Sector Rally Failing?

12/12/2008 9:12 am EST

Focus: ETFS

Thomas Aspray

, Professional Trader & Analyst

chart

Spyder's Energy Select (XLE) and Materials ETFs (XLB) reached resistance Thursday and then closed lower. Both tested their short-term trend lines, and the low volume on the recent rally was not impressive. XLB resistance at $51-$52, with support at $40. XLB support at $20, with resistance at $24.50.

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