From the desk of Steven Strazza @Sstrazza and Ian Culley @Ianculley
Commodities are making a fresh leg higher, and energy is leading the way.
Crude oil is back above our risk level around 76. And the energy-heavy CRB Index is at its highest level in more than seven years.
But it’s not just energy contracts that are working right now. We’re seeing strength across all areas of the commodity complex.
This broadening participation is evident in our equal-weight commodity index, which just hit new highs after consolidating for the past two quarters. [Read more…]