Killy_Mel

MACRO VIEW: XLB IN UNCERTAINTY ON ALL FRONTS

AMEX:XLB   MATERIALS SELECT SECTOR SPDR
XLB             trades within uncertain territory both on macro and micro basis.

On long term perspective price has failed its 10 and 5 year trends, and now trades between 2 macro levels - the 5-year mean at 41.50 and the 10-year uptrend border at 46.50.

On short term perspective price also showing no particular trend - XLB             is trading within 1st standard deviations from both quarterly (66 day) and 1-year (264 day) mean.

Thus in general currently more lateral action is most likely at XLB             , until it breaks one of the key macro levels outlined on the chart.
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