The Narrowness Persists
The other day, I was asked where the W-shaped pattern is -- the one I called for after the March 6 low. The first thing to keep in mind is that the "W" can sometimes come quickly -- and, in some cases, it can arrive weeks later. In this case, if you own anything commodity-related or cyclical, you certainly have felt the "W" effect.
Look at the chart of Materials Select Sector SPDR (XLB). You can see that, after the oversold rally off the March 6 low, the price rallied by $2 and gave back $1. That's the W pattern....418 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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