Basic Material Needed for Market to Continue Rally

BATS:IYM   iShares U.S. Basic Materials ETF
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


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