For months and months I’ve been saying that the CRB would form its final 3 year cycle low along with the 7-year cycle low in the stock market. This has been the pattern for the last decade and a half.
Considering the CRB is now deep in the timing band for a major cycle bottom, the odds are good that the low last month was the final 3 YCL. That is, commodities have bottomed.
If that’s the case then stocks have to have also formed their 7 YCL. I would have liked to see the S&P test 1600 but it’s not looking good at this point.