Counting the reasons for copper’s decline

John Spence from Marketwire looks at copper’s sharp pull-back last week. He ponders whether the lower price has broder implications for the economy as a whole:

The red metal’s slump is a worrying sign for stock bulls and the global recovery because copper is seen as a leading economic indicator.
“There is an old saying that every stock bull market has a copper top,” Stock Trader’s Almanac said in a note last week.
“While not entirely true, as a key industrial material and benchmark of economic growth, copper tops have coincided with stock bull market tops on enough occasions to warrant concern,” the report added.