Another week where the commodities can't get rolling. Steel was in the news all week with the tariff announcement but the industry group was down 1.5%. Aluminum was part of the tariffs, and was up 4.2%. Gold forgot to rally again.
Coal continues to smoulder with some warm ash, up 2.5%. Perhaps thats on the back of more steel and aluminum processing under the tariffs. Oil and oil services are up 1.3 to 1.5%. Well, that's a little lift, it is not enough to reverse a lot of the technical damage.
The Renewables had a great week up 4%.
Here is a video I recorded on working with Industry Chartlists. It should really help get things clarified on working and reworking industry lists.
working-with-industry-chartlists-schnell-commodities from StockCharts.com on Vimeo.
Good trading,
Greg Schnell, CMT, MFTA
