$Global X Copper Miners ETF(COPX)$ Copper Stocks ETF. Weekly close, down 3.98% last week. COPX had been showing the most bullish ABC Wave 2 bottom setup out of all the metals ETFs I follow closely, including GDX, SILJ, SPPP, GLD, and SLV. COPX is now leading all the metals ETFs in September 2026. The complete five-wave impulsive Elliott Wave structure that played out from the April 2025 tariff panic and the 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 January 2026, around the time silver hit 120 USD. The steep uptrend line in gold that started in September 2025 was broken to the downside in March 2026. Gold has now broken the downtrend line in September 2026 that had been in place since March 2026. Good luck to all. $SPDR Gold ETF(GLD)$ $VanEck Gold Miners ETF(GDX)$ $iShares Silver Trust(SLV)$ $SPDR S&P 500 ETF Trust(SPY)$
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