Steel Stocks Have Been Flying Higher. The Chart Says Another Monster Move Could Be Coming.

Commodities like steel (HVH26) are notoriously volatile, as many Barchart readers know. But steel is also viable as a trading asset. These days, I tend to track it via the VanEck Steel ETF (SLX). This industry tracker is approaching its 20th birthday. You can see the top holdings here, including Nippon Steel (NPSCY), which acquired US Steel, among the 39 stocks in SLX. It is concentrated as so many industry ETFs are, at more than 60% across its top 10 holdings. The fund is not huge, at $200 million. But i ...