Stock chart patterns and technical analysis (TA) explained simply. Disclaimer: This blog and all its contents are for educational and entertainment purposes only. Do not trade or invest based on any information seen on this blog. Please read Terms of Service. The K E Stone blog sites (Keybot the Quant) are blacklisted by Google, so enjoy the ad-free experience, and only use the Donate button when supporting the sites.
Saturday, February 12, 2011
Copper Weekly Overbot Rising Wedge Negative Divergence
Copper weekly chart overbot, rising wedgie, negative divergence, do you sense a theme among most sectors and indexes across weekly and daily charts? Yep, all topping behavior. This charts shows the neggie d spankdown with last week losing a percent. The power of copper price has been phenomenal, Fed's hot money pushing it up to the highest pedestal possible. With neggie d confirming over both daily and weekly charts across all indicators, also with rising wedgies and overbot conditions, well, copper is dead, it just doesn't realize it yet. Someone tap it on the shoulder and tell it to lay down already. As the markets languished in May and June 2010, copper was bottoming and already heading up from early June on. the broad markets did not bottom and move up until early July one month later. Copper is a leader, what is it telling you now? This information is for educational and entertainment purposes only--do not invest based on anything you read or view here or any links connected to this information. Consult your finanical advisor before making any investment decision.
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