The Chart Says This EXTREMELY Hated Sector Is About to Explode Higher

Stocks hit a new all-time high yesterday, coming within three points of 3,200 on the S&P 500 yesterday.

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With most of the market soaring higher, I’ve begun looking for undervalued sectors that are about to play “catch up.”

One of them is steel.

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The steel industry was left for dead for the last two years, largely due to investors believing that the economic cycle had rolled over and a recession was just around the corner.

However, a few months ago, the industry started showing signs of life with the Steel ETF (SLX) breaking out of a two-year downtrend.

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This is EXTREMELY bullish. And I believe that 30% gain since September is just the start. My proprietary models indicate that all claims of an impending recession are completely WRONG.

Instead we’re about to enter an economic boom… one in which undervalued plays like steel could more than DOUBLE in the coming months.

Subscribers of my Private Wealth Advisory newsletter are already profiting from this.

In the last four weeks, we’ve locked in gains of 11%, 13% 19% on deeply undervalued sectors like steel.

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Best Regards   

Graham Summers   
Chief Market Strategist   
Phoenix Capital Research

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