One metric I look at fairly often for various countries is the relationship between the performance of stocks vs. bonds. The idea is straightforward enough: when stocks are outperforming bonds, it tends to be associated with a growing economy. When bonds are outperforming stocks, it...
China reported year-over-year inflation last night at just 0.1%, 0.2% lower than expectations. Clearly China’s reopening is not creating price pressures, which brings the strength of the reopening into some question. Recently, we saw a fairly significant drop in China’s PMIs—all of them well below 50—indicating...
While it is too early to really get our hopes up, it is worth noting that Dr. Copper has clawed its way back above the long-term support that it violated earlier this year: And though its efforts to overcome the downtrend seem to have faltered a...
Yesterday saw the monthly slue of Chinese economic stats and the key feature among them was the continued broad-based weakness. The weakness in some of these statistics has been so pronounced (some things like IP and retail sales are at levels near or below those...
Whether this is pre-FOMC jitters or something else we will soon find out, but the action in copper recently and especially so far this morning is not sending such a reflationary signal....
The price of the all important copper appears to be heading lower once again after what in retrospect looks like a dead cat bounce....
Last week we noted that copper was at a critical level and further weakness could open the door to much lower prices in the months ahead. Well, that further weakness seems to be materializing today as copper drop is down almost $.05/lbs, or 1.6%....
We’ve been highlighting the weakness in the ”metal with a PhD in economics” all year so it should come as no surprise that we’re keen watchers of copper prices....
As noted here on Monday, it appears copper prices are about to take another significant leg down. The price of copper has now decisively broken through the rising support line in what appears to be a continuation of the longer-term downtrend that started back in...
Copper, after having been turned down by the falling trendline last week, is breaking down through the upward sloping support line today. The technical pattern formed in copper is known as an ascending triangle pattern, and breaking below the rising support line is generally taken...
Copper, the so called metal with a PhD in economics, seems to be rolling over again at the long-term downtrend line that began in early 2011. The price of copper jumped from $2.95/lbs to about $3.29/lbs between March and July of this year, which was...
Copper prices continue to recover from weakness earlier in the year, but are approaching an area of resistance: Taking an even longer-term view, we see just how important this level has been in the past five years: Our point-and-figure chart also indicates that copper prices...
Stocks are once again departing from most other asset classes today as the S&P 500 and Russell 2000 rip higher while treasury yields and most hard commodities are down on the day, though higher than in early morning futures trading....
On a relatively quiet day on the markets there is one asset that is exhibiting some serious thrust. That ”asset” is copper, which has now decisively broken through an important line of overhead resistance....
We’ve been keeping a close eye on the copper price recently because it has been exhibiting some pretty significant weakness, and weakness in copper is often associated with weakness elsewhere....
