Doctor Copper

From NFTRH152 on September 11:

"The ‘Commodity’ segment veered into a riff on the real price of gold, so let’s get it back onto a nominal view of an important commodity, the good Doctor, whose prescription the broad markets await. He has pulled out his little script pad, he is writing but we do not yet know what the heck he is writing on there. Copper continues to fool around at the union of the EMA’s 50 and 200 and visual support. A loss of current support would be a very bearish thing. A hold of support would bring on a test of resistance above."

NFTRH153 saw some things this weekend that give it pause with respect to the current analysis that would see a potentially major liquidation this fall.  In fact, #153 sees reasons why the market could turn bullish once the downside grappling (SPX bear flag) clears.

But Copper is losing the support zone noted above (was green in NFTRH152, now yellow on its way to red) and copper is looked to far and wide as the 'roof' of a bull market.  The roof is caving in.  I remain happily short the base metals complex.

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