andrewunknown

Breakaway Gap Over 2.5 Yr Resistance: At Lvls Last Seen 06/2008

BATS:XLB   MATERIALS SELECT SECTOR SPDR
71 6 0
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That's huge - major breakout there. Candle on the day not so pretty, but no question extremely significant. Thanks man!
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andrewunknown DuncanParker
good observation, agree there - would've liked to see a closer higher in the range. Also, volume was supportive but nothing suggesting unfurling momentum on a gap over multi-year resistance. Not entirely sold that will have legs, but as I find myself saying so often: giving the breakout the "benefit of the doubt"....
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DuncanParker andrewunknown
Retest of the breakout is "textbook" and to be expected. Something like this catches many off guard - wasn't personally thinking "man, this seems like one hell of a perfect environment for a breakout in materials" lol. :)
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nice one! Thanks for sharing.
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great username, by the way
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