From the desk of Steve Strazza @Sstrazza and Ian Culley @Ianculley
Energy is the clear leader in the commodity markets right now. Our equally-weighted energy index is up 13.76% over the trailing month and 6.58% in the last five days.
The emerging strength from this group is supported by a rising rate environment that could be just getting started.
So, crude oil to 100 dollars and natural gas to 9?
Maybe! But before we get ahead of ourselves, there are still plenty of mixed signals and divergences that need to be resolved.
One that stands out is the lack of confirming price action between economically sensitive commodities. Let’s take a look! [Read more…]