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When it comes to information/tools that helps us determine the overall condition of the economy, no single holy grail comes to my mind.
In the past a weak Dollar and strong Copper has a decent batting average, per helping investors construct portfolios and assessing how much assets to put towards the risk trade.
The continuing weakness in the Dollar (Forces against the Dollar) and Copper breaking resistance does have some positive undertones! The “Power of the Pattern” suggested to buy Copper on a breakout (See post here) and so far JJC has continued to push higher above old resistance levels.
Does Copper moving higher and the Dollar lower suggest “Pair-A-Dice” is knocking on the doorstep per the macro economy? No…yet when it comes to ownership of investments, the patterns in the 3-pack above do suggest at this point in time that the Dollar remains weak and being long Copper/Euro is the play at hand.
