Wednesday, June 20, 2012

Even though the NDX100 is 'up & about'...why NOT Copper?

COPPER Daily Chart @ Close 06/19/2012

Copper's performance both in absolute & relative terms (S&P500) has been lacklustre since the lows scored by 'risk assets' in early June.
The now crossed (negatively) 50/ 200 day SMAs the worry for the Bulls; a simply 38% retrace of losses from $3.99 adding to the potential 'hangover' should this recent 'party' end?