Material Stocks Leading Energy
01/07/2010 9:47 am EST
The materials sector ETF (XLB) has broken out of its trading range in impressive fashion. The projected targets from the trading range are in the $38-$40 area. Meanwhile, the energy ETF (XLE) has had a powerful rally and is up over 10% in the past month. The completion of the triangle formation has upside targets in the $61-$63 area.