The material index staged a rebound lately. It's as if material sector is the only sector that's holding the all ords up. And in some of the stock reports, the material sector is billed as the next defensive stock. Is it really? I will let the chart speak.
Divergence of index value with MACD and money flow should ring some alarm bells. We should watch with eager to see if this is indeed a rebound or just the last dance.
Saturday 1 March 2008
Will ASX material sector (XMJ) be the survivor?
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