The Alcoa Analog (read about it here) was one of the cleanest trades I’ve suggested all year. It preceded a virtually uninterrupted plunge lower. I assumed that once it reached its long-term trendline, it would find support and gain strength. Nope – check out the chart below. The price fell well below the trendline, and, wouldn’t you know it, the trendline is now acting as resistance. It looks like Alcoa is going to remain quite ill.