Readers will recognize the pattern in copper as one of my “themes” for 2012. Last week, I spoke a bit more in detail about the correlation between the price of copper and the stockmarket.
A few excerpts from last week:
Why does a Golden Cross pattern in copper have anything to do with equity investors? Past Golden Cross patterns have given equity investors an early indication that a longer term trend is about to begin:
While the popular media heads are starting to talk “gloom and doom” about the stockmarket, investors should be looking at historical patterns in the market (like above) to get a better gauge of what traders and large institutional investors are thinking.