Steel Stocks Ripping

Indices continue to move solidly higher and stocks are starting to move as well very nicely.

I’m seeing lots of buy levels set to go, although I only focus on those I think best, and many more are setting up very well.

That said, overbought readings say we need some consolidation soon.

The steel sector is on a tear and may well become a major theme in the years to come if Trump can pull off massive infrastructure projects and I for one hope he succeeds.

november-23-2016

Great action from SPY into highs, albeit on lower volume than I’d like to see.

We may yet see this breakout fail, but that should only be short-lived.

I still think we’ve got a few years left in this bull market with the real fun still to come.

Have a wonderful night.

Warren

These are my thoughts on the SPY ETF in my Daily Trade Ideas which includes many, many more charts and setups. Subscribe to my ...

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