Revisiting FCX – SPX relationship

I posted several weeks ago that the weakness in FCX could be a sign of things to come for the equity indexes. And, as it played out, FCX’s weakness was a precursor of things to come in equities.  I covered my short in FCX last week expecting a turn at any time, and that turn may just have happened today.  Is FCX once again leading the way?  Time will tell.

About alphahorn

I received an MBA from Columbia University’s Graduate School of Business in New York and am a Wall Street veteran. I’ve worked for a number of investment banks including Smith Barney and First Boston/C S First Boston in New York. Over the years, I have developed my own Proprietary Swing System and I combine that System with my own Elliott Wave Analysis to trade.
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