I hear all this talk about why stocks are bullish…
…and why stocks could be bearish.
And even a lot of talk – including from yours truly – about the precious metals. But there’s not much out there that I see as far as commodities getting a tout. Maybe that will come after CRB is the majority of its way to target.
Could it be because last year’s herd of inflation-o-phobes and bond bears have been turned into this year’s ‘no inflation as far as the eye can see’ herd? Why yes it could.
So while everybody’s either greedy about, afraid of or FOMOing over the US stock market at nose bleed highs (as per the Christmas Eve massacre close out theme) or desperately trying to keep the gold herd lathered, what about the CRB index?
Sure, it’s just a daily chart and the major trends are down, but it has broken a neckline and now has a target loaded per NFTRH 580 a couple weeks ago, as it was just hinting to break out. I hold DBC and have been re-balancing to a degree toward other generally related items in the resources areas. Not an investment, but possibly a well into Q1 2020 thing.
The bigger picture is this; a popped bubble unlikely to regenerate again any time soon. But the bounce can continue if certain macro elements stay in line.
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