All Eyes on the Old Dinosaur

Even though Alcoa is no longer in the Dow, when it reports earnings tomorrow morning it is still unofficially serves as the start of a new earnings season. This earnings season will take us into Thanksgiving and the holidays before year-end. 

Alcoa is also a big materials player in the world, with its $13 billion market cap nothing to sneeze at in its sector. While it is nowhere as big as RIO or BHP, for example, AA's aluminum speciality does make it worth watching, even though the stock has long been overrated as a market barometer. 

Still, when we look at the weekly chart, below, the possible major bottom outlined should be important as far as whether the mining and materials complex is on the cusp of another leg higher after previously rallying from January into June or so. 

So while it may be easy to poke fun at AA and some of their mediocre reports over the years, the old dinosaur may have some fun coming up with the spotlight temporarily back on it. 

See you after the bell for my recap.