May Copper Runs Into Trouble at Convergence of Monthly and Quarterly Moving Average

It should be noted by equity investors that Copper is leading the Stock market by two trading days as of Tuesday March 15, and had been three trading days as of Feb 15. The correlation is tightening, so the SP500 is apt to run into overhead resistance in a day or two. May copper's monthly average crossed below its quarterly average last week, but copper could not sustain a breach of its quarterly average at 438. Resistance is now 436.50 on the point and figure chart. A print of 430.00 will be the second point and figure sell signal generated off of the overnight high at 436.85.