Copper no longer a leading indicator?
From electrical wiring to plumbing, from radiators to air conditioners, they all require the use of Coppers.
The data isn't long enough, so i can only compare starting mid 2007. As observe in mid 2008 & year 2011, whenever copper and copper stock FCX took a tumble, SPY followed accordingly. However, since mid-2014, copper and FCX has been in obvious downtrend, but SPY keeps on making higher.
I am wondering whether copper has lost the conventional role as a leading indicator?