Relative Weakness in the Commodity Space

JJC-A Copper Index has been off as much as -1.5% today while commodities broadly measured by the CCI have lagged the market. Even with the latest Berlusconi revelations JJC did rally, but took a rather sharp turn down within the last 20 minutes, all of this apparently due to a marker for measuring recession, "An inverted yield curve" and for China, this would be the first time this has happened, thus commodities, especially industrial commodities have lagged badly today with JJC (even after the broad market rally) still posting a loss of -1.25%

Look at the last two bars of this 10 min chart.

Translated generally, A chinese soft landing is looking less likely