Materials Still Lead

11/18/2009 9:15 am EST


Thomas Aspray

, Professional Trader & Analyst

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With the market averages at new highs, it is important to see what sectors are leading and lagging. The materials sector ETF (XLB) has broken out to the upside with targets at $33. The energy (XLE) and financial sector (XLF) ETFs are still lagging, though XLE shows a series of higher highs and higher lows. A breakout in crude oil could push XLE to new highs.

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