The CRB is actually below it’s 200 day moving average. Obviously the decline in oil has had the most significant impact. The copper implosion has not helped
I am not trading off this (long USO), but it is the first time in FOUR (4) years that the index has traded below this average.
I consider this significant from a trend perspective. It’s dangerously close to over no matter what timeframe you trade.
On to the next great trend – pssst….Looks like a good year for FRUITS (Apple that is).
Disclosure – Long USO and Long Apple