Cyclical copper is now signaling full on danger in its relation to gold The lowest low since February 2021 is being struck by the Copper/Gold ratio. And here’s the companion big picture macro chart for your viewing pleasure (or displeasure if you cling to the cyclical inflation view). For “best of breed” top down analysis of all major markets, subscribe to NFTRH Premium, which includes … Continue reading Copper/Gold ratio failure continues
Copper and copper miners breaking bad I looked at FCX and thought about buying it as it got dropped to a higher low at the SMA 200. Today it has dropped below it (still a higher low to January’s low). I’d be interested, except that the Copper Miners ETF looks even more suspect and the good Doctor himself is threatening a breakdown… DESPITE booming jobs, … Continue reading Copper, copper miners and the Gold/Silver ratio
As the Copper price finally makes a move that could lead to implosion (this time?) It’s a hard break below the SMA 200 and maybe this time the good doctor will prescribe a counter-cycle. Not so curiously, gold is getting blown up this morning (not quite yet to our downside targets) but oh wait, look at the old monetary man vs. the inflated economic doctor. … Continue reading Doctor Copper: Finally the breakdown?
Cu/Au bent but not quite broken Wallowing below the moving averages, the Copper/Gold ratio is vulnerable. It’s a vulnerability that has been in play before to no damaging effect to the cyclical inflation trades. But these things take forever (and a day) compared to our flitting brain waves firing off signals in real time. Once again, the ‘reminder’ chart about the big picture macro. The … Continue reading Copper/Gold ratio continues to be macro unfriendly
Copper/Gold ratio is still sideways The decision by this discrete indicator (remember, it’s a group of indicators we want to see indicating similar outcomes for any given macro backdrop) has not been logged yet. The copper price is pulling back vs. the gold price but the ratio is still in its long sideways trend. This will not last and when it finally breaks out, up … Continue reading A friendly reminder from Dr. Copper & old man Gold
Copper/Gold ratio has been weak, but… The “but” being that this level of weakness has occurred on two other occasions before the ratio of the copper price to the gold price recovered. It has been more than a year now that this indicator, not to mention several of its fellows, has refused to trigger a macro view.* And again, the big picture view… * I … Continue reading Doctor Cyclical vs. Old Man Counter-cyclical
Copper spike and reversal As gold hits our short-term target (short-term, longer-term is much higher), Nickel goes limit up and other items went bonkers in pre-market, the good doctor is doing failure #4. It is still technically bullish, but the failure is in not yet taking a next leg. Like Nickel, for example. It’s getting dangerous out there, folks. More and more my general default … Continue reading Doctor Copper among pre-market’s harsh reversals
The bullish window (on average) is closing for metals Of these metals I hold gold (not in ‘paper’ form) and silver, palladium and platinum (in paper form) and copper (in my walls). Is it different this time or will the seasonal average exert for some or all of these metals? There sure is a case to be made for ‘different this time’, given the intensifying … Continue reading Precious & industrial metals seasonal (from NFTRH 695)
The copper price remains intact and in consolidation The drudgery continues. Cyclical, inflation-sensitive Copper is still bull biased as it creeps the SMA 50 after the latest upside fake out. It’s pretty annoying for we who want clear signals (but they will come). Meanwhile, Doctor Cyclical vs. Old Man Counter-Cyclical took a fear stoked drop and is of course bouncing a little. For “best of … Continue reading Doctor Copper: “3 was not a charm, but…”
If you’re only watching market prices (and drama) you’re missing key points beneath the surface I have not posted yet this week due to being preoccupied elsewhere, due to having done a lot of work lately getting in tune with what’s going on across the markets, due to being bored with the idea of being the guy telling gold bugs don’t buy gold because of … Continue reading Two macro charts
Copper price makes another move to break consolidation The third move of this consolidation, to be exact. If the move proves to be real then gold would need to keep up the pace, lest… …this macro chart do something it did not do on the last two occasions of long consolidation. Either way, if the nominal copper price breaks upward the signal would be a … Continue reading Third time a charm for Copper?
LME squeeze for Copper? New LME stocks squeeze is creeping up on Doctor Copper Of course, you and I are not the only ones watching the copper price refuse to bust one way or the other nominally (or in relation to gold). It really is an epic macro decision point for we top-down macro propeller heads. The article (Mining.com) explains some of the dynamics in … Continue reading Solid article on Doctor Copper
As the copper price (futures) fade from short-term resistance, sagging through the SMA 50 and 200… …the Cu/Au ratio does what it did all through 2021; decide already! Which means one of my favorite charts of the moment continues not to make its decision either. Oh, it’s coming. But it’s like watching paint dry on a day to day basis. For “best of breed” top … Continue reading Copper wobbles, Cu/Au ratio has no signal (yet)
Palladium, outstanding CoT and Seasonal After having previously reviewed the positive seasonal aspect for Palladium (along with other metals, see below), NFTRH 690 presented (by way of CoTbase) the following CoT situation, which was in a no-brainer, contrary bullish setup at the last reading. Palladium looks really good. Specs were way too long at the top and Commercials were very short. Today it is the … Continue reading Excellent Palladium CoT joined a positive seasonal average
