This is chart number 4 showing the basic metals components of-XME. The previous three charts were CLF-X-ATI. They were all weak. This chart is for-AKS. AK Steel produces flat-rolled carbon, stainless and electrical steel products, as well as carbon and stainless tubular steel products, for automotive, appliance, construction and manufacturing markets. AKS-is a component of-XME. XME-has been weak for the past month. I suspect the basic metals components in-XME (iron-copper-steel-zinc-aluminum) are weaker than the gold-and-silver miners. For-AKS: The indicator on the top of the page is RSI / Stochastic , and this is weak. The top middle indicator is vortex and it is weak (red over green). The Top (bar-type) indicator measures the "phase energy" of the stock , and this is weak, now below zero. Until these indicators reverse to the upside, and the prices rise above the cloud and 89 day moving average, this stock is a sell.
My conclusion: basic metals stocks are weak. This weakness will cause ETF-weakness in-XME.