While the major averages break their 50-day moving averages and technical analysts turn bearish, one commodity continues to show strength. Copper, the metal with a PhD due to its ability to accurately portray economic trends, continues to look strong. Copper futures are just a few percentage points from their highs despite the recent global downturn in markets.
Of course, this has been a persistent trend throughout the bull market. Domestic and global sell-offs have been largely ignored by copper traders as demand remains strong. Does Dr. Copper know something about global strength that the equity markets are currently overlooking?