Today’s Chart of the Day was shared by Mike Zaccardi (@MikeZaccardi). It's a daily candlestick chart of the Metals & Mining ETF, $XME, over the past five years. Commodity-related stocks continue to be a bright spot in this dull tape. This ETF has exposure to Coal, Industrial Metals, and Precious Metals. The five-heaviest weighted stocks include $BTU, $AA, $ARCH, $ATI, and $NEM. Mike points out that $XME is breaking out to its highest level in nearly a decade. It's been rangebound between $40 and $48 over the past nine months, but it's clearly resolving higher out of that range now. Seeing this ETF breakout is a sign that strength within Commodities is broadening out and likely to continue.
