The index truly is a great reflection of where we are at with stocks. Unfortunately its not a leading indicator but rather a lagging indicator. The new lows actually would indicate that a rebound in demand ... i.e. a rebound in commodity prices as well, inclusive of oil, and hence helping equity prices to be sustained. What this chart and article shows, more importantly, is we all could be looking at the same data, same chart, same article... but our own conclusions could be very different. Many would read this article and conclude that all markets will get worse not better this year. My view is quite the opposite based on the sharp correction in BDI (panic oversold) and being 3-4 months into the slump already, a reversal is more likely now rather than a prolonged slump.
The article was from Business Insider.