I like this….”Tops are a process and Bottoms are events!” 

With this in mind, we have to look for a slow process of building tops/highs, in all assets/productsFCX is down over 10% of late and has taken out a steep support line at (1) in the above chart and Copper is testing support right now at (3).  The copper industry more often than not, is a decent reflection of the global economy.  Keep a close eye on these two going forward!!!

I mentioned yesterday that this situation coud benefit portfolios, via owning SMN

How The Recent Decline In Stocks Looks "Eerily" Like Major Bear Markets Of The Past