After I dumped my GLD (NYSE:GLD) calls this morning, I started to wonder who my next victim would be. My eyes landed on the Metals & Mining ETF SPDR S&P Metals and Mining ETF (NYSE:XME), whose long-term chart sports a series of lovely reversals.
SPDR S&P Metals and Mining ETF
Looking closer at the most recent one, it’s still very much in formation – – perhaps 90% complete – – but most enticing.
SPDR S&P Metals and Mining ETF
As a reminder, SlopeCharts can go way back in time for intraday data (far more than most charting systems), so here’s the past couple of months on a minute bar basis. The worm has turned.
SPDR S&P Metals and Mining ETF
Read more at : https://www.investing.com/analysis/nothing-could-be-finer-than-a-short-sale-that-is-miner-200496730
