Yesterday, the Russell 2000 broke out and closed at its highest level since early May (on a closing basis). Today copper broke out. It still has some resistance between today’s close and 3.55, and then there’s a thin area between 3.55 and 3.60. Copper is important. A higher price implies strong demand which implies a healthy economy. It also implies China’s slowdown may be nearing an end. Copper doesn’t have to lead, but it can’t lag too much. This development is another good sign.
