The miners are breaking upward…

The copper miners, that is. COPX is a member of the model portfolio (and before that, one of my other portfolios), as Captain Obvious thinks it’s a, well, rather obvious inflation trade that has been consolidating since May. For “best of breed” top down analysis of all major markets, subscribe to NFTRH Premium, which includes an in-depth weekly market report, detailed market updates and NFTRH+ … Continue reading The miners are breaking upward…

NFTRH+; Copper miners

Per yesterday’s Trade Log, Copper Miners ETF COPX was added. Here is the technical rationale, which is getting some follow-through today. COPX had been working on resistance at the SMA 200 and yesterday it took that out in an initial move. It is important that today (and beyond) follows through to avoid another in a long line of whipsaws. So far, so good. Copper and … Continue reading NFTRH+; Copper miners

coppertube

Copper miners not (yet) buying Copper’s bounce

As the copper price firms at its daily SMA 200 the Copper Miner ETF is still bearish Copper price proxy CPER is bouncing at the SMA 200 (as is the metal). But the miners are as yet having none of it. This Head & Shoulders pattern featured ramping volume into the Head and all the substantial volume since has been distribution. Not good. CPER is … Continue reading Copper miners not (yet) buying Copper’s bounce