Last Friday the market saw a whiplash of rotation out of technology and into financials. Trade Ideas technology has noticed an uptick in Steel stocks as well. On Friday, the “Trend Change” Top List scan was flashing signals of steel stocks ready for a possible turn. If the institutions continue to rotate out of technology, the infrastructure stocks look ready to move higher. Using a man plus machine approach, we can see that $X has had a textbook “saucer bottom” forming in a tight range on the daily chart.
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