I have noticed bearish action in Basic Materials sector. This sector was one of strongest in past months. It looks like huge profit taking in this sector is taking place.

I noticed bearish chart pattern forming on chart of XLB - Basic Materials ETF.

This entry was posted on Thursday, July 17th, 2008 at 2:57 pm and is filed under ETF analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.