Friday the 13th, October syle

Click charts to enlarge

There appears to have been a fair bit of good correlation between the CRB commodities index and the Australian market, particularly over the last few years.

In the last couple of months the CRB has broken its uptrend support and is off roughly 18% from its high.


The Australian market has held its trend nevertheless, and is off its high by less than 3%.

A similar fall as the CRB would take the SPI under 4450.

Was the Aus mkt propelled by the CRB or was the CRB propelled by the Aus mkt??

Or, was there no actual correlation but mere coincidence and the Aus market rise had nothing to do with commodities?

Friday, October the 13th, 2006