Being copper tend to lead the market, I've updated FCX a few times recently.
FCX 1 min leading positive
FCX 2 min leading positive
FCX 5 min leading positive and king of range bound trade, at least turning lateral
FCX 10 min leading positive
FCX 15 min leading positive
FCX 60 min also leading positive-this may have something to do with a bigger move in the market, remember how good the commodities index looked as far as the underlying trade from yesterday?
I don't want to speculate too much, but when did commodities really get out of control to the upside?
JJC 1 min leading positive divergence-this is a running divergence, there's an intraday negative.
KKC 5 min leading positive, look at the leading status now and the last accumulation period even though pries are lower now, that's very bullish as far as the underlying trade goes.
JJC 15 min, again the same situation as above.
JJC 30 min leading positive divergence-even at the reversal on Tuesday it was leading, this tends to confirm what I said earlier, "I look at this as 1 accumulation zone".
JJC 60 min positive divergence is out of control to the upside, VERY BULLISH.
As for the 3C depth hart, JJC is hitting levels consistent with the start of QE2, the very thing that drove commodities up so high.
Perhaps it's true, the BENK only knows 1 thing, PRINT
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