Is Copper the Tell on the Direction of this Market?

By | December 16, 2016

In late October the price of spot copper ($COPPER) began to rise in bullish divergence to the S&P 500 index. Two weeks later the broader market index joined the copper rally and since then both have moved significantly higher. Over the last two weeks, however, the price of copper has pulled back and the S&P index has continued higher. The question is: will the metal lead, again, only this time taking the S&P lower?
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