Materials Still Stronger

05/28/2009 1:24 pm EST

Focus: ETFS

Thomas Aspray

, Professional Trader & Analyst

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Both the material and energy sectors have done well since the March lows as the RS analysis highlighted the materials in early March. XLB has moved above the December 2008 highs and has challenged the November highs, while the XLE has not. Both appear to be forming continuation patterns, which favors an upside resolution.

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