Thursday, January 21, 2010
CRB Index
The Itz Pix Portfolio is weighted towards commodities and the stronger dollar is taking its toll this week. One key indicator I use is the Reuters CRB Index ($CRB). In the 'short-term' it has been in anuptrend channel. The chart below from yesterday (we'll know after the close what today's # is) appears to be testing the lower end of that channel. NOW, a break below this channel would be very bearish and would suggest exiting or scaling back on the commodity trades. Note the 300 level on the longer term chart...resistance/support.
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