CRB-Index - Is sitting right at important support at 293. As can be seen above, this support/resistance has been significant for a number of years. I do think we eventually will see a break below support at 293 calling for a decline to at least 264, but more likely 248 as the next important supports. A break below 293 will spell more trouble for the com-currencies; AUD; BRL; CAD; NZD and ZAR.
Copper - Is Dr. Copper telling us something? We might be building a big S/H/S top where the Head itself was a smaller S/H/S top. We have broken below a minor support, which calls for a more significant test of the neckline near 305 and a break here will have long term bearish consequences for the financial markets and the Global economy in general.
S&P 500 - I thought we might have a quick look at the S&P 500 too. We are closing in on short term important support near 1,200. This support needs to hold firm to stages a break above 1,231 to maintain the possibility of a Santa-Rally.A break below 1,200 will also break the Bulls and call for a decline towards 1,158 as next short term support.
FTSE 100 - Here too a big S/H/S after a smaller S/H/S top forming the hear. Here important support is the neckline at 4,789 and a break below here will spell trouble for the UK. It is just a matter of time before we see the break below the neckline calling for a retest of the 2009 bottom.
Bovespa - The Brazilian index is also headed back towards the 2008 low. A break below 52,150 and more importantly 46,148 confirms the decline. Short term we have just broken below a minor support calling for a decline towards support at 52,150.
Sensex - The Indian stock index has just broken below important support at 15,000 calling for a continuation towards next support at 14,384, but a more likely target will be 12,799, where stronger support will be found. Longer term I do look for a decline back to the 2008 low here too.
FTSE 100 - Here too a big S/H/S after a smaller S/H/S top forming the hear. Here important support is the neckline at 4,789 and a break below here will spell trouble for the UK. It is just a matter of time before we see the break below the neckline calling for a retest of the 2009 bottom.
Bovespa - The Brazilian index is also headed back towards the 2008 low. A break below 52,150 and more importantly 46,148 confirms the decline. Short term we have just broken below a minor support calling for a decline towards support at 52,150.
Sensex - The Indian stock index has just broken below important support at 15,000 calling for a continuation towards next support at 14,384, but a more likely target will be 12,799, where stronger support will be found. Longer term I do look for a decline back to the 2008 low here too. 
