Don't Ignore This Chart!

Another Consolidation Breakout for the Materials SPDR


The Basic Materials SPDR (XLB) remains on of the top performing sectors in the market. Since breaking resistance in September, the ETF advanced with a series of consolidation breakout. With the surge over the last three days, the ETF broke flag/wedge resistance and scored a 52-week high today.

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Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
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