WFT? The Baltic Dry Index is the index used by professional traders to analyze the global markets, and actually is a leading indicator when used to analyze macro trends. BDI for Idiots Stop being a tool crgarcia, you're capable of so much better ... shesh, how do you expect people around here to learn anything!
For soft commodities it appears more of a leading one as they kept falling even after BDI made a turn... in the past.
Just look at the chart. Charts don't predict but they also don't lie. http://shipping.capitallink.com/baltic_exchange/stock_chart.html Did the BDI topped before mid 2007, when the stock market was at its top? No, it kept climbing, making new highs; when stocks were NOT. BDI finally topped in November 2007. And be aware that you can't know that BDI chart topped, until it has been down somewhat. So you became aware that the BDI was going down, until X-mas. The S&P top was about 1550 in July 2007. It plunged as low as 1470 on late november, yet the BDI had yet to give a clear signal. You could had done better, watching trendlines on the S&P, it was no longer heading for new highs. From a fundamental standpoint it is lagging because it's dependent on consumer purchases, and consumers are always lagging, both before bubble busts and crash recovery.