A Shower of Breakouts
I have been talking a lot about breakouts lately, and that's because they are working. On Tuesday it was the financial sector's turn, as exhibited here in the Financial Select Sector SPDR (XLF). That breakout had legs, and the stock still has more room to run, as I have suggested would likely be the case.XLF -- Daily Source: Investools.com View Chart » View in New Window »
But, after a 5% surge in just three days on the broad index, the group will most likely take a short breather pretty soon. To see what that might look like, here's the semiconductor sector -- as seen through the iShares PHLX SOX Semiconductor Sector Index Fund (SOXX) -- which broke out back in the middle of January and forced me to change my tune to bullish for the broader market....577 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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