Shared the chart below, reflecting a sharp decline in a key commodity index and a breakout of the U.S. Dollar (see post here) 

The breakout at (2) below created a pretty painful situation for long commodity players…  I remain of the opinion, of all the charts/noise I create, the long-term outcome of the chart below is about as important as it gets!


Below is an update on the MS Commodity Index (CRX) and Crude oil, reflecting that counter trend rallies look to have taken place, bringing them up to key falling resistance/channel lines



At this time, resistance is resistance.  A break above these lines would be a big relief to the world from a Macro point of view! The Commodity/Stock rally I suspect has felt good to investors, yet from a “Power of the Pattern” perspective, nothing on the upside has been proven at all, at this point in time! 

We will find out a ton about the global economy per how these two do and if the Shanghai index can hold at support! 

If the Shanghai index fails to hold support(see post), Crude and Commodities fall a TON!!!

How The Recent Decline In Stocks Looks "Eerily" Like Major Bear Markets Of The Past