$Global X Copper Miners ETF(COPX)$ Looking at the copper stocks ETF weekly close, it finished down 0.63% last week. COPX was showing the most bullish Wave 2 bottom scenario out of all the metals ETFs I follow closely, including GDX, SILJ, SPPP, GLD, and SLV, back in Sept 2026. Since Aug 2026, COPX has been leading all the metals ETFs higher. The complete Elliott Wave impulsive structure that unfolded off the April 2025 tariff-driven VIX 60 generational low was about as textbook as it gets. COPX was clearly in a fifth wave blowoff on heavy sell volume in the last week of Jan 2026. The steep uptrend line in gold that started in Sept 2025 was broken to the downside in March 2026, and gold has now broken the downtrend line from March 2026 to the upside in Aug 2026. Good luck to everyone.
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