IBB
297.64
+1.12
+0.38%
 
AAPL
143.65
-0.14
-0.10%
 
TVIX
30.91
-9.97
-24.39%
 
XIV
75.09
0.00
0.00%
 
TNA
108.69
-4.4
-3.89%
 
TZA
17.27
+0.64
+3.85%
 
UVXY
14.18
-0.02
-0.14%
 
NASDAQ
6047.61
-1.33
-0.02%
 
S&P500
2384.2
-4.57
-0.19%
 
NYSE
11536.08
-42.44
-0.37%
 
IBB
297.64
+1.12
+0.38%
 
AAPL
143.65
-0.14
-0.10%
 
TVIX
30.91
-9.97
-24.39%
 
XIV
75.09
0.00
0.00%
 
TNA
108.69
-4.4
-3.89%
 
TZA
17.27
+0.64
+3.85%
 
UVXY
14.18
-0.02
-0.14%
 
NASDAQ
6047.61
-1.33
-0.02%
 
S&P500
2384.2
-4.57
-0.19%
 
NYSE
11536.08
-42.44
-0.37%
 

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.