hundred dollar bills GettyThe indicators are (1) the Baltic Dry Index, (2) the price of copper and (3) the price of oil — all in decline and in the kind of decline that eventually gets noticed by stock market participants. Let’s start with the Baltic Dry Index:Baltic Dry Index weekly price chart, 2 1 20. stockcharts.comI’m going to call it a downtrend. The Baltic Dry Index (created by London’s Baltic Exchange) is an attempt to measure the price of shipping goods around the world. Here’s the weekly price chart:Copper weekly price chart, 2 1 20. stockcharts.comThe downtrend is now testing the 2017 support levels at around 2.50 — a long way down from the peak price of 3.30 in early 2018. Oil looks like this:Crude oil weekly price chart, 2 1 20. stockcharts.comNow trading at 51 after peaking in mid-2018 at 76.

Source: Forbes February 02, 2020 01:30 UTC