Materials ETF Testing Its 200-Day MA
06/24/2009 10:15 am EST
One of the hottest sectors since the March lows has been the materials and the sector ETF XLB has declined back to its 200-day MA. The 50- and 200-day MAs are positive and a move back above the 50-day MA at $26.15 would be encouraging. Key resistance is now at $28.50-$29 and there is longer-term support at $22.50-$23.