A weekly close above $55 for PKX should provide a setup for a longer-term move to $80.
A monthly close above $55 could open the way for a longer-term advance to the $75-$80 area.
A sell-the-bounce approach still appears in order.
UTX could have a bumpy ride if prices fall back below $104.
Charts suggest softer prices lie ahead.

Intermediate Trade: Nucor Real Money Pro($)

The steel sector is showing signs of breaking out.
United Technologies is propelled by a new jet engine in topping analysts' expectations for the quarter.
The deal dynamic for the company -- and the shares -- has become materially more difficult.
Stock had looked bullish, but today's action changes things.
Raise sell stop protection on MMM to lock in a profit, and/or take some money off the table.

Columnist Conversations

The integrity of the channel parameters on the General Electric GE chart could be a tell as to the short-to-in...
In mid August we added some Dec QCOM calls on a rollup, we take these off now. SOLD QCOM DEC 62.5 CALL AT 6...
Seeing a similar early start to trading as of yesterday.  Open pretty flat follow by reversal, especially...
Not pretty, but former net/net (and current double-net) up 15% yesterday on 2 1/2 times normal average volume ...


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