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Speaking of Dogs, Copper comes to mind over the past two years as Copper has lost 25% of its value.  The decline of late has few people liking Copper as bullish sentiment has plunged. (see inset chart).

I believe Copper is a quality barometer for the global economy, especially the Emerging markets/China story.  Copper is on a three-year support line that needs to hold!  With Copper on support and sentiment so low, a short-term rally should not be a surprise!

In the bigger picture, even though sentiment levels are depressed, investors must be open minded to the message for Copper should support give way at (1)!

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Copper and Crude Oil, two decent indicators for global growth or lack of, are both on multi-year support lines at the same time.   Don’t take your eyes off these two because the move they make over the next few weeks could tell us a ton about the worlds economic status!

If you are bullish/long the S&P 500 or broad markets, you want Copper and Crude oil to hold right now!

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