CLICK ON CHART TO ENLARGE Nine days ago the Power of the Pattern suggested that Copper could drag the 500 index lower (see post here) Copper is often viewed as a predictor of the “Economic Weather” that is about to come. Copper is breaking key support and below is flag pattern at (1) above. [...]
CLICK ON CHART TO ENLARGE Gold & Silver pushed below support recently and now Copper is working on a similar breakdown. In the past Copper weakness was a message of a global slowdown and a sign that “Deflation” was taking place. The Power of the Pattern suggested in the chart below (published 5 weeks ago) [...]
CLICK ON CHART TO ENLARGE In 2008 and 2011, when Copper broke below rising support, the 500 index soon followed. At this time Copper finds itself nearing the end of a flag/pennant pattern at (2) in the above chart. Odds are pretty high that a breakdown in Copper would “Drag” the 500 index to lower [...]
CLICK ON CHART TO ENLARGE Three key metals, Gold/Silver/Copper are very near key rising support lines at the same time at (1) in the above 3-pack. Until broken you have to give the nod to these rising support lines, as support is support until broken.
CLICK ON CHART TO ENLARGE Copper, Basic Materials and High Yield mutual funds have a quality track record for suggesting where the broad stock market and risk assets will head in the near future. Last year Copper, High yields funds and Basic materials broke rising support lines, before the broad market declined 20% from the [...]
Developed and maintained by Skylight Sites
Recent Comments