A Red Sea

A bounce back from those 13-month lows in the POSX led to a sell-off in the commodities sector today, and the whole picture is red. Is this the start of a rally in POSX and a sustained pullback in commodities? Probably not. It’s probably just a bounce. But that makes the reaction to Friday’s PCE data that much more important.

Let’s get started with your POSX. After closing at the smallest…