Commodities, led by oil, have been very strong since December 26th (just like equities). We are approaching the 50-day EMA, however, which could be an exhaustion point for this sector.
If you think oil is heading for another bout of weakness, you might consider the triple-bearish instrument symbol DRIP, shown below. As you can plainly see, it had a tremendous ascent during last quarter’s energy weakness. It has returned to what I consider to be a support zone.