Copper and Rails…Both sensitive economic industries. Are both looking up, showing signs of improvement? The chart below was posted on dshort earlier this morning, which happen to reflect upside breakouts from falling channels.
On 9/1, the chart below was posted here, which suggested that a low was in place for the 500 index, due to the pattern and long downside wicks.
Big-time falling resistance test is at hand this morning, in the 500 index. Will update that chart later today.
Due to this key resistance, protect the nice gains in Chile (ECH) and Homebuilders (XHB) with a tighter stop than normal. Place a 3% trailing stop right now.