Here is a daily chart of the fund:
As the above chart shows, JJC is now trading above its 50 day moving average, which is one of the first stages towards a full fledged uptrend. For me to go long a stock, I would prefer for the 50dma to cross the 200dma.
A crossing of these two moving averages is a relatively arbitrary event, and it does not "cause" a stock to rise. It is, however, a sign that a stock has entered an uptrend.
Another aspect that caught my attention was the two recent spikes in volume. This fund normally trades about 30,000 shares a day, but today over a quarter of a million shares traded hands.
Finally, another development in regards to this fund is its recent strength even against other commodities, as measured by the CRB commodity index:
Not only is this fund rising, it is rising faster than most other commodities. If I am going to go long a commodity, it might as well be the one that is performing the strongest.
