CHART OF THE DAY: #Quad4 Continues

On my client calls, there’s zero debate amongst our Institutional Subscribers as to whether or not both Commodities, as an Asset Class, or Oil (WTI) in particular “sees” a Global #Quad4 Recession in Industrial Demand:

1. CRB Commodities Index was down another -2.9% last week, crashing -21% from its Inflation Cycle Peak
2. Oil (WTI) was down another -3.9% last week, crashing -44% from its Inflation Cycle Peak
3. Copper was down another -2.2% last week, crashing -22% from its Inflation Cycle Peak
4. Palladium got pounded for a -9.2% loss last week to -11.6% in the last month alone