Shopping on the Nasdaq

One month ago today, we scanned the market to see which sectors we should own and which to avoid. We concluded that the basic-materials sector, represented by the Materials Select Sector SPDR (XLB), was on the verge of breaking out of a cup-and-handle formation. We also concluded that it would be wise to avoid the utilities sector.

One month later, the overall market is gaining steam while still trading below its year-to-date highs. That's not the case with XLB, which has broken out of its bullish pattern, as we suggested it would. Meanwhile, the Utilities Select SPDR (XLU) remains trapped beneath its 200-day moving average as it continues to slide lower. Here is the relative performance of the XLB (green) vs. the XLU (black) thus far this quarter:...458 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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