As mentioned in a previous blog, commodity prices declining is a positive as long as it does not couple with the notion of all things being worth less. Commodities are currently in the 50% retracement flight path and will settle into a trading range that will last a significant period of time, especially after the absurd levels they attained on the upside. So it is hard for indexes to get comfortable at higher levels simply because hard assets are correcting. The best cure for the bull is higher prices and we have yet to reach levels to confirm the bottom.
