The US dollar might have finally spread its wings, and decided to take off against the Euro, which is really in bubble territory.
Oil is also down 10% in just 4 trading days as well. If everything goes according to the plan, we are nowhere near the end of the correction.
In the meantime, equity markets are correcting softly, and nobody is paying attention to the crashes happening in the commodities markets. The decline has been happening slowly, which is great for bears because it doesn't affect the sentiment of the speculators, who remain over-bullish. The VIX is barely at 17, confirming the option market doesn't believe in a meaningful correction.