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Doc Copper helping materials ETF’s breakout again

Courtesy of Chris Kimble

Doc Copper helping materials ETF’s breakout again

Many are of the opinion that what Doc Copper does, can send an important price message about the strength or of lack of in the overall economy. Doc Copper is important to keep a close eye and how Basic Materials stocks are performing can be important to keep aware of.

Below looks at Basic Materials ETF (XLB) over the past few years-


Ascending triangles are rewarding patterns to find in bulls markets, as this pattern breaks to the upside two-thirds of the time. This pattern also helps with risk management, as it helps one apply stops, should the pattern fail to break out, which it does one-third of the time.

Below looks at a different Basic Materials ETF (IYM)

basic materials weekly chris kimble chart

Strenght in Doc Copper, XLB and IYM often times is a good sign for the macro economy. If both of these would continue higher, it could send a concerning message to bond hold holders. The global growth story wants/needs to see both of these continuing to head higher.

If you would like to receive weekly Power of the Pattern thoughts on Copper and the Basic Materials sector, we would be honored if you were a Metals or Sectors Member, as we update both memberships on these patterns each week.

The Power of the Pattern at work to save people time, improve decision-making & results.   

We identify high probability big pattern reversals and breakouts in global indices, sectors, commodities, several metals and select individual stocks

Receive Chris Kimble's research by email posted to his blog daily https://kimblechartingsolutions.com/newsletter-preferences/

Website: KIMBLECHARTINGSOLUTIONS.COM


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Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

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