S&P GSCI® Goldman Sachs Commodity Index is a composite index of commodity sector returns representing an unleveraged, long-only investment in commodity futures broadly diversified across the spectrum of commodities.

While most investment managers using fundamental earnings growth and valuation like this for decision making. we primarily focus on the price trend direction, relative strength, momentum, and volatility to determine when to buy or sell, but we still monitor these fundamental metrics.

The MOVE index (Merrill Lynch Options Volatility Estimate) is a market-implied measure of bond volatility similar to the CBOE Volatility Index ($VIX) for stocks. Some consider it fear in the bond market, as in uncertainty about interest rates.

The Chicago Board Options Exchange Gold ETF Volatility Index (GVZ) measures the market's expectation of 30-day volatility implicit in the prices of near-term Gold ETF options. SPDR GLD ETF, the largest physically backed gold ETF in the world, is sponsored by World Gold Trust Services and listed since 2004.

The Philly Fed survey is a measure of regional manufacturing growth, also known as the "Manufacturing Business Outlook Survey". When the index is above zero, it indicates factory-sector growth, and when below zero, it indicates contraction. In global macro, a rising Philly Fed survey is considered a signal that a bull market is on the horizon.

Goldman Sachs has lowered its probability for a US recessions further, giving just a 20% chance of recession.