What's The Commodities Index Telling Us? ~ market folly

Tuesday, October 27, 2009

What's The Commodities Index Telling Us?

You can watch the latest technical analysis video on the commodities index here. Like the overall stock market, commodities seem to have topped out in July of 2008 and bottomed in March of 2009. Since then, the commodities index has slowly but surely been rising, with a recent surge upwards. The video examines fibonacci retracements and identifies 304 and 336 as possible resistance areas up and coming for that particular index, which is a basket of a ton of various commodities. The guys at MarketClub have identified this index as one of the major indicators for inflation versus deflation, so it's always prudent to keep an eye on it. Check out what the commodities index is telling us in the video.

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