Market making strides?

Dow  has made it past 10,000 (again) with a nearly 300 point upday, and the S&P popped up a nice 32 points giving me solid gains on my /ES position.  Seems that trendline convergence I posted here seemed to be showing somethign after all.

Now if you look at commodities at all, you would have noticed the way wheat futures have sored recently; is it past key levels? Wheats rocketing up in the recent trading days seems to have passed  it easily through points of resistance from the past 5 months, as well as a fairly long term downward trending channel. 

Is now the time to buy?  If you ask me, not quite yet.  The volume in these recent days looks to be a tad higher than the norm, and if you take a look at the RSI indicator it shows signs of overbuying.  I think we might see these wheat futures possibly rise a tad more, but fall back its previous resistance levels of 512-520.  I do think that these will as a result shift to support, and promote further uptrending for this Ag Commodity.

- Krames