Staples Lag, Materials Strong
03/11/2009 3:34 pm EST
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.