Yes @seals - I see that point and commodities are indeed over...

Yes @seals - I see that point and commodities are indeed over sold - but I am not quite sure there is a fundamental nexus between commodities and total equity. I'm working on it lol.

But with Buffets index the two big bubbles were 1928 and 1998 (dot.com bubble) which were fundamental to an overreaching involvement with stocks.
And as you say maybe commodities will continue on their way with only a small pull back, driven of course by the rush to EVs and Zero 50. But maybe that is just a bubble too !!

And we know from just about every news broadcast the coffee and cake economy is in dire straights so maybe the 2022 bubble will be called coffee.cake bubble.

And you know there was a pepper bubble too at one time - wealthy families in Hamburg and other merchant cities collected jars of pepper on their mantelpiece. The pepper was too hot for them, they got burned.

Sorry, my mind is becoming fuzzy, and I am being frivolous.