{"id":205291,"date":"2024-04-23T08:21:38","date_gmt":"2024-04-23T12:21:38","guid":{"rendered":"https:\/\/ibkrcampus.com\/?p=205291"},"modified":"2024-04-25T12:04:50","modified_gmt":"2024-04-25T16:04:50","slug":"chart-advisor-considering-strength-in-commodities","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/chart-advisor-considering-strength-in-commodities\/","title":{"rendered":"Chart Advisor: Considering Strength in Commodities"},"content":{"rendered":"\n<p>By\u00a0<strong>C. Theodore Hicks II, CFP, CKA, CMT<\/strong><\/p>\n\n\n\n<p><strong>1\/ Inflation Sensitive<\/strong><\/p>\n\n\n\n<p><strong>2\/ Commodities<\/strong><\/p>\n\n\n\n<p><strong>3\/\u00a0<strong>Natural Gas<\/strong><\/strong><\/p>\n\n\n\n<p><strong>4\/ Copper Miners<\/strong><\/p>\n\n\n\n<p><em>Investopedia is partnering with CMT Association on this newsletter. \u00a0The contents of this newsletter are for informational and educational purposes only, however, and do not constitute investing advice. The guest authors, which may sell research to investors, and may trade or hold positions in securities mentioned herein do not represent the views of CMT Association or Investopedia. Please consult a financial advisor for investment recommendations and services.<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-1\">1\/<\/h2>\n\n\n\n<p><strong>Inflation Sensitive<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1100\" height=\"508\" data-src=\"\/campus\/wp-content\/uploads\/sites\/2\/2024\/04\/23.04-1-1100x508.png\" alt=\"\" class=\"wp-image-205292 lazyload\" data-srcset=\"https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/04\/23.04-1-1100x508.png 1100w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/04\/23.04-1-700x323.png 700w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/04\/23.04-1-300x139.png 300w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/04\/23.04-1-768x355.png 768w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/04\/23.04-1-1536x710.png 1536w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/04\/23.04-1.png 1920w\" data-sizes=\"(max-width: 1100px) 100vw, 1100px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1100px; aspect-ratio: 1100\/508;\" \/><\/figure>\n\n\n\n<p>Our first chart for today is a\u00a0<strong>weekly<\/strong>\u00a0Relative Rotation Graph. If you have been reading these pages for long, you are familiar with the RRGs. For newer readers, you can find an Investopedia article on RRGs\u00a0<a href=\"https:\/\/www.investopedia.com\/relative-rotation-graph-8418457?hid=c9995a974e40cc43c0e928811aa371d9a0678fd1&amp;did=12748108-20240423&amp;utm_campaign=chart-advisor_newsletter&amp;utm_source=investopedia&amp;utm_medium=email&amp;utm_content=042324#:~:text=The%20relative%20rotation%20graph%20(RRG,asset%20classes%20against%20a%20benchmark.\">here<\/a>.<\/p>\n\n\n\n<p>The RRG above shows the eleven main sectors of the S&amp;P 500 with the S&amp;P 500 itself being the comparison index. I\u2019ve also added a commodity index. In particular, this RRG confirms what we discussed in yesterday\u2019s article: commodities and energy have indeed gained a lot of strength. Both (DJCI and XLE) are in the \u201cImproving\u201d (blue) quadrant and both have nice long tails indicating strong momentum. This RRG gives us a clue as to where we should investigate next.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-2\">2\/<\/h2>\n\n\n\n<p><strong>Commodities<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1100\" height=\"501\" data-src=\"\/campus\/wp-content\/uploads\/sites\/2\/2024\/04\/23.04-2-1100x501.png\" alt=\"\" class=\"wp-image-205293 lazyload\" data-srcset=\"https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/04\/23.04-2-1100x501.png 1100w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/04\/23.04-2-700x319.png 700w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/04\/23.04-2-300x137.png 300w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/04\/23.04-2-768x350.png 768w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/04\/23.04-2-1536x700.png 1536w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/04\/23.04-2.png 1920w\" data-sizes=\"(max-width: 1100px) 100vw, 1100px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1100px; aspect-ratio: 1100\/501;\" \/><\/figure>\n\n\n\n<p>Given the strength of commodities and energy, we should investigate opportunities in those spaces. Chart 2 is a weekly RRG for a number of different commodity related ETFs. Notice the vast majority of them have strong tails with a northwest heading. That is what we want to see.&nbsp;<\/p>\n\n\n\n<p>We will examine two options; FCG and COPX.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-3\">3\/<\/h2>\n\n\n\n<p><strong>Natural Gas<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1100\" height=\"509\" data-src=\"\/campus\/wp-content\/uploads\/sites\/2\/2024\/04\/23.04-3-1100x509.png\" alt=\"\" class=\"wp-image-205294 lazyload\" data-srcset=\"https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/04\/23.04-3-1100x509.png 1100w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/04\/23.04-3-700x324.png 700w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/04\/23.04-3-300x139.png 300w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/04\/23.04-3-768x355.png 768w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/04\/23.04-3-1536x710.png 1536w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/04\/23.04-3.png 1920w\" data-sizes=\"(max-width: 1100px) 100vw, 1100px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1100px; aspect-ratio: 1100\/509;\" \/><\/figure>\n\n\n\n<p>Here we have a&nbsp;<strong>weekly<\/strong>&nbsp;candle chart for a natural gas related ETF, FCG. A close examination of this chart shows that FCG got hot and moved higher&nbsp;<strong>nine weeks in a row&nbsp;<\/strong>resulting in a minor breakout from a multi-year base. Then, on April 11th, it began to cool off. (Sorry, I could not resist the temptation to add a heating related pun.)<\/p>\n\n\n\n<p>The most recent candle represents the current week, so only one day of trading. But notice that Monday\u2019s trading took the ETF back to these multi-year highs. For swing traders, one could enter here and use last week\u2019s lows as their stop. If commodities are going to remain strong, this recovery from a pullback could offer a relatively low-risk entry.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-4\">4\/<\/h2>\n\n\n\n<p><strong>Copper Miners<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1100\" height=\"526\" data-src=\"\/campus\/wp-content\/uploads\/sites\/2\/2024\/04\/23.04-4-1100x526.png\" alt=\"\" class=\"wp-image-205295 lazyload\" data-srcset=\"https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/04\/23.04-4-1100x526.png 1100w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/04\/23.04-4-700x335.png 700w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/04\/23.04-4-300x144.png 300w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/04\/23.04-4-768x368.png 768w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/04\/23.04-4-1536x735.png 1536w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/04\/23.04-4.png 1630w\" data-sizes=\"(max-width: 1100px) 100vw, 1100px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1100px; aspect-ratio: 1100\/526;\" \/><\/figure>\n\n\n\n<p>Our final chart for today is a&nbsp;<strong>daily<\/strong>&nbsp;candle chart for a copper miners ETF, COPX. If we were to look at a weekly chart, we would see a similar multi-year basing formation for COPX. Personally, I like the looks of FCG\u2019s base more than COPX, but both are attractive. One reason I like FCG\u2019s chart a little more is that it sports a 200-day moving average that has been curling up a bit longer; whereas COPX\u2019s 200-day has only recently turned up due to the massive rally that we\u2019ve seen in copper recently. So, COPX may be due for a bit of consolidation.<\/p>\n\n\n\n<p>Based on the RRGs that we examined, it appears that active traders need to be looking for opportunities in the energy and commodity spaces. Part of our macro-thesis is that we are quite possibly in a secular bear market that is just experiencing a cyclical bull phase. The fact that inflation is not going away contributes to this thesis. Note that this thesis does not have to be correct in order for these trades to work. However, if inflation is not going away, then it stands to reason that inflation sensitive sectors might do well. We just need to wait for the proper low-risk set-ups. In my view, FCG\u2019s set up is a bit cleaner.<\/p>\n\n\n\n<p>&#8212;<\/p>\n\n\n\n<p>Originally posted 23rd April, 2024<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The RRG shows the eleven main sectors of the S&amp;P 500 with the S&amp;P 500 itself being the comparison index. I\u2019ve also added a commodity index. In particular, this RRG confirms what we discussed in yesterday\u2019s article: commodities and energy have indeed gained a lot of strength. Both (DJCI and XLE) are in the \u201cImproving\u201d (blue) quadrant and both have nice long tails indicating strong momentum. <\/p>\n","protected":false},"author":186,"featured_media":205297,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":true,"footnotes":""},"categories":[21,14,18,6,8,9,22,23,26,3],"tags":[11784,251,9918,11957,12499,16059,3511,1325,6105,1058,1049,2223,2006,2546,1302,1322,3855,1323,219,1283],"contributors-categories":[13686],"class_list":{"0":"post-205291","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-commodities","8":"category-etfs","9":"category-macro","10":"category-north-america","11":"category-region","12":"category-securities","13":"category-stocks","14":"category-technical-analysis","15":"category-text-articles","16":"category-traders-insight","17":"tag-copx","18":"tag-corn","19":"tag-djp","20":"tag-fcg","21":"tag-remx","22":"tag-rrg","23":"tag-slv","24":"tag-vnq","25":"tag-wood","26":"tag-xlb","27":"tag-xlc","28":"tag-xle","29":"tag-xlf","30":"tag-xli","31":"tag-xlk","32":"tag-xlp","33":"tag-xlre","34":"tag-xlu","35":"tag-xlv","36":"tag-xly","37":"contributors-categories-investopedia"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Chart Advisor: Considering Strength in Commodities<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/posts\/205291\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chart Advisor: Considering Strength in Commodities | IBKR Campus US\" \/>\n<meta property=\"og:description\" content=\"The RRG shows the eleven main sectors of the S&amp;P 500 with the S&amp;P 500 itself being the comparison index. I\u2019ve also added a commodity index. In particular, this RRG confirms what we discussed in yesterday\u2019s article: commodities and energy have indeed gained a lot of strength. Both (DJCI and XLE) are in the \u201cImproving\u201d (blue) quadrant and both have nice long tails indicating strong momentum.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/chart-advisor-considering-strength-in-commodities\/\" \/>\n<meta property=\"og:site_name\" content=\"IBKR Campus US\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-23T12:21:38+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-04-25T16:04:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/04\/23.02-3.png\" \/>\n\t<meta property=\"og:image:width\" content=\"569\" \/>\n\t<meta property=\"og:image:height\" content=\"588\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Contributor Author\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Contributor Author\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\n\t    \"@context\": \"https:\\\/\\\/schema.org\",\n\t    \"@graph\": [\n\t        {\n\t            \"@type\": \"NewsArticle\",\n\t            \"@id\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/chart-advisor-considering-strength-in-commodities\\\/#article\",\n\t            \"isPartOf\": {\n\t                \"@id\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/chart-advisor-considering-strength-in-commodities\\\/\"\n\t            },\n\t            \"author\": {\n\t                \"name\": \"Contributor Author\",\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/person\\\/e823e46b42ca381080387e794318a485\"\n\t            },\n\t            \"headline\": \"Chart Advisor: Considering Strength in Commodities\",\n\t            \"datePublished\": \"2024-04-23T12:21:38+00:00\",\n\t            \"dateModified\": \"2024-04-25T16:04:50+00:00\",\n\t            \"mainEntityOfPage\": {\n\t                \"@id\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/chart-advisor-considering-strength-in-commodities\\\/\"\n\t            },\n\t            \"wordCount\": 634,\n\t            \"commentCount\": 0,\n\t            \"publisher\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\"\n\t            },\n\t            \"image\": {\n\t                \"@id\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/chart-advisor-considering-strength-in-commodities\\\/#primaryimage\"\n\t            },\n\t            \"thumbnailUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2024\\\/04\\\/23.02-3.png\",\n\t            \"keywords\": [\n\t                \"COPX\",\n\t                \"corn\",\n\t                \"DJP\",\n\t                \"FCG\",\n\t                \"REMX\",\n\t                \"RRG\",\n\t                \"SLV\",\n\t                \"VNQ\",\n\t                \"WOOD\",\n\t                \"XLB\",\n\t                \"XLC\",\n\t                \"XLE\",\n\t                \"XLF\",\n\t                \"XLI\",\n\t                \"XLK\",\n\t                \"xlp\",\n\t                \"XLRE\",\n\t                \"XLU\",\n\t                \"XLV\",\n\t                \"XLY\"\n\t            ],\n\t            \"articleSection\": [\n\t                \"Commodities\",\n\t                \"ETFs\",\n\t                \"Macro\",\n\t                \"North America\",\n\t                \"Region\",\n\t                \"Securities\",\n\t                \"Stocks\",\n\t                \"Technical Analysis\",\n\t                \"Text Articles\",\n\t                \"Traders' Insight\"\n\t            ],\n\t            \"inLanguage\": \"en-US\",\n\t            \"potentialAction\": [\n\t                {\n\t                    \"@type\": \"CommentAction\",\n\t                    \"name\": \"Comment\",\n\t                    \"target\": [\n\t                        \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/chart-advisor-considering-strength-in-commodities\\\/#respond\"\n\t                    ]\n\t                }\n\t            ]\n\t        },\n\t        {\n\t            \"@type\": \"WebPage\",\n\t            \"@id\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/chart-advisor-considering-strength-in-commodities\\\/\",\n\t            \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/chart-advisor-considering-strength-in-commodities\\\/\",\n\t            \"name\": \"Chart Advisor: Considering Strength in Commodities | IBKR Campus US\",\n\t            \"isPartOf\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#website\"\n\t            },\n\t            \"primaryImageOfPage\": {\n\t                \"@id\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/chart-advisor-considering-strength-in-commodities\\\/#primaryimage\"\n\t            },\n\t            \"image\": {\n\t                \"@id\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/chart-advisor-considering-strength-in-commodities\\\/#primaryimage\"\n\t            },\n\t            \"thumbnailUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2024\\\/04\\\/23.02-3.png\",\n\t            \"datePublished\": \"2024-04-23T12:21:38+00:00\",\n\t            \"dateModified\": \"2024-04-25T16:04:50+00:00\",\n\t            \"inLanguage\": \"en-US\",\n\t            \"potentialAction\": [\n\t                {\n\t                    \"@type\": \"ReadAction\",\n\t                    \"target\": [\n\t                        \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/chart-advisor-considering-strength-in-commodities\\\/\"\n\t                    ]\n\t                }\n\t            ]\n\t        },\n\t        {\n\t            \"@type\": \"ImageObject\",\n\t            \"inLanguage\": \"en-US\",\n\t            \"@id\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/chart-advisor-considering-strength-in-commodities\\\/#primaryimage\",\n\t            \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2024\\\/04\\\/23.02-3.png\",\n\t            \"contentUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2024\\\/04\\\/23.02-3.png\",\n\t            \"width\": 569,\n\t            \"height\": 588,\n\t            \"caption\": \"rspn weekly\"\n\t        },\n\t        {\n\t            \"@type\": \"WebSite\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#website\",\n\t            \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/\",\n\t            \"name\": \"IBKR Campus US\",\n\t            \"description\": \"Financial Education from Interactive Brokers\",\n\t            \"publisher\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\"\n\t            },\n\t            \"potentialAction\": [\n\t                {\n\t                    \"@type\": \"SearchAction\",\n\t                    \"target\": {\n\t                        \"@type\": \"EntryPoint\",\n\t                        \"urlTemplate\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/?s={search_term_string}\"\n\t                    },\n\t                    \"query-input\": {\n\t                        \"@type\": \"PropertyValueSpecification\",\n\t                        \"valueRequired\": true,\n\t                        \"valueName\": \"search_term_string\"\n\t                    }\n\t                }\n\t            ],\n\t            \"inLanguage\": \"en-US\"\n\t        },\n\t        {\n\t            \"@type\": \"Organization\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\",\n\t            \"name\": \"Interactive Brokers\",\n\t            \"alternateName\": \"IBKR\",\n\t            \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/\",\n\t            \"logo\": {\n\t                \"@type\": \"ImageObject\",\n\t                \"inLanguage\": \"en-US\",\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/logo\\\/image\\\/\",\n\t                \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2024\\\/05\\\/ibkr-campus-logo.jpg\",\n\t                \"contentUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2024\\\/05\\\/ibkr-campus-logo.jpg\",\n\t                \"width\": 669,\n\t                \"height\": 669,\n\t                \"caption\": \"Interactive Brokers\"\n\t            },\n\t            \"image\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/logo\\\/image\\\/\"\n\t            },\n\t            \"publishingPrinciples\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/about-ibkr-campus\\\/\",\n\t            \"ethicsPolicy\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/cyber-security-notice\\\/\"\n\t        },\n\t        {\n\t            \"@type\": \"Person\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/person\\\/e823e46b42ca381080387e794318a485\",\n\t            \"name\": \"Contributor Author\",\n\t            \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/author\\\/contributor-author\\\/\"\n\t        }\n\t    ]\n\t}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Chart Advisor: Considering Strength in Commodities","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/posts\/205291\/","og_locale":"en_US","og_type":"article","og_title":"Chart Advisor: Considering Strength in Commodities | IBKR Campus US","og_description":"The RRG shows the eleven main sectors of the S&amp;P 500 with the S&amp;P 500 itself being the comparison index. I\u2019ve also added a commodity index. In particular, this RRG confirms what we discussed in yesterday\u2019s article: commodities and energy have indeed gained a lot of strength. Both (DJCI and XLE) are in the \u201cImproving\u201d (blue) quadrant and both have nice long tails indicating strong momentum.","og_url":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/chart-advisor-considering-strength-in-commodities\/","og_site_name":"IBKR Campus US","article_published_time":"2024-04-23T12:21:38+00:00","article_modified_time":"2024-04-25T16:04:50+00:00","og_image":[{"width":569,"height":588,"url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/04\/23.02-3.png","type":"image\/png"}],"author":"Contributor Author","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Contributor Author","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/chart-advisor-considering-strength-in-commodities\/#article","isPartOf":{"@id":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/chart-advisor-considering-strength-in-commodities\/"},"author":{"name":"Contributor Author","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/person\/e823e46b42ca381080387e794318a485"},"headline":"Chart Advisor: Considering Strength in Commodities","datePublished":"2024-04-23T12:21:38+00:00","dateModified":"2024-04-25T16:04:50+00:00","mainEntityOfPage":{"@id":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/chart-advisor-considering-strength-in-commodities\/"},"wordCount":634,"commentCount":0,"publisher":{"@id":"https:\/\/ibkrcampus.com\/campus\/#organization"},"image":{"@id":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/chart-advisor-considering-strength-in-commodities\/#primaryimage"},"thumbnailUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/04\/23.02-3.png","keywords":["COPX","corn","DJP","FCG","REMX","RRG","SLV","VNQ","WOOD","XLB","XLC","XLE","XLF","XLI","XLK","xlp","XLRE","XLU","XLV","XLY"],"articleSection":["Commodities","ETFs","Macro","North America","Region","Securities","Stocks","Technical Analysis","Text Articles","Traders' Insight"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/chart-advisor-considering-strength-in-commodities\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/chart-advisor-considering-strength-in-commodities\/","url":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/chart-advisor-considering-strength-in-commodities\/","name":"Chart Advisor: Considering Strength in Commodities | IBKR Campus US","isPartOf":{"@id":"https:\/\/ibkrcampus.com\/campus\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/chart-advisor-considering-strength-in-commodities\/#primaryimage"},"image":{"@id":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/chart-advisor-considering-strength-in-commodities\/#primaryimage"},"thumbnailUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/04\/23.02-3.png","datePublished":"2024-04-23T12:21:38+00:00","dateModified":"2024-04-25T16:04:50+00:00","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/chart-advisor-considering-strength-in-commodities\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/chart-advisor-considering-strength-in-commodities\/#primaryimage","url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/04\/23.02-3.png","contentUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/04\/23.02-3.png","width":569,"height":588,"caption":"rspn weekly"},{"@type":"WebSite","@id":"https:\/\/ibkrcampus.com\/campus\/#website","url":"https:\/\/ibkrcampus.com\/campus\/","name":"IBKR Campus US","description":"Financial Education from Interactive Brokers","publisher":{"@id":"https:\/\/ibkrcampus.com\/campus\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ibkrcampus.com\/campus\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ibkrcampus.com\/campus\/#organization","name":"Interactive Brokers","alternateName":"IBKR","url":"https:\/\/ibkrcampus.com\/campus\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/logo\/image\/","url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/ibkr-campus-logo.jpg","contentUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/ibkr-campus-logo.jpg","width":669,"height":669,"caption":"Interactive Brokers"},"image":{"@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/logo\/image\/"},"publishingPrinciples":"https:\/\/www.interactivebrokers.com\/campus\/about-ibkr-campus\/","ethicsPolicy":"https:\/\/www.interactivebrokers.com\/campus\/cyber-security-notice\/"},{"@type":"Person","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/person\/e823e46b42ca381080387e794318a485","name":"Contributor Author","url":"https:\/\/www.interactivebrokers.com\/campus\/author\/contributor-author\/"}]}},"jetpack_featured_media_url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/04\/23.02-3.png","_links":{"self":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts\/205291","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/users\/186"}],"replies":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/comments?post=205291"}],"version-history":[{"count":0,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts\/205291\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/media\/205297"}],"wp:attachment":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/media?parent=205291"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/categories?post=205291"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/tags?post=205291"},{"taxonomy":"contributors-categories","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/contributors-categories?post=205291"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}