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Retail is looking “Good“… Basic Materials has been looking “Bad”….. 500 index has been “Unchanged” for a few months.
A chain is only as strong as its “weakest length!” ……
If the “Bad/Weakest” (which is Basic Materials) can accomplish a breakout, many areas will look good!
Keep an eye on the BAD/IYM…a breakout is needed to trust the broad markets!