Staples Lag, Materials Strong

03/11/2009 3:34 pm EST

Focus: STOCKS

Thomas Aspray

, Professional Trader & Analyst

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With the strong action Tuesday, the staples sector ETF (XLP) was not impressive and the daily RS now shows a potential top formation. A break of key support could signal a move out of this defensive sector. The materials ETF (XLB) rose sharply on heavy volume, which is encouraging, but there is heavy resistance at $21-$22.

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