While the S&P is trying 2011 high , basic materials are still lagging the broad market by 14 %. For the the market to break 2011's hight, the basic material (IYM) and Russell 2000 ( IYD) will need to break their resistance line. Long investors do not want these two to break there support.
Source: Chris Kimble
Source: Chris Kimble
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.