jaxdog

$XLB Breaking Out on Weekly Chart

Largo
AMEX:XLB   Materials Select Sector SPDR
XLB a basic materials ETF has been basing for almost a year. Today it broke out just above the most recent flat base. As auto generated by this LevelUp chart.

I have started a ¾ sized position as it is a slower mover so I can go bigger to start a position. My stop is just below the most recent low, which is just over a 5% stop loss.

Ideas, not investing / trading advice. Comments always welcome. Thanks for looking.

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