The GSCI Commodity Index ((GSG)) consists primarily of Energy, but also includes Agriculture, Industrial Metals, Livestock, and Precious Metals as part of its holdings. The index broke out to the upside in the beginning of February and formed a short-term upward trend line. A critical test comes forth this week, as the index now finds itself directly at support at the 50-day MA and at risk of breaking down. It must hold his level if it wants to continue this new-found trend. GSG is up 2.52% year-to-date.

The Dow Jones-AIG Energy Index (JJE) consists of Natural Gas, Crude Oil, Heating Oil, and Unleaded Gas. Since the beginning of November, the index has been on a tear, breaking resistance at the 50 and 200-day moving averages. It having trouble breaking past the 205 level though, and also might be at risk of losing ground if it doesn’t hold support this coming week. The index is up 4.87% for the year.

The DJ-AIG Grains Total Return Index ((JJG)) consists of Corn, Wheat, and Soybeans. After a rough 2013, this year has been a spectacular one for the index, as it has blown through both moving averages on its way to a 16% gain in the last three months alone. Holding support at the 128 level is key to keep this run going. The index is up 19.45% so far in 2014.

The DJ- AIG Industrial Metals Total Return Index ((JJM)) includes Aluminum, Copper, Nickel, and Zinc. The index is in the process of forming a bottom. It currently resides just above its moving averages and above strong support at the 264 level. JJM was one of the hardest hit by the weakening global picture in 2013, but its looking slightly more positive so far this year. JJM is down 2.36% YTD.

 

The DJ-AIG Precious Metals Index ((JJP)) includes Gold and Silver. It seems that the index may have finally reached a bottom at the 350 level after a volatile and tough 2013. In the last month, it broke through support and was at risk of breaking down entirely, but it held support at the critical uptrend line (so far). We could be in for a ride higher if it holds that key 30 level. JJP is up 4.88% YTD.

The DJ-AIG Softs Index ((JJS)) includes Coffee, Cotton, and Sugar. JJS has been on an absolute tear from February to the beginning of March, up over 35%. But since then it was come back down to earth, and must hold the 127 level if it wants to continue this bullish trend. This market was one of the hardest hit commodity markets before a Brazilian drought brought about worries over sugar and coffee crop damage to the top grower of both commodities, propelling it throughout the year. The index is up 17.92% YTD.