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Analyst Chris Kimble starts of the week with an interesting pair of charts: Freeport McMoran (FCX) and the Nasdaq 100 (NDX).
Chris comments: Often times parents say to their children,"Be quiet and stop your arguing!
Right now a solid argument seems to be taking place between the fundamental and technical data.
As can be seen on this site, numerous fundamental data releases of late make a strong case that the economy is slowing down. So if this is true, have equities fallen enough?
Two fairly decent leading indicators, Copper (FCX) and the Techs (NDX) are both breaking above falling resistance and look to have created very short-term bullish inverse head and shoulders patterns.
Bottom line: Let the power of the pattern be your friend and keep stops in play!
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