A Closer Look: Commodities

The GSCI Commodity Index ((GSG)) consists primarily of Energy (71%), but also contains Agriculture (14%), Industrial Metals (7%), Livestock (4%), and Precious Metals (4%). The index currently sits atop support, but the situation is precarious at best. GSG is down 1.64% for all of 2012.

The Dow Jones-AIG Energy Total Return Index ((JJE)) consists of Natural Gas, Crude Oil, Heating Oil, and Unleaded Gas. The index currently finds itself under its 50-day moving average, with support at the 17.50-17.75 range. The index is down 7.13% for the year.

The DJ-AIG Grains Total Return Index ((JJG)) consists of Corn, Wheat, and Soybeans. Th index has been a spectacular performer in 2012, up just under 30% for the year.

The DJ- AIG Industrial Metals Total return Index ((JJM)) includes Aluminum, Copper, Nickel, and Zinc. After spiking in September, the index quickly broke down, breaking support at both moving averages. JJM is down 6.02% YTD.

The DJ-AIG Precious Metals Index ((JJP)) includes Gold and Silver. The index is up 10.06% for all of 2012.

The DJ-AIG Softs Index ((JJS)) includes Coffee, Cotton, and Sugar. JJS is very weak technically. It finds itself below both MAs, and finds itself riding a downtrend line lower. The index is down 22.78% YTD.

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