BPH Energy (BPH:AU) has announced PEP11 Update Federal Court Judicial Review
Download the PDF here.
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Spearmint Resources Inc. (CSE: SPMT) (OTC Pink: SPMTF) (FSE: A2AHL5) (the ‘Company’ or ‘Spearmint’) wishes to announce that it has acquired the ‘Sisson North Tungsten Project’ in New Brunswick directly bordering the Sisson Tungsten Mine. This new project consists of 2,582 contagious acres prospective for tungsten.
James Nelson, President of Spearmint stated, ‘We feel that with the tariff issues that are now very present, tungsten will be one of the most sought after domestically sourced strategic metals. Similar to our foray into antimony, management feels that the China stranglehold will create a demand for tungsten and antimony as the supply chain tightens. We feel that diversifying into these sectors gives our shareholders the best opportunity for success especially now that the junior markets have become very buoyant for tungsten as witnessed by the strong movement of companies such as American Tungsten Corp who’s shares have risen from $0.03 cents in October to a high of $2.37 yesterday showing the strong investor demand for tungsten related companies.’ Mr. Nelson went on to say, ‘In addition, we would like to remind the market of our lithium holdings in Clayton Valley, Nevada, which are prospective for both lithium clay & lithium brine, at a time when we feel domestically sourced lithium projects will garner significantly more market interest in 2025. Despite the negative sentiment around lithium and EV’s over the last two years, the recent data clearly shows that EV sales are increasing and the momentum for EV sales globally is in fact strengthening, not weakening.’
As of February 2025, the United States under President Donald Trump has implemented significant tariffs on imports from China, including a 10% duty on nearly all Chinese goods, effective February 4, 2025. In response, China has enacted countermeasures, notably imposing export controls on critical minerals, including tungsten, which is essential for various industries such as aerospace, electronics, and defense.
Tungsten has always been a valuable material due to its unique properties, such as its extremely high melting point, strength, and durability. It is used in a wide variety of applications, including manufacturing hard metals, electronics, lightbulb filaments, and in military and aerospace technologies. However, China’s actions regarding tungsten have made it even more valuable for several reasons:
- Supply Control: China is one of the world’s largest producers and exporters of tungsten, controlling a significant portion of global tungsten reserves. By tightening its production and export quotas, China reduces the global supply of tungsten. This limited supply increases the material’s value, as demand remains high but availability becomes constrained.
- Increased Demand: As industries evolve, the demand for tungsten in high-tech applications-such as electronics, energy production, and military hardware-has risen. The scarcity of tungsten, due to China’s restrictions, further drives up its market price as industries compete for access to this crucial resource.
- Strategic Resource: Tungsten is a critical material for many industries, particularly in defense and aerospace sectors. China’s control over the supply means it can influence the global market and, in some cases, potentially use tungsten as a strategic lever in geopolitical relations, adding to its perceived value.
In short, the combination of China’s tightening control over tungsten production and the growing demand for this critical material has made tungsten even more valuable on the global market.
Recently, China banned exports of critical minerals, including antimony, to the United States. As trade tensions escalate between the United States and China, this move clearly emphasizes the urgent need for Western nations to secure reliable long-term sources of these critical minerals, which are now at the forefront of the global supply chain crisis.
Qualified person for mining disclosure:
The technical contents of this release were reviewed and approved by Frank Bain, PGeo, a director of the company and qualified person as defined by National Instrument 43-101.
About Spearmint Resources Inc.
Spearmint’s projects include four projects in Clayton Valley, Nevada: the 1,136-acre McGee lithium clay deposit, which has a resource estimate of 1,369,000 indicated tonnes and 723,000 inferred tonnes of lithium carbonate equivalent (LCE) for a total of 2,092,000 tonnes of LCE, directly bordering Pure Energy Minerals & Century Lithium Corp.; the 280-acre Elon lithium brine project, which has access to some of the deepest parts of the only lithium brine basin in production in North America; the 124-acre Green Clay lithium project; and the 248-acre Clayton Ridge gold project, the 4,722-acre George Lake South Antimony Project in New Brunswick and the 2,582 acre Sisson North Tungsten Project.
This project was acquired via staking.
For a cautionary note and disclaimer on the crypto diversification, please refer to the news release dated November 12, 2024.
Contact Information
Tel: 1604646-6903
www.spearmintresources.ca
‘James Nelson’
President
Spearmint Resources Inc.
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/240730
News Provided by Newsfile via QuoteMedia
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ScorePlay, an artificial intelligence service for sports clips, has raised $13 million in series A funding, the company announced Tuesday.
The sports storytelling platform’s investors include 20VC venture capital fund founder Harry Stebbings, Reddit co-founder Alexis Ohanian’s Seven Seven Six VC firm, NBA star Giannis Antetokounmpo, former Formula 1 champion Nico Rosberg, and soccer star and former captain of the U.S. women’s national team Alex Morgan.
ScorePlay’s technology is used by more than 200 sports organizations around the world and helps teams streamline their highlights and clips using AI. The company’s clients include NBA and NHL franchises and leagues such as Major League Soccer and the National Women’s Soccer League.
Ohanian told CNBC that he’s not just an investor, but that he uses the technology through his ownership of NWSL soccer and TGL golf teams, in addition to his new track league, Athlos.
“So many people ask how we’ve been able to have so much success in emerging sports across so many different leagues and ScorePlay is the heart of one of the reasons why,” Ohanian said. “The last two years, they’ve just continued to execute above expectations and ScorePlay has just done such a heck of a job growing here in the States.
“I’ve been very happy to keep putting now millions of dollars at work every single round since,” he added.
Venture capitalist Stebbings said as teams and players move toward producing more of their own media and storytelling content, this tool will allow them to engage fans in new ways.
“Speed is crucial in sports media, with the ability to share highlights within an hour and keep up with [the] fast-paced news cycle,” he said.
ScorePlay’s service, created in 2021 by Victorien Tixier and Xavier Green, automatically tags and organizes content, allowing teams to speed up the delivery to everyone from broadcasters and sponsors to the athletes themselves.
“The idea is to maximize the distribution, both on your own social channel, but also distributing the content to your athletes, who are your best storytellers,” Tixier said.
He added that with so many different channels from social to broadcast and digital, it’s important that users are distributing the best content for each platform.
ScorePlay touts threefold year-over-year growth, and the company said it is profitable, with total funding at $20 million.
Previous investors include Kevin Durant and Rich Kleiman’s 35V family office and Eli Manning.
This post appeared first on NBC NEWS
The U.S. is facing a power capacity crisis as the tech sector races against China to achieve dominance in artificial intelligence, an executive leading the energy strategy of Alphabet’s Google unit said this week.
The emergence of China’s DeepSeek artificial intelligence firm sent the shares of major power companies tumbling in late January on speculation that its AI model is cheaper and more efficient. But Caroline Golin, Google’s global head of energy market development, said more power is needed now to keep up with Beijing.
“We are in a capacity crisis in this country right now, and we are in an AI race against China right now,” Golin told a conference hosted by the Nuclear Energy Institute in New York City on Tuesday.
Alphabet’s Google unit embarked four years ago on an ambitious goal to power its operations around the clock with carbon-free renewable energy, but the company faced a major obstacle that forced a turn toward nuclear power.
Google ran into a “very stark reality that we didn’t have enough capacity on the system to power our data centers in the short term and then potentially in the long term,” Golin said.
Google realized the deployment of renewables was potentially causing grid instability, and utilities were investing in carbon-emitting natural gas to back up the system, the executive said. Wind and particularly solar power have grown rapidly in the U.S., but their output depends on weather conditions.
“We learned the importance of the developing clean firm technologies,” Golin said. “We recognized that nuclear was going to be part of the portfolio.”
Last October, Google announced a deal to purchase 500 megawatts of power from a fleet of small modular nuclear reactors made by Kairos Power. Small modular reactors are advanced designs that promise to one day speed up the deployment of nuclear power because they have smaller footprints and a more streamlined manufacturing process.
Large nuclear projects in the U.S. have long been stymied by delays, cost overruns and cancellations. To date, there is no operational small modular reactor in the U.S. Google and Kairos plan to deploy their first reactor in 2030, with more units coming online through 2035.
Golin said the project with Kairos is currently in an initial test-pilot phase with other partners that she would not disclose. Kairos received permission in November from the Nuclear Regulatory Commission to build two 35-megawatt test reactors in Oak Ridge, Tennessee.
The goal is to get buy-in from partners like electric utilities to create an approach that can broadly deploy the technology, Golin said.
The nuclear industry increasingly views the growing power needs of the tech sector as a potential catalyst to restart old reactors and build new ones. Amazon announced an investment of more than $500 million in small nuclear reactors two days after Google unveiled its agreement with Kairos.
Last September, Constellation Energy said it plans to bring the nuclear reactor at Three Mile Island near Harrisburg, Pennsylvania back online through a power purchase agreement with Microsoft.
Golin said nuclear is a longer-term solution, given the reality that power capacity is needed now to keep up with China in the artificial intelligence race. “Over the next five years, nuclear doesn’t play in that space,” she said.
President Donald Trump declared a national energy emergency through executive order on his first day in office. The order cited electric grid reliability as a central concern.
Trump told the World Economic Forum in Davos, Switzerland that he would use emergency powers to expedite the construction of power plants for AI data centers.
Secretary of Energy Chris Wright issued an order on Feb. 5 that listed “the commercialization of affordable and abundant nuclear energy” as a priority.
This post appeared first on NBC NEWS
Prebiotic soda brand Olipop said Wednesday that it was valued at $1.85 billion in its latest funding round, which raised $50 million for the company.
Founded in 2018, Olipop has helped fuel the growth of the prebiotic soda category, along with rival Poppi, which highlighted its drinks with a Super Bowl ad on Sunday. Both have attracted consumers with their claims that their drinks help with “gut health,” one of the latest wellness trends taking over food and beverage aisles.
Olipop’s Series C funding round was led by J.P. Morgan Private Capital’s Growth Equity Partners. The company plans to use the money that it raised to add to its product lineup, expand its marketing and distribute its sodas more widely.
Today, Olipop is the top non-alcoholic beverage brand in the U.S., both by dollar sales and unit growth, the company said, citing data from Circana/SPINS. Roughly half of its growth comes from legacy soda drinkers, while the other half comes from consumers entering the carbonated soft drink category. One in four Gen Z consumers drinks Olipop, according to the company.
In early 2024, Olipop reached profitability, the company said. Its annual sales surpassed $400 million last year, doubling the year prior. In 2023, Olipop founder and CEO Ben Goodwin told CNBC that soda giants PepsiCo and Coca-Cola had already come knocking about a potential sale.
For its part, rival Poppi, which was founded 10 years ago, has raised $39.3 million as of 2023 at an undisclosed valuation, according to Pitchbook data. Poppi’s annual sales reportedly crossed $100 million in 2023. Its appearance during the Super Bowl was the second straight year that it paid for an ad during the big game.
Poppi has also faced some backlash for its health claims. The company is currently in talks to settle a lawsuit that argued that Poppi’s drinks aren’t as healthy as the company claims, according to court filings.
This post appeared first on NBC NEWS
The U.S. is facing a power capacity crisis as the tech sector races against China to achieve dominance in artificial intelligence, an executive leading the energy strategy of Alphabet’s Google unit said this week.
The emergence of China’s DeepSeek artificial intelligence firm sent the shares of major power companies tumbling in late January on speculation that its AI model is cheaper and more efficient. But Caroline Golin, Google’s global head of energy market development, said more power is needed now to keep up with Beijing.
“We are in a capacity crisis in this country right now, and we are in an AI race against China right now,” Golin told a conference hosted by the Nuclear Energy Institute in New York City on Tuesday.
Alphabet’s Google unit embarked four years ago on an ambitious goal to power its operations around the clock with carbon-free renewable energy, but the company faced a major obstacle that forced a turn toward nuclear power.
Google ran into a “very stark reality that we didn’t have enough capacity on the system to power our data centers in the short term and then potentially in the long term,” Golin said.
Google realized the deployment of renewables was potentially causing grid instability, and utilities were investing in carbon-emitting natural gas to back up the system, the executive said. Wind and particularly solar power have grown rapidly in the U.S., but their output depends on weather conditions.
“We learned the importance of the developing clean firm technologies,” Golin said. “We recognized that nuclear was going to be part of the portfolio.”
Last October, Google announced a deal to purchase 500 megawatts of power from a fleet of small modular nuclear reactors made by Kairos Power. Small modular reactors are advanced designs that promise to one day speed up the deployment of nuclear power because they have smaller footprints and a more streamlined manufacturing process.
Large nuclear projects in the U.S. have long been stymied by delays, cost overruns and cancellations. To date, there is no operational small modular reactor in the U.S. Google and Kairos plan to deploy their first reactor in 2030, with more units coming online through 2035.
Golin said the project with Kairos is currently in an initial test-pilot phase with other partners that she would not disclose. Kairos received permission in November from the Nuclear Regulatory Commission to build two 35-megawatt test reactors in Oak Ridge, Tennessee.
The goal is to get buy-in from partners like electric utilities to create an approach that can broadly deploy the technology, Golin said.
The nuclear industry increasingly views the growing power needs of the tech sector as a potential catalyst to restart old reactors and build new ones. Amazon announced an investment of more than $500 million in small nuclear reactors two days after Google unveiled its agreement with Kairos.
Last September, Constellation Energy said it plans to bring the nuclear reactor at Three Mile Island near Harrisburg, Pennsylvania back online through a power purchase agreement with Microsoft.
Golin said nuclear is a longer-term solution, given the reality that power capacity is needed now to keep up with China in the artificial intelligence race. “Over the next five years, nuclear doesn’t play in that space,” she said.
President Donald Trump declared a national energy emergency through executive order on his first day in office. The order cited electric grid reliability as a central concern.
Trump told the World Economic Forum in Davos, Switzerland that he would use emergency powers to expedite the construction of power plants for AI data centers.
Secretary of Energy Chris Wright issued an order on Feb. 5 that listed “the commercialization of affordable and abundant nuclear energy” as a priority.
This post appeared first on NBC NEWS
In this video, Dave breaks down the formerly high-flying Mag 7 stocks into three distinct buckets. These include long & strong (META, NFLX & AMZN), broken down (TSLA, AAPL, MSFT & NVDA), and questionable (GOOGL). He also shows how GOOGL is not the only leading name featuring a bearish momentum divergence in February 2025, and what that could mean for the broad equity markets!
This video originally premiered on February 11, 2025. Watch on StockCharts’ dedicated David Keller page!
Previously recorded videos from Dave are available at this link.
In what can be called an indecisive week for the markets, the Nifty oscillated back and forth within a given range and ended the week on a flat note. Over the past five sessions, the Nifty largely remained within a defined range. While it continued resisting the crucial levels, it also failed to develop any definite directional bias throughout the week. The Nifty stayed and moved in the 585-point range. The volatility significantly declined. The India VIX came off by 15.77% to 13.69 on a weekly note. While trading below crucial levels, the headline index closed flat with a negligible weekly gain of 51.55 points (+0.22%).
A few important technical points must be noted as we approach the markets over the coming weeks. Both the 50-Day and 50-Week MA are in very close proximity to each other at 23754 and 23767, respectively. The Nifty has resisted to this point, and so long as it stays below this level, it will remain in the secondary corrective trend. For this secondary trend to reverse, the Nifty will have to move past the 23750-24000 zone, one of the critical market resistance areas. Until we trade below this zone, the best technical rebounds will face resistance here, and the markets will remain vulnerable to profit-taking bouts from higher levels. On the lower side, keeping the head above 23500 will be crucial; any breach of this level will make the markets weaker again.
Monday is likely to see a quiet start to the week; the levels of 23700 and 23960 will act as resistance levels. The supports come in at 23350 and 23000 levels.
The weekly RSI stands at 46.20. It remains neutral and does not show any divergence against the price. The weekly MACD is bearish and stays below its signal line. A Spinning Top occurred on the candles, reflecting the market participants’ indecisiveness.
The pattern analysis weekly charts show that after violating the 50-week MA, the Nifty suffered a corrective decline while forming the immediate swing low of 22800. The subsequent rebound has found resistance again at the 50-week MA at 23767, and the Nifty has retraced once again from that level. The zone of 23700-24000 is now the most immediate and major resistance area for the Nifty over the immediate short term.
Unless the Nifty crosses above the 23700-24000 zone, it will remain in a secondary downtrend. On the lower side, keeping head above the 23500 level will be crucial; any violation of this level will take Nifty towards the 23000 mark. The markets may continue to reflect risk-off sentiment overall. Given the current technical setup, remaining highly selective while making fresh purchases would be prudent. All technical rebounds should be used more to protect gains at higher levels. At the same time, staying invested in stocks with strong or at least improving relative strength while keeping overall leveraged exposures at modest levels is important. A cautious and selective approach is advised for the coming week.
Sector Analysis For The Coming Week
In our look at Relative Rotation Graphs®, we compared various sectors against CNX500 (NIFTY 500 Index), which represents over 95% of the free float market cap of all the stocks listed.
Relative Rotation Graphs (RRG) show defensive and risk-off setups building up in the markets. Nifty Bank, Midcap 100, and Realty Indices are inside the leading quadrant. But all these pockets show a sharp loss of relative momentum against the broader markets.
The Nifty Financial Services Index has slipped inside the weakening quadrant. The Nifty Services Sector and IT indices are inside the weakening quadrant. The Pharma Index is also inside this quadrant but is seen as attempting to improve its relative momentum.
The Nifty Media, Energy, and PSE indices are inside the lagging quadrant.
The Nifty FMCG, Consumption, and Commodities groups have rolled inside the improving quadrant, indicating a likely onset of the phase of relative outperformance. The Auto, Infrastructure, Metal, and PSU Bank indices are inside the improving quadrant. Among these groups, the PSU Bank Index is seen rapidly giving up on its relative momentum.
Important Note: RRG charts show the relative strength and momentum of a group of stocks. In the above Chart, they show relative performance against NIFTY500 Index (Broader Markets) and should not be used directly as buy or sell signals.
Milan Vaishnav, CMT, MSTA
Consulting Technical Analyst
In this video, Mary Ellen reviews the market’s flat momentum as uncertainty reemerges after weak AMZN, TSLA and GOOGL reports – PLUS more tariff talk from Trump. She also highlights the move into defensive sectors as growth stocks continue to struggle. Lastly, she shares the top stocks that are keeping the S&P 500 in an uptrend.
This video originally premiered February 7, 2025. You can watch it on our dedicated page for Mary Ellen’s videos.
New videos from Mary Ellen premiere weekly on Fridays. You can view all previously recorded episodes at this link.
If you’re looking for stocks to invest in, be sure to check out the MEM Edge Report! This report gives you detailed information on the top sectors, industries and stocks so you can make informed investment decisions.
On Monday morning, President Trump announced plans to impose 25% tariffs on steel and aluminum imports — a sweeping policy move that’s certain to reshape the Materials sector. While this can negatively affect several industries, domestic steel producers are likely to benefit from increased demand.
How Markets Reacted to the 25% Tariff Announcement
The StockCharts MarketCarpets provides a clear visual of how investors reacted when the tariff announcement made headlines.
FIGURE 1. MARKETCARPETS VIEW OF THE MATERIALS SECTOR. Notice the top gainers consist of domestic metals producers.Image source: StockCharts.com. For educational purposes.
The stocks that gained the most following the announcement were Steel Dynamics, Inc. (STLD) and Nucor Corporation (NUE), both domestic steel producers, as well as Newmont Corporation (NEM), a mining company focused on gold and copper extraction.
The surge in STLD and NUE reflects investor expectations that tariffs will curb foreign competition, allowing US steelmakers to raise prices and expand market share. NEM also gained, likely due to broader market concerns over trade tensions and inflation. On top of this, copper — a key industrial metal — could see supply chain shifts or price fluctuations, depending on how tariffs impact global trade flows.
Let’s take a longer-term look at these stocks relative to the Materials sector and the broader market (S&P 500). Below is a PerfCharts view of their relative performance over the last year.
FIGURE 2. PERFCHARTS OF THE S&P 500, XLB, STLD, NUE, AND NEM. Though NEM outperformed, the other stocks and the Materials sector underperformed the broader market.Chart source: StockCharts.com. For educational purposes.
Global steel production decreased in 2024. So it’s no surprise that the Materials Select Sector SPDR Fund (XLB), our sector proxy, underperformed the S&P 500, and that many steel producers and miners would also underperform the broader market and sector. Interestingly, NEM outperformed the S&P 500, XLB, STLD, and NUE in 2024 due to surging gold prices, strong financial performance, increased gold production, and free cash flow.
Still, if the new tariff environment remains unchanged, then NEM and especially STLD and NUE may have plenty of room to run. Let’s take a look at the sector and all three stocks to see if there are any present trading opportunities.
Let’s start with XLB. Take a look at a 5-year seasonality chart of XLB to get some context.
FIGURE 3. 5-YEAR SEASONALITY CHART OF XLB. Sector performance tends to follow a cyclical pattern, with March, July, and November historically seeing the highest close rates and average gains.Chart source: StockCharts.com. For educational purposes.
Geopolitical shifts under the new administration will likely reshape seasonal trends. Nevertheless, historical context remains valuable. Over the past five years, March has been XLB’s second-strongest month, with a 75% higher-close rate and an average gain of 4.8%. That’s the seasonality picture.
Now, let’s look at the price action from a longer-term trend perspective. Below is a weekly chart of XLB.
FIGURE 4. WEEKLY CHART OF XLB. While the Materials sector has lagged behind the S&P 500, it’s been trending upward nevertheless.Chart source: StockCharts.com. For educational purposes.
This five-year chart shows XLB underperforming the S&P 500. If you go back a few decades, this negative performance has been steady. Yet XLB, due to overall market growth, inflation, and sector-specific cycles, has been trending up in absolute terms.
Demand for materials is cyclical, and the Materials sector Bullish Percent Index ($BPMATE), a breadth indicator, illustrates this clearly. Currently, the BPI is moving upwards, with 31% of stocks within the sector flashing Point & Figure buy signals. Typically a crossover from below to above 30% would issue a bull alert; a move above 50% would strongly favor the bulls, signifying that buyers have the edge. Understanding XLB’s broader trend helps contextualize whether the stocks within the sector are moving with or against the sector’s trend relative to their trajectories.
Let’s look at the daily chart of NEM.
FIGURE 5. DAILY CHART OF NEM. Is it a new bullish trend or a bear rally?Chart source: StockCharts.com. For educational purposes.
NEM is attempting to recover from a steep selloff that began in October. The key question is whether the bullish reversal signals the start of a robust recovery or a temporary bounce within a sustained downtrend.
To gain insight into this question, let’s examine a couple of indicators: one that measures momentum and another that analyzes volume. Volume-wise, the Accumulation/Distribution Line (ADL) plotted behind the price shows strong money flow into the stock, its buying pressure supporting NEM’s recovery. The Commodity Channel Index (CCI) is showing strong bullish momentum, yet indicates that NEM may be sailing into overbought conditions.
The key levels to watch are near the top line (Leading Span B, red cloud) and the projected bottom line (also the Leading Span B, but in the green section) of the Ichimoku Cloud. If price declines at or near the top, but bounces at the bottom, the bullish reversal thesis remains intact, signaling a potential early buying opportunity for those looking to get into the stock. If prices fall below the bottom level, the downtrend is likely to resume.
Now let’s look at the domestic steelmakers on the list, starting with a weekly chart of STLD.
FIGURE 6. WEEKLY CHART OF STLD. The stock price looks like it’s in a volatile ascent.Chart source: StockCharts.com. For educational purposes.
I’m highlighting a weekly rather than a daily chart for two reasons: First, you can’t see the larger (trend) context on a daily chart, and second, the key levels are just as apparent in the weekly as in the daily chart.
Over the last six years, of which the last three are shown on the chart, STLD has been trending upward with increasing volatility. Steel production in the US may have decreased significantly in 2024, yet STLD prices continue to cumulatively rise. This trend underscores the inherent cyclicality of the steel industry, as evidenced by the fluctuating prices.
NOTE: Although “seasonality” and cyclicality can be related, the latter refers more to macroeconomic, industry, and supply-demand shifts. These typically drive fluctuations in a manner that gets smoothed out in seasonality charts. So, when I use the term “cyclicality,” I’m referring to these fluctuations before them being “averaged out” in a seasonality calculation.
The ZigZag line illustrates the major swing highs and lows that define the trend, as well as key support and resistance levels. If STLD’s uptrend were to maintain its trajectory, price must stay above the swing low level slightly above $110 (see magenta line) and eventually break above resistance at the most recent swing high at $155. Given this is a weekly chart, it may take months to play out (assuming the longer-term uptrend sustains itself).
Note, however, that the selling pressure appears to be the dominant driver for near-term volume, according to the Chaikin Money Flow (CMF). If volume precedes price in this particular instance, then a pullback may be imminent.
Last, but not least, take a look at a daily chart of NUE.
FIGURE 7. DAILY CHART OF NUE. The stock is in a downtrend and all the indicators spell a bear rally.Chart source: StockCharts.com. For educational purposes.
NUE may have jumped 6.24% on Monday, but what are investors rushing into? While Trump’s 25% tariffs on steel and aluminum imports are likely to boost domestic steel producers, NUE is amid an arguably robust downtrend.
Its response to the 61.8% Fibonacci Retracement (drawn from the December high to low) isn’t promising either, making the recent surge look more like a bear rally than a bullish trend reversal. Additionally, the CMF has remained largely negative, dipping well below the zero line and recently crossing it again, indicating that selling pressure continues to dominate.
However, there are shoots of hope, as NUE appears to be rising against the broader Dow Jones U.S. Iron & Steel Index ($DJUSST) of which NUE is a component (see magenta line). If NUE stays above the $115 level (the most recent swing low), then such a level may signal a bottom. Of course, you’ll want to make sure that volume and momentum support are aligned with this potential reversal.
At the Close
If you’re bullish on U.S. steel producers, consider adding these stocks to your ChartLists, keeping a close watch on the MarketCarpets Materials sector view, and staying informed on industry news. With these tools and insights, you’re likely to spot a market opportunity.
Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.