Basic Materials Sector On Fire

The Basic Materials Sector is the hottest area of the market in today's session, currently up 2.4% on the day. The best performing stocks in the S&P 500 Basic Materials Sector currently are: 1) International Paper IP: Shares of International Paper are currently trading up 4.2% from yesterday's close to $28.59. The stock has recently found support at its 200-day simple moving average (one year daily chart), which is currently at $26.92. The year-to-date performance of International Paper has been a gain of 6%. 2) CF Industries CF: Shares of CF Industries are currently trading up 4.2% from yesterday's close to $144.35. The stock broke above its 50-day simple moving average (one year daily chart) in today's session. A bearish head and shoulders pattern appears to be taking shape on a three month daily chart. A break below $132.82 would provide confirmation. The year-to-date performance of CF Industries has been a gain of 7%. 3) CONSOL Energy CNX: Shares of CONSOL Energy are currently trading up 4% from yesterday's close to $47.99. The stock broke above its 200-day simple moving average (one year daily chart) in today's session. The next level of resistance is the 50-day simple moving average, which is currently at $49.42. The year-to-date performance of CONSOL has been a loss of 2%. 4) Eastman Chemical EMN: Shares of Eastman Chemical are currently trading up 3.6% from yesterday's close to $100.08. The stock is looking to break above its 50-day simple moving average (one year daily chart), which is currently at $101.00. The stock has lost 9% since hitting a 52-week high of $110.20 on April 29th. The year-to-date performance of Eastman Chemical has been a gain of 20%. 5) Peabody Energy BTU: Shares of Peabody Energy are currently trading up 3.8% from yesterday's close to $56.24. The stock's 50-day moving average is close to crossing below its 200-day simple moving average (one year daily chart), which is a bearish technical signal known as the “Death Cross.” Shares have a critical support level at $52.44, which dates back to November 3rd. The year-to-date performance of Peabody Energy has been a loss of 12%. 6) Alpha Natural Resources ANR: Shares of Alpha Natural Resources are currently trading up 3.3% from yesterday's close to $42.35. The stock's 50-day simple moving average crossed below its 200-day simple moving average (one year daily chart) in today's session, which is a bearish technical signal known as the “Death Cross.” The year-to-date performance of Alpha Natural has been a loss of 30%.