Friday, June 4, 2010

Three Peas in a Pod

The three charts below--SPX--TRANS--Copper-- are highly correlated. The copper is weak as well today and should be monitored closely to give an indication of the direction that the equity markets are going to take. Copper, a major industrial metal is a proxy of economic activity in the productive segment of what is left of the economy--other than the Ponzi delusion conducted under the auspices of the gods of Wall Street.

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