Short and to the point. Copper is at new lows. No one is focused on it because bratty oil is hogging all of the attention. Look at the carnage in FCX–absolutely mesmerizing. I’m sure Carl Icahn would agree; the fuckery taking place in copper is of the black swan varietal.
That being said, there is no decoupling from China at this stage. Wall Street has invested itself, emotionally, to this story line, right or wrong. So, if we’re going to get a rally more than 3 hrs, we’re gonna need to see some China related commodities move higher, namely copper.
Also, we need to see some stability in oil, weakness in the dollar, yen and some leadership out of big tech.
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Damn. Just when you thought BTU couldn’t monkey hammer any lower.
ACI even worse. Holy Guacamole.
China, EM, oil/commodity prices etc symptoms of US FED raising rates for political reasons? Certainly no domestic economic or fiscal motivation with with US GDP at a whopping 1% and inflation in the toilet.? In the calculus of US neo cons, the goal IS to wreck China/Russia! All global markets/investors are just cannon fodder for these lunatics.