The Dow Jones U.S. Coal Index broke out to new highs for 2010 last week after being in a trading range for most of the year. This is the highest level this index has hit since 2008.
The next two ratio charts show coal stocks compared against the S&P 500 and against oil and gas stocks. Coal stocks are currently at the top of the trading range against both of them. A breakout would signal continued outperformance of coal stocks versus the rest of the market and against oil and gas stocks.