Dr. Copper – UPDATE

Copper, below, smacked right into the “SELL ZONE” … why is Copper being blogged about? Isn’t that a “who cares” type of metal? Ummmm, no. the inflection that occurs in copper has occurred in the stock market, as shown, on every major pivot since 2009, at a minimum.

so, this “zone” is very important …. watch copper in the coming days/weeks to get a “feel” for the overall health of the market.

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if you’ve been following my blog you know I’ll say “I love Elliott Wave, when it works…!” for Copper it certainly has. one of my first blog posts was about absolutely nailing the low at 4 by using, you guessed it, Elliott Wave.

is it going to work again … I really have no idea. that being said, if we follow the standard Elliott corrective construction, certainly looks reasonable that Dr. Copper is finishing a trend defining “b wave” and, just perhaps, a monstrous “c wave” cometh ….

Copper Script Part II

CLIFF NOTES: the probability is high that we break the key support line in/around 3.0 that has been holding copper up since 2010.

CLIFF NOTES 2: here is the link to the “Copper Script Part I” to watch how a BUY was recommended in the midst of the crash in 2009:¬†http://bartscharts.com/2013/12/20/the-copper-script/

Note, a potential gameplan is shown by the light blue lines …

Copper Continuous Monthly
Copper Continuous Monthly