CHART OF THE DAY: Corn prices rise above $8 per bushel for the first time in 10 years (and quickly approach an all-time high) as the Russian invasion of Ukraine threatens global supplies | #OATT 🌽👩‍🌾🚜 pic.twitter.com/l7EshVXy3Z

— Javier Blas (@JavierBlas) April 18, 2022

This is an important chart from Bank of America.

It shows that the Fed continues to tighten until it breaks something almost every single time in the past 50 years. pic.twitter.com/GSqKIiwkLS

— Avid Commentator 🇦🇺 (@AvidCommentator) April 18, 2022

During this decline, Fibonacci retracements have worked well.

As this chart shows, the SPX bottomed on Feb 24, the day the war started, in dramatic fashion (big bar).

The index is now at the 50% retracement level (4,373). Will this level hold, or give way to much lower prices? pic.twitter.com/KnuWjMHBNV

— Jim Bianco biancoresearch.eth (@biancoresearch) April 18, 2022

Some thoughts on BTC/tech correlation:

Whether you agree with this framework or not, BTC has been correlating strongly to tech. (top left)

However, underneath the surface, we are seeing accumulation from convicted long-term investors. pic.twitter.com/1uep2LAjop

— Will Clemente (@WClementeIII) April 18, 2022

The ES traded on both sides of the first hour's range & then began a steady move lower. The uncertainty before the 3 day holiday weekend & the monthly expiration caused the downward pressure. Above 4405 or below 4352 can give a directional move. Pivot=4397 #ES_F $SPY pic.twitter.com/Boo7oxk9DQ

— Damon Pavlatos (@DamonPavlatos) April 18, 2022