Well, This chart went vertical, and the commodities went south.
Enough said. As fear returns to foreign markets and money migrates to the US Dollar denominated indexes, we can continue to expect weakness. Caution for Canadian stock picking is still advised. This is currently driving the trading. You could say the Euro collapse is, but the reality is that the US Dollar denominated commodities go down as the dollar rises. Copper continues to move down.
Greg Schnell, CMT