Don't Ignore This Chart!

NLR - Nuclear Makes A January Jump

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Seasonality is always an interesting part of TA. Look at this trend in NLR.

NLR 20140117

One of the interesting patterns in this chart is the strong January every year. What makes this more interesting is the ETF is now above 80 on the full Sto's suggesting the bull market has room ro go unlike the last 2 years. But this trend of rolling over in the first quarter is puzzling. We are almost three years after Fukushima, so we need to watch closely if this latest uptrend will change the January Jump historical trend. With the previous last high at $50.30, and we are nearing that level now, it would be prudent to protect profits in this ETF. Not necessarily sell, just move the stops up closer.

Some of the Uranium miners also had big moves this week as well.

Good Trading,

Greg Schnell,CMT

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Greg Schnell
About the author: , CMT, is a Senior Technical Analyst at StockCharts.com specializing in intermarket and commodities analysis. Based in Calgary, he is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is an active member of both the Market Technicians Association (MTA) and the International Federation of Technical Analysts (IFTA).

Greg is also the co-author of Stock Charts for Dummies (Wiley, 2018). Greg joined StockCharts.com in 2012 and has be instrumental in helping launch a variety of new blogs and other commentary platforms. Presently, Greg contributes market analysis commentary to The Canadian Technician, Commodities Countdown and Don't Ignore This Chart blogs. Learn More
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