Laying the Foundation

Without question, the industrials and miners are notable outperformers today, even as biotechs and healthcare continue to slack. We will delve into some specific, under-the-radar plays for Members coming up in my usual Midday Video.

But to be precise in the meantime, the move in the XLB (sector ETF for materials/ags/chemicals) is spectacular, busting up and out of a tight base in the context of an uptrend since Election Day. Indeed, to simply focus on miners may be missing some fine setups in this ETF, too. 

It is also impressive to these rallies hold into the early-afternoon despite a pronounced fade to red in steel play AKS, taking down many domestic steels with it. FCX, for example, is near session highs as I write this. 

But, again, there are plenty of overlooked plays in this segment of the market to keep on watch beyond the obvious ones which grab most headlines. 

After laying the foundation in 2016, the "inflation trade" is making its case again today.