This chart highlight is a follow-on to a theme we continue to feel strongly about and hit most recently in a note entitled, “Jim Rogers said / Chart Spotlight – Metals & Mining” and in the 22V Webinar earlier today.
Aside from letting the charts do most of the talking themselves, we think it’s worth highlighting that today the XME is moving to a near 10-year high (that is not a typo) on an absolute basis, is at its highest level relative to the S&P since October 2018 and, is at its highest level since April 2019 vs. NASDAQ.
Our Scoring for the components of the XME is robust and we also continue to like the Iron Ore stocks and we love Freeport-McMoRan (FCX, below).
