Markets are in the red today, but the real story is how bad commodities are doing.
Gold is getting crushed. Copper is getting crushed. Silver is getting crushed.
This is something that trader Mark Dow has been writing a lot about, that the prospect for equities are much better than the prospect for commodities.
Here’s a chart (via Stockcharts.com) of the S&P ETF vs. the CRB commodities index going back a couple of years.
Stocks are winning big time. Paper (stocks) is crushing rock (commodities).