Industrial Metals Still in Big Picture Bullish Stance

With our bond bounce played out at least in part, it is time to ask whether the other side of the trade (the inflation trade) is ready to resume its rally. My favorite segment within that (no current positions, but considering buying some miners back) has been the industrial metals. Here is an update of GYX’s big picture if it holds above 370 or so.

The index is in its 2nd month of downward consolidation, not coincidentally as bonds have bottomed and bounced. But this is a still bullish picture. We’ll look at the miners in NFTRH 491.

gyx

Subscribe to NFTRH Premium for an in-depth weekly market report, interim updates and NFTRH+ chart and trade ideas; or the free eLetter for an introduction to our work. You can also keep up to date with plenty of actionable public content at NFTRH.com by using the email form on the right sidebar. Or follow via Twitter @BiiwiiNFTRH, StockTwits or RSS. Also check out the quality market writers at Biiwii.com.