Correction Over or Not?
08/20/2009 9:35 am EST
The short-term market outlook is muddy at best and it could go either way over the next few days. Monday's lows are a key level to watch, because if they are broken, a deeper correction is likely. XLB still looks positive, with the OBV confirming the price action. Key support is at $27.75-$28.50 and resistance stands at $30.68.