Collective Action

We’re getting multiple pullbacks to the 20-day moving averages for most major indexes and sectors.

This is the norm. What will be more interesting is if we get tests of the 50-day averages in this.

The Commodities Index ($CRB) is getting wasted as it trends below its major averages. Lower bids for this could mean less economic growth in the pipeline as fewer look to build and expand.

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