Market watchers, economists and even humble technical analysts have been watching the price of copper for years. It is an economically sensitive commodity that is used across many industries. Many market players use the direction of copper prices as a sort of shorthand for the U.S. economy. (It may be used like this in other economies but frankly I have not discussed it with friends across the pond.)
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Plus, the market has bad breadth and PC and operating system makers should benefit from virus-inspired home-based schooling.
While valuations still aren't as high as they got in 2000, a lot of recent investor behavior feels very familiar.
The market can continue this way for a long time, and that would be bearish. It's also one of three paths I see it going from here.
The close Thursday was not as strong as on Wednesday, but it was a decent bounce on the Nasdaq. Let's dig in.