The CRB - Jefferies commodites composite will enter 2011 with a cycle bull market intact.
It could even receive an extra kick in Q1 '11 if winter weather in the northern hemisphere
continues cold and snowy and if China does not accelerate credit tightening, which would
allow for normal seasonal stocking there.
However, the market is overbought, and as the linked-to chart shows, has exhibited fairly
strong discipline when it gets at a sharp premium to the 40 week m/a, as it is now. It will
be instructive to see how well the discipline holds up near term. $CRB chart.
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