SELECT SECTOR SPDR MATERIALS SECTOR ETF - XLB
Monthly chart shows price remains stuck in consolidation/trading range. 
Weekly chart shows an abc 3 wave pattern into the double top. Is this profit-taking, or the start of a bigger move down?
Daily chart shows the bears gapped down the open in their haste to exit their positions. While the few bulls remaining tried to take price back up again, they were soon overcome by selling pressure, as they closed the day near its lows. Pattern on the chart suggests a fall to the March 17 low as a minimum.
Sunday, April 13, 2008
XLB Update for 04.13.2008
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