The GSCI Commodity Index ((GSG)) consists primarily of Energy, but also contains Agriculture, Industrial Metals, Livestock, and Precious Metals. After breaking out to the upside in January, the index quickly reversed course and broke down technically, moving below both its 50-day and 200-day moving averages. But since April it has built a solid base, and in early July the index finally broke out, crossing both moving averages on its way up. In the last month, the index consolidated and came back to its trend lines. As long as the index stays above the 32.50 level, GSG should continue to trend upwards, especially with the dollar making a move down. GSG is down 0.06% year-to-date.

The Dow Jones-AIG Energy Index (JJE) consists of Natural Gas, Crude Oil, Heating Oil, and Unleaded Gas. The index broke out in August after testing support at the 87 level, but has been trading within a range for a few months now. The index is up 2.34% for the year.

The DJ-AIG Grains Total Return Index ((JJG)) consists of Corn, Wheat, and Soybeans. The index was a spectacular performer in 2012. Things are not looking nearly as well this year though. The index is trying to build a base, but there’s a lot of resistance that needs to be overcome just above where it now stands. The index is down 11.83% so far in 2013.

The DJ- AIG Industrial Metals Total return Index ((JJM)) includes Aluminum, Copper, Nickel, and Zinc. The index is also in the process of forming a bottom. It currently resides just below its 50-day MA and strong support at the 262 level, but still considerable below its 200-day. JJM has been the one of the hardest hit by weakening global picture, down 15.51% YTD. But things might be turning around.

The DJ-AIG Precious Metals Index ((JJP)) includes Gold and Silver. The gold market has been very volatile of late, tumbling over 10% in a matter of days in mid-April, and once again in June. But it seems that the index may have finally reached a bottom at the 348 level, as long as it can avoid breaking under the 370 level. JJP is the worst performer of 2013 though, down 24.77% in just a little under 11 months.

The DJ-AIG Softs Index ((JJS)) includes Coffee, Cotton, and Sugar. JJS is very weak technically, and has been for some time. It finds itself above the 50 but below the 200-day MA. It may be turning around though, as the index formed a short term uptrend line in the past month. The index is down 8.96% YTD.