.. (This law aims to ban products like coffee, cocoa, Palm oil and Rubber that have been grown in areas of deforestation from being sold within the Bloc) Thus, Coffee and Cocoa stored in the EU could be deemed Non-compliant. The ITC warned that this inventory would need to be sold outside the Bloc, or destroyed. (Financial Times) Following an already extreme year of weather which caused both Coffee and Cocoa to break out to 40-plus year highs, it's worth noting that patterns on both remain extraordinarily bullish given these long-term base breakouts and no evidence of proper "peaking out" in price. The Generic Cocoa contract, shown here, has merely consolidated, but i expect this pushes back to new highs into early 2025. Unfortunately there aren't many ETF's which are liquid which can help investors participate in this price action, outside of the Futures market, but it's worth putting both of these in the spotlight. (CC -0.51% 1)

I'll discuss this more this evening, but the breakout in many Cruise liners is worth paying attention to, as this group is a leading performer within the Consumer Discretionary sectors comeback lately. Both CC -0.51% l and NCLH -0.47%  have broken out to new yearly highs today but remain well off all-time highs. Today's breakout in CCL is very bullish for this stock near-term, and should help this extend technically given its structure since May for reasons that many Fundamentally oriented will be at a loss to explain.