INDUSTRIAL METAL BREAKOUTS… Three of the top performing material stocks are tied to industrial metals. The strongest is US Steel which just recently broke out to a new record high. Right behind it is Freeport McMoran Copper & Gold (which is tied more to copper than gold). FCX is breaking through a “neckline” drawn over its December/February highs. Its relative strength ratio is near a new high as well.  Alcoa moving up to challenge overhead resistance near 40. A decisive close over that chart barrier would be a bullish breakout for the big aluminum stock. Its relative strength ratio turned up sharply in January. Industrial metals were the strongest acting commodities during the first quarter. Energy came in second. That may explain why energy stocks continue as market leaders.
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