NUE - good quality heavy industrial, but weakening

Is Nucor a clue to possible weakness in the underlying industrial sector? Whilst the main indexes saw a very strong turn around after Monday's initial fall, Nucor has remained weak.


NUE, daily

We have a broad moderate down trend, and a baby bear flag right now. A break under the 200 day MA at 38.47 would likely take Nucor down a further 10% to just under the $35 level. Only a break above $44 right now would inspire me to turn bullish on this stock.