Dr. Copper at support trendline
The S&P and most global equity markets have broken down this week, taking the picture from that of a choppy sideways consolidation or topping pattern, to the start of a full-fledged breakdown. One clue regarding how severe this breakdown will be may come from Copper. Dr. Copper, if you will. The Copper ETF (JJC) is currently on trendline support from the 2009 lows. Below is a 4 year weekly chart.