Risk assets seeking breakout velocity?

A variety of risk assets are flirting with breakouts.

Yesterday, I noted that Dr. Copper – a base metal with a decent record of predicting global growth – has broken above its primary trendline resistance, and it has built upon those gains into today.

 

The S&P is also breaking above its primary trendline resistance:

Both Copper and the S&P have a higher trendline that could serve as resistance based upon two outlier days in April.  The Emerging Markets chart (EEM) doesn’t have that qualifier and has the beginnings of a breakout:

Additionally, high yields have rallied hard along with equities, though in general they have not yet recovered enough to face trendline resistance.