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jaxdog

$XLB Breaking Out on Weekly Chart

Long
Materials Select Sector SPDR (AMEX:XLB)  
jaxdog  
AMEX:XLB   Materials Select Sector SPDR
Chart Patterns Technical Indicators Trend Analysis QQQ SPDR S&P 500 ETF (SPY) SPX (S&P 500 Index) IWM Contains IO script
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XLB a basic materials ETF has been basing for almost a year. Today it broke out just above the most recent flat base. As auto generated by this LevelUp chart.

I have started a ¾ sized position as it is a slower mover so I can go bigger to start a position. My stop is just below the most recent low, which is just over a 5% stop loss.

Ideas, not investing / trading advice. Comments always welcome. Thanks for looking.
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I may or may not take any trade published and I am under no obligation to post any action or update to any idea.
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