The coal, steel, nat-gas, and mining stocks got crushed about 2 hours ago as the dollar rallied over Greece. These stocks have some very BEARISH reversal patterns and look like they will stay under pressure.
Remember, this group has been a KEY LEADER over the past 2 months!
Look at the degrading internals at today's triple peak at ES 1175-ish -- the number of NYSE adv-dec issues decreased by 200 from the 1st peak to the 3rd peak.
The coal, steel, nat-gas, and mining stocks got crushed about 2 hours ago as the dollar rallied over Greece. These stocks have some very BEARISH reversal patterns and look like they will stay under pressure.
ReplyDeleteRemember, this group has been a KEY LEADER over the past 2 months!
Look at the degrading internals at today's triple peak at ES 1175-ish -- the number of NYSE adv-dec issues decreased by 200 from the 1st peak to the 3rd peak.
ReplyDeleteThe degrading internals also showed up in the indices:
ReplyDelete$SPX -0.17% vs $SPXEW (unweighted) -0.47%.