Loading ...USD and CRB Divergence?
USD is up big time again today and most of the CRB is not selling off as hard as it should for the second day in a row.
I am seeing divergences in several CRB sectors with respect to the USD (e.g. Lumber, Copper, Gold, etc.). Here are examples on Copper and Lumber (I have starter positions in both these stocks just to keep an eye on them). Note that Copper has been declining and is down over 1% today.
Take a look at this chart on COPX, an ETF for Copper Producers. Note the break above the down trend line, backtest and bounce into an early Fork price channel. Looks like a potential breakout to me.
Here is another chart on PCL a timber company (from yesterday). The 13ema has crossed above the 150ema and Price is now bouncing between the 13ema and the downtrend line. Which will win?
Here is TCK, an Oil Producer. Note the price action while Oil has been declining. Another possible breakout?
Commodities Up and US Dollar Up and the Stock markets Up ?
Bonds Down ?
Sounds like inflation in spite of a strong dollar
That would be weird
Maybe the reset
Interesting how the miners help up relatively well over the past two days as the dollar was surging. The fiat currencies are in a race to see who can get to zero first.