Commodities have continued a steady climb, and the CRB Index is outperforming SPY (as noted in an earlier post). But CRB is now hitting the upper edge of a resistance band with longer-term market cycle implications. A close watch is required here to see how the CRB Index performs at this crucial juncture.
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Commodities continue to play an important role in assessing this market; keep a close eye on copper, in particular, as well as interest rates.