Uddrag fra The Market Ear/ refinitiv
What goes up…
…must come down. Copper has basically done the “roundtrip” move. On June 15 (here), we outlined our logic on copper and the fact it had overheated. Fast forward to today and the metal has crashed, hitting the 200 day here.
Source: Refinitiv
Dr Copper and SPX
Is copper trying to tell us something about the overall markets?
Source: Refinitiv
If copper is the AI play…
…we ask ourselves how the “real” thing is doing? Copper vs NVDA gap getting very wide, despite the latest sell off in NVDA.
