COPX breakout imminent: at the very least a near term metals bottom is likely is in.

In looking across a broad spectrum of things, I have to say that I think metals have bottomed for this cycle and then thinking people will gain good exposure to miners.  Check out the chart of the copper miner's ETF below.  It did not reach a new low when metals did.  This is an important nonconfirmation IMO and it has left us with a bullish inclining double bottom.  Look how the wave up into 1 was a 5 wave motive wave (even though it was an ending diagonal).  Then wave 2 is a clear a-b-c, not 5 waves down.  I suspect the current wave will turn out to be 1 of 3.  A pullback into 2 of 3 is expected down to $9.25-$9.30 range before turning around and breaking out of the down sloping trend line.

I don't give investing advice but it is my opinion that the nuclear winter being experienced by the mining sector is coming to an end.