- Notice material sector (XLB) is among the leading sectors since March market bottom. Material kept rising from March to September non-stop
DOW is one of the leader among mega material stocks from March to June
Consolidation consists ascending base (higher-low) and resistance was set at 46
By the end of ascending base, DOW crossed over 46 which triggered buying opportunity with sell-stop about 44-45
DOW did not finish it rally straight up but made a pullback in October. However, 44-45 offered a support and strong rebound
Then, it was a strong rally with a gap-up to its finish line +17% profits within 3 months
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.