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 downside during the last week, on the back of a stronger US Dollar amid a weakening European economy. It failed a critical test once it broke through the 200-day moving average, and now is down for 1.68% year-to-date.

The Dow Jones-AIG Energy Index (JJE) consists of Natural Gas, Crude Oil, Heating Oil, and Unleaded Gas. Since the middle of June the index has been collapsing, breaking support at the 50 and 200-day moving averages. And this despite serious issues in the Middle East. What is up with energy? The index is now down 0.95% for the year.

The DJ-AIG Grains Total Return Index ((JJG)) consists of Corn, Wheat, and Soybeans. The 1st Quarter of the year had been a spectacular one for the index, as it has blown through both moving averages on its way to a 16% gain. The index has since retreated back to its previous levels, plus much more. The index is down 11.45% so far in 2014.

The DJ- AIG Industrial Metals Total Return Index ((JJM)) includes Aluminum, Copper, Nickel, and Zinc. It currently resides just above its 50-day moving average and above strong support at the 275 level. JJM was one of the hardest hit by the weakening global picture in 2013, but is one of the few bright spots so far this year. JJM is up 4.99% 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 couple of months, 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 lower though if the dollar continues to strengthen and it breaks through that key 370 level. JJP is up 6.57% YTD.

The DJ-AIG Softs Index ((JJS)) includes Coffee, Cotton, and Sugar. JJS was on an absolute tear in the 1st Quarter, up just under 30%. But since then it was come back down to earth, and must hold the 120 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 9.17% YTD.