Another Chance for U.S. Steel on Groundhog Day

Punxsutawney, Pennsylvania sits eighty-four miles northeast of Pittsburgh and U.S. Steel headquarters. Seeing as Punxsutawney Phil the Groundhog saw his shadow and predicted six more weeks of winter today, that part of Pennsylvania seems to be even more in focus given the valiant comeback letter X is enjoying today. 

On the X daily chart, below, note how the earnings sell-off from yesterday has been erased as Trump makes some bullish remarks about domestic steels.

But regardless of the reason, we know the chart has been consolidating overall since early-December, after the post-election rally. 

And thus every day is like Bill Murray in Groundhog Day, with bulls getting another crack at a fresh breakout. It is not all about domestic steels, though, as we are looking at a few foreign ones with good charts for Members. 

But if X can clear $34.50 now, it would seem to make an imminent breakout here a viable threat.