Inflation Fears and DRS Technologies
The market sold off yesterday after new worries in the financial sector and bad numbers in the PPI core. The index includes food and energy costs..In the same time, the weak dollar helped the Oil crude that rallied, closing for the fist time ever above $129. The good news for the bulls was the light volume, but I still expect some downside here.
Here an interesting chart:
DRS Technologies, Inc.
(DRS)
is on fire since two week. The stock gapped up to a new all-time high five bars ago and is pausing in a bull flag since then. DRS could resume its uptrend at anytime.
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