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Basic materials May 31 SMG BASF MOS DD DOW RIO IP LYB ECL SHW

Basic materials. Scott’s miracle grow One, two, three, four, five, six, seven, eight, nine, 10, sorry, two weeks. Yeah, I still below the a hundred. I don’t like it. It looks terrible. Well, I don’t know. It’s kinda kind of consolidating let’s look at that. So our initial low, so like our range is from here to here, right? About nine points. It’s it stayed within those nine points. Cause let’s look at this, All the stuff in there we go.

That’s our low, you see where it touches the line. And as long as it, we broke below this low right on Friday, but then jumped back up, right. It didn’t close below there. So it looks like it looked below and fail. However, our major resist earth support line was back here at the two 12. Right. And let’s not forget, we’re still within the two oh nine to two 24. So it’s not like it’s, it’s that horrible. Cause what we entered this back in March, so it looks terrible. Right. And it’s pretty far off it’s high, however, it’s it really didn’t go very far. Right. It’s still within like a major range of right here. Cause what it is was our hammer back here. This was a three, five, and since three, five, I mean, we haven’t really gone down very well. Let’s kind of bring out, let’s see what’s going on. So yeah, we had like, even before, if these lines were to extended out here, right. It’s okay. Boom and Boom.

So it looks, it looks bad over here. Like if we just looked where we were over here, it looks kind of like it’s just in free man’s land, but when you bring it out, you kind of see, yeah, it’s had resistance at that line support resistance basis. Give or take support resistance right there. So it’s been in this range for quite some time or this is a normal range, not to worry about, let’s see what it does next week. If we can get above the hundred, right. Then I’d feel more comfortable and really above the two 24, this, this torque awards, which was a dotted line before I just drew a line. As you can see there, there, it was anyway, you get the point if it can hold a 24 89, then I’d say let’s, it’s kind of made the turn and looking to make go higher, but not until it can prove that it does it B a S F

Monday. We had a great day, but then kind of fizzled all the way out. We’re still basically maintaining the hundred. So it doesn’t look pretty, but as long as it holds a hundred, I don’t see anything wrong with it. Mosaic, frustrating stock. However, it looks like it’s turning the corner. Like if you look over here before the last run-up we got close to the 50 and then look, we got close to the 50. So watch for the run-up. Let’s see what percentage gain we had made from here to here. Four bucks. 15%. Okay.

Right. So if we were to go 15% from here Which would make sense. So look for maybe hitting the 38, which would make that 38 98. This is about 14%. It went 15%. So let’s look for a breakout of that. Be careful to break out right here, just because it’s so close to this line. I could have drew my line, my, my lines wrong. So it could be my mistake, but we do have a lot of, lot of like breakout material one, two, three. So there’s a, there should be a decent amount of momentum that’s behind mosaic. So if it can pop this 38, then look for the 42 DuPont.

Now this is the last two weeks. I mean, you’re going to see, it’s kind of, excuse me. If you’ve been paying attention to the stock markets, it’s been like this on a stock market too. Like a couple of big days up a couple of big days down. I mean, they’re, they’re kind of sneaking it in ripping people’s heads off and then getting in decent positions. And I mean, the market’s about to break to new highs again, which is crazy since it seems like Monday, we had a massive down day or one of these days, we had a massive down day. And if you think of last week or two weeks ago, the market was in disarray, but we’re almost at the all time highs went again. So the whole market kind of looks like this. We have our breakout or the, the high, at least the yearly high of 87.

We’re getting close to it as like I’m saying, cause look one, two, three, four, five, six, seven, eight, nine, 10. So what two weeks ago from today we have a massive pop day. And then what a week ago we were last week, we get destroyed down to the 82 and now like where we are right now, we’re in the middle of that. So look for pending the market it’s Monday, but it’s a holiday. So I don’t know what the futures are doing, but if, if if anything goes, well, I would say, look for the 86 doubt industrials. I like it. If it gave him again, holding the 68 21, you can kind of see all of these basic materials or carnosine same pattern. They’re right around some, either resistance or support and looking like they’re going to, they want to make a big move this last week. Wasn’t very great for a basic material. As you see the last two weeks, they’ve been pretty stagnant. Rio Tinto Had a massive down. This is May 5th. This is all within one month. Basically what a 10 point drop overnight gains a couple points. Yeah,

I don’t, I didn’t see anything wrong with it when it hit here, but it flushed everybody out. And this is a gapper as you look, it seems like it likes the gap. This could be the, the professional gap, right? So what they will do sometimes is, you know, their gap, everybody down gap, everybody down. And so then you’re anticipating that it’s going to continuously go down and instead of it going down, cause like look had a big day and then boom, they destroyed. You had a nice day destroyed you. Right? So how here a lot of people would cause it’s really close to the lines, right? So a lot of people would guess that it’s going to be going down. So they short it right here. And then what do they do? They gap it higher. So that’s a professional gap. They get it in before everybody else could get in. And they, most of the time they run it. Let me see something.

See the profit gap. You see it better here. Like even overnight trading overnight trading nothing. And then even look at that there’s only 2300 contractors shares that traded at that to bring it up to that level. Well, at overnight it’s quite large because it was 200, 200, 200, 250,000. This is hours obviously. But then at four o’clock in the morning, 2300 shares were bought who was paying attention to that at four o’clock in the morning. Oh, that’s right. Nobody. Cause that’s what a professional gap is. And look here seven more than 23,000. Right? So there’s no, there is literally no way you would have been able to get, get in there. And that’s what I mean by professional gap. There’s a lot overnight volume right there. Cause if you will right here. Oh wow. They have a lot of overnight trading in these last few days. If you see it, a lot of overnight trading International paper.

So yeah, it did exactly what I want you to remember. The last, this is, this is last week. So this is bringing us into the week. Hit resistance came down, hit resistance. Again, came down, did not break the low holding it. If it doesn’t break this low right here, look forward to hopefully break this 64 57. It did right here, but got rejected. So, but be careful because this one did not make a new high, so it could be a head or shoulder head, shoulder down, but it doesn’t, but we’re still, we’re making consistent highs, higher lows. So just look for it to break out. I would say break out [inaudible] Gap down, start picking up juice on Wednesday kind of nasty day on Friday. However

It makes basic sense. Cause look w resistance. It kind of got stuck in it tracks, right, right here, right here or here, right here. And then this is a little bit higher, but then right there, basically. So look above and then fail. I would say just give it another little day and we’re going above one 16. Cause if you pay attention, look at this with all of the basic materials, it looks like this. It just seems like this one is the first one to kind of break. It was a little bit before it’s it’s it’s classmates. And so it came down on Friday, but I’m saying I, I see basic materials having a good week this upcoming week. Well maybe not eco lab, but again it’s the same one, two, three, four, five one two three, four, five. So it’s basically the same thing, exact showing of all the other ones. I mean, we had this and we’ve had a massive drop-off right. So two 25 to two 15 to, well, but let’s look at the weeks

When you put it like that and you go weeks instead of days, it hasn’t really moved anywhere. Right. We had a nice little run up of one, two, three, four, five weeks straight up and then kind of got beaten down for the last, not very long at all. Well really we’ve been in a squeeze since March. So we are in a squeeze even before the run-up. We were above the place above the position where we were when we started this school, this squeeze, this is the squeeze down here, the red dots. I don’t see any problem with this. I do see like, look, we’re getting close to where the 50 weeks, 50 weeks support. I don’t like the momentum over the last two weeks, but I mean, that’s just the last two weeks. It’s been a squeezed for quite some time.

I’d want to see it above the 100 and kind of start making it above these, which you remember last week it was below, but it, it did make above, but it did not close the week above. So I’d like to see it close the week above, maybe above the one 17 or the two 17. If it hit the two type in 17 and holds it, then I look for the upward mover movement to probably two 30 to even higher to fit two 50. Cause it looks like it wants to break the two 30. It’s just having a hard, a decent or a difficult time to do it. So we stopped out here. This is last year, flushed out all the shorts and now was in November, October. And then since then we’ve been kind of on an upward, but in a range, in a nasty trading range where isn’t really going nowhere, it’s a pretty large rain.

It’s one 99 to two 31. And it’s almost the same. The range over here is a little deeper, but it’s basically the same. So if you want to really be more politically correct, the ranges for the last year is the 83 to the two, one 83 to two 31 with a little bit of a dip below and a little bit of a dip above. But other than that, it’s about it. Sherwin Williams paint about to get into a squeeze. Honestly, it kinda seems like it’s, we might have a nasty drop just down to 72, which it looks nasty on the chart, but it really wouldn’t be that nasty. It’s only 10 points and this, this sense it went three to one has been pair of balls. Aye.

I wouldn’t even be surprised. I would still say this stock is extremely bare or bullish. The date is see, look, you draw those lines and we’re right at Support Of the two 82. So it looks terrible, but it’s really not really not. I would even say it could drop all the way down to the two 68 and still be a bullish. But look at that the fifties above the 50% were, or the 50% for retracement. So I, the two 74 to 72 area, I do see that it could go all the way down to there. If it can get down there and hold there. I like to get in there. That would be beautiful because if it holds that, then we’re looking for at least the 30 or 20 to 20 to 20 to 30 point pop just to break the highs of the two 93, which I mean, this could take forever. So I mean, this was in May 10th. It’s May 31st right now. So it was 21 days ago that we hit the high and it’s just been in a range sense. So it could take a minute, but I do like it.

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