• Could Basic Materials Bounce Soon?

    21 days ago - By ETF Daily News

    From Dana Lyons : Beleaguered basic materials stocks are approaching a noteworthy long-term chart level.
    There have been plenty of victims in the recent global equity correction. One group that has been hit particularly hard is the basic material sector. Not only is the group down about 16% from its January high (as judged by the Dow Jones U.S. Basic Materials Index), but it is also now well below its January-April lows. That said, there may be hope for the group.
    We say that because the Basic Materials Index is approaching a potential longer-term level of support - the breakout level...
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