Steel And Uranium Leading The Market
Tuesday, May 11th I had the pleasure of being interviewed by Cris Sheridan of FinancialSence.
Image source: United States Steel
The full audio of the interview can be found here:
Audio Length: 00:20:14
Some of the highlights of the interview include:
- The bifurcated nature of this market: tech and growth stocks lagging while financials, homebuilders, and materials are leading
- Discussed how there’s full participation in breadth across the market but not very many high quality leading stocks and breakouts have had trouble following through. This type of action can lead to a weak or corrective market.
- Steel and uranium as two new leading sectors I’m focused on
- Cryptocurrency as a leading sector since February with some extraordinary gains but now stretched from the 30-week moving average and not at a good buy point
- Discussed how sector participation is crucial and when a lot of stocks in a sector are moving at the same time that’s a sign of a sector that is under institutional accumulation
- How relative strength during a correction can show you what the next leading sector will become
- As far as crypto is concerned discussed how buying too late in a breakout can be hazardous
Disclaimer: The views and opinions expressed are for educational and informational purposes only, and should not be considered as investment advice. The author of this website is not a licensed ...
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