Copper lead this rally and the correlations between Copper and S&P 500 has been very high. The possible top in copper at 462.55 adds to the possibility of a top in the S&P 500. We still need the final confirmation that copper has peaked, but a break below 421.25 would be the confirmation we are seeking for a decline to at least the 366 - 367 area.Wednesday, February 23, 2011
Copper vs. S&P 500 - Confirming the possible top
Copper lead this rally and the correlations between Copper and S&P 500 has been very high. The possible top in copper at 462.55 adds to the possibility of a top in the S&P 500. We still need the final confirmation that copper has peaked, but a break below 421.25 would be the confirmation we are seeking for a decline to at least the 366 - 367 area.
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