[Video] Cracks Appear in Copper’s Rally, Disney Falters at Resistance
Matt Simpson June 3, 2021 3:35 AM
Today we look at trader positioning on copper and question if its current rally is sustainable, and highlight a key level for today’s session.
And staying with metals, we also take another look at Silver. The grey metal has been frustrating of late, as it refused to break trend support whilst simultaneously struggling to keep hold of gains. But we think we may have identified the key level to watch to move things along. As for US stocks, we analyse Disney (DIS) which may be setting itself up for another drop.
S&P 500: Market Internals
- Energy (1.74%) was the strongest sector and Materials (-0.93%) 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
- 262 (51.88%) stocks advanced and 240 (47.52%) declined
- 90.3% of stocks closed above their 200-day average
- 77.43% of stocks closed above their 50-day average
- 62.38% of stocks closed above their 20-day average
- + 7.68% - Schlumberger NV (SLB.N)
- + 7.15% - ETSY Inc (ETSY.OQ)
- + 6.07% - HollyFrontier Corp (HFC.N)
- -5.16% - Nucor Corp (NUE.N)
- -5.03% - Tapestry Inc (TPR.N)
- -4.12% - PVH Corp (PVH.N)
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