IBB
304.68
+0.62
+0.20%
 
AAPL
157.21
-0.29
-0.18%
 
TVIX
19.54
-1.71
-8.05%
 
XIV
77.1
+3.21
+4.34%
 
TNA
48.99
-0.03
-0.06%
 
TZA
18.27
0.00
0.00%
 
UVXY
35.87
-3.1
-7.95%
 
NASDAQ
6213.127
-3.399
-0.0547%
 
S&P500
2428.37
+2.82
+0.12%
 
NYSE
11719.267
+19.436
+0.1661%
 
IBB
304.68
+0.62
+0.20%
 
AAPL
157.21
-0.29
-0.18%
 
TVIX
19.54
-1.71
-8.05%
 
XIV
77.1
+3.21
+4.34%
 
TNA
48.99
-0.03
-0.06%
 
TZA
18.27
0.00
0.00%
 
UVXY
35.87
-3.1
-7.95%
 
NASDAQ
6213.127
-3.399
-0.0547%
 
S&P500
2428.37
+2.82
+0.12%
 
NYSE
11719.267
+19.436
+0.1661%
 

Death Cross Warning from Commodities

On a daily timeframe, Reuters/Jefferies Commodity Index <CRB> is about to signal an ultra bearish death cross. Since February 2016, price action has rejected the 50/100/200 simple moving average. The self-imposed production cut and freezes from OPEC has been merely an illusion with the physical market continuing to be oversupplied. Even in China the self-imposed Iron Ore cuts was also an illusion with Iron futures crashing >30% in recent weeks. The commodity industry has not rebalanced and this may signal the next deflationary wave is right around the corner.

<CRB> Daily death cross

<CRB> weekly rejects 50 and 200sma

<CRB> monthly descending contracting wedge appears to show rebalancing is not anytime soon, which signals deflationary trends for the coming years unless a major supply disruption occurs.