Materials Sector Update for 06.29.2008

SELECT SECTOR SPDR MATERIALS SECTOR ETF - XLB

Monthly chart shows regular divergence as a higher high was made in May 2008. June saw profit-taking as a new high was made. No clear sell signal/pattern evident on this timeframe.

Weekly chart shows price found resistance at the 1.27 fib level , where profit-taking was evident. The bears managed to take the price down through the short term term LIS and prior high of $44.14. No buy signal/pattern evident on this timeframe as of yet.

Daily chart shows that Friday saw some early bottom pickers, who managed to close the trading session right at the 200sma. Look to next week's trading activity for better sense of short term direction.

XLB Update for 04.13.2008

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.

Materials Sector Update for 03.29.2008

SELECT SECTOR SPDR MATERIALS SECTOR ETF - XLB

Monthly chart shows indecision between the bulls and the bears.
Weekly chart shows bulls trying to take price higher last week, but were met with some selling pressure. Market remains stuck in trading range.

Daily chart shows consolidation/trading range. Look to next week for better sense of direction.

Industrial Sector Update for 03.29.2008

SELECT SECTOR SPDR INDUSTRIAL SECTOR ETF - XLI

Monthly chart shows bulls are holding onto current short term support off the monthly 34ema.

Weekly chart shows resistance at the small LIS (old support becomes new resistance).

Daily chart shows weakness coming back into the market on Thursday and Friday of last week. Let's see if we get any follow through or not to the downside. IF the $38 current resistance is broken, and holds as support, THEN look for a re-test of the current high at the $42 level.

Materials Sector Update for 03.15.2008

SELECT SECTOR SPDR MATERIALS SECTOR ETF - XLB

Monthly chart shows consolidation/trading range with up trend in place. No buy signal/pattern evident on this timeframe.

Weekly chart shows price above all the key moving averages.

Daily chart shows increased selling pressure on Friday. Look to next week for better sense of direction.

Materials Sector Update for 03.08.2008

SELECT SECTOR SPDR MATERIALS ETF - XLB

Monthly chart shows increasing weakness, as price is currently below its 8ema.

Weekly chart shows price below both the 8ema and the 34ema. No buy signal/pattern evident on this timeframe.

Daily chart shows major trader sentiment change as the bears gapped down the price at the open of Friday's trading session. Look for continuation lower, and at a minimum, a test of the January low.

Materials Sector Update for 03.01.2008

SELECT SECTOR SPDR MATERIALS SECTOR ETF - XLB

Monthly chart shows indecision from February's trading activity. Uptrend remains intact for now.

Weekly chart shows current resistance is at the .886 fib retracement level, where sellers came out in force, closing the week near its lows.

Daily chart shows major sentiment change as bears gapped down the open in their haste to exit their positions. Look for continued weakness and a test of current low and support at $34.63 level.

XLB Update for 02.24.2008

SELECT SECTOR SPDR MATERIALS ETF - XLB

Monthly chart shows indecision between bulls and bears.

Weekly chart shows price above all key moving averages. Current resistance is right at the .786 fib retracement level.

Daily chart shows abc 3 wave pattern into .786 fib level, creating a bearish gartley butterfly pattern. IF we get weakness, THEN look for a retracement of the last move up, with downside targets of $37.50 and $36.21 initially.

Materials Sector Analysis for 02.17.2008

SELECT SECTOR SPDR MATERIALS ETF - XLB

Monthly chart shows weakness and sellers the last 4 months. The move up was made with regular divergence on the CCI momentum indicator. Moving average ribbons remain intact. No clear sell signal, and no clear buy signal either.

Weekly chart shows bulls have a slight lead this past week, as they managed to hold their ground against the bears. No clear signals on this timeframe. So long as the January low holds, the bulls can take this higher.

Daily chart shows indecision in Friday's trading session. Possible consolidation/trading range before the next major move. Look for possible test of the January low.