Loading ...Commodities are priced in Dopy/Dollars, So Dopey/Dollars which provides Dopey/Prices moves creates Dopey/Comex prices, and that stupidity in turn moves the Dopey/Stock prices.
So in a sense, re commodities and related stocks, its just “exchange rates” creating the stock price. So granted, a byproduct of higher prices can cause buying, and lower prices cause selling.
In reality, supply/demand comes into play after a dopey/price gets so Dopey/Distorted that the supply gets too big or too small, profits get too big or too small, causing bankruptcies or mal-investment. price. That’s how Oil went to $145/bbl and crashed to $28/bbl.
Note: For a while there, Gold and US Dopey were going up together. Maybe because higher Gold prices did not cause over production and crash of Gold like it did to oil.
Look at the Idiot Dollar down leg: https://finviz.com/futures_charts.ashx?t=CURRENCIES&p=d1
Look at inverse Smart gold up/leg: https://finviz.com/futures_charts.ashx?t=METALS&p=d1
Look how Dollar Down leg start in Sept started the Dow Rally: The entire system is strange.