Will recovery come sooner than later?

Attached is the weekly chart of Freeport Mcmoran Copper. Copper gets a nickname as “Dr. Copper” because its price action best forecasts the trend of overall economic  activity. So, what does Dr.Copper say about the economy?  I think it says, the economy fell hard last October, and we are crawling out of it.

 

 

Many sectors fell to new lows since last October, but FCX has moved up some impressive 50% since then. This could be an important divergence . The market continues to make new lows, but Dr.Copper is telling something in the opposite direction.

 

Majority of economists and CEO’s are talking about a recovery in 2010 or later. However, Dr.Copper seems to indicate that the recovery could come sooner.