Poetry In Motion:
For all the recent incessant chatter in this rate environment how energy, financials, and industrials should be outperforming, only one of that sector trifecta is not pulling its weight. Just a few of the industrials that should be at least treading water, and instead are taking on boatloads include WM. The stock is 15% off most recent 52 week highs and on its first 6 week losing streak in years. FAST is 20% off highs made on 12/31, and it too is on a current 6 week losing streak (one would have to go back 11 months prior to its last 3-week losing streak). That’s what makes the PRICE action in the chart below more special. DE is looking very constructive and last Friday the stock was basically UNCH on a very nasty tape. Here we take a look at its WEEKLY chart and we see a 9-month cup base coinciding with the very round 400 number. Last week demonstrated excellent relative strength up 6.3% as the XLI fell .8%. One could wait for PRICE confirmation above 400, or could even take a stab here as it is still above the cup with handle pivot of 388.20 taken out on 2/8.