According to most financial advisors, copper has often been regarded as a great economic indicator, since copper has so many uses. When the economy typically begins to pick up, copper is in DEMAND. When we have slack (or slow) times in the economy, demand for copper drops.
So what is copper, as an economic indicator, saying right now? Keep in mind, it is not a perfect indicator, and at times it has been wrong (or slow). While we are *NOT* recommending the purchase or sale of copper, it sure has an uncanny knack of telling us what is happening right now.
If you are relying on a blog post for specific investment advice, you are making a huge mistake. Please speak with an investment adviser before making ANY investment decisions.
If you do not have an investment adviser, we encourage you to contact Mullooly Asset Management at 732-223-9000, or through our website. Under no circumstances should the content discussed here to be considered specific investment advice.
And since point and figure charts tell us precisely “what is happening right now,” this video about copper and the exchange traded fund from First Trust, the Global Copper Index (symbol CU) have to say.
Our point and figure charts are provided by Dorsey Wright & Associates. I encourage you to visit their website and check out their free two week trial subscription! You should also please note the postings and videos on this site are my own, and do not necessarily represent Dorsey, Wright & Associates positions, strategies or opinions.
Feel free to contact us through email or by phone at 732-223-9000 should you have any questions, or have a mutual fund, exchange traded fund or stock you would like us to analyze. We may even feature it in an upcoming video!
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