From the desk of Steve Strazza @Sstrazza
Thanks to everyone for responding to this week’s Mystery Chart as always.
We had some great responses, most of which were mixed, with a slight majority wanting to “do nothing” and wait to see how price reacts at its former highs.
The chart was the Lithium ETF $LIT, which is breaking out to fresh highs along with a ton of other subsectors within the Materials space right now.
In this post, we will analyze almost every one of the key Materials industry groups to determine whether participation is broadening underneath the surface and supporting the recent strength and rotation into the sector, or vice versa.