Solar stocks had an emotional outbreak across the industry group today. While the big move occurred on Fed Day, it was not because of Janet Yellen's presser. The TAN ETF represents a basket of solar-related stocks. The price action yesterday moved through the trend line and today was a gap-up extension of the move.
You can also use the RRG tool.
Here is an 8-year trend line break by First Solar FSLR. This looks like a very good entry on solar. Notice the SCTR reaching 99% today!
Sun Edison recently sold off and has started to shine the last few days. The last run in this stock was good for 2000% over a 2 year period.
If you are not familiar with the solar story, I wrote a series of 9 articles on Solar stocks a year ago that are still helpful for setting up lists, tracking, scanning, and setting alerts for them. Here are the links. I have left the articles unedited from the original writing a year ago, but the premise on following them should be great and the charts are all clickable so you can look through them.
Here is a screenshot of the solar stocks/renewables from today!
It is also interesting that solar stocks were tweaking my interest a year ago in December 2014 and turned out to be wrong. That was more to do with the drop in oil.
I'll be covering this off on the webinar tomorrow. FSLR was a question on last week's webinar and I thought we might have to wait for oil to make a base. Obviously not! Speaking of the webinar, Click here to register for Commodities Countdown 20151217.
Good trading,
Greg Schnell, CMT
