Inasmuch as the TSX Index is weighted in favour of commodities, I'm also discussing the two Daily charts below of the Commodities ETF (DBC) and the AUD/USD forex pair, which show their continued decline below major support. Price is trading close to December 2011 lows, and the MACD and Stochastics indicators are still trending down.
I'll be monitoring these to see what happens upon a "Death Cross" formation, which appears imminent. For now, the trend is still down on all three instruments. I expect that any further decline in commodities will drag U.S. equities down, as well.
