Update on Copper, Emerging Markets and China
CLIFF NOTES: the move in copper should not be suprising // we are correcting a multi-decade 5 waves up complete. This has shown to put pressure on emerging markets and china. All according to the script.
if you would like to search for “copper” on this blog you will see that we have had a bearish stance for a good couple of years. A strong case can be made that Copper finished a multi-year 5 waves UP and is now undergoing a potentially very violent correction. if you also click on this link you will see the correlation between FXI (chinese ETF) and EEM (emerging markets ETF) and Copper : http://bartscharts.com/2014/02/01/copper-and-the-emerging-markets-eem-etf/ also here are the highs and lows in Copper: http://bartscharts.com/2013/12/20/the-copper-script/
The most recent breakdown in copper does not play well for FXI or EEM.