Monday, July 18, 2011

FCX MOMENTUM

Copper s often a leading indicator for the market, so I thought the recent momentum intraday in FCX was interesting.


Here's the SPY
 Apparently they weren't ready to let the SPY breakout -see the neg. divergence.
However on the second attempt, volume s looking good and you rarely see bullish volume anymore.

The Q's , as I noted, TECH is in rotation, have already broke out of the base, but that probably has a lot to do with AAPL.

Pretty spectacular and if you want to move the market, AAPL is your go to stock.

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