$Global X Copper Miners ETF(COPX)$ The copper miners ETF closed the week down 0.57%. Among the metals ETFs I follow (GDX/SILJ/SPPP/GLD/SLV), COPX is showing the most bullish (ABC) {Wave 2} bottom scenario. This was as textbook a complete Elliott Wave (5-wave) impulsive fractal structure as you'll ever see, unfolding from the April 2025 (TACO Tariff) generational low. COPX was clearly in a (5th wave) blowoff on massive sell volume (red) in the last week of Jan 2026 (silver at 121usd). Bulls are still looking for a possible Major Wave 2 (abc) bottom, but the longer (abcde) {Wave 2} bottom remains possible over the next few weeks/months, similar to SPPP and the CDNX small-cap gold & silver index. Note that the uptrend line in gold starting in Sept 2025 has been broken to the downside since March 2026. Good luck to all. $SPDR Gold ETF(GLD)$ $iShares Silver Trust(SLV)$ $VanEck Gold Miners ETF(GDX)$ $SPDR S&P 500 ETF Trust(SPY)$
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