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Bad CRB scenario


Old CCI CRB is increasingly hard to track as trade in the actual index evaporates. The ETF that tracks it seems to be the best substitute on a daily basis.


Very well may not happen but a close in this morning's territory and a gap down some day soon would tend to indicate the the commodity rout is about to resume after a shallow sideways correction that probably peaked in mid-May but hasn't yet confirmed an impulsive leg down.


Good news, such as it is, the a final downleg should be the last of the big move down off the 30 year cycle highs.  Bad news is that commodities as a class probably won't have a big upside run for another 15-20 years.


Doesn't mean there won't be fierce rallies in individual markets, though.



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