CUPandHANDLE_CHARTS
Nov 7, 7:49 PM
$COPX ~ Copper Stocks ETF. Weekly Close at 71.25. Down -0.99% last week. COPX was starting to breakdown in late Oct 2026 before the Nov 3: “Blue Tsunami” which was a big warning sign for economic “AI Infrastructure Capex” bulls. Dr Copper: COPX was showing the most bullish (ABC) {Wave 2} bottom scenario out of all metals ETFs i follow closely (GDX/SILJ/SPPP/GLD/SLV). If COPX breaks below 68 a much lower level {Elliott Wave 2} bottom will occur. This was as textbook as you will ever see a complete Elliott Wave (5 wave) impulsive fractal structure which unfolded before our eyes off the April 2025 (TACO Tariff) “VIX 60” generational low. COPX was clearly in a (5th wave) blowoff on ungodly sell volume (red) in the last week of Jan 2026 (silver 120usd). Notice the steep uptrend line in gold that started in Sept 2025 was broken to the downside in March 2026. Gold has now broken the downtrend line since Aug 2026 that had been in place since March 2026. Good luck to all.
$SPY $DIA $GLD $GDX
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