Notice the core resources are holding up quite well.
GLD - Gold ETF - up (barely)
SLV - Silver ETF - up
USL/USO - Oil ETF - up
GDX - Gold miners - down less than 1%
GDXJ - small gold miners - Got hit somewhat , down 2.4%
SLW - Silver Wheaton - Down under 0.5%
PAAS - Pan American Silver - up 0.7%
DBO - Food ETF - up 3%
Example of resources slammed.
AVL - Rare earth minerals - did get hurt badly, down 5.6% in one day.
RJA - Food ETF - down 5%
The real story, as since I started this blog, is long term interest rates (TNX/TYX)
Rates did go down, about 2-3%. In bonds for a day, thats pretty big. But it isn't enough. 30 year bond rates must drop 30% lower to get solidly back into the 25 year trend down.
The other real story is US dollar. I may make a post, and ask my friend happy john to comment.
In my opinion, if USD breaks below the low made in the last year, then natural resources is the ONLY place to be. If USD can keep its value and start advancing, fixed income is best.
Time will tell, good luck.