Nucor-manufactures steel and steel products. Co. also produces direct reduced iron-known as DRI-for use in its steel mills. Through its The David J. Joseph Company subsidiary and its affiliates, Co. also processes ferrous and nonferrous metals and brokers ferrous and nonferrous metals, pig iron, hot briquetted iron and-DRI. Co.'s primary customers are located in North America, but Co. is doing business outside of North America as well. Co.'s operations include several international trading companies that buy and sell steel and steel products manufactured by it and others. Co. reports its results in three segments: steel mills, steel products and raw materials.
NUE-is a component of-XME.
XME-has been weak for the past month.
I suspect the basic metals components in-XME (iron-copper-steel-zinc-aluminum) are weaker than the gold-and-silver miners.
The indicator on the top of the page is / , and this is weak.
The top middle indicator is and it is weak (red over green).
The Lower (bar-type) indicator measures the "phase energy" of the stock , and this is weak, now below zero.
The jaws have closed. This indicates loss in upward momentum and a likely change in trend.
Until these indicators reverse to the upside, this stock is a sell.
My conclusion: basic metals stocks are weak. This weakness will cause ETF-weakness in-XME.
Good luck to you. Don.