Baltic Dry Index – Weekly Update

Only five weeks ago candles signaled a big reversal for the BDI index. And here we go – the index is down 56% off the top. What would it mean?

The BDI is often viewed as a leading indicator of economic activity because changes in the index reflect supply and demand for important materials used in manufacturing. In the majority of cases, the index is well correlated with the market moves and is considered a harbinger of the Market moves.

In our regular update we evaluate the index from the perspective of technical signals, candle formations and Elliott Waves.