SMU Data and Models
March 26, 2015
SMU Price Momentum Indicator Adjusted to Neutral from Lower
Written by John Packard
Earlier today, Steel Market Update adjusted our SMU Price Momentum Indicator from “Lower” to “Neutral.”
Since November 16, 2014 the SMU Price Momentum Indicator has been pointing toward “Lower” steel prices. Prior to November 16th we had a period of time where our Momentum Indicator vacillated between Neutral and Lower going back to May 2014. As our SMU MoMo Index shows, when averaged on a three week rolling basis, hot rolled prices have actually been declining for 31 straight weeks.
