Industrial and precious metals, gold and oil all gave Coppock buy signals in January and February, and that indicator appears to be supported by the recent performance of these commodities. However, we should be aware that precious metals and oil gave the same reading back in October, only for them to be quickly reversed.
Japanese and US bonds also gave buy readings in February, a reflection of recent market growth fears which sits at odds with the possible resurgence of industrial metal and oil prices, both of which are at least partly dependent on a healthy global economy. Certainly recent Coppock indicators on equity markets have remained largely negative, with sell signals on US markets yet to reverse and new sell signals appearing on key US indices in recent months, not least Germany's Dax, France's CAC and the UK's FTSE 250, as well as more broad-based indices such as the Euro Stoxx 50.
Coppock readings - as of February 2016
| North America | Nov | Dec | Jan | Feb | Latest signal | Latest signal (date) |
| SPX | 8.24 | 6.57 | 2.09 | -1.45 | SELL | Mar-14 |
| DJINDUS | 4.56 | 3.28 | -1.04 | -4.25 | SELL | Feb-15 |
| NASDAQ 100 | 26 | 24.16 | 18.03 | 13 | SELL | Sep-14 |
| NASDAQ COMP | 22.34 | 20.4 | 13.95 | 8.4 | SELL | Apr-14 |
| S&P/TSX | -11.86 | -15.04 | -18.69 | -21.06 | SELL | Oct-14 |
| Asia Pacific, Africa | ||||||
| BANGKOK S.E.T. - PRICE INDEX | -10.77 | -17.61 | -22.93 | -24.63 | SELL | Apr-15 |
| FTSE BURSA MALAYSIA KLCI - PRICE INDEX | -17.55 | -17.48 | -17.79 | -17.6 | BUY* | Feb-16 |
| FTSE CHINA B 35 - PRICE INDEX | 49.59 | 45.68 | 33.11 | 18.96 | SELL | Jul-15 |
| HANG SENG - PRICE INDEX | -0.32 | -5.57 | -13.66 | -21.24 | SELL | Jul-15 |
| KOREA SE COMPOSITE (KOSPI) - PRICE INDEX | 1.34 | 0.87 | -1.02 | -2.4 | SELL* | Dec-15 |
| IDX COMPOSITE - PRICE INDEX | -13.976 | -17.993 | -21.34 | -22.887 | SELL | Apr-15 |
| STRAITS TIMES INDEX L - PRICE INDEX | -13.78 | -17.85 | -24.31 | -29.46 | SELL | May-15 |
| TAIWAN SE WEIGHED TAIEX - PRICE INDEX | -9.24 | -12.41 | -16.71 | -18.96 | SELL | Sep-14 |
| TOPIX - PRICE INDEX | 43.16 | 38.86 | 29.47 | 17.75 | SELL | Aug-15 |
| ASX 200 | -3.1 | -5.3 | -9.2 | -13.3 | SELL | Jun-15 |
| NZ 50 | 12.18 | 12.5 | 11.64 | 11.22 | SELL* | Jan-15 |
| JSE TOP 40 | 7.69 | 6.67 | 3.89 | 1.88 | SELL | Nov-15 |
| SENSEX | 10.42 | 3.02 | -4.9 | -12.26 | SELL | Mar-15 |
| South America | ||||||
| MEXICO IPC (BOLSA) - PRICE INDEX | 2.99 | 1.76 | 0.22 | -0.32 | SELL | May-15 |
| BRAZIL BOVESPA - TOT RETURN IND | -20.22 | -23.38 | -29.54 | -31.62 | SELL | May-15 |
| MSCI EM LATIN AMERICA U$ - PRICE INDEX | -65.642 | -68.132 | -71.024 | -70.338 | BUY* | Jan-16 |
| Europe/UK | ||||||
| AEX INDEX (AEX) - PRICE INDEX | 25.56 | 20.89 | 14.1 | 7.94 | SELL | Aug-15 |
| ATHEX COMPOSITE - PRICE INDEX | -70.33 | -65.62 | -67.75 | -68.09 | CANCEL BUY* | Jan-16 |
| ATX - AUSTRIAN TRADED INDEX - PRICE INDEX | 7.44 | 9.85 | 5.3 | 1.81 | SELL* | Jan-16 |
| BEL 20 - PRICE INDEX | 27.75 | 25.92 | 20.49 | 14.74 | SELL | Aug-15 |
| DAX 30 PERFORMANCE - PRICE INDEX | 26.33 | 23.67 | 15.69 | 7.54 | SELL* | Dec-15 |
| EURO STOXX 50 - PRICE INDEX | 15.264 | 12.184 | 5.203 | -1.594 | SELL* | Dec-15 |
| FRANCE CAC 40 - PRICE INDEX | 21.79 | 19.39 | 13.59 | 8.31 | SELL* | Dec-15 |
| FTSE 100 - PRICE INDEX | -7.35 | -8.92 | -11.9 | -13.53 | SELL | Jun-15 |
| FTSE 250 - PRICE INDEX | 19.41 | 19.46 | 15.81 | 12.64 | SELL* | Jan-16 |
| FTSE ALL SHARE - PRICE INDEX | -2.83 | -4.07 | -7.12 | -8.98 | SELL | Jun-15 |
| FTSE MIB INDEX - PRICE INDEX | 18.81 | 17.68 | 10.14 | 2.05 | SELL* | Dec-15 |
| IBEX 35 - PRICE INDEX | -1.71 | -5.67 | -12.97 | -19.98 | SELL | Sep-14 |
| IRELAND SE GENERAL (ISEQ) - PRICE INDEX | 67.71 | 69.48 | 64.74 | 59.93 | SELL* | Jan-16 |
| OMX STOCKHOLM 30 (OMXS30) - PRICE INDEX | 20.06 | 14.01 | 5.11 | -1.84 | SELL | Jun-15 |
| OSLO EXCHANGE ALL SHARE - TOT RETURN IND | 1.67 | 1.28 | -1.35 | -2.98 | SELL* | Dec-15 |
| PORTUGAL PSI-20 - PRICE INDEX | -18.03 | -12.72 | -11.49 | -11.97 | CANCEL BUY* | Feb-16 |
| RUSSIAN MICEX INDEX - PRICE INDEX | 38.55 | 36.21 | 32.89 | 34.83 | CANCEL SELL* | Feb-16 |
| SWISS MARKET (SMI) - PRICE INDEX | 6.06 | 5.26 | 0.71 | -4.99 | SELL | Aug-15 |
| Fixed Income | ||||||
| Barclays US Aggregate Bond | 0.67 | -0.55 | -0.66 | -0.5 | BUY* | Feb-16 |
| US 10y Treasury | 5.371 | 3.068 | 2.57 | 2.716 | CANCEL SELL* | Feb-16 |
| UK 10y Treasury | 9.824 | 7.001 | 6.008 | 5.511 | SELL | Jun-15 |
| Japan 10y Treasury | 4.949 | 4.655 | 5.064 | 5.908 | CANCEL SELL* | Jan-16 |
| Germany 10y Treasury | 10.605 | 7.757 | 6.487 | 5.944 | SELL | May-15 |
| FT All Govt | 8.338 | 5.434 | 4.562 | 3.508 | SELL | Jun-15 |
| IBOXX Liquid £ Corp Long-dated | 10.206 | 6.735 | 4.128 | 1.045 | SELL | Jun-15 |
| FTSE British Govt index linked all mats | 20.76 | 16.02 | 13.54 | 10.59 | SELL | Jun-15 |
| Commodities (S&P Goldman Sachs Total Return indices) | ||||||
| Agriculture | -35.58 | -33.23 | -31.85 | -31.07 | BUY | Aug-15 |
| Industrial Metals | -44.74 | -47.3 | -49.41 | -49.35 | BUY* | Feb-16 |
| Livestock | -28.8 | -30.73 | -31.97 | -32.16 | SELL | Dec-14 |
| Precious Metals | -21.82 | -23.31 | -21.99 | -17.05 | BUY* | Jan-16 |
| Gold Bullion | -19.14 | -20.61 | -19.58 | -14.64 | BUY* | Jan-16 |
| Crude Oil | -102.43 | -102.77 | -104.04 | -103.94 | BUY* | Feb-16 |
*New Coppock readings Dec 2015-Feb 2016
