This fund might be a good alternative for hedging portfolios. Metals are always a decent alternative as a low risk instruments.
'Sector Weight
Steel 54.63%
Coal & Consumable Fuels 12.66%
Gold 9.71%
Diversified Metals & Mining ...
XME Metals and Mining Bullish Pennant on Lower Rates, Cheaper Energy. Stagflationary Environment. Gold and Silver would be proxy trades, though overbought and overvalued relative to in my opinion relative to historical real rates which would now technically be in positive territory (Interest-Inflation). Though how this is calculated is up for Debate. If...
XME was a strong trend that hit resistance due to Macro economic data changes and has formed a 2 leg pullback.
Prices bounced off volume levels and sit at the pullback measured move target.
Trade is aggro due to the R/Y sideways trend and prices are below 34ema trend. However, there is a lot volume support below this level.
RAF extreme oversold indicator is...
G/G trend with RAF above Extreme means buy between 13/21 Propulsion/Moving averages.
Need a pullback between MA with RAF above Extremes. If RAF dips below extreme, we will change to a minor low breakout buy.
21/34 Prop dots
Volume Profile in this area.
Vscore support in this area.
Aggressive Buy.
Buy @ 56.30
B/E @ 57.20
Profit @ 58.50
Stop Loss @...
Wanted to chart this after AA alcoa earnings because Alcoa ,X ,FCX are all top holdings in this ETF which means if this ETF corrects those stocks will follow.
Rejection here, at the top of channel on and RSI. I'm looking for a pullback to 50.00 or 200sma. Double top activated below 48
If you noticed, Metal stocks got hammered Thursday and Friday and This white trendline is the reason.
Looks like further pullback is coming for this sector if it can't breakout.
Biggest stocks in this sector are
FCX
X
Hey, I'm watching XME for a short. This setup presents tons of shorting opportunity, IMO. I think when SPY reached $389, this name will be primed for a large sized short; I like how many of the names in this sector look, I think commodity prices are going to drop, and I think XME will drop alongside it. Here's my trade idea and predicted move.
XME (metals) have started the week on a bearish note after a 5 wave bounce that could be an A or a 1
Bounce backs in the short term will likely get sold into. Longs need to be cautious. Intra day rallies can be considered shorting opportunities towards 49-47.5 zone in coming days. SL recent swing high
XME is one of the few etfs that still have a large upside in an environment of high inflation & supply chain issues especially those related to EVs, batteries, semiconductors & renewable energy.
82 will be the measured move of a bull flag BO. 82 is also a confluence of FIB 1.618 & 3.0 & 0.786.
39 is a very strong support so this support will hold & therefore gives...
The Fund seeks to replicate the performance of an index derived from the metals and mining segment of a U.S. total market composite index.
We expect a short term correction that can take prices higher to 57.00. We believe that there is an opportunity to go long at market and add position at 45.00
Nice reversal off previous resistance (now turned into support) and 200 day moving average. We should get some follow through here to the upside. RSI now nicely oversold and should see a mean reversion bounce in short term
XME tracks an equal-weighted index of US metals and mining companies. The listed name for XME is SPDR S&P Metals & Mining ETF.
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XME targets 81.83 if this bullish flag pattern plays out.
XLE energy & XME metal & mining are very sentive to geopolitical events happening now. They belong to a class of their own unlike XLF, XLI, XLY & XLK which are more cyclical depending on economic conditions.
Energy & commodities crisis are not going away soon.
Not trading advice
