This chart of the price of copper and correlations to emerging markets and the S&P 500 could be one of the most important charts for the coming decade.
Copper has broken out to a new multi-year high (reaching its highest level since early 2018). Copper strength tends to bode well for Emerging Market stocks on both an absolute and relative basis (versus the S&P 500 Index).
My guess remains that the extended period of US equity market dominance (versus the rest of the world) is drawing to a close.
Investors eyes should be on copper. Will it breakout over 3.30?
Twitter: @WillieDelwiche
Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
