Some bullish indicators

Mac and Copper and that - diverging again

So there's a bit of divergence here from copper futes and the McClellan.



NY up/down volume ratio too:



And NYAD...



And the high/low ratio too...



But Mr VIX has not issued a sell signal yet, unlike the January top, which might suggest that any dip will be bought? Clearly, I am still eyeing the 76.4%/full moon time window in two weeks time when I say that.



However, a quick peek at 2007 says that maybe we shouldn't expect any cut-and-dried signals:

NYMO and copper diverging

McClellan and copper are both divergent on the new SPX high here.

Copper

Jeff Kohler at Option Addict points out how well copper has been doing as a leading indicator - it bottomed over two months before SPX in 2009 and led the fall in 2010.