I keep my eye trained on commodities and energy for signs of a turnaround. I must say, my purchase of DBA a few days ago has held up incredibly well through all this. It's a six-figure position, and as of last night it had a $230 loss. I'll gladly take that! Looking at crude oil, we had fallen to the near-bottom of an extremely long-term channel; the last time it touched this level was November 2001.
Not surprisingly, OIH is also pushing its lowest fan line (although as of this writing it is as a new multi-year low).
One key element, of course, is the Euro/USD relationship. Watch this triangle for a potential upside breakout.
