By my sector strength scan Steel’s move is by far the most impressive. Not only did we have a breakout that took out the 2010 highs, we did so on 2x the average true range, which means this move should have more to go. Below I included a chart of NUE, which I believe to be the strongest stock in the sector with the others being a close second.
Pay attention to the leaders as they have the best chance of outperforming the sector benchmark going forward should this breakout hold.
