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.
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