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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!
thats a couple of percent above current prices…yes
HI Chris,
Would you consider a move in IYM above its 50 dMA (64.15)a breakout?
Of course, it would have to hold above that number
Thanks,
Aaron
Just change the “US” in the headlines to “EU”
http://www.washingtonpost.com/wp-dyn/content/graphic/2008/09/20/GR2008092000318.html