[Video] Copper ‘Pipes’ Up, AIG Hints at a Short Squeeze
Matt Simpson May 28, 2021 2:04 AM
Copper rallied over 3% yesterday, on the back of renewed stimulus talks in the US, stronger economic data and potential mining strikes in Chili.
We also update our analysis on Berkshire Hathaway (BRK.B) which appears set to break out of a continuation pattern and resume its trend. We also introduce American International Group (AIG) to the watchlist for a potential long setup. What makes this stock of particular interest is that it is the second most-shortest stock on the S&P 500. So if prices continue to rise it could squeeze some of these shorts and add further fuel a bullish rally.
S&P 500: Market Internals
S&P 500: 4200.88 (0.12%), 27 May 2021
- Industrials (1.3%) was the strongest sector and Utilities (-0.65%) was the weakest
- 6 out of the 11 S&P 500 sectors closed higher
- 5 out of the 11 sectors outperformed the S&P 500
- 5 out of the 11 sectors traded lower on the S&P 500
- 332 (65.74%) stocks advanced and 172 (34.06%) declined
- 90.89% of stocks closed above their 200-day average
- 62.38% of stocks closed above their 20-day average
- + 7.09% - General Electric Co (GE.N)
- + 7.05% - Ford Motor Co (F.N)
- + 5.25% - Invesco Ltd (IVZ.N)
- -7.71% - Dollar Tree Inc (DLTR.OQ)
- -3.14% - eBay Inc (EBAY.OQ)
- -2.53% - Pinnacle West Capital Corp (PNW.N)
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