Copper, gold, Bitcoin, and stocks all cracked on the same day. Blake Young says demand is vanishing.
The S&P 500 is sitting right on support. Blake sees a head and shoulders pattern forming with 80 points of downside.
Copper is the tell. It’s testing its 200 day moving average, and Blake reads that as manufacturing and growth stalling out.
The money is already hiding. Consumer staples led every sector with a 2.76% gain on a day Bitcoin dropped 4%.
Blake is trading both sides of that split. Tonight’s video shows exactly how:
- General Mills jumped 6.75% and trades near 10x trailing earnings with a 7% yield. Blake sees it running to 42.
- NextEra broke out of its channel. Blake wants a pullback to 80 to sell puts for 2.33%, with a target of 90.
- Freeport fell from 80 to 64 and broke its 200 day moving average ahead of earnings. Blake sees 55 next.
- Blake pairs a short call vertical with a long 170 put on Southern Copper, risking about $500 for a potential $700.
Blake expects this rotation to define the next quarter. He’s already positioned for it.
