There’s lots of rumbling going on regarding the Chinese credit markets, into a Fed hike, and their prospects for growth. This can be viewed, granularly, through the price action of copper.
She’s at 3 month lows.
Major copper producer and poster child for everything commodity related, FCX, is getting hammered to pieces.
Separetly, it appears Exodus was right about the internet being overbought. Overall, the decline in markets would be considered somewhat benign if it weren’t for the fact that copper and oil were very weak, and bonds were very strong.
The next level to watch for copper is $2.00.
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