Taking a look at the crb index chart is very interesting. Infact, I had to really sit back and stare at it for a moment or two, as it was quite eye opening. Have a look at the crb index chart chart below.
|crb index chart|
Back about a month ago, sentiment was telling us that there was almost NO BULLS LEFT...and that is a sign that a big movement is due in the opposite direction.
The writing is on the wall here, and the monthly charts are such a good indicator for the CBR index chart.
As you can see, the last time we were this oversold in commodities, we experienced a rally that tore apart the bears, and even shocked the bulls. Do not be surprised to see that happen again, with a time estimate out to about 2014 or so.
All I can say here is WOW!
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