RE: Stan Weinstein's Stage Analysis and Market Breadth - Technical Analysis
Commodities
Commodities ex oil & gas ex precious metals:
My breath chart, looked at in the shorter term, shows weakening breadth in this commodity index. However, the longer term trendline, not touched 3 points yet, might be an indication that a longer term uptrend remains intact. This breadth excludes precious metals and oil & gas producers.
Oil & Gas producers:
FOr the oil and gas producers breath has plummeted over the last couple of weeks as the crude price has dropped [1]. However, if this trend line is correct this could just be a pull back in a longer uptrend. Who knows?
On a 2 year chart of natural gas prices prices can drop a bit more before an obvious trend line is hit:
Gold v gold miners:
Gold miner breadth is horrible. Gold has plummeted. The rounded bottom I had surmised a while back is broken. Looks like there might be support at 1700? Don't know about anyone else, but I'm seeing a lot of adverts for investing in gold on Youtube.
Milling wheat:
Not sure if this is a reasonable one to track, but grain is in the news. Just bouncing off a trend line right now.
So, a we about to see reports that inflation is dropping followed by it skyrocketing?