Long Copper Specs May be Stock Market Sock Puppets Copper ended July 2 at its lowest level vs. the S&P 500 (SPX) on an end-of-week basis in 2026, despite managed money (hedge funds) still way long the metal in the US. At about 27% of CME copper open interest, speculator net-longs are forming a so-called crocodile jaw pattern relative to waning copper in terms of the SPX. Full report on the Bloomberg here: https://blinks.bloomberg.com/news/stories/thr7gerkv2th {BI COMD} #copper #stockmarket #futures @Bloomberg(Mike McGlone)