Baltic Dry Index Drops Like A Brick


Notice how the Baltic Dry Index has fallen very sharply lately. The momentum is strongly downward and current index level is well below the 50 day MA and below the support level of 2580.

It appears too that a Death Cross is forming combined with downward momentum. Is this a repeat of late 2008 developing when shipping rates collapsed, or is it a "correction".

In my view, a downturn in this leading economic index is another deflationary signal.