Commerce Clues:

I live just outside NYC and near some of the channels that surround Manhattan, and frequently a large container ships will pass by. Many have the Maersk sign on the side of the vessel, and it is a good thing to see, as global commerce pushes on. Remember stocks are discounting mechanisms, so they will often deliver accurate scenarios as to what may take place 6 months out. The marine transportation space is a small one, but AMKBY has good company with names that are acting well. CMRE is trying to approach the very round 10 number. MATX was rejected at the round 70 figure on Tuesday, but today filled in a gap from just Mondays session. It has demonstrated solid PRICE action POST breakout above a double bottom pivot of 59.74 taken out on 1/6. The chart below of AMKBY is acting very well itself with a clean break above a bull flag formation. Perhaps the overall group is giving investors a sanguine feeling about economic prospects internationally this year.

This article requires a Chartsmarter membership. Please click here to join.